Answer:
A choiceboard.
Explanation:
This is generally described to be a graphical view or a teaching pattern where a tutor allows the said students to use these graphical knowledge to learn and understand a concept been impacted to them at their own pace. This choiceboard is been set up for so many reasons which may include; the encouraging of communication by giving the children means to request a particular object, also giving children certain visual prompt to say the correct words, it is also seen to streamline the selection of choice down there which could be a selection of choices.
United Apparel has the following balances in its stockholders’ equity accounts on December 31, 2018: Treasury Stock, $650,000; Common Stock, $400,000; Preferred Stock, $1,600,000; Retained Earnings, $1,200,000; and Additional Paid-in Capital, $6,800,000. Required: Prepare the stockholders’ equity section of the balance sheet for United Apparel as of December 31, 2018
Answer:
United Apparel Balance sheet as of December 31, 2018
Stockholders’ Equity section
Common Stock Capital ............................................$400,000
Preferred Stock Capital.............................................$1,600,000
Additional Paid-in Capital..........................................$6,800,000
Total Paid-in Capital....................................................$8,800,000
Retained Earnings.......................................................$1,200,000
Less: Treasury Stock...................................................($650,000)
Total Stockholders Equity..........................................$9,350,000
The Hirt & Block mutual fund has assets of $147 million, liabilities of $7 million and 7 million shares outstanding. The shares trade at $21.60 per share. What is the percentage load fee?
Answer: 8%
Explanation:
The load fee would be the excess percentage amount charged on the share over the Net Asset Value per share.
= [tex]\frac{Trading price per share - Net Asset Value per share}{ Net Asset Value per share}[/tex]
Net Asset value Per share = (Assets - Liabilities) / Number of shares
= (147 - 7) / 7
= $20
Load fee
= [tex]\frac{Trading price per share - Net Asset Value per share}{ Net Asset Value per share}[/tex]
= [tex]\frac{21.60 - 20}{20}[/tex]
= 8%
uestion 5
BROOKLYN LTD has developed a new product and is currently considering the marketing and pricing
policy it should employ for this. Specifically, it is considering whether the sales price should be set at Shs.
15,000 per unit or at the higher level of Shs. 24,000 per unit. Sales volume at these two (2) prices is shown
in the following table:
Sales price Shs. 15,000 per Unit
Forecast Sales volume Probability
20,000
0.1
30,000
0,6
40,000
0.3
Sales price Shs. 24,000 per Unit
Forecast Sales volume Probability
8,000
0.1
16,000
0.3
20,000
0.3
24,000
0.3
Answer:
BROOKLYN LTD
The selling price should be set at Shs. 15,000. At this price, there are more sales in unit and value than at the selling price of Shs. 24,000.
Explanation:
a) Data and Calculations:
Shs. 15,000 Probability Expected Sales
Forecasted Sales Volume 20,000 10% 2,000
Forecasted Sales Volume 30,000 60% 18,000
Forecasted Sales Volume 40,000 30% 12,000
Total Expected sales 32,000
Total Sales Value = Shs. 480,000,000 (Shs. 15,000 x 32,000)
Shs. 24,000 Probability Expected Sales
Forecasted Sales Volume 8,000 10% 800
Forecasted Sales Volume 16,000 30% 4,800
Forecasted Sales Volume 20,000 30% 6,000
Forecasted Sales Volume 24,000 30% 7,200
Total Expected sales 18,800
Total Sales Value = Shs. 451,200,000 (Shs. 24,000 x 18,800)
Imagine you want to use conflict in a positive way. You decide to create a sense of competition among your team members. Which of these tactics could create competition?]
Answer:
a. Acknowledge top performers in the company newsletter.
Explanation:
Conflict among group members could be used for improved results by enhancing the dispute in a constructive manner. This can be achieved by recognizing and rewarding the best performers accordingly.
