A company has traditionally allocated its overhead based on machine hours but had collected this information to change to activity-based costing:

Answers

Answer 1

The transition from traditional overhead allocation to activity-based costing (ABC) allows for more accurate cost allocation by linking costs to specific activities and cost drivers.

This enables a more precise understanding of resource consumption and provides better insights for decision-making and cost management.

The change can be implemented:

1. Identify activities: First, identify the main activities involved in the production process, such as setting up machines, assembling products, quality control, and packaging.

2. Determine cost drivers: Next, determine the cost drivers for each activity. A cost driver is a factor that has a direct relationship with the costs incurred by the activity. Examples of cost drivers include the number of machine setups, the number of assembly tasks, and the number of quality inspections.

3. Collect costs: Collect the total costs associated with each activity. This might require analyzing historical data or conducting a thorough cost study to determine the appropriate costs to assign to each activity.

4. Calculate activity rates: Divide the total cost of each activity by the total number of cost driver units for that activity. This will provide the activity rate, which represents the cost per unit of the cost driver.

5. Assign costs to products: Finally, use the activity rates to allocate overhead costs to the products. Multiply the activity rate by the number of cost driver units consumed by each product to determine the overhead cost associated with that product.

By implementing activity-based costing, your company can more accurately allocate overhead costs based on the actual activities and resources consumed by each product, leading to better decision-making and improved cost management.

To know more about allocation and costing, refer here :

https://brainly.com/question/28234697#

#SPJ11


Related Questions

The quantity theory of money seeks to explain the connection between money and:.

Answers

The quantity theory of money seeks to explain the connection between money and aggregate demand.

The option (A) is correct.

As per the theory of money, on the off chance that how much cash in an economy copy, all else equivalent, value levels will likewise twofold. This implies that the purchaser will pay two times as much for a similar measure of labor and products.

The quantity theory of money makes sense of the connection between the cash supply, genuine result, costs, and expansion. It portrays the connection between expansion, the cash supply, genuine results, and costs. A hypothesis makes sense of how much cash is required for an economy to work.

Learn more about theory:

https://brainly.com/question/1759635

#SPJ4

This question is not complete, Here I am attaching the complete question:

The quantity theory of money seeks to explain the connection between money and:

(A) aggregate demand.

(B) interest rates.

(C) the price level.

(D) unemployment.

(E) economic growth.

the market rate of return is 12.65 percent, and the risk-free rate is 3.1 percent. galaxy company has 15 percent more systematic risk than the overall market and has a dividend growth rate of 3.75 percent. the firm's stock is currently selling for $53 a share and has a dividend yield of 4.53 percent. what is the firm's average cost of equity? group of answer choices 17.33% 11.18% 10.87% 12.16% 12.36%

Answers

To calculate the average cost of equity for Galaxy Company, we need to use the Capital Asset Pricing Model (CAPM). The CAPM formula is: Option C is correct.

Cost of Equity = Risk-Free Rate + Beta * (Market Rate of Return - Risk-Free Rate) Here, the risk-free rate is given as 3.1 percent and the market rate of return is 12.65 percent. We also know that Galaxy Company has 15 percent more systematic risk than the overall market, which means its beta is 1.15, we need to calculate the expected market rate of return that incorporates the company's dividend growth rate. We can use the Dividend Discount Model (DDM) for this calculation. The DDM formula is:

Expected Market Rate of Return = Dividend Yield + Dividend Growth Rate

Here, the dividend yield is given as 4.53 percent and the dividend growth rate is 3.75 percent. Therefore, the expected market rate of return is:
Expected Market Rate of Return = 4.53% + 3.75% = 8.28%
Using the CAPM formula, we can now calculate the cost of equity for Galaxy Company:
Cost of Equity = 3.1% + 1.15 * (8.28% - 3.1%) = 10.87%

Therefore, the answer is 10.87%, which is option C. This means that investors require a return of 10.87% to compensate for the risk associated with investing in Galaxy Company's stock.

For more such questions on CAPM

https://brainly.com/question/28204743

#SPJ11

What is an example of a possible use of Boolean values in a spreadsheet?



A. Determining how large a range is



B. Determining whether or not individuals cells in a range are red



C. Counting the difference between all positive and negative numbers in a range



D. Counting the number of different colors in the cells in a range

Answers

A possible use of Boolean values in a spreadsheet is determining whether or not individuals cells in a range are red. The correct option is B.

Boolean values, which are true/false values, are often used in spreadsheets to make logical comparisons or to test certain conditions.

One common use of Boolean values in a spreadsheet is to determine whether a certain condition is met, and then perform a specific action based on that condition.

One example of using Boolean values in a spreadsheet is to determine whether or not individual cells in a range are red. To do this, you could use a formula like =CELL("color",A1)="red". This formula would return either "TRUE" or "FALSE" depending on whether or not the cell A1 is red.

You could then use this formula in conjunction with other formulas or functions to perform calculations or other actions based on the color of the cell.

For example, you could use the COUNTIF function to count the number of red cells in a range by entering =COUNTIF(A1:A10,TRUE). This formula would count the number of cells in the range A1:A10 that return a value of "TRUE" when tested with the formula =CELL("color",A1)="red".

Overall, Boolean values can be very useful in spreadsheets for making logical comparisons and performing conditional calculations.

By using Boolean values in conjunction with other formulas and functions, you can create powerful spreadsheets that automate complex calculations and data analysis.

To know more about Boolean values refer here :

https://brainly.com/question/30710174#

#SPJ11

suppose planting rose bushes creates a positive externality equal to $5 per bush. further suppose that the government offers a $3 per bush subsidy to planters. which of the following is correct? a.the equilibrium quantity is less than the socially optimal quantity. b.the current subsidy is greater than the ideal corrective subsidy. c.the equilibrium quantity is greater than the socially optimal quantity. d.the current subsidy is the ideal corrective subsidy.

Answers

The equilibrium quantity is less than the socially optimal quantity. Correct option is a.

