Answer:
Delph Company
a) Plantwide predetermined overhead rate = $17.68
b) The total manufacturing cost assigned to:
Job D-70 Job C-200
Direct materials cost $ 699,000 $ 500,000
Direct labor cost 400,000 340,000
Manufacturing overhead 720,789 582,811
Total manufacturing cost $ 1,819,789 $ 1,422,811
c) Bid Prices:
Job D-70 Job C-200
150% of total manufacturing cost $2,729,683.50 $2,134,216.50
d) Cost of goods sold:
Job D-70 $ 1,819,789
Job C-200 $ 1,422,811
Total $3,242,600
Explanation:
a) Data and Calculations:
Molding Fabrication Total
Machine-hours 23,000 33,000 56,000
Fixed manufacturing overhead costs $790,000 $200,000 $990,000
Variable overhead cost per machine-hour $5.60 $5.60
Molding Fabrication Total
Job D-70
Direct materials cost $ 371,000 $ 328,000 $ 699,000
Direct labor cost $ 240,000 $ 160,000 $ 400,000
Machine-hours 16,000 7,000 23,000
Job C-200
Direct materials cost $ 290,000 $ 210,000 $ 500,000
Direct labor cost $ 100,000 $ 240,000 $ 340,000
Machine-hours 7,000 26,000 33,000
Plantwide predetermined overhead rate based on machine-hours:
= $990,000/56,000
= $17.68
Manufacturing overhead costs:
Molding Fabrication Total
Fixed manufacturing overhead costs $790,000 $200,000 $990,000
Variable manufacturing overhead 128,800 184,800 313,600
Total manufacturing overhead costs $918,800 $384,800 $1,303,600
Overhead rate
Molding = $39.9478 ($918,800/23,000)
Fabrication = $11.6606 ($384,800/33,000)
Assignment of manufacturing overhead:
Job D-70 Job C-200
Molding $639,165 $279,635
Fabrication 81,624 303,176
Total $720,789 $582,811
On Sep 18, Mesa returned $800 of the inventory. On Sep 20, Mesa paid Butte for the inventory. What journal entry did Mesa make on Sep 20
Answer:
Decrease the trade payables by a debit entry with the amount paid after the return is made. Also decrease the assets of cash by creating a credit entry to depict outflow of economic benefits.
Explanation:
Hi, your question is incomplete, i tried looking for the question online but i could not find it.
Here i will explain the journal entries that are usually made when there is a Purchase, Return and Payment of Inventory assuming the view of the customer or trade receivable.
1. Purchase
Here we have to increase the value of inventory by creating a debit entry and also increase the value of trade payable by creating a credit entry.
2. Return
The value of trade payables has to be decreased to the extent of the amount that would have been paid if the inventory was not returned. Also the inventory value has to decrease with the same amount as for the trade payable.
3. Payment
Decrease the trade payables by a debit entry with the amount paid the after return is made. Also decrease the assets of cash by creating a credit entry to depict outflow of economic benefits.
Which financial statement would include a listing of a companies assets
Answer:
Balance Sheet
Explanation:
In accounting, Balance sheet will show a complete listing of assets, liabilities and Equity of a company within a specific time period. (For most companies, the balance sheet will be made at each end of the year)
under the Assets segment, Balance sheet will specify several accounts arranged based on their liquidity. Cash usually put at the top of the list since it's considered as the most liquid assets.
People use balance sheet to give a general measurement on Company's financial health. If for example, they noticed that the liability is significantly larger than their assets, investors might feel discourage to invest in the company.
The economy is part of that influences all organizations
PATTYCAKE PATTYCAKE PASTAMAN, GIMME PASTA POWER AS FAST AS U CAN
Answer:
Roll it, put in the oven for me and you
Explanation:
Suppose the demand function for good X is given by: Q_dx = 15-0 5P_x - 0.8 P y where Q_dx is the quantity demanded of good X, P_x is the price of good X, and P_y is the price of good Y, which is related to good X. a. Using the midpoint method, if the price of good Y is $10 and the price of good X decreases from $5 to $3, what is the price elasticity of demand for good X? Is the demand elastic, unitary elastic, or inelastic? b. Good X and Good Y are related as c. Using the midpoint method, if the price of good X is $10 and the price of good increases from $8 to $10, the cross price elasticity of demand is about
Answer:
a. Price elasticity of demand for good X is -0.80; and the demand is inelastic.
b. Good X and Good Y are related as complements.
c. The cross price elasticity of demand is about -2.57%.