Therefore according to the given situation, for deciding a sense of competition you need to acknowledge the top performance in the newsletter of the company so that the employees gots motivated that results in their coming better job opportunities
Hence, the correct option is a
The smartest thing a firm involved in an oligopoly market could do is to cut their prices and capture more of the market share from their competitors.
a) We learned in class that the best move would be to raise prices.
b) We also learned that cutting prices on an elastic demand curve will be a smart way of getting more revenues.
c) Cutting prices is no gaurantee of success. Indeed if the firm does capture more market share and customers, then their costs will go up and it will be harder for them because they will have lower profit margins - if they can earn any profit at all.
d) Both A and C are correct.
Answer:
Correct Answer:
c) Cutting prices is no gaurantee of success. Indeed if the firm does capture more market share and customers, then their costs will go up and it will be harder for them because they will have lower profit margins - if they can earn any profit at all.
Explanation:
An oligopoly market is a market form wherein a market or industry is dominated by a small group of large sellers. A pure monopoly maximizes profits by producing that quantity where marginal revenue = marginal cost. however, it is much more difficult for an oligopoly to determine at what output it can maximize its profit.
A project with an initial cost of $27,250 is expected to generate cash flows of $6,600, $8,700, $9,100, $8,000, and $7,400 over each of the next five years, respectively. What is the project's payback period?
Answer:
It will take 4 years and 130 days to recover for the initial investment.
Explanation:
Giving the following information:
A project with an initial cost of $27,250 is expected to generate cash flows of $6,600, $8,700, $9,100, $8,000, and $7,400
The payback period is the time required to recover for the initial investment:
Year 1= 6,600 - 27,250= -20,650
Year 2= 8,700 - 20,650= -11,950
Year 3= 9,100 - 11,950= -2,850
Year 4= 8,000 - 2,850= 5,150
To be more accurate:
(2,850/8,000)*365= 130
It will take 4 years and 130 days to recover for the initial investment.
Suppose an industry earns a rate of return of 10%, which is twice as high as that of competitive industries, 5%. How much is the price overcharge of that industry, if its capital is valued at half its annual revenue
Answer:
Let us assume that both the industries are having an investment of $100,000
The profit of the given industry which is having 10% rate of return will be $100,000 * 10% = $10,000
The other industry which is having the Rate of return of 5% will earn a profit of $100,000 * 5% = $5000.
As the capital is just half of the revenue, it signifies that the total revenue will be $200,000 . So the same value of $10,000 will be 5% of the total revenue. On the other hand, $5,000 would be 2.5% of total revenue.
Thus, the first stated industry will charge 2.5% more than the other industry.
Fallow Corporation has two separate profit centers. The following information is available for the most recent year: West Division East Division Sales (net) $ 410,000 $ 560,000 Salary expense 47,000 61,000 Cost of goods sold 143,000 259,000 The West Division occupies 10,250 square feet in the plant. The East Division occupies 6,150 square feet. Rent, which was $ 82,000 for the year, is an indirect expense and is allocated based on square footage. Compute operating income for the West Division.
Answer:
$168,750
Explanation:
The data below are extracted from the above question.
West division
Sales (S) = $410,000
Salary expense (E) = $47,000
Cost of goods sold (C) = $143,000
Proportional rent (R) = $82,000 % of square footage
Area of the division = 10,250 square feet.
Total area of both division = 10,250 + 6,150
= 16,400 square feet
Therefore, the operating income (I) for the West Division is given by the amount of sales minus salary expenses , cost of goods sold and rent.
I = S - E - C - R
= $410,000 - $47,000 - $143,000 - (82,000 × 10,250 / 16,400)
= $220,000 - $51,250
= $168,750
The yearly operating income for Fallow's Corporation West Division is $168,750.
A production department’s beginning inventory cost includes $478,000 of conversion costs. This department incurs an additional $1,047,500 in conversion costs in the month of March. Equivalent units of production for conversion total 770,000 for March.Required:Calculate the cost per equivalent unit of conversion using the weighted-average method.
