The standards for product V28 call for 8.2 pounds of a raw material that costs $19.00 per pound. Last month, 2,100 pounds of the raw material were purchased for $39,480. The actual output of the month was 230 units of product V28. A total of 2,000 pounds of the raw material were used to produce this output.The direct materials purchases variance is computed when the materials are purchased.Required:a. What is the materials price variance for the month

Answers

Answer 1

Answer:

$420 favorable

Explanation:

The computation of the material price variance is shown below:

Material price variance = Actual quantity × (Actual price - standard price)

= 2,100 pounds × ($39,480 ÷ 2,100 pounds - $19)

= 2,100 pounds × ($18.8 - $19)

= 2,100 pounds × $0.20

= $420 favorable

Since the standard price is greater than the actual price so it would lead to favorable variance


Related Questions

he principle that suggests that the distribution of income should be based on the contribution made by individuals to​ society's total output is known as A. the functional distribution of income. B. the relative poverty standard. C. the productivity standard. D. the egalitarian principle. The productivity standard fails to yield an equal distribution of income because A. individuals have different abilities and skills. B. it is difficult to measure productivity accurately. C. richer countries have higher productivity than poorer countries. D. diminishing marginal productivity holds.

Answers

Answer:

The principle that suggests that the distribution of income should be based on the contribution made by individuals to​ society's total output is known as:

C. the productivity standard.

The productivity standard fails to yield an equal distribution of income because:

A. individuals have different abilities and skills.

Explanation:

Generally speaking, productivity refers to how many units of output we can produce by using X amount of units of inputs. The higher the output, the more productive we are.

The same principle is used by the productivity standard to allocate resources in a society. This is a basic doctrine of capitalism that believes that more work and more productivity should equal more income. That is why capitalistic countries tend to have unequal income distribution.

When Starbucks sells "Starbucks" T-shirts in its coffee shops or when the Chicago Cubs peddle cubs branded merchandise at Wrigley Field, why are their marketers so happy?

Answers

Answer:

Because they have produced beyond their normal sale products such as coffee for Starbucks in other words they have found a other way to make more money.

Explanation:

pls mark brainliest

a doctor works in a....​

Answers

Answer:

Clinic or Hospital

Explanation:

:)

The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead (a) 486,144 (b) 405,120 Bal. 81,024 Work in Process Bal. 10,880 (c) 754,000 298,500 90,500 (b) 405,120 Bal. 51,000 Finished Goods Bal. 39,000 (d) 662,000 (c) 754,000 Bal. 131,000 Cost of Goods Sold (d) 662,000 The overhead that had been applied to production during the year is distributed among Work in Process, Finished Goods, and Cost of Goods Sold as of the end of the year as follows: Work in Process, ending $ 24,480 Finished Goods, ending 62,880 Cost of Goods Sold 317,760 Overhead applied $ 405,120 For example, of the $51,000 ending balance in work in process, $24,480 was overhead that had been applied during the year. Required: 1. Identify reasons for entries (a) through (d). 2. Assume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary journal entry. 3. Assume that the underapplied or overapplied overhead is closed proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the necessary journal entry.

Answers

Answer and Explanation:

As per the data given in the question,

1.

a) Cost of goods manufactured.

b) Cost of goods sold.

c) Overhead cost applied to work in process

d) Actual manufacturing overhead cost.

2. Journal Entry

Manufacturing overhead A/c Dr. 81,024

To cost of goods sold A/c. 81,024

3.

Work in process ending $24,480 =6.04%

Finished goods ending $62,880 =15.52%

Cost of goods sold $317,760 =78.44%

Total cost $405.120 =100%

To calculate overhead allocation :

