Answer:
Total asset turnover = Net sales / Average total assets
Year 2:
= 5,856,480 / (1,686,000 + 1,800,000) / 2
= 5,856,480 / 1,743,000
= 3.36
Year 3:
= 8,679,690 / (1,800,000 + 1,982,000) / 2
= 8,679,690 / 1,891,000
= 4.59
Altex Inc. manufactures two products: car wheels and truck wheels. To determine the amount of overhead to assign to each product line, the controller, Robert Hermann, has developed the following information.
Car Truck
Estimated wheels produced 40,000 10,000
Direct labor hours per wheel 1 3
Total estimated overhead costs for the two product lines are $770,000.
Required:
a. Calculate overhead rate.
b. Compute the overhead cost assigned to the car wheels and truck wheels, assuming that direct labor hours is used to allocate overhead costs.
A) Direct labor hrs for car wheels = estimated wheels *direct labor per wheel
40,000 *1hr = 40,000
Direct labor hrs for Truck
10,000 * 3hr= 30,000
total direct labor hrs 40,000+30,000 = 70,000 hrs
Overhead rate is total est oh cost/ total direct labor hrs
770,000/70,000= 11.00
B) Car truck wheels 40,000*11 =440,000
Truck wheels 10,000*11=110,000
When Joe maximizes utility, he finds that his MRS of X for Y is greater than Px/Py. It is most likely that: Group of answer choices Joe is not consuming good X. Joe's preferences are incomplete. Joe's preferences are irrational. Joe is not consuming good Y.
October 1 October 31 Raw materials $ 30,000 $21,000 Work in process 48,000 37,000 Finished goods 108,000 90,000 During October, purchases of direct materials were $36,000. Direct labor and factory overhead costs were $60,000 and $84,000, respectively. What is the cost of goods manufactured
Answer:
Cost of goods manufactured= $200,000
Explanation:
Giving the following information:
October 1 October 31
Raw materials $ 30,000 $21,000
Work in process 48,000 37,000
Direct material purchase= $36,000
Direct labor= $60,000
Factory overhead costs= $84,000
First, we need to calculate the direct material used:
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 30,000 + 36,000 - 21,000
Direct material used= $45,000
Now, the cost of goods manufactured:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 48,000 + 45,000 + 60,000 + 84,000 - 37,000
cost of goods manufactured= $200,000
At the end of the first year of operations, 21,500 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:
Direct materials $30
Direct labor 18
Fixed factory overhead 22
Variable factory overhead 14
Required:
Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept.
Answer and Explanation:
The computation of the cost of the finished goods inventory reported is as follows:
Absorption costing is
= ($30 + $18 + $22 + $14) × 21,500 units
= $1,806,000
And,
Variable costing is
= ($30 + $18 + 14) × 21,500
= $1,333,000
In this way the cost of the finished goods inventory should be determined
Cost of Goods Sold, Cost of Goods Manufactured
Glenville Company has the following information for April:
Cost of direct materials used in production $41,000
Direct labor 47,000
Factory overhead 20,000
Work in process inventory, April 1 34,000
Work in process inventory, April 30 27,000
Finished goods inventory, April 1 24,000
Finished goods inventory, April 30 18,000
a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured.
b. For April, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold.
Answer and Explanation:
a. The preparation of the statement of Cost of Goods Manufactured is presented below:
Work in process inventory, April 1 34,000
Add:
Cost of direct materials used in production $41,000
Direct labor 47,000
Factory overhead 20,000
Less:
Work in process inventory, April 30 27,000
Cost of goods manufactured $115,000
b. The preparation of the statement of Cost of Goods Sold is presented below:
Finished goods inventory, April 1 24,000
Add: cost of goods manufactured $115,000
Less: Finished goods inventory, April 30 18,000
Cost of goods sold $121,000
Daley Company uses the allowance method. At December 31, 2015, the company's balance sheet reports Accounts receivable, Net in the amount of $17,000. On January 2, 2016, Daley writes off a $1,500 customer account balance when it becomes clear that the customer will never pay. What is the amount of accounts receivable, net after the write-off?