Answer: $1.98
Explanation:
Equivalent Units of Production are used when the manufacturers have not completely finished their products for the year. This helps them express it in terms of fully manufactured units.
Using the weighted average method, the cost per equivalent unit is;
= [tex]\frac{Beginning inventory cost + Cost of current production}{Equivalent units of production}[/tex]
= [tex]\frac{478,000 + 1,047,500}{770,000}[/tex]
= $1.98
Ten years ago you put $150000.00 into an interest earning account. Today it's worth $275000. What is the effective annual interest earned on the account
Answer:
the effective annual interest earned on the account is 6.25%.
Explanation:
The effective annual interest earned on the account can be calculated as follows :
PV = - $150,000
N = 10
PMT = $0
P/yr = 1
FV = $275,000
R = ?
Using a Financial calculator, the effective annual interest, R, earned on the account will be : 6.2488 or 6.25%.
Last year Harrington Inc. had sales of $325,000 and a net income of $19,000, and its year-end assets were $250,000. The firm's total-debt-to-total-capital ratio was 15.0%. The firm finances using only debt and common equity and its total assets equal total invested capital. Based on the DuPont equation, what was the ROE
Answer:
8.94%
Explanation:
Firstly, we will need to find total equity and total debt of Harrington Inc inorder to apply the Dupont equation for getting ROE
Harrington's total debt = 15.00 % × $250,000
= $37,500
Harrington's total equity will be; applying accounting equation
Asset = Liabilities + Owner's equity
Owner's equity = Assets - Liabilities
= $250,000 - $37,500
= $212,500
Therefore, using the Dupont equation, we can calculate the ROE as;
(NI/Sales) × (Sales/Total assets) × (Total assets/Total common equity)
= 19,000/325,000 × 325,000 /250,000 × 250,000/212,500
= 8.94%
Praveen Co. manufactures and markets a number of rope products. Management is considering the future of Product XT, a special rope for hang gliding, that has not been as profitable as planned. Since Product XT is manufactured and marketed independently of the other products, its total costs can be precisely measured. Next year’s plans call for a $350 selling price per 100 yards of XT rope. Its fixed costs for the year are expected to be $315,000, up to a maximum capacity of 550,000 yards of rope. Forecasted variable costs are $245 per 100 yards of XT rope.
Required:
1. Estimate Product XT's break-even point in terms of (a) sales units and (b) sales dollars.
2. Prepare a CVP chart for Product XT. Use 7,000 units (700,000 yards/100 maximum number of sales units on the horizontal axis of the graph, and $1,400,000 as the maximum dollar amount on the vertical axis.
3. Prepare a contribution margin income statement showing sales, variable costs, and fixed costs for Product XT at the break-even point.
Answer:
1a. 3,000 units
1b. $1,050,000
2. See attachment.
3. contribution margin income statement
Sales ($350 × 7,000 units) $2,450,000
Less Variable Cost ($245 × 7,000 units)) ($1,715,000)
Contribution $735,000
Less Fixed Costs ( $315,000)
Operating Profit $420,000
Explanation:
Break-even point (sales units ) = Fixed Cost ÷ Contribution per unit
= $315,000 ÷ ($350 - $245)
= 3,000
Break-even point (sales dollars) = Fixed Cost ÷ Contribution Margin Ratio
= $315,000 ÷ ($105/$350)
= $1,050,000
In a competitive industry, it takes a fixed ratio of one skilled worker and two unskilled workers to produce a unit of output. If the immigration of unskilled workers lowers the wage of unskilled workers, it will likely
Answer:
The answer is that the ratio is likely the same.
Explanation:
There is no equivalent of how many unskilled worker can replace a skilled worker. Also, it's a fixed ratio of one skilled worker and two unskilled workers to produce a unit of output. Therefore, even though the wage of unskilled workers decreases because of a surplus in immigration of unskilled workers, and assume that the rest is the same, firms won't hire more unskilled workers.
