Answer:
Dominican Sugar Company
1. Differential Analysis as of March 24:
Raw Sugar Refined Sugar
Alternative 1 Alternative 2 Difference
Sales volume 42,000 33,600
Selling price per pound $1.40 $2.20
Sales revenue $58,800 $73,920 $15,120
Materials requirement 100,000 42,000
Output from process 42,000 33,600
Unit cost $0.35
Cost of materials $35,000 $35,000
Cost of further refining $21,000
Total costs $35,000 $56,000 ($21,000)
Net income $23,800 $17,920 ($5,880)
2. Based on cost implications, Dominican Sugar should not refine the raw sugar further. Further refining will cause the company $5,880 in lost income. This means that it costs more to refine the raw sugar.
Explanation:
a) Data and Calculations:
Raw Sugar Refined Sugar
Alternative 1 Alternative 2
Sales volume 42,000 33,600 (42,000/1.25)
Selling price per pound $1.40 $2.20
Sales revenue $58,800 $73,920
Materials requirement 100,000 42,000
Output from process 42,000 33,600 (42,000/1.25)
Unit cost $0.35
Cost of materials $35,000 $35,000
Cost of further refining $21,000 (42,000 * $0.50)
Total costs $35,000 $56,000
Net income $23,800 $17,920
When you seek to define an issue, you should try to frame it in positive terms.
Please select the best answer from the choices provided
T or F
The Cole Beverage Company (CBC) has a soft drink product that has a constant annual demand of 3,600 cases per year. A case of this soft drink product from Supplier A costs CBC $4 and carrying cost is charged at 25% of purchase cost (that is, $1 per case per year). Ordering costs are estimated to be $32 per order placed. Based on these information, the Economic Order Quantity (EOQ) for this soft drink product is a. 480 b. 240 c. 120 d. Not enough information given to answer this question
Answer:
a. 480
Explanation:
The computation of the economic order quantity is given below:
[tex]EOQ = \sqrt{\frac{2\times annual \ demand \times ordering\ cost }{carrying \ cost}} \\\\= \sqrt{\frac{2\times 3600\times \$32}{\$1} }[/tex]
= 480 units
The carrying cost could be determined below:
= $4 × 25%
= $1
hence, the carrying cost is $1
Therefore the economic order quantity is 480
Thus, the correct option is a.
Hsu Company manufactures two products (A and B) from a joint process that cost $200,000 for the year just ended. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Further information follows. If Processed Further Product Pounds Produced Per-Pound Sales Price Sales Value Separable Cost A 20,000 $ 12 $ 350,000 $ 90,000 B 30,000 8 300,000 60,000 If the joint costs are allocated based on the net-realizable-value method, the amount of joint cost assigned to product A would be:
Answer:
$80,000
Explanation:
Calculation to determine the amount of joint cost assigned to product A would be:
Joint cost assigned to product A =20,000 ÷(20,000 + 30,000)] x $200,000
Joint cost assigned to product A = $80,000
Therefore The the amount of joint cost assigned to product A would be:$80,00
11. ABC Co. leased a portion of its store to another company for eight months beginning on October 1, 2004. This other company paid the entire rent of $6,400 cash on October 1, which ABC Co. recorded as unearned revenue. The journal entry made by ABC Co. at year- end on December 31, 2004 would include: A) A debit to Rent Earned for $2,400. B) A credit to Unearned Rent for $2,400. C) A debit to Cash for $6,400. D) A credit to Rent Earned for $2,400. E) A debit to Unearned Rent for $4,000.
Answer and Explanation:
The journal entry is shown below:
Unearned revenue Dr ($6,400 × 3 months ÷ 8 months) $2,400
To revenue $2,400
(Being unearned revenue is recorded)
Here the unearned revenue is debited as it decreased the liabilities and revenue is credited as it increased the revenue
The same would be relevant
A tire manufacturer has three different models that it sells. The anticipated payoff is dependent on the type sold and the level of demand.
Scenarios
Alternatives Low demand Medium demand High demand
All season $227,656 $365,000 $170,000
All terrain $260,470 $425,000 $400,000
Winter $-183,404 $238,000 $790,000
Probability 0.35 0.40 0.25
Requied:
What is the EMV for the all season tires?
Answer:
The EMV for the all season tires is:
= $268,180.
