A company was moving from one part of the city to another. During the move, a truck carrying computer equipment worth more than $250,000 was trapped in a flooded underpass, and the equipment was destroyed. Fortunately, the company was insured under several policies. The policy that would most likely cover the computer equipment during the move from one facility to another is

Answers

Answer 1

Answer:

Causality policy

Explanation:

This policy makes provision for an organization or individual to be insured against any damage to property as a result of negligent acts or omissions.

In this case the property–$250,000 worth of computer equipment held inside the truck was trapped in a flooded underpass, and the circumstances shows there may have likely been negligence on the part of the truck driver.


Related Questions

Consider a project with a first cost (investment) of $250,000, an annual O&M cost of $50,000, annual revenue of $160,000, and a salvage value of $40,000 after a 10-year life. Find the annual worth of the project assuming an interest of 12% per year.

Answers

Answer:

$68,030

Explanation:

According to the given situation, the computation of annual worth is shown below:-

Annual worth = -250,000 (A/P, 12%, 10) - $50,000 + $160,000 + $40,000 (A/F, 12%, 10)

= -$250,000 × 0.1770 - $50,000 + $160,000 + $40,000 × 0.0570

= -$44,250 - $50,000 + $160,000 + $2,280

= $68,030

So, the right answer is $68,030

Michelle gives out a business card with an e-mail address on it. According to the comments that accompany the UETA, it may be reasonable to infer that Michelle has consented to

Answers

Answer:

Explanation:

transact business electronically.

If a firm pays labor $5 and receives a MPL of 10, while paying capital $100 and receiving a MPC of 100, to lower production costs it should hire more labor and less capital.
a. True
b. False

Answers

Answer:

True

Explanation:

Here, we want to evaluate the validity of the given statement whether true or false.

The correct answer is true.

For a firm that pays $5 labor and receives a MPL of 10, while paying capital of $100, and receiving a MPC of 100, to lower production costs, it should higher more labor and less capital.

Assume that interest rates on 15-year noncallable Treasury and corporate bonds with different ratings are as follows: T-bond = 7.72% A = 9.64% AAA = 8.72% BBB = 10.18% The differences in rates among these issues were most probably caused primarily by:

Answers

Answer:

Investors are risk averse, which means that they are willing to invest in low risk projects or investments. In order for an investor to invest in a riskier project, he/she will expect to receive higher returns to compensate for the extra risk. US Treasury bonds are probably the safest investments in the world, that is why they yield the lowest interest rate. AAA bonds are less risky than BBB bonds, which in turn are less risky than CCC bonds. That is why AAA bonds yield a lower return than BBB bonds, and BBB bonds yield a lower return than CCC bonds.

Discount factor is 0.985. Stock XYZ is selling for $40 a share. An American option on this stock with a strike price of $38 is trading at $0.25 per share. If it is known that this option is priced above its intrinsic value, what type of option is it?

Answers

Answer:

Put option

Explanation:

We have current price 40dollars - strike price 38dollars = $2. The question says the stock is trading at $0.25 per share. Since 0.25 is higher than 0 it is a put option. And the intrinsic value is $2.

The put option gives one the right to sell a particular number of shares at a price that has been set which is referred to as the strike price before a certain date.

Which of the following is a plausible explanation for the difference between the net change in fund balances of governmental funds (fund-level statement of revenues, expenditures, and changes in fund balances) and the change in net position of governmental activities (government-wide statement of activities)?

a. Some expenses reported in the statement of activities do not require the use of current financial resources and are not reported as expenditures in the fund-level statements.
b. Amounts reported as expenditures in the statement of activities are reported as capital assets in the fund-level statements.
c. Debt proceeds provide current financial resources in the statement of activities, but are reported as long-term liabilities in the fund-level statements
d. Depreciation of general fixed assets is not reported as an expense in the statement of activities, but it is reported as an expense in the fund-level

Answers

Answer:

a. Some expenses reported in the statement of activities do not require the use of current financial resources and are not reported as expenditures in the fund-level statements.

Explanation:

Governments maintain a statement of activities that are carried out, and fund-level statements are also maintained to track expenses of government.

When there is a disparity between the two, a plausible explanation will be that some expenses reported in the statement of activities do not require the use of current financial resources and are not reported as expenditures in the fund-level statements.

