Answer:
$1,600
An example of accrued receivable is recording interest revenue before it is been received.
Explanation:
Principal =$80,000
Interest rate =4%.
July to December =6 months
Hence:
$80,000 * 4% * 6/12
=$80,000×0.04×0.5
= $1,600
Perry accrued interest on December 31st is $1,600
An example of accrued receivable is recording interest revenue before it is been received.
CalculatorPrint Item On October 1, Black Company receives a 6% interest-bearing note from Reese Company to settle a $15,000 account receivable. The note is due in six months. At December 31, Black should record interest revenue of a.$225 b.$235 c.$232 d.$222
Answer:
Option A, $225 is correct
Explanation:
The interest revenue=face value of the note*interest rate*3/12
Three months of interest revenue is due from October 1st till December 31st.
The interest revenue that Black company would recognize =$15,000*6%*3/12=$225
The correct option is A,$225 amount of interest revenue would be recorded by Black Company in the year by debiting interest receivable(pending the maturity of the note) and crediting interest revenue
Aston, a tenant in Jackie's apartment, had repeatedly complained about the leaky faucets in the apartment. However, Jackie was not interested in doing anything about it. Under the landlord and tenant law, what remedies did Aston have?
a. To terminate the lease, then seek damages or rent adjustment.
b. To seek constructive eviction.
c. To obtain a court order for quiet enjoyment.
d. To obtain the doctrine of caveat emptor under the common law.
e. None, because she was on a periodical tenancy.
Answer:
a. To terminate the lease, then seek damages or rent adjustment.
Explanation:
when a landlord breaches his/her duties, the tenant has three available remedies:
terminationdamages rent adjustmentGenerally when things like this happen, the tenant will terminate the contract and in order to do so must leave the premises and notify the landlord that he/she is doing so and the reasons why. Then the tenant can seek compensation for damages caused by the landlord's breach of duties. Damages are generally limited to relocation costs, e.g. costs of finding a new apartment and moving there.
If Aston decided to stay at the apartment, he could seek to fix the plumbing issues and seek compensation from the landlord.
Out of the possible options, option a is correct.
Ma Barker Company has a job-order costing system and uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Manufacturing overhead cost and direct labor hours were estimated at $100,000 and 40,000 hours, respectively, for the year. In July, Job #334 was completed at a cost of $5,000 in direct materials and $2,400 in direct labor. The labor rate is $6 per hour. If Job #334 contained 200 units, the unit product cost on the completed job cost sheet would be:___________.
a) $42.00
b) $39.50
c) $41.90
d) $37.00
Answer:
The correct answer is option (A) $42.00
Explanation:
Solution
Given that:
The established rate is given as = 100,000/40,000
= $2.5 per hour
Thus
The cost of the job is shown is shown below:
The direct material = $5,000
The direct labor = $2400
Then
The manufacturing overheard is = 400 * 2.5 = $1,000
So,
The total cost is = $5,000 + $2400 + $1000 = $8,400
To get our unit cost,
Unit cost = $8400/200 = $42.00
It is important to know that, the number of labor hours used in jobs = Total labor cost/Rate per hour
=2,400/6 = 400 hours
Shelby offers to make digital copies of Relay Company's business conference videotapes, CDs, DVDs, and other media for $500. Under the mailbox rule and the Uniform Electronic Transactions Act (UETA), Relay's acceptance by e-mail will be considered effective when:
a. received
b. sent
c. followed up by a confirmation letter
d. sent by regular mail
According to the condition, of the Uniform Electronic Transactions Act (UETA), Relay's acceptance by e-mail will be considered effective when sent. Thus, the correct option is (B).
You can create, transmit, and receive information rapidly, and the users of your account may access information quickly, frequently mass-texting a large number of individuals at once.
The process of sending an email is immediate, but the writer should not anticipate an instant response.
Many people only manage their email during regular work hours since it is an essential component of their profession.
Therefore, the correct option is "B".
