Answer:
$130,608
Explanation:
To calculate the cost of goods sold per the above information, we need to calculate first the portion of the trade discount on the goods purchased.
Trade discount = Goods purchased × 20% trade discount
= $181,400 × 20%
= $36,280
The next step is to calculate Sales and Gross profit
Sales = [$181,400 - $36,280] = $145,120
Gross profit = $145,120 × 10% = $14,512
Therefore,
Cost of goods sold = Sales - Gross profit
Cost of goods sold =$145,120 - $14,512
Cost of goods sold = $130,608
Hence, Oriole Co. would record $130,608 as cost of goods sold.
Crane Company has a unit selling price of $500, variable costs per unit of $260, and fixed costs of $184,800. Compute the break-even point in units using (a) the mathematical equation and (b) unit contribution margin.
Answer:
Break-even point in units= 770
Explanation:
Giving the following information:
Selling price= $500
Unitary variable cost= $260
Fixed costs= $184,800
To calculate the break-even point in units using the mathematical equation, we need to use the following formula:
Net income= unit contribution margin*x - fixed costs
x= number of units
0= (500 - 260)*x - 184,800
184,800/240 = x
770=x
Now, under the unit contribution margin method:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 184,800/240
Break-even point in units= 770
A company purchased a truck on March 1, 2007 at a cost of $70,000. The truck had an estimated useful life of 5 years and an estimated salvage value of $10,000. The company uses the straight-line method of depreciation. Determine the book value of the truck on December 31, 2011
Answer:
$12,000
Explanation:
The formula for depreciation expense, using straight line method is;
= (Cost - Scrap value) / life time
Give that;
Cost = $70,000
Scrap value = $10,000
Life time = 5 years
= ($70,000 - $10,000) / 5
= $60,000 / 5
= $12,000.
Therefore, book value on December 31, 2011 would be;
= $70,000 - $12,000 × (4 + 10/12)
= $70,000 - $58,000
= $12,000
• Note that we arrived at the value of 10 because March to December is 10 months.
Wally's Party Warehouse provides wholesale party equipment and materials to Party Shops. In 2019, Wally's Party sold 30 bounce houses at $30,000 each. The bounce houses carry a 3-year warranty for defects. Wally estimates that repair costs will average 2% of the total selling price. The estimated warranty liability at the beginning of the year was $26,000. Claims of $19,000 were actually incurred during the year to honor warranties.
What was the balance in the Warranty Liability account at the end of the year?
Answer:
he is probably a b!tsh for wasting money and I hope he is poor now
Explanation:
Delta Corporation has a bond issue outstanding with an annual coupon rate of 7% and 20 years remaining until maturity. The par value of the bond is $1,000. Determine the current value of the bond if present market conditions justify a 14% nominal annual required rate of return.
Answer:
Bond Price= $536.38
Explanation:
Giving the following information:
Face value= $1,000
Number of periods= 20
Cupon rate= 0.07
YTM= 0.14
To calculate the price of the bond, we need to use the following formula:
Bond Price= cupon*{[1 - (1+i)^-n] / i} + [face value/(1+i)^n]
Bond Price= 70*{[1 - (1.14^-20)] / 0.14} + [1,000/1.14^20)
Bond Price= 463.62 + 72.76
Bond Price= $536.38
ILL GIVE BRAINLIEST!! HELP ASAP!!
Answer: B
Explanation: I am pretty sure the answer is going to B, accounting is a profession that requires a lot of math
"I before E, except after C, or when sounded like A, as in 'neighbor' or 'weigh' is an example of a mnemonic. What memory aid does this mnemonic use?"
A. Emotional connection
B. Visual images
C. Song or rhyme
Answer:
C. Song or rhyme
Explanation:
The memory aid is the testing technique in which the students are able to recall the things by practising them many times
Here in the given situation it is mentioned that I before E exclude C etc is an example of a mnemonic
So this represents the song or rhyme memory aid so that the mnemonic could be used as the following sequence is necessary in this
hence, the correct option is C.
