Answer:
Hi, the information you have provided is missing information regarding the Budgeted Sales of 1-gallon containers During the year.
However, the following points are provided to help solve the problem.
The Beginning inventory of 1-gallon containers on January 1, 2018 can be determined using the missing figure approach.
Production Budget for the year end December 31, 2018
1-gallon containers
Budgeted Production 1,200,000
Less Budgeted Sales (amount missing) XXX
Less Budgeted Closing Stock (300,000)
Budgeted opening Stock XXX
g In 2010, the MoreForLess Company had revenues of $2,000,000 while costs were $1,500,000. In 2011, MoreForLess will be introducing a new product line that will generate $200,000 in sales revenues and $160,000 in costs. Assuming no changes are expected for the other products, the differential operating profit for 2011 is
Answer:
$40,000
Explanation:
Differential operating profit refers to how much will the company's operating profit change if another project or projects is/are carried out.
In this case, the normal operating profit = $2,000,000 - $1,500,000 = $500,000. When the new product line is introduced, additional revenues and costs will result in $40,000 more in profits (= $200,000 - $160,000). The differential operating profits are the $40,000 generated by the new product line.
assume yourself as a marketing specialist of a company and determine the new product development process by manufacturing a new product for your company ??
anyone have answere ?
Answer:
The Productisation produce is:
1. Ideation/Conceptualisation
This has to do with the generation of a product or service idea;
2. Research / Concept Testing Stage / Analysis
This stage has to do with the research around the idea to determine the availability of market for the product, size and target segment within the market, Growth Potential, competition analysis and current and potential issues that may arise due to the creation of the product;
As a substage of the research phase, a business analysis of the viability of the product is also carried out. this will entail
Cost-Benefit Analysis Resources Required Capital Expenses Profitability/Margin Anticipated Sales
3. Design/Creation of Prototype/Development
For physical products, this stage will look at on-paper design from which a prototype will be created.
After testing to ensure that the prototype works, it is then sent for development. This stage also involves market tests.
4. Launch
This is the final stage of the product development process.
It entails all the go-to-market activities such as market plan execution, sales/production training, execution of distribution plan.
It is possible at this stage to still collect product-related feedback from the market for consideration in the upgrade version of the product to be launched at a later date.
Cheers!
You recently received a letter from Cut-to-the-Chase National Bank that offers you a new credit card that has no annual fee. It states that the annual percentage rate (APR) is 16 percent on outstanding balances. What is the effective annual interest rate?
Answer:
Effect Annual rate of return =17.22%
Explanation:
The Effective annual rate of return is the equivalent rate earned where compounding is done frequently at period or interval less than a year.
EAR = (1+r/m)^n× m - 1
EAR - Equivalent annual rate of return, r- annul rate of return, n-number of years
r= 16/12 =1.333%, n= 1 m= 12 (note there are 12 months in a year)
EAR = (1+0.16/12)^(1×12) - 1
EAR = 1.0133^12 - 1 = 0.1722
EAR 0.1722 × 100 = 17.22%
Effect Annual rate of return =17.22%
Consider the following data for the United States: Year Real GDP ($ billion) 20172017 18 comma 108.118,108.1 20182018 18 comma 638.218,638.2 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. The percentage change in real GDP from 20172017 to 20182018equals= 2.932.93%. (Enter your response rounded to two decimal places and include a minus sign if necessary.) This percentage change in real GDP is also known as
Answer:
The percentage change in real GDP is 2.93%
Real economic growth rate
Explanation:
The percentage in real GDP between year 2017 and 2018 can be computed using the below formula:
% change in real GDP=2018 real GDP-2017 real GDP/2017 real GDP
2017 real GDP is 18,108.1
2018 real GDP is 18,638.2
% change in real GDP=(18,638.2- 18,108.1)/ 18,108.1=2.93%
This percentage change in real GDP is also known as real economic growth rate.Economic growth rate is the rate of improvement in the economy with respect to additional value-adding goods and services produced by an economy with viz-a-viz the prior year
Suppose you win the lottery and have two options: A. Take $1 million now. B. Take $1.2 million to be paid out as 300,000 now and then $300,000 a year for 3 years. Which is the better deal? Assume that the interest rate is 10%. Please show your work. (4 point)
Answer:
A. Take $1 million now.
Explanation:
A. If we take $1 million now the present value of the money is $1 million.
B. If we choose to take $1.2 million paid out over 3 years then present value will at 10% will be;
$300,000 + $300,000 / 1.2 + $300,000/ 1.44 + $300,000 / 1.728
$300,000 + $250,000 + $208,000+ $173,611 = $931,944
The present value of option B is less than present value of option A. We should select option A and take $1 million now.