To know more about the e-mail, visit:
https://brainly.com/question/30159736
#SPJ2
Peter Plaintiff’s son is killed while working overseas for a United States corporation that deals in proprietary petroleum extraction and production. Peter Plaintiff brings a wrongful death lawsuit on behalf of his son’s estate against this corporation and requests a wide scope of business documents related to the corporation and its overseas operations under the Freedom of Information Act (FOIA). What defenses, if any, does the corporation have against revealing the requested information under the FOIA?
Answer and Explanation:
The defenses or protections the business has been against releasing the relevant documents underneath the FOIA include whether Peter Plaintiff's required documentation is private and confidential as well as the business is not allowed to release this detail to anyone outside the organization.Because the statement is available nondisclosure, the company has to safeguard and defend this relevant data, and therefore not start sharing it with someone outside the establishment.Suppose you have a linear integer optimization problem. You solve the problem as a linear optimization problem by ignoring the integer constraints and obtain an integer optimal solution (i.e., your model did not require the variables to be integer, but it turned out when you solved the problem Solver found an optimal answer where the variables are integer).
Which of the statements below are correct (choose only one):
A. You can categorically state that you have the optimal solution to the integer optimization problem.
B. You can categorically state that you do not have the optimal solution to the integer optimization problem.
C. None of the above.
Answer:
Option(A) is the correct answer to the given question .
Explanation:
The integer programming problem is also known as the computational optimization or the functionality method that main objective to limits the some or many of the parameters may be integer. The objective of linear optimization problem to make the objective function as well as integer constraints linear .
The integer programming problem conclusively specify of the optimised solution to the issue of the integral optimisation.All the other option are not correct for the linear integer optimization problem because they are not give objective function as well as integer constraints as linear .Chang Industries has 1,200 defective units of product that have already cost $13.20 each to produce. A salvage company will purchase the defective units as they are for $4.20 each. Chang's production manager reports that the defects can be corrected for $6.80 per unit, enabling them to be sold at their regular market price of $19.40. The incremental income or loss on reworking the units is: Multiple Choice $18,240 income. $10,080 loss. $8,160 loss. $15,120 income. $10,080 income.
Answer:
$10,080 income
Explanation:
The computation of incremental income or loss on reworking the units is shown below:-
Incremental income on reworking unit = Sales after reworking - Sales to salvage company - Incremental cost
= (1,200 × $19.40) - (1,200 × $4.20) - (1,200 × $6.80)
= $23,280 - $5,040 - $8,160
= $10,080 income
Therefore for computing the Incremental income on reworking unit we simply applied the above formula.
Using these data from the comparative balance sheet of Ramirez Company, perform horizontal analysis.
Dec. 31, 2014 Dec. 31, 2013 Amount Percentage
Accounts receivable $535,000 $450,000 _______ _________
Inventory $792,000 $606,000 _______ _______
Total assets $3,138,000 $2,707,000 _______ _______
Answer:
Ramirez Company comparative balance sheet
2014 2013
Particulars Amount Percent Amount Percent
Accounts receivable 535,000 17.05% 450,000 16.62%
Inventory 792,000 25.24% 606,000 22.39%
Other Assets 1,811,000 57.71% 1,651,000 60.99%
Total assets 3,138,000 100% 2,707,000 100%
2014 Workings
Account receivables= 535,000 / 3,138,000 * 100 = 17.05%
Inventory= 792,000 / 3,138,000 * 100 =25.24%
Other Assets= 1,811,000 / 3,138,000 * 100 = 57.71%
2013 Workings
Account receivables= 450,000/2,707,000 * 100= 16.62%
Inventory=606,000/2,707,000 * 100= 22.39%
Other Assets=1,651,000/2,707,000 * 100= 60.99%
The following table shows a simplified consolidated balance sheet for the entire
banking system (all figures are in billions). The reserve ratio is 25 percent.
Assets Liabilities &Equity
Reserves 96 Checkable Deposits 400
Securities 104
Loans 200
a. 1. What is the amount of excess reserves in this banking system?
2. What is the maximum amount the banking system might lend?
3. Show how the balance sheet would look after this amount has been lent
(construct new balance sheet or add columns).
