Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation: The Marketing Department has estimated sales as follows for the remainder of the year (in units): July 30,000 October 20,000 August 70,000 November 10,000 September 50,000 December 10,000 The selling price of the beach umbrellas is $12 per unit. All sales are on account. Based on past experience, sales are collected in the following pattern: 30% in the month of sale 65% in the month following sale 5% uncollectibleSales for June totaled $300.000. c. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at the end of June. d. Each beach umbrella requires 4 feet of Gilden, a material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of Gilden be equal to 5096 of the following month's production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be: June 30 72,000 feetSeptember 30 ___ feete. Gilden costs $0.80 per foot. One-half of a month's purchases of Gilden is paid for in the month of purchase; the remainder is paid for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $76,000. Required: 1. Prepare a sales budget, by month and in total, for the third quarter. (Show your budget in both units and dollars.) Also prepare a schedule of expected cash collections, by month and in total, for the third quarter. 2. Prepare a production budget for each of the months July-October. 3. Prepare a direct materials budget for Gilden, by month and in total, for the third quarter. Also prepare a schedule of expected cash disbursements for Gilden, by month and in total, for the third quarter.

Answers

Answer 1

Answer:

1(a). Budgeted sales value are as follows:

July = $360,000

August = $840,000

September = $600,000

Third Quarter = $1,800,000

1(b). Total scheduled cash collection are as follows:

July = $303,000

August = $486,000

September = $726,000

Third Quarter = $1,515,000

2. Units of production required are as follows:

July = 36,000 units

August = 67,000 units

September = 45,500 units

October = 18,500 units

3(a). Units of raw materials required to be purchased are as follows:

July = 206,000 units

August = 225,000 units

September = 128,000 units

Third Quarter = 559,000 units

3(b). Total Scheduled Cash Disbursement are as follows:

July = $158,400

August = $172,400

September = $141,200

Third Quarter = $472,000

Explanation:

Note: The data in the question are merged together. They are therefore first sorted before answering the question. See the attached Microsoft word file for the full question with the sorted data.

Also note: For all the budgets and schedules related to questions 1 to 3, see the attached excel file.


Related Questions

A company has established 7 pounds of Material J at $2 per pound as the standard for the material in its Product Z. The company has just produced 1,000 units of this product, using 7,200 pounds of Material J that cost $13,080. The direct materials quantity variance is:

Answers

Answer:

-$400 unfavorable

Explanation:

The computation of direct materials quantity variance is shown below:-

Direct material quantity variance = (Standard Quantity × Standard Price) - (Actual quantity × Standard price)

= (1,000 × 7 × $2) - (7,200 × $2)

= $14,000 - $14,400

= -$400 unfavorable

Therefore for computing the direct material quantity variance we simply applied the above formula.

True or False:
Transactions that result in significant investing and financing activities bu that do not involve cash are reported either directly after the statement of cash flows or in a note to the financial statements

Answers

Answer: True

Explanation:

Transactions that do not increase or decrease cash, but that result in significant investing and financing activities, are reported as noncash activities either directly after the cash flow statement or in a note to the financial statements.

It is true that In cash-flow statement, any transaction that do not involve cash are reported directly after the statement or in a note to the financial statements

Non-cash activities includes depreciation amortization, unrealized gain, unrealized loss etc

In accounting, non-cash investing or financing activities are required to be disclosed in the footnotes to the financial statements or within the cash flow statement.

Therefore, It is true that In cash-flow statement, any transaction that do not involve cash are reported directly after the statement or in a note to the financial statements.

Read more about Non-cash activities here

brainly.com/question/16200596

A $5,000 bond with a coupon rate of 5.1​% paid semiannually has eight years to maturity and a yield to maturity of 8.9​%. If interest rates rise and the yield to maturity increases to 9.2​%, what will happen to the price of the​ bond?

Answers

Answer:

The bond's market price will decrease by $72.08 (1.83%) from $3,928.89 to $3,856.81.

