Economic order quantity: sqrt( (2 x annual
Sales x ordering cost)/ carrying cost)
EOQ = sqrt(2x117106x4.14)/2.82)
EOQ = 586.38
Optimal average in inventory = EOQ/2
Inventory = 586.38/2 = 293.19
Round up:
Answer: 294 units
Warehouse operations have shut down at SHXCX Manufacturing suddenly due to a power outage. Warehouse managers are still able to communicate with their home office and their data servers, but unfortunately have no prepared solution to restoring operations. Which of the following controls would be best suited to combat this problem?
a. Validity test
b. Business Continuity Plan (BCP)
c. Disaster Recovery Plan (DRP)
d. Both B and C
Answer:
d. Both B and C
Explanation:
Business continuity planning and disaster recovery planning main goal is the keeping of a business running in the advent or event of an emergency or interruptions.
Business continuity plan (BCP)
This simply shows the important and essential processes, procedures, and personnel that is to be protected in case of an emergency. It uses the business impact analysis (BIA) to evaluate risks to the organization.
Disaster recovery plan (DRP)
This is simply defined as the known steps and procedures personnel in key departments of an organization must follow in any disaster case within the organization.
Business Continuity Planning has its main focus on sustaining operations and protecting the viability of the business following a disaster and it is a long termed focused. While the Disaster Recovery Planning main goal is to minimize the effects of a disaster and to take the necessary steps to ensure that the resources, personnel and business processes are able to resume operations in a timely manner. Its focus is on immediate aftermath of the disaster and it is a Short Term focused.
Use the starting balance sheet and the list of changes to create an updated balance sheet and to answer the question.
Valley Technology Balance Sheet As of December 31, 2020 (amounts in thousands)
Cash 2,200 Liabilities 3,600
Other Assets 2,800 Equity 1,400
Total Assets 5,000 Total Liabilities 5,000
Between January 1 and March 31, 2021:
1. Cash decreases by $200,000
2. Liabilities decrease by $100,000
3. Equity increases by $400,000
What is the value for Other Assets on March 31, 2021?
Answer: $3,300,000
Explanation:
Accounting formula:
Assets = Equity + Liabilities
Total equity and liabilities on March 31 is:
= Beginning balance - decrease in liabilities + Increase in Equity
= 5,000,000 - 100,000 + 400,000
= $5,300,000
Assets therefore has to be $5,300,000 on the same date.
Assets = New cash balance + Other assets
5,300,000 = (2,200,000 - 200,000) + Other assets
Other assets = 5,300,000 - 2,000,000
= $3,300,000
Beginning inventory Merchandise $ 275,000 Finished goods $ 450,000 Cost of purchases 500,000 Cost of goods manufactured 900,000 Ending inventory Merchandise 115,000 Finished goods 375,000 Compute cost of goods sold for each of these two companies for the year.
Answer:
Results are below.
Explanation:
Giving the following information:
Company 1:
Beginning inventory Merchandise $ 275,000
Cost of purchases 500,000
Ending inventory Merchandise 115,000
Company 2:
Cost of goods manufactured 900,000
Ending Finished goods 375,000
Beginning Finished goods $ 450,000
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured/purchased - ending finished inventory
Company 1:
COGS= 275,000 + 500,000 - 115,000
COGS= $660,000
Company 2:
COGS= 900,000 + 375,000 - 450,000
COGS= $825,000
Many elementary schools participate in programs where students go out into the community on behalf of a company to sell products from a catalog of goods, which the company ships directly to the consumer. Usually the school gets a cut of the profits and the kids are rewarded with prizes based on how much they sell. What type of channel member do the school children represent in this example?
Answer: Retailers
Explanation:
One type of distribution channel is one where a company ships its goods directly to a retailer which would then sell to a customer. For instance, when a car company sells directly to a car dealership and then the car dealership sells to consumers.
This is what is happening here. The company is selling directly to the school which then sells the goods through the students, to consumers. The students and the school can therefore be said to be retailers.