4. What is the size of the monetary multiplier?
b. 1. Answer the questions in part a assuming the reserve ratio is 15 percent.
2. What is the resulting difference in the amount that the banking system can
lend? How do you explain the difference?
Answer:
Kindly check explanation
Explanation:
Excess reserve = (Actual reserve - required reserve)
Required reserve = reserve ratio × Checkable deposit
Required reserve = 0.25 × $400 billion
Required reserve = $100 billion
Excess reserve = $96 - $100 = - $4billion
B) money multiplier = 1/ required reserve ratio
1/0.25 = 4
Maxumum amount that can be Lent = 4 × 4 = $16 million
If reserve ratio = 15%
Required reserve = 0.15 × $400 billion = $60 billion
Excess reserve = $96 - $60 = $36 billion
Monetary multiplier = 1/ 0.15 = 6.667
Maximum amount of loan = 6.667 × 36 = $240 billion
Discuss silence is golden in relation to ethics at the work place
Answer:
Silence is a golden virtue and it involves more of listening than speaking .It is required under certain circumstances and environment. It is always advisable to remain quite silent and not be too quick to respond to situations or issues so as to avoid making and saying wrong words.
The ethics in a workplace involves communicating with others with less amount of talking as possible and more of body languages and signs. This is because the workplace is meant to be a serene place. Lack of serenity can cause distractions and Lower the productivity of the workers.
Assume that the full-employment level of output is $5000 billion and the natural unemployment rate is 5%. Suppose the current unemployment rate is 8%. What would be the current level of output according to Okun's law (when the Okun's law coefficient is 2)?
Answer:
$4700 Billion
Explanation:
Solution
Given that:
Assume that full-employment level of output is =$5000 billion
Natural employment rate is =5%
Current unemployment rate = 8%
Now,
We find the current level of output according to Okun's law when the Okun's law coefficient is 2 which is given below:
2 (unemployment rate -natural unemployment) = potential GDP - actual GDP/potential GDP *100% this is known as the Okun's law
Thus
2( 8 - 5 ) = 5000 - actual GDP / 5000 * 100
or (6 * 5000 ) / 100 = 5000 - actual GDP = $4700 Billion
or
300 = 5000 - actual GDP
Hence, the actual GDP or current output = 5000 - 300 = 4700 $ billion
Overhead Variance (Over- or Underapplied), Closing to Cost of Goods Sold At the end of the year, Estes Company provided the following actual information: Overhead $412,600 Direct labor cost 532,000 Estes uses normal costing and applies overhead at the rate of 75% of direct labor cost. At the end of the year, Cost of Goods Sold (before adjusting for any overhead variance) was $1,670,000.Required:
1. Calculate the overhead variance for the year. $2. Dispose of the overhead variance by adjusting Cost of Goods Sold.
Answer:
1.
$13,600 unfavorable
2.
$1,683,600
Explanation:
Overhead variance is difference between the budgeted and actual values of the overhead incurred by a company.
Applied Overhead is the overhead value calculated by multiplying the actual activity and budgeted applied rate.
Applied Overheads = $532,000 x 75% = $399,000
Actual Overheads = $412,600
Overheads Variance = Applied Overheads - Actual Overheads
Overheads Variance = $399,000 - $412,600 = -$13,600
As actual overheads are incurred more than the applied overhead, so the variance is unfavorable.
$13,600 unfavorable
2.
As the overhead is under-applied and it need to be adjusted and added in the cost of goods sold.
Cost of Goods sold = $1,670,000
Adjusted cost of goods sold = $1,670,000 + $13,600
Adjusted cost of goods sold = $1,683,600
Hatfield Corporation, which has only one product, has provided the following data concerning its most recent month of operations:Selling price $123Units in beginning inventory 0Units produced 6,400Units sold 6,100Units in ending inventory 300Variable costs per unit: Direct materials $45 Direct labor $30 Variable manufacturing overhead $1 Variable selling and administrative $8Fixed costs: Fixed manufacturing overhead $140,800Fixed selling and administrative $91,500What is the net operating income for the month under variable costing?a) $12,200b) ($17,200)c) $5,600d) $6,600
Answer:
Instructions are below.
