Wember Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $400 per month plus $90 per job plus $10 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in September to be 15 jobs and 145 meals, but the actual activity was 11 jobs and 142 meals. The actual cost for catering supplies in September was $2,710. The catering supplies in the planning budget for September would be closest to:

Answers

Answer 1

Answer:

The catering supplies in the planning budget for September would be closest to $3,200

Explanation:

In order to calculate the the catering supplies in the planning budget for September we would have to use the following formula:

catering supplies in the planning budget=The cost formula for catering supplies+cost per job×number of jobs+cost per meal×number of meals

catering supplies in the planning budget=($400+$90*15+145*$10) = $3,200

The catering supplies in the planning budget for September would be closest to $3,200


Related Questions

Mobility Partners makes wheelchairs and other assistive devices. For years it has made the rear wheel assembly for its wheelchairs. A local bicycle manufacturing firm, Trailblazers, Inc., offered to sell these rear wheel assemblies to Mobility. If Mobility makes the assembly, its cost per rear wheel assembly is as follows (based on annual production of 2,000 units): Direct materials $ 26 Direct labor 53 Variable overhead 21 Fixed overhead 49 Total $ 149 Trailblazers has offered to sell the assembly to Mobility for $110 each. The total order would amount to 2,000 rear wheel assemblies per year, which Mobility's management will buy instead of make if Mobility can save at least $20,000 per year. Accepting Trailblazers's offer would eliminate annual fixed overhead of $38,500. Required: a. Prepare a schedule that shows the total differential costs. (Select option "higher" or "lower", keeping Status Quo as the base. Select "none" if there is no effect.)

Answers

Answer and Explanation:

The preparation of the  total differential cost schedule is presented below

                     Schedule showing statement of total differential cost

Particulars Make the wheels Buy from trailblazers Differential cost

Offer of trailblazer                        $220,000             $220,000 Higher

                                                      (2000 × $110)

Material cost     $52,000                                          $52,000 Lower

                       ($26 × 2000)

Labor cost       $106,000                                            $106,000 Lower

                        ($53 × 2000)

Variable overhead   $42000                                    $42,000 Lower

                          ($21 × 2000)

Fixed overhead  $98000                 $59,500        $38,500     Lower

                       ($49 × 2000)            ($98,000 -$38,500)

Total cost $298,000      $279,500             ($18,500) Lower

By adding the total cost we can get the making cost, buying cost and differential cost

Which of the following are considered to be benefits of international trade? Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click the option twice to empty the box. Higher prices for domestic firms in industries with the highest level of imports unanswered More jobs in industries with a significant number of imports unanswered The ability to purchase goods produced abroad at lower prices than the domestic good unanswered Access to new resources that are not available domestically unanswered The ability to purchase new products that are not produced domestically

Answers

Answer:

1. Access to new resources that are not available domestically.

2. The ability to purchase new products that are not produced domestically.

3. The ability to purchase goods produced abroad at lower prices than the domestic good.

Explanation:

International trade involves the economic exchange or transactions of capital, goods and services between countries, mainly over international boundaries as a result of want or need by the consumers.

Examples of such goods are crude oil, clothing, electronic gadgets etc.

International trade can be classified into three categories namely;

- Import trade.

- Export trade.

- Entrepot trade.

The International Trade Organization now known as the World Trade Organization which was founded in 1994 is focused on efficiently lowering the cost of alternatives, creating access to resources and increased diversity of choice for consumers.

Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 2.50 ounces $ 22.00 per ounce $ 55.00 Direct labor 0.90 hours $ 16.00 per hour 14.40 Variable manufacturing overhead 0.90 hours $ 2.00 per hour 1.80 Total standard cost per unit $ 71.20 During November, the following activity was recorded related to the production of Fludex: Materials purchased, 14,000 ounces at a cost of $289,800. There was no beginning inventory of materials; however, at the end of the month, 4,050 ounces of material remained in ending inventory. The company employs 26 lab technicians to work on the production of Fludex. During November, they each worked an average of 150 hours at an average pay rate of $15.00 per hour. Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs during November totaled $5,000. During November, the company produced 3,900 units of Fludex. Required: 1. For direct materials: a. Compute the price and quantity variances. b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract

Answers

Answer and Explanation:

a. The computation is shown below:

Material price variance

= Actual Quantity × (Standard Price - Actual Price)

= 14,000 × ($22 - $289,800 ÷ 14,000)

= 14,000 × ($22 - $20.70)

