A production line is to be designed for a product whose completion requires 19 minutes of work. The factory works 400 minutes per day. Can an assembly line with five workstations make 100 units per day? A. yes, with exactly 250 minutes to spare B. no, but four workstations would be sufficient C. no, it will fall short even with a perfectly balanced line D. yes, with high line efficiency E. cannot be determined from the information given

Answers

Answer 1

Answer:

C. No, it will fall short even with a perfectly balanced line.

Explanation:

It is clearly seen here that the workforce does not tally with the target production desired, so it is explained that making the target unit of 100 will certainly fall short, even with a perfectly balanced line.

They could rely on the numbers to make intelligent estimates of the magnitude, timing, and uncertainty of future cash flows and to judge whether the resulting estimate of value was fairly represented in the current stock price. And they could make wise decisions about whether to invest in or acquire a company, thus promoting the efficient allocation of capital.


Related Questions

A bakery buys sugar from a big distributor to use in baking cakes. Typically, they use 3663 bags of sugar in a year. The price of sugar is typically $14 per bag. The cost to the bakery for placing an order is $26, and the annual carrying cost is $17 per bag. The distributor has offered the bakery the following volume discount schedule: Order Size Discount rate on the original price 1--449 0 percent 450--799 5 percent more than 800 10 percent We are trying to find how many bags of sugar should the store order, whenever they place a new order of sugar.Assume 364 days a year and 52 weeks a year. IMPORTANT: Note, the discounts off of original price are reported. You need to calculate the actual prices. Keep two decimal places in your calculations.If we ignore the discounts, how many bags of sugar should we order

Answers

I have no idea sorry

Elgin Battery Manufacturers had sales of $1,000,000 in 2009 and their cost of goods sold represented 70 percent of sales. Selling and administrative expenses were 10 percent of sales. Depreciation expense was $100,000 and interest expense for the year was $10,000. The firm's tax rate is 30 percent. What is the dollar amount of taxes paid

Answers

Answer:

$27,000

Explanation:

The dollar amount of taxes paid is the earnings before tax multiplied by the tax rate.

The earnings before tax=sales-costs of sale-selling and administrative expenses-depreciation expense-interest expense

sales is $1,000,000

costs of sales=$1000,000*70%=$700,000

selling and administrative expenses=10%*$1,000,000=$100,000

depreciation expense=$100,000

interest expense=$10,000

earnings before tax=$1,000,000-$700,000-$100,000-$100,000-$10,000=$90,000

taxes paid=$90000 *30%=$27,000

Stone Company changed its method of pricing inventories from FIFO to LIFO. What type of accounting change does this represent? A change in accounting estimate for which the financial statements for prior periods included for comparative purposes should be restated. A change in accounting principle for which the financial statements for prior periods included for comparative purposes should be presented as previously reported. A change in accounting estimate for which the financial statements for prior periods included for comparative purposes should be presented as previously reported. A change in accounting principle for which the financial statements for prior periods included for comparative purposes should be restated.

Answers

Answer:

A change in accounting principle for which the financial statements for prior periods included for comparative purposes should be presented as previously reported.

Explanation:

Since the accounting method is being changed from FIFO to LIFO, any adjusting of prior year balances would be impractical. If the change is from LIFO to FIFO, then it makes more sense to adjust prior year balances. By impractical, it means that any changes would be too difficult and expensive to determine, and the value of the change  is insignificant (materiality principle).

Generally US GAAP rules require that changes from FIFO to LIFO be disclosed in the footnotes only.

Selected information from Illikon Corporation's accounting records and financial statements for 2021 is as follows ($ in millions): Cash paid to acquire equipment $ 120 Cash paid to acquire land 54 Treasury stock acquired with cash and then retired 75 Dividend revenue received 66 Gain from the sale of buildings 78 Proceeds from sale of buildings 135 In its statement of cash flows, Illikon should report net cash outflows from investing activities of:

Answers

Answer:

$39

Explanation:

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

We can calculate the Net cash outflow by using following formula:

Net cash outflow from investing activities to be reported  = Cash paid to acquire equipment + Cash paid to acquire land - Proceeds from sale of building

By putting the value in the formula, we get

= $120 + $54 - $135

= $39

Hence, Net cash outflow from investing activities to be reported is $39.

Check all true statements regarding CMBS:

a.CMBS have less exposure to prepayment risk than RMBS

b.Loans in a CMBS deal are recourse loans The multifamily/apartment CRE sector never uses CMBS for financing as it relies on RMBS

c.CMBS are the main source of financing for commercial real estate loans

d.The number of commercial mortgages in a CMBS deal are usually lower than the number of residential mortgage in a RMBS deal

Answers

Answer: A and D only

Explanation:

CMBS Loan are also referred to as a Conduit Loan, this is a type of real estate loan usually commercial, which is secured by a first-position mortgage on a commercial property. These loans are usually packaged, and sold by a Conduit Lender, commercial banks, investment banks, and syndicates of banks.

