Answer and Explanation:
The journal entry is given below:
Factory Overhead $17,350
Materials $11,600
Wages Payable $3,700
Utilities payable $500
Accumulated Depreciation $600
Small tools $230
Equipment Rental payable $720
(To record the factory overhead incurred during April)
Here the factory overhead is debited as it increased the expense and credited the payable accounts as it increased the liabilities, credited the material, accumulated depreciation and small tools
The Chandler Group wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking up". As a result, the cemetery project will provide a net cash inflow of $57,000 for the firm during the first year, and the cash flows are projected to grow at a rate of 7 percent per year forever. The project requires an initial investment of $759,000. The firm requires a 14 percent return on such undertakings. The company is somewhat unsure about the assumption of a 7 percent growth rate in its cash flows. At what constant rate of growth would the company just break even?
Answer: 6.49%
Explanation:
The constant rate of growth where the company would break even will be calculated thus:
Initial investment = Net cash inflow / (14% - g)
759000 = 57,000/(0.14 - g)
where g = growth rate
759000 = 57,000/(0.14 - g)
Cross multiply
759000(0.14 - g) = 57000
106260 - 759000g = 57000
759000g = 106260 - 57000
759000g = 49260
g = 49260/759000.
g = 0.0649
g = 6.49%
The growth rate that would lead the business to breakeven is 6.49%.
At breakeven, the growth rate would lead to the cash inflows from the project being just enough to pay back the initial investment put into the catering business.
This growth rate is calculated by the formula:
Growth rate = ( (Investment * return rate) * - First cash inflow) / Investment
= ( (759,000 * 14%) - 57,000) / 759,000
= 6.49%
The growth rate that would lead the business to breakeven is therefore 6.49%.
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Many experts believe that marketing is the most important function in a company. Discuss the reasons this is a true statement. Discuss the reasons this is not a true statement.
Solution :
Marketing is considered as an important function in a company.
Marketing is an important function in any organization as it allows the business to maintain a long-lasting and an ever-present relationships with the audience. It increase the brand value and generates revenue for the organization.
Marketing is not considered as an important function in a company.
Besides marketing there are other function as well which are important for an organization. The human resource department is an important function which maintains the relationship between the employees and the management. It works for the welfare of its employees which is considered as asset to the organization.
Also attention should be given to manufacture a good product seeing the demand in the market that can be easily available and usable by the customer. More research should be done to develop a product that is best for its consumers.
Given the following information, determine the amount of cash on the balance sheet, assuming that the company has only three assets.
Liabilities equal $3,350
Owner's equity equals $28,000
Supplies equal $2,000
Land equals $23,500
Answer:
Cash balance = $5850
Explanation:
Below is the given values and calculations:
Liabilities = $3350
Equity = $28000
Supplies = 2000
Land = $23500
Cash on the balance sheet can be determined by subtracting the sum of supplies and land from the sum of liability and equity.
Cash balance = (28000 + 3350) - (2000 + 23500)
Cash balance = $5850
3. Which of the following is NOT a factor of production?
a. land
d. entrepreneurship
b. output
e. capital
c. inputs
Answer:
Output.
Explanation:
because it is an effect of production but not a factor.
Hailey Corporation pays a constant $9.45 dividend on its stock. The company will maintain this dividend for the next 13 years and will then cease paying dividends forever. If the required return on this stock is 10.7 percent, what is the current share price?
