Marshall Grocery Delivery Service reports the following information: Rate per hour of direct labor is: Labor rate per hour $ 20 Rate per hour of direct labor $ 25.80 Materials markup 23 % Target profit margin 20 % The materials markup for a job that will use 100 labor hours and $2,000 of materials is:

Answers

Answer 1

Answer:

$460

Explanation:

The following information was reported from Marshall Grocery delivery service report

Labor rate per hour= $20

Rate per hour= $25.80

Materials markup= 23%

Target profit margin= 20%

The material markup for a job that will use 100 labor hours and $2,000 of materials is calculated as follows

Materials markup= Materials × percentage

= $2,000×23/100

= $2,000×0.23

= $460

Hence the materials markup is $460


Related Questions

Steeler Company has issued bonds that pay semiannually with the following characteristics: Coupon Yield to Maturity Maturity Duration 10% 10% 10 years 6.76 years If the yield to maturity decreases to 8.045%, the expected percentage change in the price of the bond using modified duration would be ________.

Answers

Answer:

the expected percentage change in the price of the bond using modified duration would be 12%

Explanation:

A= Semi annually= 2

YM= Yield to Maturity= 10%

M= Maturity= 10%

MtD= Maturity duration= 6.76 years

Modified duration (MD)= MtD/1+YM/A

MD= 6.76/1+10%/2= 6.76/1.05= 6.438 approx 6.44 years

Change in Yield to maturity = 8.045%- 10%= -1.955%

Change in percentage Price= -Modified duration*Change in Yield to maturity

Change in percentage Price= -6.44*(--1.955%

)= 12.59%

Identify the information that the current Generally Accepted Accounting Principles and Auditing Standards require the financial statements of an entity to show for the reporting period:_________.1. Budgeting vs actual comparisons of key balance sheet and income statement accounts2. Market value of the entity's net assets3. Number of people employed by the entity4. Investments by and distribution to owners (ex: stockholders) during the period5. Financial Position at the end of the period6. Cash flows during the period7. Earnings for the period

Answers

Answer:

4. Investments by and distribution to owners (ex: stockholders) during the period.

5. Financial Position at the end of the period.

6. Cash flows during the period.

7. Earnings for the period.

Explanation:

The information that the current Generally Accepted Accounting Principles (GAAP) and Auditing Standards require the financial statements of an entity to show for the reporting period are;

1. Investments by and distribution to owners (ex: stockholders) during the period.

2. Financial Position at the end of the period.

3. Cash flows during the period.

4. Earnings for the period.

The Financial Accounting Standards Board (FASB) issued some standards, accounting principles, and procedures to be followed by public companies in the United States of America for reporting and recording statements of income, this is known as the Generally Accepted Accounting Principles (GAAP).

The GAAP is also adopted by the Securities and Exchange Commission (SEC) to measure, analyze and regulate the stock market.

Oriole Inc manufactures model airplanes and repair kits. The planes account for 75% of the sales mix, and the kits the remainder. The variable cost ratio for the planes is 80% and 65% for the kits. Fixed costs are $114000. Compute the breakeven point in sales dollars.

Answers

Answer:

Break-even point (dollars)= $480,000

Explanation:

Giving the following information:

Fixed costs are $114000.

Sales mix:

Planes= 0.75

Kits= 0.25

Contribution margin ratio:

Planes= 0.20

Kits= 0.35

To calculate the break-even point in dollars, we need to use the following formula:

Break-even point (dollars)= Total fixed costs / Weighted average contribution margin ratio

Weighted average contribution margin ratio= sales mix*contribution margin ratio

Weighted average contribution margin ratio= 0.75*0.2 + 0.25*0.35

Weighted average contribution margin ratio= 0.2375

Break-even point (dollars)= 114,000/0.2375

Break-even point (dollars)= $480,000

A firm is considering two mutually exclusive projects, X and Y, with the following cash flows: 0 1 2 3 4 Project X -$1,000 $100 $320 $400 $700 Project Y -$1,000 $1,000 $110 $55 $45 The projects are equally risky, and their WACC is 13%. What is the MIRR of the project that maximizes shareholder value

Answers

Answer:

Project X maximizes shareholder value (highest NPV) and has a MIRR of 14.27%.

Explanation:

year       cash flow project X          cash flow project Y

0                   -1,000                             -1,000

1                        100                               1,000

2                      320                                   110

3                      400                                   55

4                      700                                   45

WACC = 13%

Using an excel spreadsheet I calculated the projects' NPV, IRR and MIRR

                                                        NPV         IRR     MIRR

project X                                        $45.65      15%    14.27%

project Y                                        $36.82      16%    14.03%  

The modified internal rate of return (MIRR) considers that the project's cash inflows are invested at the company's WACC and the initial investment is financed at a certain debt rate (in this case the same WACC).

Which of the following represents an increase in living standards over the past century? Check all that apply. Increased human activities have magnified the pollution of air and water. The purchasing power of a dollar has declined over time due to inflation. Medical breakthroughs enable people to enjoy better healthcare nowadays.

Answers

Answer:

Medical breakthroughs enable people to enjoy better healthcare nowadays.

Explanation:

An increase in living standard means that the lives of people are better off.

Advances in medicine have made it possible to find cure to various diseases. This improves standard of living.