Work in process ending = ($81,024× 6.04%) =$4,894

Finished goods ending = ($81,024 × 15.52%) =$12,575

Cost of goods sold = ($81,024 × 78.44%) = $63,355

Total cost = $81,024

Journal Entry

Manufacturing overhead A/c Dr. 81,024

To work in process A/c. $4,893

To finished goods A/c. $12,575

To cost of goods sold A/c. $63,555

Smart Stream Inc. uses the total cost method of applying the cost-plus approach to product pricing. The costs of producing and selling 10,000 units of cell phones are as follows: Variable costs per unit: Fixed costs: Direct materials $150 Factory overhead $350,000 Direct labor 25 Selling and administrative expenses 140,000 Factory overhead 40 Selling and administrative expenses 25 Total variable cost per unit $240 Smart Stream desires a profit equal to a 30% return on invested assets of $1,200,000.
a. Determine the variable costs and the variable cost amount per unit for the production and sale of 10,000 cellular phones. Total variable cost $ Variable cost amount per unit $
b. Determine the variable cost markup percentage for cellular phones. Round to two decimal places.
c. Determine the selling price of cellular phones. If required, round to the nearest dollar.

Answers

Answer:

(a). Total variable Cost = $2,890,000

Total variable Cost Per Unit  = $289  

(b). Variable Cost Markup Percentage = 12.46%

(c). Selling Price Per Unit = $325

Explanation:

According to the scenario, computation of the given data are as follow:-

a). Total Fixed Cost = Selling and Administrative Expenses + Factory Overhead

= $140,000 + $350,000 = $490,000

Fixed Cost Per Unit = Total Fixed Cost ÷ Cost of Produced and Selling Units

= $490,000 ÷ 10,000 = $49

Total variable Cost Per Unit = Fixed Cost Per Unit + Variable Cost Per Unit

= $49 + $240 = $289

Total variable Cost = Cost of Produced and Selling Units × Total Cost Per Unit

= 10,000 × $289 = $2,890,000

b). Desired Profit = Invested Assets × 30%

= $1,200,000 × 30÷100 = $360,000

Variable Cost Markup Percentage = Desired Profit ÷ Total Cost

=$360,000 ÷ $2,890,000 = 0.1246 = 12.46%

c). Selling Price Per Unit = (1 + Variable Cost Markup Percentage) × Total Cost Per Unit

= (1 + 12.46%) × $289

= 1.1246 × $289

= $325

A company used straight-line depreciation for an item of equipment that cost $15,350, had a salvage value of $3,200 and a six-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,535 but its total useful life remained the same. Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life: Multiple Choice $2,880. $5,672. $1,215. $2,580. $3,200.

Answers

Answer:

The correct answer is $2,580.

Explanation:

Under straight-line method, depreciation expense is (cost - residual value) / No of years = ($15,350 - $3,200) / 6 years = $2,025 yearly depreciation expense.

Accumulated depreciation at Year 3 = $2,025 x 3 = $6,075

Net book value (NBV) becomes $15,350 - $6,075 = $9,275

New depreciation is ($9,275 - $1,535) / 3 years = $2,580 yearly depreciation expenses

Foreman Mining purchased land containing a copper deposit for $2,640,000 on January 7, 2021. The company expects to mine 770,000 tons of copper over the next 10 years, and the land is expected to have a residual value of $1,408,000. The company has also purchased mining equipment for $570,000 that will be used only at this site over the 10 years with an estimated residual value of $54,100. By the end of the first year, the company has mined and sold 61,000 tons of copper. What is the cost attributed to copper inventory for 2021, assuming the company uses the units-of-production method?

Answers

Answer:

$138,470

Explanation:

cost of mine = $2,640,000

residual value of the land = $1,408,000

cost of equipment = $570,000

residual value = $54,100

it should contain 770,000 tons of copper

units of production depreciation method:

depreciation of mine = ($2,640,000 - $1,408,000) / 770,000 tons of copper = $1.60 per ton of copperdepreciation of equipment = ($570,000 - $54,100) / 770,000 tons of copper = $0.67 per ton of coppertotal depreciation per ton of copper = $1.60 + $0.67 = $2.27

since 61,000 tons were extracted, then the depreciation expense = 61,000 x $2.27 = $138,470

On January 1, 2021, Hoosier Company purchased $940,000 of 10% bonds at face value. The bond market value was $985,000 on December 31, 2021. Required: Prepare the appropriate journal entry on December 31, 2021, to properly value the bonds assuming the bonds are classified as: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Trading securities. Securities available-for-sale. Held-to-maturity securities.

Answers

Answer:

1.

