Answer:
a. Total number of budgeted direct labor hours for the year = Direct labor hours for night lights + Direct labor hours for desk lamps
= 30,000*1/2 + 40,000*2
= 15,000 + 80,000
= 95,000 hours
b. Single plant-wide factory overhead rate using direct labor hours = Budgeted factory overhead / Budgeted factory hours
= $403,750 / 95,000 hours
= $4.25 per hour
c. Per unit factory overhead = Number of hours required to complete one unit * Factory overhead rate per hour
Night light
Per unit factory overhead = 0.5 * 4.25
Per unit factory overhead = $2.125 per unit
Desk lamp
Per unit factory overhead = 2 * 4.25
Per unit factory overhead = $8.50 per unit
A debit: Multiple Choice Always decreases an account. Is the left-hand side of a T-account. Is the right-hand side of a T-account. Is not needed to record a transaction. Always increases an account.
A debit side is the left-hand side of a T-account according to the Ledger's book of account.
The left side of the Account is always the debit side and the right side is always the credit side irrespective of what account is. Debit side represents money being paid out of a particular account. In the Ledger is a book of account, in which all types of accounts relating to assets liabilities, capital, expenses and revenues and maintained. it is a complete set of account of business enterprise.
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Do government statisticians calculate GDP by simply adding up the total sales of all business firms in one year? Explain.
Answer:
No
Explanation:
No, because the gross domestic product is determined by encompassing the final product. If the total sales are used to determine the GDP then the false value of GDP will come up because the problem of double counting will arise. Many firms sell their goods to other firms which is intermediate goods for the other firms.
A severe freeze has damaged the Florida orange crop. The impact on the market for orange juice will be a leftward shift of
Group of answer choices.
A. the supply curve, resulting in a lower equilibrium price.
B. the supply curve, resulting in a higher equilibrium price.
C. the demand curve, as consumers try to economize because of the shortage.
D. the demand curve, resulting in a price ceiling in the market.
Answer:
B. the supply curve, resulting in a higher equilibrium price.
Explanation:
In this scenario, a severe freeze has damaged the Florida orange crop. Thus, the impact on the market for orange juice will be a leftward shift of the supply curve, resulting in a higher equilibrium price.
An equilibrium price can be defined as the price at which the quantity of goods demanded is equal to the quantity of goods supplied.
Additionally, the equilibrium price is generally said to be stable because at this price, the quantity of goods or services demanded is equal to the quantity of goods or services supplied to the consumers.
Leisure Enterprise’s total cost of producing speedboats is given by TC = 10 Q 3 – 4 Q 2 + 25 Q + 500. On the basis of this information, the marginal cost of producing the 25th speedboat is:
Answer:
The marginal cost of producing the 25th speedboat is 18,575.
Explanation:
Note that the given Leisure Enterprise’s total cost (TC) of producing speedboats is correctly stated as follows:
TC = 10Q^3 - 4Q^2 + 25^Q + 500 …….………….. (1)
Where Q represents the quantity of speedboats produced.
To obtain the marginal cost (MC) of producing speedboats, equation (1) is differentiated with respect to Q as follows:
MC = dTC/dQ = 30Q^2 - 8Q + 25 ………………… (2)
Finding the marginal cost (MC) of producing the 25th speedboat implies that Q = 25.
Substituting Q = 25 into equation (2), we have:
MC = (30 * 25^2) - (8 * 25) + 25 = 18,575
Therefore, the marginal cost of producing the 25th speedboat is 18,575.
Changes in financial reporting methods unquestionably will alter the resulting measures of financial positions reported in financial statements.
a. True
b. False
Answer:
a
Explanation:
If the subtotal of the income statement debit column is $250,000, the subtotal of the income statement credit column is $300,000, and the total of the Statement of Retained Earnings debit column is $475,000, what is the beginning balance in Retained Earnings
Answer:
$425,000
Explanation:
Calculation to determine the beginning balance in Retained Earnings
First step is to prepare the Income Statement
Revenues $300,000
Less Expenses ($250,000)
Profit $50,000
Now let calculate the beginning balance in Retained Earnings
Using this formula
Beginning balance in Retained Earnings= Statement of Retained Earnings debit column -Income Statement Profit
Let plug in the formula
Beginning balance in Retained Earnings=$475,000-$50,000
Beginning balance in Retained Earnings=$425,000
Therefore the beginning balance in Retained Earnings is $425,000
The following units of a particular item were available for sale during the calendar year:
Jan. 1 Inventory 4,000 units at $40
Apr. 19 Sale 2,500 units
June 30 Purchase 4,500 units at $44
Sept. 2 Sale 5,000 units
Nov. 15 Purchase 2,000 units at $46
The firm maintains a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale, assuming the last-in, first-out method.