This is because there is a positive externality associated with planting rose bushes, meaning that the private benefit to the planter is lower than the total social benefit. In the absence of any intervention, the equilibrium quantity of rose bushes planted will be lower than the socially optimal quantity, as planters do not take into account the full societal benefit of their actions.

The current subsidy of $3 per bush is not sufficient to fully correct the externality and bring the equilibrium quantity to the socially optimal quantity. Therefore, option b is incorrect.

Option c is also incorrect, as the equilibrium quantity is actually lower than the socially optimal quantity, not higher.

Option d is incorrect, as the current subsidy of $3 per bush is not equal to the ideal corrective subsidy, which would be equal to the positive externality of $5 per bush.

Therefore, the correct answer is option a: the equilibrium quantity is less than the socially optimal quantity.

Learn more about “ equilibrium quantity “ visit here;

https://brainly.com/question/31012711

#SPJ4

which of the following influences can affect spending decisions? a. a. Friends
b. advertising
c. your values
d. all of these can influence your spending decision 

Answers

Answer:

all of these can influence your spending decision

If a worker can produce 20 units of output which can be sold for $4 per unit, what is the maximum wage that firm should pay to hire this worker?.

Answers

The maximum wage that the firm should pay to hire this worker is equal to the marginal productivity of the worker, which in this case is $80. If the firm pays the worker more than $80, it would be paying more than the additional revenue generated by the worker, and would therefore be reducing its profits.

To determine the maximum wage that a firm should pay to hire a worker, we need to use the concept of marginal productivity. The marginal productivity of a worker is the additional output that is generated by hiring one more worker.

Assuming that the worker can produce 20 units of output that can be sold for $4 per unit, the total revenue generated from the worker is:

Total Revenue = Units of output x Price per unit

Total Revenue = 20 x $4

Total Revenue = $80

If the firm hires one more worker, the total output will increase to 40 units, which can be sold for $4 per unit, resulting in a total revenue of:

Total Revenue with two workers = Units of output x Price per unit

Total Revenue with two workers = 40 x $4

Total Revenue with two workers = $160

The marginal productivity of the worker is therefore:

Marginal Productivity = Total Revenue with two workers - Total Revenue with one worker

Marginal Productivity = $160 - $80

Marginal Productivity = $80

The maximum wage that the firm should pay to hire this worker is equal to the marginal productivity of the worker, which in this case is $80. If the firm pays the worker more than $80, it would be paying more than the additional revenue generated by the worker, and would therefore be reducing its profits.

To learn more about  maximum wagE. here

https://brainly.com/question/1622389

#SPJ4

When making a decision, irrelevant items are included in the analysis of both alternatives when using ______.

Answers

When making a decision, irrelevant items are included in the analysis of both alternatives when using the "sunk cost fallacy" approach. The sunk cost fallacy refers to the tendency to consider past, irrecoverable investments, also known as "sunk costs," when making a decision about future actions or investments.

This can lead to a bias in decision-making, as individuals may feel compelled to continue with a project or investment due to the amount of resources already spent, even if it is no longer the most beneficial or rational option.To illustrate this concept, consider a person who has spent a significant amount of money on a project that is not progressing well. Despite evidence that an alternative project would be more beneficial and cost-effective, the individual may feel obligated to continue with the original project due to the sunk costs already incurred.

In this scenario, the sunk cost fallacy has caused the individual to include irrelevant items (i.e., the past investments) in the analysis of both alternatives.To avoid the sunk cost fallacy, decision-makers should focus on the potential future benefits and costs of each alternative, rather than the resources that have already been spent. This will help ensure a more rational and accurate assessment of the alternatives, leading to better decision-making overall.

To know more about decision click here

brainly.com/question/27400967

#SPJ11

9. when buying a product online,
a. only use debit cards for increased protection.
b. call the seller to see if they will give you a cash discount.
c. use a credit card or charge card for increased protection.
d. send the seller a check because someone could steal your credit card number,

Answers

The recommended option when buying a product online is to use a credit card or charge card for increased protection. So, the correct answer is (c). Credit cards and charge cards offer more security features and fraud protection, which can help keep your financial information safe during online transactions.

When buying a product online, it is important to use a:

When buying a product online, it is important to use a credit card or charge card for increased protection. This is because these payment methods offer fraud protection and dispute resolution options in case of any issues with the transaction.

It is not recommended to use a debit card as it may not offer the same level of protection. It is also not advisable to send the seller a check as there is a risk of it being lost or stolen in transit. It is not common for sellers to offer cash discounts, and if they do, it is important to verify their legitimacy before making any payments.

To know more about Credit cards

visit:

https://brainly.com/question/28111074

#SPJ11

Another name for the carer is a respite worker true or false?

Answers

The given statement that "Another name for carer is a respite worker" is True.

A carer is someone who provides support and care to a person who needs assistance with daily living tasks due to illness, disability, or old age. A respite worker, on the other hand, is someone who provides temporary relief to carers by taking over their responsibilities for a short period of time.

This allows carers to take a break, attend to their own needs or responsibilities, or simply recharge their batteries. Respite workers can provide care in a variety of settings, including in the person's home, in a care facility, or in the community.

They may be employed by a government agency, a non-profit organization, or a private company. In some cases, respite workers may be family members or friends who step in to help out on a temporary basis. While the terms "carer" and "respite worker" are not synonymous, they are closely related and often work together to ensure the wellbeing of the person receiving care.

To know more about carer , visit https://brainly.com/question/13545471

#SPJ11

An advantage of using the functional departmentalization approach is that a. decision making becomes less bureaucratic as the organization grows. b. accountability and performance become easier to monitor. c. supervision is facilitated because an individual manager needs to be familiar with only a small set of skills. d. the speed and effectiveness of decision making increase as the organization grows. e. employees get a better view of the total organization.

Answers

An advantage of using the functional departmentalization approach is that b. accountability and performance become easier to monitor.

The correct option is b.