For example some long term project that is carried out by the government may be treated by creating a budget. These expenses will not be recognized in the current expenses that make up fund-level expenses.

"The interest rate charged from the banks to broker-dealers on loans where securities are collateral is the:"

Answers

Answer: broker loan rate

Explanation:

The broker loan rate is also refered to the call loan rate and it is the interest rate that is charged from the banks to broker-dealers on loans where securities are collateral.

It should be noted that the iterest rates that are given on broker loan rates are just a little above the short term interest rates.

TB MC Qu. 8-198 The Puyer Corporation makes ... The Puyer Corporation makes and sells only one product called a Deb. The company is in the process of preparing its Selling and Administrative Expense Budget for next year. The following budget data are available: Monthly Fixed Cost Variable Cost Per Deb Sold Sales commissions $ 1.02 Shipping $ 1.52 Advertising $ 51,200 $ 0.32 Executive salaries $ 61,200 Depreciation on office equipment $ 21,200 Other $ 41,200 All of these expenses (except depreciation) are paid in cash in the month they are incurred. If the company has budgeted to sell 16,200 Debs in February, then the total budgeted fixed selling and administrative expenses for February is:

Answers

Answer:

The Puyer Corporation

The total budgeted fixed selling and administrative expenses for February is:

$174,800

Explanation:

a) Data and Calculations:

Advertising                                       $ 51,200

Executive salaries                            $ 61,200

Depreciation on office equipment $ 21,200

Other                                               $ 41,200

Total fixed selling & admin. exp.   $174,800

b) The Puyer Corporation's fixed selling and administrative expenses are always fixed in total but not per unit of Deb within the short-term because they do not depend on Deb's volume of production or sale.  They are unlike the variable aspect of expenses that are fixed per unit of Deb but vary in total.  Those expenses which do not vary with the level or volume of sales or production activity of Deb are regarded as fixed because the level or volume of sales or production activity of Deb does not change their totals.  But, in the long-term, Puyer's fixed expenses will vary in total as well as per unit of Deb produced or sold.

Because of the legal protection for intellectual property, such as patents, a firm has a better chance of recouping the costs of research if it pursues:_________.
a. Basic technological research
b. Technologically innnovative research
c. Appllied technological research
d. Technologically positive research

Answers

Answer:

D. Technologically positive research

Explanation:

Technology positive research can be said to be a scientific method which explain elaborately on the approach that is seen to deal with research founded on the premise of the modern world is been defined by a set of regular laws or patters, and that we can investigate these laws. Generally, it is known that positivity brings open doors and also a level ground for normal discussions with even people that have spent barely few hours with a said person. This research method is also been seen as the type where theory is typically provided as a set of related variables express by some form of formal logic, proven empirically to be significant.

Under Armour uses its website to sell its products, but Nathan Shriver, art director of Interactive, believes that what the website does, and what advertising does not do, is make the brand

Answers

Answer:

This question is incomplete, the options are missing. The options are the following:

a) Friendlier to the customer

b) Recognizable in retail stores

c) Seem special compare to off-label gear

d) Part of the consumer's daily life

e) Seem of higher quality than Nike

And the correct answer is the option D: Part of the consumer's daily life.

Explanation:

To begin with, when Nathan Shriver says that he believes that the website and advertising of the company does is to make the brand more part of the consumer's daily life refers that in the end it is that action what truly makes the company to increase its sales due to the fact that thanks to the marketing campaigns now the brand is more important in the life of the consumers and more due to the fact that those advertising make them understand that the use of Under Armour's products is essential to every day training and movement that the clients might face.

Slow​ 'n Steady,​ Inc., has a stock price of ​, will pay a dividend next year of ​, and has expected dividend growth of per year. What is your estimate of Slow​ 'and Steady cost of equity​ capital

Answers

Answer:

Slow​ 'and Steady cost of equity​ capital is 11%.

Explanation:

Note: The question is not complete as the important data are committed. The full question is therefore provided before answering the question as follows:

Slow n' steady Inc, has a stock price of $30, will pay a dividend next year of $3, and has expected dividend growth of 1% per year. what is your estimate of slow n steady's cost of equity capital?

The explanation to the answer is now given as follows:

The cost of equity can be calculated using the Gordon growth model (GGM) formula for calculating current stock price

The GGM has the assumption that there will be a stable dividend growth rate year after year forever.