a. $1,500
b. $15,500
c. $18,500
d. $17,000
Answer:
d. $17,000
Explanation:
The computation of the amount of accounts receivable, net after the write-off is given below:
Since the company followed the allowance method, so at the time of written off the customer account balance both the allowance and gross account receivable should be reduced and both the account balance and the net account receivable should be the same when the write off has been done
So, it is $17,000
Miller and Sons' static budget for 10,500 units of production includes $41,000 for direct materials, $50,300 for direct labor, variable utilities of $7,600, and supervisor salaries of $14,600. A flexible budget for 12,100 units of production would show Round your final answer to the nearest dollar. Do not round interim calculations. a.the same cost structure in total b.direct materials of $47,248, direct labor of $57,965, utilities of $8,758, and supervisor salaries of $14,600 c.direct materials of $47,248, direct labor of $57,965, utilities of $8,758, and supervisor salaries of $17,520 d.total variable costs of $113,500
Answer:
b.direct materials of $47,248
Direct labor=$57,965
Variable Utilities=8,758
Supervisor salaries $14,600
Explanation:
Computation of flexible budget
FLEXIBLE BUDGET
Direct materials
$41,000/10,500*12,100
Direct materials= $47,248
Direct labor=50,300/10500*12100
Direct labor=$57,965
Variable Utilities
=7600/10500*12100
Variable Utilities=8,758
Supervisor salaries $14,600 Fixed cost
A firm has inventory of $11,400, accounts payable of $9,800, cash of $750, net fixed assets of $13,125, long-term debt of $9,500, accounts receivable of $6,600, and total equity of $11,700. What is the common-size percentage for the inventory?
Answer:
39.19%
Explanation:
Calculation to determine the common-size percentage for the net fixed assets
Using this formula
Common-size percentage=Net fixed assets /(Inventory+Cash+Net fixed assets+Accounts receivable )
Let plug in the formula
Common-size percentage=$12,150 / ($11,400 + $850 + $12,150 + $6,600)
Common-size percentage= 39.19%
Therefore the common-size percentage for the net fixed assets is 39.19%
XYZ has two divisions: South and West. Overall net operating income is $26,900. South Division's segment margin is $42,800 and West Division's segment margin is $29,900. What is the amount of the common fixed expense not traceable to the individual divisions?
a. $45,800.
b. S56800.
с.$69,700.
d. $72,700.
Answer:
a. $45,800.
Explanation:
The computation of the common fixed expense not traceable is given below
Combined segment margin of two divisions ($42,800 + $29,900) $72,700
Less: net income -$26,900
Non traceable fixed cost $45,800
Hence, the amount of the common fixed expense not traceable to the individual divisions is $45,800
Therefore the option a is correct
Wanda opens a retirement account and starts with a balance of $6,000. One year later she has $6,720 in the account. During the year, the consumer price index increased from 160 to 166.4.
The nominal interest rate is ______________ % and the real interest rate is ____________ %
Consider the following information about production in quarter 1 of 2019.
Firm T produces 600 tires at a cost of $28 each, and sells 580 tires to Firm B at a cost of $37 each.
Firm B produces 290 bicycles at a total of cost of $348 each, and sells 280 bicycles to consumers for $407 each.
In this simple economy, what is the value of inventory investment?
Bob sells his 4 year old carto his cousin Bill. This _____________ count in GDP.
Joy sells her 5 year old car to CarMax. This _____________ count in GDP.
Auto Nation sells used cars for 25% more than they pay for them. This ___________ count in GDP
The nominal and the real interest rate is "12%" and "8%". A further explanation is provided below.