A product selling in France has a price to the channel of EUR 10.00, fixed costs of EUR 33 million, and variable costs of EUR 4.50. How many units does the company have to sell to break even
Answer:
Break-even point in units= 6,000,000
Explanation:
Giving the following information:
Selling price= $10
Unitary variable cost= $4.5
Fixed costs= 33,000,000
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 33,000,000 / (10 - 4.5)
Break-even point in units= 6,000,000
Employees in a department are considered a team only when they directly interact and coordinate work activities with each other.
a. True
b. False
Answer:
True
Explanation:
Team can be defined as way in which group of people or individuals come together in one accord in order to carryout a task or an assignment for the purpose of achieving their aim,goals or objectives, which is why working together as a team either in a company or an organisation is vital and paramount because it help to create unity among employees and to enable the employees to interact and effectively coordinate their work activities with one another which will lead to the growth and success of the organisation or company.
White Lion Homebuilders has a current stock price of $22.35 per share, and is expected to pay a per-share dividend of $2.03 at the end of the year. The company’s earnings’ and dividends’ growth rate are expected to grow at the constant rate of 9.40% into the foreseeable future. If White Lion expects to incur flotation costs of 3.750% of the value of its newly-raised equity funds, then the flotation-adjusted (net) cost of its new common stock (rounded to two decimal places) should be .
Answer:
18.84%
Explanation:
the flotation adjusted cost of new common stock = [expected dividend / (net proceeds from stock issuance)] + expected growth rate
expected dividend = $2.03net proceeds from stock issuance = $22.35 x (1 - flotation costs) = $22.35 x 0.9625 = $21.5119expected growth rate = 9.4%the flotation adjusted cost of new common stock = [$2.03 / $21.5119] + 9.4% = 9.44% + 9.4% = 18.84%
Rally Quadcopters plans to sell a standard quadcopter (toy drone) for $45 and a deluxe quadcopter for $65. Rally purchases the standard quadcopter for $35 and the deluxe quadcopter for $45. Management expects to sell two deluxe quadcopters for every three standard quadcopters. The company's monthly fixed expenses are $14,700. How many of each type of quadcopter must Rally sell monthly to breakeven?
To earn $10,500?
First identify the formula to compute the sales in units at various levels of operating income using the contribution margin approach.
Answer:
Rally must sell 1,080 units of Standard and 720 units of Deluxe
Explanation:
Standard Deluxe Total
Sales price per unit $45 $65
Less: Variable cost ($35) ($45)
Contribution Margin per unit $10 $20
Sales Mix units (A) $3 $2 $5
Contribution margin $30 $40 $70
Weighted average Contribution $14
per unit C= B/A
Appointment of fixed cost between standard and deluxe
Total Fixed cost = 14,700
Break even point = Fixed cost / Weighted average Contribution per unit
= 14,700 / 14
= 1,050
Apportionment of Break even point sales between Standard and deluxe in sales mix ratio (3:2)
Standard = 1,050 * 3/5 = 630
Deluxe = 1,050 * 2/3 = 420
Unit to be sold to get desired profit = Fixed cost + Desired profit / Weighted average Contribution per unit
= (14,700 + 10,500) / 14
= 1,800
Apportionment of Units to be sold to get desired profit between Standard and Deluxe in sales mix ratio (3:2)
Standard = 1,800 * 3/5 = 1,080
Deluxe = 1,800 * 2/5 = 720
To reach target operating income, Rally must sell 1,080 units of Standard and 720 units of Deluxe
Which is the first step toward initiating efficient and effective international business negotiations:
Answer: Selecting an appropriate negotiation team
Explanation:
The first step toward initiating efficient and effective international business negotiations is selecting an appropriate negotiation team.
When an appropriate negotiation team has been selected to negotiate on behalf of a particular company, negotiation becomes easier and are more feasible and both parties can agree on a particular stance.