Tje GGM formula is given as follows:

P = d1 / (r - g) ……………………………………… (1)

Where;

P = Current share price = $30

d1 = Next year dividend = $3

r = Required rate of return or cost of equity = ?

g = Expected dividend growth rate = 1%, or 0.01

Substituting the values into equation (1) and solve for r, we have:

30 = 3 / (r - 0.01)

r - 0.01 = 3 / 30

r - 0.01 = 0.10

r = 0.10 + 0.01

r = 0.11, or 11%

Therefore,  Slow​ 'and Steady cost of equity​ capital is 11%.

The difference between total sales revenue and total cost of goods sold is the: A. Trade margin B. Gross marketing contribution C. Net marketing contribution D. All of the above

Answers

Answer:

A. Trade margin

Explanation:

The profit obtained from trading operations is known as gross profit or trade margin.This is calculated as sales less costs of goods sold.

The difference between total sales revenue and total cost of goods sold is the gross marketing contribution.

The following information is considered:

When the cost of goods sold is deducted from the sales revenue so the gross marketing contribution should come. Neither it is trade margin, nor net marketing contribution.In other words, the difference is called as gross margin.

Therefore we can conclude that the correct option is B.

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If a bank has required reserves of $27,000,000, excess reserves of $41,000,000, and deposits of $90,000,000 with a required reserve ratio of 30 percent, how much can the bank lend out?

Answers

Answer:

$41,000,000

Explanation:

Excess reserves can be described as the amount of money that is kept by a bank. This amount of money can be given out to individuals or different organisations in the form of a loan, this is done to generate more profits as a certain amount of interest is being added to the amount of cash that will be given out.

In the scenario described above, the bank has an excess reserve of $41,000,000. Therefore, the bank will be willing to lend out $41,000,000 as loan.

Mayan Company had net income of $37,380. The weighted-average common shares outstanding were 8,900. The company's earnings per share is: Multiple Choice $7.48. $5.36.

Answers

Answer:

$4.20.

Hie, the question you have provided is not complete, as it is missing all choices of options.

However important information to answer the question is provided below :

Earnings per share = Earnings Attributable to Holders of Common Shares ÷ Weighted Average Number of Common Shares

                                = $37,380 ÷ 8,900

                                = $4.20

Conclusion :

The company's earnings per share is: $4.20

One year ago, you purchased a stock at a price of $55.20 per share. Today, you sold your stock at a loss of 18.63 percent. Your capital loss was $12.62 per share. What was the total dividends per share paid on this stock over the year

Answers

Answer:

Dividend = $2.34

Explanation:

Purchase Price = $55.20

Loss on stock = 18.63% of $55.20 = $10.28

Capital Loss = $12.62

Dividend = Capital Loss - Total Loss

Dividend = $12.62 - $10.28

Dividend = $2.34

Eakins Inc.'s common stock currently sells for $15.00 per share, the company expects to earn $2.75 per share during the current year, its expected payout ratio is 70%, and its expected constant growth rate is 6.00%. New stock can be sold to the public at the current price, but a flotation cost of 8% would be incurred. By how much would the cost of new stock exceed the cost of retained earnings

Answers

Answer:

1.12%

Explanation:

By how much would the cost of new stock exceed the cost of retained earnings = Cost of new equity - Cost of retained earnings

Cost of retained earnings = ((2.75 * 70%) / 15) + 6.00%  

Cost of retained earnings = ((2.75 * 0.7) / 15) + 0.06

Cost of retained earnings = 0.1283 + 0.06

Cost of retained earnings =0.1883

Cost of retained earnings = 18.83%

Cost of new equity= ((2.75 * 70%) / (15 * (1 - 8%) ) + 6.00%

Cost of new equity= 19.95%

Hence, Cost of new equity - Cost of retained earnings

= 19.95% - 18.83%

= 1.12%

Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $620,000 cost with an expected four-year life and a $34,000 salvage value. All sales are for cash, and all costs are out-of-pocket, except for depreciation on the new machine. Additional information includes the following. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round PV factor value to 4 decimal places.) Expected annual sales of new product $ 2,190,000 Expected annual costs of new product Direct materials 494,000 Direct labor 686,000 Overhead (excluding straight-line depreciation on new machine) 476,000 Selling and administrative expenses 174,000 Income taxes 30 % Required: 1. Compute straight-line depreciation for each year of this new machine’s life. 2. Determine expected net income and net cash flow for each year of this machine’s life. 3. Compute this machine’s payback period, assuming that cash flows occur evenly throughout each year. 4. Compute this machine’s accounting rate of return, assuming that income is earned evenly throughout each year. 5. Compute the net present value for this machine using a discount rate of 4% and assuming that cash flows occur at each year-end. (Hint: Salvage value is a cash inflow at the end of the asset’s life.)