Given:
Future worth,
= $6,720
Present worth,
= $6,000
→ The Nominal interest rate is:
= [tex](\frac{Future \ worth}{Present \ worth})^{1/years} -1[/tex]
= [tex](\frac{6720}{6000} )^1-1[/tex]
= [tex]0.12\times 100[/tex]
= [tex]12[/tex] (%)
Now,
→ The Inflation rate will be:
= [tex]\frac{166.4}{160}-1\times 100[/tex]
= [tex]4[/tex] (%)
hence,
→ The real interest rate will be:
= [tex]Nominal \ rate - Inflation \ rate[/tex]
= [tex]12-4[/tex]
= 18
Thus the above is the right solution.
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ình hình tài sản của Cty SAO KIM, số 7, Lê VănTám , phường 9, Quận 10 tính đến ngày 31/12/2020 như sau :
Đvt: triệu đồng.
Tiền mặt 1,000
Tiền gửi ngân hàng 79,000
Phải trả người bán 110,000
1399Nguyên vật liệu 225,000
Vay ngắn hạn ngân hàng 120,000
Công cụ dụng cụ 5,000
Nguồn vốn kinh doanh 965,000
Lãi chưa phân phối 203,500
Xe tải 100,000
Dây chuyền công nghệ 500,000
Máy móc thiết bị 389,000
Phải thu khách hàng 100,000
Phải trả người lao động X
Yêu cầu:
1. Tìm X.
true or false
1.complex buying behavior is when consumers search for information detals
Answer:
true
Explanation:
Complex buying is when consumers look for details about the product.
Answer:
This is true.
Explanation:
Marketers should have a thorough knowledge of products for customers with complex buying behavior.
Draus Products Company uses activity-based costing to compute product costs for external reports. The company has three activity cost pools and applies overhead using predetermined overhead rates for each activity cost pool. Estimated costs and activities for the current year are presented below for the three activity cost pools.
Estimated Overhead Cost Expected Activity
Activity #1 $60,048 4,800
Activity #2 $58,656 2,400
Activity #3 $130,324 4,400
Actual costs and activities for the current year were as follows.
Actual Overhead Cost Actual Activity
Activity #1 $59,798 4,830
Activity #2 $58,476 2,370
Activity #3 $130,234 4,450
The total amount of the debits to the manufacturing overhead during the year was closest to:__________.
a. $248,508.
b. $248,988.
c. $250,334.
d. $251,110.
Answer:
a. $248,508.
Explanation:
The calculation of the total amount of the debits to the manufacturing overhead during the year is given below:
Total Amount of Debits should be
= Actual Overhead Cost
= $59,898 + $58,476 + $130,324
= $248,508
Hence, the total amount of the debits to the manufacturing overhead during the year is $248,508
Therefore the correct option is a.
what is GDP of a country
Answer:
Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Explanation:
GDP is an acronym for Gross Domestic Products (GDP) and it can be defined as a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
On a related note, Gross Domestic Products (GDP) is a measure of the production levels of any nation.
Basically, the four (4) major expenditure categories of GDP are;
I. Consumption (C).
II. Investment (I).
III. Government purchases (G).
IV. Net exports (N).
In conclusion, GDP is a measure of the total amount of finished goods and services produced by a country.
A provision requiring a construction contractor to pay $300 for every day it is late in completing the construction contract is:
Answer:
liquidated damages provision.
Explanation:
Liquidated damages can be regarded as one that is been presented in some particular legal contracts which is an estimate of otherwise intangible to one of the party or hard-to-define losses. It can be regarded as a provision which give room for the payment of a specified sum in case there is breach of contract by one of the parties. It can be regarded as contractual provision set up so that a party in breach will need to make a payment of pre-determined amount , which serve as compensation for failure by breaching partyin performing particular obligation.
For instance, provision requiring a construction contractor to pay $300 for every day it is late in completing the construction contract is liquidated damages provision.
