Business

Part U16 is used by Mcvean Corporation to make one of its products. A total of 18,000 units of this part are produced and used every year. The company's Accounting Department reports the following costs of producing the part at this level of activity: Per Unit Direct materials $ 3.90 Direct labor $ 8.50 Variable manufacturing overhead $ 9.00 Supervisor's salary $ 4.40 Depreciation of special equipment $ 2.80 Allocated general overhead $ 8.00 An outside supplier has offered to make the part and sell it to the company for $28.70 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including the direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company, none of which would be avoided if the part were purchased instead of produced internally. In addition, the space used to make part U16 could be used to make more of one of the company's other products, generating an additional segment margin of $30,000 per year for that product. The annual financial advantage (disadvantage) for the company as a result of buying part U16 from the outside supplier should be: g
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During the current year, Sun Electronics, Incorporated, recorded credit sales of $780,000. Based on prior experience, it estimates a 2 percent bad debt rate on credit sales. a. On November 13 of the current year, an account receivable for $380 from a prior year was determined to be uncollectible and was written off. b. At year-end, the appropriate bad debt expense adjustment was recorded for the current year.
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What could be a good option available to you if you arebehind on loan payments?A financial institution may offer for you to pay alittle now and pay the rest after your next pay day.You can ignore your payments until the financialinstitution asks about them.You can take out a payday loan.Ask your financial institution to get out of the loancontract.
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Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to consider in preparing the statement: O+ a. Increase in accounts payable F- b. Payment of dividends O- c. Decrease in accrued liabilities F+ d. Issuance of common stock O- e. Gain on sale of building O+ f. Loss on sale of land O+ g. Depreciation expense O- h. Increase in merchandise inventory O+ i. Decrease in accounts receivable I- j. Purchase of equipment
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Hey guys please share your opinion:would you rather have one credit card that you use for everything?or would you rather have one credit card with a low limit for online purchases and another for everyday purchases?THANKS
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When a price floor is set higher than the market price for a product, what will result?The quantity supplied will exceed the quantity demanded.The quantity demanded will exceed the quantity supplied.The quantity demanded and the quantity supplied will be equal.The quantity supplied and the quantity demanded will be unaffected.
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7. One of the benefits of competition in an economy is thatcompetitionA. always results in higher wages.B. results in economic security.C. creates better and more services.D. results in higher prices.
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Demand for consumer goods is necessarily variable. Forecasting the demand for consumer goods is an important business activity, as all businesses have to plan ahead. Manufacturer of consumer goods has been studying the demand for one of their products and the level of demand is given in the following stem and leaf plot, where stem unit is 100 and leaf unit is 10. Stem Leaf 1 1, 2, 3, 4.5, 5, 6, 7, 7, 9, 9.5 2 0, 0, 0, 0, 0, 0, 0, 0, 1, 1, 2, 4, 5, 7, 9 3 0, 0, 0, 2, 8 4 5 0 6 7 8 0 9 10 11 12 0 The outer fences are ___________.
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On January 1, Year 1, the Hoverman Corporation made amendments to its defined benefit pension plan, resulting in $150,000 of past service costs. The plan has 100 active employees with an average expected remaining working life of 10 years. There currently are no retirees under the plan. Required: Determine the amount of past service costs to be amortized in Year 1 and subsequent years under (a) IFRS and (b) U.S. GAAP.
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Service Department Charges In divisional income statements prepared for Demopolis Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll distributions, and the Purchasing Department costs are charged back on the basis of the number of purchase requisitions. The Payroll Department had expenses of $64,560, and the Purchasing Department had expenses of $40,000 for the year. The following annual data for Residential, Commercial, and Government Contract divisions were obtained from corporate records: ResidentialCommercialGovernment Contract Sales$2,000,000 $3,250,000 $2,900,000 Number of employees: Weekly payroll (52 weeks per year)400 250 150 Monthly payroll80 30 10 Number of purchase requisitions per year7,500 3,000 2,000 a. Determine the total amount of payroll checks and purchase requisitions processed per year by the company and each division.
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Hanson Corp produces three products, and is currently facing a labor shortage only 3,090 hours are available this month. The selling price, costs, and labor requirements of the three products are as follows: Product A Product B Product C Selling price $ 76.00 $ 56.00 $ 66.00 Variable cost per unit $ 48.00 $ 19.00 $ 39.00 Direct labor hours per unit 2.5 3.9 2.9 a. What is the contribution margin per unit for each product? Product A Product B Product C b. What is the contribution margin per direct labor hour for each product? (Round your answers to 2 decimal places.) Product A Product B Product C c. Assume Hanson has unlimited demand for each product. Which product should Hanson focus on producing? Product B Product C Product A
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craig thought he could earn $1,000 selling paintings in 6 months. instead, he made $1,200. what is the percentage difference?
