Answer:
$3,600
Explanation:
Calculation to determine How much will your firm's total revenues change if you increase the price of good X by 2 percent?
Using this formula
Change in Revenue = [PxQx * (1 + Ex) + PyQy * (Ey)] * % change in P
Let plug in the formula
Change in Revenue= [$20,000*(1-2) +$100,000*(1.6)] * 2%
Change in Revenue= [$20,000*(-1) + $100,000*(-1.6)] * 2%
Change in Revenue= [-$20,000 + (-$160,000)] * 2%
Change in Revenue= $180,000*2%
Change in Revenue=$3,600
Therefore how much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 2 percent will be $3,600
From the list below, select the items that are classified as a materials activity. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
Raw materials used
Raw materials beginning inventory
Raw materials purchases
Work in process beginning inventory
Goods manufactured
Direct labor used
Factor overhead used
Answer and Explanation:
The classification is as follows:
Under Materials activity
Opening balance of Raw materials inventory
Purchase of the Raw materials purchases
Under Production activity:
OPening balance of Work-in process inventory
Raw material used
Direct labor used
Factory overhead used
Under Sales activity:
Goods manufactured
In this way it should be categorized
Hence, the same should be relevant
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Answer:
liability risk
Explanation:
Answer:
liability risk is right opstion
Standard Quantities Allowed of Labor and Materials Miel Company produces ready-to-cook oatmeal. Each carton of oatmeal requires 18 ounces of rolled oats per carton (the unit quantity standard) and 0.05 labor hour (the unit labor standard). During the year, 750,000 cartons of oatmeal were produced. Required: 1. Calculate the total amount of oats allowed for the actual output. fill in the blank 1 ounces 2. Calculate the total amount of labor hours allowed for the actual output. fill in the blank 2 hours
Answer:
13,500,000 ounces of oatmeal37,500 labor hoursExplanation:
1. Total amount of oats allowed for the actual output:
= Cartons of oatmeal produced * Oatmeal per carton
= 750,000 * 18
= 13,500,000 ounces of oatmeal
2. Labor hours allowed for actual output:
= Cartons of oatmeal produced * Labor hours required
= 750,000 * 0.05
= 37,500 labor hours
Financial information for Forever 18 includes the following selected data: ($ in millions except share data) 2021 2020 Net income $ 160 $ 171 Dividends on preferred stock $ 22 $ 17 Average shares outstanding (in millions) 250 300 Stock price $ 11.92 $ 10.87 Required: 1-a. Calculate earnings per share in 2020 and 2021.
Answer:
Earnings per share = (Net income - Preferred dividends) / Number of shares outstanding
2020:
= (171 - 17) / 300
= $0.51 per share
2021:
= (160 - 22) / 250
= $0.55 per share
In the Month of March, Chester received orders of 81 units at a price of $15.00 for their product Creak. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 81 units in April. They received payment for 41 units in March, and 41 units in April. In the March income statement, how much revenue is recognized on the March income statement from this order
Answer:
Chester Corporation
Revenue for March Income Statement for this order = $0
Revenue for April Income Statement for this order = $1,215
Explanation:
a) Data and Calculations:
March: orders of 81 units at a price of $15 received = $1,215
Credit terms = 30 days
April, delivery of 81 units
March, payment for 41 units received
April, payment for 41 units received
In the March income statement, no revenue is recognized on the March Income Statement from this order because the delivery is for April. All revenue will be accounted for in April.
Kim Thorsten uses rationale to make decisions for project implementation. She believes that the right decisions can be made only through analysis and examination. Each time she needs to make a decision, she weighs all options before taking action. Which of the following is a characteristic of Thorsten's personality type according to the Myers-Briggs Type Indicator (MBTI) classification?
a. intuitive
b. thinking
c. introverted
d. perceiving
e. feeling
Answer: b. thinking
Explanation:
Kim Thorsten has the personality type known as thinking. People like her are logical when they make decisions which means that they rely less on emotion and use rationale and evidence to make decisions.
These people are pragmatists and will only make a decision that they believe is objectively the best one after considering other options. This is what Kin does and why she is under thinking.