Answer:
$64.76
Explanation:
The current share price can be determined by calculating the present value of the dividend
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow from year 1 to 13 = 9.45
I = 10.7
PV = 64.76
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Classify the following markets as perfectly competitive, monopolistic, or monopolistically competitive, and explain your answers.
a. wooden no. 2 pencils
b. copper
c. local telephone service
d. peanut butter
e. lipstick
Single Plantwide Factory Overhead Rate Kennedy Appliance Inc.’s Machining Department incurred $159,500 of factory overhead cost in producing hoses and valves. The two products consumed a total of 5,500 direct machine hours. Of that amount, hoses consumed 2,800 direct machine hours. Determine the total amount of factory overhead that should be allocated to hoses using machine hours as the allocation base. $fill in the blank 1
Answer:
the total amount of factory overhead that should be allocated to hoses using machine hours is $81,200
Explanation:
The calculation of the total amount of factory overhead that should be allocated to hoses using machine hours is given below:
= $159,500 × 2,800 ÷ 5,500
= $81,200
Hence, the total amount of factory overhead that should be allocated to hoses using machine hours is $81,200
the same is relevant
Liquidity is _________. Question 10 options: equal to the market value of a firm's total assets minus its total liabilities generally most associated with intangible assets a measure of the use of debt in a firm's capital structure valuable to a firm even though liquid assets tend to be less profitable to own equal to current assets minus current liabilities
Answer:
valuable to a firm even though liquid assets tend to be less profitable to own
Explanation:
Frank is a 60- year-old man who is well-loved in his community since he was a boy. He is someone who is outgoing, a party lover, and love to have fun hanging out with peers. Frank is confident about life. From an early age he knew exactly what he wanted to become, and now as a man, he is confident about his career and family and want to leave them a good life when he departs this life. Frank express that he is not afraid of dying but he wants them to be ok when he is gone.
At work Frank is helpful to his colleagues, and even in his community he is well-known among the elderly since he is always putting on Christmas treats for them.
Imagine that Frank is your colleague, and that your boss asks you to write a character reference for Frank. Using Jung’s personality theory to guide your writing, present a minimum one- page character reference in which you spell out Franks behaviour, his outlook on life, his philosophy about people and all the other important things you know about him. Ensure you point out how these different parts of Franks life fits into Jung’s theory and overall what Jung’s theoretical concept says about him.
Answer:
I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.
Explanation:
I had a friend named Frank. He is a good friend of mine.I know him for more than 40 years. He has been with me in all my struggles and my happiness.I am very lucky to have a friend like him. He is not only a good friend of mine he is a good human being.He is friendly and kind to all the people.He is a well behaved person and respectful for everyone he meet.From his childhood he has a burning desire to achieve in life.He studies well and gives 100% in whatever he do.He works passionate in whatever he does.I got all my confidence from him.He had supported my in all my studies and also motivated me to achieve in my life.He got a good family and supported his family and gave them the best as he can.Even after his death he made everything ready for his family so that they will not suffer from his loss.I have never met such a person in my life.I am very ,much thankful for them and really it is a nice platform for me to thank him and i am very happy to write about him.
Suppose you pay $50 to enter into a raffle with $1,000 prize. If you have a 3% chance of winning comma the expected value of your ticket is________.
Answer:
$-20
Explanation:
Calculation to determine the expected value of your ticket
Using this formula
Expected Value =∑ payoff *Probability
Let plug in the formula
Expected value of ticket =950 ∗.03+(−50) ∗(100%-3%)
Expected value of ticket =950 ∗.03+(−50) ∗.97
Expected value of ticket=−20.
Therefore the expected value of your ticket is $-20
The expected value of your ticket is -$20.
What is the expected value?The expected value is the summation of the multiplication of some random values with their probabilities of occurring.
The expected value estimates the chance that a favorable outcome will result.
Note that the cost of entering the raffle must be incurred whether the prize is won or not.
Data and Calculations:Cost for raffle = $50
Prize for raffle = $1,000
Probability of winning = 3%
Probability of losing = 97% (100% - 3%)
Expected value of winning = -$20 ($1,000 x 3% -$50)
Thus, the expected value of your ticket is -$20.