Answer:
The cost of goods sold for eachs ale and the inventory balance after each sale, assuming the LIFO (last-in, first-out) method:
Cost of goods sold Ending Inventory
Apr. 19 Sale $100,000 $60,000
Sept. 2 Sale $218,000 $40,000
Explanation:
a) Data and Calculations:
Date Description Units Unit Cost Total Balance
Jan. 1 Inventory 4,000 $40 $160,000
Apr. 19 Sale (2,500) (100,000) $60,000
June 30 Purchase 4,500 $44 198,000 258,000
Sept. 2 Sale (5,000) (218,000) 40,000
Nov. 15 Purchase 2,000 $46 92,000 132,000
Cost of goods sold: Ending Inventory
April 19: = 2,500 * $40 = $100,000 = 1,500 * $40 = $60,000
Sept 2: = 4,500 * $44 + 500 * $40 = 1,000 * $40 = $40,000
= $198,000 + $20,000
= $218,000
At an activity level of 9,300 machine-hours in a month, Curt Corporation's total variable production engineering cost is $766,320 and its total fixed production engineering cost is $191,040. What would be the total production engineering cost per machine-hour, both fixed and variable, at an activity level of 9,600 machine-hours in a month
Answer:
$102.3 per machine hour
Explanation:
We can compute the total production engineering cost per hour by using the following equation;
Cost per machine hour = (Fixed cost + Variable cost) / Total machine hours
But first, we need to calculate variable cost at 9,600 hours;
= $766,320 × 9,600hr / 9,300hr
= $791,040
Now, cost per machine hour
= $191,040 + $791,040 / 9,600hr
= $982,040 / 9,600hr
= $102.3 per machine hour
Why is it important to eliminate debt as soon as possible?
Alpha Moose Transporters has a current stock price of $33.35 per share, and is expected to pay a per-share dividend of $1.36 at the end of next year. The company’s earnings’ and dividends’ growth rate are expected to grow at the constant rate of 8.70% into the foreseeable future. If Alpha Moose expects to incur flotation costs of 5.00% 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:
Alpha Moose Transporters
If Alpha Moose expects to incur flotation costs of 5.00% 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:
= $30.84.
Explanation:
a) Data and Calculations:
Current stock price = $33.35 per share
Dividend per share = $1.36
Flotation costs = 5.00%
Flotation-adjusted stock price = $31.68 ($33.35 * 0.95)
Expected dividend growth rate = 8.70%
Expected rate of returns = 4.29% ($1.36/$31.68 * 100)
Cost of new common stock = Dividend per share/(Expected rate of returns - Dividend growth rate)
= $1.36/(0.0429 - 0.087)
= $1.36/0.0441
= $30.84
what the modern era quantiteve approach manegmet
Answer:
The quantitative approach to management makes some suggestions to solve different problems facing the managers. It tells the managers to solve their problems with the help of the mathematical and statistical formulas. Some special formulas have been prepared to solve managerial problems.
Explanation:
Wholesome Burger, Inc. budgeted 25,000 direct labor hours for producing 100,000 units. The standard direct labor rate is $6 per hour. During March, the company used 30,000 hours for producing 80,000 units and paid $6.25 per hour. Calculate the direct labor rate variance.
Answer:
See below
Explanation:
Given the above information, we will apply the formula below to compute direct labor rate variance.
Direct labor rate variance =
(SR - AR) × AH
Stanadard (Rate) SR = $6
Actual Hour (AR) = $6.25
Actual Hour (AH) = 30,000
Then,
Direct labor rate variance
= ($6 - $6.25) × 30,000
= -$0.25 × 30,000
= -$7,500
= $30,000 Unfavorable
It is unfavourable because the actual rate is more than the budgeted rate.
You want to take out a $125,000 mortgage. The interest rate on the mortgage is 5%, and the loan is for 30 years. How much will your monthly payments be
Answer: $671.03
Explanation:
The monthly payment will be an annuity because it will be constant. The loan amount will be the present value of the loan.