Absolute Company has a manufacturing facility in Brooklyn that manufactures robotic equipment for the auto industry. For Year 1, Absolute collected the following information from its main production line:Actual quantity purchased 200 unitsActual quantity used 110 unitsUnits standard quantity 100 unitsActual price paid $8 per unitStandard price $10 per unitAbsolute isolates price variances at the time of purchase. What is the materials price variance for Year 1?a. $400 favorableb. $400 unfavorablec. $220 favorabled. $220 unfavorable
Answer:
Direct material price variance= $400 favorable
Explanation:
Giving the following information:
Actual quantity purchased 200 units
Actual price paid $8 per unit
Standard price $10 per unit
To calculate the direct material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (10 - 8)*200
Direct material price variance= $400 favorable
Consider a university that purchases replacement chairs for its classrooms. The purchasing manager knows that the annual demand for replacement chairs is 500. The pricing schedule is as follows: Use the following Excel solution to this quantity discount problem with constant carrying cost. Carrying cost = $ 15 Ordering cost = $ 200 Annual Demand = 500
Quantity Price Q Discount Q Total Cost
100 $130 115.47 115.47 $ 66,732.05
200 $122 115.47 200.00 $ 63,000.00
500 $120 115.47 500.00 $ 63,950.00
What is the inventory ordering cost using the economic order quantity?
A. $1,000
B. $866
C. $500
D. $200
Answer:
b. $866
Explanation:
Annual demand from the question = D = $500
the ordering cost = S = $200
then the cost of carrying H = $15
we have to calculate the economic order quantity
= sqr(2*D*S)/H
= sqr(2 x 500 x 200)/25
= sqr(13333.3333)
this equals 115.469
which is approximately 115.5
next we have to calculate inventory ordering cost
= (D * S)/EOQ
= 200 *500/115.5
= 865.5
When approximated becomes $866
The inventory ordering cost using the economic order quantity is: B. $866.
First step is to calculate the Economic order quantity
Economic order quantity =√(2×D×S)/H
Where:
D=Annual demand=$500
S=Ordering cost=$200
H=Holding cost =$15
Let plug in the formula
Economic order quantity =(2 x 500 x 200)/15
Economic order quantity =√200,000/15
Economic order quantity =√13333.3333
Economic order quantity =115.46
Economic order quantity = 115.5 (Approximately)
Second step is to calculate the inventory ordering cost using this formula
Inventory ordering cost= (Annual demand× Ordering cost )/Economic order quantity
Let plug in the formula
Inventory ordering cost= (200×500)/115.5
Inventory ordering cost=100,000/115.5
Inventory ordering cost=$865.8
Inventory ordering cost=$866 (Approximately)
Inconclusion the inventory ordering cost using the economic order quantity is: B. $866.
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Which of the following is not a reason why it is important for parties to memorialize their agreements in writing?
a. A party enhances his/her chances of proving that an obligation was undertaken and makes it harder for the other party to deny making the promise.
b. Signing a writing communicates the seriousness of the occasion to the signer.
c. A person's signature on a written contract provides a basis for the contract to be authenticated.
d. Writings are subject to the danger that a person might fabricate terms.
Answer:
B. singing a writing communicates the seriousness of the occasion to the singer
The reason which is not important for parties to memorialize their agreements in writing is signing a writing communicates the seriousness of the occasion to the signer. Thus, the correct answer is C.
What is an agreement?Agreement refers to consent of individual on a particular opinion. When the both parties agree on a concept they will make it in writing. When this agreement enforceable by law it is considered as contract.
The reason it is important top memorialize the agreements in writing are it will act as proof or evidence when formulated in written to be presented in case of obligation.
An agreement will be duly signed by both the parties which shows its authenticity and reliability and avoid any false interpretation of the deal. When the agreement is in writing the violation of terms and conditions is not possible as it clearly mentions the drawbacks of circumstances if any party failed to fulfill the conditions of the agreement.
Therefore, the option C signing a writing communicates seriousness is the appropriate answer.