Assume a firm generates $2,500 in sales, has a $800 increase in accounts receivable and has a $500 increase in accounts payable during an accounting period. Based solely on this information, cash flow from operations will increase by:
Answer:
Cash flow from operations will increase by $2,200.
Explanation:
The amount of increase in cash flow from operations can be calculated as follows:
Increase in cash flow from operations = Sales - Increase in accounts receivable + Increase in accounts payable …………… (1)
Sales = $2,500
Increase in accounts receivable = $800
Increase in accounts payable = $500
Substituting the values into equation (1), we have:
Increase in cash flow from operations = $2,500 - $800 + $500 = $2,200
Therefore, cash flow from operations will increase by $2,200.
If workers are more productive, the increase may not be reflected on the static budget variance if there were also:__________
A. Greater sales than planned
B. Less sales than planned
C. Greater production than planned
D. Less production than planned
E. None of the above Clear my choice
Answer:
abcde
Explanation:
abcde...................................................
Advantages of the corporate form include all of the following except: A. shares can be purchased in small amounts. B. ownership interests are transferrable. C. easy to raise capital. D. legal liability of its owners is unlimited.
Statement that does not describes Advantages of the corporate form is D: legal liability of its owners is unlimited.
A corporation serves as a business set up whereby the legal entity is been separated from from its owners.Advantages of this setting is that shares can be purchased in small amounts and it allows transfer of ownership interests and it is very easy to raise capital in this setting.Therefore, option D is correct.
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Marconi Co. has the following information available for the current year:
Net Sales (all on credit) $1,125,000
Bad Debt Expense 90,000
Accounts Receivable, Beginning of Year 180,000
Accounts Receivable, End of Year 82,500
Allowance For Doubtful Accounts, Beginning of Year 57,000
Allowance For Doubtful Accounts, End of Year 77,000
Required:
What was the amount of write-offs during the year?
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Lopez Company has a single employee, who earns a salary of $60,000 per year. That employee is paid on the 15th and last day of each month. On January 15, based, in part, on the information set forth in the accounting records, the following must be withheld from the employee's pay: FICA—Social Security Taxes (at 6.2%), FICA—Medicare Taxes (at 1.45%), Employee Federal Income Taxes (in the amount of $400), Employee State Income Taxes (in the amount of $25), and Employee Medical Insurance (in the amount of $100). (The employee‘s paycheck has not yet been prepared.) Entries to prepare the January 15 journal entry for Lopez would include:
Answer:
Debit Salaries Expense $2,500
Credit FICA—Social Security Taxes Payable $155
Credit FICA—Medicare Taxes Payable $36.25
Cedit Employee Federal Income Taxes Payable $400,
Credit Employee State Income Taxes Payable $25
Credit Employee Medical Insurance Payable r $100
Credit Salaries Payable $1,783.75
Explanation:
Preparation of the January 15 journal entry for Lopez
January 15
Debit Salaries Expense $2,500
Credit FICA—Social Security Taxes Payable $155
(6.2%*$2,500)
Credit FICA—Medicare Taxes Payable $36.25
(1.45%*$2,500)
Cedit Employee Federal Income Taxes Payable $400,
Credit Employee State Income Taxes Payable $25
Credit Employee Medical Insurance Payable r $100
Credit Salaries Payable $1,783.75
($2,500-$155-$36.25-$25-$100)
The next two questions use the following data from TGX Global, a heavy equipment manufacturer (this information will be repeated on the next question): TGX Global sells excavators, with an average sale price of $500,000 per excavator. TGX received new orders for 90 excavators in 2018. TGX produced & delivered 120 excavators in 2018: 50 excavators were ordered in 2017 and the rest (70 excavators) were ordered in 2018. TGX received payment for 110 excavators. TGX began selling 1-year maintenance services contracts for $50,000 per excavator in 2018, which begin after the excavator is delivered. Contracts were sold on 50% of all excavator orders made in 2018 (no contracts were sold on orders placed in 2017). Assume all excavators delivered in 2018 are delivered at year end, calculate TGX’s 2018 revenue based on the transactions described above.