Loans in a CMBS are always bigger so they are less in a CMBS deal. Sometimes it’s onlyone loan in a Single Asset (SA) CMBS deal

Prepayments are discouraged in CMBS through defeasance,prepayment penalties or yield maintenance fees.

Answer:

a.CMBS have less exposure to prepayment risk than RMBS

d. The number of commercial mortgages in a CMBS deal are usually lower than the number of residential mortgage in a RMBS deal

Explanation:

Commercial Mortgage-Backed Securities (CMBS) as the name implies are mortgage backed securities that are secured with commercial mortgages while Residential Mortgage-Backed Securities (RMBS) are mortgage backed securities secured by residential property.

a) CMBS are based on mortgages which usually have a fixed term contract in place meaning that prepayment is less of a thing with CMBS than with RMBS so the former does indeed have a less exposure to prepayment risk than the latter.

d) This is indeed true because both packages have to look appealing to investors but can only use different amounts to reach the minimum threshold. This is because Commercial Mortgages pay more than Residential Mortgages so more RMBS have to be pulled together to form an attractive investment as opposed to CMBS. This is why the number in CMBS are usually less than that of RMBS.

Oklahoma enacts a law requiring all businesses in the state to donate 10 percent of their profits to Protestant churches that provide services to indigent persons. Price-Lo Mart files a law suit to block the enforcement of the law. The court will probably decide that this law violates: a. the Free Exercise clause. b. the Supremacy clause. c. the Equal Protection clause. d. the Establishment clause.

Answers

Answer: d. the Establishment clause.

Explanation:

The Establishment Clause was put in place as a limitation by the United States Congress to prevent excesses or stop it from passing legislation forcing an establishment, religion, which broadly made it illegal for the government to promote theocracy or promote a specific religion with taxes. As this is the case with the state asking business to donate 10% of their profit to Protestant.

Answer:

The establishment clause.

Explanation:

Establishment clause, also called establishment-of-religion clause, clause in the First Amendment to the U.S. Constitution forbidding Congress from establishing a state religion. It prevents the passage of any law that gives preference to or forces belief in any one religion. It is paired with a clause that prohibits limiting the free expression of religion.

As the citizenry became more diverse, however, challenges arose to existing laws and practices, and eventually, the Supreme Court was called upon to determine the meaning of the establishment clause.

Though not explicitly stated in the First Amendment, the clause is often interpreted to mean that the Constitution requires the separation of church and state.

Which one of the following is not true when the economy is in macroeconomic​ equilibrium? A. When the economy is at​ long-run equilibrium, actual GDPequalspotential GDP. B. When the economy is at​ long-run equilibrium, firms will have excess capacity. C. When the economy is at​ long-run equilibrium, total unemploymentequalsfrictional unemploymentplusstructural unemployment. D. When the economy is at​ long-run equilibrium, SRASequalsADequalsLRAS.

Answers

Answer:

The correct answer to the following question will be Option C.

Explanation:

Throughout the macroeconomic equilibrium, the aggregate supply curve becomes equivalent to something like the supply curve, the real GDP seems to be comparable to potential Output (GDP), however, if frictional as well as systemic unemployment seems to be the maximum total poverty throughout the longer term.Consequently, whenever the economy seems to be in macroeconomic equilibrium, the argument which is not accurate would be that the businesses would have excess power.

So that Option C is the right answer.

Suppose the interest rate is 4.3 %. a. Having $ 400 today is equivalent to having what amount in one​ year? b. Having $ 400 in one year is equivalent to having what amount​ today? c. Which would you​ prefer, $ 400 today or $ 400 in one​ year? Does your answer depend on when you need the​ money? Why or why​ not? a. Having $ 400 today is equivalent to having what amount in one​ year?

Answers

Answer: a. $417.2. b. $383.51. c. $400 today.

Explanation:

a. Present value = $400

Interest rate = 4.3%

Future value= PV(1+r)^n

= 400(1+0.043)^1

= 400(1.043)

= $417.2

b. FV = $400

PV = Unknown

Interest = 4.3%

Future value= PV(1+r)^n

400 = PV(1+0.043)^1

400 = PV(1.043)

PV = 400/1.043

PV = $383.51

c. I'll prefer $400 today.

My answer does not depend on me needing money presently, I can actually invest the $400 today and get more value when it's a year. I'll have made more than $400.

Aquatic Equipment Corporation decided to switch from the LIFO method of costing inventories to the FIFO method at the beginning of 2021. The inventory as reported at the end of 2020 using LIFO would have been $59,000 higher using FIFO. Retained earnings at the end of 2020 was reported as $770,000 (reflecting the LIFO method). The tax rate is 35%. Required: 1. Calculate the balance in retained earnings at the time of the change (beginning of 2021) as it would have been reported if FIFO had been used in prior years. 2. Prepare the journal entry at the beginning of 2021 to record the change in accounting principle.