= 14,000 × $1.30

= $18,200 favorable

Material quantity variance

= Standard Price × (Standard Quantity - Actual Quantity)

= $22 × (3,900 units × 2.5 - 14,000 ounces - 4,050 ounces)

= $22 × (9,750 - 9,950)

= $22 × 200

= $4,400 unfavorable

b. Yes the contract should be signed as it is the actual price i.e $20.70 is less than the standard price $22

Grey Inc. has been purchasing a component, Z for $85 a unit. The company is currently operating at 75% of full capacity, and no significant increase in production is anticipated in the near future. The cost of manufacturing a unit of Z, determined by absorption costing method, is estimated as follows: Direct materials $30 Direct labor 15 Variable factory overhead 26 Fixed factory overhead 10 Total $81 Prepare a differential analysis report, dated March 12 of the current year, on the decision to make or buy Part Z.

Answers

Answer:

The difference between buying and making is $14 per unit. It is $14 cheaper to make the unit.

Explanation:

Giving the following information:

Purchasing price= $85 a unit.

Variable cost per unit:

Direct materials $30

Direct labor 15

Variable factory overhead 26

Because there is unused capacity, the fixed costs won't increase. Fixed factory overhead should not be taken into account.

Total unitary variable cost= $71

The difference between buying and making is $14 per unit. It is $14 cheaper to make the unit.

Whitmer Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.07 direct labor-hours. The direct labor rate is $9.00 per direct labor-hour. The production budget calls for producing 4,200 units in February and 4,700 units in March. Required: Prepare the direct labor budget for the next two months, assuming that the direct labor work force is fully adjusted to the total direct labor-hours needed each month. (Round "labor-hours per unit"

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Each unit of output requires 0.07 direct labor-hours. The direct labor rate is $9.00 per direct labor-hour. The production budget calls for producing 4,200 units in February and 4,700 units in March.

Direct labor budget of February:

Direct labor hours= 4,200*0.07= 294

Direct labor cost= 294*9= $2,646

Direct labor budget of March:

Direct labor hours= 4,700*0.07= 329

Direct labor cost= 329*9= $2,961

Relative to the Sharpe ratio, the Sortino ratio will make a portfolio’s performance look more favorable if the portfolio has experienced: Group of answer choices fewer extreme negative returns relative to extreme positive returns. fewer extreme positive returns relative to extreme negative returns. an equal number of extreme positive and extreme negative returns. virtually no extreme negative or extreme positive returns.

Answers

Answer:

fewer extreme negative returns relative to extreme positive returns.                    

Explanation:

In simple words, The Sortino ratio relates to the variant of the Sharpe ratio which distinguishes negative variance against total combined variance by using the investment's confidence interval of unfavorable portfolio returns, named downside variance, rather than the total confidence interval of stock return.

The Sortino equation considers  the return of a security or property and removes the default free percentage and then splits that quantity by the drawback variance of the relative asset.                    


Select the correct answer from each drop-down menu,
Jack has to pay
tax to the government for his house. This type of tax is
tax


Answers

Answer:

C) property

A) direct tax

Explanation:

Medallion Cooling Systems, Inc., has total assets of $10,000,000, EBIT of $2,000,000, and preferred dividends of $200,000 and is taxed at a rate of 40%. In an effort to determine the optimal capital structure, the firm has assembled data on the cost of debt, the number of shares of common stock for various levels of indebtedness, and the overall required return on investment:,

a. Calculate earnings per share for each level of indebtedness.,

b. Use Equation 13.12 and the earnings per share calculated in part a to calculate a price per share for each level of indebtedness.,

c. Choose the optimal capital structure. Justify your choice

Answers

Answer:

Explanation:

The two attached pictures shows the explanation for this problem. I hope it help you. Thank you

Peggy sells pistachios and almonds at the farmer’s market. She currently prices pistachios at $7 per bag and almonds at $4 per bag. She observes that every hour, 4 people each buy one bag of pistachios and 2 people each buy one bag of almonds. Having surveyed them, she learns that 2 of the pistachio buyers would be willing to pay $2 for the bag of almonds while the other two would only be willing to pay $1. Both almond buyers would be willing pay $5 for the bag of pistachios. Suppose Peggy decides to sell a bundle containing one bag of pistachios and one bag of almonds in addition to selling them separately. What price should she charge for the bundle in order to maximize revenue?

