Answer:
Sell the inventory for $30000 scrap value
Explanation:
In the first place, if the old inventory is disposed of at $30,000 and cash inflow of $30,000 would be received
However, if manufactured by further by incurring an additional cost of $21,000,the incremental income is computed thus:
incremental income=sales value-scrap value-additional cost
Remember scrap value is a lost benefit if the inventory is processed further and not sold in its current state.
incremental income=$70,000-$30,000-$21000
incremental income=$19,000(less than cash flow when disposed of at scrap value, hence, the inventory should be sold at $30,000)
A division vice president fires project managers if they exceed 10 percent of their operating budget for their last three projects. This policy illustrates which component of internal control
Answer:
Control environment
Explanation:
Internal control is defined as the process by which a company ensures operational efficiency, transparent financial reporting, and drive compliance with policies, laws and regulations of the company.
Control environment is a component of internal control, it is the series of actions that management of an organisation takes to guide the daily activities of their employees.
It includes actions taken to deal with issues around laid down policies and procedures.
In the given scenario the division vice president fires project managers if they exceed 10 percent of their operating budget for their last three projects.
This creates a control environment that is aimed at discouraging project managers from exceeding their budgets
) What are the source documents for direct materials, direct labor, and manufacturing overhead costs assigned to this job
Answer:
As the details of the job are not included, I shall use the general source documents for these costs.
Direct Materials ⇒ Material requisition slip/document
These are documents that list out the materials that are needed for the production of the good in question. It is sent to inventory where the materials would be acquired from.
Direct Labor ⇒ Time sheets / Records
The company will have some form of time sheet or other recoding document that workers can use to clock the the time they worked on the good.
Manufacturing Overhead Cost ⇒ Predetermined rate.
For manufacturing overheads, a predetermined rate is usually used to apportion the cost.
which of the following would most likely be considered a short term goal
Bakeing 24 cookies for tomorrows bakesale
Finish knitting a quilt by this sunday
ect
Maricopa's Success scholarship fund receives a gift of $ 160000. The money is invested in stocks, bonds, and CDs. CDs pay 4.5 % interest, bonds pay 5.8 % interest, and stocks pay 8.4 % interest. Maricopa Success invests $ 15000 more in bonds than in CDs. If the annual income from the investments is $ 10450 , how much was invested in each account
Answer:
Maricopa's Success invested $40,000 in CDs, $55,000 in bonds and $65,000 in stocks.
Explanation:
Since Maricopa's Success scholarship fund receives a gift of $ 160,000, and the money is invested in stocks, bonds, and CDs, and CDs pay 4.5% interest, bonds pay 5.8% interest, and stocks pay 8.4% interest, and Maricopa Success invests $ 15000 more in bonds than in CDs, if the annual income from the investments is $ 10,450, to determine how much was invested in each account, the following calculation must be performed:
15,000 x 0.045 + 30,000 x 0.058 + 115,000 x 0.084 = 675 + 1740 + 9660 = 12,075
30,000 x 0.045 + 45,000 x 0.058 + 85,000 x 0.084 = 1350 + 2610 + 7140 = 11,100
37,500 x 0.045 + 52,500 x 0.058 + 70,000 x 0.084 = 1687.5 + 3045 + 5880 = 10,612.5
40,000 x 0.045 + 55,000 x 0.058 + 65,000 x 0.084 = 1800 + 3190 + 5460 = 10,450
Therefore, Maricopa's Success invested $ 40,000 in CDs, $ 55,000 in bonds and $ 65,000 in stocks.
The following refers to units processed by a breakfast cereal maker in August. Compute the total equivalent units of production with respect to conversion for August using the weighted-average inventory method.