Answers

Answer:

1. The balance in retained earnings at the time of the change is $808,350

2. The journal entry at the beginning of 2021 to record the change in accounting principle woud be as follows:

Inventoty         $59,000

                  Retained Earnings   $38,350

                  Tax Payable          $20,650

Explanation:

1. In order to calculate the balance in retained earnings at the time of the change (beginning of 2021) as it would have been reported if FIFO had been used in prior years we would have to make the following calculation:

balance in retained earnings at the time of the change=Begining Retained earnings of 2021+Adjusted net income

Adjusted net income=Ending inventory higher by amount×(1-tax rate)

Adjusted net income=$59,000×(1-0.35)

Adjusted net income=$38,350

balance in retained earnings at the time of the change=$770,000+$38,350

balance in retained earnings at the time of the change=$808,350

2. The journal entry at the beginning of 2021 to record the change in accounting principle woud be as follows:

Inventoty         $59,000

                  Retained Earnings   $38,350

                  Tax Payable          $20,650= $59,000×0.35

How long do foodbourne illnesses last

Answers

Answer:

5-7 days

Explanation:

Immune-comprised individuals may experience a more serious illness. Severe diarrhea (often bloody diarrhea), abdominal cramps, and vomiting. Usually little or no fever. Can begin 2 to 8 days, but usually 3-4 days after consumption of contaminated food or water and last about 5 to 7 days depending on severity.

Answer:

about a week

Explanation:

Can begin 2 to 8 days, but usually 3-4 days after consumption of contaminated food or water and last about 5 to 7 days depending on severity.

A division is considering the acquisition of a new asset that will cost $2,950,000 and have a cash flow of $740,000 per year for each of the four years of its life. Depreciation is computed on a straight-line basis with no salvage value. Ignore taxes. Required: a. & b. What is the ROI for each year of the asset's life if the division uses beginning-of-year asset balances and net book value for the computation? What is the residual income each year if the cost of capital is 8 percent?

Answers

Answer and Explanation:

The computation of ROI for each year of the asset's life and residual income each year is shown below:-

Year            Investment base              ROI                   Residual income

1                   $2,950,000                       8%                  -$233,500

2                  $2,212,500                          11%                 -$233,500

3                   $1,475,000                          17%                  -$115,500

4                   $737,500                             34%                 -$56,500

ROI = Net income ÷ Total investment × 100

Net Income = Cash flow - Depreciation

Residual income = Net income - (Investment × Cost of capital)

Depreciation = Investment base ÷ 4 years

The return on investment and the residual income can be find out by using the excel spreadsheet. Kindly find it in the attachment

Which of the following statements about public speaking skills is most accurate?

a. Effective speaking skills are important for all employees.
b. Individuals are born with the ability to speak effectively in public.
c. The fear of public speaking cannot be conquered.
d. Recruiters rank effective public speaking skills low on their list of most sought-after skills desired in employees.

Answers

Answer:

a

Explanation:

For the employees to be successful in their respective fields ,one of the most essential skill required to succeed is public speaking. Public speaking is about communicating your idea or thoughts in public in an effective ways. It is all about being able to make the other people understand our thoughts.

All other options are absurd as far public speaking skills  are concerned.

A company sells goods to a customer who will pay the full amount in 30 days.How should the company record the sale

Answers

Answer:

Credit sales

Debit receivables

Explanation:

This is a sales on account transaction which affect the sales and receivables account.

When this transaction occurs , the company has definitely made a sale which will lead to an inflow of cash in 30 days time, even though the income is recognized immediately according to the accrual method of accounting

To record this , the sales account is credited with the value of the goods sold and the account receivable is debited for with the same amount.

The receivable is a record of payment being owed to the company by its customers.

A company produces a single product. Last year, fixed manufacturing overhead was $30,000, variable production costs were $48,000, fixed selling and administration costs were $20,000, and variable selling administrative expenses were $9,600. There was no beginning inventory. During the year, 3,000 units were produced and 2,400 units were sold at a price of $40 per unit. Under variable costing, net operating income would be

Answers

Answer:

Net operating income= (2,000)

Explanation:

Giving the following information:

fixed manufacturing overhead was $30,000

variable production costs were $48,000

fixed selling and administration costs were $20,000

variable selling administrative expenses were $9,600.

During the year, 3,000 units were produced and 2,400 units were sold for $40 per unit.

First, we need to calculate the unitary product variable cost:

Unitary product cost= 48,000/3,000= $16

Income statement:

Sales= 2,400*40= 96,000

Total variable cost= (2,400*16) + 9,600= (48,000)

Contribution margin= 48,000

fixed manufacturing overhead= (30,000)

fixed selling and administration costs were= (20,000)

Net operating income= (2,000)

On January 1, 2021, Legion Company sold $250,000 of 6% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $163,976, priced to yield 12%. Legion records interest at the effective rate. Legion should report bond interest expense for the six months ended June 30, 2021, in the amount of: (Round your answer to the nearest dollar amount.)