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Carmichael Inc. has a beginning balance in Accounts Receivable of $100,000 at June 1. On June 24, Carmichael sells $20,000 of merchandise to K. Low, terms 2/10, n/30. Assuming just this one transaction occurred, what is the ending balance in Accounts Receivable at June 30 under the gross method
Answer:
$120,000
Explanation:
Particulars Amount
Beginning balance in accounts receivables A/C $100,000
Add: Credit sales $20,000
Ending balance in accounts receivables A/C $120,000
Georgetown Retail Outlet provided the following financial information: Accounts Receivable balance as of 1/1/2017 $110,000 Accounts Receivable balance as of 12/31/2017 $120,000 Net Credit Sales for the year 2017 $839,500 Cost of Goods Sold for the year 2017 $486,910 Calculate Accounts Receivable Turnover.a. 7.30 days.b. 344.83 days.c. 01.06 days.d. 50.00 days.
Answer: 7.3 times
Explanation:
The Accounts Receivable Turnover Ratio is an activity ratio that shows how well a company collects the debts owed to it as well as how well it gives out credit.
It is calculated by the formula:
= Net Credit sales / Average Accounts Receivable
= 839,500 / ( (110,000 + 120,000) / 2)
= 839,500 / 115,000
= 7.3 times
Expected Return American Eagle Outfitters (AEO) recently paid a $.42 dividend. The dividend is expected to grow at a 15.90 percent rate. At the current stock price of $24.47, what is the return shareholders are expecting?
Answer:
17.89%
Explanation:
according to the constant dividend growth model
price = d1 / (r - g)
d1 = next dividend to be paid
r = cost of equity
g = growth rate
24.47 = (0.42 x 1.1590) / (r - 0.1590)
24.47 x (r - 0.1590) = 0.487
(r - 0.1590) =0.01989
r = 0.1789 = 17.89%
Express net income as a common-size percentage using the following data.
Sales $45,000
Cost of goods sold $29,340
Gross profit from sales $15,660
Operating expenses $10,800
Net income $4,860.
a. 100 percent
b. 31 percent
c. 12 percent
d. 10.8 percent
Answer:
i think the answers D 10.8 percent
A company has total revenue of $50,000,000, cost of sales of $40,000,000, operating expenses of $5,000,000, and financing costs of $2,000,000. What are earnings per share if the company has 100,000 shares outstanding and no preferred stockholders
Answer:
$30
Explanation:
Earnings per share = earnings / total outstanding shares
Earnings = total revenue - total cost
total cost = $40,000,000 + $5,000,000 + $2,000,000 = $47,000,000
Earnings = $50,000,000 - $47,000,000 = $3,000,000
Earnings per share = $3,000,000 / 100,000 = $30
roject A costs $6,000 and will generate annual after-tax net cash inflows of $2,150 for five years. What is the payback period for this investment under the assumption that the cash inflows occur evenly throughout the year
Answer:
It will take 2.79 years to cover the initial investment.
Explanation:
Giving the following information:
Project A costs $6,000 and will generate annual after-tax net cash inflows of $2,150 for five years.
The payback period is the time required to cover the initial investment:
Year 1= 2,150 - 6,000= -3,850
Year 2= 2,150 - 3,850= -1,700
Year 3= 2,150 - 1,700= 450
To be more accurate:
(1700/2150)= 0.79
It will take 2.79 years to cover the initial investment.
When purchases of merchandise are made on account with a perpetual inventory system, the transaction is recorded with which entry
Answer:
debit Merchandise Inventory, credit Accounts Payable.
Explanation:
In the case when the merchandise is purchased on account, so the following journal entry is recorded
Merchandise inventory Dr XXXXX
To account payable XXXXX
(Being merchandise inventory purchased on account)
Here merchandise inventory is debited as it increased the assets and credited the account payable as it also increased the liabilities
A refiner produces heating fuel and gasoline from crude oil in virtually fixed proportions. What can you say about economies of scope for such a firm? What is the sign of its measure of economies of scope, SC?
Answer:
The cost benefits of simultaneous manufacturing do not exist and there are thus no economies as well as range disadvantages. A further explanation is provided below.