Dr Bonds 940,000

Cr Cash 940,000

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & losses 45,000

2.

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & Losses 45,000

3.

Dr Investment in bonds 985,000

Cr Discount on bond investment 45,000

Cr Cash 940,000

Explanation:

Hoosier Company Journal entries

1.

Dr Bonds 940,000

Cr Cash 940,000

Dr Fair Value adjustment 45,000

($985,000-$940,000)

Cr Net Unrealized holding gains & losses 45,000

2.

Dr Fair Value adjustment 45,000

Cr Net Unrealized holding gains & Losses 45,000

3.

Dr Investment in bonds 985,000

Cr Discount on bond investment 45,000

Cr Cash 940,000

The following information relates to the pension plan for the employees of Turner Co.: 1/1/20 12/31/20 12/31/21 Projected benefit obligation 9,765,000 10,458,000 14,007,000 Fair value of plan assets 8,925,000 10,920,000 12,054,000 AOCI – net (gain) or loss -0- (1,512,000) (1,680,000) Settlement rate (for year) 11% 11% Expected rate of return (for year) 8% 7% Turner estimates that the average remaining service life is 16 years. Turner's contribution was $1,323,000 in 2021 and benefits paid to retired employees was $987,000. The amount of AOCI (net gain) amortized in 2021 is

Answers

Answer:

The amount of AOCI (net gain) amortized in 2021 is $26,250

Explanation:

In order to calculate the calculate the amount of AOCI (net gain) amortized in 2021 we would have to use the following formula:

amount of AOCI (net gain) amortized in 2021=(AOCI net gain 12/31/20-Corridor amount for 2021)/Average remaining service life

AOCI net gain 12/31/20=$1,512,000  

Corridor amount for 2021=$1,092,000=10,920,000*10%

Average remaining service life=16  

Therefore, AOCI (net gain) amortized in 2021=($1,512,000-$1,092,000)/16

AOCI (net gain) amortized in 2021=$26,250

Your bagel shop uses both capital and labor in the production of bagels. In this production process capital and labor are substitutes. If you install a new oven and the marginal product of capital increases, you will:

a. reduce the number of workers you employ
b. increase the number of workers you employ
c. reduce the amount of capital you are using not make any changes since you are already maximizing profit

Answers

Answer:

The answer is option A) reduce the number of workers you employ

Explanation:

Installing a new oven is capital intensive. So, for a business person to incur an additional capital cost to aid the efficiency of production, something has to give.

In this case, where capital and labor are substitutes, installing a new oven will drastically reduce the workload thereby necessitating a reduction in the number of workers.

By implication, the cost of paying wages which is a recurrent expenditure will reduce. In the long run and if the oven is maintained, it will e a very cost effective option.

Installing a new oven also suggests a marginal increment in capital.

A firm that has an ROE of 12% is considering cutting its dividend payout. The stockholders of the firm desire a dividend yield of 4% and a capital gain yield of 9%. Given this information, which of the following statements is (are) correct? I. All else equal, the firm's growth rate will accelerate after the payout change. II. All else equal, the firm's stock price will go up after the payout change. III. All else equal, the firm's P/E ratio will increase after the payout change. Multiple Choice I only

Answers

Answer:

I only is correct. That is, all else equal, the firm's growth rate will accelerate after the payout change.

Explanation:

Holding every other condition constant, the cutting of the company's dividend payout will lead to a permanent fall in the dividend per share and this will cause a decrease in price.

However, the cutting the company's dividend payout will increased the retention rate that will increase the growth rate of the company.

Therefore, all else equal, the firm's growth rate will accelerate after the payout change.

 

Hawk-Dove (or Chicken) (t = tough, c = concede)
Two (young) players are engaged in a conflict situation. For instance, they may be racing their cars towards
each other on Main Street, while being egged on by their many friends. If player 1 hangs tough and stays in
the center of the road while the other player concedeschickens outby moving out of the way, then all glory is
his and the other player eats humble pie. If they both hang tough they end up with broken bones, while if
they both concede they have their bodiesbut not their prideintact.
Player 1 \ Player 2 t c
t -1,-1 10,0
c 0, 10 5, 5
The matrix form can be used to compactly represent the strategic form when there are two players even if
each player has more than two strategies to choose from.