Consider a coupon bond with a 5% coupon rate. It will mature in one year and its yield to maturity is 10%. If the 1-year interest rate increases to 12% over the course of the year, what is the return on the bond?
Answer:
$95.45
Explanation:
First, we need to calculate the price of the bond using both yields to maturity
Current Price
Use the following formula to calculate the price of the bond
P = ( C x PVAF ) + ( F x PVF )
Where
F =Face value = $1,000
C =Coupon Payment = $1,000 x 5% = $50
PVAF = ( 1 - ( 1 + 10% )^-1 ) / 10% = 0.90909091
PVF = 1 / ( 1 + 10% )^1 = 0.90909091
Placing values in the formula
P = ( $50 x 0.90909091 ) + ( $1,000 x 0.90909091 )
P = $954.55
After 1 Year
The Bond will be matured on this time
At the of Maturity the price of the bond will be equal to the face value
Price of the bond = $1,000
Now calculate the return on the bond
Return on the bond = Coupon Interest + Price appreciation
Where
Coupon Interest = $50
Price appreciation = $1,000 - $954.55 = $45.45
Placing values in the formula
Return on the bond = $50 + $45.45 = $95.45
In a decreasing-cost industry: Group of answer choices greater demand leads to higher long-run equilibrium prices. there will be no firm entry because the increased supply will reduce the long-run equilibrium price. lower demand leads to higher long-run equilibrium prices. the law of demand does not apply.
Answer:
lower demand leads to higher long-run equilibrium prices
Explanation:
In a decreasing cost industry, as new firms enter the industry due to increase in demand for goods produced by the industry, long run average cost curve declines and this causes the cost of production declines because
Conversely, a decrease in demand for goods produced by the industry, would make firms leave the industry. As a result, the long run average cost curve increases and this leads to a rise in the cost of production
In a declining cost industry, the supply curve is downward sloping. thus, the law of supply does not hold
according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
Using the Chipotle example we have discussed in class imagine that all employees are paid $15/hour, the grill costs $300, and each cash register costs $200. All other utensils and items come at zero cost. Applying the principles of business process improvement that we have discussed in class, what is the lowest cost Chipotle can achieve with the highest flow rate
Answer:
The correct answer will be "$620".
Explanation:
It is important to note that certain principles are involved in the process of streamlining business processes, including:
Interpersonal skills of the organizational leaders.Client focus entirely, defined objectives, accuracy, and so on., are encouraged.The lowest cost will be:
= [tex](15\times 8)+300+200[/tex]
= [tex]120+300+200[/tex]
= [tex]620[/tex] ($)
Chipotle can achieve the lowest cost of $ 620 with the highest flow rate. Thus, the correct answer would be "$ 620".
What are the principles of business process improvement?Collect User Information (UX), Customer Information (CX), and Organizational Change Management.Do not think that a change in technology will change your processes.Improve and renovate.End-to-end continuous improvement.The lowest cost can be achieved:
[tex]= (15\times8)+ \$200 + \$300\\\\= \$620[/tex]
Thus, the correct answer is $620, which is the lowest cost chipotle can achieve with the highest flow rate.
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A company's marketing focus changes in which of the following ways when it uses a consumer-focused marketing mix? A business tries to improve relationships with suppliers. A business tries to anticipate supply changes. A business tries to differentiate its products. A business tries to think like its customers.
Answer: A business tries to think like its customers
Explanation:
The consumer focused marketing simply tries to understand the thoughts and the habit of a consumer in their buying habits.
When a company uses a consumer-focused marketing mix, the company's marketing focus changes as the business tries to think like its customers.
This is vital in order to improve sales and improve the revenue of the company.
vai trò của đạo đức trong doanh nghiệp là gì
Explanation:
Đạo đức kinh doanh giúp doanh nghiệp duy trì mối quan hệ tốt hơn và hài hòa với xã hội, khách hàng, nhân viên và các ngành hữu quan. ... Đạo đức kinh doanh có một vai trò quan trọng trong việc nâng cao lợi nhuận và năng suất của doanh nghiệp và cải thiện thiện chí của doanh nghiệp trên thị trường.