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30.Oriole, Inc. leased equipment from Tower Company under a 4-year lease requiring equal annual payments of $254,152, with the first payment due at lease inception. The lease does not transfer ownership, nor is there a bargain purchase option. The equipment has a 4 year useful life and no salvage value. Oriole, Inc.s incremental borrowing rate is 11% and the rate implicit in the lease (which is known by Oriole, Inc.) is 9%. Assuming that this lease is properly classified as a finance lease, what is the amount of Lease Liability reduction recorded in first year after the lease inception?
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Angara Corporation uses activity-based costing to determine product costs for external financial reports. The company has provided the following data concerning its activity-based costing system: Activity Cost Pool (and Activity Measure) Total CostMachine related (machine-hours) $ 103,800 Batch setup (setups) $ 402,600 Order size (direct labor-hours) $ 82,600 Total ActivityActivity Cost Pools Product X Product Y Total Machine related 800 5,200 6,000 Batch setup 3,100 2,900 6,000 Order size 6,000 1,000 7,000 The total amount of overhead cost allocated to Product X would be closest to: ________.
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Monopoly power runs counter to the public interest because it leads to high prices, resource misallocation, and inefficiency. Antitrust policy is one of the government's instruments for curbing monopoly power and protecting competition. Suppose that a major tire retailer purchases a major manufacturer's car tires at a discount on the condition that it must also purchase the manufacturer's truck tires. As a result of the agreement, several tire manufacturers lose their market shares and eventually exit the industry. This agreement would explicitly violate which of the following laws? The Clayton Act of 1914 The Sherman Antitrust Act of 1890 The RobinsonPatman Act of 1936 The CellerKefauver Act of 1950
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A comparison of the marketing concept and customer relationship management indicates that customer relationship management:__________a) And the marketing concept are in fact identical.b) Attempts to improve profits by keeping quality high, while the marketing concept attempts to improve profits by a careful design of the promotional mix.c) Turns the marketing concept upside down. The marketing concept emphasized that marketing was the most important function performed by a firm, but customer relationship management views management to be the most important function.d) Extends the marketing concept by calling for the firm to learn more about its customers so that it not only satisfies them, but exceeds their expectations over time.
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How much yearly revenue does soccer brings in?
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Prepare the following journal entries in proper journal entry form. 1. Billed a customer for a $2,400 job. 2. Received $4,800 to start an eight-month job, beginning next month. 3. Started a company by contributing equipment worth $5,400, land worth $180,000 and cash of $30,000 into a business checking account.
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Running Co. had an equity investment where it owned less than 20% of an investee, and therefore Running Co. was not able to exercise significant influence. Information about the investment is below: 20X1 20X2 Investment cost 170,000 170,000 Fair value 181,400 155,000 Total unrealized gain (loss) 11,400 (15,000) The company sold the investment during 20X3 for the below price: Sales price 192,400 What is the gain (loss) recorded in the income statement in the year of sale, in 20X3
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HELP!!! What is the effective tax rate for an individual whose taxable income is $150,000 and owes $28,977.50 in taxes?A. 19.3%B. 20.3%C. 22.5%D. 24.2%E. 25.0%
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(Working with the balance sheet) The Caraway Seed Company grows heirloom tomatoes and sells their seeds. The heirloom tomato plants are preferred by many growers for their superior flavor. At the end of the most recent year the firm had current assets of $ 48 comma 800, net fixed assets of $ 248 comma 800, current liabilities of $ 28 comma 500, and long-term debt of $ 98 comma 200. a. Calculate Caraway's stockholders' equity. b. What is the firm's net working capital? c. If Caraway's current liabilities consist of $ 18 comma 500 in accounts payable and $ 10 comma 000 in short-term debt (notes payable), what is the firm's net working capital? a. Calculate Caraway's stockholders' equity.
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Suppose the market supply curve is p=5Q at a price of 10 , producer surplus equals
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On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable $ 170,000 Accumulated Depreciation-Building 750,000 Administrative Expenses 435,000 Building 3,500,000 Cash 80,000 Common Stock 300,000 Cost of Goods Sold 5,500,000 Dividends 175,000 Interest Expense 15,000 Inventory 980,000 Notes Payable 250,000 Office Supplies 20,000 Retained Earnings 1,987,000 Salaries Payable 8,000 Sales 8,245,000 Selling Expenses 575,000 Store Supplies 90,000 A. Prepare a multiple-step income statement for the fiscal year ended March 31, 20Y9. Be sure to complete the statement heading. Refer to the information given in the exercise and to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon (:) will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use a minus sign. B. What is a major advantage of the multiple-step income statement over the single-step income statement?
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The 12/31/2018 balance sheet of Despot Inc. included the following: Common stock, 25 million shares at $20 par $ 500 million Paid-in capitalexcess of par 3,000 million Retained earnings 980 million In January 2018, Despot recorded a transaction with this journal entry: Cash 150 million Common stock 100 million Paid-in capitalexcess of par 50 million In February 2018, Despot declared cash dividends of $12 million to be paid in April of that year. What effect did the April transaction have on Despot's accounts? Decreased assets and liabilities. Increased liabilities and decreased shareholders' equity. Decreased assets and shareholders' equity. None of these answer choices are correct
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