Explanation:
a) Data and Calculations:
Scenarios
Alternatives Low demand Medium demand High demand
All season $227,656 $365,000 $170,000
All terrain $260,470 $425,000 $400,000
Winter $-183,404 $238,000 $790,000
Probability 0.35 0.40 0.25
EMV for All Season Tires:
Scenarios Payoff Probability Expected Value
Low demand $227,656 0.35 $79,680
Medium demand $365,000 0.40 146,000
High demand $170,000 0.25 42,500
Total EMV = $268,180
The following information relates to the only product sold by Mastrolia Manufacturing. Sales price per unit $ 45 Variable cost per unit 27 Fixed costs per year 252,000 a. Compute the contribution margin ratio and the dollar sales volume required to break even. b. Assuming that the company sells 20,000 units during the current year, compute the margin of safety (in dollars).
Answer:
a. 40 % and $630,000
b. $ 270,000
Explanation:
The contribution margin ratio = Contribution ÷ Sales
The dollar sales volume required to break even = Fixed Cost ÷ contribution margin ratio
the margin of safety (in dollars) - company sells 20,000 units = Expected Sales - Break even Sales
Onslow Co. purchased a used machine for $240,000 cash on January 2. On January 3, Onslow paid $8,000 to wire electricity to the machine and an additional $1,600 to secure it in place. The machine will be used for six years and have a $28,800 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of sed machine. Prepare journal entries to record the machine’s disposal under each separate situation: (a) it is sold for $24,500 cash; (b) it is sold for $98,000 cash; and (c) it is destroyed in a fire and the insurance company pays $35,000 cash to settle the loss claim.
Answer and Explanation:
The journal entries are shown below:
Cash $24,500
Accumulated dep (36800 × 5) $184,000
loss on sale of machine $41,100
To Machine $249,600
(being the sale of the machine is recorded)
Cash $98,000
Accumulated dep (36800 × 5) $184,000
To Machine $249,600
To gain on sale of machine $32,400
(being the sale of the machine is recorded)
Cash $35,000
Accumulated dep (36800 × 5) $184,000
loss on sale of machine $30,600
To Machine $249,600
(being the sale of the machine is recorded)
Working note:
Accumulated depreciation
= ($240,000 + $8,000 + $1,600 - $28,800) ÷6 years
= $36,800
Terps Company pays its employees monthly. The payroll information listed below is for January 2021, the first month of the fiscal year. Assume none of the employees' earnings reached $7,000 during the month. Salaries $ 80,000 Federal income taxes to be withheld 16,000 Federal unemployment tax rate (FUTA) 0.80 % State unemployment tax rate (after FUTA deduction) 5.40 % Social security tax rate 6.2 % Medicare tax rate 1.45 % The journal entry to record payroll for the January 2021 pay period will include a debit to payroll tax expense of:
Answer: $11080
Explanation:
The payroll tax expense will be calculated thus:
Social security tax = $80000 × 6.2% = $4960
Add: Medicare tax = $80000 × 1.45% = $1160
Add: Federal unemployment tax = $80000 × 0.80% = $640
Add: State unemployment tax = $80000 × 5.40% = $4320
Payroll tax expense = $11080
The journal entry to record payroll for the January 2021 pay period will include a debit to payroll tax expense of $11080.
On December 31, 2009, Beam, Inc., borrowed $650,000 on an 8%, 10-year mortgage note payable. The note is to be repaid in equal quarterly installments of $23,761 (beginning March 31, 2010). Prepare journal entries to reflect (a) the issuance of the mortgage note payable, (b) the payment of the first installment on March 31, 2010, and (c) the payment of the second installment on June 30, 2010. Round amounts to the nearest dollar.
Answer:
Part a
Date - December 31, 2009
Debit : Cash $650,000
Credit : Mortgage note payable $650,000
Part b
Date - March 31, 2010
Debit : Mortgage note payable $10,761.00
Debit : Interest expense $13,000.00
Credit : Cash $23,761.00
Part c
Date - June 30, 2010
Debit : Mortgage note payable $10,976.22
Debit : Interest expense $12,784.78
Credit : Cash $23,761.00
Explanation:
At inception the Mortgage is initially measured at Fair Value, that is at the amount given by the Lender.
Mortgage payments would then include interest payments and capital repayments.
Preparing an amortization schedule would give us all the details required for this Mortgage.
