Answer:
lost value compared to the German mark because inflation was lower in Germany
Explanation:
Inflation is a persistent rise in the general price levels
Types of inflation
1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise
2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect
If inflation of the currency of a country increases relative to that of another country, the value of that currency decreases
The journal entry to transfer completed products from production to finished goods inventory includes which two of the following?
a. Debit to Finished Goods Inventory
b. Credit to Work in Process Inventory
c. Credit to Finished Goods Inventory
d. Debit to Work in Process Inventory
e. Debit to Raw Materials Inventory
f. Credit to Raw Materials Inventory
Answer:
c. Credit to Finished Goods Inventory
e. Debit to Raw Materials Inventory
Please remind me if one of them is correct or wrong or if both are wrong/correct
Explanation:
Question text
Raw fish must be cooked to a minimum temperature of:
Select one:
a. 165 °F.
b. 180 °F.
c. 145 °F.
d. 155 °F.
g A decrease in Inventory is reported as: Group of answer choices Operating Activities, Positive cash flow adjustment to net income Operating Activities, Negative cash flow adjustment to net income Investing Activities, Positive cash flow Investing Activities, Negative cash flow Financing Activities, Positive cash flow Financing Activities, Negative cash flow
Answer:
Positive cash flow adjustment to net income Operating Activities
Explanation:
A decrease in inventory presents a saving on the Company side in Cash Flow terms in ordinary course of business (operations). Therefore, the correct option is : A decrease in Inventory is reported as a Positive cash flow adjustment to net income Operating Activities.
Suppose the following bond quotes for IOU Corporation appear in the financial page of today’s newspaper. Assume the bond has a face value of $2,000 and the current date is April 19, 2018. Company (Ticker) Coupon Maturity Last Price Last Yield EST Vol (000s) IOU (IOU) 6 Apr 19, 2034 111.44 ?1,851 a. What is the yield to maturity of the bond?
Answer:
YTM = 4%
Explanation:
Company (Ticker) Coupon Maturity Last Price Last Yield EST Vol (000s)
IOU (IOU) 6 Apr 19, 2034 111.44 ? 1,851
Determine the yield to maturity
YTM = Rate * 2
years to maturity = 2034 - 2018 = 16 years
NPER = 2 * 16 = 32
PMT = ( face value * coupon rate ) / 2 = ( 2000 * 6% ) / 2 = 60
price of coupon ( PV ) = 2000 * 111.44% = 2228.8
Rate = 2% ( excel function : RATE(32,60,-2228.8,2000)
hence YTM = 2% * 2 = 4%
Month Maintenance Machine Health Number of Shipping Units
costs Hours Insurance Employees Costs Shipped
January 4500 165 8600 68 25778 7160
February 4452 120 8600 75 29664 8240
March 4600 230 8600 92 28674 7965
April 4850 318 8600 105 23058 8405
May 5166 460 8600 89 21294 5915
June 4760 280 8600 87 33282 9245
July 4910 340 8600 93 31428 8730
August 4960 360 8600 88 30924 8415
September 5070 420 8600 95 25110 6975
October 5250 495 8600 102 25866 7185
November 5271 510 8600 97 20124 5590
December 4760 275 8600 94 34596 9610
1. Which of the preceding costs is variable? Fixed? Mixed? Explain.
2. Using the high-low method, determine the cost function for each cost.
3. Combine the preceding information to get a monthly operating cost function for the Stein Corporaton. the total operating cost for the month
4. Next month, Stein expects to use 400 machine hours, have 80 employees, and ship 9,000 units. Estimate total operating cost for month.
Answer:
1. Variable cost = Shipping costs
Fixed cost = Health Insurance
Mixed cost = Maintenance costs
Shipping costs are variable because a unit shipped costs $3.60. The total shipping cost for each month varies according to the units shipped in the month.
Health Insurance costs are fixed as there is no change in cost notwithstanding the number of employees in each month. The total health insurance cost remains the same every month.
Maintenance costs are mixed for each month, as there is a fixed element and a variable element.