Increased pollution of air and water and decline of dollar value have negative effects on living standard.

Pollution affects human health negatively and can cause diseases which negatively affect standard of living. Also, pollution can cause floods and other environmental disasters. Floods can displace people from their homes and this affects standard of living negatively.

Decrease in dollar value has made items more expensive.

I hope my answer helps you

Rank the following instruments in terms of credit risk. In your rankings, use 1 for the greatest credit risk and 4 for the smallest credit risk. Assume a 10 year Treasury trades with a YTM of 5%.a. A Ba1 corporate bond ______b. A ten-year BBB- corporate bond with a YTM of 7% ______c. A secured loan from Argosy Gaming, which is a B- rated firm ______d. A senior subordinated bond from Argosy Gaming

Answers

Answer:

a. A Ba1 corporate bond 2 (not investment grade)

b. A ten-year BBB- corporate bond with a YTM of 7% 3 (medium risk but still investment grade)

c. A secured loan from Argosy Gaming, which is a B- rated firm 4 (less risky since it is backed by a collateral)

d. A senior subordinated bond from Argosy Gaming 1 (highest risk)

Explanation:

There are two major bond rating agencies in the US: Moody's and Standard & Poor's.

Their rankings are very similar, although the letters vary a little:

AAA: safest

AA: low risk

A: low risk

BBB: medium risk

BB: a little bit more riskier

B: risky

CCC: very high risk

CC: even riskier

C: riskiest

D: junk, in default

Mary runs an ad in the paper offering a $5 reward for the return of her lost dog, Sparky. Mary has made a promise to pay the person who performs the act of returning Sparky. This is a(n) _____ contract. Select one: a. quasi b. implied c. bilateral d. unilateral

Answers

Answer:

This is a Unilateral contract

Explanation:

Mary has made a promise to pay the person who performs the act of returning Sparky therefore this is an example of a unilateral contract.

A unilateral contract is a type of contract agreement where an offeror such as Mary makes a promise to pay after the performance of a specified act, which is to return her dog Sparky

On January 1, 2021, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $470,000. Inventory data for 2021 through 2023 are as follows:
Date Ending Inventory at Year-End Costs Cost Index
12/31/2021 $391,400 1.03
12/31/2022 454,250 1.15
12/31/2023 477,400 1.24
Required: Calculate Taylor's ending inventory for 2021, 2022, and 2023.

Answers

Answer:

Taylor Company ending inventories are

2021= $380600

2022= $397850

2023= $386350

Explanation:

Kindly check attached pdf for the computation of the solution

Kelly received a $60,000 salary during 2017. Her federal income tax withholding rate was 20%, and the Social Security base amount for 2017 was $118,500.What is the total amount that her employer should have withheld in 2017?
A. $15,390
B. $16,590
C. $15,979
D. $6,849

Answers

Answer: B. $16,590

Explanation:

The FICA tax rate which is the combined Social Security and Medicare rate for 2017 was 7.65%.

Assuming a base of $118,500 this means that you are taxed on your first $118,500 in earnings.

Kelly only made $60,000 so the tax rate will apply to her $60,000.

Adding that to the 20% that she is due to pay on Federal Income tax the total amount her employer withheld was,

= (60,000 * 20%) + (60,000 * 7.65%)

= 12,000 + 4,590

= $16,590

Option B is correct.

A part of a business's message that distinguishes it from all its competitors

is referred to as what?

Answers

Answer: Brand.

Explanation:

A brand usually a logo, name,  word or sentence or the comnbination  is  a company's valuable assets that  distinguishes its  their product from its competitors. Overtime, A Brand which proves credibility will promote the company's worth and value  and endear potential buyers   to the benefit  its owners and shareholders.   A brand becomes a trademark when legal protection is conferred on it.

Answer:

unique selling proposition

Explanation:

Ferdinand’s employer will match 50% of his $250 monthly contributions to his 401(k). This means that Ferdinand’s employer will put 50% of $250 = $125 into Ferdinand’s 401(k) account each month in addition to Ferdinand’s $250. What a swell benefit

Answers

Answer and Explanation:

The computation of the given question is shown below:-

Total Contributions = Monthly contribution + Amount invested in Ferdinand’s 401(k)

= $250 + $125

= $375  

1. Future Value = PMT [((1 + r)n - 1) ÷ r

Future value = 375 × ((1 + 0.03 ÷ 12) × 12 × 40 - 1) ÷ (0.03 ÷ 12)

= $347,272

2. Ferdinand deposit = Given Amount × Total number of months in a year × Number of years

= $250 × 12 Months × 40 Years

= $120,000

3. The Amount put in by the employer = 50% of $250 ×Total number of months in a year × Number of years

= $125 × 12 Months × 40 Years

= $60,000

4. Interest = Future value - Ferdinand deposit - The Amount put in by the employer

= $347,272 - $120,000 - $60,000

= $167,272

We simply applied the above formulas

Dollar-value LIFO:

a. Starts with ending inventory measured at current costs and re-creates LIFO layers for measuring inventory costs.
b. Increases the recordkeeping costs of LIFO.
c. Only is allowed for internal reporting purposes.
d. None of these answer choices are correct.

Answers

Answer:

a. Starts with ending inventory measured at current costs and re-creates LIFO layers for measuring inventory costs.