Answers

Answer:

1) depreciation expense per year = $146,500

2) net income:

years 1 - 4 = $149,450

net cash flows:

year 0 = -$620,000

year 1 = $295,950

year 2 = $295,950

year 3 = $295,950

year 4 = $329,950

3) payback period = 2.09 years

4) accounting rate of return = 24.1%

5) net present value (NPV) = $483,330.83

Explanation:

purchase cost of the machine $620,000

depreciation expense per year = ($620,000 - $34,000) / 4 = $146,500

expected annual sales $2,190,000

direct materials $494,000

direct labor $686,000

overhead (excluding depreciation) $476,000

S&A expenses $174,000

total costs (excluding depreciation) = $1,830,000

income taxes 30%

net income per year = ($2,190,000 - $1,830,000 - $146,500) x 70% = $149,450

net cash flow (years 1 - 3) = $149,450 + $146,500 = $295,950

net cash flow (year 4) = $149,450 + $146,500 + $34,000 = $329,950

payback period = $620,000 / $295,950 = 2.09 years

accounting rate of return = $149,450 / $620,000 = 24.1%

NPV, using a financial calculator = $483,330.83

The Absolute Zero Co. just issued a dividend of $2.70 per share on its common stock. The company is expected to maintain a constant 5.6 percent growth rate in its dividends indefinitely. If the stock sells for $54 a share, what is the company's cost of equity?

Answers

Answer:

10.88%

Explanation:

According to the given situation, the computation of the company's cost of equity is shown below:-

Stock price = (Current dividend × (1 + Growth rate)) ÷ (Cost of equity - Growth rate)

$54 = ($2.70 × (1 + 0.056)) ÷ (Cost of equity - 0.056)

Cost of equity = $2.8512 ÷ $54 + 0.056

= 10.88%

Therefore for computing the cost of equity we simply applied the above formula.

The carrying value of Blossom’s net identifiable assets, including the goodwill, at year-end is $855,000. Prepare Cullumber’s journal entry, if necessary, to record impairment of goodwill.

Answers

Answer:

Goodwill Impairment (Debit)

           Goodwill (Credit)

Explanation:

In case goodwill is impaired, then the entry to record this impairment will be Goodwill Impairment Debit and Goodwill Credit.

By crediting the Goodwill, the account will be reduced. This shows that the business is currently worth less than is accounted for. The Goodwill account is reduced to identify this difference.

The Impairment loss is an expense and must be reflected in the income statement. Therefore, while we reduce Goodwill amount from balance sheet. We record the expense on the income statement, which would mean that the current year profit amount will be reduced.

Espinoza Company is a wholesale distributor that uses activity-based costing for all of its overhead costs. The company has provided the following data concerning its annual overhead costs and its activity based costing system:

Overhead costs:

Wages and salaries 220,000
Other expenses 150,000
Total $510,000

Distribution of resource consumption:


Filling Orders Activity Cost Pools Customer Support Other Total

Wages and salaries 35% 55% 10% 100%
Other expenses 35% 50% 15% 100%

The "Other" activity cost pool consists of the costs of idle capacity and organization-sustaining costs. The activity measures for the activity cost pools for the year are as follows:

Activity Cost Pool Activity

Filling orders 3,500 orders
Customer support 15 customers.

What would be the overall activity rate for the filling orders activity cost pool?

Answers

Answer:

Espinoza Company

Activity rate for the filling orders activity cost pool:

Overhead for filling orders divided by number of orders

= $130,500/3,500

= $37.29 per order

Explanation:

a) Data and Calculations:

Overhead costs:

Wages and salaries 220,000

Other expenses 150,000

Total $510,000

Distribution of resource consumption:

Filling Orders Activity Cost Pools

                                    Filling Orders  Customer Support  Other  Total

Wages and salaries             35%                      55%              10%     100%

Other expenses                  35%                       50%              15%     100%

Filling orders 3,500 orders

Customer support 15 customers

Overhead Allocation:

                              Filling Orders  Customer    Other        Total

                                                       Support

Wages and salaries $77,000        $121,000      $22,000     $220,000

Other expenses        53,500           75,000        22,500        150,000

Total                       $130,500       $196,000      $44,500     $370,000

Activity rate for filling orders = $130,500/3,500 = $37.29 per order

ABC or Activity Based Costing technique uses activity pools to accumulate and distribute overhead costs so that costs can be allocated based on the level of activity undertaken for each activity pool.

