Answer:
$16,875
Explanation:
The amount received per year is $15,000 and the CPI increased from 144 to 162
Inflation rate = (New CPI - Old CPI)/Old CPI * 100
Inflation rate = 162-144/144 * 100
Inflation rate = 0.125
Inflation rate = 12.5%
Amount received = $15,000 * 12.5% = $1,875
==> $15,000 + $1,875 = $16,875
So, Grandmother will receive $16,875
Which of these is a renewable marine resource that could be utilized to produce electricity?
Answer:
Hydro energy
Explanation:
Hydro energy is a renewable marine resource that can be used to generate electricity.
It is derived from a dam that enables the formation of a controlled flow of water that will steer a turbine, thereby generating electricity.
Another renewable marine resource is Tidal energy that uses tidal currents to propel turbine generators in generating electricity.
Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types of go-karts: Deluxe and Basic. Activity Expected Costs Expected Activity Handling materials $ 625,000 100,000 parts Inspecting product 900,000 1,500 batches Processing purchase orders 105,000 700 orders Paying suppliers 175,000 500 invoices Insuring the factory 300,000 40,000 square feet Designing packaging 75,000 2 models Required: 1. Compute a single plantwide overhead rate for the year, assuming that the company assigns overhead based on 125,000 budgeted direct labor hours. 2. In January of this year, the Deluxe model required 2,500 direct labor hours and the basic model required 6,000 di
Answer:
Results are below.
Explanation:
First, we need to calculate the plantwide predetermine manufacturing overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
total estimated overhead costs for the period= (625,000 + 900,000 + 105,000 + 175,000 + 300,000 + 75,000)
total estimated overhead costs for the period= $2,180,000
Predetermined manufacturing overhead rate= 2,180,000 / 125,000
Predetermined manufacturing overhead rate= $17.44 per direct labor hour
Now, we can allocate overhead to each product line:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Deluxe:
Allocated MOH= 17.44*2,500
Allocated MOH= $43,600
Basic:
Allocated MOH= 17.44*6,000
Allocated MOH= $104,640
Bank Reconciliation and Entries
The cash account for Collegiate Sports Co. on November 1, 20Y9, indicated a balance of $81,145. During November, the total cash deposited was $293,150, and checks written totaled $307,360. The bank statement indicated a balance of $112,675 on November 30, 20Y9. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:
hecks outstanding totaled $41,840.
A deposit of $12,200, representing receipts of November 30, had been made too late to appear on the bank statement.
A check for $7,250 had been incorrectly charged by the bank as $2,750.
A check for $760 returned with the statement had been recorded by Collegiate Sports Co. as $7,600. The check was for the payment of an obligation to Ramirez Co. on account.
The bank had collected for Collegiate Sports Co. $7,385 on a note left for collection. The face of the note was $7,000.
Bank service charges for November amounted to $125.
A check for $2,500 from Hallen Academy was returned by the bank because of insufficient funds.
Required
Collegiate Sports Co.
Bank Reconciliation
November 30, 20Y9
Cash balance according to bank statement $
Adjustments:
Deposit of November 30, not recorded by bank $
Bank error in charging check as $7,250 instead of $2,750
Outstanding checks
Total adjustments
Adjusted balance $
Cash balance according to company's records $
Adjustments:
Proceeds of note collected by bank, including $385 interest $
Error in recording check as $7,600 instead of $760
Check returned because of insufficient funds
Bank service charges
Total adjustments
Adjusted balance $
2. Journalize the necessary entries (a.) that increase cash and (b.) that decrease cash. The accounts have not been closed. For a compound entry, if an amount box does not require an entry, leave it blank.
20Y9 Nov. 30 Cash
Notes Receivable
Interest Revenue
Accounts Payable-Ramirez Co.
Nov. 30 Accounts Receivable-Hallen Academy
Miscellaneous Expense
Cash
3. If a balance sheet were prepared for Collegiate Sports Co. on November 30, 20Y9, what amount should be reported as cash?