Explanation:

Dollar-value LIFO refers a technique of accounting that employed for inventory based on the last-in-first-out model.

To obtain the dollar-value LIFO, the conversion price index that will be used to calculate the LIFO cost layer for each period must be calculated first.

Therefore, Dollar-value LIFO starts with ending inventory measured at current costs and re-creates LIFO layers for measuring inventory costs.

Church Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to grow at a rate of 22% for the next 4 years, after which competition will probably reduce the growth rate in earnings and dividends to zero, i.e., g = 0. The company's last dividend, D0, was $1.25, its beta is 1.20, the market risk premium is 5.50%, and the risk-free rate is 3.00%. What is the current price of the common stock?
a. $32.69
b. $26.57
c. $27.37
d. $28.97
e. $23.39

Answers

Answer:

Option B ,$26.57 is correct

Explanation:

The cost of equity =Rf+Beta*Mrp

Rf is the risk free rate of 3.00%

Beta of equity is 1.20

Mrp is the market risk premium which is 5.50%

Cost of equity=3.00%+(1.20*5.50%)=9.60%

Stock price =present value of dividends+present value of terminal value

D1=$1.25*(1+22%)/(1+9.6%)^1=$ 1.39

D2=$1.25*(1+22%)^2/(1+9.6%)^2=$ 1.55  

D3=$1.25*(1+22%)^3/(1+9.6%)^3=$ 1.72  

D4=$1.25*(1+22%)^4/(1+9.6%)^4=$ 1.92  

terminal value=year 4 dividend/(r-g)

year 4 dividend=$1.25*(1+22%)^4= 2.77  

r is the cost of equity of 9.6%

g is the dividend afer year 4 which is 0%

terminal value= 2.77/(9.6%-0%)=$ 28.85  

present value of terminal value= 28.85/(1+9.6%)^4=$ 19.99  

Total present values=$ 1.39+$ 1.72+$ 1.92  +$ 1.92 +$ 19.99  =$26.58

According to the question Option B ,$26.57 is correct

How to calculate of common stock?

When The cost of equity = [tex]Rf+Beta "/times" Mrp[/tex]

After that, Rf is the risk free rate of 3.00%

then Beta of equity is[tex]1.20[/tex]

After that Mrp is the market risk premium which is 5.50%

So that, Cost of equity 3.00%+(1.20*5.50%)=9.60% = 9.60%

Then The Stock price is = present value of dividends + present value of terminal value

Now, D1 is = $[tex]1.25 "/times" (1+22[/tex]%[tex])/(1+9.6[/tex]%)^[tex]1=$ 1.39[/tex]

Then, D2 is = $[tex]1.25 "/times" (1+22[/tex]%[tex])^2/(1+9.6[/tex]%)^[tex]2=$ 1.55[/tex]  

Then D3 is = $1.25 "/times" (1+22%)^3/(1+9.6%)^3=$ 1.72  

After that D4 is = $[tex]1.25*(1+22[/tex]%[tex])^4/(1+9.6[/tex]%)^[tex]4=$ 1.92[/tex]

Then the terminal value is = year 4 dividend/(r-g)

Then year 4 dividend is = $[tex]1.25×(1+22[/tex]%)^4= 2.77  

Then r is the cost of equity of 9.6%

Now, g is the dividend after year 4 which is 0%

After that terminal value is = 2.77/(9.6%-0%)=$ 28.85  

Then present value of terminal value is = [tex]28.85/(1+9.6[/tex]%)^4=$ 19.99  

Thus, The Total present values is =$ [tex]1.39+$ 1.72+$ 1.92  +$ 1.92 +$ 19.99[/tex]  =$26.57

Therefore Option B is $26.57

Find out more information about Common stock here:

https://brainly.com/question/24334747

There are many perfumes on the market, but Demeter, a superior brand of perfume, has memorable scents that leads to emotional ties. Which element of the marketing plan is being considered when the marketing manager decided initially to market the perfume in a limited number of very exclusive specialty stores?

Answers

Answer:

Place

Explanation:

The four P's of marketing is a number of tactics employed in a marketing plan to achieve better sales of a product. These four P's include; Price, Place, Promotion, and Product. The place factor takes note of the location where the target customers are most likely to be reached. To achieve better sales of a product, it is very important that the right location is chosen so that consumers who are interested in it can access it easily. For example, it would make no sense to sell grocery products in a boutique. That is not where the target customers are.

So, when the marketing manager of Demeter Perfumes decided to market the perfume in a limited number of very exclusive specialty stores, it is because that place is where the target market (most likely, high income earners), can be found easily.