Espinoza Company: The Activity rate for the filling orders activity cost pool:

The Overhead for filling orders divided by the number of orders is

= $130,500/3,500

= $37.29 per order

Calculation of Cost

a) Data and also Calculations:

Overhead costs:

The Wages and salaries 220,000

Then Other expenses 150,000

The total is $510,000

Then Distribution of resource consumption:

After that Filling Orders Activity Cost Pools

                                   Filling Orders  Customer Support  Other  Total

Wages and salaries            35%                      55%              10%     100%

Other expenses                  35%                      50%              15%     100%

Then Filling orders 3,500 orders

Then the Customer support is 15 customers

Overhead Allocation:

                             Filling Orders   Customer   Other       Total

                                                       Support

Wages and salaries $77,000        $121,000     $22,000     $220,000

Other expenses         53,500           75,000         22,500       150,000

                                                                                                                             

The Total                       $130,500       $196,000     $44,500     $370,000

Activity rate for replenishing orders = $130,500/3,500 = $37.29 per order

ABC or When The Activity Based Costing technique uses activity pools to accumulate and distribute overhead costs so that costs can be allocated based on the level of activity undertaken for each activity pool.

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Longman Company manufactures shirts. During June​, Longman made 1,900 shirts but had budgeted production at 2,150 shirts. Longman gathered the following additional​ data:

Variable overhead cost standard $0.80 per DLHr
Direct labor efficiency standard 4.50 DLHr per shirt
Actual amount of direct labor hours 8,620 DLHr
Actual cost of variable overhead $10,344
Fixed overhead cost standard $0.10 per DLHr
Budgeted fixed overhead $968
Actual cost of fixed overhead $1,033

Required:
a. Calculate the variable overhead cost variance.
b. Calculate the variable overhead efficiency variance.
c. Calculate the total variable overhead variance.
d. Calculate the fixed overhead cost variance.
e. Calculate the fixed overhead volume variance

Answers

Answer:

a.  variable overhead cost variance-   $3,448  Unfavorable

b.  variable overhead efficiency variance-  $ 56 unfavorable

c. total variable overhead variance -   $3,504  Unfavorable

d. fixed overhead cost variance - $65   unfavorable

e. Fixed overhead volume variance -$ 112.5   unfavorable

Explanation:

Variable overhead rate variance                                          $

8,620 hours should have cost (8,620  × $0.80)               6896

but did cost                                                                         10,344

Variable overhead rate variance                                    3,448 Unfavorable

Variable overhead rate variance  =$3,448 unfavorable

Efficiency variance                                                                 Hours

190 units should have taken (1,900 × 4.50 hrs)                  8,550

but did take                                                                            8,620

Efficiency variance in hours                                                    70   unfavorable

Standard rate                                                                    ×   $0.80

Efficiency variance                                                           $ 56 unfavorable

Efficiency variance  =$ 56 unfavorable

Total variable overhead= rate variance +efficiency

Total variable overhead =  $3,448 UF + $ 56 UF =  $3,504  U

Total variable overhead = $3,504  Unfavorable

Fixed overhead cost variance

                                                                      $

Budgeted cost                                           968

Actual cost                                                1,033

Fixed overhead cost Variance           65   unfavorable

Fixed Overhead Volume

                                                                            Units

Budgeted units                                                 2,150                                      

Actual    units                                                       1,900

Variance                                                                  250

Standard fixed cost per unit (Notes)                $0.45

Volume Variance                                             112.5   unfavorable

Standard fixed overhead cost per unit

= standard hours × standard Fixed overhead rate = 4.5 × $0.1= $0.45

a.  variable overhead cost variance-   $3,448 Unfavorable

b.  variable overhead efficiency variance-  $ 56 unfavorable

c. total variable overhead variance -   $3,504  Unfavorable

d. fixed overhead cost variance - $65   unfavorable

e. Fixed overhead volume variance -$ 112.5   unfavorable

Kalanick’s attributes include focus and perseverance. These attributes are most closely related to which of the following?

a. high extroversion
b. low emotional stability
c. high agreeableness
d. high openess to experience
e. proactive personality

Answers

Answer: proactive personality

Explanation:

Proactive personality has to do with the individuals who identify opportunities, and also show perseverance and initiative and wait till there's a meaningful change regarding a particular situation.