Explanation:
Scope savings are environmental impacts if a variety of commodities are produced collectively when producing these commodities collaboratively is far less costly than individually.Throughout this case, the manufacturer can create two items from the main resource although manufacturing takes place in some kind of a set proportion. Therefore includes the amount of production is identical to the expenditure of combined production of the products.Thus the above is the appropriate solution.
Arya has a homeowner’s policy that covers up to $400,000. Her house is completely destroyed in a fire. When an assessment is made of the house and possessions, it is decided that her losses are only worth about $350,000. How much money will Arya receive from her insurer (assuming there is no deductible)? A. $50,000 B. $200,000 C. $350,000 D. $400,000
Answer:
C: 350,000$
Explanation:
If there is no deductible then the insurance would pay the damges. Damages were 350,00$
Job candidates are leaving an office every 50 minutes. Each candidate goes through three activities during the office visit: verification, written test, and interview. Verification takes 1 minute, the written test takes 40 minutes, and the interview takes 10 minutes. Assume there is only one resource dedicated to each activity. What is the utilization of the bottleneck resource?
Answer:
80%
Explanation:
Calculation to determine the utilization of the bottleneck resource
First step is to calculate the Flow rate
Flow rate = 1/50
Flow rate = 0.02 customer per minute.
Second step is to calculate the Bottleneck capacity
Bottleneck capacity = Min(1, 1/40, 1/10)
Bottleneck capacity= 0.025 customer per minute.
Now let determine the Utilization of the bottleneck resource using this formula
Utilization of the bottleneck resource = Flow rate/Capacity
Let plug in the formula
Utilization of the bottleneck resource= 0.02/0.025
Utilization of the bottleneck resource= 80%.
Therefore the utilization of the bottleneck resource is 80%
Define Total Quality Management (TQM) and Lean Production.
Total Quality Management (TQM) is an on-going improvement management plan. Furthermore, TQM ensures that equipment is properly maintained and a recent type, and workers are well-trained. However, most companies who use Total Quality management also utilize other lean processes, not just TQM.
what does it mean to be "in the red"
Answer:
The expression "in the red" is used to describe a business that has negative earnings. This is in contrast to the phrase "in the black" which refers to businesses that are profitable and financially solvent. ... Before the use of computers, accountants recorded income in black ink and expenses in red ink.Explanation:
I hope it helped❤hey buddy can u do a favor to mehey buddy can u do a favor to meif u don't mind ......plz subscribe to my UTube channel - gtron9528Escareno Corporation has provided its contribution format income statement for June. The company produces and sells a single product.
Sales (8,400 units) $ 764,400
Variable expenses 445,200
Contribution margin 319,200
Fixed expenses 250,900
Net operating income $68,300
If the company sells 8,200 units, its total contribution margin should be closest to:________.
a. $301,000
b. $311,600
c. $319,200
d. $66,674
Answer:
b. $311,600
Explanation:
Calculation to determine what total contribution margin should be closest to:
Using this formula
Contribution margin per unit=Current contribution margin ÷ Current sales in units
Where,
Contribution margin per unit
=$319,200 ÷ 8,400
Contribution margin per unit= $38
Now let determine the total contribution margin
Total contribution margin= 8,200 × $38
Total contribution margin=$311,600
Therefore total contribution margin should be closest to:$311,600
Which 3 statements about the Client request functionality are correct? Selecting Create client request on the Work screen begins the process Checking the Notify client checkbox means the client will be sent an email You can't add attachments to a client request You can request documents from a non-QuickBooks Online client To update the status of a client request, select the request and then the Status drop-down
Answer: • Selecting Create client request on the Work screen begins the process.
• Checking the Notify client checkbox means the client will be sent an email.
• To update the status of a client request, select the request and then the Status drop-down.
Explanation:
QuickBooks refers to an online accounting software that's utilized by several businesses and can be used in the request of information from ones clients.