Using a financial calculator, first set the data as follows :
PV = $650,000
I = 8%
P/YR = 4
N = 10 x 4 = 40
PMT = - $23,761
FV = $0
Then, prepare the amortization schedule for the mortgage note payable.
Date Capital Repayment Interest Payment Balance
Dec 31 - 09 $ 0 $ 0 $650,000.00
Mar 31 - 10 $10,761.00 $13,000.00 $639,239.00
June 30 - 10 $10,976.22 $12,784.78 $628,262.78
Explain the purposes for which of control accounts are
prepared in a business organization
The purpose of the control account is to keep the general ledger nice and clean without any details, yet contain the correct balances to be used in the financial statements.
Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.46 million. The fixed asset falls into the three-year MACRS class. The project is estimated to generate $2,000,000 in annual sales, with costs of $711,000. The project requires an initial investment in net working capital of $220,000, and the fixed asset will have a market value of $300,000 at the end of the project.
1. If the tax rate is 35 percent, what is the project's Year 0 net cash flow?
2. If the required return is 16%, what is the project's NPV?
Answer:
1) initial outlay = $2,460,000 + $220,000 = $2,680,000
2)
depreciation expense year 1 = $819,918
depreciation expense year 2 = $1,093,470
depreciation expense year 2 = $364,326
book value at end of year 3 = $182,286
net cash flow year 1 = [($2,000,000 - $711,000 - $819,918) x 0.65] + $819,918 = $1,124,821.30
net cash flow year 2 = [($2,000,000 - $711,000 - $1,093,470) x 0.65] + $1,093,470 = $1,220,564.50
net cash flow year 3 = [($2,000,000 - $711,000 - $364,326) x 0.65] + $364,326 = $965,364.10
terminal value (year 3) = [($182,286 - $300,000) x .65] + $220,000 = $143,485.90
NPV = -$92,854.95
Bailey Furniture Company has prepared the following flexible budget for April and is in the process of interpreting the variances. F denotes a favorable variance and U denotes an unfavorable variance. Flexible Budget Price Variance Efficiency Variance Material A $50,000 $2,600 F $4,200 U Material B $78,000 $1,500 U $2,900 F Direct manufacturing labor $95,000 $1,200 U $3,700 F The most likely explanation of the above direct manufacturing labor variances is that
Answer:
See notes below
Explanation:
Rate variance
The rate variance is the the difference between the standard labor cost of the actual hours paid for and the actual cost.
Possible reasons:
An increase in wage rate
Skilled workers were as against using the unskilled workers planned for
Efficiency variance
Labour efficiency variance is the difference between the actual time taken to achieve a given production output less the standard hours allowed for same multiplied by the standard labour rate
Possible reasons:
The use of skilled workers who worked faster than the unskilled workers planed for
The workers were trained making them more efficient in saving time
Who is responsible for protecting the environment?
a.
Government
b.
Employers
c.
Employees
d.
Everyone
Answer:
Answer D
Explanation:
Please give brainliest :D
what is the starting salary of an entry level librarian? it could hour wage or yearly.
Answer:
$46k–84kper year
Explanation:
Answer:
Which city, though?
Explanation:
Highest Paying Cities for Entry Level Librarian Jobs.
City Richmond, CA
Annual Salary $46,419
Monthly Pay $3,868
Weekly Pay $893
Hourly Wage $22.32
An industrial park is being planned for a tract of land near the river. To prevent flood damage to the industrial buildings that will be built on this low-lying land, an earthen embankment can be constructed. The height of the embankment will be determined by an economic analysis of the costs and benefits. The following data have been gathered: Embankment Height Above Roadway (m) Initial Cost 2.0 $100,000 2.5 165,000 3.0 300,000 3.5 400,000 4.0 550,000 Flood Level Above Roadway (m) Average Frequency That Flood Level Will Exceed Height in Col. 1 2.0 Once in 3 years 2.5 Once in 8 years 3.0 Once in 25 years 3.5 Once in 50 years 4.0 Once in 100 years The embankment can be expected to last 50 years and will require no maintenance. Whenever the flood water flows over the embankment, $300,000 of damage occurs. Determine which of the five heights above the roadway should be selected. The interest rate is 12%. (50 points)
Answer:
The best height will be of 3.5 as it provides the best expected present worth.