Tons of Product Percent of Conversion Added
Beginning Work in Process 230,000 60%
Goods started 570,000 100%
Goods completed 620,000 100
Ending Work in Process 180,000 70%
a. 758,000
b. 800,000
c. 620,000
d. 746,000
Answer:
Total equivalent units= 746,000
Explanation:
Giving the following information:
Beginning Work in Process 230,000 60%
Goods started 570,000 100%
Goods completed 620,000 100
Ending Work in Process 180,000 70%
The weighted average method blends the costs and units of the previous period with the costs and units of the current period.
Units completed in the period + Equivalent units in ending inventory WIP (units*%completion) = Equivalent units of production
Equivalent units of production:
Units completed in the period= 620,000
quivalent units in ending inventory WIP= (180,000*0.7)= 126,000
Total equivalent units= 746,000
Mike Westfield is analyzing ordinary annuity investment by calculating the sum of the present values of its expected cash flows. Assuming an interest rate greater than 0%, which of the following would decrease the present value of the investment? a. Using a lower interest rate. b. The riskiness of the investment's cash flows decreases. c. Reducing the size of the annual payments by half (e.g., reducing the annual payment from $100 to $50) while doubling the number of annual payments (e.g., doubling the number of annual payments from 10 to 20). d. Doubling the size of the annual payments (e.g., doubling the annual payment from $100 to $200) while reducing the number of annual payments by half (e.g., reducing the number of annual payments from 10 to 5). e. None of the above will decrease the present value of the investment.
Answer:
Mike Westfield
The present of the investment would decrease if you are:
c. Reducing the size of the annual payments by half (e.g., reducing the annual payment from $100 to $50) while doubling the number of annual payments (e.g., doubling the number of annual payments from 10 to 20).
Explanation:
a) Data and Illustrations:
The present value of $100 annuity for 10 years at 10% = $614.50 ($100 * 6.145)
The present value of $50 annuity for 20 years at 10% = $428.70 ($50 * 8.574)
Compared to:
The present value of $100 annuity for 10 years at 10% = $614.50 ($100 * 6.145)
The present value of $200 annuity for 5 years at 10% = $758.20 ($200 * 3.791)
Or when a lower rate is used, for example 5%:
The present value of $100 annuity for 10 years at 5% = $772.20 ($100 * 7.722)
The present value of $100 annuity for 10 years at 10% = $614.50 ($100 * 6.145)
For every $1,000 of annual income, households maintain average cash balances (their demand for money) of $200. How will growth in GDP affect interest rates, holding the money supply constant? Use the liquidity preferenceLOADING... frameworkLOADING.... 1.) Using the line drawing tool, show the effect of growth in GDP using the liquidity preference framework. Properly label your line. 2.) Using the point drawing tool, indicate the new equilibrium interest rate and quantity of money. Label the point '2'. Carefully follow the instructions above, and only draw the required objects.
Answer:
Following are the solution to the given question:
Explanation:
Due to an income of $1000 per year, the average household that used demands $200 per year, however with the expansion in GDP, individuals' annual incomes also will increase, and therefore their need for money would also rise. the equilibrium real interest rate will be i2 instead of i1 just at the beginning. As a result, the quantity of money supply will stay like that at Q.
Assume the MPC is 0.625. Assuming only the multiplier effect matters, a decrease in government purchases of $10 billion will shift the aggregate demand curve to the a. left by about $13.3 billion. b. left by about $26.7 billion. c. right by about $36.7 billion. d. None of the above is correct.
Answer: b. left by about $26.7 billion.
Explanation:
The multiplier determines how much government spending affects the aggregagte demand.
Multiplier is:
= 1 / ( 1 - MPC)
= 1 / (1 - 0.625)
= 2.67
The effect on Aggregate demand is:
= Government spending * Multiplier
= -10 billion * 2.67
= -$26.7 billion
Aggregate demand will shift left by $26.7 billion to show that aggregate demand is decreasing.
Cycle counting ______.
a. is used to determine average cycle service level
b. is used to identify shelves needing repair
c. has a lower tolerance level for slower-moving items
d. follows a schedule such that the quantity of every SKU in inventory is counted at least once a year
Answer:
d. follows a schedule such that the quantity of every SKU in inventory is counted at least once a year
Explanation:
An inventory is a term used to describe a list of finished goods, goods still in the production line and raw materials that would be used for the manufacturing of more goods in a bid to meet the unending consumer demands.