Suppose you borrow $9,875 and then repay the loan by making 12 monthly payments of $863.58 each. What is the effective annual rate (EAR) you are paying
Answer:
9.38%
Explanation:
PV = $9,875
PMT = $863.58
NPER = 12
Using the MS Rate Function to derive the Periodic rate
Periodic rate = Rate(NPER, -PMT, PV)
Periodic rate = Rate(12, -863.58, 9,875)
Periodic rate = 0.0075
Periodic rate = 0.75%
Nominal rate = Periodic rate * NPER
Nominal rate = 0.75% * 12
Nominal rate = 9%
Using the MS Effect Function to derive the effective annual rate (EAR)
Nominal rate = 9%
NPER = 12
Effective annual rate (EAR) = Effect(Nominal rate, NPER)
Effective annual rate (EAR) = Effect(9%, 12)
Effective annual rate (EAR) = 0.0938
Effective annual rate (EAR) = 9.38%
So, the the effective annual rate (EAR) you are paying is 9.38%.
Karen usually does not spend much time selecting gifts. However, when choosing a fountain pen for her husband's birthday this year, she visited several stores and spent a lot of time asking the sales staff about different features of the pen before making her purchase. This scenario illustrates _______. a. shopping involvement.b. enduring involvement.c. product involvement.d. situational involvement.
Answer:
Option d: situational involvement
Explanation:
Types of Involvement
Product Involvement; message involvement, situational involvement
Product involvement
In this stage of involvement, consumer's level of interest in product is largely based on perceived risk and application to daily life. This is simply known as a product category that is of high personal relevance.
Message involvement
This is simply the effects the media has on consumers such as high involvement is equal to high cognitive effort required (newspaper) while low-involvement equal to low cognitive.
Situational Involvement
This is simply defined as the circumstances surrounding the purchase area that may temporarily change a low-involvement decision into a high-involvement one. High-involvement is therefore when the consumer perceives risk in a specific situation. This usually takes place at location where purchasing.
The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $91,050. The conversion cost for the period in the Filling Department is $497,860. The total equivalent units for direct materials and conversion are 60,700 ounces and 68,200 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent. Direct materials cost per equivalent unit: $fill in the blank 1 per ounce Conversion costs per equivalent unit: $fill in the blank 2 per ounce
Answer:
Cost of Direct material per unit = $1.50 per unitCost of Conversion = $7.30 per unitExplanation:
Cost of Direct material per unit is:
= Total cost of direct material / Total equivalent units for direct materials
= 91,050 / 60,700
= $1.50 per unit
Cost of conversion
= Total cost of Conversion / Total equivalent units for Conversion
= 497,860 / 68,200
= $7.30 per unit
At the beginning of the year, your company borrows $33,600 by signing a six-year promissory note that states an annual interest rate of 9% plus principal repayments of $5,600 each year. Interest is paid at the end of the second and fourth quarters, whereas principal payments are due at the end of each year. How does this new promissory note affect the current and non-current liability amounts reported on the classified balance sheet prepared at the end of the first quarter
Answer:
Current liabilities Increase by $6356
Non-current liabilities Increase by $27,244
Explanation:
Calculation to determine How does this new promissory note affect the current and non-current liability amounts reported on the classified balance sheet prepared at the end of the first quarter
First step is calculate the Interest Payable using this formula
Interest Payable = Principal × Interest rate × Time
Let plug in the formula
Interest Payable= $33600 × 0.09 × 3/12
Interest Payable= $756
Now let determine the current and non-current liability amounts
Current liabilities = Interest payable + Current portion of long-term debt
Current liabilities= $756 + $5600
Current liabilities= $6356
Non-current liability = Amount of promissory note - Current portion of long-term debt
Non-current liability= $33600 - $6356
Non-current liability= $27,244
Therefore How does this new promissory note affect the current and non-current liability amounts reported on the classified balance sheet prepared at the end of the first quarter is:
Current liabilities Increase by $6356
Non-current liabilities Increase by $27,244
United Clinical Laboratories is a medical laboratory located in Minnesota. United Clinical Laboratories uses the weighted-average method in its process costing system. For the month of August, the following data are available for one department: Percent Completed Units Materials Conversion Work in process, August 1 45,000 90 % 55 % Work in process, August 31 26,000 75 % 49 % The department started 390,000 units into production during the month and transferred 409,000 completed units to the next department. Required: Compute the equivalent units of production for August.