Answers

Answer:

The price she should charge for the bundle in order to maximize profit is 9

Explanation:

Solution

The total pistachios sold = 7 * 2 =14

The total almonds sold is = 4*1 = 4

So,

The total of both pistachios and almonds = 14 + 4 + 18

Thus,

we solve for getting average of the two which is:

Getting the average of the two in the bundle = 18/2

=9

Therefore p =9

Merone Corporation applies manufacturing overhead to products on the basis of standard machine-hours. The company bases its predetermined overhead rate on 2,800 machine-hours. The company's total budgeted fixed manufacturing overhead is $7,560. In the most recent month, the total actual fixed manufacturing overhead was $6,640. The company actually worked 2,700 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 2,820 machine-hours. What was the overall fixed manufacturing overhead volume variance for the month? (Round your intermediate calculations to 2 decimal places.)

Answers

Answer:

Fixed Overhead Volume Variance $ 54 Favorable

Explanation:

Fixed Overhead Volume variance is the difference between the budgeted fixed overhead and applied fixed overhead.

Budgeted Fixed Overhead = $7,560

Applied Fixed Overhead = Standard Rate * Standard Hours

Standard Rate for Fixed Overhead = $7,560/2,800 = $ 2.7

Applied Fixed Overhead = $ 2.7*2,820= $ 7614

Fixed Overhead Volume Variance=Budgeted Fixed Overhead-Applied Fixed Overhead

Fixed Overhead Volume Variance= $7,560-$ 7614= $ 54 Favorable

If applied overhead is more than budgeted overhead it is favorable because it indicates that the budgeted overhead is within in the standard range.

he following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 30,000 shares authorized and 15,000 shares issued, 2,000 shares outstanding $150,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 35,000 Treasury stock 25,000 Assuming the treasury shares were all purchased at the same price, the number of shares of treasury stock is:

Answers

Answer:

13,000 shares

Explanation:

data provided for computing the number of shares of treasury stock is here below:-

Issued Share = 15,000

Outstanding Shares = 2,000

The computation of the number of shares of treasury stock is shown below:-

Number of shares of treasury stock = Issued Share - Outstanding Shares

= 15,000 - 2,000

= 13,000 shares

Therefore for computing the number of shares of treasury stock we simply deduct the outstanding share from issued shares.

Companies within the oneworld, Star, and Sky Team alliances have also engaged in major mergers and acquisitions (M&A): American and US Air (oneworld), Delta and Northwest (Sky Team), and Continental and United (Star). What are the advantages and disadvantages of M&A versus non-equity alliances in this industry? 15-4. Some airlines, such Daniels, John. International Business (p. 425). Pearson Education. Kindle Edition.

Answers

Answer:

Check the explanation

Explanation:

Merger and acquisition. It is a general terminology used to mention consolidation of firms merger that takes place when two businesses join together to form a new organization.

While Acquisition is the buying of one firm by another company.

The following are the benefits of merger and acquisition in the airlines industry:

• Executes economies of scale

• Help obtain coordination effect

• Competitors restriction

• Improved resources allocation

The following are the drawbacks of merger and acquisition in the airlines industry:

• Cultural mismatch among companies during merger

•Antitrust

• Placing risk of acquired workers  

The members of a wedding party have approached Imperial Jewelers about buying 26 of these gold bracelets for the discounted price of $367.00 each. The members of the wedding party would like special filigree applied to the bracelets that would require Imperial Jewelers to buy a special tool for $457 and that would increase the direct materials cost per bracelet by $7. The special tool would have no other use once the special order is completed. To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $8.00 of the overhead is variable with respect to the number of bracelets produced. The company also believes that accepting this order would have no effect on its ability to produce and sell jewelry to other customers. Furthermore, the company could fulfill the wedding party’s order using its existing manufacturing capacity.

Answers

Answer:

this special order will result in a $2,637 profit, so the company should accept it

Explanation:

special order for 26 gold bracelets

discounted price of $367 per unit

normal production costs:

direct materials $143direct labor $90manufacturing overhead $31total $264

costs related to the special order

increase in direct materials = $7 per unit, total of $150 per unit

direct labor $90 per unit

variable overhead = $8 per unit

machine used for this project only $457

revenue generated by special order:

total revenue                                    $9,542

- variable costs                                ($6,448)

direct materials $3,900direct labor $2,340variable overhead $208

- special machine                              ($457)  