Answers

Answer:

The bond interest expense to be shown in profit or loss as t 30 June 2021

$9,838.56

Explanation:

The bond interest expense is the actual finance cost of using the funds made available by bondholders while the coupon payment is the portion of the finance cost paid to them periodically.

Interest expense=bonds cash proceeds*yield to maturity*6/12

bonds cash proceeds is $163,976

yield to maturity is 12%

interest expense=$163,976*12%*6/12=$9,838.56  

Answer:

$9,838.56  

Explanation:

Interest Expense using effective interest rate method can determined by multiplying the carrying value of the bond and yield rate of the bond because the bonds issued on the discount has different interest expense than the interest payment made to bond holder.

As the interest is paid semiannually the interest expense will be calculated for only 6 months.

Interest expense=Cash proceeds on issuance of bond x YTM x 6/12

As per given data

Cash proceeds are $163,976

YTM is 12%

Interest expense=$163,976 x 12% x 6/12=$9,838.56  

Frederick Company has two service departments (Cafeteria Services & Maintenance). Frederick has two production departments (Assembly Department & Packaging Department.) Frederick uses a step allocation method where Cafeteria Services is allocated to all departments and Maintenance Services is allocated to the production departments. All allocations are based on total employees. Cafeteria Services has costs of $255,000 and Maintenance has costs of $175,000 before any allocations. What amount of Maintenance total cost is allocated to the Packaging Department? (round to closest whole dollar) Employees are: Cafeteria Services 4 Maintenance 5 Assembly Department 10 Packaging Department 10

Answers

Answer:

The Total allocation of maintenance cost of packaging department is $87,500

Explanation:

According to the given data we have the following:

The Total Maintenance cost is $175,000 before allocation.

Total employees of in Production Department is=  10 Assembly + 10 Packaging= 20

Hence, Total maintenance cost per employee = $175,000 / 20

Total maintenance cost per employee =$8,750

                                                       

Therefore, the Total allocation of maintenance cost of packaging department= Total maintenance cost per employee× Employees Packaging Department

Total allocation of maintenance cost of packaging department=$ 8,750 X 10 employees= $87,500

Haylock Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The direct labor budget indicates that 7,800 direct labor-hours will be required in August. The variable overhead rate is $1.20 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $100,560 per month, which includes depreciation of $8,790. All other fixed manufacturing overhead costs represent current cash flows. The August cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:

Answers

Answer:

Total cash= $101,130

Explanation:

Giving the following information:

Estimated direct labor hours=  7,800

The variable overhead rate is $1.20 per direct labor-hour.

The company's budgeted fixed manufacturing overhead is $100,560 per month, which includes depreciation of $8,790.

We need to deduct the depreciation expense because it is not a cash disbursement.

Cash disbursement:

Variable overhead= 7,800*1.2= $9,360

Fixed overhead= (100,560 - 8,790)= $91,770

Total cash= $101,130

Joe Jenkins, the owner of Jenkins Manufacturing, is considering whether to produce a new product. Joe will be selling the product for a price of $70 per unit. If he uses the current equipment, Joe estimates the fixed costs per year to be $40,000 and variable costs for each unit produced to be $50. However, Joe is considering the purchase of new equipment that would produce the product more efficiently. Joe’s fixed cost would be raised to $60,000 per year, but the variable cost would be reduced to $25 per unit. If Joe's demand forecast is 900 units, should Joe produce the product using the existing or the new equipment? Produce using the existing equipment. Produce using the new equipment. Does not matter, which equipment is used. The product should not be produced at all.

Answers

Answer:

Jenkins Manufacturing

Joe should produce using the new equipment.

Explanation:

a) Costs incurred using the old equipment:

Variable costs = $45,000 ($50 x 900)

Fixed costs = $40,000

Total costs = $85,000

Operating Loss = $22,000 ($63,000 - 85,000)

b) Costs incurred using the new equipment:

Variable costs = $22,500 ($25 x 900)

Fixed costs = $60,000

Total costs = $82,500

Operating Loss = $19,500 ($63,000 - 82,500)

Production using the new equipment would reduce the operating loss by $2,500.

The company should produce by using the new equipment.

Based on thw information given, the cost that's incurred using the old equipment will be

Variable costs = ($50 x 900) = $45,000

Fixed costs = $40,000

Total costs = Fixed cost + Variable cost

= $40000 + $45,000

= $85,000

Operating Loss will be:

= ($63,000 - 85,000) = -$22000

The costs incurred using the new equipment will be:

Variable costs = ($25 x 900) = $22,500

Fixed costs = $60,000

Total costs = $60000 + $22500 = $82,500

Operating Loss = ($63,000 - 82,500) = -$19,500

Based on the calculation, the company should produce by using the new equipment.