Explanation:
2.0 heights Cost $100,000 now and it is expected to have losses of 300,000 every three years:
Present Value of Annuity
[tex]C \times \displaystyle \frac{1-(1+r)^{-time} }{rate} = PV\\[/tex]
C 300,000
time 16.67
(50 years of useful life / 3 years expected flood)
rate 0.404928
(we capitalize the 12% annual into a 3-year rate)
[tex]300000 \times \displaystyle \frac{1-(1+0.404928)^{-16.67} }{0.404928} = PV\\[/tex]
PV $738,308.8983
Present Worth: 100,000 + 738,308.90 = 838,308.90
2.5 height: cost $165,000, and we expected damage every eight year:
Present Value of Annuity
[tex]C \times \displaystyle \frac{1-(1+r)^{-time} }{rate} = PV\\[/tex]
C 300,000
time 6.25 (50 years useful life / 8 years)
rate 1.475963176 (we capitalize the 12% annual into a 8-year rate)
[tex]300000 \times \displaystyle \frac{1-(1+1.475963176)^{-6.25}}{1.475963176} = PV\\[/tex]
PV 203,257.0478
Present worth: 203,257.05 + 165,000 = 368,257.05
3.0 cost $300,000, and we expect a flood every 25 years
[tex]300000 \times \displaystyle \frac{1-(1+16)^{-2} }{16} = PV\\[/tex]
PV $18,685.0464
Present worth: 300,000 + $18,685.0464 = 318,685.05
3.5 cost $400,000, and we expect a floor every 50 years:
PRESENT VALUE OF LUMP SUM
[tex]\frac{Maturity}{(1 + rate)^{time} } = PV[/tex]
Maturity 300,000.00
time 50.00
rate 0.12
[tex]\frac{300000}{(1 + 0.12)^{50} } = PV[/tex]
PV 1,038.05
Cost: 400,000 + 1,038.05 = 401,038.05
Dockside Enterprises Incorporated operates two divisions: (1) a management division that owns and manages bulk carriers on the Great Lakes and (2) a repair division that operates a dry dock in Tampa, Florida. The repair division works on company ships and outside large-hull ships. The repair division has an estimated variable cost of $37 per labor-hour, has a backlog of work for outside ships, and charges $77 per hour for labor, which is standard for this type of work. The management division complained that it could hire its own repair workers for $47 per hour, including leasing an adequate work area. What is the minimum transfer price per hour that the repair division should obtain for its services, assuming it is operating at capacity
Answer:
Dockside Enterprises
The minimum transfer price per hour that the repair division should obtain for its services, assuming it is operating at capacity is:
= $47.
Explanation:
Repair division's estimated variable cost per labor-hour = $37
Standard selling price per labor-hour = $77
Labor cost of the hire of outside repair workers per hour = $47
Minimum transfer price = the variable costs plus a calculated opportunity cost
Minimum transfer price = $47 ($37 + $10)
Calculated opportunity cost = $10 ($47 - $37)
Johnny Cake Ltd. has 30 million shares of stock outstanding selling at $40 per share and an issue of $40 million in 8 percent, annual coupon bonds with a maturity of 13 years, selling at 96.5 percent of par ($1,000). If Johnny Cake's weighted average tax rate is 33 percent, its next dividend is expected to be $4.00 per share, and all future dividends are expected to grow at 7 percent per year, indefinitely, what is its WACC
Answer:
WACC = 0.16637 OR 16.637%
Explanation:
WACC or weighted average cost of capital is the cost of a firm's capital structure which can comprise of debt, preferred stock and common equity. The WACC for a firm with only debt and common equity can be calculated as follows,
WACC = wD * rD * (1-tax rate) + wE * rE
Where,
w represents the weight of each component based on market value in the capital structurer represents the cost of each componentD and E represents debt and equity respectivelyTo calculate WACC, we first need to calculate the Market value an cost of equity.
The market value of equity = 30 million shares * $40 per share
MV of equity = $1200 million
The cost of equity can be found using the formula for Price today (P0) under constant growth model of DDM.
P0 = D1 / (r - g)
40 = 4 / (r - 0.07)
40 * (r - 0.07) = 4
40r - 2.8 = 4
40r = 4+2.8
r = 6.8 / 40
r = 0.17 or 17%
MV of debt = 40 million * 96.5% => $38.6 million
Total MV of capital structure = 38.6 + 1200 = 1238.6 million
WACC = 38.6/1238.6 * 0.08 * (1-0.33) + 1200/1238.6 * 0.17
WACC = 0.16637 OR 16.637%
Halcrow Yolles purchased equipment for new highway construction in Manitoba, Canada, costing $500,000 Canadian. The estimated salvage at the end of the expected life of 5 years is $50,000. Various acceptable depreciation methods are being studied currently. Determine the depreciation for year 2 using the DDB(Double Declining Balance), 150% DB(Declining Balance), and SL(Straight Line Depreciation) methods.