Explanation:
Giving the following information:
Selling price= $123
Units sold= 6,100
Variable costs per unit:
Direct materials $45
Direct labor $30
Variable manufacturing overhead $1
Variable selling and administrative $8
Fixed costs:
Fixed manufacturing overhead $140,800
Fixed selling and administrative $91,500
First, we need to calculate the total variable cost per unit:
Variable cost per unit= 45 + 30 + 1 + 8= $84
Income statement:
Sales= 6,100*123= 750,300
Total variable cost= 6,100*84= (512,400)
Contribution margin= 237,900
Fixed manufacturing overhead= (140,800)
Fixed selling and administrative= (91,500)
Net operating income= 5,600
Managers can use CSR and sustainability information as important feedback to guide decision making in a variety of areas. Which of the following areas is least likely to be impacted by this feedback?
a. cost control decisions
b. FASB compliance with U.S. GAAP
c. strategic and operational areas
d. resource allocation decisions
Answer:
Option B. FASB compliance with U.S. GAAP
Explanation:
Because FASB is an independent body and publishes amendmends in Accounting standards which are internationally accepted so it has nothing to do with the US GAAP. Our decision making impact can be seen on the matters that are dependent on us not on the things we don't have control of or if they independent body. So the least impacted would be FASB compliance with US GAAP.
Whereas the rest of options are controlled by the managers so they can be easily influenced by the decision making power of the managers.
uppose McKnight Corp.'s breakeven point is revenues of $ 1 comma 100 comma 000. Fixed costs are $ 660 comma 000. Requirements 1. Compute the contribution margin percentage. 2. Compute the selling price if variable costs are $16 per unit. 3. Suppose 65 comma 000 units are sold. Compute the margin of safety in units and dollars. 4. What does this tell you about the risk of McKnight making a loss? What are the most likely reasons for this risk to increase?
Answer:
1. Compute the contribution margin percentage.
40%2. Compute the selling price if variable costs are $16 per unit.
$26.673. Suppose 65 comma 000 units are sold. Compute the margin of safety in units and dollars.
margin of safety in $ = $633,550margin of safety in % = 36.55%4. What does this tell you about the risk of McKnight making a loss? What are the most likely reasons for this risk to increase?
Since the contribution margin is relatively high, this means that the production costs are relatively low (compared to selling price). The associated risks may come from high leverage, e.g. machinery purchased on credit that results in high interest expense. For the most part, having a high contribution margin is generally very good, just ask Apple.Explanation:
break even point is $ = $1,100,000 (= break even point units x selling price)
fixed costs = $660,000
contribution margin % = (total sales - total variable costs) / total sales
total variable costs = $1,100,000 - $660,000 = $440,000
contribution margin % = ($1,100,000 - $660,000) / $1,100,000 = 40%
variable costs = $16 per unit
0.4 = (x - $16) / x
0.4x = x - $16
$16 = 0.6x
x = $26.67
65,000 x $26.67 = $1,733,550
margin of safety in $ = $1,733,550 - $1,100,000 = $633,550
margin of safety in % = $633,550 / $1,733,550 = 36.55%
In the airline industry, frequent flyer programs, ticket kiosks, and e-ticketing are all examples of capabilities that are __________ but no longer __________. a. valuable; rare b. rare; valuable c. valuable; causally ambiguous d. socially complex; rare
Answer:
a. valuable; rare
Explanation:
There are various examples of capabilities like
1. Frequent flyer programs are nothing but while booking an online flight you just need to sign up so that the chances of earning reward points could be high
2. The ticket kiosks refer to the self service in which you can purchase the tickets related to the entertainment
3. E-ticketing is online ticketing which you can store online instead of keeping it with you in a paper form
These are valuable examples but there are no longer rare
Hence, the first option is correct