Answer:
United Clinical Laboratories
Materials Conversion
Equivalent units of production 428,500 421,740
Explanation:
a) Data and Calculations:
Percent Completed Units Materials Conversion
Work in process, August 1 45,000 90 % 55 %
Work in process, August 31 26,000 75 % 49 %
Equivalent Units of Production for the month of August:
Units Materials Conversion
Work in process, August 1 45,000
Units started in August 390,000
Total units available 435,000
Units transferred out 409,000 409,000 (100%) 409,000 (100%)
Work in process, August 31 26,000 19,500 (75%) 12,740 (49%)
Equivalent units of production 428,500 421,740
The equivalent units of production for August for material and conversion is 428,500 and 421,740.
Calculation of equivalent unit of production:Percent Completed Units Materials Conversion
Work in process, August 1 45,000 90 % 55 %
Work in process, August 31 26,000 75 % 49 %
Now
Equivalent Units of Production for the month of August:
Units Materials Conversion
Work in process, August 1 45,000
Units started in August 390,000
Total units available 435,000
Units transferred out 409,000 409,000 (100%) 409,000 (100%)
Work in process, August 31 26,000 19,500 (75%) 12,740 (49%)
Equivalent units of production 428,500 421,740
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a 10 ounce bottle of soap costs $2.00. You can buy a 20 ounce bottle for $5.00. What is TRUE about your soap purchasing options?
a) it’s always better to purchase a product that offers more ounces.
b) both bottles cost the same price when you compare the price per ounce.
c) it is better to buy the 20-ounce bottle as the price per ounce is cheaper.
d) it is better to but the 10-ounce bottle because the price per ounce is cheaper.
Answer:
The TRUTH about the soap purchasing options is:
d) it is better to but the 10-ounce bottle because the price per ounce is cheaper.
Explanation:
a) Data and Calculations:
Cost of 10 ounce bottle of soap = $2.00
The per ounce cost of the 10-ounce bottle of soap = $0.20 ($2/10)
Cost of 20 ounce bottle of soap = $5.00
The per ounce cost of the 20-ounce bottle of soap = $0.25 ($5/20)
Therefore, the 10 ounce bottle of soap is cheaper and better.
b) It is more cost-effective to buy the 10 ounce bottle of soap. With $4.00, one can buy 2 of 10 ounce bottle of soap unlike $5.00 spent for 20 ounce bottle.
Answer: It is better to buy the 10-ounce bottle because the price per ounce is cheaper.
Personal communication systems such as personal networks and grapevines: Spread information hierarchically throughout the organization, from boss to employee and from employee to boss, for example. Contain less accurate information than other organizational communication systems. Contain only a small amount of organizational communications. Spread more information across organizations than formal communication channels such as downward communications.
Answer:
Spread more information across organizations than formal communication channels such as downward communications.
Explanation:
When there is a the personal communication system like the personal networks, and complains so here the more information should be spreaded across the organization as compared to the formal communication like downward communication
So as per the given situation, the last option is correct
A certificate of deposit usually has: Multiple Choice a variable rate of return. no minimum deposit amount. no set time period. a penalty for early withdrawal of funds. earnings based on fluctuating market interest rates.
Answer:
A certificate of deposit usually has:
a penalty for early withdrawal of funds.
Explanation:
When a customer opens an account with a bank or credit union with an initial deposit, which remains the same or continues to increase at a fixed amount until the agreed maturity period, a certificate of deposit is issued to the customer. The customer does not withdraw any amount until the fixed period has elapsed. Thereafter, the customer receives a fixed interest plus the deposit.
write a few sentences describing a situation where you (or someone you know) has used their problem solving skill or agility skill to increase their human capital in order to get a better job or earn more income.
Answer:
Increase human capital
Explanation:
In order to increase my own worth, I provide a perspective that others are apprehensive to commit to. This perspective is that of complete honesty, 100% of the time. I own my mistakes, I celebrate my successes and I am humble to the lessons of others and my own.