Answers

Answer:

Sorry , didn't mean to tap this

Explanation:

On November 27, the board of directors of Armstrong Company declared a $.50 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Armstrong has 25,500 shares of $1 par common stock outstanding at November 27. Journalize the entries needed on the declaration and payment dates. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Answers

Answer:

On November 27

Debit Retained earnings $12,750

Credit Dividend payable $12,750

(To record the dividend declared)

On December 24

Debit Dividend payable $12,750

Credit Cash $12,750

(To record dividend paid)  

Explanation:

Dividends on gains on shares bought by the shareholders. They arise due to appreciation in share price and improvement in company's net income.The dividend payable was calculated as $.5 x 25,500 shares = $12,750.Dividends are usually paid out of retained earnings.The dividend payable account is debited when payment is to be made.

The manufacturing overhead budget at Cutchin Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 2,800 direct labor-hours will be required in September. The variable overhead rate is $7.00 per direct labor-hour. The company’s budgeted fixed manufacturing overhead is $43,120 per month, which includes depreciation of $3,640. All other fixed manufacturing overhead costs represent current cash flows. The September cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:

Answers

Answer:

$59,080

Explanation:

The calculation of September cash disbursements is shown below:-

September cash disbursement = Company's budgeted fixed manufacturing overhead - Depreciation + Variable manufacturing overhead

= $43,120 - $3,640 + $7.00 × 2,800

= $43,120 - $3,640 + $19,600

= $62,720 - $3,640

= $59,080

Therefore for computing the September cash disbursement we simply applied the above formula.

Which one of the following statements is correct concerning the mutual fund cash ratio​ (MFCR)? A. When mutual funds have a lot of cash it is a bearish signal because managers are not buying stocks. Your answer is not correct.B. A high MFCR is like high short interest in that it indicates pent up demand. This is the correct answer.C. Low mutual fund cash is bullish because it means managers have been buying stocks. D. High mutual fund cash indicates that fund managers might be forced to sell securities should investors wish to withdraw​ funds, a bearish signal.

Answers

Answer:

Following is the correct statement "When mutual funds have a lot of cash it is a bearish signal because managers are not buying stocks"

Explanation:

When the common assets have a large proportion of cash, it is the indications that stock managers are the market bearish in common and hold back on purchasing.  

Therefore, the correct statement in he given scenario is A and other statement B, C and D are incorrect

Information on Carney Company's fixed overhead costs follows: Overhead applied $ 361,200 Actual overhead 387,300 Budgeted overhead 372,000 Required: What are the fixed overhead price and production volume variances? (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.)

Answers

Answer:

The Fixed overhead price is "U" (unfavorable) and the The fixed overhead production volume is "U" (unfavorable)

Explanation:

Solution

Given that:

Fixed overhead price Variance is computed as:

Fixed overhead price Variance  = Actual - Budgeted

= 387,300 - 372,000

= 15,300 U

Thus,

The Fixed overhead production volume variance is computed as:

Fixed overhead production volume variance = = Budgeted - applied

= 372,000 - 361,200

= 10,800 U

If all goes according​ plan, Robo-Tech will soon have access to a new valuable external financing​ resource, that it can use to finance it future growth potential. To Do a. For​ Robo-Tech, what are the advantages of being a publicly listed​ company? b. For​ Robo-Tech, what are the disadvantages of being a publicly listed​ company? c. If​ Robo-Tech prefers that its shares trade on a centralized​ exchange, what listing exchanges make the most sense for​ Robo-Tech and​ why? d. Once​ Robo-Tech has sold its shares to the public does it care whether capital markets are​ efficient? In other​ words, how does market efficiency affect​ Robo-Tech?

Answers

Answer:

The overview of the offer problem is listed in the segment below on the explanation.

Explanation:

Becoming a publicly traded business gives access to that information or fund that it wants to expand. Shareholders can receive cash if a payout is not received, without getting the right to refer the organization to bankruptcy proceedings.Making it public gives the business the opportunity to even get a come back through his as well as her hard work. The proprietor can consolidate his and perhaps her business plan by releasing information. In reality, it's hard to evaluate the corporation's worth without making it public.