Basically, an inventory can be classified into three (3) main categories;
I. Finished goods.
II. Work in progress (WIP).
III. Raw materials.
An inventory is recorded as a current asset on the balance sheet because it's primarily the most important source of revenue for a business entity.
Generally, it's important for a business to have a good idea of how many inventory it has at a specific period of time. In order to determine this, a process referred to as cycle counting can be used.
Cycle counting is a process that typically involves counting all stock keeping units (SKUs) for a specific period of time (in years), following a schedule that requires counting all items (every SKU in inventory) at least once a year.
Hence, a count of the stock keeping units (SKUs) simply means that you're physically counting how many units of each stock keeping unit (SKU) is carried at a particular point in time.
Furthermore, employees who are referred to as cycle counters are saddled with the responsibility of counting the stock keeping units (SKUs) and recording the information.
In cycle counting, the important items are counted more frequently by the cycle counters.
Both IFRS and U.S. GAAP allow deferred taxes to be: presented as noncurrent on the balance sheet. measured using a substantially enacted tax rate. recognized in equity after a fixed asset revaluation.
Answer:
presented as noncurrent on the balance sheet.
Explanation:
GAAP is an acronym for Generally Accepted Accounting Principles, it was adopted by the U.S. Securities and Exchange Commission (SEC) and is the comprehensive accounting rules and standard used in recording and reporting financial information.
The IFRS is an acronym for International Financial Reporting Standards,International Financial Reporting Standards, it is a set of accounting rules that ensure financial statements are consistent, transparent and comparable globally.
Both IFRS and U.S. GAAP allow deferred taxes to be presented as noncurrent on the balance sheet.
What type of loss exposures can be identified using these statements ?
Answer:
Risk Managers have several sources of information to identify loss exposures:
Questionnaires.
Physical inspection.
Flowcharts.
Financial statements.
Historical loss data.
Explanation:
hope it helps
Answer:
something about Shakira's hips not lying
Sam is eager to start a local magazine that
Answer:
currency
Explanation:
global companies still have access to trade with currency. its accepted whether the company is nonconvertible or convertible.
According to the law of ________, the quantity of Indian rupees demanded by U.S. consumers will ________ when the price of Indian rupees in terms of U.S. dollars falls.
Answer:
demand
rise
Explanation:
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
If the price of Indian rupees in terms of U.S. dollars falls, it means that the US dollar has appreciated against the rupees
it becomes cheaper to buy the rupees.
As a result, the quantity demanded of rupees would increase
If demand increased by 100 units at each price level, and the government set a price ceiling of $40, then there will be
Answer:
no surplus or shortage
Explanation:
Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied
If demamd increases by 100, new equilibrium is 40
Thus, ceiling price equal equilibrium
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Effects of a binding price ceiling
It leads to shortages
it leads to the development of black markets
it prevents producers from raising price beyond a certain price
It lowers the price consumers pay for a product. This increases consumer surplus
Clonex Labs, Incorporated, uses the weighted-average method in its process costing system. The following data are available for one department for October:
Units Percent Completed Materials Conversion Work in process,
October 1 49,000 90% 60%
Work in process, October 31 27,000 69% 46%
The department started 389,000 units into production during the month and transferred 411,000 completed units to the next department.
Required:
Compute the equivalent units of production for October. Show your complete solution.
Answer:
Materials 429,630
Conversion 423,420
Explanation:
Computation for the equivalent units of production for October.