Ravelo Corporation has provided the following data from its activity-based costing system:

Activity Cost Pools Total Cost Total Activity
Assembly $498,520 44,000 machine-hours
Processing orders $54,263 1,100 orders
Inspection $77,589 1,100 inspection-hours

Data concerning the company's product L19B appear below:

Annual unit production and sales 430
Annual machine-hours 990
Annual number of orders 70
Annual Inspection hours 20
Direct materials cost $37.74 per unit
Direct labor cost $10.45 per unit

According to the activity-based costing system, the average cost of product L19B is closest to:

a. $4819 per unit
b. $82.31 per unit
c. $85.56 per unit
d. $7753 per unit

Answers

Answer:

Activity Cost Pools Total Cost Total Activity

Assembly $498,520 44,000 machine-hours

Processing orders $54,263 1,100 orders

Inspection $77,589 1,100 inspection-hours

Explanation:

Activity Cost Pools Total Cost Total Activity

Assembly $498,520 44,000 machine-hours

Processing orders $54,263 1,100 orders

Inspection $77,589 1,100 inspection-hours

A consumer has ​$130 in monthly income to be spent on two goods Z and B. The price of good Z ​(Pz​) is ​$8.00. The Marginal Rate of Transformation​ (MRT) is equal to minus−2. That is 2 units of good B can be traded for 1 unit of good Z. What is the price of good B in $?

Answers

Answer:

Price of B is $4

Explanation:

Marginal rate of transformation is defined as the amount of a good x has to stop being produced inorder to produce a certain amount of a good y. Factors of production and technology used are assumed to be constant.

In this scenario the marginal rate of transformation is -2, that is 2 units of good B can be traded for 1 unit of good Z, mathematically

2 * Pb = Pz

Substitute price of Z

2* Pb = $8

Pb= 8 ÷ 2

On= $4

Yum! Brands, the parent company of KFC, has pursued an aggressive growth strategy in China. There are now more than 3,700 restaurants in 650 Chinese cities, and KFC has a 40 percent market share of the entire fast-food industry there. Yum! Brands China owns and directly manages about 90 percent of its Chinese stores, so it appears that the company prefers __________ in this market.

Answers

Answer:

Direct Investment

Explanation:

DIRECT INVESTMENT can be defined as an investment in which a company, organisation or business owner decide to venture into business with another country which is know as foreign business enterprise in order to acquire and obtain a controlling interest in the enterprise which is why DIRECT INVESTMENT is a way of controlling the ownership of a business in one country by an another entity which is based in another country.

Most Investors use the DIRECT INVESTMENT way to put money into a business operating in another country.

Therefore based on the information given the company prefers DIRECT INVESTMENT method which is why the parent company of KFC has more than 3,700 restaurants in 650 Chinese cities in which the Brands China owns and directly manages about 90 percent of its Chinese stores.

Hence this method is called the DIRECT INVESTMENT method .

The evaluation of a firm's strengths, weaknesses, opportunities, and threats is called a SWOT analysis. A SWOT analysis can be a valuable tool in the development of a marketing plan, but too often the SWOT analysis is not well thought out and proves to be an ineffective waste of time. Perhaps the most common mistake when conducting a SWOT analysis is the failure to separate internal issues from external issues. The strengths and weaknesses aspects of the SWOT analysis focus on internal capabilities. The opportunities and threats aspects focus on the external environment. Select the most appropriate category for the descriptors below.1. Post office closings2. JPM has the superior information technology infrastructure3. Increasing demand for international packages4. JPM has an excellent workforce and human resource department5. Potential global economic recession6. JPM has increasing labor costs7. JPM has less fuel-efficient planes8. Increasing fuel costs due to turmoil in the Middle East

Answers

Answer: Please refer to Explanation

Explanation:

SWOT ANALYSIS is indeed a very useful matrix for evaluating a firm's strong points.

The Strengths and Weaknesses portion focus on the internal Environment with the Strengths looking at what the company does better than other companies and has a competitive advantage in while weaknesses look at where the company is lacking.

The Threats and Opportunities focus on the External Environment. The Threats refer to any and every potential source of negative effects on the company while Opportunities are the potential chances that a company can capitalise on to make themselves more profitable.

Classifying the above,

1. Post office closings. OPPORTUNITIES

This is because JPM as a Delivery Service can then take over the customers that can no longer use the closed Post Offices.

2. JPM has the superior information technology infrastructure. STRENGTHS.

This is an area that JPM excels in making it a strength.

3. Increasing demand for international packages. OPPORTUNITIES.

This is a chance for JPM to grow as they can capitalise on this increased demand to increase profitability.

4. JPM has an excellent workforce and human resource department. STRENGTH.

JPM has a strength in this area because this is something that they are good at.

5. Potential global economic recession. THREATS.

This is a Threat to JPM as it could potentially affect their business negatively.

6. JPM has increasing labor costs. WEAKNESSES.

This is an internal problem that is a weakness for JPM. Rising labour costs means lower profits so they should be careful.

7. JPM has less fuel-efficient planes. WEAKNESSES.

Less fuel efficient planes means that they burn more fuel to deliver goods around the world so they have more expenses. This is a weakness that needs to be curtailed.

8. Increasing fuel costs due to turmoil in the Middle East. THREATS.

This is a threat because it is from the External Environment but threatens to increase the costs of deliveries for JPM.

Berk Company produces three products: Tic, Tac, and Toe. Tic requires 160 machine setups, Tac requires 150 setups, and Toe requires 190 setups. Berk has identified an activity cost pool with allocated overhead of $32,000 for which the cost driver is machine setups. How much overhead is assigned to the Tic product?

Answers

Answer:

Overhead assigned to Tic= $10,240

Explanation:

Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers.  

Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.