So that the above is the right answer.

Answer:

????

Explanation:

Financial statement data for the years ended December 31 for Parker Corporation are as follows: Current Year Prior Year Sales $2,595,600 $2,409,498 Fixed assets (net): Beginning of year $901,070 $820,000 End of year 829,330 901,070 a. Determine the fixed asset turnover ratio for the current and prior years. Round your answers to one decimal place. Current Year: Prior Year: b. Does the change in fixed asset turnover ratio from the prior year to the current year indicate a favorable or unfavorable trend

Answers

Answer:

we need to calculate the Average Fixed assets for both the periods.

Average Fixed Assets = (Fixed Assets at the beginning + Fixed assets at the ending period)/2

Current Year = ($901070+829330)/2

= 1730400/2

=$865200

Prior Year = $820000+901070

= 1721070/2

= $860535

Fixed Assets Turnover = Sales/Average Fixed Assets

Current year = $2595600/865200

= 3

Prior Year = $2409498/860535

= 2.8

b) There is an increase in the Fixed asset turnover which indicates an increase in efficiency of using fixed assets to generate sales.

Answer:

a. Current year 1.5  Prior year 1.4

b.  Yes it indicates a favorable trend as it shows that sales of $1.50 was generated for every $1 invested in current year as against $1.40 for every $1 invested in prior year.

Explanation:

Fixed Asset turnover is the ratio of revenue to average Fixed assets of a company.

It is a financial indicator that shows how much revenue a company generates in an accounting period for each $ 1 invested in assets (fixed asset in this case).

Average assets in the

current year

= $901,070 + $829,330

= $1,730,400

Prior year

= $820,000 + $901,070

= $1,721,070

As such fixed assets turnover for

current year

= $2,595,600/$1,730,400

= 1.5

prior year

= $2,409,498/$1,721,070

= 1.4

Which of the following statements generates the greatest amount of disagreement among economists? a. Increases in the money supply shift aggregate demand to the right. b. In the long run, increases in the money supply increase prices, but not output. c. Recessions are associated with decreases in consumption, investment, and employment. d. Government should use fiscal policy to try to stabilize the economy.

Answers

Answer:

d. Government should use fiscal policy to try to stabilize the economy.

Explanation:

Suggesting that the government should use fiscal policy to try to stabilize the economy generates the greatest amount of disagreement among economists because the process of implementing fiscal policy usually experiences lag as it is being slowed down by the political system (bureaucracy) of checks and balances.

Fiscal policy is the use of government expenditures, revenues and tax policies to influence macroeconomic conditions such as employment, inflation and Aggregate Demand (ADl in a specific country.

The benefits of fiscal policy is that investments, savings and growth is usually influenced in the long-run while it basically influences aggregate demand for goods and services in the short-run.

Harry and Meghan have considered starting their own business but are concerned about the possibility of losing even their personal assets if the business fails. One way for BOTH Harry and Meghan to avoid this liability risk would be to :

A.
divorce as soon as possible and establish two sole proprietorships

B.
Organize a limited partnership with Harry as the general partner

C.
set up offshore accounts

D.
form a corporation

Answers

Answer:

The correct option is D,form a corporation

Explanation:

The rationale for my choice of answer is that limited liability applies to a corporation which is found in other types of businesses.

Limited liability is a concept which implies that the liability of shareholders in a limited liability company is limited to the amount contributed to the business by a way of shares held in the company.

When a company runs into debt,the shareholders would not be required to make up such debts from their private pockets,hence Harry and Meghan personal effects are secure.

The way for Harry and Meghan to avoid liability risk is to form a corporation

Typically, a limited liability applies to a corporation which means that the owner liability is limited to the amount he owns in the business.

Limited liability implies that liability of shareholders is limited to the amount contributed to the business by a way of shares held in the company.

So, when company runs into debt, the shareholders would not be required to make up such debts from their private pockets,therefore, the investment of Harry and Meghan are secure.

Hence, the only way for Harry and Meghan to avoid liability risk is to form a corporation

Therefore, the Option D is correct.