MATERIALS
Equivalent units of production= 411,000 + (27,000*69%)
Equivalent units of production=411,000 + 18,630
Equivalent units of production= 429,630
CONVERSION
Equivalent units of production= 411,000 +(27,000*46%)
Equivalent units of production =411,000+12,320
Equivalent units of production= 423,420
Therefore the equivalent units of production for October is:
Materials 429,630
Conversion 423,420
Given the following data, compute overhead applied and the under- or overapplication of overhead for the period:
Estimated annual overhead cost $1700000
Actual annual overhead cost $1675000
Estimated machine hours 200000
Actual machine hours 190000
Answer:
Underapplied overhead= $60,000
Explanation:
Giving the following information:
Estimated annual overhead cost $1700000
Actual annual overhead cost $1675000
Estimated machine hours 200000
Actual machine hours 190000
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 1,700,000 / 200,000
Predetermined manufacturing overhead rate= $8.5 per machine hour
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 8.5*190,000
Allocated MOH= $1,615,000
Finally, the over/under allocation:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 1,675,000 - 1,615,000
Underapplied overhead= $60,000
Chabot Company had the following results last year: net operating income, $2,160; turnover, 5; and return on investment 18%. Chabot Company's average operating assets were: a. $300,000. b. $60,000. c. $10,800. d. $12,000.
A state of economic scarcity exists when consumers:
A. do not have enough resources to satisfy all of their wants.
B. save their money in banks instead of spending it.
C. borrow too much money to buy unnecessary products.
D. have their economic freedoms restricted by the government.
The largest component of national income is Group of answer choices interest. compensation of employees. rents. corporate profits.
Answer: Compensation of employees
Explanation:
National income simply refers to the total value of the goods which a country produces fora particular fiscal year.
The largest component of national income is the compensation of employees. It should be noted that the compensation of employees refers to the salaries, wages, bonuses etc that are given to the workers.
According to the National Association of Colleges and Employers (NACE) survey, some of the skills that employers seek include:
Answer:
1) Problem solving skills
2) Teamwork abilities
3) Strong work ethic
4) Analytic / Quantitative Skills
Explanation:
As reported by the National Association of Colleges and Employers (NACE), during their survey on skills employers seek in candidates. They have found that the most important skills employers seek in a candidate's resume aside from a good GPA are problem-solving skills and the ability to work in a team.
Other top skills that employers want are a strong work ethic and analytical/quantitative skills. These skills were among the top six in the last year's report of NACE. While this year they have become the top four most wanted skills by an employer.
There are other skills as well that employers seek such as Communication Skills (written), Leadership, Communication Skills (Verbal), Initiative, etc. However, they are not as important as the top four skills mentioned above.
Cox Engineering performs cement core tests in its laboratory. The following standards have been set for each core test performed:Standard Hours or Quantity or Rate Standard PriceDirect materials 3 pounds $0.75 per poundDirect labor 0.4 hours $12 per hourVariable manufacturing overhead 0.4 hours $9 per hourDuring March, the laboratory performed 2,000 core tests. On March 1 no direct materials (sand) were on hand. Variable manufacturing overhead is assigned to core tests on the basis of standard direct labor-hours.The following events occurred during March:[1] 8,600 pounds of sand were purchased at a cost of $7,310.[2] 7,200 pounds of sand were used for core tests.[3] 840 actual direct labor-hours were worked at a cost of $8,610.[4] Actual variable manufacturing overhead incurred was $3,200.REQUIRED: (NOTE: You must show your computations)(a) The materials price variance for March is:(b) The materials quantity variance for March is:(c) The labor rate variance for March is:(d) The labor efficiency variance for March is:(e) The variable overhead efficiency variance for March is:
Answer: See explanation
Explanation:
(a) The materials price variance for March is:
Actual cost of materials purchased = $7310
Less: Standard cost of actual quantity = 0.75 × $8600 = ($6450)
Direct material price variance = $860 Unfavorable
(b) The materials quantity variance for March is:
Standard cost of actual quantity = 0.75 × $7200 = $5400
Less: Standard cost of standard quantity = 3 × 2000 × $0.75 = $4500
Direct material quantity variance = $900 Unfavorable
(c) The labor rate variance for March is:
Actual cost of direct labor = $8610
Less: Standard cost of actual hours = 840 × $12 = $10080
Direct labor rate variance = $1470 favorable
(d) The labor efficiency variance for March is:
Standard cost of actual hours = 840 × $12 = $10080
Less: Standard cost of standard hours = 2000 × 0.4 × $0.12 = $9600
Direct labor efficiency variance = $480 Unfavorable
who is the cm of korea
Kim boo-kyum is cm ko korea
Answer:
kim book kyum is the cm of korea
Explanation:
hope it helps!!