$\
Answer:
1. Collegiate Sports Co.
Bank Reconciliation
November 30, 20Y9
Cash balance according to bank statement $112,675
Adjustments:
Deposit of November 30, not recorded by bank $12,200
Bank error in charging check as ($4,500)
$7,250 instead of $2,750
Outstanding checks ($41,840)
Total adjustments ($34,140)
Adjusted balance $78,535
Cash balance according to company's records $66,935
($81,145+$293,150-$307,360)
Adjustments:
Proceeds of note collec. Date ted by bank, $7,385
including $385 interest
Error in recording check as $7,600 instead of $760 $6,840
Check returned because of insufficient funds ($2,500)
Bank service charges ($125)
Total adjustments $11,600
Adjusted balance $78,535
2. Date Account Titles Debit Credit
Nov 30 Cash $14,225
Notes receivables $7,000
Interest revenue $385
Account payable $6,840
Nov 30 Account Receivable $2,500
Miscellaneous expenses $125
Cash $2,625
3. The cash to be reported is $78,535.
Jennifer has recently found a new job at a local architectural firm. They have offered her a chance to invest money for her retirement. For every 6 percent Jennifer invests from her salary, her company will fund 3 percent. What type of investment does this describe?
A.
money market mutual fund
B.
certificate of deposit
C.
bond
D.
401k
The answer is D.) 401k
Don't worry about the picture it tells you the correct answer
Hope this helps
401k is the investment option offered by Jenifer’s employer to her.
What is a 401K plan?Popularly known as an employer-sponsored retirement plan, a 401(K) plan allows certain eligible employees to make tax-deferred contributions from their pay or compensation, based on pre-established criteria. A 401(k) match is money put into your account by your employer. Up to a predetermined percentage of your pay, your company will match all or a portion of every dollar you put into your 401(k). Employer matching is a crucial perk of your employment that, over time, can greatly increase your 401(k) retirement savings. The employer contribution is pre-tax, whereas the employee contribution is post-tax.
Employers who offer 401(K) plans are also allowed to include a profit-sharing component in the plan as well as make matching or non-elective payments to the plan on behalf of eligible employees.
The typical 401(k) plan is very versatile and provides close to 25 distinct investment possibilities. The fund fees, which were formerly a significant problem, have been steadily declining, which lessens the strain on employees' retirement funds. In fact, the 401(k) contributions that invested a sizeable sum in these index funds as low cost and low risk methods of engaging in the equity markets are responsible for the index funds' quick surge in popularity in the US, including Vanguard and Blackrock. Employees have access to a low-cost way to invest for the future, and since 401(k) contribution limits are inflation-indexed, participants can gradually make higher contributions.
Employers most frequently match worker contributions up to a percentage of annual income. There are a number possible ways to implement this constraint. Your employer has the option of matching all of your contributions up to a certain percentage of your overall compensation or only a portion of them. The latter circumstance necessitates you to make additional contributions to your plan in order to earn the maximum match, even while the overall cap on employer contributions stays the same.
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Which of the following statements is true of financial leverage
Assume Concord Corporation has the following reported amounts: Sales revenue $1,000,000, Sales returns and allowances $29,000, Cost of goods sold $657,367, and Operating expenses $215,600. (a) Compute net sales. Net sales $enter net sales in dollars (b) Compute gross profit. Gross profit $enter gross profit in dollars (c) Compute income from operations. Income from operations $enter Income from operations in dollars (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2%.)
Answer:
Concord Corporation
(a) Net sales $971,000
(b) Gross profit $313,633
(c) Income from operations $98,033
(d) Gross profit rate = 313,633/971,000 * 100
= 32.3
Explanation:
a) Data and Calculations:
Sales revenue $1,000,000
Sales returns and allowances $29,000
Net Sales $971,000
Cost of goods sold $657,367
Gross profit 313,633
Operating expenses $215,600
Income from operations $98,033
Percentage of college students that graduate
with student loans:
Bond X is a premium bond making semiannual payments. The bond has a coupon rate of 9.9 percent, a YTM of 7.9 percent, and has 16 years to maturity. Bond Y is a discount bond making semiannual payments. This bond has a coupon rate of 7.9 percent, a YTM of 9.9 percent, and also has 16 years to maturity. Assume the interest rates remain unchanged and both bonds have a par value of $1,000.