The capacity to identify, evaluate, comprehend, and effectively solve an issue. It is a set of abilities that includes listening, creativity, innovation, and analytical prowess, among other things. It is a very valuable and difficult skill in the business world.
When employers discuss problem-solving abilities, they frequently refer to the capacity to manage challenging or unforeseen circumstances at work as well as intricate commercial difficulties. Organizations depend on individuals who can objectively evaluate both types of events and calmly pinpoint solutions. These are qualities that give you the ability to achieve it.
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Portal Manufacturing has total fixed costs of $520,000. A unit of product sells for $15 and variable costs per unit are $11. a) At a minimum, how many units must Portal sell in order not to incur a loss?b) Prepare a contribution margin income statement showing predicted net income (loss) if Portal sells 100,000 units for the year ended December 31.
At a bare minimum, the units must portal sold in order not to incur a loss of 130,000 units.
Contribution margin per unit = Selling price per unit - Variable costs per unit
= $15 - $11
= $4
Break-even sales = Fixed costs / Contribution margin per unit
= $520,000 / $4
= $130,000
Sales (130,000 units * $15) $1,950,000
Variable costs (130,000 units * $11) ($1,430,000)
Contribution margin $520,000
Fixed costs ($520,000)
Net income $0
What is the Contribution margin per unit?The asking price of 1 unit of the product less the variable producing expenses is that the contribution margin per unit. the quantity that every sale contributes toward covering mounted prices is understood because of the unit contribution margin. it'll show the profit per unit oversubscribed when the mounted prices are paid.
Revenue less variable prices equal contribution margin. The formula for conniving the contribution margin magnitude relation is revenue - variable prices / by revenue.
The nearer the contribution margin is to 100 percent, the better; 100 percent is that the ideal contribution margin. The larger the quantity, the lot effectively a business pays its operational expenses out of money existing.
Selling price per unit less variable price per unit equals contribution margin, usually called dollar contribution per unit. the quantity of sales revenue stated as "Contribution" is the fraction that's not accustomed pay variable prices and thus helps to hide mounted prices.
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Warehouse Sports, a large box store retailer of athletic shoes, orders 200,000 shoes per year from its manufacturer. If w-
and spends $10,000 in total annual ordering costs, what is the cost of ordering and delivery per order?
O $2,000
$50
W
O $500
O There is not enough information to answer this question.
how success and failure in practice of management affect organization?
Explanation:
One of the most remarkable aspects of organizational change efforts is their low success rate. There is substantial evidence that some 70% of all change initiatives fail. This article explores the argument that a potentially significant reason for this is a lack of alignment between the value system of the change intervention and of those members of an organization undergoing the change. In order to test this assertion, the article begins by reviewing the change literature with regard to the impact of values on success and failure. It then examines Graves' Emergent Cyclical Levels of Existence Theory and uses this as the basis of a method for identifying and aligning value systems. The article then presents the results from case studies of two change initiatives in different organizations. These support both the method and the assertion that value system alignment may be an important factor in the success of organizational change initiatives. The article concludes with recommendations for further research.
Kwik Pix is a large digital processing center that serves 130 outlets in grocery stores, service stations, camera and photo shops, and drug stores in 16 nearby towns. Kwik Pix operates 24 hours a day, 6 days a week. Classify each of the following activity costs of Kwik Pix as either unit-level, batch-level, product-level, or facility-level.
a. Color printing materials.
b. Photocopy paper.
c. Depreciation of machinery.
d. Setups for enlargements.
e. Supervisor's salary.
f. Ordering materials.
g. Pickup and delivery.
h. Commission to dealers.
i. Insurance on building.
j. Loading developing machines.
Answer:
a. Color printing materials.
Classify of activity costs: Batch or unit-level
b. Photocopy paper.
Classify of activity costs: Unit-level
c. Depreciation of machinery.
Classify of activity costs: Unit-level
d. Setups for enlargements.
Classify of activity costs: Batch or unit-level
e. Supervisor's salary.
Classify of activity costs: Facility-level
f. Ordering materials.
Classify of activity costs: Batch or product-level
g. Pickup and delivery.