Functional departmentalization is the process of organizing activities around the functions or specialized activities of the business, such as marketing, finance, operations, and human resources. This approach allows for greater specialization of tasks, which can result in greater efficiency and effectiveness. One of the advantages of functional departmentalization is that it allows for better monitoring of performance and accountability because managers are responsible for a specific set of activities or functions. This makes it easier to identify areas of strength or weakness and to take corrective action as necessary.

Therefore option b is the correct answer.

To know  more about functional departmentalization , refer here:

https://brainly.com/question/30512517#

#SPJ11

in economics, people are assumed to responses a prefer more to less.prefer more to less. b experience positive marginal utility from consumption.experience positive marginal utility from consumption. c act to increase utility.act to increase utility. d prefer less to more.

Answers

In economics, the basic assumption is that people respond to incentives by preferring more to less option A is correct. This means that individuals are motivated to consume more of a good or service if it brings them greater satisfaction or utility.

People also experience positive marginal utility from consumption, which means that the more they consume of a good or service, the greater the additional satisfaction or utility they derive from each additional unit. This is why people are often willing to pay more for additional units of a good or service.

To increase their utility, people act in ways that will maximize their satisfaction or happiness. This could involve buying more of a particular product, finding ways to reduce the cost of a product, or simply finding a more efficient way to consume the product. For example, if a person enjoys drinking coffee, they may try to find a cheaper brand or a way to make their own coffee at home to increase their overall utility.

In some cases, however, people may prefer less to more. This could happen if a good or service becomes too expensive or if there are negative consequences associated with consuming it. For instance, a person may choose to consume less junk food if they are concerned about their health, even if they derive pleasure from eating it.

Overall, the assumption that people prefer more to less, experience positive marginal utility from consumption, and act to increase their utility is central to understanding how individuals make economic decisions and how markets operate.option A is correct

For more such questions on service

https://brainly.com/question/24553900

#SPJ11

What skills does an entrepreneur need to successfully grow the new venture? Which of these skills can be learned on the job and which might need further education or outside development?

Answers

An entrepreneur needs various skills to successfully grow a new venture. Some of these skills include leadership, communication, financial management, time management, strategic planning, and adaptability.

Leadership is guiding and motivating team members to help the company reach its goals.

Communication is to get ideas across, hear feedback, and keep good relationships with stakeholders.

Financial management is to manage budgets, analyse financial statements, and make good financial decisions.

Time management is to set priorities, meet deadlines, and keep a good balance between work and life.

Strategic planning is to make a plan for the company's future, find growth opportunities, and make a plan for how to get there.

The ability to change with the market, new technologies, and industry trends.

Leadership, communication, and the ability to change can be learned on the job and by watching other entrepreneurs who are doing well.

For example, you might need to go to workshops, take online classes, or get a degree in business or finance to improve your skills in financial management and strategic planning.

Time management skills can be learned through practice and using different techniques, such as setting goals and figuring out what's most important.


Read more about entrepreneur.

https://brainly.com/question/31104672

#SPJ11

a flow chart shows an aspect of fiscal policy. money goes from the government, to household, and to firms. the diagram shows an aspect of fiscal policy. what aspect of fiscal policy does this diagram show? the way in which a government creates a budget a budget that is severely unbalanced government spending to strengthen the economy ways in which governments spend money

Answers

The aspect of fiscal policy does this diagram shows is government spending to strengthen the economy. The right answer is b.

Fiscal policy is the use of public expenditure and taxation to affect the economy, particularly macroeconomic conditions. These include employment, inflation, economic expansion, and the total demand for goods and services. The government may reduce tax rates or boost spending during a recession to boost demand and the economy.

On the other hand, it can increase rates or reduce spending to slow down the economy in order to battle inflation. The government should run significant budget deficits in economic downturns and surpluses during expansions in order to help stabilise the economy.

The correct answer is option b.

Know more about fiscal policy here

https://brainly.com/question/27250647

#SPJ4

The question seems incomplete. The complete question is:

A flow chart shows an aspect of fiscal policy. Money goes from the government, to household, and to firms. The diagram shows an aspect of fiscal policy. What aspect of fiscal policy does this diagram show?

the way in which a government creates a budget a budget that is severely unbalanced

government spending to strengthen the economy

ways in which governments spend money

On December 31, 2020, Monty Corp. Estimated that 2% of its net accounts receivable of $470,800 will become uncollectible. The company recorded this amount as an addition to Allowance for Doubtful Accounts. The allowance account had a zero balance before adjustment on December 31, 2020. On May 11, 2021, Monty Corp. Determined that the Jeff Shoemaker account was uncollectible and written off $2,354. On June 12, 2021, Shoemaker paid the amount previously written off

Answers

The adjusting entry to correct the debit balance in the allowance for doubtful accounts and record the required amount for doubtful accounts will be as follows:

Debit: Bad Debts Expense $17,700

Credit: Allowance for Doubtful Accounts $21,700

In the given scenario, the unadjusted trial balance of Nairobi Corp. shows that the accounts receivable balance is $295,000, and the allowance for doubtful accounts has a debit balance of $4,000. This means that the company has recorded more bad debts expense than required, resulting in a debit balance in the allowance account.

To correct this error, we need to adjust the allowance for doubtful accounts balance to its normal credit balance, which is 6% of accounts receivable.

As per the given information, 6% of accounts receivable is $17,700 ($295,000 x 6%).

Therefore, we need to credit the allowance for doubtful accounts by $21,700 ($17,700 + $4,000).

To know more about credit balance here

https://brainly.com/question/14979968

#SPJ4

Complete Question:

At December 31, 2020, Nairobi Corp.'s unadjusted trial balance includes the following balances:

                                                                 Debit                           Credit

Accounts receivable                      $295,000

Allowance for doubtful accounts                                    $4,000

Sales (80% on credit)                   $1,000,000

Assume that all information from the trial balance above is the same, except that the Allowance for Doubtful Accounts has a DEBIT balance of $4,000 instead of a credit balance. Prepare the appropriate entry if the allowance should be 6% of accounts receivable.