Exercise 11-6 Net present value LO P3 A new operating system for an existing machine is expected to cost $520,000 and have a useful life of six years. The system yields an incremental after-tax income of $150,000 each year after deducting its straight-line depreciation. The predicted salvage value of the system is $10,000. A machine costs $380,000, has a $20,000 salvage value, is expected to last eight years, and will generate an after-tax income of $60,000 per year after straight-line depreciation. Assume the company requires a 10% rate of return on its investments. Compute the net present value of each potential investment. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)
Answer:
NPV of investment 1: $509,131
NPV of investment 2: $269,513
Explanation:
initial investment -$520,000
6 year useful life, depreciation per year = ($520,000 - $10,000) / 6 = $85,000
free cash flow per year = $150,000 + $85,000 = $235,000
free cash flow last year = $235,00 + $10,000 = $245,000
NPV = -$520,000 + $235,000/1.1 + $235,000/1.1² + $235,000/1.1³ + $235,000/1.1⁴ + $235,000/1.1⁵ + $245,000/1.1⁶ = -$520,000 + $213,636 + $194,215 + $176,559 + $160,508 + $145,917 + $138,296 = $509,131
initial investment -$380,000
8 year useful life, depreciation per year = ($380,000 - $20,000) / 6 = $60,000
free cash flow per year = $60,000 + $60,000 = $120,000
free cash flow last year = $120,00 + $20,000 = $140,000
NPV = -$380,000 + $120,000/1.1 + $120,000/1.1² + $120,000/1.1³ + $120,000/1.1⁴ + $120,000/1.1⁵ + $120,000/1.1⁶ + $120,000/1.1⁷ + $140,000/1.1⁸= -$380,000 + $109,091 + $99,174 + $90,158 + $81,962 + $74,501 + $67,737 + $61,579 + $65,311 = $269,513
The expected average rate of return for a proposed investment of $800,000 in a fixed asset with a useful life of four years, straight-line depreciation, no residual value, and an expected total net income of $360,000 for the four years is
Answer:
22.5%
Explanation:
For computation of return on investment first we need to find out the average investment and average income per year which is shown below:-
Average investment = Proposed investment ÷ Average
= $800,000 ÷ 2
= $400,000
Now, the Average income per year = Expected total net income ÷ Number of year
= $360,000 ÷ 4
= $90,000
Return on investment = Average income per year ÷ Average investment
= $90,000 ÷ $400,000
= 0.225
or
= 22.5%
A 22-year old, unmarried, new customer contacts you, explaining that he just inherited $10,000,000 and wishes to invest the money aggressively to produce superior returns. He is risk-tolerant and understands the use of leverage and shorting as ways of enhancing returns. For this client, the best recommendation would be a: A hedge fund B fund of hedge funds C growth fund D value fund
Answer:
B fund of hedge funds
Explanation:
The motive of the investor is to maximizing the return and minimizing the risk
The hedge fund refers to that fund in which the portfolio of investment is protected from the uncertainty of the market and at the same time it also generates the positive return when the market is at recession or in boom period
While on the other hand, the fund of the hedge fund is a portfolio or mix of hedge funds shares in which it is applied to any type of investment fund
According to the given situation, the new customers invest his money to generate high returns moreover he is also risk tolerant and finds the number of ways for enhancing the returns so for this situation, the best option fit is option B.
The Fine Point Company currently produces all of the components for its one product, an electric pencil sharpener. The unit cost of manufacturing the motor for this pencil sharpener is: Direct materials$1.75 Direct labor$1.65 Variable overhead$0.75 Fixed overhead$0.60 The company is considering the possibility of buying this motor from a subcontractor and has been quoted a price of $3.60 per unit. The relevant cost of manufacturing the motor to be considered in reaching the decision is:
Answer:
$4.15 per unit
Explanation:
The computation of the relevant cost of manufacturing the motor is shown below:
Relevant cost per unit = Direct material per unit + direct labor per unit + variable overhead per unit
= $1.75 + $1.65 + $0.75
= $4.15 per unit
For reaching the decision, we simply added the direct material per unit, direct labor per unit and variable overhead per unit so that the correct answer could arrive
Based on guidelines established by the accounting manager, Jaime, the accounts payable clerk, makes payments to vendors in order to maximize discounts. What type of decision does this represent?
Answer:
Programmed.
