During the week, we will explore the differences between cash-basis and accrual-basis accounting, and learn the steps required to complete the accounting cycle. With that in mind, let's begin by discussing the following question:
Why do companies make adjusting entries?

Answers

Answer 1

Answer and Explanation:

Adjusting entries is to made for recording all types of expenses and revenues in a correct manner. There are some transactions such as accrued interest or revenue that could be realize at the time when the entries are depend upon the documents and transactions should be recorded. It is to be made in order to prepared the correct financial statements by considering the prepaid expenses that are adjusted, depreciation expense, unearned revenue etc


Related Questions

Using the high-low method, the fixed cost is calculated ______. Multiple select question. by adding the total cost to the variable cost using either the high or low level of activity before the variable cost is calculated after the variable cost per unit is calculated

Answers

Answer:

is calculated after the variable cost per unit is calculated

Explanation:

Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

In Financial accounting, fixed cost can be defined as predetermined expenses in a business that remain constant for a specific period of time regardless of the quantity of production or level of outputs. Some examples of fixed costs in business are loan payments, employee salary, depreciation, rent, insurance, lease, utilities, etc.

On the other hand, variable costs can be defined as expenses that are not constant and as such usually change directly and are proportional to various changes in business activities. Some examples of variable costs are taxes, direct labor, sales commissions, raw materials, operational expenses, etc.

Using the high-low method, the fixed cost can only be calculated after the variable cost (VC) per unit is calculated through the application of either the low or high level of activity.

Using the high-low method, the fixed cost is calculated : After the variable cost per unit is calculated.

What is costing?

Costing refers to the measurement of the cost of production of goods and services whereby, the fixed costs and variable costs associated with production are examined.

Fixed costs are costs that do not vary with the level of output, while variable cost are cost that varies with the activity level.

Using the high-low method, the fixed cost can only be calculated after the variable cost (VC) per unit is calculated through the application of either the low or high level of activity.

Hence, using the high-low method, the fixed cost is calculated after the variable cost per unit is calculated.

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Duane Miller wants to know what price home he can afford. His annual gross income is $67,200. He has no other debt expenses and expects property taxes and insurance to cost $320 per month. He knows he can get a 8.50%, 15 year mortgage so his mortgage payment factor is 9.85. He expects to make a 25% down payment. What is Duane's affordable home purchase price?
a. $107,929.
b. $158,793.
c. $138,207.
d. $209,139.
e. $179,665.

Answers

I think B I hope that helps!

Inventory balances for the Jameson Company in October 2018 are as follows:

October 1, 2018 October 31, 2018

Raw materials $27,000 $21,000
Work in process 48,000 37,200
Finished goods 108,000 90,000

During October, purchases of direct materials were $36,000. Direct labor and factory overhead costs were $60,000 and $84,000, respectively. What are the total manufacturing costs added to production in the period?

Answers

Answer:

Total manufacturing costs added to production $186,000

Explanation:

The computation of the total manufacturing cost to be added is given below:

Raw materials,beginning $27,000  

Add: Purchases of direct materials $36,000  

Less: Raw materials,ending -$21,000  

Direct materials used $42,000

Direct labor             $60,000

Factory overhead costs $84,000

Total manufacturing costs added to production $186,000

The lender charges you $9 per week for each $100 you borrow.
Assuming you borrow $300 for 2 weeks, what APR will you be paying?

Answers

Answer:

i believe 2,107.5711%

Explanation:

Suppose Gulf Shipping Company has the following results related to cash flows for 2019:
Net Income of $7,800,000
Decrease in Accounts Payable of $300,000
Increase in Accounts Receivable of $800,000
Depreciation of $1,200,000
Increase in Inventory of $900,000
Other Adjustments from Operating Activities of $700,000
Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts in thousands.
What is the Net Cash Flow from Operating Activities?
Note: Financial results are provided in dollars but the income statement units are thousands of dollars.
Please specify your answer in the same units as the statement of cash flows (i.e., enter the number from your completed statement of cash flows).