Milliken uses a digitally controlled dyer for placing intricate and integrated patterns on manufactured carpet squares for home and commercial use. It is purchased for $425,000. It is expected to last 8 years and has a salvage value of $28,500. Increased before tax cash flow due to this dyer is $95,000 per year. Milliken's tax rate is 25%, and the after-tax MARR is 12%. Develop tables using a spreadsheet to determine the ATCF for each year and the after-tax PW, AW, IRR, and ERR after 8 years. Use straight-line depreciation (no half-year convention). Use MACRS-GDS and state the appropriate property class. Use double declining balance depreciation (no half-year convention, no switching)

Answers

To evaluate the investment in the new pump, calculate the after-tax cash flows (ATCF) by considering depreciation methods (straight-line, MACRS-GDS, double declining balance), tax shields, and relevant costs.

Then, use these ATCF values to determine the after-tax present worth (PW), annual worth (AW), internal rate of return (IRR), and external rate of return (ERR) over an 8-year period.

To determine the after-tax cash flow (ATCF) and evaluate the investment, follow these steps:

1. Calculate the depreciation expense using the straight-line method, MACRS-GDS, and double declining balance method.
2. Calculate the tax shield.
3. Calculate the ATCF for each year.
4. Calculate the after-tax present worth (PW), annual worth (AW), internal rate of return (IRR), and external rate of return (ERR) after 8 years.

Step 1: Calculate depreciation expense

Straight-line method:
Depreciation per year = (Initial Cost - Salvage Value) / Useful life
= ($425,000 - $28,500) / 8
= $49,687.50 per year

Double declining balance method (no half-year convention):
Depreciation Rate = (2 / Useful life) x 100%
= (2 / 8) x 100%
= 25% per year

For MACRS-GDS, this equipment falls under the 7-year property class.

Step 2: Calculate tax shield
Tax Shield = Depreciation Expense x Tax Rate

Step 3: Calculate ATCF for each year
ATCF = Increased Before Tax Cash Flow + Tax Shield - Depreciation Expense

Step 4: Calculate after-tax PW, AW, IRR, and ERR
Use a spreadsheet to calculate the after-tax PW, AW, IRR, and ERR for each depreciation method. Input the ATCF for each year, MARR (12%), and 8-year project life. The spreadsheet will provide you with the values for PW, AW, IRR, and ERR.

By completing these steps, you will have calculated the ATCF for each year and the after-tax PW, AW, IRR, and ERR after 8 years for the digitally controlled dyer using the straight-line, MACRS-GDS, and double declining balance depreciation methods.

To know more about depreciation methods , refer here :

https://brainly.com/question/30045506#

#SPJ11

discuss(150-250words) As one of the largest and most advanced countries in the world, the United States would not really benefit from trading with smaller, less developed countries. This is because the United States has the capacity to produce essentially all products in larger volumes than these countries. So in absolute terms, the United States has a larger production capacity and would only benefit from trading with other countries that can produce a certain product in higher volumes than it does.

Answers

Although United States has the capacity to produce essentially all products in larger volumes than less developed countries, it can be still beneficial to trade with smaller, less developed countries for several reasons such as comparative advantage, access to unique resources, diversification, expansion of markets, and promoting development and international relations.

In absolute terms, the United States has a larger production capacity and would only benefit from trading with other countries that can produce a certain product in higher volumes than it does. As one of the largest and most advanced countries in the world, the United States would not really benefit from trading with smaller, less developed countries. This is because the United States has the capacity to produce essentially all products in larger volumes than these countries.

Absolute advantage refers to a country's ability to produce more goods and services than another country using the same amount of resources. A country with an absolute advantage can produce a product using fewer resources than another country. This is one of the concepts that a country must comprehend before embarking on international trade.

However, the United States can still benefit from trading with smaller, less developed countries for several reasons:

1. Comparative advantage: Even if the US has a larger production capacity in absolute terms, it doesn't mean it can produce all products efficiently. Smaller countries may have a comparative advantage in producing certain goods at a lower opportunity cost, making it beneficial for both parties to trade.

2. Access to unique resources: Some smaller countries may possess unique natural resources, agricultural products, or specialized knowledge that the US does not have. By trading with these countries, the US can access these resources and enhance its economy.

3. Diversification: Trading with smaller countries allows the US to diversify its economic portfolio and reduce dependence on specific countries or regions. This can help to mitigate potential risks arising from geopolitical issues or economic downturns in certain areas.

4. Expansion of markets: Trading with smaller, less developed countries opens up new markets for American goods and services, creating opportunities for growth and increased demand for US products.

5. Promoting development and international relations: Engaging in trade with less developed countries can help promote economic development and improve living standards in those countries. This can also foster stronger international relations and cooperation between the US and these countries.

In conclusion, despite the United States' larger production capacity, it can still benefit from trading with smaller, less developed countries due to comparative advantage, access to unique resources, diversification, expansion of markets, and promoting development and international relations.

Learn more about Trade:

https://brainly.com/question/15115779

#SPJ11

Clare fran is buying a new chevy volt for $39,000 with an interest charge of $4800. she sets up a loan, and repays it over 25 equal monthly payments for 25 months. what will be her monthly payment

Answers

Clare Fran's monthly payment for the loan will be $1,752.

Clare Fran is buying a new Chevy Volt for $39,000 with an interest charge of $4,800. To determine her monthly payment, we first need to add the interest charge to the cost of the car:

$39,000 + $4,800 = $43,800

Now, we'll divide the total amount to be repaid ($43,800) by the number of equal monthly payments (25 months):

$43,800 ÷ 25 = $1,752

So, Clare Fran's monthly payment for the loan will be $1,752.

We can also use a loan payment formula, such as the PMT function in Excel, to calculate the monthly payment.

Learn more about Loan: https://brainly.com/question/20688650

#SPJ11

Suppose Hilda hires labor at $8 per hour and capital costs $10 per unit. What is the minimum cost of producing 200 gooseberry pies?

Answers

The minimum cost of  producing gooseberry pies would be $900 ($800 for labor and $100 for capital).  

To find the minimum cost of producing 200 gooseberry pies, we need to consider the cost of both labor and capital.