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It is always necessary for an agent to disclose the identity of the principal to any third person with whom he is contracting; otherwise the contract becomes void.
a. True
b. False
Debt financing has one important advantage that the early Modigliani and Miller (MM) propositions ignored: the interest on business debt is tax deductible. This benefit means that the amount of taxes that a business is required to
pay will be reduced by a phenomenon called an interest tax shield, which is a function of the amount of debt in the firm's capital structure and its tax rate. In contrast, the dividends that a corporation pays on its common and
preferred shares are not tax deductible.
Consider the case of Green Llama Foodstuffs, Inc.:
At the beginning of the year, Blue Chipmunk Foodstuffs, Inc. had an unlevered value of $8,500,000. It pays federal and state taxes at the marginal rate of 40%, and currently has $2,500,000 in debt capital in its capital structure.
According to MM Proposition I with taxes, Green Llama Foodstuffs is allowed to recognize a tax shield of ___________, and the levered value of the firm is:
a. $7,100,000
b. $12,500,000
c. $9,900,000
d. $4,500,000
Answer:
c. $9,500,000
Explanation:
Un-levered value = $8,500,000
Tax= 40% = 0.4
Debt capital= $2,500,000
Tax shield = Debt capital * Tax
Tax shield = $2,500,000 * 0.4
Tax shield = $1,000,000
Levered value = Unlevered value + Tax shield
Levered value = $8,500,000 + $1,000,000
Levered value = $9,500,000
A disadvantage of bonds is: Group of answer choices Bonds require payment of periodic interest Bonds require payment of principal Bonds can decrease return on equity Bond payments can be burdensome when income and cash flow are low All of the above
Answer:
All of the above.
Explanation:
A bond can be defined as a debt or fixed investment security, in which a bondholder (investor or creditor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time. The bond issuer are expected to return the principal (face value) at maturity with an agreed upon interest (coupon), which are paid at fixed intervals.
The disadvantages of bonds are listed below as;
1. Bonds require payment of periodic interest.
2. Bonds require payment of principal.
3. Bonds can decrease return on equity.
4. Bond payments can be burdensome when income and cash flow are low.
One characteristic of weekly newspapers is that they usually serve national consumers rather than local consumers. tend to have a larger male readership than daily newspapers. emphasize local news and advertising. have a significantly lower CPM than daily newspapers. do not charge premium rates.
Answer: emphasize local news and advertising.
Explanation:
One of the main function of the newspaper is to pass message accross to its readership. The newspaper sends information accross to people by informing them about happenings in the local and international scene.
One characteristic of weekly newspapers is that they emphasize local news and advertising. People can advertise on weekly newspapers and gets information across to the local people.
Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process:
Budgeted unit sales 500
Selling price per unit $1,970
Cost per unit $1,460
Variable selling and administrative expenses (per unit) $ 50
Fixed selling and administrative expenses (per year) $196,000
Interest expense for the year $ 13,000
Required:
Prepare the company’s budgeted income statement using an absorption income statement format shown below.
Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next four months as follows:
Sales in Units
April 74,000
May 85,000
June 114,000
July 92,000
The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 10% of the following month’s sales. The inventory at the end of March was 7,400 units.
Required:
Prepare a production budget for the second quarter; in your budget, show the number of units to be produced each month and for the quarter in total.
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Total cash receipts $310,000 $430,000 $360,000 $380,000
Total cash disbursements$365,000 $335,000 $325,000 $345,000
The company’s beginning cash balance for the upcoming fiscal year will be $25,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded.
Required:
Complete the company's cash budget for the upcoming fiscal year. (Cash deficiency, repayments, and interest, should be indicated by a minus sign.)
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year:
Ending Balances
Cash ?
Accounts receivable $ 8,500
Supplies inventory $ 4,700
Equipment $ 36,000
Accumulated depreciation $ 14,600
Accounts payable $ 2,200
Common stock $ 5,000
Retained earnings ?
The beginning balance of retained earnings was $32,000, net income is budgeted to be $16,300, and dividends are budgeted to be $2,700.