Explanation:

bond's current market price:

$5,000 / (1 + 4.45%)¹⁶ = $2,491.35

$127.50 x 11.27483 (PV annuity factor, 4.45%, 16 periods) = $1,437.54

current market price = $3,928.89

if interests rise and YTM increases to 9.2%, then new market price:

$5,000 / (1 + 4.6%)¹⁶ = $2,434.80

$127.50 x 11.15305 (PV annuity factor, 4.45%, 16 periods) = $1,422.01

current market price = $3,856.81

Jerry deposited $10,000 in a bank account, and 10 years later he closes out the account, which is worth $18,000. The annual rate of interest that Jerry has earned over the 10 years is closest to:

Answers

Answer:

r=  6.054% per year

Explanation:

given that

principal P=  $10,000

final amount A= $18,000

time t= 10 years

To find the annual rate we will use the formula below and solve for r

[tex]r = [(\frac{A}{P} )^\frac{1}{t} - 1][/tex]

Substituting our data into the expression and solving for r we have

[tex]r = [(\frac{18000}{10000} )^\frac{1}{10} - 1]\\\\r = [(1.8 )^\frac{1}{10} - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\\\r = [(1.8 )^0^.^1 - 1]\\r={1.06054-1}\\\\r= 0.06054[/tex]  

Calculate rate of interest in percent

r = 0.06054* 100

r=  6.054% per year

A project has estimated annual net cash flows of $56,600. It is estimated to cost $339,600.

Required:
Determine the cash payback period.

Answers

Answer:

It will take exactly 6 full years to cover for the initial investment.

Explanation:

Giving the following information:

Cash flow= $56,600

Initial investment= 339,600

The payback period is the time required for the cash flow to cover the initial investment:

Year 1= 56,600 - 339,600= -283,000

Year 2= 56,600 - 283,000= -226,400

Year 3= 56,600 - 226,400= -169,800

Year 4= 56,600 - 169,800= -113,200

Year 5= 56,600 - 113,200= -56,600

Year 6= 56,600 - 56,600= 0

It will take exactly 6 full years to cover for the initial investment.

What element of the tourism and recreation industry has increased tenfold over the last fifteen years, bringing increased revenue to cities in the Coastal South such as Miami, Fort Lauderdale, and Tampa

Answers

Answer: A. The Cruise Ship Industry

Explanation:

The Cruise Ship Industry has been until recently (due to the Pandemic) one of the fastest growing elements of Tourism and Recreation in the United States having increased tenfold over the last 15 years.

Indeed in 2018, it was estimated that the industry added over $52 billion to the US economy as well as employing over 400,000 people.

This massive growth has benefitted port cities from which these Cruises take off and return to such as Miami, Fort Lauderdale, and Tampa immensely.

The comparative balance sheet of Nathan Company appears below: NATHAN COMPANY Comparative Balance Sheet December 31, Assets 2017 2016 Current assets $420 $333 Plant assets 780 567 Total assets $1,200 $900 Liabilities and stockholders' equity Current liabilities $168 $144 Long-term debt 300 162 Common stock 432 306 Retained earnings 300 288 Total liabilities and stockholders' equity $1,200 $900 Using horizontal analysis, show the percentage change for each balance sheet item using 2016 as a base year. NATHAN COMPANY Comparative Balance Sheet December 31, Assets 2017 2016 Percentage change Current assets $420 $333 % Plant assets 780 567 % Total assets $1,200 $900 % Liabilities and stockholders' equity Current liabilities $168 $144 % Long-term debt 300 162 % Common stock 432 306 % Retained earnings 300 288 % Total liabilities and stockholders' equity $1,200 $900 % Using vertical analysis, prepare a common size comparative balance sheet. (Round percentages to 0 decimal places, e.g. 12.) NATHAN COMPANY Comparative Balance Sheet December 31 2017 2016 Assets Amount Percentage Amount Percentage Current assets $420 % $333 % Plant assets 780 % 567 % Total assets $1,200 % $900 % Liabilities and stockholders' equity Current liabilities $168 % $144 % Long-term debt 300 % 162 % Common stock 432 % 306 % Retained earnings 300 % 288 % Total liabilities and stockholders' equity $1,200 % $900 %

Answers

Answer:

                                    NATHAN COMPANY

                              Comparative Balance Sheet

                              For the years 2017 and 2016

                                              2017            2018          Change       Change

                                                                                     value           in %

Assets:

Current assets                      $420           $333            $87            26.13%

Plant assets                           $780           $567          $213            37.57%

Total assets                        $1,200           $900         $300            33.33%

Liabilities and stockholders' equity

Current liabilities                   $168            $144            $24             16.67%

Long-term debt                    $300            $162           $138            85.19%

Common stock                     $432           $306           $126             41.18%

Retained earnings                $300           $288             $12              4.17%

Total liabilities and equity  $1,200          $900          $300           33.33%

pryor frosted flakes company offers its customers a pottery cereal bowl if they send in 4 boxtops from flakes boxes and $1.00. The company estimates that 60% of the boxtops will be redeemed. In 2007, the company sold 500,000 boxes and costumers redeemed 220,000 boxtops receiving 55,000 bowls. if the bowls cost 2.50 each, how much liabilitiy for outstanding premiums should be recorded at the end od 2007?