đánh dấu tôi là não nhất làm ơn giúp tôi và cảm ơn
Lewis Company's standard labor cost of producing one unit of Product DD is 3.3 hours at the rate of $12.4 per hour. During August, 43,900 hours of labor are incurred at a cost of $12.60 per hour to produce 13,100 units of Product DD.
1. Compute the total labor variance.
2. Compute the labor price and quantity variances.
3. Compute the labor price and quantity variances, assuming the standard is 3.7 hours of direct labor at $12.70 per hour.
Answer:
Compute the total labor variance.
Explanation:
The following transactions occurred during July:
1. Received $900 cash for services provided to a customer during July.
2. Received $2,200 cash investment from Barbara Hanson, the owner of the business.
3. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.
4. Provided services to a customer on credit, $375.
5. Borrowed $6,000 from the bank by signing a promissory note.
6. Received $1,250 cash from a customer for services to be rendered next year.
What was the amount of revenue for July?
Answer:
$1,275
Explanation:
Calculation to determine the amount of revenue for July
Using this formula
Revenue=Cash received for services provided+Services provided customer on credit
Let plug in the formula
Revenue=$900 + $375
Revenue = $1,275
Therefore the amount of revenue for July is $1,275
Bengal Co. provides the following unit sales forecast for the next three months: July August September Sales units 4,800 5,500 5,360 The company wants to end each month with ending finished goods inventory equal to 25% of the next month's sales. Finished goods inventory on June 30 is 1,200 units. The budgeted production units for July are: Multiple Choice 6,000 units. 3,600 units. 6,175 units. 2,400 units. 4,975 units.
Answer: 4,975 units
Explanation:
Budgeted production in July = Sales forecast for July + Ending inventory for July - Beginning inventory
Beginning inventory = 25% of July sales
= 25% * 4,800
= 1,200 units
Ending inventory = 25% of August sales
= 25% * 5,500
= 1,375 units
Budgeted production is therefore:
= 4,800 + 1,375 - 1,200
= 4,975 units
On January 1, 20X1 when the effective interest rate was 14%, a company issued bonds with a maturity value of $1,000,000. The stated rate of interest is 12%, the bonds pay interest semi-annually and sold for $893,640. The amount of bond discount amortized on July 1, 20X1 is approximately:__________.
Answer: $2,555
Explanation:
Bond discount amortization = Interest cost - Coupon payment
Coupon payment = Stated interest * Par value
= 12% * 1,000,000 * 6/12 months
= $60,000
Interest cost = Issue price * effective interest
= 893,640 * 14% * 6/12
= $62,554.80
Amortized amount:
= 62,554.80 - 60,000
= $2,554.80
= $2,555
Merchant Company issued 10-year bonds on January 1. The 6% bonds have a face value of $727,000 and pay interest every January 1 and July 1. The bonds were sold for $604,217 based on the market interest rate of 7%. Merchant uses the effective interest rate method to amortize bond discounts and premiums. On July 1 of the first year, Merchant should record interest expense (rounded to the nearest dollar) of
Answer:
Merchant Company
On July 1 of the first year, Merchant should record interest expense (rounded to the nearest dollar) of:
= $22,472.