Required:
Prepare the company’s budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)
Answer:
Gig Harbor Boating
Budgeted Income Statement using absorption costing format:
Sales Revenue $985,000
Cost of Boats Sold 730,000
Gross profit $255,000
Total variable selling and
administrative expenses $25,000
Fixed selling and
administrative expenses (per year) 196,000 $221,000
Income before interest and taxes $34,000
Interest expense for the year 13,000
Pretax Income $21,000
2. Down Under Products, Ltd. of Australia
Production Budget for the second quarter
April May June Total
Sales in Units 74,000 85,000 114,000 273,000
Ending Inventory 8,500 11,400 9,200 9,200
Beginning Inventory 740 8,500 11,400 740
Units to be produced 81,760 87,900 111,800 241,460
3. Garden Depot
Summary of Cash Budget for the upcoming fiscal year:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Beginning cash bal. $25,000 $10,000 $63,800 $98,800
Total cash receipts $310,000 $430,000 $360,000 $380,000
Total cash available $335,000 $440,000 $423,800 $478,800
Total cash
disbursements ($365,000) ($335,000) ($325,000) ($345,000)
Bank loan (repyt) 40,000 (40,000)
Bank loan Interest (1,200)
Cash Balance ($30,000) $63,800 $98,800 $133,800
Required Minimum $10,000 $10,000 $10,000 $10,000
4. Mecca Copy
Budgeted Balance Sheet for the coming year:
Budgeted Balance Sheet for the next year:
Ending Balances
Cash $ 18,200
Accounts receivable $ 8,500
Supplies inventory $ 4,700
Equipment $ 36,000
Accumulated depreciation $ 14,600 $ 21,400
Total Assets $ 52,800
Accounts payable $ 2,200
Common stock $ 5,000
Retained earnings $ 45,600
Total Liabilities and Equity $ 52,800
Explanation:
1. Gig Harbor Boating:
Data and Calculations:
Budgeted unit sales 500
Selling price per unit $1,970
Sales Revenue = $985,000 ($1,970 x 500)
Cost per unit $1,460
Cost of Boats Sold = $730,000 ($1,460 x 500)
Variable selling and administrative expenses (per unit) $ 50
Total variable selling and administrative expenses = $25,000 ($50 x 500 )
Fixed selling and administrative expenses (per year) $196,000
Interest expense for the year $ 13,000
2. Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next four months as follows:
a) Data and Calculations:
March April May June July
Sales in Units 7,400 74,000 85,000 114,000 92,000
Ending Inventory 740 8,500 11,400 9,200
Beginning Inventory 740 8,500 11,400 9,200
Units to be produced 81,760 87,900 111,800
3. Garden Depot
Data and Calculations:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Beginning cash bal. $25,000 $10,000 $63,800 $98,800
Total cash receipts $310,000 $430,000 $360,000 $380,000
Total cash available $335,000 $440,000 $423,800 $478,800
Total cash
disbursements ($365,000) ($335,000) ($325,000) ($345,000)
Bank loan (repyt) 40,000 (40,000)
Bank loan Interest (1,200)
Cash Balance ($30,000) $63,800 $98,800 $133,800
Required Minimum $10,000 $10,000 $10,000 $10,000
4. Mecca Copy:
Data and Calculations:
Budgeted Balance Sheet for the next year:
Ending Balances
Cash ?
Accounts receivable $ 8,500
Supplies inventory $ 4,700
Equipment $ 36,000
Accumulated depreciation $ 14,600
Accounts payable $ 2,200
Common stock $ 5,000
Retained earnings ?
Retained Earnings:
Beginning = $32,000
Net income = 16,300
Dividends = (2,700)
Ending = $45,600
Gig Harbor Boating's budgeted income statement gives a snapshot into the future of its revenue, cost of boats sold, gross profit, and pretax income. Thus, it uses the projections to guide management towards the achievement of its targets.
Similarly, Down Under Products, Ltd. of Australia prepares a production budget for the second quarter to determine how much units it needs to produce to meet sales or customers' demand.
Garden Depot, as a retailer, ascertains its cash needs by preparing budgeted cash flows for the coming year.