Answers

Answer: $30,000

Explanation:

Company estimates that 60% of boxtops will be redeemed.

They sold 500,000 boxes

= 500,000 * 60%

= 300,000 boxtops will be sent in.

So far, 220,000 have been sent in. How many left;

= 300,000 - 220,000

= 80,000 boxtops are still to be sent in

4 boxtops are needed to receive a pottery bowl so with 80,000;

= 80,000/4

= 20,000 pottery bowls are due to be issued.

Each bowl costs $2.50 to make.  Customers will send in $1 however so effectively it will cost the company;

= 2.50 - 1

= $1.50

With 20,000 still left to be issued, each costing $1.50, the total liabilitiy for outstanding premiums to be recorded at the end of 2007 is;

= 20,000 * 1.5

= $30,000

A firm hires labor in a perfectly competitive labor market. Its current profit-maximizing hourly output is 100 units, which the firm sells at a price of $5 per unit. The Marginal Physical product (MPP) of the last unit of labor employed is 5 units per hour. The firm pays each worker an hourly wage of $15. a)What Marginal Revenue (MR) does the firm earn from sale of the output produced by the last worker employed? b)Does this firm sell its output in a perfectly competitive market?

Answers

Answer:

A.Marginal Revenue $3

B. No

Explanation:

A.Calculation for the Marginal Revenue (MR) that the firm earn from sale of the output produced by the last worker employed

Based on the information given we were told that the Marginal Physical product of the last unit of labor was 5 units per hour in which the firm pays each worker an hourly wage of $15. Now let calculate the Marginal Revenue using this formula

Marginal Revenue = Employees hourly wages/Marginal Physical product unit of labor

Where,

Employees hourly wages=$15

Marginal Physical product unit of labor =5 units per hour

Let plug in the formula

Marginal Revenue =$15/5

Marginal Revenue =$3

B. No reason been that the current profit-maximizing hourly output was 100 units in which we were told that the firm sells at a price of $5 per unit. While the Marginal Revenue gotten in (A) above was $3 which is lesser or lower than $5 per unit which simply means that the firm does NOT sell its output in a well perfectly competitive market .

"he company’s beginning cash balance was $90 and its ending balance was $85. Required: 1. Use the indirect method to determine the net cash provided by operating activities for the year. 2. Prepare a statement of cash flows for the year."

Answers

Answer:

1. Net cash provided by operating activities for the year = $130

2. Ending cash balance = $85

Explanation:

Note: This question is not complete. A complete question is therefore provided before answering the question. See the attached pdf file for the complete question.

The explanation to the answer is now provided as follows:

1. Use the indirect method to determine the net cash provided by operating activities for the year.

Note: See the part 1 of the attached excel file for the calculation of the net cash provided by operating activities for the year.

Note: See the part 1 of the attached excel file for the calculation of the net cash provided by operating activities for the year.

Cash flows from operating activities refers to the section of the cash flow statement that shows the cash generated and provided by the ongoing regular business activities of a company in a particular period. Cash flows from operating activities normally comprise of net income from the income statement, adjustments to net income as well as changes in working capital.

2. Prepare a statement of cash flows for the year.

Note: See the part 1 of the attached excel file for the statement of cash flows for the year.

Statement of cash flow refers to the financial statement that presents the effect of changes in balance sheet accounts and income on cash and cash equivalents by breaking it down to operating, investing, and financing activities.

A market economy is regulated by the interactions between which two things?

Answers

Answer:

b is the answer

Explanation:

producers and consumers

The profit-maximizing monopolist produces _____________ units and charges a price of _____________.

Answers

Answer: Q0; P3

Explanation:

The profit-maximizing monopolist produces Q0 units and charges a price of P3.