Answers

Answer:

$7,700

Explanation:

                 Cash Flow from Operating Activities

Particulars                                                                Amount

Net Income                                                               $7,800

Add: Depreciation                                                    $1,200

Add: Other adjustments                                           $700  

Cash flow before working capital adjustments   $9,700

Less: Decrease in Accounts payable                      ($300)

Increase in Accounts receivable                             ($800)  

Increase in Inventory                                                ($900)

Net Cash flow from Operating activities               $7,700

The January 1, Year 1 trial balance for the Tyrell Company is found on the trial balance tab. The beginning balances are assumed. Tyrell Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.) Year 1.

Apr. 20 Purchased $40,250 of merchandise on credit from Locust, terms n/30.
May 19 Replaced the April 20 account payable to Locust with a 90-day, 10%, $35,000 note payable along with paying $5,250 in cash.
July 8 Borrowed $80,000 cash from NBR Bank by signing a 120-day, 9%, $80,000 note payable.
Aug. 17 Paid the amount due on the note to Locust at the maturity date.
Nov. 5 Paid the amount due on the note to NBR Bank at the maturity date.
Nov. 28 Borrowed $42,000 cash from Fargo Bank by signing a 60-day, 8%, $42,000 note payable.
Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank. Year 2
Jan. 27 Paid the amount due on the note to Fargo Bank at the maturity date.

Required:
Prepare the 2016 journal entries related to the notes and accounts payable of Tyrell Co.

Answers

Answer:

Tyrell Company

Journal Entries:

2016

Apr. 20 Debit Inventory $40,250

Credit Accounts Payable (Locust) $40,250

To record the purchase of inventory on account, terms n/30.

May 19 Debit Accounts Payable (Locust) $40,250

Credit 10% Note Payable (Locust) $35,000

Credit Cash $5,250

To record the issuance of note payable for 90 days and cash payment.

July 8 Debit Cash $80,000

Credit 9% Note Payable (BR Bank) $80,000

To record the borrowing on note payable for a 120-day period.

Aug. 17 Debit 10% Note Payable (Locust) $35,000

Debit Interest Expense $875

Credit Cash $35,875

To record payment on account, including interest calculated as follows: ($35,000 + $35,000 * 10% * 90/360)

Nov. 5 Debit 9% Note Payable (BR Bank) $80,000

Debit Interest Expense $2,400

Credit Cash $82,400

To record payment on account, including interest calculated as follows:

($80,000 + $80,000 * 9% * 120/360)

Nov. 28 Debit Cash $42,000

Credit 8% Notes Payable (Fargo Bank) $42,000

To record the borrowing on note payable for a 60-day

Dec. 31 Debit Interest Expense $308

Credit Interest Payable $308

To accrue interest  ($42,000 * 8% * 33/360).

Explanation:

a) Data and Analysis:

2016

Apr. 20 Inventory $40,250 Accounts Payable (Locust) $40,250 terms n/30.

May 19 Accounts Payable (Locust) $40,250 10% Note Payable (Locust) $35,000 Cash $5,250

July 8 Cash $80,000 9% Note Payable (BR Bank) $80,000 a 120-day

Aug. 17 10% Note Payable (Locust) $35,000 Interest Expense $875 Cash $35,875 ($35,000 + $35,000 * 10% * 90/360)

Nov. 5 9% Note Payable (BR Bank) $80,000 Interest Expense $2,400 Cash $82,400 ($80,000 + $80,000 * 9% * 120/360)

Nov. 28 Cash $42,000 8% Notes Payable (Fargo Bank) $42,000 a 60-day

Dec. 31 Interest Expense $308 ($42,000 * 8% * 33/360) Interest Payable $308

2017

Jan. 27 8% Notes Payable (Fargo Bank) $42,000 Interest Payable $308 Interest Expense $252 Cash $42,560

As operations manager, you are concerned about being able to meet sales requirements in the coming months. You have just been given the following production report: JAN FEB MAR APR Units produced 2,250 1,750 2,750 2,950 Hours per machine 318 194 393 315 Number of machines 5 7 6 5 Find the average of the monthly productivity figures (units per machine hour).