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Coast to Coast Surfboards Inc. manufactures and sells two styles of surfboards, Atlantic Wave and Pacific Pounder. These surfboards are sold in two regions, East Coast and West Coast. Information about the two surfboards is as follows:
Atlantic Wave Pacific Pounder
Sales price $280 $130
Variable cost of goods sold per unit 220 97
Manufacturing margin per unit $60 $33
Variable selling expense per unit 32 18
Contribution margin per unit $28 $15
The sales unit volume for the sales territories and products for the period is as follows:
East Coast West Coast
Atlantic Wave 30,000 21,000
Pacific Pounder 0 21,000
Required:
Prepare a contribution margin by sales territory report. Calculate the contribution margin ratio for each territory as a whole percent

Answers

Answer:

Contribution margin ratio:

For East Coast = 10%

For West Coast = 8.05%

Explanation:

As per the data given in the question,

Contribution margin by sales territory report :

C C S Inc.

Contribution margin by Territory

Particulars                             East Coast                     West Coast

Sales (a)                                $8,400,000                     $8,610,000

(30,000×$280)+(0×$130)

(21,000×$280)+(21,000×$130)

Less: variable cost of goods sold(b) $6,600,000      $6,657,000

(30,000×$220)+(0×$97)

(21,000×$220)+(21,000×$97)

Manufacturing margin (c=a-b) $1,800,000                  $1,953,000

Less: Variable selling expense (d) $960,000             $1,260,000

(30,000×$32)+(0×$28)

(21,000×$32)+(21,000×$28)

Contribution margin (e=c-d)        $840,000                 $693,000

For East Coast:

Contribution margin ratio = (Contribution margin ÷ Sales revenue)×100

=($840,000÷ $8,400,000)×100

= 10%

For west coast:

Contribution margin ratio = (Contribution margin ÷ Sales revenue)×100

=($693,000 ÷ $8,610,000)×100

= 8.05%

Dan Bumblauskas is the owner of a small Iowa company that produces electric knives used to cut fabric. The annual demand is for 10 comma 500 ​knives, and Dan produces the knives in batches. On​ average, Dan can produce 190 knives per​ day; during the production​ process, demand has been about 70 knives per day. The cost to set up the production process is ​$85​, and it costs Dan ​$1.10 to carry a knife for 1 year. How many knives should Dan produce in each​ batch?

Answers

Answer:

1,012.36 knives produced in each month

Explanation:

Data provided in the question

Annual demand = 10,500

Ordering cost = $85

Holding cost = $1.10

Daily demand = 70 knives per day

Production knives per day = 190 knives

Based on the given information, we need to apply the formula which is shown below:[tex]Economic\ order\ quantity = \sqrt{\frac{2\times annual\ demand \times ordering\ cost}{holding\ cost} \times 1 - \frac{daily\ demand}{production}[/tex]

[tex]Economic\ order\ quantity = \sqrt{\frac{2\times 10,500 \times\$85}{\$1.10} \times 1 - \frac{70}{190}[/tex]

= 1,012.36 knives produced in each month

We simply applied the above formula to find out the knives produced in each batch

g Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, 20Y1, Smiley issued $20,000,000 of five-year, 9% bonds at a market (effective) interest rate of 8%, receiving cash of $20,811,010. Interest is payable semiannually on April 1 and October 1. a. Journalize the entry to record the issuance of bonds on April 1, 20Y1. If an amount box does not require an entry, leave it blank. b. Journalize the entry to record the first interest payment on October 1, 20Y1, and amortization of bond premium for six months, using the straight-line method. If an amount box does not require an entry, leave it blank. c. Why was the company able to issue the bonds for $20,811,010 rather than for the face amount of $20,000,000? The market rate of interest is the contract rate of interest.

Answers

Answer:

Explanation:

a

Cash 20811010

Bonds payable 20000000

Premium on Bonds payable 811010

b

Interest expense 818899

Premium on Bonds payable 81101 =811010/5*6/12

Cash 900000 =20000000*9%*6/12

c

The market rate of interest will be lower than the contract rate of interest.