If you have serious concerns about the qualifications of a job candidate who has asked you for a written recommendation, you should:_______
Answer:
elect not to write the recommendation.
Explanation:
A job recommendation is a way of vouching for a person's behaviour, honesty, and qualifications to perform a job.
On important step before giving recommendations is to think carefully if you know and trust the person sufficiently to vouch for him.
If a recommendation is written about person and he fails to perform well, the person that wrote the recommendation will lose credibility and his career may be adversely affected.
In this instance since there are serious concerns about the qualifications of a job candidate who has asked you for a written recommendation, elect not to write the recommendation
In a process costing system, when manufacturing overhead costs are applied to the cost of production, they are debited to:
Answer:
The Work in Process Inventory account.
Explanation:
Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis. Process costing typically uses more than one Work in Process Inventory account because costing at each stage of production or manufacturing process.
In a process costing system, when manufacturing overhead costs are applied to the cost of production, they are debited to the Work in Process Inventory account.
In the manufacturing process, partially or partly completed goods that are still in the process of being converted into a finish product are defined as work-in-process inventories.
Generally, the work-in-process inventories include the following raw materials cost, direct labor cost and factory overhead cost.
These category of products are only partially completed and as such are waiting for further processing, still undergoing fabrication or kept in a buffer storage.
In conclusion, Process costing typically uses a separate Work in Process Inventory account for each department while job order costing typically uses only one Work in Process Inventory account for each product.
You meet that special person and get married amazingly your spouse has exactly the same income you do $47,810 if your tax status is now married filing jointly what is your tax liability
Answer:
i think because you are married to yuor spouse i think the tax is$ 13,740
Explanation:
The simple interest rate per year required to accumulate the same amount of money in 2 years at 20% per year compound interest is ___________
Answer: 22%
Explanation:
Compound interest at 20% per year for 2 years is;
= (1 + 20%)² - 1
= 1.44 - 1
= 44%
The simple interest in 2 years will also be 44% for it to be equivalent.
For the yearly simple interest rate simply divide by 2 because simple interest does not get compounded.
= 44%/2
= 22%
Worrying about the choice of an overhead allocation base is a waste of time. In the end, all of the overhead is charged to production. Do you agree with the previous statement? Why or why not?
Answer:
You can do it???????????????
Explanation:
IT
Assume there are two countries (France and the United States) and two goods (Wine and Cheese). In France, labor productivity in Wine is 40 bottles per hour and 30 kilos per hour in Cheese. In the US, labor productivity in Wine is 12 bottles per hour and 12 kilos per hour in Cheese. Given this information, which country has the comparative advantage in Cheese
Answer:
United States
Explanation:
A comparative advantage results when a country's opportunity cost of producing good X is lower than the opportunity cost of producing good X in another country.
France
Opportunity cost of producing wine = 30/40 = 0.75 kilos of cheese
Opportunity cost of producing cheese = 40/30 = 1.33 bottles of wine
United States
Opportunity cost of producing wine = 12/12 = 1 kilo of cheese
Opportunity cost of producing cheese = 12/12 = 1 bottle of wine
France has a comparative advantage in the production of wine, and the US has a comparative advantage in the production of cheese.
A company produces and sells 6,400 recliners each year. Each production run has a fixed cost of $400 and an additional cost of $35 per recliner. To store a recliner for a full year costs $8. What is the optimal number of recliners the company should make during each production run? Do not include units with your answer.