Since Kalanick’s attributes include focus and perseverance. The attributes are most closely related to proactive personality.

Murray Company reports net income of $770,000 for the year. It has no preferred stock, and its weighted-average common shares outstanding is 350,000 shares. Compute its basic earnings per share.

Answers

Answer:

EPS = 2.2

Explanation:

Earning per share is the amount due to each of the ordinary shareholders after settlement of interest due on loans , preferred dividends and tax.

Earnings per share (EPS) = Earnings attributable to ordinary shareholders ÷ Units of shares

Where ;

Earnings attributable to ordinary shareholders = Net income - Preferred dividends

EPS = $770,000 - 0 ÷ 350,000 shares

EPS = $2.2

All of the following are factors that may complicate capital investment analysis except a.qualitative factors. b.changes in price levels. c.the federal income tax. d.the age of the current fixed assets.

Answers

Answer:

Correct Answer:

a.qualitative factors.

Explanation:

Capital investment analysis is the process by which management plans, evaluates, and controls long-term investment decisions involving fixed assets. For example, in a situation where a decision was taken to install new equipment, replace old equipment, and purchase or construct a new building.

Answer:

d.the age of the current fixed assets.

Explanation:

The age of current fixed assets is straight forward since it was set at start of operation based on company`s usage thus within the entity`s control.

However the other factors makes  capital investment analysis complex as they are not within the entity`s control.

On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $71,000 and $2,900, respectively. During the year Kincaid reported $190,000 of credit sales. Kincaid wrote off $1,750 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $227,700. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales.
The net realizable value of receivables appearing on Kincaid's Year 2 balance sheet will amount to:
a) $29,650.
b) $28,500.
c) $33,300.
d) $31,550.

Answers

Answer:

b) $28,500.

Explanation:

The computation of the net  realizable value of receivables is shown below:

As we know that

Net realizable value = Gross account receivable - allowance for doubtful debts

where,

Gross account receivable is

= Beginning balance of the account receivable + credit sales - written off amount - collections

= $71,000 + $190,000 - $1,750 - $227,700

= $31,550

And, the allowance for doubtful debts is

= Beginning balance of  allowance for doubtful debts - written off + allowance needed

= $2,900 - $1,750 + $190,000 × 1%

= $3,050

So, the net realizable value is

= $31,550 - $3,050

= $28,500

hence, the correct option is b. $28,500

Tameika Johnson’s supervisor is in charge of the arrangements for the annual company party. He has given Johnson the responsibility for finding a caterer for the event, arranging the entertainment, and selecting the door prizes. Johnson’s supervisor used _____ to make her accountable for most of the success or failure of the picnic.

Answers

Answer: delegation of authority

Explanation:

From the question, we are informed that Tameika Johnson’s supervisor is in charge of the arrangements for the annual company party and that he has given Johnson the responsibility for finding a caterer for the event, arranging the entertainment, and selecting the door prizes.

In this scenario, the outcome of the picnic has already been delegated to Johnson because the job role has been shared to him.

Investing $1,500,000 in TQM's Channel Support Systems initiative will at a minimum increase demand for your products 1.7% in this and in all future rounds. (Refer to the TQM Initiative worksheet in the CompXM Decisions menu.) Looking at the Round 0 Inquirer for Andrews, last year's sales were $163,290,917. Assuming similar sales next year, the 1.7% increase in demand will provide $2,775,946 of additional revenue. With the overall contribution margin of 34.1%, after direct costs this revenue will add $946,598 to the bottom line. For simplicity, assume that the demand increase and margins will remain at last year's levels. How long will it take to achieve payback on the initial $1,500,000 TQM investment, rounded to the nearest month

Answers

Answer:

Payback = 19 month

Explanation:

Firm has invested in TQM's Channel Support systems of $1,500,000, It will increase demand of product by 1.7%.