Answers

Answer: 2.81 per hour

Explanation:

Average monthly productivity = (January productivity + February productivity + March productivity + April productivity) / 4

January productivity:

= Units produced / ( Hours per machine * Number of machines )

=  2,250 / ( 318 * 2 )

= 3.537

February productivity:

= 1,750/ ( 194 * 4 )

= 2.255

March productivity:

= 2,750 / ( 393 * 3 )

= 2.332

April productivity:

= 2,950/ ( 315 * 3)

= 3.121

Average monthly productivity = (3.537 + 2.255 + 2.332 + 3.121)/ 4

 = 2.81 per hour

If you want to increase your purchasing power by investing in a bond, then: _____________

a. you must purchase that bond at a discount.
b. the nominal rate of return on that bond must be less than the inflation rate.
c. you should purchase a premium bond.
d. the nominal rate of return must equal or exceed the rate of inflation.
e. you must earn a positive real rate of return on that bond.

Answers

Answer:

b. the nominal rate of return on that bond must be less than the inflation rate

. If Canace Company, with a break-even point at $313,500 of sales, has actual sales of $570,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage of sales? Round the percentage to the nearest whole number. 1. $fill in the blank 1 2. fill in the blank 2 % b. If the margin of safety for Canace Company was 25%, fixed costs were $1,419,375, and variable costs were 75% of sales, what was the amount of actual sales (dollars)? (Hint: Determine the break-even in sales dollars first.) $fill in the blank 3

Answers

Answer:

Canace Company

a-1) Margin of safety is:

= $256,500.

a-2) Margin of safety is:

= 55%.

b) The amount of actual sales is:

= $5,677,500.

Explanation:

a) Data and Calculations:

Break-even point sales = $313,500

Actual sales = $570,000

Margin of safety = $256,500 ($570,000 - $313,500)

Margin of safety as a percentage of sales = 55% ($313,500/$570,000 * 100)

2) Margin of safety = 25%

Fixed costs = $1,419,375

Break-even point in sales dollars = $1,419,375

Variable costs = 75% of sales

Contribution margin at break-even point = 25% (100% - 75%) = $1,419,375

Actual sales in dollars = $5,677,500 ($1,419,375/25%)

Presented below are definitions of certain terms. Select the appropriate term from the dropdown list. Definitions 1. Quantity of input required if a production process is 100% efficient. 2. Managing by focusing on large differences from standard costs. 3. Record that accumulates standard cost information. 4. Preset cost for delivering a product or service under normal conditions. a. Standard cost card b. Management by exception c. Standard cost d. Ideal standard

Answers

Answer:

1. Ideal standard

2. Management by exception

3. Standard cost card

4. Standard cost

Explanation:

Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

In Financial accounting, a direct cost can be defined as any expense which can easily be connected to a specific cost object such as a department, project or product. Some examples of direct costs are cost of raw materials, machineries or equipments.

On the other hand, any cost associated with the running, operations and maintenance of a company refers to indirect costs. Some examples of indirect costs are utility bill, office accessories, diesel etc.

1. Ideal standard: quantity of input required if a production process is 100% efficient.

2. Management by exception: Managing by focusing on large differences from standard costs.

3. Standard cost card: record that accumulates standard cost information.

4. Standard cost: preset cost for delivering a product or service under normal conditions.

WHAT ARE THE BENEFITS OF PHYSICAL ERGONOMICS​

Answers

Answer:

▫️Increased savings. • Fewer injuries. • More productive and sustainable employees. ...

▫️Fewer employees experiencing pain. • Implementing ergonomic improvements can reduce the risk factors that lead to discomfort.

▫️Increased productivity. • ...