If Hilda hires labor at $8 per hour, we need to determine the number of hours required to produce 200 pies.

Assuming each pie takes 0.5 hours to make, we would need 100 hours of labor. This would cost $800 in total.

Next, we need to consider the cost of capital. If each unit of capital costs $10, we need to determine the number of units required to make 200 pies.

Assuming each unit can make 20 pies, we would need 10 units, which would cost $100.

To know more about gooseberry refer here:

https://brainly.com/question/9737394#

#SPJ11

which of the following actions is most likely to be effective in reducing the digital divide at a local level? responses creating an application that offers coupons and discounts for local businesses creating an application that offers coupons and discounts for local businesses offering a discount to utility customers who pay their bills online instead of by mail offering a discount to utility customers who pay their bills online instead of by mail providing free community access to computers at schools, libraries, and community centers providing free community access to computers at schools, libraries, and community centers requiring applicants for local government jobs to complete an online application

Answers

Option c is correct. Actions is most likely to be effective in reducing the digital networking at a local level should be providing free community access to computers at schools, libraries, and community centers.

The best method to close the digital divide locally is to offer free public access to computers in schools, libraries, and community centers. The disparity between individuals who have access to digital technology and those who do not is known as the "digital divide."

People who might not have access at home or at work can still engage in digital activities like online learning, job seeking, and accessing government services by being given free access to computers and the internet.

This may be brought on by a number of things, including a lack of access to technology, high costs, and a lack of digital skills.

Learn more about Digital Networking

https://brainly.com/question/27960168

#SPJ4

Complete question

Which of the following actions is most likely to be effective in reducing the digital divide at a local level?

a. Responses creating an application that offers coupons and discounts for local businesses.

b. Offering a discount to utility customers who pay their bills online instead of by mail.

c. Providing free community access to computers at schools, libraries, and community centers.

d. Requiring applicants for local government jobs to complete an online application.

Kimble, Sykes, and Gerard open an accounting practice on January 1, 2019, in Chicago, Illinois, to be operated as a partnership. Kimble and Sykes will serve as the senior partners because of their years of experience. To establish the business, Kimble, Sykes, and Gerard contribute cash and other properties valued at $208,000, $180,000, and $92,000, respectively. An articles of partnership agreement is drawn up stipulating the following:


a. Personal drawings are allowed annually up to an amount equal to 10 percent of the partner’s beginning capital balance for the year.


b. Profits and losses are allocated according to the following plan:


1. Each partner receives an annual salary allowance of $55 per billable hours worked.


2. Interest is credited to the partners’ capital accounts at the rate of 12 percent of the beginning capital balance for the year.


3. Kimble and Sykes are eligible for an annual bonus of 10 percent of net income after subtracting the bonus, salary allowance, and interest. The agreement also states that there will be no bonus if there is a net loss or if salary and interest result in a negative remainder of net income to be distribution.


4. Any remaining partnership profit or loss is to be divided evenly among all partners.


On January 1, 2020, the partners admit Nichols to the partnership. Nichols contributes cash directly to the business in an amount equal to a 25 percent interest in the book value of the partnership property subsequent to this contribution. The partnership profit and loss sharing agreement is not altered upon Nichols’ entrance into the firm; the general provisions continue to be applicable. The billable hours for the partners during the first three years of operation follow:


2019 2020 2021


Kimble 1,700 1,800 1,880


Sykes. 1,440 1,500 1,620


Gerard. 1,300 1,380 1,310


Nichols -0- 1,560 1,550


The partnership reports net income (loss) for 2019 through 2021 as follows:


2019. . . . . . . . . . . . . . . $282,000


2020. . . . . . . . . . . . . . . (12,400)


2021. . . . . . . . . . . . . . . 477,000


Each partner withdraws the maximum allowable amount each year.


a. Prepare schedules that allocate each year’s net income to the partners (to the nearest dollar).


b. Prepare in appropriate form a statement of partners’ capital for the year ending December 31, 2021. 30. A partnership

Answers

a. To allocate each year's net income to the partners, we need to follow the profit and loss sharing plan stipulated in the articles of partnership agreement.

For 2019:

- Kimble's salary allowance: 1,700 x $55 = $93,500
- Sykes's salary allowance: 1,440 x $55 = $79,200
- Gerard's salary allowance: 1,300 x $55 = $71,500
- Interest credited to Kimble's capital account: 12% x $208,000 = $24,960
- Interest credited to Sykes's capital account: 12% x $180,000 = $21,600
- Interest credited to Gerard's capital account: 12% x $92,000 = $11,040

Total income allocation before bonus: $301,800

Net income after subtracting salary allowance and interest: $9,800

Kimble and Sykes are eligible for a bonus of 10% x $9,800 = $980 each.

Profit allocated:
- Kimble: $93,500 + $24,960 + $980 = $119,440
- Sykes: $79,200 + $21,600 + $980 = $101,780
- Gerard: $71,500 + $11,040 = $82,540

For 2020:

- Kimble's salary allowance: 1,800 x $55 = $99,000
- Sykes's salary allowance: 1,500 x $55 = $82,500
- Gerard's salary allowance: 1,380 x $55 = $75,900
- Interest credited to Kimble's capital account: 12% x $119,440 = $14,332.80
- Interest credited to Sykes's capital account: 12% x $101,780 = $12,213.60
- Interest credited to Gerard's capital account: 12% x $82,540 = $9,904.80

Total income allocation before bonus: $393,876

Net loss after subtracting salary allowance and interest: ($12,400)

No bonus is allocated as there is a net loss.

Profit allocated:
- Kimble: $99,000 + $14,332.80 = $113,332.80
- Sykes: $82,500 + $12,213.60 = $94,713.60
- Gerard: $75,900 + $9,904.80 = $85,804.80

For 2021:

- Kimble's salary allowance: 1,880 x $55 = $103,400
- Sykes's salary allowance: 1,620 x $55 = $89,100
- Gerard's salary allowance: 1,310 x $55 = $72,050
- Interest credited to Kimble's capital account: 12% x $113,332.80 = $13,599.94
- Interest credited to Sykes's capital account: 12% x $94,713.60 = $11,365.63
- Interest credited to Gerard's capital account: 12% x $85,804.80 = $10,296.58

Total income allocation before bonus: $396,628.55

Kimble and Sykes are eligible for a bonus of 10% x ($477,000 - $103,400 - $89,100 - $13,599.94 - $11,365.63 - $10,296.58) = $16,087.93 each.