Solution :
Method I : SL method
Cost of equipment = $ 500,000
Salvage value = $ 50,000
Expected life = 5 years
Depreciation = [tex]$\frac{\text{(cost of equipment - salvage value)}}{\text{expected life}}$[/tex]
[tex]$=\frac{(500,000-50,000)}{5}$[/tex]
= 90,000
Therefore, the [tex]$\text{depreciation}$[/tex] is $ 90,000 using the SL method.
Method II : DDB method
Cost of equipment = $ 500,000
Expected life = 5 years
So, calculating the [tex]$\text{depreciation}$[/tex] at the end of the year 1 is :
Depreciation = [tex]$\text{cost of equipment }\times \frac{2}{\text{expected life}}$[/tex]
[tex]$=500,000\times \frac{2}{5}$[/tex]
= $ 200,000
So the book value at the end of the year 1 = $ 500,000 - $ 200,000
= $ 300,000
Now calculating the [tex]$\text{depreciation}$[/tex] at the end of the year 2 is :
Depreciation = [tex]$\text{book value at the end of year 1 }\times \frac{2}{\text{expected life}}$[/tex]
[tex]$=300,000\times \frac{2}{5}$[/tex]
= $ 120,000
Therefore, the [tex]$\text{depreciating}$[/tex] value is $ 120,000 using the DDB method.
Method III : 150% DB method
Cost of equipment = $ 500,000
Expected life = 5 years
So, calculating the depreciation in year 1 is :
Depreciation = [tex]$\text{cost of equipment }\times \frac{1.5}{\text{expected life}}$[/tex]
[tex]$=500,000\times \frac{1.5}{5}$[/tex]
= $ 150,000
So the book value at the end of the year 1 = $ 500,000 - $ 150,000
= $ 350,000
Now calculating the depreciation in year 2 is :
Depreciation = [tex]$\text{book value at the end of year 1 }\times \frac{1.5}{\text{expected life}}$[/tex]
[tex]$=350,000\times \frac{1.5}{5}$[/tex]
= $ 105,000
Therefore, the [tex]$\text{depreciating}$[/tex] value is $ 105,000 using the 150% DB method.
The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.
Costs
Actual labor rate $15 per hour
Actual materials price $190 per ton
Standard labor rate $14.50 per hour
Standard materials price $193 per ton
Quantities
Actual hours incurred and used 4,600 hours
Actual quantity of materials purchased and used 1,700 tons
Standard hours used 4,650 hours
Standard quantity of materials used 1,680 tons
Required:
Compute the total, price, and quantity variances for materials and labor.
Answer:
Results are below.
Explanation:
To calculate the direct material price, quantity, and total variance, we need to use the following formulas:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (193 - 190)*1,700
Direct material price variance= $5,100 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (1,680 - 1,700)*193
Direct material quantity variance= $3,860 unfavorable
Total variance= Direct material price variance +/- Direct material quantity variance
Total variance= 5,100 - 3,860
Total variance= $1,240 favorable
To calculate the direct labor efficiency, rate, and total variance; we need to use the following formulas:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (4,650 - 4,600)*14.5
Direct labor time (efficiency) variance= $725 favorable
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (14.5 - 15)*4,600
Direct labor rate variance= $2,300 unfavorable
Total variance= Direct labor time (efficiency) variance +/- Direct labor rate variance
Total variance= 725 - 2,300
Total variance= $1,575 unfavorable
Oregon Outfitters issues 1,700 shares of $1 par value common stock at $20 per share. Later in the year, the company decides to purchase 240 shares at a cost of $19 per share.
Required:
a. Record the original issue of the 1,700 shares.
b. Record the purchase of 240 shares
c. Record the entry if Oregon Outfitters resells the 240 shares of treasury stock at $27 per share.