Periodic interest rate of loan = 5%/12 = 5/12%
Loan period = 30 * 12 months = 360 months
Present value of annuity = Annuity * ( 1 - ( 1 + rate) ^ -number of periods) / rate
125,000 = Annuity * ( 1 - ( 1 + 5/12%)⁻³⁶⁰) / 5/12%
125,000 = Annuity * 186.2816170
Annuity = 125,000 / 186.2816170
= $671.03
Answer:
Answer on the picture
Explanation:
Why are businesses using LinkedIn automation for lead generation?
Answer:
A few years back, LinkedIn automation raised eyebrows among the business community. Many embraced it and started taking advantage of it while many others hesitated thinking that it’s spammy.
In recent years, there has been a dramatic shift in the marketing landscape and businesses are using automation to streamline their workflows. Almost 40% of the small and large businesses have already included automation into their workflows one way or the other.
Finley Company
End-of-Period Spreadsheet
For the Year Ended December 31
Adjusted Trial Balance Income Statement Balance Sheet
Account Title Debit Credit Debit Credit Debit Credit
Cash 48,000 48,000
Accounts
Receivable 18,000 18,000
Supplies 6,000 6,000
Equipment 57,000 57,000
Accumulated Depreciation 18,000 18,000
Accounts Payable 25,000 25,000
Wages Payable 6,000 6,000
Common Stock 30,000 30,000
Retained Earnings 3,000 3,000
Dividends 3,000 3,000
Fees Earned 155,000 155,000
Wages Expense 63,000 63,000
Rent Expense 27,000 27,000
Depreciation
Expense 15,000 15,000
Totals 237,000 237,000 105,000 155,000 132,000 82,000
Net Income (Loss) 50,000 50,000
155,000 155,000 132,000 132,000
The entry to close Dividends would be:_____.
a. debit Retained Earnings, $3,000; credit Common Stock, $3,000.
b. debit Common Stock, $3,000; credit Retained Earnings, $3,000.
c. debit Dividends, $3,000; credit Retained Earnings, $3,000.
d. debit Retained Earnings, $3,000; credit Dividends, $3,000.
Answer:
d. debit Retained Earnings, $3,000; credit Dividends, $3,000.
Explanation:
The journal entry to close the dividend account should be
Retained earnings Dr $3,000
To Dividend $3,000
(being the closing of the dividend account is recorded)
here the retained earning is debited as it decreased the stockholder equity and dividend is credited as it is closed
If a property will produce net cash flow that grows at a rate of 1.5% per year in perpetuity, and the opportunity cost of capital is 12%, then what is the "cap rate" (net cash flow / property value) for the property?
(a) 8%.
(b) 10%.
(c) 10.5%.
(d) 12%.
Answer:
(c) 10.5%.
Explanation:
Calculation to determine what is the "cap rate
Using this formula
x 1/r-g
Let plug in the formula
1/12-1.5
Andy Manufacturing produces a single product that sells for $80. Variable costs per unit equal $40. The company expects total fixed costs to be $82,000 for the next month at the projected sales level of 2,700 units. Attempting to improve performance, management is considering several alternative actions. Each situation is to be evaluated separately. Suppose that management believes that an 11% reduction in the selling price will result in an 11% increase in unit sales. If this proposed reduction in selling price is implemented: (Do not round intermediary calculations, and round the final answer to the nearest whole number.)
Answer:
The correct option is A) operating income will decrease by $14,494.
Explanation:
Note: This question is not complete as the options are omitted. The options are therefore provided to complete the question before answering the question as follows:
A) operating income will decrease by $14,494
B) operating income will increase by $9,266
C) operating income will decrease by $23,760
D) operating income will increase by $14,494
The explanation of the answer is now provided as follows:
Note: See the attached excel file for the Determination of Operating Income BEFORE and AFTER the 11% reduction in the selling price using Contribution Format Income Statement.
From the attached excel file, we have:
Operating Income BEFORE 11% reduction in selling price = $26,00
Operating Income AFTER 11% reduction in selling price = $11,506
Decrease in operating income = Operating Income BEFORE 11% reduction in selling price - Operating Income AFTER 11% reduction in selling price = $26,00 - $11,506 = $14,494
Therefore, the correct option is A) operating income will decrease by $14,494.
which one between vodacom and mtn can be considered as price leader in south africa ?