Classify of activity costs: Batch or product-level
h. Commission to dealers.
Classify of activity costs: Unit-level
i. Insurance on building.
Classify of activity costs: Facility-level
j. Loading developing machines.
Classify of activity costs: Batch-level
Classification of activity costs of Kwik Pix as either unit-level, batch-level, product-level, or facility-level is:
Activity cost: Color printing materialsActivity costs level: Unit-levelClassification of activity costa. Activity cost: Color printing materials.]
Activity costs level: Unit-level
b. Activity cost: Photocopy paper.
Activity costs level: Unit-level
c. Activity cost: Depreciation of machinery.
Activity costs level: Unit-level
d. Activity cost: Setups for enlargements.
Activity costs level: Batch or unit-level
e. Activity cost: Supervisor's salary.
Activity costs level: Facility-level
f. Activity cost: Ordering materials.
Activity costs level: Batch or product-level
g. Activity cost: Pickup and delivery.
Activity costs level: Batch or product-level
h. Activity cost: Commission to dealers.
Activity costs level: Unit-level
Inconclusion classification of activity costs of Kwik Pix as either unit-level, batch-level, product-level, or facility-level is: Activity cost: Color printing materials; Activity costs level: Unit-level.
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You decide to buy 1,800 shares of stock at a price of $68 and an initial margin of 75 percent. What is the maximum percentage decline in the stock price before you will receive a margin call if the maintenance margin is 30 percent
Answer:
Decline percentage = 64.29%
Explanation:
First find the margin call price = Initial price x (1 - initial margin) / (1-maintenance margin)
Margin call price = 68 x ( 1- 75%) / (1 - 30%)
Margin call price = $24.29
The margin call that the investor will have if the price fall to $24.29.
Now find the percentage decline:
Percentage decline = (68 - 24.29) / 68
Percentage decline = 0.6429
Thus decline percentage = 64.29%
Why was Circuit City so successful as to be fea- tured in Good to Great? What was its strategic position during its successful period? How did it contribute to competitive advantage?
Answer:
Circuit city was the second largest multinational U.S elctronic retailer. Founded in 1949 and it has 567 circuit superstores around the world. McCollough was the CEO who has an experience of 13 years. Because of his experienece in marketing and store management, he could serve the company as a genral manager.
McCollough implimented several strategies in order to gain the brand image for the company.
They have used five S's stratergies which includes selection, saving, service, satisfaction and speed
Explanation:
Several other reasons for calling circuit city successful as Good to Great are as follows,
The company has a point-of-point scale and also inventory-tracking technology to have control on secured cash transactions and consistent systems
The company is able to provide a quit response for timely chnaging trends and adapt to the dynamic environment in the market
They have avoided unneccessary business practices and neglected several unnessary competencies in the market
For each of the following, compute the future value:
Present Value Years Interest Rate Future Value $2,450 10 14 % $9,152 8 8 80,355 15 13 187,796 6 5
Answer:
938 4828 4838385848382 4>3>42[29495 56 6
Malik is a recent college graduate. He just started his first job as an investment
representative for Edward Jones. He has carefully budgeted his finances, and plans to
set aside $500/month for his retirement,
How would you recommend Malik invest his money?
Answer:
The answer is below
Explanation:
Given that Malik wants to invest his money for retirement purposes, here are some of the income-producing retirement investments he can invest his money:
1. Immediate Annuities
2. Bonds
3. Retirement Income Funds
4. Rental Real Estate
5. Real Estate Investment Trusts (REITs)
6. Variable Annuity With a Lifetime Income Rider
7. Closed-End Funds
8. Dividend Income Fund
9. Total Return Portfolio
The actual cash received from cash sales was $83,452, and the amount indicated by the cash register total was $83,480. Journalize the entry to record the cash receipts and cash sales.