The American Recovery and Reinvestment Act, signed by President Barack Obama in 2009, aimed at: Group of answer choices providing higher unemployment benefits to the residents of the economy. removing the supply bottlenecks in the economy. ensuring free trade flows across the world. stimulating the aggregate demand in the economy. closing an expansionary gap through a contractionary fiscal policy.
Answer: Stimulating the aggregate demand in the economy.
Explanation:
When former President Obama took over the governing of the nation in 2009, the country was in the midst of one of the worst global depressions that it had ever been through. Employment was high and aggregate demand was low.
President Obama therefore embarked on an expansionary fiscal policy by passing the American Recovery and Reinvestment Act which was to target certain sectors of the economy with the view of increasing investment in those sectors and consumption so that Aggregate demand can be stimulated in the economy as those two things are components of Aggregate demand.
You have an opportunity to work three hours of overtime and earn an extra $99 gross income. However, a total of $32 will be taken out for federal, state, and local taxes. You parked in the parking garage and will have to pay $6.50 total to park for the additional hours. You also didn't pack an extra meal, which you already have in the refrigerator at home; so you will have to spend $12 for food. You will also have to pay $55 for additional daycare for your children. According to the marginal principle and everything else equal (ceteris paribus); will you work the overtime? Why or why not? (Show your work) (10 %)
Answer:
no
the marginal benefit of working overtime in terms of income is less than the marginal cost of working overtime
Explanation:
According to the marginal cost principle, i would be willing to work if marginal benefit exceeds marginal cost
Marginal cost = 32 + 6.5 + 12 + 55 = 105.50
Marginal benefit = 99
the marginal benefit of working overtime in terms of income is less than the marginal cost of working overtime. So, i won't work overtime
On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item.
Product Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value)
Model A 12 $106 $102
Model B 45 84 70
Model C 36 254 243
Model D 31 85 88
Model E 41 132 148
Required:
Determine the value of the inventory at the lower of cost or market.
Answer:
The value of the inventory at the lower of cost or market price is:
= $21,170.
Explanation:
a) Data and Calculations:
Product Inventory Cost per Unit Market Value per Unit LCNRV
Quantity (Net Realizable Value)
Model A 12 $106 $102 $1,225 (12*$102)
Model B 45 84 70 3,150 (45*$70)
Model C 36 254 243 8,748 (36*$243)
Model D 31 85 88 2,635 (31*$88)
Model E 41 132 148 5,412 (41*$132)
Total cost of inventory based on LCNRV (per item) $21,170
If a perfectly competitive firm is producing a quantity where MC > MR, then profit: Group of answer choices is maximized. can be increased by increasing production. can be increased by decreasing production. can be increased by decreasing the price.
Answer:
The answer is "Option C".
Explanation:
Please find the complete question in the attached file.
A fully competing company can enhance profits by increasing production levels when marginal income is more than marginal cost. If MR > MC It means the company produces too little by generating an additional amount of good, which can generate income, to increase its output, and produce MR = MC only at the point when it produces and as in competition with perfect MR = price level. The business is going to increase production until MR = MC = price and revenue is optimum.
The Nelson Company has $1,196,000 in current assets and $460,000 in current liabilities. Its initial inventory level is $325,000, and it will raise funds as additional notes payable and use them to increase inventory. How much can Nelson's short-term debt (notes payable) increase without pushing its current ratio below 2.0
Answer:
The amount by which Nelson's short-term debt (notes payable) increase without pushing its current ratio below 2.0 is $138,000.