Answer:
800 Recliners
Explanation:
Calculation for the optimal number of recliners the company should make during each production run
Using this formula
Economic Order Quantity (EOQ) =√ [(2 D x S) / C]
Where,
Annual Demand (D) = 6,400 Recliners
Fixed Ordering Cost (S) = $400
Carrying cost per recliner (C) = $8
Let plug in the formula
Economic Order Quantity (EOQ)= √[(2 x 6,400 x $400) / $8]
Economic Order Quantity (EOQ)=√$5,120,000/$8
Economic Order Quantity (EOQ)=√$640,000
Economic Order Quantity (EOQ)= 800 Recliners
Therefore the optimal number of recliners the company should make during each production run will be 800 Recliners
If a household's income rises from $46,000 to $48,000 and its consumption spending rises from $38,00 to $39,500 then the MPC is
Answer:
0.5
Explanation:
marginal propensity to consume Can be regarded as the increase in pay that is been consumer experience on the purchasing of products which is just a part at aggregate. Instead of consumer to save
We are told that income rises from $46,000 to $48,000.
The difference= $48,000-$46,000= $2000
✓consumption spending rises from $38,00 to $39,500
The difference= $39,500-$38,00= $1000
Then the marginal propensity to consume can calculated as ratio of the difference in consumption spending to income rise
=1000/2000=0.5
Therefore, the MPC is 0.5
Cash consists of: a. coin, currency, and postage stamps. b. coins, currency, checks, money orders, money on hand or on deposit in a bank or similar depository. c. coins, currency, postage stamps, money on deposit in a bank. d. all of the above.
Answer:
b. coins, currency, checks, money orders, money on hand or on deposit in a bank or similar depository.
Explanation:
Cash consists of coins, currency, checks, money orders, money on hand or on deposit in a bank or similar depository. Cash is distinct from postage stamps, credit, money orders or checks that are not physically being held by the holder.
Cash can be defined as a legal tender such as money in its physical form which can typically be used to purchase goods and services, as well as pay debt.
For Saxton, Inc., variable manufacturing overhead costs are expected to be $14,500 in the first quarter of 2017, with $3,600 increments in each of the remaining three quarters. Fixed overhead costs are estimated to be $19,800 in each quarter. What is the total amount of overhead to be budgeted for manufacturing overhead in quarter 2
Answer:
Total overhead= $41,500
Explanation:
Giving the following information:
Variable overhead first quarter= $14,500
Variable overhead increases= $3,600
Fixed overhead= $19,800
To calculate the total overhead for a specific quarter, we need to use the following formula:
Total overhead= fixed overhead + variable overhead + variable overhead increase*x
x= number of quarter
Now, for the second quarter:
Total overhead= 19,800 + 14,500 + 3,600*2
Total overhead= $41,500
On January 1, 2016, Horton Inc. sells a machine for $23,000. The machine was originally purchased on January 1, 2014 for $40,000. The machine was estimated to have a useful life of 5 years and a residual value of $0. Horton uses straight-line depreciation. In recording this transaction:
Answer:
The entry to record this transaction will be,
Accumulated depreciation 16000
Cash 23000
Loss on disposal 1000
Machine 40000
Explanation:
The straight line method of depreciation charges a constant depreciation expense throughout the useful life of the asset. The formula to calculate depreciation expense per year under this method is,
Depreciation expense per year = (Cost - Residual value) / Estimated useful life of the asset
Depreciation expense per year = (40000 - 0) / 5 = $8000 per year
The net book value of the machine on 1 January 2016 = 40000 - (8000 * 2)
NBV = $24000
As the machine was sold for $23000, the loss on disposal will be,
Loss on disposal = 23000 - 24000 = -1000 or $1000 loss
70 Marketing Dynamics .. .. : : . . : Part 4: Be Your Own Leader Leaders on a Top Secret Mission On December 6, 2011, a woman walked into a Michigan K-Mart and paid off someone else's layaway just in time for the holidays. That one act of kindness, completed in total secrecy, has taken on a life of its own. People have gone into stores with as much as $20,000 in their hands to anonymously pay off the layaways of others. Leaders give back, and they often do without wanting or needing recognition. A leader will always be willing to recognize others, share in other's successes, and help whenever and wherever they see a need. True leaders will do without expecting anything in return." As a leader, think of something you could do for someone else. You do not have to spend any money if you do not want to. Giving back is rarely about money. It can be as simple as leaving a note recognizing someone for the work he or she has done. ;. 1. Create your own secret mission. Decide what you can do as a leader to give back. Maybe you will volunteer at a local shelter or write a note to all of your teachers and place it in their school : mailboxes. There are so many things you could do; narrowing it down to just one thing might be the most difficult part. Fill in the following information about your secret mission. · i' ., . . .. . . ..... ....... . Mission title: Why I chose this mission: Why I believe it is important for leaders to give back: - . . NR22 W Date(s) of my mission:_ Resources I will need: - S. A W. W W Others I will need to include for the mission to succeed: mm / : VY. W : : : : TUTTE 1. . '. . 2. Once you have completed your mission, complete a self-reflection. Include other ways that, as a leader, you can give back in the future. Self-reflection: I.-.... YST - - - - Viet w Futürë thoughts and plans: .