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Andrews Corporation has income from operations of $253,000. In addition, it received interest income of $25,300 and received dividend income of $28,900 from another corporation. Finally, it paid $13,000 of interest income to its bondholders and paid $47,400 of dividends to its common stockholders. Using the 2013 corporate tax schedule, what is the firm’s federal income tax? Round your intermediated and final answers to the nearest cent. $

Answers

Answer:

$107,122

Explanation:

corporate tax rate during 2013 = 39.1%

Andrews Corporation net taxable income:

from operations $253,000from interests $25,300from dividends $28,900 - dividends received deductions $20,230 = $8,670

Deductions on net taxable income*:

interest paid to bondholders = $13,000

Net taxable income = $286,970 - $13,000 = $273,970

federal income tax = $273,970 x 39.1% = $107,122

*Dividends are paid with retained earnings which include after tax net income. They are not tax deductible.

The classical dichotomy and the neutrality of money

The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction.

Maria spends all of her money on paperback novels and beignets. In 2011 she earned $27.00 per hour, the price of a paperback novel was $9.00, and the price of a beignet was $3.00.

Which of the following give the nominal value of a variable?

1-The price of a beignet is $3.00 in 2011.

2-Maria's wage is $27.00 per hour in 2011.

3-The price of a beignet is 0.33 paperback novels in 2011.

Which of the following give the real value of a variable?

1-The price of a paperback novel is 3 beignets in 2011.

2-Maria's wage is 9 beignets per hour in 2011.

3-The price of a paperback novel is $9.00 in 2011.

Suppose that the Fed sharply increases the money supply between 2011 and 2016. In 2016, Maria's wage has risen to $54.00 per hour. The price of a paperback novel is $18.00 and the price of a beignet is $6.00.

In 2016, the relative price of a paperback novel is _________

Between 2011 and 2016, the nominal value of Maria's wage (increases/decreases/remains the same) and the real value of her wage ____________

Monetary neutrality is the proposition that a change in the money supply ________ nominal variables and ______ real variables.

Answers

Answer:

1. Relative price = $3

2. Increases

3. affects , not affect

Explanation:

As per the data given in the question,

1) The relative price of a paperback novel in 2016 = Maria,s wage ÷ Price of a paperback novel

= $54÷$18

= $3

2) Between 2011 and 2016, the nominal value increases and the real value of Maria's wage remains the same.

3)Monetary neutrality is proposition that the change in the money supply affects the nominal variables but it does not affect the real variables.

Exercise 4-20 (Algo) Statement of cash flows; indirect method [LO4-8] Presented below is the 2021 income statement and comparative balance sheet information for Tiger Enterprises. TIGER ENTERPRISES Income Statement For the Year Ended December 31, 2021 ($ in thousands) Sales revenue $ 15,500 Operating expenses: Cost of goods sold $ 5,100 Depreciation expense 410 Insurance expense 950 General and administrative expense 3,500 Total operating expenses 9,960 Income before income taxes 5,540 Income tax expense (2,216 ) Net income $ 3,324 Balance Sheet Information ($ in thousands) Dec. 31,2021 Dec. 31, 2020 Assets: Cash $ 640 $ 370 Accounts receivable 835 1,000 Inventory 825 770 Prepaid insurance 140 40 Equipment 3,300 2,650 Less: Accumulated depreciation (1,180 ) (770 ) Total assets $ 4,560 $ 4,060 Liabilities and Shareholders' Equity: Accounts payable $ 385 $ 530 Accrued liabilities (for general & administrative expense) 385 570 Income taxes payable 365 320 Notes payable (due 12/31/2022) 1,100 800 Common stock 1,120 970 Retained earnings 1,205 870 Total liabilities and shareholders' equity $ 4,560 $ 4,060 Required: Prepare Tiger’s statement of cash flows, using the indirect method to present cash flows from operating activities. (Hint: You will have to calculate dividend payments). (Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

Answers

Answer and Explanation:

The preparation of the cash flow statement is presented below:        

                                TIGER ENTERPRISES

                                  Cash flow statement

Cash flow from operating activities

Net income $3,324

Adjustment made

Add: Depreciation expenses $410

Add: Decrease in account receivable $165 ($835 - $1,000)

Less: Increase in inventory -$55($825 - $770)

Less: Increase in prepaid insurance -$100 ($140 - $40)

Less: Decrease in account payable -$145 ($385 - $530)

Less: Decrease in accrued liabilities -$185 ($385 - $570)

Add: Increase in income taxes payable $45 ($365 - $320)

Net cash provided by operating activities  $3,459

Cash flow from investing activities  

Purchase of equipment -$650 ($3,300 - $2,650)

Net cash used by investing activities -$650

Cash flow from financing activities

Issuance of the note payable $300 ($1,100 - $800)