2. Cost function for each cost:
Maintenance = $4,200 + $2.10 per machine hour
Health Insurance = $8,600
Shipping cost = $3.60 per unit
3. Cost function = $12,800 + $2.1m + $3.6s
where m = machine hours
and s = units shipped
4. The total operating cost for the month
= $46,040
Explanation:
a) Data and Calculations:
Month Maintenance Machine Health Number of Shipping Units
costs Hours Insurance Employees Costs Shipped
January 4500 165 8600 68 25778 7160
February 4452 120 8600 75 29664 8240
March 4600 230 8600 92 28674 7965
April 4850 318 8600 105 23058 8405
May 5166 460 8600 89 21294 5915
June 4760 280 8600 87 33282 9245
July 4910 340 8600 93 31428 8730
August 4960 360 8600 88 30924 8415
September 5070 420 8600 95 25110 6975
October 5250 495 8600 102 25866 7185
November 5271 510 8600 97 20124 5590
December 4760 275 8600 94 34596 9610
Cost Function for each cost:
Maintenance cost:
Machine Cost
Hours
November 510 5271
February 120 4452
Difference 390 819
Variable cost = $2.10 (819/390)
Fixed cost = $4,200 ($5,271 - ($2.10*510))
Health Insurance:
Fixed cost = $8,600
Shipping cost:
Variable cost = $3.60 per unit
Cost function = $4,200 + $2.10m + $8,600 + $3.60s
= $12,800 + $2.1m + $3.6s
February cost = $12,800 + $2.1(120) + $3.6(8240)
= $12,800 + $252 + $29,664
= $42,716
IF:
Machine hours = 400
Employees = 80
Shipped units = 9,000
The total operating cost for the month will be:
Cost function = $12,800 + $2.1m + $3.6s
= $12,800 + ($2.1 * 400) + ($3.6 * 9,000)
= $12,800 + $840 + $32,400
= $46,040
A local jacket distributor expects to sell 9,000 black fleece jackets in a year. Assume that EOQ model assumptions are valid. Each jacket costs $50, ordering cost is $100 per order, and holding cost is 1 dollar per jacket per month. What is the annual inventory cost (excluding purchasing cost) if 500 jackets are ordered at a time
Answer: $4,800
Explanation:
First find the Annual holding cost:
= Average inventory * Cost of holding a unit
= 500/2 * 1 * 12 months
= $3,000
Then find the Annual ordering cost:
= Expected units to be sold/ Units ordered * Ordering cost
= 9,000/500 * 100
= $1,800
Annual Inventory cost = Annual holding cost + Annual ordering cost
= 3,000 + 1,800
= $4,800
Concept manufactures small tables in its Processing Department. Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to undetectable materials defects. Inspection occurs when units are completed. Spoiled units generally constitute 3% of the good units. Data for December 2017 are as follows: WIP, beginning inventory 12/1/2017 17,600 units Direct materials (100% complete) Conversion costs (20% complete) Started during December 60,900 units Completed and transferred out 12/31/2017 58,200 units WIP, ending inventory 12/31/2017 18,000 units Direct materials (100% complete) Conversion costs (80% complete) Costs for December: WIP, beginning Inventory: Direct materials $183,600 Conversion costs 92,500 Direct materials added 269,280 Conversion costs added 352,800 Abnormal spoilage totals ________.
Answer:
554 units
Explanation:
Calculation to determine the Abnormal spoilage totals
Abnormal spoilage totals=[(17,600+ 60,900) - ( 58,200+18,000)]-3% x 58,200
Abnormal spoilage totals=[(78,500-76,200)-1,746]
Abnormal spoilage totals=2,300-1,746
Abnormal spoilage totals= 554 units
Therefore the Abnormal spoilage totals is 554 units
On June 1, 2016, Skylark Enterprises, a calendar year LLC reporting as a sole proprietorship, acquired a retail store building for $500,000 (with $100,000 being allocated to the land). The store building was 39-year real property, and the straight-line cost recovery method was used. The property was sold on June 21, 2020, for $385,000.