TGX’s 2018 revenue depends upon the given transactions is $60 million.
The calculation of TGX’s 2018 revenue depends upon the given transactions is as follows:
TGX’s 2018 Revenue is
= TGX produced & delivered excavators in the year 2018 × Sale Price per excavator
= 120 Excavator × $500,000
= $60 Millions.
Working Notes:
1. The revenue for the year 2018 should be recorded at that time period where the products are sold.
2. The revenue for the maintenance service contract should be recorded in the year when the service is provided not in that year where the contract service should be sold as it is treated as the unearned revenue till the service is provided
Therefore we can conclude that TGX’s 2018 revenue depends upon the given transactions is $60 million
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The Anti-Trust Department also monitors cartels within the United States. As long as they don't control more than 40 percent of the market, then the Anti-Trust Department will leave them alone.
a. Investigating cartels is a responsibility of the Federal Reserve Bank.
b. This is a true statement.
c. This statement is false.
d. The US. Anti-Trust Department does not investigate cartels in America
Answer:
c. This statement is false.
Explanation:
Anti-Trust Department is the department in the united states that could enforced the anti-trusted law. They have the right to investigate onto the collusion, this could harm the competition that could lead the welfare loss
Since large share could be considered so it should be controlled and investigated
Therefore the given statement is false
MC Qu. 47 Chang Industries has... Chang Industries has 2,800 defective units of product that have already cost $14.80 each to produce. A salvage company will purchase the defective units as they are for $5.80 each. Chang's production manager reports that the defects can be corrected for $5.20 per unit, enabling them to be sold at their regular market price of $22.60. The incremental income or loss on reworking the units is:
Answer:
$32,480
Explanation:
Calculation to determine what The incremental income or loss on reworking the units is:
First step is calculate the Net benefit per unit to rework
Incremental revenue from reworking $16.80
($22.60 - $5.80)
Less Incremental cost to rework ($5.20)
Net benefit per unit to rework $11.60
Now let calculate the Incremental income from reworking
Incremental income from reworking= ($11.60 * 2,800 units)
Incremental income from reworking=$32,480
Therefore The incremental income or loss on reworking the units is:$32,480
Suppose a farmer wants to borrow $176,590.00 to buy a tract of land. The BCS bank will make a 22-year loan fully amortized at 6.19% (annual payments). A $443.00 loan fee and stock purchase is required. The borrower stock requirement is the lesser of $1,000 or 3.00% of loan amount.
(i) Calculate the loan principal.
a. $181,521.05 b. $178,089.12
c. $182,508.25 d. $178,033.00
Enter Response Here:
(ii) Calculate the required stock purchase.
a. $5,340.99 b. $1,000.00
c. $5,274.64 d. $1,760.24
Enter Response Here:
(iii) Calculate the annual loan payments.
a. $15,032.59 b. $15,037.33
c. $15,410.47 d. $15,327.12
Answer:
A Farmer
i) Loan principal = $178,033 ($176,590 + $443 + $1,000)
ii) Required stock purchase = $1,000
iii) Annual loan payment (fully amortized at 6.19%) is:
= a. $15,032.59
Explanation:
a) Data and Calculations:
Required loan amount = $176,590.00
Period of loan = 22 years
Interest rate = 6.19%
Loan fee = $443.00
Stock purchase = lesser of $1,000 or 3.00% of loan amount
= lesser of $1,000 or $5,297.70 ($176,590 * 3%)
i) Loan principal = $178,033 ($176,590 + $443 + $1,000)
ii) Required stock purchase = $1,000
iii) Annual loan payment (fully amortized at 6.19%) = $15,030 approximately :
(# of periods) 22
I/Y (Interest per year) 6.19
PV (Present Value) 178033
FV (Future Value) 0
PMT = $15,030.02
Sum of all periodic payments $330,660.34
Total Interest $152,627.34
MC Qu. 71 Benjamin Company had the following results... Benjamin Company had the following results of operations for the past year: Sales (16,000 units at $9.95) $159,200 Direct materials and direct labor$95,200 Overhead (20% variable) 15,200 Selling and administrative expenses (all fixed) 31,900 (142,300) Operating income $16,900 A foreign company (whose sales will not affect Benjamin's market) offers to buy 3,900 units at $7.39 per unit. In addition to variable manufacturing costs, selling these units would increase fixed overhead by $590 and selling and administrative costs by $290. Assuming Benjamin has excess capacity and accepts the offer, its profits will:
Answer:
Benjamin Company
Assuming Benjamin has excess capacity and accepts the offer, its profits will increase by:
= $3,995.