Last years sales revenue was $163,290,917, a 1.7% increase will mean the sales will be:

= $163,290,917 * (1+0.017)

= $163,290,917 * (1.017)

= $166,066,862.59

Thus increase in sales revenue is:

= $166,066,862.589 - $163,290,917

= $2,775,945.589

Now consider contribution margin. From Total Sales, direct variable costs are deducted to get total contribution. The Overall contribution margin is It is 34.1%.

So extra contribution due to 1.7% increase in sales is = $2,775,945.589 * 34.1%

= $946,597.45

Thus increase in contribution margin will also increase profit to the same extent as there is no addition in fixed cost due to this project. So firm will be able to recover $946,597.45 of initial investment of $1,500,000 in one year.

Pay back is the time required to recover this full initial investment. It ascertained by dividing $1,500,000 amount by the net addition in profit per year.

Payback = $1,500,000 / $946,597.45

Payback = 1.585 per year * 12 month

Payback = 19.02 month

Payback = 19 month approximately

Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31, 2017. (Amounts to be deducted should be indicated with a minus sign.)

Selected 2017 Income Statement Data Selected Year-End 2017 Balance Sheet Data
Net income $470,000 Accounts receivable increase $40,400
Depreciation expense 87,000 Prepaid expenses decrease 16,500
Gain on sale of machinery 23,000 Accounts payable increase 10,000
Wages payable decrease 2,900

Answers

Answer:

Cash generated by operating activities is $517,200.

Explanation:

Cash flows from operating activities

Net Income                                                                $470,000

Adjustments to reconcile net income to operating cash flow

Add: Depreciation Expense        $87,000

Less: Gain on Sale of Machinery $-23,000             $64,000

Change in Operating Assets and Liabilities

Accounts receivable increase $-40,400

Prepaid expenses decrease         $16,500

Accounts payable increase          $10,000

Wages payable decrease             $-2,900               $-16,800

Cash generated by operating activities                   $517,200

Deming, the proponent of total quality management, argued that management has the responsibility to train employees in new skills.
A. True
B. False

Answers

Answer:

Its TRUE  

Explanation:

Management should train employees in new skill, where Deming argued that management has the responsibility to train employees in new skills to keep pace with changes in the workplace. In addition, he believed that achieving better quality requires the commitment of everyone in the company.

Weller Company's budgeted unit sales for the upcoming fiscal year are provided below: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 34,000 36,000 27,000 32,000 The company’s variable selling and administrative expense per unit is $3.30. Fixed selling and administrative expenses include advertising expenses of $11,000 per quarter, executive salaries of $53,000 per quarter, and depreciation of $33,000 per quarter. In addition, the company will make insurance payments of $4,000 in the first quarter and $4,000 in the third quarter. Finally, property taxes of $7,200 will be paid in the second quarter. Required: Prepare the company’s selling and administrative expense budget for the upcoming fiscal year. (Round "Per Unit" answers to 2 decimal places.)

Answers

Answer and Explanation:

The preparation of company’s selling and administrative expense budget for the upcoming fiscal year is shown below:-

                                     Weller Company

              Selling and Administrative Expense Budget

Particulars     1st Quarter  2nd Quarter  3rd Quarter  4th Quarter   Year

Budgeted Unit

Sales a         34,000         36,000          27,000       32,000     129,000

Variable Selling and Administrative Expense

Per Unit           $3.3               $3.3                $3.3           $3.3           $3.3

Variable Selling and Administrative

Expense (a × b) $112,200  $118,800       $89,100     $105,600     $425,700

Fixed Selling and Administrative Expense

Advertising    $11,000       $11,000        $11,000         $11,000        $44,000

Executive

Salaries            $53,000   $53,000    $53,000      $53,000    $212,000

Insurance         $4,000       0                 $4,000           0            $8,000

Property Taxes 0               $7,200          0                   0             $7,200

Depreciation   $33,000     $33,000   $33,000     $33,000     $132,000

Total Fixed Selling and Administrative

Expense          $101,000   $104,200   $101,000   $97,000      $403,200

Total Selling and Administrative

Expense         $213,200     $223,000   $190,100  $202,600   $828,900

Less:

Depreciation  $33,000      $33,000    $33,000    $33,000    $132,000

Cash Paid for Selling and

Administrative

Expenses     $180,200      $190,000   $157,100  $169,600     $696,900

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