The cost recovery is $__________, and the adjusted basis for the building is $_________
Answer:
Skylark Enterprises
The cost recovery is $___41,024___, and the adjusted basis for the building is $__358,976___
Explanation:
a) Data and Calculations:
Cost of retail store acquired = $500,000
Property acquisition date = June 1, 2016
Property disposal date = June 21, 2020
Length of use of property before disposal = 4 years and 21 days
Cost allocated to Land = $100,000
Cost allocated to Building = $400,000
Annual Depreciation expense = $10,256 ($400,000/39)
Cost recovery after 4 years = $41,024 ($10,256 * 4)
Adjusted basis for the building = $358,976 ($400,000 - $41,024)
b) The adjusted basis for the building is the cost of the building minus its accumulated depreciation for the number of years it has been in use.
Answer:
a) Compute the cost recovery and adjusted basis for the building.
Total cost recovery is $41,032, and the adjusted basis for the building is $358,968.
b) What are the amount and nature of Skylark's gain or loss from disposition of the property? What amount, if any, of the gain is unrecaptured § 1250 gain?
There is $73,968 of recognized loss on the sale of the property, of which none is subject to § 1250 recapture.
Explanation:
a) Take the building basis of $400,000 times the applicable MACRS percentage from table 8.8 in the Cengage text for each year.
2016: $400,000 x 0.01391 = $5,564
2017: $400,000 x 0.02564 = $10,256
2018: $400,000 x 0.02564 = $10,256
2019: $400,000 x 0.02564 = $10,256
2020: $400,000 x (0.02564*(5.5/12 months)) = $4,701
Total Cost Recovery = $41,032 (I had to round down to get it correct)
Then, take the basis minus the total cost recovery to get the adjusted basis.
$400,000 - $41,032 = $358,967 (This one needed to be rounded up...)
b) The loss on the sale is computed by taking the sales price minus the adjusted basis (plus the cost of the land).
$385,000 - ($358,967 + $100,000) = $73,968 (This one also needed to be rounded up...)
There is no 1250 recapture because:
1. The property was depreciated with straight-line, which is not eligible for recapture, and
2. because the property was sold at a loss.
Hopefully this helps! Good luck!!
College Spirit sells sportswear with logos of major universities. At the end of 2019, the following balance sheet account balances were available.
Accounts payable $104,700 Income taxes payable $11,400
Accounts receivable 6,700 Inventory 481,400
Accumulated depreciation 23,700 Long-term investment 110,900
Bonds payable 180,000 Note payable, short-term 50,000
Cash 13,300 Prepaid rent (current) 54,000
Common shares 300,000 Retained earnings, 12/31/2019 84,500
Furniture 88,000
Required:
a. Prepare a classified balance sheet for College Spirit at December 31, 2019.
b. Compute College Spirit’s working capital and current ratio at December 31, 2019.
Answer:
Part a
College Spirit
Classified balance sheet as at December 31, 2019.
ASSETS
Non - Current Assets
Furniture $88,000
Long-term investment $110,900
Accumulated depreciation ($23,700)
Total Non - Current Assets $175,200
Current Assets
Inventory $481,400
Prepaid rent (current) $54,000
Accounts receivable $6,700
Cash $13,300
Total Current Assets $555,400
TOTAL ASSETS $730,600
EQUITY AND LIABILITIES
EQUITY
Common shares $300,000
Retained earnings $84,500
TOTAL EQUITY $384,500
LIABILITIES
Non-Current Liabilities
Bonds payable $180,000
Total Non Current Liabilities $180,000
Current Liabilities
Accounts payable $104,700
Income taxes payable $11,400
Note payable, short-term $50,000
Total Current Liabilities $166,100
TOTAL LIABILITIES $346,100
TOTAL EQUITY AND LIABILITIES $730,600
Part b
3.34
Explanation:
A classified balance sheet shows the Assets, Liabilities and Equity in their different categories.