Answer:
Dr Cash $83,452
Dr Cash short or Over $28
($83,480-$83,452)
Cr Sales $83,480
Explanation:
Based on the information given the appropriate journal the entry to record the cash receipts and cash sales is:
Dr Cash $83,452
Dr Cash short or Over $28
($83,480-$83,452)
Cr Sales $83,480
(To record the cash receipts and cash sales)
Trident Manufacturing Company's treasurer identified the following cash flows during this year as significant. It had repaid existing debt to the tune of $425,110, while raising additional debt capital of $750,000. It also repurchased stock in the open markets for a total of $63,250. It paid $233,144 in dividends to its shareholders. What is the net cash provided (used) by financing activities?
Answer:
$28,496
Explanation:
Calculation to determine the net cash provided (used) by financing activities
Cash inflows from financing activities $750,000
Less Cash outflows from financing activities ($721,504)
($425,110 + $63,250 + $233,144)
Net cash flows from financing activities $28,496
($750,000 – $721,504)
Therefore the net cash provided (used) by financing activities is $28,496
what is the meaning of want
Answer:
Want is to desire something or to yearn. (EX. I want an ice cream.) Want is showing that you would like something basically
Explanation:
Question 3
Rank the following assets of a commercial bank in order of decreasing liquidity.
(a) Market loans
(b) Reserves with the Bank of Ghana
(c) Cash
(d) Personal loans
(e) Sale and repurchase agreements (repos)
(f) Mortgages
(g) Government bonds (of from one to five years to maturity)
Answer:
Reserves with the Bank of Ghana
Explanation:
I could be wrong let me know if its correct or incorrect
A Real estate broker has a fiduciary responsibility to her client and her responsibilities include financial references, orders and examine reports, and must follow ADA title lll. This broker is most likely working for the client as:
Answer:owowo
Explanation:
Isidore
Entries for Uncollectible Accounts, using Direct Write-Off Method
Journalize the following transactions in the accounts of Canyon River Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables:
Jan. 19 Sold merchandise on account to Dr. Kyle Norby, $46,800. The cost of goods sold was $25,300.
June 2 Received $10,800 from Dr. Kyle Norby and wrote off the remainder owed on the sale of January 19 as uncollectible.
Oct. 23 Reinstated the account of Dr. Kyle Norby that had been written off on June 2 and received $36,000 cash in full payment.
Answer and Explanation:
The journal entries are as follows:
On Jan. 19
Accounts receivables $46,800
To Sales $46,800
(Being the merchandise sold on account is recorded)
Cost of goods sold $25,300
To Inventory $25,300
(being the cost of merchandise is recorded)
On June 2
Cash $10,800
Bad debt expense $36,000
To Accounts receivables $46,800
(being cash received is recorded)
On Oct. 23
Accounts receivables $36,000
To Bad debt expense $36,000
(being written off is recorded)
Cash $36,000
To Accounts receivables $36,000
(being cash received is recorded)
By appropriately preparing a forecast budget, a company can avoid __________. a net loss inventory shortages insolvency regulation
Answer:
insolvency
Explanation:
A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.
The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.
A specialized budget can be defined as a financial plan that is typically focused on specific assets or activity of a master (comprehensive) budget.
In conclusion, by appropriately preparing a forecast budget, a company can avoid insolvency.
In a slow year, Deutsche Burgers will produce 2.8 million hamburgers at a total cost of $3.4 million. In a good year, it can produce 4.8 million hamburgers at a total cost of $4.6 million.a. What are the fixed costs of hamburger production
Answer:
the fixed cost is $1.72 million
Explanation:
The computation of the fixed cost is shown below:
= Total cost - variable cost
= $3.4 million - ($4.6 million - $3.4 million) ÷ $3.4 million - $.1.2 million ÷ $2 million
= $3.4 million - 2.8 million × $0.60 million
= $1.72 million
Hence, the fixed cost is $1.72 million
Using the data below, determine the ending inventory amount assuming the weighted average method under a periodic inventory system.
Beginning inventory 10 units
Purchases 20 units
Total cost of units available for sale $3,000
Ending inventory 12 units
Answer:
$1200
Explanation:
The computation of the ending inventory is shown below:
Weighted Average Cost per unit is
= Cost of units available for sales ÷ units available for sales
= $3000 ÷ 30
= $100
Now
Ending Inventory is
= 12 units × Weighted Average Cost per unit $100
= $1200