1. What are the prices of these bonds today? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
2. What do you expect the prices of these bonds to be in one year? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
3. What do you expect the prices of these bonds to be in three years? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
4. What do you expect the prices of these bonds to be in eight years? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
5. What do you expect the prices of these bonds to be in 12 years? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
6. What do you expect the prices of these bonds to be in 16 years? (Do not round intermediate calculations.)
Answer:
1. What are the prices of these bonds today?
Price bond X = $1,179.88
Price bond Y = $841.03
2. What do you expect the prices of these bonds to be in one year?
Price bond X = $1,173.97
Price bond Y = $845.40
3. What do you expect the prices of these bonds to be in three years?
Price bond X = $1,160.70
Price bond Y = $855.50
4. What do you expect the prices of these bonds to be in eight years?
Price bond X = $1,116.95
Price bond Y = $891.24
5. What do you expect the prices of these bonds to be in 12 years?
Price bond X = $1,067.47
Price bond Y = $935.24
6. What do you expect the prices of these bonds to be in 16 years?
Price bond X = $1,049
Price bond Y = $1,039
I solved this using an Excel spreadsheet and the NPV function.
Shum Manufacturing, which uses the high-low method, makes a product called Kwan. The company incurs three different cost types (A, B, and C) and has a relevant range of operation between 2,500 units and 10,000 units per month. Per-unit costs at two different activity levels for each cost type are presented below. Type A Type B Type C Total 5,000 units $ 4 $ 9 $ 4 $ 17 7,500 units 4 6 3 13 If Shum produces 10,000 units, the total cost would be:
Answer:
For making 10,000 units
Type A cost = 40,000
Type B Cost = 90,000
Type C Cost = 25,000
Explanation:
Given - Shum Manufacturing, which uses the high-low method, makes a
product called Kwan. The company incurs three different cost
types (A, B, and C) and has a relevant range of operation between
2,500 units and 10,000 units per month. Per-unit costs at two
different activity levels for each cost type are presented below.
Type A Type B Type C Total
5,000 units $4 $9 $4 $17
7,500 units $4 $6 $3 $13
To find - If Shum produces 10,000 units, the total cost would be ?
Proof -
As we know that
Total cost = Variable cost per unit × Units + Fixed Cost
Now,
As per the question ,
Highest Activity unit = 7,500 units
Lowest Activity unit = 5,000 units
Now,
Variable cost per unit = Change in cost / Change in activity unit
= ( Highest Activity cost - Lowest Activity cost ) / ( Highest Activity unit - Lowest Activity unit )
Type A Type B Type C
Highest Activity Cost 30,000 45,000 22,500
Lowest Activity Cost 20,000 45,000 20,000
Variable Cost Per unit 4 0 1
Fixed Cost 0 90,000 15,000
Now,
Statement Showing Total Cost for 10,000 units
Particulars Type A Type B Type C
Variable Cost 40,000 0 10,000
Fixed Cost 0 90,000 15,000
Total 40,000 90,000 25,000
∴ we get
For making 10,000 units
Type A cost = 40,000
Type B Cost = 90,000
Type C Cost = 25,000
At Oldies but Goodies, a store that buys and sells vintage record albums, there is only one general partner, Alexa. She spends all her time running the business and makes all the decisions. Alexa's mother and brother put up money for her to buy the store, but they work full time at other jobs and have no management say in the running of Oldies but Goodies; they, however, share in some of the profits. This is an example of a
Answer: limited partnership
Explanation:
A limited partnership is a form of partnership whereby there are two partners which are the general partner and the limited partner.
In this scenario, the general partner who is Alexa in this case, own and operate the business, and makes all the decisions while the limited partners
who are Alexi's mother and brothers invest in the business but won't make any decisions. Also, the general partner will have an unlimited liability.