Walkers World Company gathered the following information for 2019:
Total sales revenue (65% on credit) $432,000
Cost of goods sold 231,000
Sales returns and allowances (on credit) 44,000
Accounts receivable at end of 2019 ($30,000
increase during 2019) 100,000
Allowance for doubtful accounts:
Beginning of 2019 5,000
End of 2019 7,000
Merchandise inventory at end of 2019 ($10,000
decrease during 2019) 28,000
Assume 365 days in the year.
Calculate each of the following ratios.
A. Receivable turnover ratio.
B. Average age of receivables.
C. Inventory turnover ratio.
D. Average number of days' supply in inventory
Answer:
A. Receivable turnover ratio. = 4.57 times
B. Average age of receivables. 94.07 days
C. Inventory turnover ratio. 7 times
D. Average number of days' supply in inventory = 633 days
Explanation:
Net Sales $ 388,000
Sales revenue (65% on credit) $432,000
Less Sales returns and allowances (on credit) 44,000
Average Accounts Receivable = Accounts Rec (beg) Accounts Rec (end)/2
= 70,000+ 100,000/2= $85,000
A. Receivable turnover ratio.
Receivable turnover ratio= Net Sales / Average Accounts Receivable
= 388,000/ 85,000= 4.5647= 4.565= 4.57 times
A high turnover ratio is favorable because the accounts receivable are quickly collected.
B. Average age of receivables.
Average age of receivables= Accounts receivable *365/ Sales
= 100,000* 365/388,000= 365,000,00/388,000= 94.07 days
Accounts receivable will be collected in 94 days.
C. Inventory turnover ratio.
Inventory turnover ratio= Cost Of Goods Sold/ Average Inventory
= 231,000/38,000+ 28,000/2
= 231,000/33,000= 7 times
A company with a high turnover requires a smaller investment in inventory than one producing the same sales with a lower turn over.
D. Average number of days' supply in inventory
Average number of days' supply in inventory= Cost of Goods Sold/ 365
= 231,000 /365= 632.89
More Inventory will be needed in 633 days
Walkers World Company gathered the following information for 2019:
Total sales revenue (65% on credit) $432,000
Cost of goods sold 231,000
Sales returns and allowances (on credit) 44,000
Accounts receivable at end of 2019 ($30,000
increase during 2019) 100,000
Allowance for doubtful accounts:
Beginning of 2019 5,000
End of 2019 7,000
Merchandise inventory at end of 2019 ($10,000
decrease during 2019) 28,000
Assume 365 days in the year.
Calculate each of the following ratios.
A. Receivable turnover ratio.
B. Average age of receivables.
C. Inventory turnover ratio.
D. Average number of days' supply in inventory
You are in charge of a project that has a degree of operating leverage of 1.24. What will happen to the operating cash flows if the number of units you sell increase by 3.8 percent? Group of answer choices 4.71 percent increase 4.71 percent decrease 3.06 percent increase 3.06 percent decrease
Answer:
4.71 percent increase
Explanation:
The increase in the number of units sold is 3.8%
Degree of operating leverage is 1.24
Therefore, the operating cash flow can be calculated as follows:
Increase in the number of units×degree of operating leverage
= 3.8/100×1.24
= 0.038×1.24
= 0.0471×100
= 4.71%
Hence there is a 4.71 percent increase in the operating cash flow
Macro-economiscs college level .
Answer/Explanation:
A. Increase in import WOULD NOT lead to a decrease in national income because it would lead to increase in revenue derived from import duties.
B. A decrease in interest (leakage) WOULD lead to decrease in national income because it will increase borrowing and reduces investment.
C. A decrease in money supply (money available in an economy) WOULD NOT lead to decrease in national income because it reduces inflational rate.