Activity rate per driver is calculated as:

Activity overhead for the period / Total cost drivers for the period

Set -up activity  overhead = $32,000

Total expected cost drivers for activity set up  = sum of the set ups for the three products

Total set ups= 160 +150 + 190 = 500  set ups

Overhead rate per set up

= $32,000/500 set ups

= $64  per set up

Overhead assigned to Tic = Overhead rate per set up × No of setups for TIC

= $64  per setup ×160=$10,240

Overhead assigned to Tic= $10,240

The Caraway Seed Company grows heirloom tomatoes and sells their seeds. The heirloom tomato plants are preferred by many growers for their superior flavor. At the end of the most recent year the firm had current assets of $49,700​, net fixed assets of $248,300​, current liabilities of $28,400​, and​ long-term debt of $101,600.
A. Calculate Caraway's stockholders' equity.B. What is the firm's net working capital?

Answers

Answer:

A.

$168,000

B.

$21,300

Explanation:

A.

As per accounting equation

Assets = Liabilities + Equity

Equity = Assets - Liabilities

Placing values in the equation

Equity = ( Current assets + Net Fixed Assets ) - ( Current Liabilities + Long term debt )

Equity = ( $49,700 + 248,300 ) - ( 28,400 + 101,600)

Equity = $168,000

B.

Net Working capital is the net of current assets and current liabilities of the company.

Use following formula of net working capital

Net working capital = Current assets - current liabilities

Net working capital = $49,700 - 28,400

Net working capital = $21,300

Light-emitting diode (LED) light bulbs have become required in recent years, but do they make financial sense? Suppose a typical 60-watt incandescent light bulb costs $.45 and lasts for 1,000 hours. A 7-watt LED, which provides the same light, costs $2.25 and lasts for 40,000 hours. A kilowatt-hour of electricity costs $.121, which is about the national average. A kilowatt-hour is 1,000 watts for 1 hour. However, electricity costs actually vary quite a bit depending on location and user type (you can get information on your rates from your local power company). An industrial user in West Virginia might pay $.04 per kilowatt-hour whereas a residential user in Hawaii might pay $.25. You require a 10 percent return and use a light fixture 500 hours per year. What is the break-even cost per kilowatt-hour?

Answers

Answer:

(A) For incandescent bulb, your break even cost is $32.67

(B) With LED bulb, your break even cost is $3.8115

Conclusion: It makes financial sense to use LED bulbs.

Explanation:

We start by checking the cost of your electricity bill when you use incandescent bulb and when you use LED bulb.

Since your answers are to be in kilowatt hour, we transform the watt measurement of the bulbs into kilowatt thus:

60watt incandescent bulb = 0.06kw

7watt led bulb = 0.007kw

National average cost of electricity per kilowatt hour is $1.21

Cost per kWh using incandescent bulb is 1.21 × 0.06 = $0.0726

Cost per kWh using led bulb is 1.21 × 0.007 = $0.00847

(A) WITH INCANDESCENT

0.06kw × 500hrs/year = 30kwhrs/year

Cost of electricity bill = 1.21 × 30 =$36.3

Your 10% return = $3.63

Break even cost per year, in kWh is = 36.3 - 3.63 = $32.67

(B) WITH LED

0.007kw × 500hrs/year = 3.5kwhrs/year

Cost of electricity bill = 1.21 × 3.5 = $4.235

Your 10% return = $0.4235

Break even cost per year in kWh is = 4.235 - 0.4235

(C) The incandescent bulb costs $0.45 but draws you a bill of $32.67 a year WHILE the led bulb costs $2.25 but draws you a bill of $3.8115

We conclude hence, that light-emitting diode bulbs make financial sense. Overlook the cost of purchasing the bulb because it uses less kilowatts per hour and draws you a very low bill, compared to the incandescent bulb!

Marx and Springsteen provides​ hair-cutting services in the local community. In February, the business cut the hair of 200 ​clients, earned $ 5,100 in​ revenues, and incurred the following operating​ costs:

Hair saloon expense: $500
Building rent expense: 1458
Utilities expense: 200
Depreciation expense--- Equipment: 50

Required:
What was the cost of service to provide one haircut?

Answers

Answer:

Cost of service to provide one haircut is $ 11.04

Explanation:

Hair saloon expense: $500

Building rent expense: $1,458

Utilities expense: $200

Depreciation expense --- Equipment: $50

Total operating cost = Hair saloon expense + Building rent expense + Utilities expense + Depreciation expense

= $500 + $1,458 + $200 + $50

= $ 2,208

Total hair cuts = 200

Therefore, cost per hair cut = Total operating cost ÷ Total hair cuts

= $2,208 ÷ $200

=  $ 11.04

Jamal just inherited some money from a distant cousin overseas. He would like to put some of it in a bond and is looking at two choices. Bond A has five years to maturity, a semiannual coupon of 6% and a face value of $1,000. Bond B has ten years to maturity, an annual coupon of 4% and a face value of $1,000. Jamal knows that the rate expected in the marketplace for investments similar to these is 5%.
1. What is the present value of the coupon stream on each bond?
2. What is the present value of the face value on each bond?
3. What is the total value of each bond?
4. If Jamal sees the two bonds in the Wall Street Journal and they are both priced at 99, which bond should he buy?