Explanation:
This is a form of decision that is has been made or is been made by as manager just like Jaime the account managing clerk which is repetitive or occurs steadily and over and over. The fact that it happens this steadily makes it a programmed decision.
This decision making are always taken in accordance with some establishment habit, regulations or procedures while the nature of problem that requires a non programmed decision is unstructured and something different. It needs a higher management participation.
In programmed decision making, there could likely be no error in the decisions because it is a routine and managers usually have the information they need to create rules and guidelines to be followed by others.
Toward the end of the selection process, Eleanor is one of two final candidates. She meets with the company's executive vice-president in her third interview, and they spend most of the time discussing Eleanor's experiences working in different corporate cultures. This interview is likely a structured interview.A. TrueB. False
Answer:
The correct answer is the option A: True.
Explanation:
To begin with, the term of "structured interview" refers to the type of interview that is previously planned in order to already had the questions by the time the person comes to the interview, and therefore that it does not implicates to be doing questions at random. Moreover, it is used in order to gain time and to obtain the major amount of information about the person that the interviewer wants. That is why, that in this case is likely an structured interview due to the fact that the employeer already knew what he wanted to know about the person and therefore he is focus on having that information, in this case, previous experience work.
Murphy Printers (MP) manufactures printers. Assume that MP recently paid $ 500 comma 000 for a patent on a new laser printer. Although it gives legal protection for 20 years, the patent is expected to provide a competitive advantage for only eight years.
Requirements
1. Assuming the straight-line method of amortization, make journal entries to record (a) the purchase of the patent and (b) amortization for the first full year.
2. After using the patent for four years, MP learns at an industry trade show that another company is designing a more efficient printer. On the basis of this new information, MP decides, starting with year 5, to amortize the remaining cost of the patent over two remaining years, giving the patent a total useful life of six years. Record amortization for year 5.
Answer: The answer is given below
Explanation:
1. The journal entries to record the purchase of the patent and the amortization for the first full year has been solved and attached.
2. The amortization expense of he 4 years will be:
= $62500 × 4
= $250,000
Therefore, the book value of the patent will be:
= Cost of the patent - amortization expense
= 500,000 - 250,000
= $250,000
Amortization for year 5 = Book value/Estimated useful life remaining
= 250,000/2
= $125,000
The journal for the amortization expense for year 5 has been attached
Suppose that M = 300, P = 100, and Y = 6. Then the velocity of circulation equals Select one: a. 2.00. b. 3.00. c. 50 d. 0.50. e. 0.02.
Answer:
a. 2.00.
Explanation:
The formula and the computation of the velocity of circulation are shown below:
According to the quantity money theory
M = Total money
V = Velocity
P = Price level
Y = Volume of goods and services
As we know that
Total amount of money in the economy × velocity = Price level × volume of goods and services
300 × velocity = 100 × 6
300 × velocity = 600
So, the velocity is
= 600 ÷ 300
= 2
Hence, the first option is correct
"Cincinnati Supply, Co. is a local supplier to the Kraft Heinz Company, which is the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world. Cincinnati Supply, Co. purchased new furniture at a cost of $33,000 on January 1. The furniture is estimated to have a useful life of 6 years and a $3,000 salvage value. The company uses the straight-line method of depreciation. What is the amount of depreciation expense reported on December 31
Answer:
Annual depreciation= $5,000
Explanation:
Giving the following information:
Purchasing price= $33,000
Salvage value= $3,000
Useful life= 6 years
To calculate the depreciation expense under the straight-line method, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (33,000 - 3,000)/6
Annual depreciation= $5,000
you work at an electronYou work at a local electronics store, Electronics Warehouse. While you are working you spot a customer who appears to place something into their backpack (which you think is an item they haven't paid for). Before they exit the store you yell "STOP THAT THIEF" and another employee tackles the customer at the exit. When the customer is tackled he injures his knee and is spotted by his current boss. You and the employee escort the customer back to the security office and rummage through his backpack, but unfortunately you don't find any evidence that something was stolen, so you release the customer and apologize for the mix-up. The next day the customer returns to his job and is fired for being "a thief" by his boss who witnessed the events at the electronics store the day before. a. Explain in detail what tort theories the customer can sue the Electronics Warehouse. Would he be successful? b. Can you or the other employee be sued for a tort? If so, what tort(s)? c. What defenses would the Electronics Warehouse raise? Would they be successful?