Explanation:
a) Data and Calculations:
Face value of bonds = $727,000
Price of bonds = 604,217
Discounts = $122,783
Period of bonds = 10 years
Coupon rate of interest = 6%
Market interest rate = 7%
Payment of interest = Semi-annually (Jan. 1 and July 1)
July 1:
Cash payment = $21,810 ($727,000 * 3%)
Interest based on market rate = 21,148 ($604,217 * 3.5%)
Discount amortization = $662
Interest expense = $22,472 ($21,810 + $662)
On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway paid $330,000 for the machine and is leasing it to Zone for $40,000 per year, an amount that will return 10% to Calloway. The present value of the lease payments is $330,000. The lease payments are due each January 1, beginning in 2021. What is the appropriate interest entry on December 31, 2021
Answer:
Dr Interest receivable $29,000
Cr Interest revenue $29,000
Explanation:
Preparation of the appropriate interest entry on December 31, 2021
December 31, 2021
Dr Interest receivable $29,000
Cr Interest revenue $29,000
[($330,000-$40,000)*10%]
($290,000*10%)
(To record Interest)
Model of media richness
Answer:
Media richness theory states that all communication media vary in their ability to enable users to communicate and to change understanding. ... A primary driver in selecting a communication medium for a particular message is to reduce the equivocality, or possible misinterpretations, of a message.
Answer:
The term "media wealth" was described in 1986 by Richard Daft and Robert Lengel for the first time in the context of the media wealth theory. Media wealth describes the learning density that can be transmitted by a specific communication medium.
Explanation:
Before the growth of electronic communication media, MRT was developed to help managers decide which medium was best suited to communicate a message in business situations.
Rich media, such as conversations and phone calls, were best considered to be not-routine messages, while lean media were considered acceptable to routine messages like unaddressed memoranda.
The media wealth has been extended in the past two decades to cover the strengths and weaknesses of new media – from email to websites, video lectures, voice men, and immediate messages.
In media-rich contexts, humans evolved. Facial communication was the only way to communicate for hundreds of thousands of years living in stable, close-knit social groups. The concept of media choice did not exist until about 5,000 years ago, because it was not one-to-one or nothing apart from smoke signals.
Copy equipment was acquired at the beginning of the year at a cost of $50,320 that has an estimated residual value of $4,600 and an estimated useful life of 5 years. It is estimated that the machine will output an estimated 1,143,000 copies. This year, 288,000 copies were made. a. Determine the depreciable cost. $fill in the blank 1 b. Determine the depreciation rate. Round your answer to two decimal places. $fill in the blank 2 per copy c. Determine the units-of-output depreciation for the year
Answer:
Annual depreciation= $11,520
Explanation:
Giving the following information:
Purchase price= $50,320
Salvage value= $4,600
Estimated copies= 1,143,000
First, we need to calculate the depreciable value:
Depreciable value= purchase price - salvage value
Depreciable value= 50,320 - 4,600
Depreciable value= $45,720
Now, the depreciable rate:
Depreciable rate= depreciable value / /useful life of production in copies
Depreciable rate= 45,720/1,143,000
Depreciable rate= $0.04 per copie
Finally, the annual depreciation:
Number of copies= 288,000
Annual depreciation= 0.04*288,000
Annual depreciation= $11,520
Identify whether each of the following statements best illustrates the concept of consumer surplus, producer surplus, or neither.
Statement Consumer Surplus Producer Surplus Neither
Even though I was willing to pay up to $83 for a watch, I bought a watch for only $75.
I sold a used textbook for $55, even though I was willing to go as low as $47 in order to sell it.
A local store was having a sale on sweaters, so I bought a jersey sweater for my brother.
Answer:
Consumer surplus
producer surplus
neither
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
The willingness to pay for the watch was $83 but the watch was bought for $75. There is a consumer surplus from the purchase
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
The least price the seller was willing to accept for the purchase was $47 but he was paid $55 for the textbook. This is a producer surplus
Multitasking refers to :_____________
a. the skill of coordinating the completion of multiple health projects at the same time.
b. a specific committee structure that allows for various committee members to function in different capacities to conduct committee work.
c. a type of professional preparation that prepares health education students to work in various settings such as schools, public health departments, and corporations.
d. the skill to utilize multiple computer programs at the same time
Answer:
the answer would be d
Explanation:
Multitasking involves overlapping and interleaving the execution of several programs