Sunland Company has $4050000 of 8% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2021, the holders of $1250000 bonds exercised the conversion privilege. On that date the market price of the bonds was 106 and the market price of the common stock was $35. The total unamortized bond premium at the date of conversion was $288000. Sunland should record, as a result of this conversion, a
Answer: credit of $213876.80 to Paid-in Capital in Excess of Par.
Explanation:
First and foremost, we have to calculate the exercised ratio which will be:
= Converted value for bonds / Total value if convertible bonds
= $1250000 / $4050000
= 0.3086
The unamortized premium will then be calculated thus:
= $1250000 + ($288000 × 0.3086) - (1250 × $30 × 30)
= $1250000 + $88876.80 - $1125000
= $213876.80
Therefore, credit of $213876.80 to Paid-in Capital in Excess of Par.
Job 910 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ 2,434 Direct labor-hours 72 labor-hours Direct labor wage rate $ 14 per labor-hour Machine-hours 132 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $15 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 910 would be:
Answer:
$5,422
Explanation:
The computation of the total cost that should be recorded is shown below:
= Direct material cost + direct labor cost + manufacturing overhead cost
= $2,434 + (72 labor hours × $14) + (132 machine hours × $15)
= $2,434 + $1,008 + $1,980
= $5,422
hence, the total cost is $5,422
What is the tax due for a single taxpayer reporting a taxable income of $65,725?
And you are
If line 43
(taxable
income) is-
At
But
least less
than
Single
Married Married Head of
filing filing household
jointly separately
Your tax is-
65,000
65,000 65,050
65,050 65,100
65,100 65,150
65,150 65.200
11,995
12,008
12,020
12033
8,821
8,829
8,836
SQM
11,995
12,008
12,020
1202
10,509
10,521
10,534
Answer:
[tex]Tax = \$14459.5[/tex]
Explanation:
The question has a lot of confusing and unclear details. I will just answer the part that requests for the amount of tax to be paid by the single person given the taxable income of $65,725
Given
[tex]Taxable\ Income = \$65725[/tex]
Status: Single
Required
Determine the tax amount
For a single person whose taxable income is within the range of $39,476 - $84,200, the tax is 22% of the taxable income.
So, we have:
[tex]Tax = 22\% * Taxable\ Income[/tex]
[tex]Tax = 22\% * \$65725[/tex]
[tex]Tax = 0.22 * \$65725[/tex]
[tex]Tax = \$14459.5[/tex]
Answer:
The right answer is 12,170.
Explanation:
i just took the test.
At which stage does advertising catch the attention of customers by building awareness of the product
Answer:
when there is an entry of a substitute product in the market. This is the right time that customers attention need to be fully caught. When there is a general decline in the sell of the product. Advertisement is necessary.
Explanation:
Eddie is a production engineer for a major supplier of component parts for cars. He has determined that a robot can be installed on the production line to replace one employee. The employee earns $20 per hour and benefits worth $8 per hour for a total annual cost of $58,240 this year. Eddie estimates this cost will increase 6% each year. The robot will cost $16,500 to operate for the first year with costs increasing by $1500 each year. The firm uses an interest rate of 15% and a 10-year planning horizon. The robot costs $75,000 installed and will have a salvage value of $5000 after 10 years. Should Eddie recommend that purchase of the robot
Answer:
Eddie should recommend the purchase of the robot.
Explanation:
This can be determined using the following 3 steps:
Step 1: Calculation of the present worth (PW) of the cost of one employee
This can be calculated using the formula for calculating the the present value (PV) of a growing annuity as follows:
PWE = (P / (r - g)) * (1 - ((1 + g) / (1 + r))^n) .................... (1)
Where;
PWE = Present worth of the cost of one employee = ?
P = first or this year annual cost = $58,240
r = interest rate = 15%, or 0.15
g = annual growth rate of cost of the one employee = 6%, or 0.06
n = number of years = 10
Substituting the values into equation (1), we have:
PWE = ($58,240 / (0.15 - 0.06)) * (1 - ((1 + 0.06) / (1 + 0.15))^10) = $360,654.33
Step 2: Calculation of the present worth (PW) of the cost of the robot
This can be calculated using the following formula:
PWR = C + ((P / (r - g)) * (1 - ((1 + g) / (1 + r))^n)) - (SV / (1 + r)^n) .................... (2)
Where;
PWR = Present worth of the cost of the robot = ?