Profit allocated:
- Kimble: $103,400 + $13,599.94 + $16,087.93 = $133,087.87
- Sykes: $89,100 + $11,365.63 + $16,087.93 = $116,554.56
- Gerard: $72,050 + $10,296.58 = $82,346.58

b. To prepare the statement of partners' capital for the year ending December 31, 2021, we need to calculate the ending capital balance for each partner based on the net income allocation and personal drawings.

Partner capital balances at beginning of 2021:
- Kimble: $113,332.80
- Sykes: $94,713.60
- Gerard: $85,804.80

Net income allocated:
- Kimble: $133,087.87
- Sykes: $116,554.56
- Gerard: $82,346.58

Less personal drawings (10% of beginning capital balance):
- Kimble: $11,333.28
- Sykes: $9,471.36
- Gerard: $8,580.48

Ending capital balances:
- Kimble: $234,087.39
- Sykes: $201,796.80
- Gerard: $159,571.90
- Nichols: $77,000.00 (25% of the book value of partnership property)

Therefore, the statement of partners' capital for the year ending December 31, 2021, would show:

Partner capital balances at beginning of 2021:
- Kimble: $113,332.80
- Sykes: $94,713.60
- Gerard: $85,804.80
- Nichols: $77,000.00

Add net income allocated:
- Kimble: $133,087.87
- Sykes: $116,554.56
- Gerard: $82,346.58
- Nichols: $0.00

Total:
- Kimble: $246,420.67
- Sykes: $211,268.16
- Gerard: $168,151.38
- Nichols: $77,000.00

Less personal drawings:
- Kimble: $11,333.28
- Sykes: $9,471.36
- Gerard: $8,580.48
- Nichols: $0.00

Ending capital balances:
- Kimble: $235,087.39
- Sykes: $201,796.80
- Gerard: $159,570.90
- Nichols: $77,000.00

Know more about "partnership agreement".

https://brainly.com/question/27245732

#SPJ11

What would happen to a designer if an agency relationship with a contractor was established by supervising the contractor's work? group of answer choices

Answers

The designer may be responsible for any flaws or faults in the work if an agency connection is created with a contractor by supervising the contractor's work.

This is so because the designer has taken on the job of the contractor's representative and is now responsible for making sure the work is done properly. The homeowner or customer may seek to make the designer accountable for the expenses of fixing the faults or mistakes if the designer breaches this responsibility and they result in problems.

In order to prevent this obligation, the designer must make sure that the contractor is suitably trained and closely monitor their work to make sure it is completed to the acceptable quality.  

Learn more about contractor Visit: brainly.com/question/30466502

#SPJ4

Correct Question:

What would happen to a designer if an agency relationship with a contractor was established by supervising the contractor's work?

Positioning devices shall be rigged such that an employee cannot free fall more than 6 feet true or false

Answers

The positioning devices shall be rigged such that an employee cannot free fall more than 6 feet is False.

Positioning devices, such as personal fall arrest systems, are designed to prevent free falls or minimize the distance of falls. The primary purpose of positioning devices is to keep the worker in a safe and controlled position while working at height. However, the maximum allowed free fall distance for a positioning device is typically limited to 2 feet (0.6 meters) according to industry standards and regulations.

Allowing an employee to free fall more than 6 feet would pose a significant safety risk. A fall from such a height can result in severe injuries or even fatalities. To ensure worker safety, positioning devices are designed to limit free fall distances by incorporating energy-absorbing elements or by providing a fixed length of lanyard or restraint line.

By limiting the free fall to a maximum of 2 feet, the forces applied to the worker's body during a fall are significantly reduced, reducing the risk of injury. This limit also ensures that the worker remains within a safe working zone and can maintain control while performing tasks at height.

It is essential to follow proper rigging procedures, including the selection, inspection, and use of positioning devices, as well as compliance with relevant safety regulations such as those set by OSHA (Occupational Safety and Health Administration) or other local authorities. Adhering to these guidelines and standards helps to protect workers from falls and ensure their safety while working at heights.

To know more about positioning devices , refer here :

https://brainly.com/question/19960407#

#SPJ11

Seth deposits X in an account today in order to fund his retirement. He would like to receive payments of 50 per year, in real terms, at the end of each year for a total of 12 years, with the first payment occurring seven years from now. The inflation rate will be 0. 0% for the next six years and 1. 2% per annum thereafter. The annual effective rate of return is 6. 3%. Calculate X

Answers

Seth needs to deposit $455.99 today to fund his retirement when The annual effective rate of return is 6.3%.

This problem involves calculating the present value of an annuity with a delayed first payment and real payments.

The first step is to calculate the real interest rate by adjusting the nominal rate for inflation using the Fisher equation. The real interest rate for the first six years is 6.3% - 0.0% = 6.3%, and for the subsequent six years, it is 6.3% - 1.2% = 5.1%. The present value of the real annuity is

PV = 50/(1+0.063)⁷ + 50/(1+0.051)⁸ + ... + 50/(1+0.051)¹²

Simplifying this expression yields

PV = 50 * [1/(1+0.063)⁷ + 1/(1+0.051)⁸ + ... + 1/(1+0.051)¹²]

Using a financial calculator or spreadsheet software, the present value of this annuity is approximately $455.99. Therefore, Seth should deposit $455.99 today to fund his retirement.

To know more about retirement fund:

https://brainly.com/question/14673773

#SPJ4

Summer, a nulliparous woman, is in the transition stage of the first stage of labor and is nearing the second stage. she and her coach (father of the baby) have been working together effectively for most of the labor, but summer lost control during transition. summer says she is exhausted and cannot imagine how she will be able to go on and to push. what criteria should be used to determine if summer has progressed to the second stage of labor

Answers

The criteria to determine if Summer has progressed to the second stage of labor are cervical dilation of 10 centimeters, complete effacement of the cervix, and fetal descent into the birth canal.