Explanation:
Vodacom, it's one of the most popular everywhere
NBS Co. is considering a project that has the following cash flow and cost of capital (r) data. What is the project's MIRR
Answer:
13.50%
Explanation:
Please find attached an image showing r and the cash flows
MIRR = (Future value of a firm's cash inflow / present value of the firm's cash outflow)^ (1/n) - 1
n = number of years
present value of the firm's cash outflow = $800
Future value of a firm's cash inflow
Future value of year 1's cash flow = 350 x (1.11^2) = $431.24
Future value of year 2's cash flow = 350 x (1.11^1) = $388.50
Future value of year 3's cash flow = $350
Add the future values together = 1169.74
MIRR = [(1169.74 / 800)^(1/3)] - 1 = 0.1350 = 13.50%
What is my level of education if I just finished 10th grade?
11th grade because that's the grade above
Dake Corporation's relevant range of activity is 3,500 units to 8,500 units. When it produces and sells 6,000 units, its average costs per unit are as follows: For financial reporting purposes, the total amount of product costs incurred to make 6,000 units is closest to:
Answer:
$89,100
Explanation:
Direct material = $6.6
Direct labor = $3.6
Variable manufacturing overheads = $1.35
Fixed manufacturing overheads = $3.3
Total production cost per unit = $6.6 + $3.6 + $1.35 + $3.3
Total production cost per unit = $14.85
Total amount of product cost incurred for 6000 unit:
= $14.85 * 6,000 units
= $89,100
As a researcher, what would you do if you set to reject the null and found the null to be true?
In the event that the null hypothesis was true, I would report my results honestly and transparently. If my results did not support my expectations, my goal as a researcher would be to learn as much as possible from them.
The first thing I would do is to make my data and my statistical analysis error-free. If my results were influenced by outliers or other unusual patterns in the data, I would check for them. I would recheck the statistical methods I used to ensure that they were appropriate and correct for the type of data I collected.
Once I was confident that my data and analysis were correct, I would consider whether there were any other explanations for the null hypothesis.
Therefore, In the event that the null hypothesis was true, I would report my results honestly and transparently.
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Which of the following is part of the generally accepted account of the 1822 conspiracy led by Denmark Vesey?A. His lieutenant was named Cinque. B. Vesey and his followers killed or maimed 37 whites. C. Vesey studied the Magna Carta and quoted the Farmer's Almanac.D. Vesey had purchased his freedom after winning the lottery.
Answer: D. Vesey had purchased his freedom after winning the lottery.
Explanation:
Denmark Vasey was a African American leader in the early 19th century who was born into slavery but was able to buy his freedom when he won a lottery.
In 1822, he was accused of a conspiracy to organize a slavery revolt that would have seen thousands of African Americans killing slave owners in South Carolina and then sailing to Haiti. They had him executed at the age of 55 for this alleged crime.
What is the change in net income if fixed cost of $20,000 can be avoided and Frannie could rent out the factory space no longer in use for $20,000?
Answer:
Note The full question is attached as picture below
1). Purchasing cost = 10,000* $18
Purchasing cost = $180,000
Making cost = Direct material + Direct labor + Variable overhead
Making cost = $65,000 + $55,000 + $30,000
Making cost = $150,000
Difference in cost (Per unit) = ($180,000-$150,000) / 10,000\
Difference in cost (Per unit) = $3
Change in net income = $180,000 - $150,000
Change in net income = $30,000 (Decrease)
2. Purchasing cost = 10,000*$18
Purchasing cost = $180,000
Making cost = Direct material + Direct labour + Variable overhead + Fixed overhead
Making cost = $65,000 + $55,000 + $30,000 + $20,000
Making cost = $170,000
Difference in cost (per unit) = ($180,000 - $170,000) / 10,000
Difference in cost (per unit) = $1
Change in net income (decrease) = $170,000 - $180,000
Change in net income (decrease) = $10,000
3. Purchasing cost = $180,000 - $20,000
Purchasing cost = $160,000
Making cost = Direct material + Direct labour + Variable overhead + Fixed overhead
Making cost = $65,000 + $55,000 + $30,000 + $20,000
Making cost = $170,000
Change in net income = $170,000 - $160,000
Change in net income = $10,000 (increase)
A buyer has decided to offer $335,000 for a home that she really likes. The bank will loan her 80% of the purchase price for 30 years at 5% interest. What will be the amount of her principal and interest payment if the requirement is $5.68 per thousand of the loan amount?