Explanation:
From the question, we have:
Initial current assets = $1,196,000
Initial current liabilities = $460,000
Initial inventory level = $325,000
Targeted current ratio = 2.0
Therefore, we have:
Initial current ratio = Initial current assets / Initial current liabilities = $1,196,000 / $460,000 = 2.60
New current liabilities = Initial current assets / Targeted current ratio = $1,196,000 / 2 = $598,000
Expected amount of increase in short-term debt = New current liabilities - Initial current liabilities = $598,000 - $460,000 = $138,000
By implication, we have:
Expected amount of increase in inventory level = Expected amount of increase in short-term debt = $138,000
New inventory level = Initial inventory level + Expected amount of increase in inventory level = $325,000 + $138,000 = $463,000
New current assets = Initial current assets + Expected amount of increase in inventory level = $1,196,000 +$138,000 = $1,334,000
We can now check as follows:
New current ratio = New current assets / New current liabilities = $1,334,000 / $598,000 = 2.23
Therefore, the amount by which Nelson's short-term debt (notes payable) increase without pushing its current ratio below 2.0 is $138,000.
Nelson's short-term debt can increase up to $276,000
The given information includes:
Current Assets = $1,196,000
Current liabilities = $460,000
So, when x amount is borrowed for short term and invested in inventory, then the Revised Current assets = 1,196,000 + x and Revised Current liabilities = 460,000 + x
Lets understand that Revised Current ratio should be 2.0.
We all know that Current ratio = Current Assets / Current liabilities
Now, we input the values
2.0 = $1,196,000 + x / $460,000 + x
$1,196,000 + x = 2.0x($460,000 + x)
$1,196,000 + x = 920,000 + 2x
2x - x = $1,196,000 - $920,000
x = $276,000
In conclusion, the amount of Nelson Short term debt can increase up to $276,000 without pushing its current ratio below 2.0.
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Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,538. The FICA tax for social security is 6.2% of the first $128,400 earned each calendar year, and the FICA tax rate for Medicare is 1.45% of all earnings for both the employee and the employer. The amount of federal income tax withheld from his earnings was $680.70. His net pay for the month is:_________
A) $3,857.30
B) $3,510.14
C) $4,538.00
D) $3,162.98
E) $4,190.84
Answer: $3,510.14
Explanation:
Trey Morgan's net pay will be amount remaining after deducting the FICA taxes for Social security and Medicare and the Federal income tax withheld.
The net pay is therefore:
= 4,538 - (4,538 * 6.2%) - (4,538 * 1.45%) - 680.70
= 4,538 - 281.356 - 65.801 - 680.70
= $3,510.14
Earning a profit may not be a companies_____ responsibility?
1. Singular
2. First
3. Only
4. Last
Katrina needs to use her communication and conflict management skills every day with her team. What stage of development is her team in?
Answer:
forming
Explanation:
Storming - stage 2
Decisions don't come easily within group. Team members vie for position as they attempt to establish themselves in relation to other team members and the leader, who might receive challenges from team members. Clarity of purpose increases but plenty of uncertainties persist. Cliques and factions form and there may be power struggles. The team needs to be focused on its goals to avoid becoming distracted by relationships and emotional issues. Compromises may be required to enable progress. Leader coaches (similar to Situational Leadership® 'Selling' mode).
As per the description provided, the stage of team development at which Katrina's team would be:
- Storming stage
The team development has been divided into five stages:
FormingStormingNormingPerformingAdjourningThe storming stage is described as the stage where every member comes up with his/her ideas and attempts to impress their peers.
This leads to competition among the members of the team and the development of conflicts.
Therefore, the leaders like Katrina intrude in order to resolve the disagreements and handle competition to ensure that the project goes in the right direction.
Thus, the 'storming' stage is the correct answer.
Learn more about 'Team Development' here:
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