profit from special order                  $2,637

Computer Service and Repair was started five years ago by two college roommates. The company’s comparative balance sheets and income statement are presented below, along with additional information. Current Year Prior Year Balance Sheet at December 31 Cash $ 6,765 $ 8,815 Accounts receivable 1,150 590 Prepaid expenses 550 95 Equipment 530 0 Accumulated depreciation (95 ) 0 $ 8,900 $ 9,500 Wages payable $ 440 $ 1,550 Short-term note payable 255 0 Common stock 2,800 2,800 Retained earnings 5,405 5,150 $ 8,900 $ 9,500 Income Statement for Current Year Service revenue $ 43,000 Depreciation expense 95 Salaries expense 34,500 Other expenses 8,150 Net income $ 255 Additional Data: a. Prepaid expenses relate to rent paid in advance. b. Other expenses were paid in cash. c. Purchased equipment for $530 cash at the beginning of the current year and recorded $95 of depreciation expense at the end of the current year. d. At the end of the current year, the company signed a short-term note payable to the bank for $255. Required: Prepare the statement of cash flows for the year ended December 31, current year, using the indirect method. (List cash outflows as negative amounts.)

Answers

Answer:

Explanation:

Cash Flow Statement For the year ended December 31, Current Year:

Particulars                                                     Amount

Cash Flow from Operating Activities  

Net income                                                                  255

Add: Non-cash Charges  

Depreciation expense                                                   95

Less: Increase in W.Capital  

Accounts receivable                                                -560

Prepaid expenses                                                        -455

Wages payable                                                        -1110

Short-term note payable                                         255

Net Cash used in Operating Activities                       -1520

Cash Flow from Investing Activities  

Purchase of equipment                                               -530

Net Cash used in Investing Activities  

Cash Flow from Investing Activities NIL

Net cash Used during the year                              -2050

Opening cash and cash equivalent                        8815

Closing cash and cash equivalent                       6765

The MoMi Corporation’s income before interest, depreciation and taxes, was $2.7 million in the year just ended, and it expects that this will grow by 5% per year forever. To make this happen, the firm will have to invest an amount equal to 15% of pre tax cash flow each year. The tax rate is 30%. Depreciation was $330,000 in the year just ended and is expected to grow at the same rate as the operating cash flow. The appropriate market capitalization rate for the unlevered cash flow is 12% per year, and the firm currently has debt of $5 million outstanding. Use the free cash flow approach to calculate the value of the firm and the firm’s equity. (Enter your answer in dollars not in millions.)

Answers

Answer:

1. The value of the firm is $23,760,000

2. The value of the equity is $18.76m

Explanation:

In order to calculate the value of the firm we would have to use the following formula:

Value of firm = FCF1 / (r - g) = FCF0 x (1 + g) / (r - g)

Operating Cash Flows (OCF) = (EBITDA - Depreciation) x (1 - tax) + Depreciation

= (2,700,000 - 330,000) x (1 - 30%) + 330,000

= $1,989,000

Free Cash Flow (FCF) = OCF - Investment

We know that investment = 15% of EBITDA = 15% x 2,700,000 = 405,000

Current FCF = 1,989,000 - 405,000 = 1,584,000

Therefore, Value of the firm = 1,584,000 x (1 + 5%) / (12% - 5%) = $23,760,000

To calculate the value of equity we would have to use the following formula:

Value of equity = Value of Firm - Value of Debt = 23.76 - 5 = $18.76m

Answer:

Value of the firm                          $ 14550000.

Value of the firm's equity            $ 11550000.

Explanation:

Cash flow from operations = $ 1785000 (1700000 + 5 % of 1700000).

Depreciation = $ 241500. (230000 + 5 % of 230000).

Taxable income = $ 1543500 (1785000 - 241500)

Net income (after tax) = 1543500 - 30 % of 1543500 = $ 1080450.

Cash flow from operations (after tax) = 1080450 + 241500 (Depreciation, being non cash expense). = $ 1321950.

Free cash flow available = Cash flow from operations (after tax) - Income from investment.

= 1321950 - (1700000 * 17 % * 1.05)

= 1321950 - 303450.

= $ 1018500.

Value of the firm = Free cash flow available / (Capitalization rate - Growth rate)

= 1018500 / (0.12 - 0.05)

= 1018500 / 0.07

= $ 14550000.

Value of the firm's equity = Total value of firm - Value of debt of firm

= 14550000 - 3000000

= $ 11550000.

Conclusion :-

Value of the firm                          $ 14550000.

Value of the firm's equity            $ 11550000.

A perfectly competitive firm is a: Group of answer choices price taker, because it must accept the market equilibrium price. price participant, because it can coordinate its pricing decisions with other firms. price maker, because it has the freedom to set the selling price. price leader; it can change its price and other firms will adjust.