Explanation:
a) Data and Calculations:
Sales (16,000 units at $9.95) $159,200
Direct materials and direct labor $95,200
Overhead (20% variable) 15,200
Selling and administrative expenses (all fixed) 31,900
Total expenses (142,300)
Operating income $16,900
Relevant costs:
Direct materials and direct labor $95,200
Variable Overhead (20% variable) 3,040 ($15,200 * 20%)
Total expenses (98,240)
Variable cost per unit = $6.14 ($98,240/16,000)
Additional costs:
Fixed overhead 590
Selling and administrative expenses (all fixed) 290
Accepting the offer:
Revenue from offer = $28,821 (3,900 * $7.39)
Costs:
Variable cost $23,946 (3,900 * $6.14)
Additional cost:
Fixed overhead 590
Selling and
administrative expenses 290
Total costs on the offer $24,826
Increase in profits = $3,995
Required information
A bank reconciliation proves the accuracy of the depositor's and the bank's records. The bank statement balance is adjusted for items such as outstanding checks and unrecorded deposits made on or before the bank statement date but not reflected on the statement. The book balance is adjusted for items such as service charges, bank collections for the depositor, and interest earned on the account. The company's bank reconciliation at June 30 included interest earned in the amount of $150. Complete the necessary journal entry .
Answer:
Date Account Title Debit Credit
June 30 Cash $150
Interest revenue $150
Explanation:
Interest earned is considered to be revenue so it will be credited to the interest revenue account.
Cash will be debited because the interest revenue increased it and assets are debited when they increase.
Which of the following is true of website content?
A. It should be refreshed periodically to keep customers coming back.
B. Once the content has been written and proofread it shouldn't be changed.
C. Grammatical errors are not a problem because the customer visits the site to purchase a product, not check the site's grammar.
D. It should be limited to text and shouldn't include multimedia.
Answer:
The Answer: A
Explanation:
Because if you are going to put up a business website you need to keep refreshing it and putting new things onto the website in order for you to have customers because if you dont have anything new in stock people arent gonna wanna keep coming back and using the same product they are going to go to a different website where there is a wider variety of things to purchase.
Hope this helps!
Journalize the entries for the following transactions:
Mar. 1 Established a petty cash fund of $771.
31 The amount of cash in the petty cash fund is now $632. The fund is replenished based on the following receipts: office supplies, $33 selling expenses, $113.
Record any discrepancy in the cash short and over account. If an amount box does not require an entry, leave it blank.
Answer:
Mar 1
Dr Petty Cash $771.00
Cr Cash $771.00
Mar 31
Dr Office Supplies $33.00
Dr Selling Expenses 113.00
Cr Cash Short and Over $27.00
Cr Cash $119.00
Explanation:
Preparation of the entry to Record any discrepancy in the cash short and over account.
Mar 1
Dr Petty Cash $771.00
Cr Cash $771.00
(To record petty cash)
Mar 31
Dr Office Supplies $33.00
Dr Selling Expenses 113.00
Cr Cash Short and Over $27.00
[($33+$133+$632)-$771]
Cr Cash $119.00
(33+$133-$27)
(To Record discrepancy in the cash short and over account)
In general, a project's free cash flows will fall in one of the following three categories: initial outlay, annual free cash flows over the project's life, and the terminal free cash flow.
a) true
b) false
Answer:
a true espero te sirva ;))))))))
The Lumber Division of Paul Bunyon Homes Inc. produces and sells lumber that can be sold to outside customers or within the company to the Construction Division. The following data have been gathered for the coming period:
Lumber Division:
Capacity200,000 board feet
Price per board foot$2.50
Variable production cost per bd. ft.$1.25
Variable selling cost per bd. ft.$0.50
Construction Division:
Board feet needed60,000
Outside price paid per bd. ft.$2.00
If the Lumber Division sells to the Construction Division, $0.35 per board foot can be saved in shipping costs.