Answer: The answers are provided below
Explanation:
a. Yes, the customer can sue the Electronics warehouse. The customer was wrongly accused of stealing and was called a thief in front of everyone present in the store. In this case, the customer has lost his reputation.
The customer can be successful because he was called a thief which he wasn't. He got injured due to this and also lost his job. This is a serious misconduct and offense and the customer can be successful if he sue the Electronics company.
b. Yes, the employee and I can be sued for tort as we called him a thief without investigation and injured him. This has led to a big harm for the customer who lost his job due to this issue. With the illegal approach, both the employee and the electronic store can face the legal proceedings asnthey can be sued for major loss for the customer.
c. The Electronic Warehouse can raise the defense that they have apologized to the customer and they can also say that they took the measure to protect their stores from theft.
No, they can't be successful as they easily stop the customer without tackling him and making a mockery of him by calling him a thief. He also lost his job due to this. Hence, this is a serious issue that has created emotional and financial damage for the customer.
Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $880. Selected data for the company’s operations last year follow:Units in beginning inventory 0Units produced 280Units sold 240Units in ending inventory 40Variable costs per unit: Direct materials $ 115 Direct labor $ 335 Variable manufacturing overhead $ 35 Variable selling and administrative $ 25 Fixed costs: Fixed manufacturing overhead $ 63,000 Fixed selling and administrative $ 23,000 The absorption costing income statement prepared by the company’s accountant for last year appears below:Sales $ 211,200Cost of goods sold 170,400Gross margin 40,800Selling and administrative expense 29,000Net operating income $ 11,800Required:Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period.
Answer:
Fixed manufacturing cost allocated to inventory= $9,000
Explanation:
Giving the following information:
Units in beginning inventory 0
Units produced 280
Units sold 240
Units in ending inventory 40
Fixed manufacturing overhead $63,000
The absorption costing method includes all costs related to production, both fixed and variable.
First, we need to calculate the unitary fixed manufacturing cost:
unitary fixed manufacturing cost= 63,000/280= $225
Fixed manufacturing cost allocated to inventory= 40*225=$9,000
Suppose that the last four months of sales were 8, 10, 15, and 9 units, respectively. Suppose further that the last four forecasts were 5, 6, 11, and 12 units, respectively. What is the Mean Absolute Deviation (MAD) of this forecasting period?
A. 2
B. -10
C. 5.5
D. 9
E. 10.5
Answer:
-25.5
Explanation:
First, we find the Mean
= 5+6+11+12=34
Absolute mean value= (5-34) + (6-34) + (11-34) + (12-34) = -102/4=-25.5
You own shares in Yahoo that were purchased at a price of $ 24 per share. Microsoft has offered to purchase Yahoo and buy your shares at a price of $ 34 per share. What will be your return if you tender your shares to Microsoft and the deal is completed
Answer:
Return = 41.67%
Explanation
The return on a share is the sum of e capital gains and the dividend received all expressed as a percentage of the of the amount invested.
In the absence of the payment of dividend, the return
Return = capital gain/ Price of share × 100
Capital gain= Price of shares now - cost of shares
Capital gain = 34- 24 = 10
Return = 10/24 × 100 = 41.66666667
Return (%) = 41.67%
Maxxie purchased a tract of land for $24,500. Today, the same land is worth $43,800. How many years have passed if the price of the land has increased at an annual rate of 6.4 percent
Answer:
9.35 years
Explanation:
To find the numbers of years that have passed, you can use the following formula:
n = ln(FV / IV)/ln(1 + r)
n= number of periods
FV= Future value= $43,800
IV= Initial value= $24,500
r= rate= 6.4%
n=ln(43,800/24,500)/ln(1+0.064)
n= ln1.79/ln1.064
n=0.58/0.062
n= 9.35
According to this, 9.35 years have passed.