D. An increase in exchange rate WOULD lead to decrease in national income because it would encourage capital flight.
E. A decrease in foreign income WOULD lead to decrease in national income because it reduces revenue earnings.
Pacific Ink had beginning work-in-process inventory of $754,960 on October 1. Of this amount, $309,920 was the cost of direct materials and $445,040 was the cost of conversion.The 53,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs.
During October, 112,000 units were transferred out and 35,000 remained in ending inventory.The units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,687,500 for direct materials and $3,429,900 for conversion.
Required:
(1) Compute the equivalent units for the materials and conversion cost calculations.
(2) Compute the cost per equivalent unit for direct materials and for conversion costs using the FIFO method.
Answer:
a:Weighted Equivalent Units Materials 138,250 Conversion 124,250
b:FIFO Equivalent Cost Per unit Materials $ 21.5 Conversion $ 30.9
Explanation:
Pacific Ink
Weighted Average Equivalent Units
Particulars Units %of Completion Equivalent Units
Mat Conversion Mat. Conversion
Transferred Out 112000 100 100 112000 112000
Add Ending Inv 35000 75 35 26250 12250
Equivalent Units 138,250 124,250
The FIFO method accounts only for the current period costs and units.
Pacific Ink
FIFO Equivalent Units
Particulars Units %of Completion Equivalent Units
Mat Conversion Mat. Conversion
Transferred Out 112000 100 100 112000 112000
Add Ending Inv 35000 75 35 26250 12250
Less
Beg. Inv 53000 25 25 13250 13250
Equivalent Units 125,000 111000
FIFO Costs :
Materials Conversion
Current Costs: $2,687,500 $3,429,900
FIFO Equivalent Units 125,000 111000
Cost per Unit $2,687,500/125000 $3,429,900/111000
Equivalent Cost Per unit $ 21.5 $ 30.9
When the Pacific Ink that is:
The Weighted of the Average Equivalent Units are:Particulars Units %of Completion Equivalent Units
Mat Conversion Mat. Conversion
Transferred Out 112000 100 100 112000 112000
Add Ending Inv 35000 75 35 26250 12250
Equivalent Units 138,250 124,250
When thus, The FIFO method is accounted only for the current period costs and units is: When the Pacific Ink The FIFO Equivalent UnitsParticulars Units %of Completion Equivalent Units
Mat Conversion Mat. Conversion
Transferred Out 112000 100 100 112000 112000
Add Ending Inv 35000 75 35 26250 12250
Then Less
Beg. Inv 53000 25 25 13250 13250
Equivalent Units 125,000 111000
When the FIFO Costs is :
Materials Conversion
Current Costs: $2,687,500 $3,429,900
FIFO Equivalent Units 125,000 111000
Cost per Unit $2,687,500/125000 $3,429,900/111000
Equivalent Cost Per unit $ 21.5 $ 30.9
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Journalize the following transactions using the direct write-off method of accounting for uncollectible receivables: Feb. 20 Received $1,000 from Andrew Warren and wrote off the remainder owed of $4,000 as uncollectible. May 10 Reinstated the account of Andrew Warren and received $4,000 cash in full payment. If an amount box does not require an entry, leave it blank. Feb. 20 May 10 May 10
Answer:
A journal was entered to determine the following transactions using the direct write-off method of accounting for uncollectible receivable shown below
Explanation:
Solution
PART A:
Particulars Debit Credit
Feb 20 Bad Debt Expense $4,000
Cash $1,000
Accounts receivable $5000
May 10 Accounts receivable $4,000
Bad Debt Expense $4,000
Cash $4,000
Accounts receivable $4,000
Assume one of the SWOT findings was an internal weakness of low motivation in the sales force regarding product sales. HP has designed a new compensation system to address this motivation. In which stage of the strategy implementation framework does this action reside?
Answer:
Stage 3
Explanation:
Strategic management is defined as formulation of strategies (decisions, actions, and measures) which are implemented to meet organisational goals and objectives.
Strategy formulation is a very important first step in strategy management. Lack of good strategy formulation can lead to organisational failure.
In the given scenario where motivation among employees is identified as a weakness, the action of modifying the reward system falls under the stage 3 of strategic implementation framework
Strategic implementation is concerned with how formulated strategy is implemented.