Answers

Answer:

A.  price taker, because it must accept the market equilibrium price.

Explanation:

A perfectly competitive firm is an ideal firm in which different firms sell products that are homogeneous or similar in nature. They are price takers because the prices of goods are determined by changes in demand and supply, therefore they must accept the market equilibrium price. They do not attempt to fix the prices of commodities. The opposite of this type of firm is a monopoly where a firm has complete control of a market, having the ability to change prices as it wills.

An example can be found among businesses that sell similar kinds of products. It could be in the form of grocery stores that sell similar wares. When any of the sellers leave the market, it does not affect the other sellers as their prices are at equilibrium. Therefore, anyone can enter or exit this type of market.  

Zoum Corporation had the following transactions during the year: Issued $250,000 of par value common stock for cash. Recorded and paid wages expense of $120,000. Acquired land by issuing common stock of par value $100,000. Declared and paid a cash dividend of $20,000. Sold a long-term investment (cost $8,000) for cash of $6,000. Recorded cash sales of $800,000. Bought inventory for cash of $320,000. Acquired an investment in Zynga stock for cash of $42,000. Converted bonds payable to common stock in the amount of $1,000,000. Repaid a 6-year note payable in the amount of $440,000. What is the net cash provided by financing activities?

Answers

Answer:

-$210,000

Explanation:

Issued Common Stock at par for Cash $250,000

Less:

Declared and paid a cash dividend $20,000

Repayment of 6-year note payable $440,000

Net Cash provided by Financing Activities ($210,000)

A television manufacturer would like to reduce its inventory. To this end, you are asked by the operations manager to assess its inventory level. You have the following information on average inventories from last year's financial statement: Raw materials $1,500,000 Work-in-process $1,200,000 Finished goods $800,000 In addition, the cost of goods sold last year (50 weeks) was $20 million. What is its total inventory (measured as weeks of supply) Answer

Answers

Answer:

A.8.75 weeks

B.5.71

Explanation:

a.

Weeks of supply = average aggregate inventory value/weekly sales at cost

=(1,500,000 + 1,200,000 + 800,000)/(20,000,000/50)

=3,500,000/400,000

= 8.75 weeks

b.Inventory turnover = annual sales (at cost)/average aggregate inventory value

=20 million/3.5 million

= 5.71

Answer:

Weeks Of Supply = 27.82 weeks

Explanation:

Weeks of Supply tells us that on average how long an inventory will last based on current demand.

The formula to calculate it is given below

Weeks Of Supply = Average Aggregate Inventory Value/ Weekly Cost of Sales

Weeks Of Supply = Raw Materials + Work In Process + Finished Goods/ Weekly Cost of Sales

Weeks Of Supply =$1,500,000+ $1,200,000+ $800,000/$ 20,000,000/52

Weeks Of Supply = 10,700,000/384615.385= 27.82 weeks

If the weeks of supply is lower it is better.

Inventory Turnover= $ 20,000,000/10,700,000=1.87 turns

Suppose you are considering the purchase of an apartment building that has 12 units that can be rented out at $1,050 per month. You have estimated operating expenses and expected vacancy and collection losses for the first year to be $35,700 and $30,240, respectively. You also have estimated that you will be able to generate an additional $3,840 in the first year from garage rentals on the property. If the expected purchase price of the property is $1,100,000 and you are planning on making a 10% down payment, calculate the debt yield ratio.

Answers

Answer:

The debit yield ratio is 9%

Explanation:

Rent = 12 units  × 12 months × $1,050 = $151,200

Net Operating Income = Rent- Operating expenses - Expected vacancy and collection losses + Garage rent

= $151,200 - $35,700 - $30,240 + $3,840

= $89,100

Debt amount = Price × (1 - Down payment)

= $1,100,000 × (1 - 0.1)

= $990,000

Debt yield ratio = [tex]\frac{Net Operating Income}{Debt}[/tex]

= [tex]\frac{89,100}{990,000}[/tex]

= 9%

On January 1, 2021, M Company granted 95,000 stock options to certain executives. The options are exercisable no sooner than December 31, 2023, and expire on January 1, 2027. Each option can be exercised to acquire one share of $1 par common stock for $12. An option-pricing model estimates the fair value of the options to be $5 on the date of grant. What amount should M recognize as compensation expense for 2021

Answers

Answer:

$158,333 approx

Explanation:

The computation of compensation expense is shown below:-

Compensation expense = (Number of options expected to be exercised × Fair value) ÷ Vesting period (From 1 Jan 2024 to 31 Dec 2026)

= (95,000 × $5) ÷ 3 years

= $475,000 ÷ 3 years

= $158,333 approx

Therefore for computing the compensation expenses we simply applied the above formula.

Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are planned for the year. Beginning Inventory Ending Inventory Finished goods (units) 27,000 77,000 Raw material (grams) 57,000 47,000 Each unit of finished goods requires 3 grams of raw material. The company plans to sell 740,000 units during the year. The number of units the company would have to manufacture during the year would be:

Answers

Answer:

790,000

Explanation:

Data provided

Budgeted sales = 740,000

Desired ending inventory = 77,000

Beginning inventory = 27,000

The computation of number of units is shown below:-

Number of units to be manufactured = Budgeted sales + Desired ending inventory - Beginning inventory

= 740,000 + 77,000 - 27,000

= 817,000 - 27,000

= 790,000

Therefore for computing the number of units manufactured we simply applied the above formula.

Which of the following statements is correct with respect to inventories? The FIFO method assumes that the costs of the earliest goods acquired are the last to be sold. It is generally good business management to sell the most recently acquired goods first "Under FIFO, the ending inventory is based on the latest units purchased." FIFO seldom coincides with the actual physical flow of inventory.

Answers

Answer:

Under FIFO, the ending inventory is based on the latest units purchased.

Explanation:

First in, first out inventory (FIFO) method values cost of goods sold using the purchase price of the "oldest" units in inventory. This means that the cost of the first units sold will be used to determine COGS.

On the other hand, last in, first out (LIFO) method uses the price of the most recently purchased units to determine the cost of goods sold.

Many consumers are unhappy with the pervasiveness of marketing. They point out that advertising messages are everywhere, from websites and e-mails to unwanted direct mail, television commercials, and billboards. These consumers are concerned about ________. A. false wants and too much materialism B. the balance between private goods and social goods C. deceptive practices D. high packaging costs E. cultural pollution

Answers

Answer:

E. Cultural pollution.

Explanation:

In marketing terminologies, cultural pollution implies pertaining to customs, beliefs, art and all the other products of human thought made by a particular group of people at a particular time. Culture provides a sense of identity; it defines who you are and maintains a sense of belonging. It validates our reason for being in this world, defining where we are headed in our lives. Cultural rules influence people to behave similarly, making it easier for them to identify with each other. It shapes attitudes, thinking, behavior and values. It is also normative, defining the standard for judging values and behavior.

Answer: E. cultural pollution

Explanation:

Advertising can be classified as a Cultural Pollution, that has been put in charge of the internet. advertising adds usually add no significant value to our cultural lives. What it does is to extracts value. Advertising always succeeds to take or demands our attention when we want to focus or do something else.

Direct materials information Medium speed bump Large speed bump

Standard pounds per unit 15 ?

Standard price per pound $1.00 $1.80

Actual quantity purchased and used per unit ? 16

Actual price paid for material per pound $1.80 $2.10

Direct materials price variance $1,120 U $1,920 U

Direct materials quantity variance $100 F ?

Total direct material variance ? $480 U

Number of units produced 100 400


Calculate missing direct material variables

Answers

Answer:

Explanation:

For Medium speed bump

AQ AP AQ SP SQ SP

1,400 $ 1.80 1,400 $ 1.00 1,500 $ 1.00

$ 2,520.00 $ 1,400.00 $ 1,500.00

A B C

DMPV A-B $ 1,120.00 U

DMQV C-B $ 100.00 F

DMV A-C $ 1,020.00 U

We know that Direct material price variance = AQ(AP-SP) = 1120

AQ = 1120/(AP-SP)

AQ = 1120/(1.80-1.00)

AQ = 1,400

SQ = 100 x 15 = 1500

For Large speed bump

AQ AP AQ SP SQ SP

6,400 $ 2.10 6,400 $ 1.80 7,200 $ 1.80

$ 13,440.00 $ 11,520.00 $ 12,960.00

A B C

DMPV A-B $ 1,920.00 U

DMQV C-B $ 1,440.00 F

DMV A-C $ 480.00 U

Using this equation , DMV = DMPV + DMQV

DMQV = DMV-DMPV

DMQV = 480-1920

DMQV = 1440 F

Direct material quantity variance = SP(SQ-AQ) = 1440

SQ-AQ = 1440/SP

1440/SP + AQ = SQ

1440/1.8 + 6400 = SQ

SQ = 7200

(Ignore income taxes in this problem.) James just received an $8,000 inheritance check from the estate of his deceased uncle. James wants to set aside enough money to pay for a trip in five years. If the trip is expected to cost $5,000 and the rate of return is 12 percent per year, how much of the $8,000 must James deposit now to have the $5,000 in five years

Answers

Answer:

  $2837.13

Explanation:

The account value is multiplied by 1 +12% = 1.12 each year, so at the end of 5 years, it will have been multiplied by 1.12^5. For some investment P, we want ...