College Spirit’s working capital and current ratio :
Current Ratio/ Working Capital ratio = Current Assets ÷ Current Liabilities
= $555,400 ÷ $166,100
= 3.34
Mr. Jernigan owns a piece of land on which he grows corn. Corn production annually requires $ in seed, $ in fertilizer, and $ in pesticides. Mr. Jernigan uses his own labor to grow the corn and therefore hires no workers. If Mr. Jernigan did not use his time to grow corn, he would instead be able to sell insurance, earning $ per year. Suppose another farmer has just offered to pay Mr. Jernigan rent of $ per year for use of the land. If Mr. Jernigan refuses to rent the land to another farmer, then what will be his accounting costs from farming corn himself on his land? What will be his economic costs?
Answer:
$21,000
$55,000
Explanation:
Here is the complete question :
Mr. Jernigan owns a piece of land on which he grows corn. Corn production annually requires $6,000 in seed, $9,000 in fertilizer, and $6,000 in pesticides. Me. Jernigan uses his own labor to grow the corn and therefore hires no workers. If Mr. Jernigan did not use his time to grow corn, he would instead be able to sell insurance, earning $35,000 per year.
Suppose another farmer has just offered to pay Mr Jernigan rent of $20,000 per year for use of this land.
If Mr. Jernigan refuses to rent the land to another farmer, then what will be his accounting costs from farming corn himself on this land? What will be his economic costs?
Accounting cost or explicit cost includes the amount expended in running the business. Accounting cost is used in calculating accounting profit. They include :
cost of the seed cost of fertilizer cost of pesticidesAccounting cost = $6,000 + $9,000+ $6,000 = $21,000
Economic cost or implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives. Economic costs and accounting cost is used in calculating economic profit. Economic cost include :
amount he would have earned selling issuance amount he would have earned if he rented out the landEconomic cost = $35,000 + $20,000 = $55,000
Hudson Co. reports the contribution margin income statement for 2019. HUDSON CO. Contribution Margin Income Statement For Year Ended December 31, 2019 Sales (11,300 units at $175 each) $ 1,977,500 Variable costs (11,300 units at $140 each) 1,582,000 Contribution margin 395,500 Fixed costs 315,000 Pretax income $ 80,500 1. Compute Hudson Co.'s break-even point in units. 2. Compute Hudson Co.'s break-even point in sales dollars.
Answer:
Part 1
9,000 units
Part 2
$1,575,000
Explanation:
Break even point is the level of activity where a company makes neither a profit nor a loss.
Break-even point in units = Fixed Cost ÷ Contribution per unit
= $315,000 ÷ ($175 - $140)
= 9,000 units
Break-even point in sales dollars = Fixed Costs ÷ Contribution margin
= $315,000 ÷ ($35/$175)
= $1,575,000
The management at BuyRite grocery stores wishes to estimate the amount of time that customers are spending, on average, in its stores and in a checkout line. The most obvious approach for determining this information is to simply record when a customer enters and exits the store. However, it is difficult to track the entering and exiting times of specific customers. We will look at the problem using an alternative approach. Over the past two weeks, the following data have been collected at BuyRite’s newest store during busy hours (this BuyRite is rather large and typically has 7 open checkout lines). For simplicity, let us assume that the overall capacity at checkout lines is higher than the arrival rate of customers into the store.
Average rate of customers entering store = 305 customers/hour
Average number of customers in store = 146 customers
Percentage of customers who do not make a purchase = 5%
Average number of customers in the checkout lines = 24 customers
As their consultant, you have been asked by BuyRite’s management to address the following questions:
(a) How much time on average does a customer spend in the store?
(b) How much time on average does a customer spend waiting?