James is dreading going to get his UF parking decal because he knows that the lines are usually three hours long. However, when he gets in line, he receives his parking decal in only thirty minutes. Which of the following is James probably experiencing?
A. Dissatisfaction
B. Satisfaction
C. Alternative
D. Evaluation
E. Bounded
F. Rationality
G. Delight
Answer:
Delight
Explanation:
James is dreading going to get his UF parking decal because he knows that the lines are usually three hours long. However, when he gets in line, he receives his parking decal in only thirty minutes. Which of the following is James probably experiencing?
Definitely, he will be experiencing a delight because he was actually expecting to meet a queue which will last for nothing less that 3 hours, but fortunately for him, he got what he went for within the space of time of 30minutes. So, he has been saved of extra 2hours 30minutes of stress due to the long queue. Hence, he will definitely be delighted.
Allyson Gomez invests $8,000 today in an investment that earns 6 percent per year (compounded annually) for 25 years. The average inflation rate is expected to be 1.8 percent per year. She will have much more than $8,000 in 25 years BUT what would this future amount be if expressed in today’s dollars? a. $34,335 b. $21,981 c. $52,306 d. $12,496 e. $21,839
Answer:
B
Explanation:
The first thing to do here is to calculate what the amount of money invested would be in 25 years given the interest rate.
Mathematically, that can be written as;
V = P(1 + r)^n
Where V is the future value
P is the present value which is $8,000
r is interest rate which is 6% (6/100 = 0.06)
n is the number of years which is 25 years
Now plugging these values into the equation, we have
V = 8,000(1 + 0.06)^25
V = 8,000(1.06)^25
V = $34,334.97 which is approximately $34,335
We can now proceed to get what this future value would be today if we take the inflation rate into consideration
Mathematically, this can work as follows
P = V(1 + i)^n
Where P is the present value of the money when the inflation is taken into consideration
V is the future value of the money which was calculated from above as $34,335
i is the inflation rate which is 1.8% per annum = (1.8/100 = 0.018)
n is the number of years which is 25
Substituting these values, we have;
P = 34,335/(1 + 0.018)^25
P = 34,335/(1.018)^25
P = 21,980.75
Which is approximately P = $21,981
Describe other options teachers and their union have in resolving the impasse before opting for a strike? For each point illustrate your discussion with examples from Pacific island countries (PICs)
Answer: The other options include; dialogue; notification; peaceful protest and ultimatum.
Explanation: 1) Dialogue: Dialogue refers to a discussion between the two opposing parties. The teachers or their union may opt for a round table discussion to negotiate on the issue and its possible resolution.
2) Peaceful protest: A protest is an expression of strong opposition or disapproval of something. This is an option that can be exercised in a peaceful way by demonstration the grievance.
3) Notification or Ultimatum: Notification involves an information on when an option either expires or is to be exercised while an ultimatum is a demand that can be followed up with penalty or threat. This is also an option used by Pacific Island Countries in resolving the impasse before resulting to strike.
Kat Outfitting currently has $22,500 in cash. The company owes $49,500 to suppliers for merchandise and $52,500 to the bank for a long-term loan. Customers owe the company $41,000 for their purchases. The inventory has a book value of $76,800 and an estimated market value of $72,000. If the store compiled a balance sheet as of today, what would be the book value of the current assets?
Answer:
The book value of the current assets is $140,300
Explanation:
Cash = $22,500
Amount owed by company = $49,500
Amount Owed by Customers = $41,000
Book Value of Inventory = $76,800
Estimated market value = $72,000
Book Value of Current Assets = Cash + Amount Owed by Customers + Book Value of Inventory
Book Value of Current Assets = $22,500 + $41,000 + $76,800
Book Value of Current Assets = $140,300
Wells, Inc., has identified an investment project with the following cash flows. Year Cash Flow 1 $ 1,000 2 1,230 3 1,450 4 2,190 a. If the discount rate is 9 percent, what is the future value of these cash flows in Year 4
Answer:
Total= $7,114.32
Explanation:
Giving the following information:
Cash Flow:
1 $ 1,000
2 1,230
3 1,450
4 2,190
Discount rate= 9%
To calculate the future value, we need to use the following formula on each cash flow:
FV= PV*(1+i)^n
Cf1= 1,000*1.09^4= 1,411.58
Cf2= 1,230*1.09^3= 1,592.89
Cf3= 1,450*1.09^2= 1,722.75
Cf4= 2,190*1.09= 2,387.1
Total= $7,114.32
Global market channels involve a firm producing goods in:______
A. Their home country and exporting them to other countries.
B. Their home country to sell at home.
C. A foreign country to sell at home.
D. A foreign country to sell abroad.
Answer:
A. Their home country and exporting them to other countries.
Explanation:
A global market channel generally explains the production of commodities by a certain or group of firms and goods by a home country and exporting them to other countries. This is seen generally in the production of phones, laptops, tv brands refrigerators and a whole lot of products amongst tier 1 or tier 2 countries and are been shipped to lowest their countries and other tier countries. This is seen to boost the economy and international trade friendship of either countries though the country at the recieving end is loosing per capital but at the end, we need each other to grow and live.
As discussed in the case and the text, W. L. Gore and Zappos adopted new organizational structures during periods of growth. In general, most firms follow a predictable pattern of structural change. Which of the following best exemplifies this pattern?
a. Simple to functional to multidivisional structures
b. Ambidextrous to functional to matrix structures
c. Functional to simple to matrix structures
d. Global to functional to multidivisional structures
e. Simple to matrix to functional structures
Answer: a. Simple to functional to multidivisional structures
Explanation:
An Organisational structure refers to how tasks flow in a company to enable them to achieve their goals.
As a company grows, they tend to go through different types of structures which fit their size and enable them to reach their goals better.
They generally start with the Simple Structure which is very common in smaller businesses. Here most decisions are centred on the owner. The owner as the proprietor is in charge of coming up with basically everything to push the business forward.
As the company grows they switch to a Functional Structure. This is when the company will be structured by function to enable better specialization and divisions of labour. Examples of separation by function include, IT Department, Marketing Department, Production Department etc.
If the growth continues the company finds it best to specialize even more and this is when Multidivisional Structures kick in. In a Multidivisonal Structure, the company divides itself into different divisions while maintaining a parent company. The Divisions are fairly independent and pursue different goals and products but all under the direction of the parent company. An example is Google splitting into divisions with Alphabet Inc being the Parent Company and Divisions such as Google, Calico, Deepmind and Waymo being created.
This year Barney purchased 500 shares of Bell common stock for $20 per share. At year-end the Bell shares were only worth $2 per share. What amount can Barney deduct as a loss this year
Answer:
Barney is not entitled to a loss deduction.
Explanation:
Barney is not qualified for a loss deduction. Barney cannot have any realization because the stock has not been sold or become worthless. If Barney's stock becomes worthless then generally he may deduct its tax basis in the stock as a worthless stock loss for the year in which the stock becomes worthless.
Pell Company acquires 80% of Demers Company for $500,000 on January 1, 2010. Demers reported common stock of $300,000 and retained earnings of $210,000 on that date. Equipment was undervalued by $30,000 and buildings were undervalued by $40,000, each having a 10-year remaining life. Any excess consideration transferred over fair value was attributed to goodwill with an indefinite life. Based on an annual review, goodwill has not been impaired. Demers earns income and pays dividends as follows: Assume the equity method is applied. 8. Compute Pell's income from Demers for the year ended December 31, 2010. A. $74,400. B. $73,000. C. $42,400. D. $41,000. E. $80,000.
Answer:
$74,400
Explanation:
Pell Company
Pell's income from Demers for the year ended December 31, 2010
Controlling Interest Share of Net Income for 2010- Excess Fair value Annual Amortization
Controlling Interest Share of Net Income for 2010= ($100,000 × .80) $80,000
Less Excess Fair Value Annual Amortization =($7,000 × .80) $5,600
Pell Income= $74,400
Cat's product manager continues to perform well in the market. However, a competing product is coming on strong and is looking to take over as the market share leader in the segment. Without sacrificing contribution margin, what can the Cat product manager do in order to improve upon the buying criteria, and thus potentially increase demand
Answer:
Increase promotion spending
Explanation:
Note that the challenge for the product is to get a demand that supersedes that of their competitor. Thus, by spending more on promotion they could still maintain the contribution margin while at the same time increase consumers demand the product.