Finally, Mecca Copy cannot operate its center without an idea about its financial position for the next year. Therefore, it prepares a budgeted balance sheet. All these budgets guide managements of these various entities and prepare them for taking necessary actions to plan and keep their companies afloat.
What are examples of career fields Skills USA prepares students for? Check all that apply.
health science
O education
agriculture
construction
manufacturing
transportation
information technology
public safety
Answer:
everything except education and agriculture
Explanation:
hope this helps •_•
Answer:
Everything except education and ariculture
Explanation:
edu 2021
Troy Engines, Ltd., manufactures a variety of engines for use in heavy equipment. The company has always produced all of the necessary parts for its engines, including all of the carburetors. An outside supplier has offered to sell one type of carburetor to Troy Engines, Ltd., for a cost of $35 per unit. To evaluate this offer, Troy Engines, Ltd., has gathered the following information relating to its own cost of producing the carburetor internally: Per Unit 15,000 Units per Year Direct materials $ 14 $ 210,000 Direct labor 10 150,000 Variable manufacturing overhead 3 45,000 Fixed manufacturing overhead, traceable 6 * 90,000 Fixed manufacturing overhead, allocated 9 135,000 Total cost $ 42 $ 630,000 *One-third supervisory salaries; two-thirds depreciation of special equipment (no resale value). Required: 1. Assuming the company has no alternative use for the facilities that are now being used to produce the carburetors, what would be the financial advantage (disadvantage) of buying 15,000 carburetors from the outside su'
Answer:
financial disadvantage = $435,000 - $525,000 = ($90,000)
Explanation:
outside vendor offer: cost per unit $35 x 15,000 = $525,000
production costs:
direct materials $14 x 15,000 = $210,000 direct labor $10 x 15,000 = $150,000 variable manufacturing overhead $3 x 15,000 = $45,000 fixed manufacturing overhead, traceable $6 x 15,000 = $90,000 ($60,000 are non-avoidable) fixed manufacturing overhead, allocated $9 x 15,000 = $135,000 (all are non-avoidable) total cost $42 x 15,000 = $630,000avoidable production costs = $435,000
financial disadvantage = avoidable costs - cost to purchase carburetors from outside vendor = $435,000 - $525,000 = ($90,000)
The business case for why companies should act in a socially responsible manner includes: Select one: a. It generates internal benefits including employee recruiting, workforce retention, training, and improved worker productivity b. It reduces the risk of reputation-damaging incidents c. It is in the best interest of shareholders and offers potential for increased buyer patronage d. All of the above
Answer:
d. All of the above
Explanation:
All alternatives are correct due to the fact that when a company acts in a socially responsible manner, it achieves several internal and strategic benefits that help in the success of the business.
Currently, organizations are no longer just profitable entities but are also promoters of positive social transformations for the locality in which they operate and for the world.
Being socially responsible includes having benefit programs for stakeholders, which includes improving the perception with which the company is seen, generating a position that attracts shareholders, retains employees, generates greater job satisfaction, which increases productivity and retention of staff.
Generally, corporate governance programs include the review and culture of continuous improvement of organizational processes, which reduces costs, risks and waste, which contributes to the generation of competitive and profitable advantages for the organization.
he carrying value of Blossom’s net identifiable assets, including the goodwill, at year-end is $855,000. Prepare Cullumber’s journal entry, if necessary, to record impairment of goodwill.
Answer:
Goodwill Impairment (Debit)
Goodwill (Credit)
Explanation:
In case goodwill is impaired, then the entry to record this impairment will be Goodwill Impairment Debit and Goodwill Credit.
By crediting the Goodwill, the account will be reduced. This shows that the business is currently worth less than is accounted for. The Goodwill account is reduced to identify this difference.
The Impairment loss is an expense and must be reflected in the income statement. Therefore, while we reduce Goodwill amount from balance sheet. We record the expense on the income statement, which would mean that the current year profit amount will be reduced.