The following information will be used for 2 questions on this exam: Charlotte Corporation's management keeps track of the time it takes to process orders. During the most recent month, the following average times were recorded per order: Time spent between receipt of order and start of production 3.7 days Time spent ensuring quality levels 0.2 days Time spent working on the product 1.3 days Time spent transporting the product between work stations 0.8 days Time spent waiting to be worked on in the factory 6.9 days What is the throughput time?

Answers

Answer:

6.00 days

Explanation:

data provided

Inspection time = 3.7 days

Process time = 0.2 days

Move time = 1.3 days

Queue time = 0.8 days

The calculation of throughput time is given below:-

Throughput time = Inspection time + Process time + Move time + Queue time

= 3.7 days + 0.2 days + 1.3 days + 0.8 days

= 6.00 days

Here, we added the inspection time, process time , move time and queue time to reach at throughput time and we ignore the time spent waiting to be worked on in the factory as it is not relevant.

The following present value factors are provided for use in this problem. Periods Present Value of $1 at 8% Present Value of an Annuity of $1 at 8% 1 0.9259 0.9259 2 0.8573 1.7833 3 0.7938 2.5771 4 0.7350 3.3121 Xavier Co. wants to purchase a machine for $36,300 with a four year life and a $1,200 salvage value. Xavier requires an 8% return on investment. The expected year-end net cash flows are $11,300 in each of the four years. What is the machine's net present value

Answers

Answer:

$2007.6

Explanation:

According to the scenario, computation of the given data are as follow:-

4th Year Cash Flow = Salvage Value + Expected End Year Net Cash Flow

= $1,200 + $11,300

= $12,500

Year  Cash flow ($) PVF at 8%  Present value ($)

0              36,300 1.000          -36,300

1              11,300         0.9259           10462.67

2               11,300 0.8573            9687.49

3               11,300 0.7938            8969.94

4               12,500 0.7350            9187.5

 Net present value                   2007.6

According to the analysis, net present value of machine is $2007.6

The corporate charter of Andromeda Co. authorized the issuance of 21 million, $1 par common shares. During 2021, its first year of operations, Andromeda had the following transactions: January 1 sold 6 million shares at $26 per share June 3 purchased 13 million shares of treasury stock at $29 per share December 28 sold the 4 million shares of treasury stock at $31 per share What amount should Andromeda report as additional paid-in capital in its December 31, 2021, balance sheet

Answers

Answer:

$158 million

Explanation:

The computation of total additional paid in capital is shown below:-

Paid in capital in excess of par value-Common Stock = ($26 - 1) × 6 million

= 25 × 6 million

= $150 million

Paid in capital from sale of treasury Stock = ($31 - $29) × 4 million

= $8 million

Total additional paid in capital = Paid in capital in excess of par value-Common Stock + Paid in capital from sale of treasury Stock

= $150 million + $8 million

= $158 million

So, for computing the total additional paid in capital we simply applied the above formula.

Todd is working on resource scheduling in preparation for the start of a project. There is a potential problem in the works, however, as the new collective bargaining agreement with the company's union has not been concluded. Todd decides to continue working on the resource schedule in anticipation of a satisfactory settlement. Todd's approach would be an example of which method of dealing with risk

Answers

Answer:

Accept it.(Risk).

Explanation:

This is commonly known also as risk retention which is been encountered in business or investments. Many businesses use risk management techniques to identify, assess and prioritize risks for the purpose of minimizing, monitoring, and controlling said risks.

Most businesses and risk management personnel will find that they have greater and more numerous risks than they can manage, mitigate, or avoid given the resources they are allocated. As such, businesses must find a balance between the potential costs of an issue resulting from a known risk and the expense involved in avoiding or otherwise dealing with it. Types of risks include uncertainty in financial markets, project failures, legal liabilities, credit risk, accidents, natural causes and disasters, and overly aggressive competition.