According to the exhibit graph, the monopolist will produce Q0 units. This is because a monopoly maximises profit at the point where Marginal Revenue equals Marginal Cost. Looking at the chart, the quantity of output where this happens is Q0.

The Monopolist will then charge a price of P3. After the profit-maximising output is realized, the way to find out the price the monopolist will sell at is the point where the output produced intersects with the Demand curve. At this point, the price listed is what people are willing to buy that amount of quantity for and so the Monopoly will sell at that price.

"A mutual fund manager of a "high technology" fund feels that the market for this sector will remain flat in the next coming months and he wishes to generate some additional income against his portfolio. The best strategy is to sell:"

Answers

Answer:  C.  narrow-based calls

Explanation:

Narrow based calls would include calls from one industry. The mutual fund is an "High technology" firm which means that it is a narrow based fund for instance as it is interested only in one industry being the High Tech industry.

The manager should invest in Narrow based calls that focus on the sector if he anticipates that the market will remain flat for the sector. Narrow based Calls are more volatile because they are specific and with the volatility comes higher premiums to be charged.

Should he wish to make income against the portfolio, he should sell these knowing that the options will not be called as the market will remain flat.

On March 15, a fire destroyed Sheridan Company's entire retail inventory. The inventory on hand as of January 1 totaled $5900000. From January 1 through the time of the fire, the company made purchases of $2032000, incurred freight-in of $242000, and had sales of $4140000. Assuming the rate of gross profit to selling price is 20%, what is the approximate value of the inventory that was destroyed

Answers

Answer:

the approximate value of the inventory that was destroyed is $4,862,000.

Explanation:

Use the Gross Profit percentage to find the value of the inventory that was destroyed.

Sales                                                          $4,140,000

Less Cost of Goods Sold

Opening Inventory          $5,900,000

Add Purchases                $2,032,000

Add Freight In                     $242,000

Available                            $8,174,000

Less Inventory Lost         ($4,862,000)

Cost of Sales                                             (3,312,000)

Gross Profit at 20%                                    $828,000

Conclusion :

The Value of  inventory that was destroyed is $4,862,000.

Data pertaining to the current position of Forte Company are as follows:

Cash $412,500
Marketable securities 187,500
Accounts and notes receivable (net) 300,000
Inventories 700,000
Prepaid expenses 50,000
Accounts payable 200,000
Notes payable (short-term) 250,000
Accrued expenses 300,000

Required:
Compute:
a. The working capital.
b. The current ratio.
c. The quick ratio.

Answers

Answer:

Forte Company

Computation of :

a. The working capital = Current Assets minus Current Liabilities

= $1,650,000 - $750,000

= $900,000

b. The current ratio = Current assets/Current liabilities

= $1650,000/$750,000

= 2.2 : 1

c. The quick ratio = (Current asset minus Inventory)/Current liabilities

= ($1,650,000 - 750,000)/$750,000

= $900,000/$750,000

= 1.2 : 1

Explanation:

a) Data and Calculations:

Cash                                                   $412,500

Marketable securities                          187,500

Accounts and notes receivable (net) 300,000

Inventories                                          700,000

Prepaid expenses                                50,000

Total Current Assets                     $1,650,000

Accounts payable                              200,000

Notes payable (short-term)               250,000

Accrued expenses                            300,000

Total Current Liabilities                  $750,000

b) Forte Company's working capital is the difference between the current assets and the current liabilities.  In this case, it is very positive with a huge sum of $900,000.

c ) Forte Company's current ratio is an expression of the relationship between current assets and current liabilities.  It shows how much of current liabilities that current assets can cover.  The ability of the management of Forte Company to settle its current obligations from the current assets is worked out under this ratio.

d) Forte has a quick ratio of more than 1 : 1.  It is similar to the current ratio but with the omission of the Inventory and Prepaid Expenses which are regarded as always taking longer to sell and recover respectively.

________________ allow(s) for more wealth because a larger market allows producers and consumers to benefit from lower costs.

Answers

Answer:

Global competition

Explanation:

Global competition is the competition in which the products and the services are provided by the companies that are competed and serve their products and services to international customers. In this the companies should faced a lot of challenges like taste and preferences, a lifestyle that occurs due to the difference in cultures also it generated the benefit from lowering the cost

Therefore according to the given scenario, global competition is the answer

Lopez Company uses both standards and budgets. For the year, estimated production of Product X is 500,000 units. Total estimated cost for materials and labor are $1,400,000 and $1,700,000.
Compute the estimates for (a) a standard cost and (b) a budgeted cost. (Round standard costs to 2 decimal places, e.g. 1.25.)

Answers

Answer:

a. Standard cost = Total estimated cost of material ÷ Estimated production

= $1,400,000 / 500,000 unit

= $2.80 per unit

Thus, the standard cost of material is $2.80, and the budgeted cost is $1,400,000.

b. Standard cost = Total estimated cost of labor / Estimated production

= $1,700,000 / 500,000

= $3.40  per unit

Thus, standard cost of labor is $3.40 and budgeted cost is $1,700,000.

Presence indicators _____.

a. are small digital badges that people can embed in emails and on websites to share their contact information and social affiliations.
b. are visual elements used to change the aesthetic of a web page.
c. are things that others create we feel are worth redistributing to our social networks.
d. are an option to have one's profile reflected back to them from the perspective of others.
e. enable users to project an identity more vividly to others within a community

Answers

Answer: enable users to project an identity more vividly to others within a community.

Explanation:

The small digital badges that people can embed in emails and on websites to share their contact information and social affiliations are referred to as identity cards.

Skin/themes are the visual elements that are used to change the aesthetic of a web page.

Identity reflectors are option to have one's profile reflected back to them from the perspective of others.

Presence indicator allow users to project an identity more vividly to others within a community.

Legacy issues $640,000 of 8.5%, four-year bonds dated January 1, 2017, that pay interest semiannually on June 30 and December 31. They are issued at $570,443 and their market rate is 12% at the issue date.

Required:
Record the issue of bonds with a par value of $640,000 cash on January 1, 2017 at an issue price of $570,443.

Answers

Answer:

                                                        Debit                               Credit

Jan 1 2017  

Cash                                                 570,443

Discount on bond                            69,557

    Bond payable account                                                      640,000

For the issue of bonds on discount

Explanation:

Legacy sold the bonds at a discount .A bond is said to be sold at a discount if it is sold at a price less that its face value. The difference  is called the discount.

To record the issuance of a bond at discount, the following accounts would be used :

Cash account- to record the amount received from the issuanceDiscount on bonds- this a contra-liability account to record the discount on the issueBond payable account : Another liability account to record the face value or principal amount of the bond.

Discount on bond = 640,000 - 570,443 = 69,557

Accounting entries:

                                                        Debit                               Credit

Jan 1 2017  

Cash                                                 570,443

Discount on bond                            69,557

    Bond payable account                                                      640,000

For the issue of bonds on discount

Note that the cash account was debited to increase the asset value and the the bond payable account credit to recognize an increase in liability.

An invoice of $600 for merchandise purchased is showing 3​/15, ​n/30 as terms of credit. If the invoice is paid on or before the fifteenth day after the invoice​ date, the amount to be paid is​ ________.

Answers

Answer:

Amount Payable or paid = $582

Explanation:

The terms of purchase state that the buyer will be entitled to a 3% cash discount if the payment for the purchases is made within 15 days of the purchase or invoice date.

Thus, if the payment is made on or within the fifteen days of invoice date, the cash discount that will be received is,

Discount = 600 * 0.03 = $18

So, the amount that will be payable for the merchandise will be,

Amount Payable or paid = 600 - 18  = $582

A cash equivalent is: Multiple Choice Another name for cash. Close to its maturity date but its market value may still be affected by interest rate changes.

Answers

Complete Question:

A cash equivalent is:

Group of answer choices

a) Generally is within 12 months of its maturity date.

b) Another name for cash.

c) An investment readily convertible to a known amount of cash.

d) Is not considered highly liquid.

e) Close to its maturity date but its market value may still be affected by interest rate

changes

Answer:

c) An investment readily convertible to a known amount of cash.

Explanation:

In Financial accounting, cash equivalents can be defined as any short term and highly liquid investments which can be easily converted or transformed to a known and standard amounts of cash and as such are subjective to little or no risk of changes in value.

This ultimately implies that, a cash equivalent is an investment readily convertible to a known amount of cash.

Under the statements of cash flow, cash equivalents can be classified broadly into three (3) categories and these are;

1. Operating activities.

2. Financing activities.

3. Investing activities.

Answer:

money

Explanation:

In your opinion, what are the forms of institutional advertising that are suitable for banks in Palestine with examples. Why??

Answers

Answer:

Institutional advertising for banks in Palestine should take into account the cultural sensibilities of the country.

As a muslim country, banks should take into account not only local Palestinian culture, but also general islamic culture when developing their advertising.

Palestine also has complex foreign relationships. Banks should also take this into account in order to create advertising that is effectively catered to the Palestinian people.

Using the tables above, what is the present value of $6,000 to be received at the end of each of the next four years, assuming an earnings rate of 10%?
a. $20,790
b. $19,020
c. $14,412
d. $25,272
1. Option A
2. Option B
3. Option C

Answers

Answer:

b. $19,020

Explanation:

Note: This question is not complete. The complete question is therefore provided in the attached pdf file before answering the question. Please, see the attached file for the full question.

Also note that the "1. Option A 2. Option B 3. Option C" are not actually part of the question.

The explanation to the answer is now provided as follows:

Note: This is an example of annuity. An annuity can be described as a series of payments made or income received at equal intervals.

Therefore, the relevant table in the question is the second table, i.e. table for the present value of an annuity of $1 at compound interest.

To calculate the present value (PV), the following for formula is used:

PV = ACI * PVA10% ............................ (1)

PV = Present value = ?

ACI = Annual cash inflows = $6,000

PVA = Present value of annuity of $1 at 10% for 4 years = 3.170

Note that the PVA is obtained for year 4 at 10% from the second table as already explained above.

Substituting the values into equation (1), we have:

PV = $6,000 * 3.170

PV = $19,020

Therefore, the correct option is option b. $19,020.

A location decision for a traditional department store (e.g., Macy's) would tend to have what type of focus? revenue focus environmental focus labor focus education focus cost focus

Answers

Answer: revenue focus

Explanation:

A location decision for a traditional department store (e.g., Macy's) would tend to have revenue focus. For every organization or company, revenue plays a vital role in the organization.

A traditional department store will shift its focus to a location whereby it can meet the needs of the people daily and generate as much revenue as possible.

Jamal lost his job as a shipbuilder. His plant closed down "temporarily" but never reopened and will not. Jamal's skills are very specialized and no longer in demand. His unemployment is best classified as .

Answers

Answer:

Structural unemployment

Explanation:

Since Jamal's specialized skills are no longer in demand, this is a clear example of structural unemployment.

Structural unemployment is a situation that exists when the skills one can offer and the available jobs are not matched. It is caused by changes in technology thereby causing the skills that one possesses to be old fashioned. Jamal would have to learn new skills that are in demand to be employable.

Say the marginal tax rate is 30 percent and that government expenditures do not change with output. Say also that the economy is at potential output and that the deficit is $200 billion.Required:a. What is the size of the cyclical deficit?b. What is the size of the structural deficit?c. How would your answers to a and b change if the deficit was still $200 billion but output was $200 billion below potential?d. How would your answers to a and b change if the deficit was still $200 billion but output was $100 billion above potential?

Answers

Answer:

a. The Cyclical deficit refers to the deficit arising from the difference between the potential output and the actual output.

The question assumes that the economy is producing at potential which means actual output equals potential output.

Cyclical Deficit = Tax rate * ( Potential Output - Actual Output)

Cyclical Deficit = 0.3 * 0

Cyclical Deficit  = $0

b. Structural deficit occurs even when the economy is at potential because it refers to Government deficits that happen when the economy is experiencing normal activity.

Structural Deficit = Actual deficit - Cyclical deficit

Structural Deficit = 200 billion - 0

Structural Deficit = $200 billion

c. Output is $200 billion below potential

Cyclical Deficit = Tax rate * ( Potential Output - Actual Output)

Cyclical Deficit = 0.3 * 200

Cyclical Deficit  = $60 billion

Structural Deficit = Actual deficit - Cyclical deficit

Structural Deficit = 200 billion - 60

Structural Deficit = $140 billion

d. Output is $100 billion above potential

Cyclical Deficit = Tax rate * ( Potential Output - Actual Output)