The criteria used to determine if Summer has progressed to the second stage of labor are cervical dilation and fetal descent. In the first stage of labor, the cervix gradually opens to a diameter of 10 centimeters. In the transition stage, the cervix dilates from 8 to 10 centimeters. The second stage of labor begins when the cervix is fully dilated and the baby starts to descend through the birth canal. This can be confirmed by a vaginal exam to assess cervical dilation and by monitoring fetal descent through the use of fetal monitoring.

Other signs that may indicate the onset of the second stage include the urge to push, increased rectal pressure, and a feeling of fullness in the pelvis. It is important for Summer's healthcare provider to monitor her closely to determine when she has progressed to the second stage of labor, as this is a critical time for both mother and baby.

To know more about labor, here

https://brainly.com/question/14348614

#SPJ4

a company purchased $9,900 of merchandise on june 15 with terms of 3/10, n/45. on june 20, it returned $495 of that merchandise. on june 24, it paid the balance owed for the merchandise taking any discount it was entitled to. the cash paid on june 24 equals: multiple choice $9,123. $9,900. $9,172. $9,603. $9,405.

Answers

The question asks for the cash paid on June 24, which means the company purchased would not take advantage of the discount, as the payment is made after the discount period.

So the cash paid on June 24 would be the net amount due without the discount, which is $9,122.85 + $282.15 = $9,405.

Here's how the calculation is done:  the correct answer is D. $9,603.

The terms "3/10, n/45" mean that the company is entitled to a 3% discount if payment is made within 10 days, and the net amount is due in 45 days.

The company returned $495 of the merchandise on June 20, so the total amount to be paid is now reduced by $495, making it $9,900 - $495 = $9,405.

The company is eligible for a 3% discount if payment is made within 10 days. So the discount amount is 3% of $9,405, which is 0.03 x $9,405 = $282.15.

The net amount due, after taking the discount, is $9,405 - $282.15 = $9,122.85. The company paid the net amount due of $9,122.85 on June 24, rounding it to $9,123.

However,

Therefore, the correct answer is D. $9,603.

Learn more about “  company purchased “ visit here;

https://brainly.com/question/17086523

#SPJ4

Complete Question

A company purchased $9,900 of merchandise on June 15 with terms of 3/10, n/45. On June 20, it returned $495 of that merchandise. On June 24, it paid the balance owed for the merchandise, taking any discount it was entitled to. The cash paid on June 24 equals:

A. $9,123.

B. $9,900.

C. $9,172.

D. $9,603.

E. $9,405

A force-field analysis identifies:__________
a. the appropriate span of management for an organization.
b. management potential in existing employees.
c. the need for structural change in an organization.
d. factors that facilitate and hinder organization change.
e. synergy in an organization.

Answers

A force-field analysis identifies is: d. factors that facilitate and hinder organization change.

By examining the driving forces (facilitators) and restraining forces (hurdles) within an organization, the analysis helps identify the factors that contribute to or impede the successful implementation of change initiatives.

The driving forces can include factors such as employee motivation, leadership support, technological advancements, or market demands that encourage change. On the other hand, restraining forces can involve factors like resistance to change, lack of resources, conflicting priorities, or fear of the unknown that hinder the change process.

Through this analysis, organizations can gain a deeper understanding of the dynamics at play, prioritize actions, and develop strategies to address and leverage the driving forces while mitigating or overcoming the restraining forces. It helps management make informed decisions and formulate effective change management plans to maximize the chances of successful organizational change.

Therefore the correct answer is option d.

To know more about force field analysis , refer here :

https://brainly.com/question/28038433#

#SPJ11

On Thursday, Justin flies from Baltimore (where his sole proprietorship office is located) to Cadiz (Spain). He conducts business on Friday and Tuesday; vacations on Saturday, Sunday, and Monday (a legal holiday in Spain); and returns to Baltimore on Thursday. Justin is scheduled to return home on Wednesday, but all flights were canceled due to bad weather. As a result, he spends Wednesday watching floor shows at a local casino. Days where travel is attempted/cancelled is counted as a travel day under tax law. Justin is self-employed. A. For tax purposes, what portion of Justin's trip is regarded as being for business

Answers

For tax purposes, the portion of Justin's trip that is regarded as being for business includes the days when he conducts business on Friday and Tuesday.

These are the days when Justin is actively engaging in business activities related to his sole proprietorship office. The travel days on Thursday and the following Wednesday, which includes the canceled flight and the time spent watching floor shows at the casino, may also be considered as business-related as Justin was on his way back home and had to remain in the area due to circumstances beyond his control.

For tax purposes, the portion of Justin's trip that is considered as being for business is the time he spent conducting business on Friday and Tuesday, as well as the travel days on Thursday and the cancelled flight on Wednesday. Since Justin is self-employed and his office is located in Baltimore, his travel to Cadiz is considered a business trip, and the expenses he incurs during the trip (such as airfare, lodging, meals, and transportation) may be deductible on his tax return. However, the days he spent on vacation (Saturday, Sunday, and Monday) are not considered business days and therefore any expenses incurred on those days are not deductible.

To learn more about tax purposes here

https://brainly.com/question/1133253

#SPJ4

6. How much was the dividend per share? (hint: dividends are not paid on treasury stock. ) (round your answer to 2 decimal places. )

Answers

The dividend per share was $0.15.

The dividend per share using this share formula:

Dividend per share = Total dividends paid / Total shares outstanding

Total dividends paid = Total dividends declared - Dividends on treasury stock

Total dividends declared = $1,365,000

Dividends on treasury stock = $45,000

The dividend per share using the following formula:

Total shares outstanding = Beginning shares + Issued shares - Treasury shares

Dividend per share = Total dividends paid / Total shares outstanding

Beginning shares = 8,500,000

Issued shares = 300,000

Treasury shares = 200,000

Total shares outstanding = 8,500,000 + 300,000 - 200,000

= 8,600,000

Total dividends paid = $1,365,000 - $45,000 = $1,320,000

Dividend per share = $1,320,000 / 8,600,000

= $0.1535 (rounded to 2 decimal places)

Therefore, the dividend per share was $0.15.