Decision on Accepting Additional Business Homestead Jeans Co. has an annual plant capacity of 65,000 units, and current production is 45,000 units. Monthly fixed costs are $54,000, and variable costs are $29 per unit. The present selling price is $42 per unit. On November 12 of the current year, the company received an offer from Dawkins Company for 18,000 units of the product at $32 each. Dawkins Company will market the units in a foreign country under its own brand name. The additional business is not expected to affect the domestic selling price or quantity of sales of Homestead Jeans Co. a. Prepare a differential analysis dated November 12 on whether to reject (Alternative 1) or accept (Alternative 2) the Dawkins order. If an amount is zero, enter "0". If required, use a minus sign to indicate a loss.

Answers

Answer and Explanation:

The preparation of the differential analysis is presented below:

Particulars  Order rejected (Alternative 1) order accepted  (Alternative 2) Differential Effect on Income (Alternative 2)

Revenues         $0                                              $576,000     $576,000

                                                                       ($18,000 × $32)

Costs    

Variable Manufacturing Costs $0                   $522,000 -$522,000

                                                                       ($18,000 × $29)

Income (Loss)        $0                                            $54,000    $54,000

We simply deduct the variable manufacturing cost from the revenues so that the income or loss could come

Thunder Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cash equivalents $ 28 $ 31 Accounts receivable 60 65 Inventory 41 42 Property, plant, and equipment 454 380 Less accumulated depreciation 206 172 Total assets $ 377 $ 346 Liabilities and stockholders' equity: Accounts payable $ 43 $ 45 Bonds payable 190 260 Common stock 41 40 Retained earnings 103 1 Total liabilities and stockholders' equity $ 377 $ 346 Income Statement Sales $ 874 Cost of goods sold 533 Gross margin 341 Selling and administrative expense 161 Net operating income 180 Income taxes 54 Net income $ 126 The company did not dispose of any property, plant, and equipment, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $24. Required: Prepare a statement of cash flows in good form using the indirect method.

Answers

Answer and Explanation:

The preparation of the cash flow statement is presented below:        

                                Thunder Corporation's

                                  Cash flow statement

Cash flow from operating activities

Net operating income $180

Adjustment made

Add: Depreciation expenses $34  ($206 - $172)

Add: Decrease in account receivable $5 ($60 - $65)

Add: Decrease in inventory $1 ($41 - $42)

Less: Decrease in account payable $2 ($43 - $45)

Net cash provided by operating activities  $164

Cash flow from investing activities  

Purchase of Property, plant, and equipment -$74 ($454 - $380)

Net cash used by investing activities -$74

Cash flow from financing activities

Repayment of bond payable -$70 ($190 - $260)

Issuance of the common stock $1 ($41 - $40)

Dividend paid -$24

Net cash used by financing activities -$93

Decrease in cash -$3

Add: Beginning cash balance $31

Ending cash balance $28

The items which displayed in a positive sign indicates the cash inflow and the items which displayed in a negative sign indicates the cash outflow

Anderson Steel Company began 2018 with 550,000 shares of common stock outstanding. On March 31, 2018, 140,000 new shares were sold at a price of $50 per share. The market price has risen steadily since that time to a high of $55 per share at December 31. No other changes in shares occurred during 2018, and no securities are outstanding that can become common stock. However, there are two agreements with officers of the company for future issuance of common stock. Both agreements relate to compensation arrangements reached in 2017. The first agreement grants to the company president a right to 42,000 shares of stock each year the closing market price is at least $53. The agreement begins in 2019 and expires in 2022. The second agreement grants to the controller a right to 47,000 shares of stock if she is still with the firm at the end of 2026. Net income for 2018 was $5,200,000.
Required:
Compute Anderson Steel Company's basic and diluted EPS for the year ended December 31, 2018. (Enter your answers in thousands.)

Answers

Answer:

EPS = $7.94

diluted EPS = $7.94, since there are no diluted shares in 2018

Explanation:

January 2018 = 550,000 common stocks

March 31 = 140,000 new shares issued = 105,000 weighted stocks

net income = $5,200,000

EPS = net income / weighted common stocks = $5,200,000 / (550,000 + 105,000) = $5,200,000 / 655,000 stocks = $7.939 ≈ $7.94 per stock

there are no diluted shares since the agreement with the president of the board starts in 2019, and we are calculating the EPS for 2018. The same applies to the controller, since her agreement starts in 2026.

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