From the options given, the statements about the client request functionality which are correct include:
• Selecting Create client request on the Work screen begins the process.
• Checking the Notify client checkbox means the client will be sent an email.
• To update the status of a client request, select the request and then the Status drop-down.
40. Giả sử tỷ giá giao ngay của EUR là 0.9 USD/EUR . Tỷ giá giao ngay dự kiến một năm sau là 0.85 USD/EUR, % thay đổi của tỷ giá giao ngay là :
Answer:
Sorry I can't understand
According to your reading material, one cause of excessive pressure is a/an __________.
a. overestimation of the severity of one’s own problems
b. lack of sleep
c. lack of self-confidence
d. lack of self-esteem
Answer: D
Explanation: A lack of self-esteem can lead to reliance others advice which can also lead to excessive pressure by the people your getting advice from.
Bluebean Inc. produces two lines of coffee cups: espresso coffee cups and travel coffee mugs. The unit cost information is shown here. The company uses a traditional volume-based costing system and believes that the number of labor hours is the appropriate cost driver
Activity Cost Pool Espresso Coffee Cups Travel Coffee Mugs
Selling price $20 $25
Direct materials $6 $8
Direct labor $2 $5
Units produced 10,000 units 4,000 units
Direct labor hours 10,000 hours 6,000 hours
Estimated total overhead costs $80,000
Item Espresso coffee cups Travel coffee mugs
Pre-determined overhead rate
Total manufacturing overhead allocated
Manufacturing cost per unit
Gross profit unit
Answer:
Results are below.
Explanation:
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 80,000 / (10,000 + 6,000)
Predetermined manufacturing overhead rate= $5 per direct labor hour
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Espresso coffee cups= 5*10,000= 50,000
Travel coffee mugs= 5*6,000= 30,000
In unitary bases:
Espresso coffee cups= 50,000/10,000= 5
Travel coffee mugs= 30,000/4,000= 7.5
Finally, the total unitary cost and the gross profit per unit:
Espresso coffee cups:
Total unitary cost= 6 + 2 + 5= $13
Gross profit= 20 - 13= $7
Travel coffee mugs:
Total unitary cost= 8 + 5 + 7.5= $20.5
Gross profit= 25 - 20.5= $4.5
What is the internal rate of return of a project costing $3,000; having after-tax cash flows of $1,500 in each of the two years of its two-year life; and a salvage value of $800at the end of the second year in addition to the $1,500 cash flow?a) 13%.
b) 15%.
c) 16%.
d) 19%.
Potatoes and wheat output (tons per day)
Country Potatoes Wheat
United States 4 2
Ireland 3 1
The United States has a comparative advantage in producing: __________
a. wheat
b. neither
c. potatoes
d. both
Answer:
c. potatoes
Explanation:
The computation is shown below:
Opportunity cost of producing 1 tons of wheat is
for US = 4 ÷ 3 = 1.33 tons of potatoes
for Ireland = 2 ÷ 1 = 2 tons of potatoes
As the opportunity cost is higher in united states of potatoes so here the united stated should be comparative advantage in generating potatoes
Mitchell waited until July 5, 2019, to file his 2018 Form 1040 return. He did request an extension and paid 90% of the anticipated balance due on April 15, 2019. His remaining balance due on his 2018 return is $88. What is his failure to file penalty
Answer:
The answer is "$0".
Explanation:
Following are the Tax code of the IRS, taxpayers high school ask that their return on their tax return be extended on a deadline but must thus pay at least 90% of all tax owed, so how they can suffer the nonpayment penalty.
All remainder of the taxes being paid should be paid by the additional due date set by the taxpayer. Companies will have to pay the tax interest just after the due date if they do not pay.
For this reason, M requires timely prolongation and pays 90% of the remainder by the due date. Therefore, 'M' won't be obliged to pay any taxman's failure-to-pay penalty. Therefore, M fails to file $0.