If
you are
using $50 to buy your groceries, which function of money is
this?
Answer:
Medium of Exchange
Explanation:
A medium of exchange is an instrument used as an intermediary to facilitate the exchange of goods and services. A good medium of exchange must give a fair valuation of the items being traded. Money is a widely accepted medium of exchange.
Almost all items in a market have a monetary value attached to them. A Buyer or seller would easily know the amount of money needed to trade an item. The $50 is being used as a medium of exchange for the purchase of groceries. The seller accepts the money if they agree with the buyer on the quantity of groceries worth $50.
Sandel Company makes 2 products, footballs and baseballs. Additional information follows:
Footballs Baseballs
Units 4,000 2,500
Sales $60,000 $25,000
Variable costs 36,000 7,000
Fixed costs 9,000 9,000
Net income $15,000 $ 9,000
Profit per unit $3.75 $3.60
Instructions
Sandel has unlimited demand for both products. Therefore, which product should Sandel tell his salespeople to emphasize?
Answer:
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The purpose of a Flowchart is to identify the complexity of the process and to assist in identifying _____ in the process.
a. Defects
b. Critical steps
c. Test stations
d. Line operators
Answer:
b. Critical steps
Explanation:
The use of the flow chart is to make identification of the critical points or steps in each and every point for accessing the potential hazards also it became useful for the important points that should be controlled in the process
Therefore in the given case, the option B is correct
And, the same is to be considered
Beckman Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $120,000. The asset is expected to have a salvage value of $15,500 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset's book value on December 31, Year 2 will be:
Answer: 50400
Explanation:
- Straight-line rate= 100%/ 5 years= 20%
- Double declining Expense= 20% x 2= 40%
From Oct1 to Dec 31 is 9 months/ 12 months a year
- Depreciation Expense year 1= $120000x 0.4x 9/12= $36000
- Book value year 1= beginning year 2= $120000-$36000= $84000
- Book value year 2= $84000- ($84000x0.4)= $50400
The asset is valued at $60,000 at the end of year 2 December by using the asset depreciated on the double-declining-balance method.
What is Depreciation?Depreciation is allocated to charge a reasonable percentage of the depreciable value throughout each accounting period for the asset's anticipated useful life.
Given,
Purchase Value = $120,000 ( On October 1)
Expected Life = 5 Years
Salvage Value = $15,500
Required to calculate asset value at the End of Year 2 =?
Depreciation Rate = Book Value x 2 divided by Life of Asset
= $120,000 x 2/5 = $48,000
Depreciation Rate = 48,000 x 100/ 120,000 = 40%
Book Value of Year 1 = 120,000 - 120,000 x 40% x 3/12 = $108,000
Book Value for end Year 2 = $108,000 - 120,000 x 40% = $60,000.
Thus, the Book value of the asset at end of year 2 is $60,000.
Learn more about Depreciation here:
https://brainly.com/question/15085226
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With an understanding of which consumers buy a firm's new products at each stage of the diffusion of innovation process, the firm can adjust its __________ strategy accordingly.