▫️Increased morale. • ...

▫️Reduced absenteeism. •

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Explanation:

Hope it will help you

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.

.

.

Paid for wages Rs. 2000 and for commission Rs. 3000. Journal entry for this?

Answers

Answer:

Wages A/c Dr.

To cash A/c

(being wages paid)

Commission A/c Dr

To cash A/c

(being comission paid)

Ticketsales, Inc., receives $7,720,000 cash in advance ticket sales for a four-date tour of Bon Jovi. Record the advance ticket sales on October 31. Record the revenue earned for the first concert date of November 5, assuming it represents one-fourth of the advance ticket sales. Ticketsales, Inc. initially records prepaid and unearned items in balance sheet accounts.
View transaction list Journal entry worksheet Record the concert revenues earned. Note: Enter debits before credits. Debit Credit General Journal Date Nov 05

Answers

Answer:

When revenue has been received but the service has not been rendered, the revenue will not be recognized and will instead be treated as a liability called unearned revenue.

Date                   Account Title                                          Debit               Credit

Oct. 31                Cash                                                   $7,720,000

                           Unearned Ticket revenue                                      $7,720,000

Date                    Account Title                                         Debit               Credit

Nov. 5                  Unearned Ticket Revenue             $1,930,000

                          Ticket Revenue                                                   $1,930,000

Working

Ticket revenue = 1/4 * 7,720,000

= $1,930,000

Casey transfers property with a tax basis of $3,800 and a fair market value of $6,800 to a corporation in exchange for stock with a fair market value of $5,250 and $720 in cash in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $830 on the property transferred. Casey also incurred selling expenses of $461. What is the amount realized by Casey in the exchange

Answers

Answer:

$5789

Explanation:

Calculation to determine the amount realized by Casey in the exchange

Fair market value of stock $5250

Add Cash in transaction $ 720

Add Liability which is going to the buyer $ 830

Less Selling expenses ($461)

Amount realized $5789

($5250+$720+$830-$461)

Therefore the amount realized by Casey in the exchange is $5789

Third National Bank has reserves of $20,000 and checkable deposits of $100,000. The reserve ratio is 20 percent. Households deposit $5,000 in currency into the bank, and the bank adds that currency to its reserves. What amount of excess reserves does the bank now have

Answers

Answer:

$4000

Explanation:

Fractional banking is a banking system where a portion of customer's deposits is kept as reserves while remaining portion is lent out. The amount kept as reserves is determined by the required reserve ratio set by the Central bank.

Reserve ratio is the percentage of deposits that is required of commercial banks to keep as reserves

Total deposits = $100,000 + $5,000 = $105,000

Required reserves = 0.2 x 105000 = 21,000

total reserves = $20,000 + 5000 = 25,000

excess reserves = 25,000 - 21,000 = 4000

Bearington Enterprises uses an activity-based costing system to assign costs in its auto-parts division.

Activity Est. Indirect Activity Costs Allocation Base Cost Allocation Rate
Materials $60,000 Material moves $5.00/move
Assembling $175,000 Direct labor hours $5.00/dir. labor hour
Packaging $70,000 # of finished units $2.50/finished unit

The following units were produced in December with the following information:

Part # # Produced Materials Costs # Moves Dir. Labor Hrs.
Part 001 1,350 $2,500 100 500
Part 002 5,500 $5,000 400 200
Part 003 4,050 $7,000 2,800 1,550

Total manufacturing costs for Part 003 are : _______

Answers

Answer:

the Total manufacturing costs for Part 003 is $38,875

Explanation:

The computation of the Total manufacturing costs for Part 003 is given below:

= material cost + indirect cost

= $7000 + (2,800 × $5) + (1550 × $5) + (4,050 × $2.50)

= $7,000 + $14,000 + $7,750 + $10,125

= $38,875

Hence, the Total manufacturing costs for Part 003 is $38,875

The same should be considered and relevant

In its closing financial statements for its first year in business, the Runs and Goses Company, had cash of $242, accounts receivable of $850, inventory of $820, net fixed assets of $3,408, accounts payable of $700, short-term notes payable of $740, long-term liabilities of $1,100, common stock of $1,160, retained earnings of $1,620, net sales of $2,768, cost of goods sold of $1,210, depreciation of $360, interest expense of $160, taxes of $312, addition to retained earnings of $508, and dividends paid of $218.