Cyclical Deficit = 0.3 * -100 as actual is above potential

Cyclical Deficit  = -$30 billion

Structural Deficit = Actual deficit - Cyclical deficit

Structural Deficit = 200 billion - (-30)

Structural Deficit = $230 billion

Acme Company’s production budget for August is 17,700 units and includes the following component unit costs: direct materials, $6.0; direct labor, $10.2; variable overhead, $6.2. Budgeted fixed overhead is $34,000. Actual production in August was 18,630 units. Actual unit component costs incurred during August include direct materials, $8.40; direct labor, $9.60; variable overhead, $7.00. Actual fixed overhead was $35,700. The standard fixed overhead application rate per unit consists of $2 per machine hour and each unit is allowed a standard of 1 hour of machine time.Required:Calculate the fixed overhead budget variance and the fixed overhead volume variance. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)

Answers

Answer:

a. $1,700 U

b. $3,260 F

Explanation:

a. Fixed over head budget variance = Actual fixed overhead - Budgeted fixed overhead

Actual fixed overhead = $35,700

Budgeted fixed overhead = $34,000

Fixed overhead budget variance = $35,700 - $34,000

= $1,700 U

b. Fixed overhead volume variance = Budgeted fixed overhead - Standard fixed overhead

Standard fixed overhead application rate = $2 per machine hr × 1hr

= $2

Budgeted fixed overhead = $34,000

Standard fixed overhead = Standard hours for actual output × Budgeted rate

= (18,630 units × 1hr) × $2

= $37,260

Fixed overhead volume variance

= $34,000 - $37,260

= 3,260 F

according to the nist the process of identifying risk, assessing risk, and taking steps to reduce risk to an

Answers

Answer: Risk management

Explanation:

According to the nist, the process of identifying risk, assessing risk, and taking steps to reduce risk to an acceptable level is referred to as the risk management.

Risk management simply has to do with the identification of risks before they occur. In such scenarios, the business owners can either avoid the risk or minimize the impact of the risk.

Granger Inc. Comparative Balance Sheets December 31

Assets 2017 2016
Cash $80,800 $48,400
Accounts receivable 87,800 38,000
Inventory 112,500 102,850
Prepaid expenses 28,400 26,000
Long-term investments 138,000 109,000
Plant assets 285,000 242,500
Accumulated depreciation (50,000) (52,000)
Total $682,500 $514,750

Liabilities and Stockholders' Equity
Accounts payable $102,000 $67,300
Accrued expenses payable 16,500 21,000
Bonds payable 110,000 146,000
Common stock 220,000 175,000
Retained earnings 234,000 105,450
Total $682,500 $514,750


Granger Inc. Income Statement Data For the Year Ended December 31, 2017

Sales revenue $388,460

Less:
Cost of goods sold $135,460
Operating expenses, excluding depreciation 12,410
Depreciation expense 46,500
Income tax expense 27,280
Interest expense 4,730
Loss on disposal of plant assets 7,500 233,880
Net income $154,580

Additional information:

1. New plant assets costing $90,000 were purchased for cash during the year.
2. Old plant assets having an original cost of $51,750 and accumulated depreciation of $43,650 were sold for $1,350 cash.
3. Bonds payable matured and were paid off at face value for cash.
4. A cash dividend of $23,427 was declared and paid during the year.

Required:
Prepare a statement of cash flows for Granger Inc. using the direct method.

Answers

Answer:

                                       GRANGER INC.

       STATEMENT OF CASH FLOWS (USING INDIRECT METHOD)

                  FOR THE YEAR ENDED DECEMBER 31, 2017

                Particulars                                                    Amount$

Cash flow from operating activities

Net Income                                                                    154,580

Adjustments to reconcile net income to net cash

provided by operating activities  

Adjustment for non cash effects

Depreciation expense                                                   46,500

Loss on sale of plant assets                                           7,500

Change in operating assets & liabilities

Increase in Accounts receivable                                  -49,800

Increase in inventory                                                      -9,650

Increase in prepaid expenses                                        -2,400

Increase in accounts payable                                         34,700

Decrease in accrued expenses payable                       -4,500

Net cash flow from operating activities (a)                 176,930

Cash Flow from Investing activities

Old Plant assets sold                                                       1,350

New plant assets purchased                                         -90,000

Long-term investments purchased                                -29,000

Net cash Flow from Investing activities (b)                -117,650

Cash Flow from Financing activities

Cash dividends paid                                                        -23,427