C = cost of installing the robot = $75,000
P = first year cost of operating the robot = $16,500
r = interest rate = 15%, or 0.15
g = annual growth rate of cost of operating the robot = Annual increase in cost / P = $1500 / $16,500 = 0.0909090909090909
n = number of years = 10
SV = Salvage value = $5,000
Substituting the values into equation (2), we have:
PWR = $75,000 + (($16,500 / (0.15 - 0.0909090909090909)) * (1 - ((1 + 0.0909090909090909) / (1 + 0.15))^10)) - (SV / (1 + 0.15)^10) = $188,227.75
Step 3: Recommendation
PWE = Present worth of the cost of one employee = $360,654.33
PWR = Present worth of the cost of the robot = $188,227.75
Since present worth of the cost of the robot of $188,227.75 is lower than the present worth of the cost of one employee of $360,654.33, Eddie should recommend the purchase of the robot.
You deposit $1,800 at the end of each year into an account paying 10.6 percent interest.
a. How much money will you have in the account in 16 years?
Answer:
4852.80
Explanation:
1800×10.6%= 190.80 / year
190.80 × 16 years = 3052.80
3052.80 + 1800=
4852.80
First National Bank charges 13.7 percent compounded monthly on its business loans. First United Bank charges 14 percent compounded semiannually. Calculate the EAR for First National Bank and First United Bank. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) As a potential borrower, which bank would you go to for a new loan
Answer:
14.59%
14.49%
Explanation:
Effective annual interest (EAR) = (1 + periodic interest)^m - 1
where m = number of compounding
periodic interest = APR / m
(1 + 0.137/12)^12 - 1 = 14.59%
(1 + 0.14/2)^2 - 1 = 14.49%
A trading company on April 30, paid BD 750,000 for a machine which can produce 1,400,000 units in 10 years life. The machine have a salvage value of BD 50,000 and produce 25,000 units in first year, 45,000 units in second year and 70,000 units in third year. Compute depreciation expense for the Second year assuming the company uses the unit production method. O A. 22500 O B. 35000 O C. 12500 O D. 15000
Answer: A. BD 22,500
Explanation:
First find the depreciation per unit:
= (Cost of machine -Salvage value) / Total units to be produced over lifetime
= (750,000 - 50,000) / 1,400,000
= BD 0.5 per unit
There are 45,000 units to be produced in the second year:
= 45,000 * 0.5
= BD 22,500
Analyse, using a production possibility curve (PPC) diagram, the effect of an increase in enterprise on an economy.
Answer:
Describe economic growth using a PPC diagram.
Explanation:
Production possibility curve shows all different attainable combinations of the production of two commodities that can be produced in an economy given the resources and technology which are constant and fully utilized. Therefore to achieve any point beyond PPC, there is need for increase in the present supply of resources and technology which leads to an outward shift in PPC as overall production increases which results in economic growth as shown in the diagram.
(Please heart the answer if you find it helpful, it's a motivation for me to help more people)
The production possibility curve, diagram illustrates the effect of an increase in enterprise on an economy as progressive if the quality and output are balanced.
What is the economy?The economy of any country is determined by the ratio of production and consumption that takes place within a year and evaluates the flow of funds in the market by analyzing the purchasing parity of an individual.
The production possibilities curve (PPC) is a graph that displays all the possible output combinations. when a nation's economy is operating at peak performance, generating goods and services for the general public while allocating resources most effectively.
An increase in the enterprise means requiring more numbers of laborers and employees to work which shows the availability of employment which results in an increase in purchasing parity of an individual and helps in improving the economy.