Calculate:

a. Return on equity = __________
b. Return on total assets = __________
c. Gross profit margin = __________
d. Net profit margin = __________

Answers

Answer:

return on equality

return on way

return on potos

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Return on Equity can be calculated as Return on Equity = Net Income / share holders equity. Return on Equity = 726 /2780. Thus, Return on Equity = 26.11%

What is Return on Equity?

The ratio of a company's net income to the equity of its shareholders is known as return on equity (ROE). A company's profitability and the effectiveness of its revenue generation are measured by its return on equity (ROE). A corporation is better at turning its equity financing into profits the higher the ROE.

Although average ratios and those deemed "good" and "poor" might differ significantly from industry to industry, a return on equity ratio of 15% to 20% is typically regarded as good. The ratio would be regarded as low at 5%.

b)Return on Asset Ratio

Return on Asset Ratio = Net Income / Total Assets

Return on Asset Ratio = 726/ 5,320

Return on Asset Ratio = 13.65%

c)Gross Profit Margin

Gross Profit Margin = Gross Profit / Net Sales

Profit Margin = 1,558/ 2,768

Profit Margin =56.29%

d)Net Profit Margin

Net Profit Margin = Net Income / Net Sales

Profit Margin = 726/ 2,768

Net Profit Margin =26.23%

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Green Corporation reported pretax book income of $1,040,000. During the current year, the net reserve for warranties increased by $52,000. In addition, tax depreciation exceeded book depreciation by $110,000. Finally, Green subtracted a dividends received deduction of $26,000 in computing its current-year taxable income. Green's cash tax rate is

Answers

Answer:

19.30%

Explanation:

Calculation to determine what Green's cash tax rate is

First step is to calculate the Taxes payable using this formula

Taxes payable = (Pretax book income + provision for warranties - depreciation in excess of books - dividends received deduction) x 21%

Let plug in the formula

Taxes payable= ($1,040,000 + $52,000 - $110,000 - $26,000) x 21%

Taxes payable=$956,000×21%

Taxes payable= $200,760

Now let determine the Cash tax rate using this formula

Cash tax rate = Taxes payable / Pretax book income

Let Plug in the formula

Cash tax rate = $200,760 / $1,040,000

Cash tax rate = .1930

Cash tax rate=19.30%

Therefore Green's cash tax rate is 19.30%

The purpose of rough cut capacity planning is to: Select one: a. place a time fence around the MPS. b. determine a production schedule that offers a rough order of magnitude. c. cut excess capacity from the MPS. d. assess the feasibility of the MPS. e. govern the length of the execution cycle.

Answers

Answer:

The answer is "Option d".

Explanation:

To compute the estimated work on master capacity planning, the objective of basic resource allocation is utilized. It is then contrasted to a proven ability that enhances organizational MPS feasibility.

It verifies that you have enough ability at your disposal that satisfy the needs of your master's programs. It is a tool in long-term production scheduling for marketing and production to accomplish the ratio of the capacity required and accessible and to manage changes in the plan and/or looking.

Assume that Corn Co. sold 7,600 units of Product A and 2,400 units of Product B during the past year. The unit contribution margins for Products A and B are $34 and $59, respectively. Corn has fixed costs of $378,000. The break-even point in units is a.9,450 units b.11,340 units c.7,560 units d.14,175 units

Answers

,Answer: a. 9,450 units

Explanation:

You need to find the weighted average contribution margin for both products.