Answers

Answer:

i. = $262.56 , = $308.87

ii. = $781.198 , = $613.91

iii. Bond A = $1,043.76 ,  Bond B = $922.78

Explanation:

(i) Present Value of Coupon Payment

Bond A :- Semiannual Coupon Amount = $1,000 * 6% * 6 / 12 = $30

Total Semiannual Period = 5 * 2 = 10

Semiannual Interest = 5% / 2 = 2.5%

Present Value of Coupon Payment = $30 * PVAF (2.5% , 10)

= $30 * 8.752

= $262.56

Bond B :- Annual Coupon Amount = $1,000 * 4% = $40

Annual Periods = 10

Annual Interest = 5%

Present Value of Coupon Payment = $40 * PVAF ( 5% , 10)

= $40 * 7.72

= $308.87

(ii) Present Value of Face Value of Bond

Bond A = $1,000 * PVF (2.5% , 10 periods)

= $1,000 * 0.7812

= $781.198

Bond B = $1,000 * PVF (5% , 10)

= $1,000 * 0.6139

= $613.91

(iii) Total Value of Each Bond

Bond A = $262.56 + $781.198 = $1,043.76

Bond B = $308.87 + $613.91 = $922.78

(iv)If Jamal sees the two bonds in the Wall Street Journal and they are both priced at 99, he should consider:

If the Bond Current Price is lower than Bond Fair Price then he should Buy the Bond

If the Bond Current Price is higher than Bond Fair Price then he should not buy  the bond

Market Price of Bond = $99

He should buy Bond A  But not Bond B

Following are the accounts and balances (in random order) from the adjusted trial balance of Stark Company.

Notes payable $11,000
prepaid insurance 2500
Interest expense 500
Accounts payable 1500
Wages payable 400
Cash 10,000
Wages expense 7500
Insurance expense 1800
Common stock 10,000
Retained earnings 14,800
Services revenue 20,000

Accumulated depreciation—BuiIdings $15,000
Accounts receivable 4000
Utilities expense 1300
Interest payable 100
Unearned revenue 800
Supplies expense 200
Buildings 40,000
Dividends 3,000
Depreciation expense—BuiIdings 2,000
Supplies 800

Required:
Prepare the:

a. Income statement
b. Statement of retained earnings for the year ended December 31
c. Balance sheet at December 31. The Retained Earnings account balance was $118,800 on December 31 of the prior year.

Answers

Answer:

a. Income statement

Services revenue                                                      20,000

Unearned revenue                                                         800

Total Revenue                                                           20,800

Less Expenses :

Interest expense                                          500

Wages expense                                        7,500

Insurance expense                                    1,800

Utilities expense                                        1,300

Supplies expense                                        200

Depreciation expense—BuiIdings           2,000      (13,300)

Net Income                                                                  7,500

b. Statement of retained earnings for the year ended December 31

Retained earnings at the beginning of the year 14,800

Add Profit for the year                                            7,500

Less Dividends Paid                                             (3,000)

Retained earnings at the end of the year           19,300

c. Balance sheet at December 31.

Non - Current Assets

Buildings                                                 40,000

Accumulated depreciation—Buildings (15,000)

Total Non - Current Assets                    25,000

Current Assets

Supplies                                                       800

Accounts receivable                                4,000

Prepaid insurance                                    2,500

Cash                                                         10,000

Total Current Assets                               17,300

Total Assets                                             42,300

Equity and Liabilities

Equity

Common stock                                        10,000

Retained Earnings                                   19,300

Total Equity                                              29,300

Non - Current Liabilities

Notes payable                                          11,000

Total Non - Current Liabilities                 11,000

Current Liabilities

Accounts payable                                     1,500

Wages payable                                           400

Interest payable                                          100

Total Current Liabilities                           2,000

Total Equity and Liabilities                    42,300

Explanation:

The Profit for the year is included in the calculation of the Retained Earnings figure for the end of the year. The retained earnings figure at end of the year is part of Equity in the Balance Sheet.

(Note Income Statement Consist of Revenue Expenditures only, whilst Balance Sheet consists of Assets, Equity and Liabilities).

An engineer analyzing cost data about hydrogen sulfide monitors discovered that the information for the first three years was missing. However, he knew the cost in year 4 was $1250 and that it increased by 5% each year thereafter. If the same trend applied to the first three years, the cost in year 1 was:

Answers

Answer:

Find below full question:

An engineer analyzing cost data about hydrogen sulfide monitors discovered that the information for the first three years was missing. However, he knew the cost in year 4 was $1250 and that it increased by 5% each year thereafter. If the same trend applied to the first three years, the cost in year 1 was:

a. $1312.50

b. $1190.48

c. $1028.38

d. $1079.80

Option D,$ 1,079.80   is correct

Explanation:

The present value formula can be used to determine the cost in year one as follows:

PV=FV*(1+r)^-n

FV is the future cost in year 4 which is $1,250

r is the growth rate of cost per year which is 5%

n is the duration of time involved,it is 3 because the difference between year 4 and year 1 is 3

PV=$1250*(1+5%)^-3

PV=$1250*(1.05)^-3

PV=$1250*0.863837599

PV=$ 1,079.80  

The cost of the hydrogen sulfide monitor in year one is $ 1,079.80  

In essence option D,$ 1,079.80   is correct

Which is not an example of an intangible asset?