  5000 = P×1.12^5

  5000/1.12^5 = P ≈ $2837.13

James must deposit about $2837.13 now to have the required amount in 5 years.

During March 2020, Toby Tool & Die Company worked on four jobs. A review of direct labor costs reveals the following summary data. Actual Standard Job Number Hours Costs Hours Costs Total Variance A257 200 $4,000 210 $4,200 $200 F A258 450 10,350 430 8,600 1,750 U A259 300 6,390 299 5,980 410 U A260 110 2,090 103 2,060 30 F Total variance $1,990 U Analysis reveals that Job A257 was a repeat job. Job A258 was a rush order that required overtime work at premium rates of pay. Job A259 required a more experienced replacement worker on one shift. Work on Job A260 was done for one day by a new trainee when a regular worker was absent. Prepare a report for the plant supervisor on direct labor cost variances for March. (Round actual rate and standard rate to 2 decimal places, e.g. 10.50.)

Answers

Answer and Explanation:

The Preparation of report for the plant supervisor on direct labor cost variances for March is attached with the help of spreadsheet.

The Formula are as shown below:-

Actual per hour = Actual costs ÷ Actual number of hours

Standard per hour = Standard costs ÷Standard number of hours

Quantity variance = (Actual hours -Standard hours) × Standard Rate

Price variance = (Actual Rate - Standard Rate) × Actual Hour

Therefore if actual hours is lesser than Standard hours it will become favorable and if actual hours is higher than standard hours it will become unfavorable. In the similar way if actual rate is higher than standard rate then it will become unfavorable on the other hand if actual rate is lesser than standard rate then it will become favorable.

g On the first day of its fiscal year, Chin Company issued $10,000,000 of five-year, 7% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 8%, resulting in Chin receiving cash of $9,594,415. a. Journalize the entries to record the following: Issuance of the bonds. First semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) Second semiannual interest payment. The bond discount is combined with the semiannual interest payment. (Round your answer to the nearest dollar.) If an amount box does not require an entry, leave it blank. 1. 2. 3. b. Determine the amount of the bond interest expense for the first year. $ c. Why was the company able to issue the bonds for only $9,594,415 rather than for the face amount of $10,000,000? The market rate of interest is the contract rate of interest. Therefore, inventors wi

Answers

Answer and Explanation:

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

Total Years = 5, semiannually = 5 × 2 = 10

Rate = 7% yearly, semiannually rate = 7 ÷ 2 = 3.5%  

Journal Entries

On Jan 1

Cash A/c           Dr. $9,594,415

Discount on bonds payable A/c        Dr. $405,585

      To Bonds payable A/c          $10,000,000

(Being the issuance of bond payable is recorded)

Discount value of issued bonds = $10,000,000 - $9,594,415 = $405,585

2).

On Jun

Interest expenses A/c             Dr. $390,559

Discount on bonds payable A/c($405,585 ÷10)           Dr.40,559

 To Cash A/c($10,000,0000 × 3.5%)     $350,000

(Being the payment of first semiannual interest is recorded)

3).  

On Dec 31

Interest expenses A/c              Dr. $390,559

Discount on bonds payable A/c($405,585*10/100)     Dr.$40,559

 To Cash A/c($10,000,000*3.5/100)      $350,000

(Being the payment of second semiannual interest is recorded)

b). Bond Interest Expense Amount for First Year

= Interest Expenses + Amortized Discount

= $700,000 + $81,117

= $781,117

Interest expenses = $350,000 + $350,000 = $700,000

Amortized Discount = $40,559 + $40,559 = $81,117

c).The Company issued the bonds at $9,594,415 for the face amount of $10,000,000 because bonds issued at discount for $405,585 as the coupon rate is less than the market interest.  