If current outside sales are 130,000 board feet, what is the minimum transfer price that the Lumber Division could accept?
a. $1.25
b. $1.40
c. $1.75
d. $2.50
Answer:
b. $1.40
Explanation:
The computation of the minimum transfer price that the Lumber Division could accept is shown below:
= Variable production cost per bd. ft. + Variable selling cost per bd. ft.
= $1.25 + $0.50
= $1.40
Hence, the minimum transfer price that the Lumber Division could accept is $1.40
Therefore the option b is correct
The minimum transfer price that the Lumber Division could accept is $1.40.
What is transfer price?Transfer pricing is the method in which the product is sold out bey one subsidiary to another but within the company.
This method is used when the subsidiaries of a parent company are measured as separate earnings essences.
The computation of the minimum transfer price:
The minimum transfer price is found out by apply the formula:
[tex]\text{Minimum Transfer Price}= \text{Variable Production Cost per bd. ft.}-\text{Variable Selling Cost per bd. }[/tex]
According to the given case,
Variable production cost per bd. ft. = $1.25,
Variable selling cost per bd. ft. = $0.50.
Now apply the values in the above formula, we get:
[tex]\text{Minimum Transfer Price}= \text{Variable Production Cost per bd. ft.}-\text{Variable Selling Cost per bd. }\\\\\text{Minimum Transfer Price}= \$1.25 + \$0.50\\\\\text{Minimum Transfer Price}=\$1.40[/tex]
Therefore, the minimum transfer price that the Lumber Division to accept is $1.40. So, option D is correct.
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According to the interest parity condition, if the domestic interest rate is 12 percent and the foreign interest rate is 10 percent, then the expected _________ of the foreign currency must be _________ percent. Group of answer choices
Answer: Appreciation; 2%
Explanation:
From the information given in the question,
Domestic Interest rate = 12%
Foreign interest rate = 10%
Let's assume,
S = spot exchange rate
F = forward exchange rate,
Based on the per interest rate parity, the forward exchange rate will be:
F = S × (1 + 10%) / (1 + 12%) = 0.98x
F = S × (1+0.1)/(1+0.12) = 0.98x
Therefore, the forward exchange rate will be expected to fall by:
= 1 - 0.98
= 0.2
= 2%
Năm trước, doanh thu đạt được 1 triệu $, trong đó 250.000 là doanh thu bán chịu; số dư khoản phải thu khách hàng trung bình là 41.096$. Năm nay, công ty kỳ vọng doanh thu sẽ tăng thêm 50%, tỷ lệ doanh thu bán chịu/doanh thu không đổi, kỳ thu tiền bình quân tăng 50% (giả sử một năm có 365 ngày). Nếu khoản phải thu tăng thêm được tài trợ từ bên ngoài (chẳng hạn như vay ngân hàng) thì công ty cần thêm nguồn tài trợ này là bao nhiêu?
punda mavana Umbi. posddajh jzushl Unni Sunni nayye mayiru
When a company has established separate manufacturing overhead rates for each department, it is using:_______.
a. departmental overhead rates.
b. cost distortion.
c. a plant-wide overhead rate.
d. lean thinking.
Answer:
Departmental overhead rates
Prepare the schedule of cost of goods manufactured for Barton Company using the following information.
Direct materials $232,500
Direct labor 65,500
Factory overhead costs 27,600
Work in process, beginning 158,200
Work in process, ending 163,000
Answer and Explanation:
The preparation of the schedule of cost of goods manufactured is presented below:
Direct material $232,500
Direct labor $65,500
Factory overhead $27,600
Total manufacturing Cost $325,600
Beginning work in process $158,200
Total cost of work in process $483,800
Ending work in process -$163,000
Cost of goods manufactured $320,800
In this way it should be prepared
Below is budgeted production and sales information for Flushing Company for the month of December. Product XXX Product ZZZ Estimated beginning inventory 29,000 units 18,500 units Desired ending inventory 34,800 units 15,100 units Region I, anticipated sales 344,000 units 273,000 units Region II, anticipated sales 192,000 units 143,000 units The unit selling price for product XXX is $5 and for product ZZZ is $16. Budgeted production for product ZZZ during the month is a.416,000 units b.412,600 units c.599,800 units d.431,100 units
Answer:
The correct option is b.412,600 units.