Answer and Explanation:
a. The computation of the time on an average that customer spend in the store is given below:
As we know that
Average number of Customers = Average rate of Customers Entered × Average time spend
So, Average time spend = Average number of Customers ÷ Average rate of Customers Entered
= 146 ÷ 305
= 0.478689 Hours
Now
= 0.478689 × 60
= 28.72 minutes
b. The computation of the time on an average the customer spend waiting is given below:
We know that
The Average number of Customers in waiting = Average rate of Customers Entered × Average time spend by customer for waiting in checkout lines
Average time spend by customer for waiting in checkout lines = Average number of Customers in waiting ÷ Average rate of Customers entered
= 24 ÷ 305
= 0.078689 hours
Now
= 0.078689 × 60
= 4.72 minutes
a. The computation of the time on an average that customer spend in the store is
we know that
Average number of Customers = Average rate of Customers Entered × Average time spend
So, Average time spend = Average number of Customers ÷ Average rate of Customers Entered
= 146 ÷ 305
= 0.478689 Hours
So,
= 0.478689 × 60
= 28.72 minutes
b. The calculation of the time on an average the customer spend waiting is
We know that
The Average number of Customers in waiting = Average rate of Customers Entered × Average time spend by customer for waiting in checkout lines
Average time spend by customer for waiting in checkout lines = Average number of Customers in waiting ÷ Average rate of Customers entered
= 24 ÷ 305
= 0.078689 hours
Now
= 0.078689 × 60
= 4.72 minutes
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Stagflation is when there is a BLANK shock that causes high levels of both inflation and unemployment.
Fill in the BLANK:
employment
low
demand
supply
Answer:Supply
Explanation:
Stagflation is described as a situation in which an economy has both an increase in inflation and a stagnation in economic production. Stagflation was first recognized in the 1970s when an oil shock produced fast inflation and high unemployment in many developed economies.
So, Option D is correct as Due to a combination of rising prices and decreased output, a supply shock can generate stagflation.
The other options are incorrect as:
Option A is incorrect as employment shock is not what causes a high level of inflation and unemployment.
Option B is incorrect as a High level of inflation and unemployment is not caused by Low shock.
Option C is incorrect as A demand shock is a sudden, unanticipated incident that briefly raises or diminishes sales volume or service.
Thus Option D is the correct shock that causes high inflation and unemployment.
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You are considering two different methods for constructing a new warehouse site. The first method would use prefabricated building segments, would have an initial cost of $6.5 million, would have annual maintenance costs of $150,000, and would last for 25 years. The second alternative would employ a new carbon-fibre panel technology, would have an initial cost of $8.2 million, would have maintenance costs of $650,000 every ten years, and is expected to last 40 years. Both buildings would be in CCA Class 1 (at a rate of 4 percent) and it is expected that each would have a salvage value equivalent to 25 percent of its construction cost at the end of its useful life. The discount rate the firm uses in evaluating projects is 11 percent. The tax rate is 35 percent. What is the annual cost for each option? (Enter the answers in dollars. Do not round your intermediate calculations. Round the final answers to 2 decimal places. Negative answers should be indicated by a minus sign.)
Answer:
The first method would use prefabricated building segments, would have an initial cost of $6.5 million.
Suppose that supply increases in the market for minor oral surgeries, where the surgery can be done in the dentist's office and price elasticity of demand is 4.5. Then suppose that supply increases in the market for major reconstructive oral surgeries that have to be performed by the dentist in a hospital or surgicenter with emergency life-saving equipment on hand, and the price elasticity of demand is 0.60.
In which of these markets will the quantity demanded change the fastest toward a new equilibrium?
Answer:
Quantity demanded would change the fastest in the market for minor surgeries
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
The demand for minor surgeries is elastic while the demand for major surgeries is inelastic.
If supply increases in each of these market, it means that there are more doctors available to perform surgeries. This would lead to a rightward shift of the supply curve. As a result, price would reduce.