Issuance of the common stock $150 ($1,120 - $970)

Dividend paid -$2,989 ($870 + $3,324 - $1,205)

Net cash used by financing activities -$2,539

Increase in cash $270

Add: Beginning cash balance $370

Ending cash balance $670

The items which shown in a positive sign reflects the cash inflow and the items which shown in a negative sign reflects the cash outflow ,

A bidding firm, A, is worth $27,000 as a stand-alone entity. A target firm, B, is worth $12,000 as a stand-alone entity, but $18,000 if it is acquired and integrated with Firm A. Several other firms are interested in acquiring Firm B, and Firm B is also worth $18,000 if it is acquired by these other firms. If A acquired B, would this acquisition create value? If yes, how much? How much of this value would the equity holders of A receive? How much would the equity holders of B receive?

Answers

Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

Firm A’s worth as a stand-alone entity = $27,000

Firm B’s worth as a stand-alone entity = $12,000

But if Firm A acquired Firm B it’s increase worth of Firm B at $18000.

Firm A is acquired Firm B, this acquisition create value of

= $18,000 - $12000

= $6000.

With this acquisition equity holders of Firms received $18,000 which is $6,000 more than Firm B stand alone.

Stefani Company has gathered the following information about its product. Direct materials: Each unit of product contains 3.90 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 1.10 pounds. Materials cost $4 per pound, but Stefani always takes the 2.00% cash discount all of its suppliers offer. Freight costs average $0.40 per pound. Direct labor. Each unit requires 1.60 hours of labor. Setup, cleanup, and downtime average 0.10 hours per unit. The average hourly pay rate of Stefani’s employees is $10.90. Payroll taxes and fringe benefits are an additional $3.20 per hour. Manufacturing overhead. Overhead is applied at a rate of $7.60 per direct labor hour. Compute Stefani’s total standard cost per unit

Answers

Answer:

$58.49 per unit

Explanation:

According to the scenario, computation of the given data are as follow:-

We can calculate the total standard cost by using following formula:-

Material Cost Per Unit = Material Cost × (1 - Cash Discount Rate) + Freight Average Cost

= $4 × (1 - 0.02) + .40

= $4 × 0.98 + .40

= $4.32 per pound

Material Used Per Unit = Each Unit Product Contain Material + Average Waste and Spoilage Per Unit Produced

= 3.90 + 1.10

= 5

Direct Material Cost=  Material Cost Per Unit × Material Used Per Unit

= $4.32 × 5

= $21.6 per unit

Cost Per hour = Average hour Pay Rate + Payroll Taxes and Fringe Benefits Cost

= $10.90 + $3.20

= $14.1

Direct Labor hour = Cost Per hour × Each Unit Required hour

= $14.1 × (1.60 + 0.10)

= $14.1 × 1.70

= $23.97 per unit  

Manufacturing Overhead

= Overhead Applied Rate Per Direct Labor hour × Each Unit Required Hour

= $7.60 × (1.60 + 0.10)

= $7.60 × 1.70

= $12.92 per unit

Total Standard Cost Per Unit = Direct Material Cost + Direct Labor Cost + Manufacturing Overhead

= $21.6 + $23.97 + $12.92

= $58.49 per unit

The Computation of Stefani's total standard cost per unit will give result of  $58.49 per unit.

Total Standard Cost

To Calculate Total Standard Cost we need to add Direct Material Cost,   Direct Labor Cost  and Manufacturing Overhead.

A. Direct Material Cost = Material Cost Per Unit × Material Used Per Unit

Material Cost Per Unit = Material Cost × (1 - Cash Discount Rate) + Freight Average Cost

= $4 × (1 - 0.02) + .40

= $4.32 per pound.

Material Used Per Unit = Each Unit Product Contain Material + Average Waste and Spoilage Per Unit Produced

= 3.90 + 1.10

= $5

Direct Material Cost = $4.32 × 5  = $21.6 per unit.

B. Direct Labor Cost

It equals to Cost Per hour × Each Unit Required hour.

Cost Per hour = Average hour Pay Rate + Payroll Taxes and Fringe Benefits Cost

= $10.90 + $3.20

= $14.1

Direct Labor Cost =  $14.1 × (1.60 + 0.10) = $23.97 per unit  

C. Manufacturing Overhead

It equals to Overhead Applied Rate Per Direct Labor hour × Each Unit Required Hour

= $7.60 × (1.60 + 0.10)

= $12.92 per unit.

Total Standard Cost Per Unit = A + B + C = $21.6 + $23.97 + $12.92

= $58.49 per unit

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The reported net incomes for the first 2 years of Sandra Gustafson Products, Inc., were as follows: 2014, $147,000; 2015, $185,000. Early in 2016, the following errors were discovered.

1. Depreciation of equipment for 2014 was overstated $17,000.
2. Depreciation of equipment for 2015 was understated $38,500.
3. December 31, 2014, inventory was understated $50,000.
4. December 31, 2015, inventory was overstated $16,200.