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if you calculating the simple interest and you are given the time in months. how can you find the time in years
Answer:
Divide the months by 12
Explanation:
Baylor Bank believes the New Zealand dollar will appreciate over the next 15 days from $.90 to $.93. The following annual interest rates apply: Currency Lending Rate Borrowing Rate Dollars 4.50% 6.50% New Zealand dollar (NZ$) 6.40% 8.00% Baylor Bank has the capacity to borrow either NZ$10 million or $9 million. If Baylor Bank's forecast is correct, what will its dollar profit be from speculation over the 15 days period (assuming it does not use any of its existing consumer deposits to capitalize on its expectations)
Answer:
19 milion 86+15=91 19000091
Define liquidity risk and explain how it relates to bonds and bond yields.
Answer:
Liquidity risk is the inability to quickly sell a bond for its full value. This risk exists primarily in thinly traded issues. Default risk is the likelihood the issuer will default on its bond obligations and is the basis for bond ratings.
Liquidity is a prime determiner of yield spreads, explaining up to half of the cross-sectional variation in spread levels and up to two times the cross-sectional variation in spread changes that is explained by the effects of credit rating alone.
Liquidity risk Liquidity refers to the investor's ability to sell a bond quickly and at an efficient price, as reflected in the bid-ask spread. High-yield bonds can sometimes be less liquid than investment-grade bonds, depending on the issuer and the market conditions at any given time.
(If some parts overlap/relate to the exactly to other parts, I'm sorry. But there ya go !)
Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. This year, Roquan had net business income of $90,000 from his law practice (net of the associated for AGI self-employment tax deduction). Assume that Roquan pays $40,000 in wages to his employees, has $10,000 of property (unadjusted basis of equipment he purchased last year), and has no capital gains or qualified dividends. His taxable income before the deduction for qualified business income is $100,000.
1. Calculate Roquan's deduction for qualified business income.
2. Assume the same facts as earlier, except Roquan's taxable income before the deduction for qualified business income is $300,000.
Answer:
A. $18,000
B. No QBI deduction
Explanation:
a) Calculation for Roquan’s deduction for qualified business income.
Using this formula
Roquan's qualified business income.
= 20% x QBI
Let plug in the formula
Roquan's qualified business income
= 20% x $90,000
Roquan's qualified business income= $18,000
Therefore Roquan’s deduction for qualified business income will be $18,000
b) Based on the information given if we assumed that Roquan's taxable income before the deduction for qualified business income is the amount of $300,000 which means that Roquan's income is higher than the amount of $213,300 hence, NO qualified business income deduction (QBI) will be allowed.
Assume that Sonic Foundry Corporation has a contractual debt outstanding. Sonic has available two means of settlement. It can either make immediate payment of $2,512,000, or it can make annual payments of $289,600 for 15 years, each payment due on the last day of the year. Click here to view factor tables Which method of payment do you recommend, assuming an expected effective interest rate of 8% during the future period
Answer:
pay $289,600 for 15 years
Explanation:
we have to compare the present value of both options:
option 1:
pay $2,512,000 immediately, with the same present value
option 2:
pay $289,600 for 15 years
PVIFA, 15 periods, 8% = 8.5595
PV of hte annuity = $289,600 x 8.5595 = $2,478,831
they should choose the second option since the present value is lower.
The capital accounts of Lorraine Grecco and Carrie Rosenfeld have balances of $64,000 and $99,000, respectively, on January 1, 20Y4, the beginning of the fiscal year. On March 10, Grecco invested an additional $11,000. During the year, Grecco and Rosenfeld withdrew $43,000 and $53,000, respectively, and net income for the year was $84,000. Revenues were $654,000, and expenses were $570,000. The articles of partnership make no reference to the division of net income.
Answer:
Requirement: Journalize the entry to close the revenues and expenses. If an amount box does not require an entry, leave it blank. Lorraine Grecco, Capital Carrie Rosenfeld, Capital Journalize the entry to close the drawing accounts. If an amount box does not require an entry, leave it blank
Account Titles Debit Credit
Revenues $654,000
Expenses 570,000
Lorraine Grecco, Capital $42,000
Carrie Rosenfeld ,Capital $42,000
Lorraine Grecco, Capital $43,000
Carrie Rosenfeld ,Capital $53,000
Lorraine Grecco, Drawing $43,000
Carrie Rosenfeld ,Drawing $53,000
Job 243 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ 51,870 Direct labor-hours 435 labor-hours Direct labor wage rate $ 11 per labor-hour Machine-hours 516 machine-hours Number of units completed 3,300 units The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $13 per machine-hour. Required: Compute the unit product cost that would appear on the job cost sheet for this job. (Round your answer to 2 decimal places.)