Product A

Weighted average contribution margin = Contribution margin * Units sold / Total units sold

= 34 * 7,600 / (7,600 + 2,400)

= $25.84

Product B

= 59 * 2,400 / 10,000

= $14.16

Breakeven point in units = Fixed costs/ (Weighted average contribution margin of both A and B)

= 378,000 / (25.84 + 14.16)

= 9,450 units

It should not usually be clear whether we are describing independent or mutually exclusive projects in the following chapters because when we only describe one project then it can be assumed to be independent.

a. True
b. False

Answers

Answer:

false

Explanation:

A mutually exclusive project is a project that if one occurs then the other project cannot occur also at the same time. Mutually exclusive projects are independent projects also

Binford Corporation's contribution margin ratio is 58%, and its fixed monthly expenses are $94,000. Assume that the company's sales for May are expected to be $178,000.
Required:
Estimate the company's net operating income for May, assuming that the fixed monthly expenses do not change.

Answers

Answer:

$9,240

Explanation:

Calculation to Estimate the company's net operating income for May, assuming that the fixed monthly expenses do not change

Using this formula

Net operating income = (CM ratio × Sales) - Fixed expenses

Let plug in the formula

Net operating income= (0.58× $178,000) - $94,000

Net operating income= $103,240 - $94,000

Net operating income= $9,240

Therefore the company's net operating income for May, assuming that the fixed monthly expenses do not change is $9,240

The Japanese economy has been experiencing slow growth. As a result the Prime Minister, who thinks John Maynard Keynes was the greatest economist ever, has decided to increase government spending. As head of the economic council the Prime Minister asks you to determine the size of the increase needed to bring the economy to full employment.
Assume there is a GDP gap of 1 billion yen and the marginal propensity to consume (MPC) is .60. What advise do you give the Prime Minister?
a. The recessionary gap is equal to 625 million yen.
b. The inflationary gap is equal to 1 billion yen divided by 2.5 or 0.4 billion yen.
c. The recessionary gap is equal to 1 billion yen divided by 2.5 or 0.4 billion yen.
d. The inflationary gap is equal to 1 billion yen divided by 1.66 or 0.625 billion yen.

Answers

Answer:

c. The recessionary gap is equal to 1 billion yen divided by 2.5 or 0.4 billion yen.

Explanation:

The computation is shown below:

The multiplier is

= 1 ÷ (1 - MPC)

= 1 ÷ (1 - 0.60)

= 2.5

Now the increase in government expenditure for closing out the recessionary gap should be

Change in income = change in government purchase × multiplier

100 = change in government purchase × 2.5

So, the change in government purchase should be

= 100 ÷2.5

= 40

Hence, the option c is correct

Flag
Collective case studies are known as multiple-case studies, cross-case studies, comparative case studies and contrasting case studies. What is a cross-case study?

Answers

Answer:

Explanation:

Cross case studies involves the use to several individual case studies in other to support a scientific study or research with the aim of reaching a reasonable and acceptable conclusion which can be generalized and adopted for use in similar cases. Researchers usually employ the use of cross case case study in the formulation of new knowledge by collating several case studies based on the research scenario, then rigorous relationships are examined by comparing and contrasting features of the existing cases.

On December 31, Ott Co. had investments in equity securities as follows:
Cost Fair value Lower of cost or fair value
Mann Co. $10,000 $8,000 $8,000
Kemo, Inc. $9,000 $11,000 $9,000
Fenn Corp. $11,000 $9,000 $9,000
$30,000 $28,000 $26,000
The Mann investment is classified as held-to-maturity, while the remaining securities are classified as available-for-sale. Ott does not elect the fair value option for reporting financial assets. Ott's December 31, Year 1, balance sheet should report total marketable debt securities as:_____.
a. $29,000.
b. $26,000.
c. $30,000.
d. $28,000.

Answers

Answer:

c. $30,000.