Because demand is elastic in the market for minor surgeries, the reduction in price would lead to a greater increase in demand for surgeries
While, in the market for major surgeries, there would be little or no change in the demand
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Quantity demanded would change the fastest in the market for minor surgeries
Bailey Corporation budgets on an annual basis for its fiscal year. Three pounds of raw material are needed to produce each unit of finished product. The following beginning and ending inventory levels (in units) are planned for next year. Beginning Inventory Ending Inventory Raw material 30,000 40,000 Finished goods 70,000 60,000 If Bailey Corporation plans to sell 510,000 units during next year, the number of units it would have to manufacture during the year would be:
Answer:
500,000 units
Explanation:
The Production Budget can be used to determine the number of units that needs to be manufactured in order to meet Sales and Inventory targets as follows :
Production Budget for Next Year
Sales 510,000
Add Closing Finished Goods Inventory 60,000
Total 570,000
Less Opening Finished Goods Inventory (70,000)
Budgeted Production 500,000
Therefore,
The number of units it would have to manufacture during the year would be 500,000
If the changes in sales between May and June continue at the same rate, what will be the percent change in total computer sales from June to July? (Round your answer to the nearest tenth.)
a.
17.1%
b.
20.7%
c.
34.0%
d.
43.2%
Answer:
A. 17.1%
Explanation:
what is the yearly salary or hourly wage of a librarian?
Answer:
The average hourly rate for Librarian ranges from $27 to $38 with the average hourly pay of $32. The total hourly cash compensation, which includes base and short-term incentives, can vary anywhere from $27 to $38.....
Answer:
Librarians make an average of $47,925 yearly in the United States.
monthly around $3,993
Explanation:
Ulko produces tomato paste at five different plants. The tomato paste is then shipped to one of three warehouses, where it is stored until it is shipped to one of the company’s four customers. The shell gives the plant capacities, the cost per ton of producing tomato paste at each plant and shipping it to each warehouse, the cost of shipping a ton of paste from each warehouse to each customer, customer demand, and the annual fixed cost of operating each plant and warehouse. Ulko’s management must decide which plants and warehouses to open, how to route paste from plants to warehouses and from warehouses to customers. All customer demand must be met. A given customer’s demand can be met from more than one warehouse, and a given plant can ship to more than one warehouse. Warehouses are trans-shipment points, anything shipped into a warehouse must be shipped out. Formulate a linear model and find the minimum cost solution for meeting customer demand.
Explanation:
all customer demand must b
Which of the following correctly describes a difference between securities dealers and securities brokers?
A :
Dealers hold inventories of securities, whereas brokers do not.
B :
Dealers are paid by buyers, whereas brokers are paid by sellers.
C :
Brokers hold inventories of securities, whereas dealers do not.
D :
Brokers are paid by buyers, whereas dealers are paid by sellers.
Answer: The answer is A
Explanation:
Brokers are intermediaries and dealers hold inventory
You are the leader of a country that has fallen on hard times. Jobs have disappeared, citizens are struggling to get by, and some of your country’s industries have failed. As a leader, how could you display the qualities of visionary leadership in this situation?
Answer:
I could display the qualities of a visionary leader by offering a coherent vision for the future, and a good economic plan.
Explanation:
A visionary leader in such a dire situation would first of all show a guide to the people, would tell them that there is hope, and would explain to them why such hope still exists.
Such leader would also lay out an economic plan that can resolve, at least, some of the economic issues of the country, because it is true that no plan is perfect, and no government policy solves all problems by itself.
For price discrimination via coupons to be successful, it must be TRUE that:
a. shoppers who use coupons have more elastic demand than shoppers who do not.
b. shoppers who use coupons have more inelastic demand than shoppers who do not.
c. there is a negative correlation between coupon use and the consumer's willingness to shop for price.
d. firms can directly identify which consumers are the most price sensitive before purchase of the good.
Answer:
B is your correct choice
Explanation:
Hope this helps
Bovine Corporation has two divisions: televisions and mobile phones. The mobile phone division has a contribution margin of $600,000. The company's common fixed costs and total traceable fixed costs are $100,000 and $500,000 respectively. Assuming the traceable fixed costs of the television division are $300,000, what is the segment margin of the mobile phone division
Answer:
Segment margin= $300,000
Explanation:
Giving the following formula:
Mobile phone:
Contribution margin= $600,000
Traceable fixed cost= $100,000
Common fixed costs= $500,000
First, we need to calculate the traceable fixed cost to mobile phone:
Traceable fixed cost= 500,000 - 300,000= $200,000
Now, the segment margin of mobile phone:
Segment margin= 600,000 - 100,000 - 200,000
Segment margin= $300,000
The best managed companies will have
O some accounts that will prove to be uncollectible.