For example, by adding extra gift items to their products consumers would likely feel motivated to buy the product over the other.
8. Kidder Corporation hired Louis as a stockbroker. The employment contract provided that all disputes between the parties would be decided by arbitration. The employment agreement was a standardized form prepared by the corporation. Does Louis have a valid challenge to the legality of the contract
Answer:
idk
Explanation:
Bramble Corp. is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6300000 on March 1, $5270000 on June 1, and $8950000 on December 31. Bramble Corp. borrowed $3180000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6380000 note payable and an 11%, 4-year, $12550000 note payable. What amount of interest should be charged to expense? $7850132 $1088532 $2010500 $1470132
Answer:
$1,470,132
Explanation:
Expenditures:
March 1, $6,300,000
June 1, $5,270,000
December 31, $8,950,000
the weighted average interest rate:
$6,380,000 x 10% = $638,000
$12,550,000 x 11% = $1,380,500
total debt = $18,930,000
total interest = $2,018,500
weighted average interest rate = $2,018,500 / $18,930,000 = 10.663%
weighted average accumulated expenditures:
March 1, $6,300,000 x 10/12 = $5,250,000
June 1, $5,270,000 x 7/12 = $3,074,167
December 31, $8,950,000 x 0/12 = $0
total = $8,324,167
interests on the specific loan = $3,180,000 x 12% = $381,600
interests on remaining expenditures = ($8,324,167 - $3,180,000) x 10.663% = $548,520
total interest capitalized = $930,120
total interest expensed = total interests on other loans - interests capitalized on remaining expenditures = $2,018,500 - $548,520 = $1,469,980 ≈ $1,470,132 which we can match to the nearest option due since during the procedure we rounded a couple of times.
Imagine that you work in a call center. Your manager tells you that you need to answer 25% more calls per hour. In order to do this, you must spend less time with each caller, and your caller satisfaction scores are going down. By answering more phone calls but providing worse service, you ARE being __________ but NOT ___________.
Answer:
By answering more phone calls but providing worse service, you ARE being EFFICIENT but NOT SATISFY CUSTOMERS' NEEDS.
Explanation:
A worker's efficiency is measured by the total output per hour of labor. In this case, since you are answering more calls per hour, your efficiency is increasing (higher output per hour).
The quality of the service provided by a worker's is measured by the quality of their output (or performance), and if you satisfy your customers' needs. Since the service that you are providing is not that good, then your quality levels are decreasing.
You may be producing more services, but the services produced lack good quality.
A business will construct its financial statements in a particular order because they are interrelated. This means that items formulated in an earlier statement feed into the subsequent statements, and changes to items on one financial statement can have compounding effects on the overall financial position of a company. Which of the following is one reason the statement of owner's equity is prepared after the income statement?
a. Retained earnings are computed on the income statement.
b. Net income is the beginning retained earnings amount.
c. Retained earnings is really an asset.
d. Net income is part of the computation for ending retained earnings.
Answer: d. Net income is part of the computation for ending retained earnings.
Explanation:
In the statement of owner's equity, Retained earnings are calculated and it is done with the Net Income. This is why when the net income is calculated from the Income Statement it is transfered to the SOE and used to calculate Retained Earnings.
Retained Earnings are calculated by the formula,
Ending Retained = Opening Retained Earnings + Net Income (losses) - Dividends
Net income is added to (or subtracted from if it is a Net loss) the Opening Retained earnings balance. Net dividends are also subtracted.
Public television periodically runs pledge drives to raise money. Only a small percentage of the people who benefit from public television are willing to pay. This low percentage of people willing to contribute illustrates a difficulty with:____________.
Answer
voluntary programs
Explanation:
voluntary programs or activities that are usually individual or people voluntarily participate in and they are not paid for it. sometimes, voluntary programs are made for profit and sometimes not for profit.
pledge drive is a vivid example of a voluntary program. sometimes, only some few public television are able to get donations to run their day to day program/activities. most times, the subscription will be an addition to others and also large source of revenue. most times the incentives to join and dangers of shirking is a problem affecting voluntary program
Process Costing using First-in-First Out (FIFO) Crone Corporation uses the FIFO method in its processing costing system. The following data concern the company's Assembly Department for the month of October.