Explanation:

The calculation of the  total marketable debt securities reported in the balance sheet is given below;

= Mann Co cost + Kemo Co fair value + Fenn corp fair value

= $10,000 + $11,000 + $9,000

= $30,000

Hence, the  total marketable debt securities reported in the balance sheet is $30,000

Therefore the option c is correct

On November​ 1, Equipment had a beginning balance in the Office Supplies account of . During the​ month, purchased of office supplies. At November​ 30, Equipment had of office supplies on hand.

Required:
The Office Supplies​ T-account has been opened for you. Post the beginning balance and purchase of office supplies. ​

Answers

Answer:

T-account entry:

                                                       Office Supplies

Dr                                                                                                                       Cr

Nov. 1   Balance b/d             $1,700

Nov.      Purchases               $2,000

For 2020, Ms. Deming earned wages totaling $225,000.
Required:
1. Calculate any 0.9 percent additional Medicare tax owed, assuming that Ms. Deming is single.
2. Calculate any 0.9 percent additional Medicare tax owed, assuming that Ms. Deming files a joint return with her husband who earned $100,000 of wages for 2019.

Answers

Answer:

Additional Medicare is charged on the wages that are higher than $200,000.

1. Medicare owed assuming Ms. Deming is single:

= (225,000 - 200,000) * 0.9%

= 25,000 * 0.9%

= $225

2. Medicare owed assuming Ms. Deming files a joint return with her husband.

When filed together, their wages would be considered jointly.

= ( (100,000 + 225,000) - 200,000) * 0.9%

= 125,000 * 0.9%

= $1,125

Kermit plans to open a boutique. The initial investment is $10,000. He has to spend $1,500 in annual operations and maintenance. The boutique generates $3,000 in revenues every year. Kermit uses a 10 year planning horizon and a MARR of 12%. The correctly calculated Rate of Return for this project is ________________%.

Answers

Answer:

8.14

Explanation:

The Rate of Return is 8.14 from my calculations which you can find in the attached file.

Now since the Rate of return is 8.14. Which is less than MARR of 12%, it shows that investment is not good.

Year Initial Annual Maintenance Annual Revenue Total Cash Flow

0 -$10,000 -$10,000

1 -$1,500 $3,000 $1,500

2 -$1,500 $3,000 $1,500

3 -$1,500 $3,000 $1,500

4 -$1,500 $3,000 $1,500

5 -$1,500 $3,000 $1,500

6 -$1,500 $3,000 $1,500

7 -$1,500 $3,000 $1,500

8 -$1,500 $3,000 $1,500

9 -$1,500 $3,000 $1,500

10 -$1,500 $3,000 $1,500

Internal Rate of Return 8.1442% [IRR() in excel]

The rate of return is 8.1442 which is less than MARR of 12% investment is not worth it

The total manufacturing cost variance is a.the difference between total actual costs and total standard costs for the units produced b.the difference between planned costs and standard costs for the units produced c.the flexible budget variance plus the time variance d.none of the above

Answers

Answer:

a.the difference between total actual costs and total standard costs for the units produced

Explanation:

The total manufacturing cost variance shows the difference between the total actual cost i.e. incurred and the standard cost incurred for the units that are produced or generated

In mathematically, it should be

Total manufacturing cost variance = standard cost - actual cost

hence, the first option is correct

Given the following information, prepare an income statement for the Dental Drilling Company.

Selling and administrative expense $90,000
Depreciation expense 75,000
Sales 621,000
Interest expense 46,000
Cost of goods sold 231,000
Taxes 50,000

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Selling and administrative expense $90,000

Depreciation expense 75,000

Sales 621,000

Interest expense 46,000

Cost of goods sold 231,000

Taxes 50,000

With the information listed above, we need to make an income statement following the structure below:

Sales= 621,000

COGS= (231,000)

Gross profit= 390,000

Selling and administrative expense= (90,000)

Depreciation expense= (75,000)

Interest expense= (46,000)

Eearning before taxes (EBT)= 179,000

Taxes= (50,000)

Net operating income= 129,000

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