1_A trademark

2_A computer

3_A patent

4_A copyright

Answers

The answer is 2) A Computer

An intangible asset excludes a computer. Thus the correct answer is (2).

What is an intangible asset?

An intangible asset is referred to as a thing that an individual is unable to see or touch. An intangible asset is a lack of physical appearance. One can not transfer them from one location to another.

One can able touch or see a personal computer so it is not an intangible asset. Therefore, option (2) is appropriate.

Learn more about intangible assets, here:

https://brainly.com/question/14892188

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Technology transfer agreements: Select one: a. protect "distinctive" or "famous" marks from unauthorized uses only when confusion is likely to occur. b. permit a company to quickly penetrate a foreign market without incurring the substantial financial and legal risks associated with direct investment. c. prevent an intellectual property owner from granting to another the right to use protected technology in return for some form of compensation. d. assert that priority of trademark rights in the United States depends upon the priority of use anywhere else in the world.

Answers

Answer:

b. permit a company to quickly penetrate a foreign market without incurring the substantial financial and legal risks associated with direct investment.

Explanation:

Technology transfer agreements can be defined as a contractual agreement between two parties, the licensor (rightful owner of the patent or trademark) and lincesee, granting them the legal rights to use an intellectual property under the stated terms and conditions binding the contract.

An intellectual property is an embodiment of the creative work such as trademark, patent or copyright of an individual, usually an inventor.

Technology transfer agreements allows an intellectual property owner to license or grant to another the right to use its protected technology in return for some form of compensation and permit a company to quickly penetrate a foreign market without incurring the substantial financial and legal risks associated with direct investment because this will further enhance foreign direct investments, expansion and deeply foster world trade among countries.

Accounting Cycle Review 15 a-e
Cullumber Corporation’s trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below.

Debit
Credit
Cash
$26,100
Accounts Receivable
60,000
Inventory
23,300
Land
67,200
Buildings
81,700
Equipment
41,000
Allowance for Doubtful Accounts
$470
Accumulated Depreciation—Buildings
25,500
Accumulated Depreciation—Equipment
14,200
Accounts Payable
19,500
Interest Payable
–0–
Dividends Payable
–0–
Unearned Rent Revenue
7,200
Bonds Payable (10%)
44,000
Common Stock ($10 par)
28,000
Paid-in Capital in Excess of Par—Common Stock
5,600
Preferred Stock ($20 par)
–0–
Paid-in Capital in Excess of Par—Preferred Stock
–0–
Retained Earnings
65,330
Treasury Stock
–0–
Cash Dividends
–0–
Sales Revenue
570,000
Rent Revenue
–0–
Bad Debt Expense
–0–
Interest Expense
–0–
Cost of Goods Sold
380,000
Depreciation Expense
–0–
Other Operating Expenses
36,900
Salaries and Wages Expense
63,600

Total
$779,800
$779,800

Unrecorded transactions and adjustments:

1. On January 1, 2020, Cullumber issued 1,000 shares of $20 par, 6% preferred stock for $23,000.
2. On January 1, 2020, Cullumber also issued 1,000 shares of common stock for $24,000.
3. Cullumber reacquired 260 shares of its common stock on July 1, 2020, for $46 per share.
4. On December 31, 2020, Cullumber declared the annual cash dividend on the preferred stock and a $1.30 per share dividend on the outstanding common stock, all payable on January 15, 2021.
5. Cullumber estimates that uncollectible accounts receivable at year-end is $6,000.
6. The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,200.
7. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $4,100.
8. The unearned rent was collected on October 1, 2020. It was receipt of 4 months’ rent in advance (October 1, 2020 through January 31, 2021).
9. The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2020, has not been paid or recorded.

(Ignore income taxes.)

Answers

Requirment: Prepare a Balance Sheet as at December 31, 2020.

Answer:

Cullumber CorporationBalance Sheet as of December 31, 2020:

Current Assets:

Cash                                                                $61,140

Accounts Receivable                   60,000

less allowance for doubtful          6,000       54,000

Inventory                                                          23,300         138,440

Non-current Assets:

Land                                                                 67,200

Buildings                                       81,700

Accumulated Depreciation       28,050        53,650

Equipment                                    41,000  

Accumulated Depreciation         17,890        23,110          143,960

Total Assets                                                                     $282,400

Liabilities + Equity:

Current Liabilities:

Accounts Payable                       19,500

Interest Payable                           4,400

Dividends Payable                       5,802

Unearned Rent Revenue             1,800       31,502

Non-current Liabilities:

Bonds Payable (10%)                                     44,000           $75,502

Equity:

Common Stock ($10 par)                                38,000

Paid-in Capital in Excess of Par—Common    10,240

Preferred Stock ($20 par)                              20,000

Paid-in Capital in Excess of Par—Preferred    3,000

Retained Earnings                                         138,258

Treasury Stock                                                 (2,600)       206,898

Total Liabilities + Equity                                                  $282,400

Explanation:

a) Cullumber Corporation's Unadjusted Trial Balance as of December 31, 2020:

                                                       Debit             Credit

Cash                                            $26,100

Accounts Receivable                   60,000

Inventory                                      23,300

Land                                             67,200

Buildings                                       81,700

Equipment                                    41,000

Allowance for Doubtful Accounts                                  $470

Accumulated Depreciation—Buildings                      25,500

Accumulated Depreciation—Equipment                    14,200

Accounts Payable                                                        19,500

Interest Payable                                                         –0–

Dividends Payable                                                     –0–

Unearned Rent Revenue                                             7,200

Bonds Payable (10%)                                                  44,000

Common Stock ($10 par)                                           28,000

Paid-in Capital in Excess of Par—Common Stock      5,600

Preferred Stock ($20 par)                                           –0–

Paid-in Capital in Excess of Par—Preferred Stock     –0–

Retained Earnings                                                     65,330

Treasury Stock                          –0–

Cash Dividends                         –0–

Sales Revenue                                                       570,000

Rent Revenue                                                             –0–

Bad Debt Expense                     –0–

Interest Expense                       –0–

Cost of Goods Sold                   380,000

Depreciation Expense              –0–

Other Operating Expenses       36,900

Salaries and Wages Expense   63,600

Total                                       $779,800               $779,800

b) Cullumber Corporation's Adjusted Trial Balance as of December 31, 2020:

                                                       Debit             Credit

Cash                                             $61,140

Accounts Receivable                   60,000

Inventory                                      23,300

Land                                             67,200

Buildings                                       81,700

Equipment                                    41,000

Allowance for Doubtful Accounts                              $6,000

Accumulated Depreciation—Buildings                      28,050

Accumulated Depreciation—Equipment                    17,890

Accounts Payable                                                        19,500

Interest Payable                                                            4,400

Dividends Payable                                                        5,802

Unearned Rent Revenue                                             1,800

Bonds Payable (10%)                                                  44,000

Common Stock ($10 par)                                           38,000

Paid-in Capital in Excess of Par—Common Stock    10,240

Preferred Stock ($20 par)                                         20,000

Paid-in Capital in Excess of Par—Preferred Stock     3,000

Retained Earnings                                                     65,330

Treasury Stock                               2,600

Cash Dividends                              5,802

Sales Revenue                                                       570,000

Rent Revenue                                                            5,400

Bad Debt Expense                        5,530

Interest Expense                           4,400

Cost of Goods Sold                  380,000

Depreciation Expense                 6,240

Other Operating Expenses       36,900

Salaries and Wages Expense   63,600

Total                                       $839,412              $839,412

c) Cash Account Adjustment:

Balance as per Trial Balance $26,100

Preferred Stock                       23,000

Common Stock                       24,000

Treasury Stock                        (11,960)

Adjusted Cash balance         $61,140

d) Income Statement

Sales Revenue                                            $570,000

Cost of goods sold                                       380,000

Gross profit                                                 $190,000

Rent Revenue                                                   5,400

Total                                                            $195,400

less expenses:

Bad Debt Expense                        5,530

Interest Expense                           4,400

Depreciation Expense                  6,240

Other Operating Expenses       36,900

Salaries and Wages Expense   63,600        116,670

Net Income                                                  $78,730

Retained Earnings                                        65,330

Dividends                                                       (5802)

Retained Earnings carried forward         $138,258

A project manager is preparing two documents for risk management. One contains sources of overall project risk and also summary information on individual risks. The second describes individual risks identified. What name should the project manager give to the first document

Answers

Answer: Risk Report

Explanation:

A Risk Report for a project contains all the risk that the project is exposed to. This includes both project risk as well as individual risks related to the components projects in the overall project.

A Risk Report details the risks such as Supplier failure, Inflation, Pending Government Regulations and the like. It then takes these and summarizes them for presentation to those who require this information in the company so that appropriate safeguards may be set up and precautions taken.

This describes the first document and so should be what the Project Manager names it.

Wings Co. budgeted $572,000 manufacturing direct wages, 2,500 direct labor hours, and had the following manufacturing overhead: Overhead Cost Pool Budgeted Overhead Cost Budgeted Level for Cost Driver Overhead Cost Driver Materials handling $ 196,000 4,900 pounds Weight of materials Machine setup 19,600 560 setups Number of setups Machine repair 1,600 32,000 machine hours Machine hours Inspections 16,500 330 inspections Number of inspections Requirements for Job #971 which manufactured 4 units of product: Direct labor 20 hours Direct materials 220 pounds Machine setup 30 setups Machine hours 16,700 machine hours Inspections 15 inspections The total overhead of Job #971 under the ABC costing is:

Answers

Answer:

Total allocated overhead= $11,435

Explanation:

Giving the following information:

Materials handling $196,000 4,900 pounds

Machine setup $19,600 560 setups  

Machine repair $1,600 32,000 machine hours

Inspections $16,500 330 inspections

Job 971

Direct labor 20 hours

Direct materials 220 pounds

Machine setup 30 setups

Machine hours 16,700 machine hours

Inspections 15 inspections

First, we need to calculate the estimated overhead rate for each activity:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Materials handling= 196,000/4,900= $40 per pound

Machine setup= 19,600/560= $35 per setup  

Machine repair= 1,600/32,000= $0.05 per machine hour

Inspections= 16,500/330= $50 per inspection

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Materials handling= 40*220= 8,800

Machine setup= 35*30= 1,050  

Machine repair= 0.05*16,700=835

Inspections= 50*15= 750

Total allocated overhead= $11,435

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