Explanation:
Note: There is an error in the demand function for good X. This is therefore corrected by restating the function as follows:
Q_dx = 15 - 0.5P_x - 0.8 P_y …………………………… (1)
a. Using the midpoint method, if the price of good Y is $10 and the price of good X decreases from $5 to $3, what is the price elasticity of demand for good X? Is the demand elastic, unitary elastic, or inelastic?
From the question and equation (1), we have:
Old price of good X = Old P_x = $5
New price of good X = New P_x = $3
New quantity demanded of good X = New Q_dx = 15 - (0.5 * 3) - (0.8 * 10) = 5.50
Old quantity demanded of good X = New Q_dx = 15 - (0.5 * 5) - (0.8 * 10) = 4.50
Ordinarily, the formula for calculating the price elasticity of demand is as follows:
Price elasticity of demand = Percentage change in quantity demanded of good X / Percentage change in price of good X ................ (1)
Where, based on the midpoint formula, we have:
Percentage change in quantity demanded of good X = {(New quantity demanded of good X - Old
quantity demanded of good X) / [(New quantity demanded of good X + Old quantity demanded of good X) / 2]} * 100 = {(5.50 - 4.50) / [(5.50 + 4.50) / 2]} * 100 = 20%
Percentage change in price = {(New price of good X - Old price of good X) / [(New price of good X + Old Price of good X) / 2]} * 100 = {(3 - 5) / [(3 + 5) / 2]} * 100 = -25%
Substituting the values into equation (1), we have:
Price elasticity of demand for good X = 20% / -25% = -0.80
Therefore, the price elasticity of demand (based on the midpoint formula) when price decreases from $5 to $3 is -0.80.
Since the absolute value of the price elasticity of demand for good X i.e. |-0.80| is less than one, the demand is inelastic.
b. Good X and Good Y are related as
From equation (1) above, the coefficient P_Y is -0.80 which shows that it has a negative sign.
The negative sign indicates Good X and Good Y are related as complements. This implies that as price of Good Y falls, the quantity demand of Good X increases.
c. Using the midpoint method, if the price of good X is $10 and the price of good Y increases from $8 to $10, the cross price elasticity of demand is about
From the question and equation (1), we have:
Old price of good Y = Old P_y = $8
New price of good Y = New P_y = $10
New quantity demanded of good X = New Q_dx = 15 - (0.5 * 10) - (0.8 * 10) = 2
Old quantity demanded of good X = New Q_dx = 15 - (0.5 * 10) - (0.8 * 8) = 3.60
Ordinarily, the formula for calculating the cross price elasticity of demand is as follows:
Cross price elasticity of demand of goods X and Y = Percentage change in quantity demanded of good X / Percentage change in price of good Y ................ (2)
Where, based on the midpoint formula, we have:
Percentage change in quantity demanded of good X = {(New quantity demanded of good X - Old
quantity demanded of good X) / [(New quantity demanded of good X + Old quantity demanded of good X) / 2]} * 100 = {(2 - 3.60) / [(2 + 3.60) / 2]} * 100 = -57.1428571428572
Percentage change in price of good Y = {(New price of good Y - Old price of good Y) / [(New price of good Y + Old Price of good Y) / 2]} * 100 = {(10 - 8) / [(10 + 8) / 2]} * 100 = 22.2222222222222
Substituting the values into equation (2), we have:
Cross price elasticity of demand of good X and Y = -57.1428571428572 / 22.2222222222222 = -2.57142857142857
Rounding to 2 decimal places, we have:
Cross price elasticity of demand of good X and Y = -2.57
Therefore, the cross price elasticity of demand is about -2.57%.
Note: This confirms that the relationship between Good X and Good Y is complement because the cross-price elasticity between them is negative. That is, an increase in the price of Good Y makes consumer to buy less of Good X which is a complement.
Sheridan Company receives a $14000, 3-month, 8% promissory note from Carla Vista Company in settlement of an open accounts receivable. What entry will Sheridan Company make upon receiving the note?