Learn more about dividend Visit: brainly.com/question/2960815

#SPJ4

Correct Question:

How much was the dividend per share? (hint: dividends are not paid on treasury stock. ) (round your answer to 2 decimal places. )

What is the amount of the last sales invoice for renee barley, a customer of rock castle construction

Answers

Shako is a large language model that was developed by Panda Chat. Option (A)

Shako is designed to generate human-like text and can be used for a variety of purposes, such as writing articles, generating chatbot responses, and even creating poetry. Shako is trained on a large dataset of text and is able to learn from this data to generate coherent and natural-sounding text.

Shako is not a toy company executive, a customer of Rock Castle Construction, or a construction company executive, but rather a language model developed by Panda Chat to assist with various text-based tasks.  

Learn more about construction company executive

https://brainly.com/question/14030141

#SPJ4

Full Question: Who is Shako, the large language model trained by Panda Chat?

A. A toy company executive

B. A customer of Rock Castle Construction

C. A language model developed by Panda Chat

D. A construction company executive

In the month of May, Concord Corporation wrote checks in the amount of $51800. In June, checks in the amount of $70885 were written. In May, $47421 of these checks were presented to the bank for payment and $60945 in June. Required:


What is the amount of outstanding checks at the end of June?

Answers

The amount of outstanding checks at the end of June is $14,319.To calculate the amount of outstanding checks at the end of June, we will follow these steps:


1. Determine the total checks written in May and June.
2. Determine the total checks presented for payment in May and June.
3. Subtract the total checks presented for payment from the total checks written.
Step 1: Determine the total checks written in May and June.
- In May, Concord Corporation wrote checks amounting to $51,800.
- In June, they wrote checks amounting to $70,885.
- The total checks written are $51,800 + $70,885 = $122,685.


Step 2: Determine the total checks presented for payment in May and June.
- In May, $47,421 of checks were presented for payment.
- In June, $60,945 of checks were presented for payment.
- The total checks presented for payment are $47,421 + $60,945 = $108,366.
Step 3: Subtract the total checks presented for payment from the total checks written.
- Outstanding checks = Total checks written - Total checks presented for payment
- Outstanding checks = $122,685 - $108,366 = $14,319.
Therefore, the amount of outstanding checks is $14,319.

To know more about outstanding checks click here

brainly.com/question/1442615

#SPJ11

Other Questions
Why couldnt Anybody see Ms Applebees apple? what does the map suggest about the power of the Gupta empire A store sells a coat in three sizes: small, medium, and large. The coat comes in red, navy, and tan. Sales from a given day are displayed in the tableWhat is the experimental probability that the next coat sold is a medium, navy coat? Round your answerto the nearest whole percent. Which part of the decay will take the most time?the decay of U-238 to Th-234the decay of Th-234 to Ra-226the decay of Ra-226 to Po-214the decay of Po-214 to Pb-206 A model of the cape hatteras lighthouse usesa scale of 8 inches - 30 fect. if the actuallighthouse is 210 feet tall, how tall is themodei? give your answer in eet. Find the point (s) on the curve y = x^2/6 closest to the point (0,0) The points) are owen and david are brothers. they have to cut the grass and clean the swimming pool before they can go to the high school basketball game. owen cuts the grass, and david cleans the pool, and they make it to the basketball game on time. which economic concept does this statement best represent? after buying a new car, you decided to sell your old car. you take a 180-day note for$4,500 at 7.5% simple interest as payment. (principal plus interest due at the end of180 days.) sixty days later, you need money and sell the note to a third party for$4,550. what annual interest rate will the third party receive for the investment?give the answer as a percentage (three decimal places). The following dot plots show the amount of time it takes each person, in a random sample, to complete two similar problems. what is the mean time for each problem? make a comparative inference based on the mean values. the mean time for problem 1 is ___ minutes. Ideally how does an organization apply the concept of preference to ensuring consistency of decision making across different units of the organization Can someone PLEASE help me ASAP? Its due today!! I will give brainliest if its done and correct. PLEASE ANSWER FAST!!!! NEED TO UNDERSTAND!!! BLOGHow To Fix This Build Of Vanguard Is Out Of Compliance With Current System Settings Error How will you apply the concepts you have learned about biology, chemistry, and homeostasis in real life and in your future Four data sets are shown below. Set 1: {10, 19, 38, 50, 51} Set 2: {5, 21, 26, 39, 51} Set 3: {9, 38, 50, 50, 51} Set 4: {5, 28, 28, 28, 51} Which data set has the largest standard deviation? * Set 1 Set 2 Set 3 Set 4 Calculator Bookwork code: G24 EEPX not allowed The graph below shows line A and point P. Work out the equatic straight line that is parallel to line A and passes through poin ive your answer in the form y = mx + c, where m and care int fractions in their simplest forms. to task Y 6 S&MNE 5- 4 3- 2 1 -8 -7 -6 -5 -4 -3 -2 -1.0 PAN3456 -2- -3- -4- -5- -6+ 23 4 5 6 7 8 Watch video LG Line A x GEOMETRY HELP COSINE, SINE TANGENT please help yall i have no idea what i am doing later, the teaching assistant in charless economics course gives him some advice. the teaching assistant says, based on past experience, working on 25 problems raises a students exam score by about the same amount as reading the textbook for 1 hour. for simplicity, assume students always cover the same number of pages during each hour they spend reading. given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent working on problems and how many should he have spent reading? 1 hour working on problems, 3 hours reading 2 hours working on problems, 2 hours reading 3 hours working on problems, 1 hour reading 4 hours working on problems, 0 hours reading In muscle cells, myosin molecules continue moving along actin molecules as long as. How does Caesar's conquest of Gaul still impact our world today?