Explanation:
Given:
Product XXX Product ZZZ
Estimated beginning inventory 29,000 units 18,500 units
Desired ending inventory 34,800 units 15,100 units
Region I, anticipated sales 344,000 units 273,000 units
Region II, anticipated sales 192,000 units 143,000 units
Therefore, we have:
Estimated beginning inventory for product ZZZ = 18,500 Units
Desired ending inventory for product ZZZ = 15,100 Units
Total anticipated sale at regions I and II= Region I, anticipated sales + Region II, anticipated sales = 273,000 + 143,000 = 416,000 units
Budgeted production for product ZZZ during the month = Total anticipated sale at regions I and II + Desired ending inventory for product ZZZ - Estimated beginning inventory for product ZZZ = 416,000 + 15,100 - 18,500 = 412,600 units
Therefore, the correct option is b.412,600 units.
Consumer Price Index (CPI) is an
A. economic condition in which there is a decline in the price of
goods and services
B. economic measurement that helps determine changes in the
purchasing power of a dollar
c. economic condition in which money loses its purchasing power
and prices rise
D. amount of goods that can be purchased with a unit of currency
Answer:
B
Explanation:
The Consumer Price Index (CPI) measures monthly changes in prices for a range of consumer products
There are hundreds if not thousands of wineries. Each winery tries to emphasize how their product is superior to others, though they are all close substitutes. Barriers to entry are low in this industry, and profits for new entrants are small. Which industrial model best fits the wine market
Answer: Monopolistic competition
Explanation:
Based on the information given in the question, the industrial model that best fits the wine market is a monopolistic competition.
Monopolistic competition refers to a form of imperfect competition whereby there are many producers that are competing against each other. They sell differentiated products, therefore the products are not perfect substitutes
In a monopolistic competition, the barriers to entry are low in this industry, and profits for new entrants are small. The firms in the industry possess some market power and therefore can charge a price that's higher price than a competitor. It should also be noted that a zero economic profit is earned in the long run.
Fender Manufacturing Company needs to know its anticipated cash inflows for the next quarter by month. Cash sales are 10% of total sales each month. Historically, sales on account have been collected as follows: 50% in the month of the sale, 35% in the month after the sale, and the remaining 15% two months after the sale. Sales for the quarter are projected as follows:
January: $60,000
February: $30,000:
March: $90,000.
Accounts receivable on December 31 were $45,000. The expected cash collections of Fender Manufacturing Company for March are:_________
Answer:
Fender Manufacturing Company
The expected cash collections of Fender Manufacturing Company for March is:
= $58,050
Explanation:
a) Data and Calculations:
Cash sales = 10% of total sales
Credit sales = 90% (100% - 10%)
Cash collections from credit sales:
Month of the sale (50%)
Month after the sale (35%)
Two months after (15%)
Accounts receivable on December 31 = $45,000
January February March
Projected sales $60,000 $30,000 $90,000
Cash sales $6,000 $3,000 $9,000
Credit sales $54,000 $27,000 $81,000
Cash collections from credit sales:
Month of the sale (50%) $27,000 $13,500 $40,500
Month after the sale (35%) 31,500 18,900 9,450
Two months after (15%) 13,500 8,100
Cash collections from credit sales $58,050
The expected cash collections of Fender Manufacturing Company for March =
Cash collections from credit sales $58,050
Cash sales 9,000
Total cash receipts for the month $67,050
Suppose ABCD's stock price is currently $50. In the next six months, it will either fall to $40 or rise 8 to $60. What is the current value of a six-month call option with an exercise price of $50? The six- month risk-free interest rate is 2% (periodic rate).
A. $5.39
B. $15.00
C. $8.25
D. $8.09