Answer and Explanation:
The journal entry to record while receiving the note is shown below:
Notes receivable Dr. $14,000
To Accounts receivable $14,000
(Being receiving of the note is recorded)
Here the note receivable is debited as it increased the assets and credited the account receivable as it decreased the assets
The same is to be considered
Professional Properties is considering remodeling the office building it leases to Heartland Insurance. The remodeling costs are estimated at $3.4 million. If the building is remodeled, Heartland Insurance has agreed to pay an additional $820,000 a year in rent for the next 5 years. The discount rate is 15 percent. What is the benefit of the remodeling project to Professional Properties? A) -$651,233 B) -$489,072 C) $5,214 D) $128,399 E) $311,417
Answer:
A) -$651,233
Explanation:
The computation of the benefit generated of the remodelling project is shown below:
If we considered the discounted rate i.e. 15% for 5 years of $820,000 so its present value would be $2,748,767 ($820,000 × 3.3521)
And, the predicted cost is $3,400,000
So here the cost is there instead of the benefit of
= $2,748,767 - $3,400,000
= -$651,233
Hence, the correct option is A
A car's price is currently $20,000 and is expected to rise by 4% a year. If the interest rate is 6%, how much do you need to put aside today to buy the car one year from now
Answer:
the amount need to put aside is $19,623
Explanation:
The computation of the amount need to put aside is shown below;
= (Current car price × (1 + expected rise percentage)) ÷ (1 + rate of interest)
= ($20,000 × 1.04) ÷ 1.06
= $19,623
hence, the amount need to put aside is $19,623
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Northwest Lumber had a profit margin of 5.25%, a total assets turnover of 1.5, and an equity multiplier of 1.8.
What was the firm's ROE?
a. 12.79%
b. 13.47%
c. 14.18%
d. 14.88%
e. 15.63%
Answer:
ROE = 0.14175 or 14.175%
Explanation:
The DuPont equation to calculate ROE or return on equity breaks the ROE into three components namely Net Income or Net Profit margin, Total assets turnover and equity multiplier. This is used to see what factor are affecting the Return on Equity generated by the business. ROE under DuPont can be calculated as follows,
ROE = NI Margin * Total Assets Turnover * Equity Multiplier
ROE = 0.0525 * 1.5 * 1.8
ROE = 0.14175 or 14.175%
Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in units) are planned for next year. *Three pounds of raw material are needed to produce each unit of finished product. If Paradise Corporation plans to sell 545,000 units during next year, the number of units it would have to manufacture during the year would be:________
a) 492,000 units
b) 545,000 units
c) 575,000 units
d) 515,000 units
Answer: d. 515,000 units
Explanation:
If they plan to sell 545,000 units then given those beginning and ending balances of finished goods, they will have to manufacture;
= Sales + Ending balance - Beginning balance
= 545,000 + 63,000 - 93,000
= 515,000 units
On the variable costing income statement, the figure representing the difference between manufacturing margin and contribution margin is the: a.variable cost of goods sold b.fixed manufacturing costs c.variable selling and administrative expenses d.fixed selling and administrative expenses
Answer:
c. variable selling and administrative expenses
Explanation:
On the variable costing income statement, the figure representing the difference between manufacturing margin and contribution margin is the variable selling and administrative expenses. Variable cost is comprised of cost of goods sold and selling and administrative expense when we deduct cost of goods sold from sales we get manufacturing margin and when we deduct further selling and administrative expense we get contribution margin.
According to the rational-actor model, as the benefits of an activity rise a. we should observe fewer people undertaking the activity, because when benefits rise, costs usually rise by more. b. we should observe more people undertaking the activity. c. it is hard to predict how people will react, because some people are often irrational. d. the costs will rise too. e. none of the above
Answer: b.we should observe more people undertaking the activity
Explanation:
The rational actor model follows the theory of rational choice which believes that the behavior of individual actors make up the social behavior on the society and that the individual actors are all making their own individual decisions.
It should be noted that when there's an increase in the benefits of an activity, this will lead to more people enjoying the benefit as there will be more players.
Therefore, the correct option is B
Macroeconomic is the branch of economics that focuses on ?
Answer:
economic principles affecting entire countries
Explanation:
Which component of owners’ equity does the situation below indicate? Owners’ equity includes , ______ which is the amount of profits that your business has been able to save over the past few years.
Answer:
Retained earning
Explanation:
A company's profits are distributed to shareholders as dividends, retained in the business for reinvestment, or both. Therefore, retained earning are profits that were not distributed to shareholders. They are funds that belong to owners but withheld for use in the business.
Retained earnings form part of a company's capital. It is money that shareholders have contributed to the business by not sharing in profits.
Many firms offer substantial rebates by mail or coupons for discounts at the point of sale. The people who use the rebates or coupons have ______ than the people who don't use them.
a. greater price sensitivity.
b. less price sensitivity.
c. inverted price sensitivity.
d. the same price sensitivity.
Answer:
a. greater price sensitivity.
Explanation:
Price sensitivity can be defined as a measure of the degree to which the selling price of a product affects the purchasing behavior of a customer.
This ultimately implies that, a price sensitive customer is impacted negatively by the price of a product and as such would be stuck between making the decision of whether to buy or not buy the product.