Prepare the correcting entry necessary when these errors are discovered. Assume that the books are closed. (Ignore income tax considerations.)

Answers

Answer:

Debit 2016 Beginning retained earning for $37,700;

Credit Accumulated depreciation for $21,500, and

Credit Inventory for $16,200.

Explanation:

The entries will affect the 2016 beginning Retained earning except for the December 31, 2014 inventory which was understated by $50,000 which was a self correcting error at the end of 2015.  

Accumulated depreciation = Understatement of 2015 depreciation - Overstatement of 2014 depreciation = $38,500 - 17,000 = $21,500

The entries will affect the 2016 beginning retained earning as follows:

Details                                                         Dr ($)                  Cr ($)

Beginning retained earning                     37,700

Accumulated depreciation                                                21,500

Inventory - 2015 Overstatement                                       16,200

To correct the error discovered in the accounts.                             .

In conducting the audit procedures for the search for unrecorded liabilities, the materiality/scope for this area was accessed by the auditors at $5,000. Adjustments are only recorded for individual items equal to or exceeding materiality. The company fiscal year end is December 31, 2019 and the last day of fieldwork is estimated to be February 1, 2020. Below is an item from the check/cash disbursement register, which is not recorded in the accounts payable subsidiary ledger at December 31, 2019. Daniel Breen, Esquire Check Number 1334 Check Date 1/6/2020 Amount $6,000 Nature of the Expenses: Corporate legal services for December 2019 Required: Determine if this check/cash disbursement is recorded in the proper accounting period. This transaction requires an accounting adjustment to the financial statements for the fiscal year ending 12/31/2019 - If you believe that statement is correct - answer "Yes" This transaction does NOT require an accounting adjustment to the financial statements for the fiscal year ending 12/31/2019 - If you believe that statement is correct - answer "No."

Answers

Answer:

"No."

This transaction does NOT require an accounting adjustment to the financial statements for the fiscal year ending 12/31/2019 - If you believe that statement is correct - answer "No."

Explanation:

The check disbursement does not require an adjustment to the financial statements for the fiscal year ending 12/31/2019, because the check is dated 1/6/2020.

Adjusting entries are changes to the journal entries which tries to match transactions to their correct accounting periods.  A check dated January 6, 2020 does not belong to the fiscal year ending December, 2019.

Adjusting entries are usually for Accrued Revenue, Accrued Expenses, Deferred Revenue, Prepaid Expenses, and Depreciation Expenses.

Johnson Enterprises uses a computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hours per night, plus every third Saturday, to keep up with the volume of sales invoices. Management is considering updating its computer with a faster model that would eliminate all of the overtime processing.

Current Machine New Machine
Original purchase cost $15,300 $25,100
Accumulated depreciation $6,200 ------
Estimated annual operating costs $24,800 $19,800
Remaining useful life 5 years 5 years

If sold now, the current machine would have a salvage value of $10,800. If operated for the remainder of its useful life, the current machine would have zero salvage value. The new machine is expected to have zero salvage value after 5 years.
Should the current machine be replaced?

Answers

Answer:

The current machine should be replaced.  It costs more plus the overhead costs to maintain the current machine than it would cost to maintain the new machine.

The analysis is as follows:

Explanation:

1. Cost Analysis of Current Machine:

Book value of equipment = $9,100 ($15,300 - $6,200)

Annual Operating Costs for 5 years = $124,000 ($24,800 x 5)

Total cost = $133,100 ($9,100 + $124,000)

2. Cost Analysis for New Machine:

Purchase cost = $25,100

Annual operating costs for 5 years = $99,000 ($19,800 x 5)

Total cost for 5 years = $124,100 ($25,100 + $99,000)

Since both machines have no salvage value at the end of 5 years, it makes sense to purchase the new machine with a cost saving of $9,000 ($133,100 - $124,100) plus the overtime cost that will be eliminated.

Riegel Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2014, consists of products D, E, F, G, H, and I. Relevant per unit data for these products appear below.
Item D Item E Item F Item G Item H Item I
Estimated selling price $120 $110 $95 $90 $110 $90
Cost 75 80 80 80 50 36
Cost to complete 30 30 25 35 30 30
Selling costs 10 18 10 20 10 20
Using the LCNRV rule, determine the proper unit value for statement of financial position reporting purposes at December 31, 2014, for each of the inventory items above.

Answers

Answer:

The answer is 75 that is what i put and got it correct

Journalize the following transactions assuming the perpetual inventory system:
July 3 Sold merchandise on account for $3,750 terms.
The cost of the goods sold was $2,000. July 5 Issued credit memo for $1,050 for merchandise returned from sale on July 3. The cost of the merchandise returned was $610. July 12 Received check for the amount due for sale on July 3 less return on July 5. July 17 Sold merchandise for $7,000 plus 6% sales tax to cash customers. The cost of the goods sold was $3,830.