Cost in beginning work in process inventory $1,920
Units started and completed this month 3,130
Materials Conversion:
Cost per equivalent unit $9.50 $20.40
Equivalent units required to complete the units in
beginning work in process inventory 360 140
Equivalent units in ending work in process inventory 330 264
Required:
a. Determine the cost of ending work in process inventory
b. Determine the cost of units transferred out of the department during October.
Answer:
Cost of ending inventory= $8,520.6
Total cost of units transferred out=$99,863
Explanation:
Cost of ending inventory
Cost of items of inventory = cost per equivalent unit × No of units
Cost of items of inventory = ($9.50×330) + ($20.40 × 264)= $8,520.6
Total cost of units transferred out
The FIFO method of valuation of working in progress separates the units transferred out into opening inventory and fully worked.
The fully worked represents the units of inventory started and completed in the sames period.
The cost of units transferred out is the sum of h opening inventory and he fully worked. This done below:
Opening inventory = ($9.50 × 360) + ($20.40×140)= 6276
Transferred of fully worked = $(9.50 +$20.40) × 3,130= 93,587
Total cost of units transferred out = (6276 +93587)= $99,863
The December 31, 2018, balance sheet of Whelan, Inc., showed $154,000 in the common stock account and $2,790,000 in the additional paid-in surplus account. The December 31, 2019, balance sheet showed $164,000 and $3,090,000 in the same two accounts, respectively. The company paid out $159,000 in cash dividends during 2019 14.28 points What was the cash flow to stockholders for the year? (A negative answer should be indicated by a minus sign.
Answer:
Whelan, Inc.
The cash flow to stockholders for the year is $159,000, representing the cash dividends paid during 2019.
Explanation:
Cash flow to stockholders is the amount of cash that a company pays out to its shareholders, usually in the form of cash dividends. Mainly, cash flows to stockholders in two major ways: dividends and stock price increases when shares are sold. Dividends are cash flows to stockholders from the company. These are usually determined by the board of directors. Stock price increases are cash flows to stockholders from the stock exchange market. They are determined by the company's performance and the sentiments of the investors in an open market with reference to the company's financial performance and position.
Which of the following BEST represents a mission statement? A. Our goal is to honor and empower wounded warriors. B. We strive to be the worldwide leader in sharing delicious tastes and creating joyful memories. C. We envision a world in which all people dash even in the most remote areas of the globe dash hold the power to create opportunities for themselves and others. D. We strive to design, build, and sell the world's best vehicles. E. We strive to be a highly productive and deeply humane company.
Answer:
B. We strive to be the worldwide leader in sharing delicious tastes and creating joyful memories
Explanation:
There are two concepts i.e mission and vision. The mission statement is the statement in which it talks about the company goals and objective that represent the present condition of which market should be targeted, its geographical location, etc
While on the other hand the vision statement refers to position of the company in the future. It is always for the long term as it is always thinking for the future where the company what to be.
Based on the above explanation, the option B is correct as it depicts the mission statement.
Which of the following are examples of hidden unemployment? Select the two correct answers below. Select all that apply: John is 15 years old and even though he wants to find summer job, he can't. Lisa cannot find the job she wants so she has stopped looking. Penny has a college degree in nursing, but currently has to work as a store clerk as it is the only available job in her small town. Rita is working in the job of her dreams.
Answer:
Lisa cannot find the job she wants so she has stopped looking. Penny has a college degree in nursing, but currently has to work as a store clerk as it is the only available job in her small town.Explanation:
Hidden Unemployment also known as Disguised Unemployment in simple terms refers to the following people; people who are not working and have given up on looking for work because they could not find any, people who have the skillset and determination to work full-time working only part time and people who are underemployed meaning that they are working a job that they are overqualified for.
Hidden Unemployment is considered hidden as it is not reflected in employment statistics.
Lisa could not find a job so she stopped looking. This is Hidden Unemployment and official figures will not even count her as unemployed because you need to be actively looking for work to be classified unemployed.
Penny is overqualified for the store clerk position she holds or rather she is qualified for a different profession. Employment statistics will however show her as employed.