7. A generous benefactor pledges $1 million to The Smith Foundation, a NPO that promotes the arts. The gift is to be used to provide scholarships for talented musicians at a music camp operated by the Foundation. The gift was given in August 2006 to support the Summer 2007 music program. The Foundation Director argues that the gift is a conditional restricted gift and therefore cannot be recognized as revenue in 2006. The accountant argues that the gift is an unconditional restricted gift and must be recognized in the current year. What is the basis for the Director’s argument? What is the basis for the accountant’s argument? In your answer provide an explanation of the terms conditional, unconditional, restricted and unrestricted.

Answers

Answer:

What is the basis for the Director’s argument?

The director believes that this is a temporarily restricted contribution and therefore it should be classified as restricted and recognized in 2007 once it can be classified as unrestricted.

What is the basis for the accountant’s argument?

Unconditional gifts or donations must be recognized when they are made, and since the money was received in 2006, it should be recognized then.

Explanation:

I agree with the Director since this is a restricted donation, i.e. the donor established strict conditions for its use both in time and purpose. For it to be unconditional, the donor should have stated that the money could be used in the best way that the NPO considers and at any time. But instead it established that it must be used to provide scholarships to musicians during 2007.

Both a condition and a restriction exits:

the restriction refers to the time: 2007the condition refers to its use: scholarships for musicians

2021 2020 Income Statement Information Sales revenue $ 8,400,000 $ 7,900,000 Cost of goods sold 5,535,600 5,400,000 Net income 332,500 198,000 Balance Sheet Information Current assets $ 1,550,000 $ 1,450,000 Long-term assets 2,150,000 1,850,000 Total assets $ 3,700,000 $ 3,300,000 Current liabilities $ 1,150,000 $ 850,000 Long-term liabilities 1,550,000 1,550,000 Common stock 750,000 750,000 Retained earnings 250,000 150,000 Total liabilities and stockholders' equity $ 3,700,000 $ 3,300,000 Required: 1. Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.) 2. Determine the amount of dividends paid to shareholders in 2021.

Answers

Answer:

2021 2020 Income Statement Information

Sales revenue $ 8,400,000 $ 7,900,000

Cost of goods sold 5,535,600 5,400,000

Net income 332,500 198,000

Balance Sheet Information

Current assets $ 1,550,000 $ 1,450,000

Long-term assets 2,150,000 1,850,000

Total assets $ 3,700,000 $ 3,300,000

Current liabilities $ 1,150,000 $ 850,000

Long-term liabilities 1,550,000 1,550,000

Common stock 750,000 750,000

Retained earnings 250,000 150,000

Total liabilities and stockholders' equity $ 3,700,000 $ 3,300,000

1.

Calculate the following profitability ratios for 2021: (Round your answers to 1 decimal place.)

The four main profitability ratios are:

gross profit margin = (revenue - COGS) / revenue = ($8,400,000 - $5,535,600) / $8,400,000 = 0.341 or 34.1%net profit margin = net profit / revenue = $332,500 / $8,400,000 = 0.03958 or 3.96%return on assets = net income / average total assets = $332,500 / [($3,700,000 + $3,300,000)/2] = $332,500 / $3,500,000 = 0.095 or 9.5%return on equity = net income / shareholders equity = $332,500 / $1,000,000 = 0.3325 or 33.25%

2.

Determine the amount of dividends paid to shareholders in 2021.

retained earnings 2021 - retained earnings 2020 = net income - dividends

$250,000 - $150,000 = $332,500 - dividends

$100,000 + dividends = $332,500

dividends = $332,500 - $100,000 = $232,500

A corporation issued 5,900 shares of $10 par value common stock in exchange for some land with a market value of $88,000. The entry to record this exchange is:

a. Debit Land $88,000; credit Common Stock $88,000.
b. Debit Land $59,000; credit Common Stock $59,000.
c. Debit Common Stock $59,000; debit Paid-In Capital in Excess of Par Value, Common Stock $29,000; credit Land $88,000.
d. Debit Land $88,000; credit Common Stock $59,000; credit Paid-In Capital in Excess of Par Value, Common Stock $29,000.
e. Debit Common Stock $88,000; credit Land $88,000.

Answers

Answer:

The correct answer is option (d)Debit Land $88,000; credit Common Stock $59,000; credit Paid-In Capital in Excess of Par Value, Common Stock $29,000.

Explanation:

Solution

Given that:

Since the fair value of the Land is more readily known,

Then,

The Fair Market value of Land $88,000 will be taken as basis for valuation.

So entry will be :

Land Dr $88,000

Common Stock Cr $ 59,000

Paid in Capital in Excess of Par -Common Stock Cr 29,000

So a option is correct

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