Answers

Answer:

General Journal

Perpetual Inventory system

Date              Particulars                          Debit             Credit

July 3            Account Receivable        $3,750

                                                  Sales                         $3,750

Sold merchandise on account for $3,750 terms.

                        Cost of Goods Sold      $ 2000

                                 Merchandise Inventory            $2000

The cost of the goods sold was $2,000.

July 5         Sales Returns             $1,050

                                     Account Receivable         $1,050

Issued credit memo for $1,050 for merchandise returned from sale on July 3.

         

              Merchandise Inventory            $610

                                           Cost of Goods Sold      $ 610

The cost of the merchandise returned was $610.

July 12              Bank (cash)                  $2700

                                Account Receivable                 $2700

Received check for the amount due for sale on July 3 less return on July 5. ($3,750-  $1,050 )=$2700

July 17                      Cash                  $ 7420

                                        Sales                              $ 7420

Sold merchandise for $7,000 plus 6% sales tax to cash customers. As sales tax is added to the sales  a combined entry is made . ( 6%* 7000= $ 420)

                       Cost of Goods Sold      $ 3830

                                 Merchandise Inventory            $3830

The cost of the goods sold was $3,830.

Answer:

Please see the Journal entries below.

Explanation:

July 3

Debit: Accounts Receivables $3,750

Debit: Cost of Goods Sold $2,000

         Credit: Sales Revenue $3,750

         Credit: Inventory $2,000

To record sales on Account.

July 5:

Debit: Sales Revenue $1,050

Debit: Inventory $610

         Credit: Cost of Goods Sold $610

         Credit: Accounts Receivables $1,050

To record credit memo.

July 12

Debit: Cash ($3,750 - $1,050) $2,700

         Credit: Accounts Receivables $2,700

To record payment of sales.

July 17

Debit: Accounts Receivables $7,420

Debit: Cost of Goods Sold $3,830

         Credit: Sales Revenue $7,000

         Credit: Sales Tax Payable $420

         Credit: Inventory $3,830

To record sales and cost of goods sold.

As of December 31, 2019, Sheridan Company had $3500 of raw materials inventory. At the beginning of 2019, there was $3000 of materials on hand. During the year, the company purchased $315000 of materials; however, it paid for only $252500. How much inventory was requisitioned for use on jobs during 2019

Answers

Answer: $314,500

Explanation:

When calculating how much of a material of any sort was used, the following formula should be used,

= Beginning inventory + Purchases - Ending inventory

This is the same formula largely used to calculate Cost of Goods sold.

Here, the figure to be concerned about is the actual materials used not the ones paid for.

Plugging in figures into the formula then,

= 3,000 + 315,000 - 3,500

= $314,500

Thus $314,500 was the inventory requisitioned for use on jobs during 2019.

Smart Stream Inc. uses the total cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 10,000 units of cell phones are as follows: Variable costs per unit: Fixed costs: Direct materials $150 Factory overhead $350,000 Direct labor 25 Selling and administrative expenses 140,000 Factory overhead 40 Selling and administrative expenses 25 Total variable cost per unit $240 Smart Stream desires a profit equal to a 30% return on invested assets of $1,200,000. a. Determine the total costs and the total cost amount per unit for the production and sale of 10,000 cellular phones.

Answers

Answer:

Smart Stream Inc.

a) Total costs:

Variable costs:

Direct materials = $1,500,000 ($150 x 10,000)

Direct labor = $250,000 ($25 x 10,000)

Factory overhead = $400,000 ($40 x 10,000)

Selling and Administrative = $250,000( $25 x 10,000)

Total variable costs = $2,400,000 ($240 x 10,000)

Fixed Costs:

Factory overhead = $350,000

Selling and admin = $140,000

Total fixed costs = $490,000

I) Total costs = variable plus fixed costs = $2,890,000 ($2,400,000 + 490,000)

II) Total cost per unit = $289 ($2,890,000/10,000)

Explanation:

The total cost method includes all the costs in arriving at the unit cost before adding the desired profit to arrive at the selling price of a product.

Total costs include the cost of goods sold and the expenses incurred in running the business for the period.

It is unlike the product cost-plus and variable cost-plus approaches to product pricing.  For the product cost-plus approach, only the costs of production is taken into consideration for arriving at the selling price.  In that case, the costs of direct materials and labor, and factory overheads would be considered, while variable and fixed selling and administrative costs are excluded.   The unit cost would have been $250.

The variable cost-plus approach considers only the variable elements of costs to arrive at the selling price.  These include the direct materials and labor costs, and variable element of the factory overhead and selling and administrative expenses.  The unit cost would have been $240 as stated in the question.

These different cost-plus pricing approaches are more suitable for some industries than others.  No matter the choice made, it must be noted that they result in different selling prices and can affect the competitiveness of a company.

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