Common stock issued                                                      45,000

Bonds paid                                                                        -36,000

Net cash Flow from Financing activities (c)                 -14,427

Net Change in cash c=a+b+c                                            44,853

Add: Beginning cash balance                                           48,400

Closing cash balance                                                        93,253

A promotion related to the movie Pacific Rim Uprising was seen in Target stores throughout the United States. The sales promotion was designed to maximize the consumer's attention to a DVD release and provide storage for the products. This type of sales promotion is referred to as a

Answers

Answer:

This type of sales promotion is referred to as a Dealer Sales Promotion (Trade Promotion).

Explanation:

The Dealer Sales Promotion, otherwise known as Trade Promotion, is aimed at Dealers, designed to maximize the attention of consumers, and provide storage for the products in Target stores throughout the United States.  The promoters want Pacific Rim Uprising to be seen by consumers, so that their attention is galvanized, and to get Target stores to create the space for the DVD upon the film's release, through cooperative advertising.   It is not aimed directly at consumers or salespersons, but dealers.

Other Questions
What's the present value of $4,500 discounted back 5 years if the appropriate interest rate is 4.5%, compounded semiannually? The anticodon (Select all that apply): a. is a triplet of nucleotides in tRNA b. determines the identity of the amino acid to be added to the peptide chain c. is complementary to the codon d. binds to the codon via hydrogen bonds Which parts of the SPJ code of ethics should be considered when deciding whether to air the interview? Check all that apply. Act independently because money is involved. Be accountable because the story seems to be untrue. Be transparent because it is not clear who made the statements. Minimize harm because the protester might be affected by the interview. Seek truth because the protester made a statement about a major issue. Help wanted ill do brainliest!! Bob: Listen, donuts are made to bring joy into our lives and to wake up our glazed faculties. Just let them be distributed according to unchanging moral principles of justice. The donuts will distribute themselves according to natural principles. We just take what we want and the leftovers will be appreciated by those who enjoy them most. Don't overcomplicate this. Where's the chocolate milk? End Part 2 the part of cytoplasm other than cell organelles is called aA solid metal cone of base radius a cm and height 2a cm is melted and solidspheres of radius are made without wastage. How many such spheres can bemade? A local restaurant increases the prices on its burgers as soon as it begins a promotional campaign. Which of the following is most likely to be true? a) The promotional campaign featured how much better their burgers are. b) The promotional campaign focused on the value per dollar. c) The promotional campaign made demand more elastic. d) All of the above. PLEASE HELPYou have to create 3 functions to make hills on a grapRequirements are in the photo.(ignore graphs)4. Write equations for three hills that do meet the requirements. Sketch them on one axis. (For thepurposes of this exercise, this is a sketch, so the steepness and minimums and maximums of thegraphs do not need to be exact). (6 points: 1 point for each equation, 1 point for each sketched curve) As the athletic shoe buyer for Sports Authority, how would you go about forecasting sales for a new Nike running shoe? When organizations relate to their environments in ways that involve ethical dilemmas and decisions, these situations are said to fall within the context of the organization's _____ responsibility. Kenji earned the test scores below in English class.79, 91, 93, 85, 86, and 88What are the mean and median of his test scores? can anyone help (study guides as well) with spanish 2 module 3 dba on flvs Which two Mediterranean islands provided grain for the Romans? Which of the following is an example of a parameter? 9047 out of 531,310 citizens voted in the special election for city council. Half of the receipts at the coffee shop include web address for giving feedback. 3.5% of the restaurant goers are given a survey to fill out. All of the members of the community watch group gave their availability to volunteer over the summer. PLEASE HELP ASAP THANKS IN ADVANCE Graph the solution of 7x+3 Tech A says parallel circuits are like links in a chain. Tech B says total current in a parallel circuit equals the sum of the current flowing in each branch of the circuit. Who is correct? With which country does the United States share a special relashonship a term used to describe the close political l, economic, and cultural ties between two countries? A Australia B Germany C Great Britain D France Which of the following is not a good example of DPNs potential impact in the wider community? A new classroom at a school that teaches speech and lip-reading instead of ASL Demand for ASL courses at the high school level Presence of deaf or hard of hearing artists on prime time shows The election of a deaf president at a school for the deaf and hard of hearing