Answer:
We have:
Amount of principal = $268,000
Interest payment = $1,522.24
Explanation:
These can be calculated as follows:
Loan principal = Cost of the home * Percentage to borrow = $335,000 * 80% = $268,000
Interest payment = (Loan principal / $1,000) * $5.68 = ($268,000 / $1,000) * $5.68 = 268 * $5.68 = $1,522.24
Therefore, we have:
Amount of principal = $268,000
Interest payment = $1,522.24
During its first year of operations a company recorded accrued expenses totaling $375,000 for book purposes. For tax purposes, $175,000 of the expenses are deductible during the first year of operations and $200,000 are deductible during the second year of operations. The enacted income tax rate was 21% during the first year of operations and 25% during the second year of operations. The balance sheet at the end of the first year of operations will report a deferred tax:
Answer:
$50,000
Explanation:
Optiins includes "asset of $42,000. liability of $42,000. liability of $50,000. asset of $50,000."
Deferred tax assets = Future deductible amount * Tax rate of future year
Deferred tax assets = $200,000* 25%
Deferred tax assets = $50,000
So, the balance sheet at the end of the first year of operations will report a deferred tax of $50,000
Cliff Company traded in an old truck for a new one. The old truck had a cost of $290,000 and accumulated depreciation of $87,000. The new truck had an invoice price of $293,000. Huffington was given a $200,000 trade-in allowance on the old truck, which meant they paid $93,000 in addition to the old truck to acquire the new truck. If this transaction has commercial substance, what is the recorded value of the new truck
Answer:
203,000
Explanation:
Is the answer to this question
Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month for the two games appears below: Claimjumper Makeover Total Sales $ 110,000 $ 55,000 $ 165,000 Variable expenses 27,400 5,600 33,000 Contribution margin $ 82,600 $ 49,400 132,000 Fixed expenses 93,840 Net operating income $ 38,160 Required: 1. What is the overall contribution margin (CM) ratio for the company? 2. What is the company's overall break-even point in dollar sales? 3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.
Answer:
1. Overall contribution margin ratio for the company = 80%
2. Company's overall breakeven point in dollar sales = $117,300
3. Net operating income = $0
Explanation:
1. What is the overall contribution margin (CM) ratio for the company?
Overall contribution margin ratio for the company = (Total contribution margin / Total sales) * 100 = ($132,000 / $165,000) * 100 = 80%
2. What is the company's overall break-even point in dollar sales?
Company's overall breakeven point in dollar sales = Fixed cost / Contribution margin ratio = $93,840 / 80% = $117,300
3. Prepare a contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.
Note: See Part 3 of the attached excel file for the contribution format income statement at the company's break-even point that shows the appropriate levels of sales for the two products.
From the Part 3 of the attached excel file, we have:
Net operating income = $0
The following revenue and expense account balances were taken from the ledger of Acorn Health Services Co. after the accounts had been adjusted on January 31, 20Y7, the end of the fiscal year:
Depreciation Expense $10,000
Insurance Expense 9,000
Miscellaneous Expense 8,150
Rent Expense 60,000
Service Revenue 634,900
Supplies Expense 4,100
Utilities Expense 44,700
Wages Expense 548,200
Requierd:
Prepare an income statement.
Answer and Explanation:
The preparation of the income statement is presented below:
Service revenue $634,900
Less:
Depreciation Expense $10,000
Insurance Expense 9,000
Miscellaneous Expense 8,150
Rent Expense 60,000
Supplies Expense 4,100
Utilities Expense 44,700
Wages Expense 548,200
Net loss -$49,250
Linda believes that employees can view work as being as natural as rest or play, and therefore the average person can learn to accept, and even seek, responsibility. Linda's belief is best described by ______________.
Answer: Theory Y
Explanation:
Douglas McGregor came up with this theory of labor motivation that proposes that people are motivated internally to work hard and so need little push to actually work.
They are like this because they have come to view work as being a natural occurrence just like rest or play. Because it is now natural to them, they are able to learn to accept and even seek responsibility. Managers prefer such workers.