Answer:
$19.20
Explanation:
Computation for the unit product cost that would appear on the job cost sheet for this job.
First step is to compute the Total Product cost
Job 243
Direct material $ 51,870
Direct labor (435*11) 4,785
Overhead (516*13) 6,708
Total Product cost $63,363
Now let Compute the unit product cost
Unit product cost=$63,363/3,300 units
Unit product cost =$19.20
Therefore the unit product cost that would appear on the job cost sheet for this job is $19.20
Below are cash transactions for Goldman Incorporated, which provides consulting services related to mining of precious metals.
a. Cash used for purchase of office supplies, $1,450.
b. Cash provided from consulting to customers, $41,100.
c. Cash used for purchase of mining equipment, $64,000.
d. Cash provided from long-term borrowing, $51,000.
e. Cash used for payment of employee salaries, $23,100.
f. Cash used for payment of office rent, $11,100.
g. Cash provided from sale of equipment purchased in c. above, $21,600.
h. Cash used to repay a portion of the long-term borrowing in d. above, $35,500.
i. Cash used to pay office utilities, $3,400.
j. Purchase of company vehicle, paying $9,100 cash and borrowing $14,100
Required:
Calculate cash flows from investing activities.
Answer:
-$51,500
Explanation:
Calculation for cash flows from investing activities
Cash used for purchasing mining equipment -64,000
Cash provided from sale of equipment $21,600
Purchase of company vehicle -$9,100
Cash used by investing activities -$51,500
Therefore the cash flows from investing activities will be -$51,500
You have recently been made a department head of the new regional office. In getting to know your departmental staff, you have noticed that one of your inexperienced employees is not following through on assigned tasks. She is enthused about her new job and wants to get ahead in the organization. Which alternative represents the most effective leadership style?
Answer:
Democratic leadership style
Explanation:
She can develop a democratic leadership style within her which can help her accomplish her tasks as a manager and also help her inculcate this very leadership style which can be beneficial for her to go higher the ladder in organizations management.
Democratic leadership style would help her show the inexperienced employee some route out to get skilled and follow subordinates to improve work. Collaborative working with the employees provides managers with much needed team dynamics. Also, democratic leadership styles makes managers gather much needed skills which are essential for the leaders of the organization.
In 2018, U.S. President Donald Trump proposed a 33% cut in the United States Agency for International Development (USAID) budget for the upcoming fiscal year, which would have reduced USAID spending in 2019 to $16.8 billion. His total proposed 2019 budget for the U.S. federal government was $4.4 trillion. There are many ways one can use to develop a sense of scale to explain the magnitude of foreign aid spending. Which of the following would not be helpful?
It would not help to compare the U.S. federal budget this year to previous years.
Compare foreign aid spending this year to previous years. think about the ratio of foreign aid to the total U.S.
Federal budget. think about the U.S.
Federal budget per person and foreign aid per person.
Answer:
It would not help to compare the U.S. federal budget this year to previous years.
Explanation:
a) Data and Calculations:
Proposed cut in USAID for the upcoming fiscal year of 2019 = 33%
USAID spending in 2019 = $16.8 billion
This would have been $16.8 billion/67% = $25.07 without the proposed cut.
Ratio of actual 2019 USAID spending to the 2019 budget = $16.8 billion/$4.4 trillion = 0.038 or 4%
b) Comparing the U.S. federal budget this year to previous years' is not relevant to the issue of foreign aid spending. Instead, the comparison should concentrate on issues connected to foreign aid.
. A company has just been taken over by new management that believes it can raise earnings before taxes (EBT) from $600 to $1,000