Answer:
Advertising, promotion, pricing, sales and distribution.
Explanation:
Marketing mix refers to the choices about product attributes, distribution strategy, communication strategy, and pricing strategy that a firm offers its targeted markets.
Generally, a marketing mix is made up of the four (4) Ps;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
Hence, with an understanding of which consumers buy a firm's new products at each stage of the diffusion of innovation process, the firm can adjust its advertising, promotion, pricing, sales and distribution strategy accordingly.
what happens to the supply and demand when price level decreases ?
Answer:
If the price decreases then the supply in demand increases.
Explanation:
The reason behind this is to do with how the law of demand works.
The Drogon Co. just issued a dividend of $2.96 per share on its common stock. The company is expected to maintain a constant 5 percent growth rate in its dividends indefinitely. If the stock sells for $35 a share, what is the company's cost of equity
Answer: 13.88%
Explanation:
The cost of equity can be used along with the variables given to calculate the price of a share using the Gordon Growth model so this can be remodeled to solve for the cost of equity.
Price of stock = (Dividend * (1 + growth rate)) / (cost of equity - growth rate)
35 = (2.96 * (1 + 5%)) / (cost of equity - 5%)
35 = 3.108 / (cost of equity - 5%)
(cost of equity - 5%) * 35 = 3.108
Cost of equity - 5% = 3.108 / 35
Cost of Equity = (3.108 / 35) + 5%
= 13.88%
If a company’s net income increased while its net sales remained constant, the company's profit margin would:_____
a. Compare favorably to its competitors.
b. Decrease.
c. Increase.
d. Not be impacted.
Answer:
c. Increase.
Explanation:
If a company’s net income increased while its net sales remained constant, the company's profit margin would increase.
This is simply because the amount of money that is being generated from the sales of goods and services are increasing.
The most expensive benefit is usually
a. life insurance
b. retirement
C.
health care
d. day care
Please select the best answer from the choices provided
Ο Α
ОВ
C
D
Answer:
c
Explanation:
the health care because it is very expensive benefit
Answer:
C. Health care
Explanation:
Just took it on edge and got it right!!
I hope this helps!!!
Employees who will have performance evaluated according to the budget standards should not be involved in preparing the budget.
a. True
b. False
Answer:
false
Explanation:
Red Co.'s beginning Common Stock balance was $110,000 and their ending Common Stock balance was $125,000. This will be reported as _____ in the statement of cash flows.
Answer:
an increase of $15,000 in the financing activities section
Explanation:
In determining the financial position of a business there are 3 financial statements that are used: balance sheet, cash flow statement, and income statement.
The cash flow statement shows how cash inflows and outflows happen in a business. These are attributed to various activities like operations, financing, and investing activities.
Financing activities show how cash flows when a business raises capital. The aim is to pay back creditors and owners by issuing stock, selling stock, collecting loans, and paying dividends.
In the given scenario Red Co.'s had common stock of $110,000 which increased to $125,000.
So there was a selling of shares that increased their stocks by $15,000.
This is a financing activity.
Answer:
This will be reported as an increase of $15,000 in the financing activities section in the statement of cash flows.
Explanation:
This can be determined as follows:
Beginning Common Stock balance = $110,000
Ending Common Stock balance = $125,000
Therefore, we have:
Cash received from issuing stock = Ending Common Stock balance - Beginning Common Stock balance = $125,000 - $110,000 = $15,000
Since cash received from issuing stock is an item under the the financing activities section in the statement of cash flows, this will therefore be reported as an increase of $15,000 in the financing activities section in the statement of cash flows.
Fall Corp's total assets at the end of last year were $460,000 and its net income was $32,750. What was its return on total assets
Answer:
7.12%
Explanation:
Fall corporation total assets at the end of last year was $460,000
The net income was $32,750
Therefore the total return on assets can be calculated as follows
= net income / Total assets
= 32,750/460,000
= 0.07119×100
= 7.12%
Hence the return on total assets is 7.12%