Answer:
A. Dr Cash $34,000
Cr Common Stock $1,700
Cr Paid in capital in excess of par-Common Stock $32,300
B. Dr Treasury stock $4,560
Cr Cash $4,560
C. Dr Cash $6,480
Cr Treasury stock $4,560
Cr To Paid in capital-Treasury stock $1,920
Explanation:
a. Preparation of the journal entry to Record the original issue of the 1,700 shares
Dr Cash $34,000
(1,700 shares × $20)
Cr Common Stock $1,700
(1,700 shares × $1)
Cr Paid in capital in excess of par-Common Stock $32,300
($34,000-$1,700)
(Being issue of common stock is recorded)
b. Preparation of the journal entry to Record the purchase of 240 shares
Dr Treasury stock $4,560
(240 shares × $19 per share)
Cr Cash $4,560
(Being repurchase of treasury stock is recorded)
C. Preparation to record the Journal entry if Oregon Outfitters resells the 240 shares of treasury stock at $27 per share.
Dr Cash $6,480
(240 shares × $27 per share.)
Cr Treasury stock $4,560
(240 shares × $19 per share)
Cr To Paid in capital-Treasury stock $1,920
($6,480-$4,560)
(Being reissue of treasury stock is recorded)
What was one result of the Bretton Woods system?
O A. The U.S. dollar was no longer accepted in most countries.
O B. The U.S. dollar became backed by gold for the first time.
O C. The U.S. dollar became more valuable and influential.
O D. The U.S. dollar lost its status as the world's reserve currency.
SUBMIT
PREVIOUS
Answer:
C. The U.S. dollar became more valuable and influential.
Explanation:
Bonds often pay a coupon twice a year. For the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash flow decreases by half. Using the values of cash flows and the number of periods, the valuation model is adjusted accordingly.
Assume that a $1,000,000 par value, semiannual coupon U.S. Treasury note with five years to maturity (YTM) has a coupon rate of 3%. The yield to maturity of the bond is 7.70%.
Using this information and ignoring the other involved, calculate the value of the Treasury note:
a) $509,016.47
b) $686,768.25
c) $969,555.18
d) $807,962.65.
Based on your calculations and understanding of semiannual coupon bonds, complete the following statement:
Assuming that interest rates remain constant, the T-note's price is expected to:___________.
Answer:
1.
Bond Price or Present value = $807962.6540 rounded off to $807962.65
Option d is the correct answer
2.
Assuming that interest rates remain constant, the T-note's price is expected to increase.
Explanation:
1.
To calculate the quote/price of the bond today, which is the present value of the bond, we will use the formula for the price of the bond. As the bond is a semi annual bond, the semi annual coupon payment, number of periods and semi annual YTM will be,
Coupon Payment (C) = 1000000 * 0.03 * 6/12 = $15000
Total periods (n) = 5 * 2 = 10
r or YTM = 7.7% * 6/12 = 3.85% or 0.0385
The formula to calculate the price of the bonds today is attached.
Bond Price = 15000 * [( 1 - (1+0.0385)^-10) / 0.0385] + 1000000 / (1+0.0385)^10
Bond Price or Present value = $807962.6540 rounded off to $807962.65
2.
Assuming the interest rates remain constant, the T-note's price is expected to increase as the T-note comes close to its maturity. The bonds that are issued at discount see an increase in price when interest rate remains constant and the time to their maturity decreases as they pay par value at maturity and discount is amortized.
List six daily activities you perform. They might include preparing homework assignments, shopping and other activities. Ensure that three of the activities call for decision making that is unstructured(or semi-structured) and three involve structured decision making. Prepare a report explaining what decision making is required and why the decision making is unstructured or structured
Answer:
Work, School, Making dinner, Driving, Choosing music, Doing homework
Explanation:
The following data were accumulated for use in reconciling the bank account of Nakajima Co. for July:
Cash balance according to the company's records at July 31, $18,410.
Cash balance according to the bank statement at July 31, $19,540.
Checks outstanding, $3,740.
Deposit in transit, not recorded by bank, $3,000.
A check for $270 issued in payment of an account was erroneously recorded in the check register as $720. Bank debit memo for service charges, $60.
A. Prepare a bank reconciliation.
B. If the balance sheet is prepared for Mathers Co. on July 31, what amount should be reported for cash?
Answer:
Part A
Nakajima Co
Bank reconciliation as at July 31
Balance as per Bank Statement $19,540
Add Outstanding Lodgments $3,000
Less Unpresented Checks ($3,740)
Balance as per Cash Book $18,800
Part B
Amount to be reported as cash is $18,800
Explanation:
A Bank reconciliation statement is used to check the accuracy of the Cash Book balance.