Hence, when customers are paying the bill themselves, they are likely to be more price sensitive because they are solely responsible for the payment. Therefore, it's an innate nature of human to be less sensitive to the price of goods and services when it's another person paying for them or say when sharing the cost.
In this scenario, many firms offer substantial rebates by mail or coupons for discounts at the point of sale. Thus, the people who use the rebates or coupons have greater price sensitivity than the people who don't use them.
Which approach is a positive way to deal with conflicts?
Answer:
trying to evaluate the situation from all diff perspectives
Crane Corporation had net income of $2040000 and paid dividends to common stockholders of $303000 in 2017. The weighted average number of shares outstanding in 2017 was 510000 shares. Crane Corporation's common stock is selling for $36 per share on the NASDAQ. Crane Corporation's price-earnings ratio is
Answer:
9 times
Explanation:
The computation of price earning ratio is as seen below;
Earning per share = Net income ÷ Weighted average outstanding shares
= $2,040,000 ÷ 510,000
= 4
Price earning per share = Market price per share ÷ Earning per share
= $36 ÷ 4
= 9 times
Therefore, Crane Corporation's price earning ratio is 9 times
To use an outline for writing a formal business document, what should you do after entering your bottom-line statement? O A. Move the bottom-line statement to the end of the document. OB. Write a topic sentence for every detail. O C. Enter each supporting detail from the outline on a separate line. O D. Enter each major point from the outline on a separate line.
Answer:
enter each major point from the outline on a separate line
Explanation:
Kk
Answer:
D : Enter Each Major Point From The Outline On a Separate Line
Explanation:
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ix company issued 16,000 shares of $10 par value common stock at a market price of $21. as a result of this accounting event, the amount of stockholders equity would
Answer:
increase by $336,000.
Explanation:
Options are "1. increase by $176,000. 2. increase by $336,000. 3. increase by $160,000. 4. be unaffected."
Common stock will increase by $160,000, the par value, and paid-in capital in excess of par value will increase by $176,000, for a total increase in stockholders' equity of $336,000.
05. In identifying risks to then manage and control, as the portfolio
manager you are consulting organizational process assets such as:
Alex withdrew $500,000 from an account that paid 5 percent annual interest and used the funds to purchase real estate. After one year he sold the property for $550,000. Alex's economic profit on this deal was:__________
a) 25,000
b) Not enough information provided.
c) 50,000
d) 500,000
e) 120,000
Answer:
a) 25,000
Explanation:
The computation of the economic profit is shown below;
Economic profit is
= Revenue - Explicit cost - Implicit cost
= $550,000 - $500,000 - $500,000 × 5%
= $550,000 - $500,000 - $25000
= $25,000
Hence, the economic profit on this deal was $25,000
Therefore the correct option is a.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Assuming a 360-day year, when a $49,200, 90-day, 6% interest-bearing note payable matures, the total payment will be ______ .
Round your answer to the nearest whole dollar.
a. $2,952
b. $49,938
c. $52,152
d. $49,200
Answer:
b. $49,938
Explanation:
The computation of the total payment is shown below:
Total payment is
= Principal + interest amount
where,
The Principal is $49,200
And, the interest is
= $49200 × 6% × 90 days ÷ 360 days
= $738
Now
Total payment is
= $49,200 + $738
= $49,938
hence, the correct option is b. $49,938
The same is to be considered
3. Colloids are used in food preparations like in baking
pastries and cakes.yes or no
How should wildlife species like grouse or deer be valued, and how should that value be balanced against the economic interests of a company like Questar? What, if anything, should Questar be doing differently?
Answer:
The description is summarized in the clarification section below, according to the particular circumstance.
Explanation:
Mostly with rising economic company's best interest including Questar, maintaining wildlife species including grouse as well as deer protected has become much more important. It is not only just the economic gain but also the ecological advantage that would not affect wildlife animals. Preserving the natural environment seems to be the most fundamental way of evaluating animal habitats. The same as deer, animal species should be covered in their habitat. It may also become extinct by upsetting them. The ecosystem is, thus, an important one that should have been taken note that to value certain native wildlife. But because service providers like Questar, who are rocky mountain oil producers, have quite a several financial advantages by exploration in that field, however, this contributes to mining, etc. in something like a wide coverage of the region which destroyed the habitat.Companies should preserve the balance, such as invading the field which is far less occupied by endangered species, reexhibiting certain organisms to a safer location, or putting the region back into the very same old role.So quester should do these things completely differently, to protect the ecological balance.
AJAX Inc. has subsidiaries in Vietnam, Bangladesh, and China. AJAX pays an annual insurance premium to OPIC (the Overseas Private Investment Corporation). AJAX is probably protecting itself from _____.
a. natural disasters overseas.
b. financial instability.
c. unfair competition.
d. nationalization.
Answer:
The correct answer is the option B: Financial instability.
Explanation:
To begin with, the "Overseas Private Investment Corporation" or OPIC was the name given to a financial institution of the United States Government who main purpose was to help solve problems according to financial matters of companies who were going abroad to establish work and capital. Therefore that this institution was created with the objective of impulsing the United States' foreign policies. That is why that if AJAX pays an annual insurance premium to OPIC is because its trying to protect itself from financial instability that could bring the fact of going overseas to work, which in case that happens the OPIC will help them to resolve that situation
Describe the key elements of IKEA’s globally successful business model. What are the sources of IKEA’s competi-tive advantage?
Answer:
following are the solution to this question:
Explanation:
The key factors for IKEA's growth are as follows:
It made simple to use goods as well as the technique of "do it yourself" allows employees to increase costs lower, prices fair, a good understanding of the population it wants to target, goods clean with a clear aesthetics.
These were also regarded for fair payer money for staff and vendors, as well as the mechanism is open. Its shops also provide accommodation for the whole family.
A manufacturing company incurs direct materials costs of $6 per unit. The total direct materials cost is______when the company manufactures 2,000 units.
Answer:
$12,000
Explanation:
The manufacturing company has a direct materials cost of $6
The company manufactures 2,000 unit
Therefore total direct material cost can be calculated as follows
= 2,000×6
= $12,000
Hence the total direct material cost of $12,000
Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $37,500; net cash used in investing activities was $13,800 and net cash used in financing activities was $17,700. If the beginning cash balance is $6,900, what is the ending cash balance?
a) $75,900.
b) $62,100.
c) $40,500.
d) $6,000.
$12,900.
Answer:
e. $12,900
Explanation:
Given that:
Net Cash provided by operating activities = $37,500
Net Cash used in investing activities = $13,800
Net Cash used in financing activities = $17,700
Beginning cash balance = $6,900
Stormer company's ending balance would be;
= Beginning cash balance + Net cash provided by operating activities - Net cash used in financing activities - Net cash used in investing activities
= $6,900 + $37,500 - $17,700 - $13,800
= $12,900
A user access agreement typically is __________ than the list of employee expected behaviors within an organization.
Answer:
Narrower
Explanation:
To make sure that all employees that work in an organization know all their responsibilities, that is ethical and legal. They are required to review and to also accept the terms that has been stated in the user access agreement form.
So for this question, the user access agreement is narrower than the list of employees expected behavior in an organization.
Based on the following information, calculate the cost of goods sold and ending inventory using FIFO, LIFO, and weighted average assuming a perpetual inventory system is in place.
Beginning Balance - 90 units at $11
March 3 - Purchase 300 units for $15
April 4 - Sell 240 units for $28
June 30 - Purchase 250 units for $18
August 16 - Sell 180 units for $30
Answer:
Cost of Sales :
FIFO = $ 6,030
LIFO = $6,840
Weighted Average = $6,354.60
Ending Inventory :
FIFO = $4,176
LIFO = $3,150
Weighted Average = $3,636.60
Explanation:
FIFO
This method assumes that the first inventory purchased will be the first to be sold
Cost of Goods Sold :
90 units × $11 = $990
150 units × $15 = $2,250
150 units × $15 = $2,250
30 units × $18 = $540
Total = $ 6,030
Ending Inventory :
232 units × $18 = $4,176
LIFO
This method assumes that the last inventory purchased, will be the last to be sold
Cost of Sales :
240 units × $15 = $3,600
180 units × $18 = $3,240
Total = $6,840
Ending Inventory :
90 units × $11 = $ 990
60 units × $15 = $ 900
70 units × $18 = $ 1,260
Total = $3,150
Weighted Average
A new average cost per unit is calculated with every purchase made.
New Average Cost = (90 units × $11 + 300 units × $15) ÷ 390 units
= $14.08
Cost of Sale , April 4 = 240 units × $14.08
= $3,379.20
New Average Cost = (150 units × $14.08 + 250 units × $18.00) ÷ 400 units
= $16.53
Cost of Sale, Aug 16 = 180 units × $16.53
= $2,975.40
Total Cost of Sales = $3,379.20 + $2,975.40
= $6,354.60
Ending Inventory = 220 units × $16.53
= $3,636.60