O a very lenient credit policy.
a very strict credit policy.
O no uncollectible accounts.
The amounts of voluntary costs and failure costs: A. Tend to move in opposite directions (as one increases the other decreases). B. Tend to move in the same direction (as one increases the other increases). C. Are equal by definition. D. None of these answers are correct.
Answer:
A. Tend to move in opposite directions (as one increases the other decreases)
Explanation:
Voluntary cost is the cost that classified as a prevention & appraisal cost on the other hand the failure cost is the cost that could be internal or external.
The cost i.e. incurred for prevention so there would be less chances so if there is increase in the voluntary cost so there would be reduction in the failure cost and so on
Hence, the option a is correct
Which of the following reflect the balances of prepayment accounts prior to adjustment?
Answer:
The answer is Balance sheet accounts are overstated and income statement accounts are understated.
Explanation:
Veldre Company provides the following information about its defined benefit pension plan for the year 2020. Service cost $ 90,000 Contribution to the plan 105,000 Prior service cost amortization 10,000 Actual and expected return on plan assets 64,000 Benefits paid 40,000 Plan assets at January 1, 2020 640,000 Projected benefit obligation at January 1, 2020 700,000 Accumulated OCI (PSC) at January 1, 2020 150,000 Interest/discount (settlement) rate 10 % Compute the pension expense for the year 2020.
Answer:
$106,000
Explanation:
Computation for the pension expense for the year 2020.
PENSION EXPENSE
Service cost$ 90,000
1nterest cost $70,000
($700,000 * 0.10)
Less Actual return ($64,000)
Amortization of PSC $10,000
2020 PENSION EXPENSE $106,000
Therefore the pension expense for the year 2020 is $106,000
Identify the form of communication in which an individual both speaks up for their rights and also takes others' rights and feelings into account.
a.Assertive communication
b.Passive communication
c.Aggressive communication
d.Empathetic communication
Sophia purchased a variable annuity contract with a purchase payment of $70,000. Surrender charges begin with 9 percent in the first year and decline by 1 percent each year. In addition, Sophia can withdraw 12 percent of her contract value each year without paying surrender charges. In the first year, Sophia needed to withdraw $13,700. Assume that the contract value had not increased or decreased because of investment performance. What was the surrender charge Sophia had to pay
Answer:
$477
Explanation:
Calculation to determine the surrender charge Sophia had to pay
Using this formula
Surrender charge = [Withdraw all amount - (Free withdraw all % x Account value)] x Surrender charge
Let plug in the formula
Surrender charge= [$13,700 - (0.12 x $70,000)] x 0.09
Surrender charge= ($13,700-$8,400)×0.09
Surrender charge=$5,300×0.09
Surrender charge=$477
Therefore the surrender charge Sophia had to pay is $477
A facility is setting up an assembly line to produce 75 units per day, working 24 hours per day. Calculate the desired cycle time in minutes per unit.
Task Time (Min) Predecessors
A 4 -
B 3 -
C 5 A
D 5 A,B
E 3 C,D
Solution :
Given :
The production output per day = 75 units
Production time per day = 24 hours
Therefore, the cycle time is
= [tex]$\frac{\text{production time per day}}{\text{outpu}t \text{ per day} }$[/tex]
[tex]$=\frac{24 \times 60}{75}$[/tex]
= 19.2 mins
≈ 20 minutes
The desired cycle time = 15 minutes per unit
Given the task times of A to E from the table.
Sum of the task times (A to E) = 4 + 3 + 5 + 5 + 3
= 20 minutes
Number of workstations needed = (sun of total task times) / (cycle time)
[tex]$=\frac{20}{15}$[/tex]
= 1.33
≈ 2 work stations