The Updated Cash Book after the items that are in Bank Statement but not in Cash Book must always show the same amount as with the Bank Reconciliation Statement.
property rights are important to a free enterprise system because they
Answer: Protect businesses' freedom to buy and sell products
Explanation:
Apx
The cost object(s) of the departmental overhead rate method is: Multiple Choice The time period. The production departments of the company. The production departments in the first stage and the unit of product in the second stage. The unit of product in the first stage and the production departments in the second stage. The production activities of the company.
Answer:
The production departments in the first stage and the unit of product in the second stage.
Explanation:
Managerial accounting also known as cost accounting is an accounting technique focused on identification, measurement, analyzing, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals.
This ultimately implies that, managerial accounting is specific to a particular business organization i.e the managerial accounting model used by a company would be different from the one used by another.
In Managerial accounting, the departmental overhead rate method is an accounting technique used for calculating the expense rate for each department in the manufacturing (production) process of a factory. Thus, it is solely based on breaking up overhead costs for each department rather than a factory-wide rate. The unit of activities in each segment of a business firm or factory determines the departmental overhead rate.
Generally, the cost object of the departmental overhead rate method is the production departments in the first stage and the unit of product in the second stage.
Calculating Lower-of-Cost-or-Net Realizable Value
Anne Traylor Inc. has the following information for its six inventory items on June 30, 2020. Determine the inventory cost to report on the balance sheet on June 30, 2020, assuming that the company applies the lower-of-cost-or-net realizable value rule to each individual inventory item.
Inventory Item Quantity Selling Price Cost to Sell Inventory Cost Lower-of-Cost-or-
Net Realizable Value
#100 70 $24 $5 $16
#101 100 22 4 17
#115 50 35 6 31
#118 120 40 6 29
#120 25 18 4 10
#128 45 30 8 26
Total
Answer:
Anne Traylor Inc.
Calculating Lower-of-Cost-or-Net Realizable Value
The inventory cost to report on the balance sheet on June 30, 2020, assuming that the company applies the lower-of-cost-or-net realizable value rule to each individual inventory item is:
= $8,990.
Explanation:
a) Data and Calculations:
Inventory Quantity Selling Cost NRV Inventory Lower-of-Cost-or-
Item Price to Sell Cost Net Realizable Value
#100 70 $24 $5 $19 $16 $1,120 ($16 * 70)
#101 100 22 4 18 17 1,700 ($17 * 100)
#115 50 35 6 29 31 1,450 ($29 * 50)
#118 120 40 6 35 29 3,480 ($29 * 120)
#120 25 18 4 14 10 250 ($10 * 25)
#128 45 30 8 22 26 990 ($22 * 45)
Total $8,990
Which of the following factors is likely to have a positive impact on the success of a TQM program? Check all that apply. Employees work at tasks that require high skills. Continuous improvement becomes a way of life. Managers expect to see dramatic innovations as a result of TQM. Employees use participation and teamwork to tackle significant problems.
The factors that will have positive impact on the success of a TQM program includes when:
Employees work at tasks that require high skillsTQM motivates employees and enriches jobs.What is a TQM program?This means a total quality management program and are asopted by management to achieve a long-term success through a consistent customer satisfaction.
When an employees work at tasks that require high skills and the program motivates employees and enriches jobs, this are factors that will impact positively on the success of a TQM program
Therefore, the Option A and D is correct.
Read more about TQM program
brainly.com/question/13606942
A popular, local coffeeshop in one of the suburbs of New York City (NYC) estimates they use 3,100 pounds of coffee annually. They have to determine how many pounds to order each time in order to minimize their total annual cost. a. Determine the optimal size of the order assuming an EOQ model with a holding cost of $10 per pound annually and an ordering cost of $100.
Answer:
Economic order quantity (EOQ)= 249 pounds
Explanation:
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.
Economic order quantity (EOQ)= √[(2*D*S)/H]
D= Demand in units
S= Order cost
H= Holding cost
D= 3,100
S= $100
H= $10
Economic order quantity (EOQ)= √[(2*3,100*100) / 10]
Economic order quantity (EOQ)= 249 pounds
what is treasury bills
Answer: United States Treasury securities are government debt instruments issued by the United States Department of the Treasury to finance government spending as an alternative to taxation. Treasury securities are often referred to simply as Treasury's.
Explanation:
