Answer:
B. Place the order now.
Explanation:
Why wait until the exchange rate changes? When is that going to be? The best reaction would be to place the order when it is needed and not to speculate on the exchange rate. Waiting until the exchange rate changes against Japan makes the prices of goods and services cheaper for foreign purchasers. But, the wait could be endless.
Whether to pay a lawmaker for giving a speech at your company is an ethical
dilemma that deals with
O A. lobbying
B. awarding honoraria
c. professional standards
D. gift giving
Answer: D
Explanation:
Answer:
D. gift giving
Explanation:
Dolan Company's accounting records reflect the following inventories:
Dec. 31, 2020
Dec. 31, 2019
Raw materials inventory
$310,000
$260,000
Work in process inventory
300,000
160,000
Finished goods inventory
190,000
150,000
During 2020, $800,000 of raw materials were purchased, direct labor costs amounted to $670,000, and manufacturing overhead incurred was $640,000.
Dolan Company's total manufacturing costs incurred in 2020 amounted to
2. Management by exception
A. means that only unfavorable differences will be investigated.
B. means that material differences will be investigated.
C. means that all differences will be investigated.
D. causes managers to be buried under voluminous paperwork.
Answer and Explanation:
The computation of the total manufacturing cost is shown below:
As we know that
Total manufacturing cost is
= Direct raw material used + direct labor cost + manufacturing overhead cost
= ($260,000 + $800,000 - $310,000) + $670,000 + $640,000
= $2,060,000
2. The management of exception means examining the financial and operational business results and considered the issues that faced by the company by having attention on it. ALso it considered teh differences arise from the expected amount
So here means that non-favorable difference would be investigated or material difference would be investigated
Inattentive Driving. While cutting class and driving off campus to check on her new dress for the upcoming formal, Molly, a busy college student, is busy talking on her cell phone with her friend Sharon. Molly is trying to talk Sharon into going to the dance with her brother, who has a big crush on Sharon. Unfortunately for Molly, there is a statute in her state outlawing talking on a cell phone while operating a motor vehicle. Molly crashes into the side of Sam's new convertible when she looks down to pick up a can of soda she just dropped onto her new jeans. A police officer just down the street comes over to investigate. Molly explains to him that it was difficult to hold the cell phone in one hand, the soda in the other, and also drive. The officer was not impressed. Around that time Sam comes along. He is furious regarding the significant dent in his new car. Molly says she has insurance and that she will cover the whole incident. Sam says that is insufficient. The officer is annoyed because it is his lunch break. He tells Molly that she must obey the law and proceeds to write several citations to her. Which of the following is true regarding Molly's predicament?
A. Public law only.
B. Private law only.
C. Public law, private law, civil law, and criminal law.
D. Criminal law and public law only.
E. Civil law and private law only.
Answer:
C.
Explanation:
Under civil law, Molly has caused damages to sam's car and she has to be held liable for this.
She has also violated criminal law as her action is against the public as a unit. She violated this by driving and endangering the lives of people by talking on phone while driving.
She has also violated public alw as criminal law is one of the types of public law.
She is in violation of private law by causing damages to sam's car. Private law has to do with the relationship existing between people, one of such example is the law of property.
The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer.
Month Occupancy-Days Electrical Costs
January 1,736 $4,127
February 1,904 $4,207
March 2,356 $5,083
April 960 $2,857
May 360 $1,871
June 744 $2,696
July 2,108 $4,670
August 2,406 $5,148
September 840 $2,691
October 124 $1,588
November 720 $2,454
December 1,364 $3,529
Required:
a. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day.
b. What other factors other than occupancy-days are likely to affect the variation in electrical costs from month to month?
Answer:
Total cost= 1,395 + 1.56x
x= number of units of activity
Explanation:
To calculate the unitary and fixed costs, we need to use the following formulas:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (5,148 - 1,588) / (2,406 - 124)
Variable cost per unit= $1.56
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 5,148 - (1.56*2,406)
Fixed costs= $1,395
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 1,588 - (1.56*124)
Fixed costs= $1,395
The total cost is given by:
Total cost= 1,395 + 1.56x
x= number of units of activity
The electrical costs can vary with the season. In summer a higher electricity use is required to cool down the rooms and, some artifacts such as freezers and refrigerators usage increase. In winter the days are shorter, artificial lighting increases.
The original purpose of counties was to?
Answer:
The original purpose of the counties was to establish an intermediate governmental structure between that of the cities and that of the states, bringing together several cities in a single entity, the County, which would centralize basic services such as courts, hospitals, universities, etc. and it would represent these cities before the State in a more forceful way than if each city did so on its own initiative.
"On January 1, 2019, the general ledger of Global Corporation included supplies of $1,000. During 2019, supplies purchased amounted to $5,000. A physical count of inventory on hand at December 31, 2019 determined that the amount of supplies on hand was $1,200. How much is the supplies expense for year 2019?"
Answer:
yes on 2020
Explanation:
aph development continues with an expression of the rationale or the explanation that the writer gives for how the reader should interpret the inform
On 2020 Aph development continues with an expression of the rationale or the explanation that the writer gives for how the reader should interpret the inform.
What is development?A subfield of economics called "development economics" is concerned with enhancing the fiscal, economic, and social situations in underdeveloped nations.
With an emphasis on enhancing conditions in the world's poorest nations, development economics takes into account elements including health, education, working conditions, local and international policy, and market conditions.
The area also looks at macroeconomic and microeconomic aspects of developing economies' structures, as well as domestic and global economic growth.
Because every country has a unique set of cultural, social, and economic institutions, the application of development economics is intricate and varied.
Mercantilism, nationalism, the linear stages of growth model, and structural-change theory are four popular theories of development economics.
Determining whether rapid population increase aids or hinders development, changing the way economies are structured, and the importance of education and healthcare are some components of development economics.
Learn more about development, here
https://brainly.com/question/28011228
#SPJ6
Which of the following financial statements are required for a Debt Service Fund? Multiple Choice Statement of revenues, expenditures, and changes in fund balances only. Balance sheet and statement of revenues, expenditures, and changes in fund balance only. Balance sheet; statement of revenues, expenditures, and changes in fund balance; and statement of cash flows. Statement of net position only.
Answer:
Balance sheet; statement of revenues, expenditures, and changes in fund balance.
Explanation:
Under the Codification of Governmental Accounting and Financial Reporting Standards by the Governmental Accounting Standards Board (GASB); Code 200 states that debt service funds are to be used to service terms and bond reserves, guaranty, warrants, note, capital leases, or sinking funds.
Debt service funds is a cash reserve which is used to report account and pay for the interest and principal payment on financial resources that are restricted, committed or assigned to expenditure except debt of proprietary and fiduciary funds who account for their own interest and principle payments.
The purpose of using a debt service fund is to reduce the risk of a debt security for investors, thereby making it more attractive and appealing to them. Also, the debt service fund helps to mitigate the effective interest rate needed by the government to sell the offering.
The following financial statements are required for a Debt Service Fund;
I. Balance sheet.
II. Statement of revenues.
III. Expenditures.
IV. Changes in fund balance.
Suman said that, "she didn't understand the
direct and indirect speech
Explanation:
Indirect speech, also known as reported speech or indirect discourse (US), is a means of expressing the content of statements, questions or other utterances, without quoting them explicitly as is done in direct speech. For example, He said "I'm coming" is direct speech, whereas He said (that) he was coming is indirect speech. Indirect speech should not be confused with indirect speech acts.
JDI, Inc. is trying to decide whether ro make-or-buy a part (#J-45FPT). Purchasing the part would cost them $1.50 each. If they design and produce it themselves, it will result in a per unit cost of $0.75. However, the design investment would be $50,000. Further, they realize that for this type of part, there is a 30% chance that the part will need to be redesigned at an additional cost of $50,000. Regardless of whether they make-or-buy the part, JDI will need 100,000 of these parts. Using decision trees analysis and EMV, what should JDI do? Show the decision tree.
Answer:
JDI should buy the part
Explanation:
The decision tree is shown in the file attached below.
From the information given:
Provided that the expected values denote the costs; JDI is expected to select the lowest expected value and make the part.
JDI expected monetary cost = $140000
Its buy decision = $150000
Kevin Jones, of Elon, North Carolina, is single and recently graduated from law school. He is employed and earns $9,000 per month, an awesome salary for someone only 26 years old. He also has $1,600 withheld for federal income tax, $520 for state income taxes, $690 for Medicare and Social Security taxes, and $220 for health insurance every month. Kevin has outstanding student loans of almost $80,000 on which he pays about $950 per month and a 0% loan on an auto loan payment of $300 on a Ford Fusion Hybrid he purchased new during law school. He is considering taking out a loan to buy a Kawasaki motorcycle.
Required:
a. What is kevins debt payments to disposable income ratio?
b. Based on your answer to part (a), how would you advise kevin about his plan.
Answer:
Kevin Jones
a. Kevin's debt payments to disposable income ratio = 21%
b. The first question that Kevin should ask himself is whether he actually requires the Kawasaki motorcycle and for what purpose. Since he is already paying for a new auto that he purchased during law school, Kevin should try to limit his expenses to enable him save money for retirement. He has enough debts now. He should consider paying off his loans or rather investing some reasonable savings. The earlier he does, the better for him.
Explanation:
a) Data and Calculations:
Monthly salary = $9,000
Monthly Deductions:
Federal income tax withheld = $1,600
State income taxes = 520
Medicare & Social Security taxes = 690
Health insurance = 220
Total deductions = $3,030
Monthly Disposable income = $5,970 ($9,000 - $3,030)
Debt payments:
Outstanding student loans = $80,000
Monthly repayment of student loans = $950
Auto loan = $300
Total monthly debt payments = $1,250
Debt payments to Disposable income ratio = $1,250/$5,970 = 0.209
= 21%
Vinny and Sandra have just had their first baby, and need to make a decision about how to handle work and child‑care responsibilities. Vinny earns $1000 per week working full time, and Sandra's full‑time salary is $1200 per week. They each can work part time and earn half their full‑time wage. Calculate the change in GDP for each situation, relative to when they both worked full time and had no child‑care responsibilities. If GDP falls, include a negative sign in your answer. a. Both Vinny and Sandra return to work full time and pay a child‑care provider $600 per week to care for their child. $ b. Both Vinny and Sandra will return to work full time, while Sandra’s mother takes care of their child without financial compensation. $ c. Both Vinny and Sandra will return to work full time, while Vinny's brother takes care of their baby. They'll pay him $600 a week to care for their child, but neither they nor Vinny’s brother will report those payments to the IRS, or on any government surveys. $ d. Vinny and Sandra will each return to work part time, and split child‑care responsibilities. $ e. Vinny will stay home to care for the baby, while Sandra returns to work full time. $
Answer:
A. 600
B. 0
C. 0
D. -1100
E. -1000
Explanation:
For part A you are asked to find the change in GDP with the addition of paying a babysitter $600. The GDP beforehand was the total income from both Vinny and Sandra which is $1200 + $1000 = $2200. For these questions, you are being asked to find a change in GDP which would simply be the addition of $600. Similiary, for part B there is no change in GDP because they do not pay Sandra's mother, so the change in GDP is 0. For part C, since the payments are not reported, there is no change in GDP. Part C can be thought of as a reference to the shadow market and GDP from the shadow market is not recorded. Part D has a negative 1100 because they each go back to work part-time, Vinnie earning $500 per week and Sandra earning $600. The change in GDP would be negative because they are losing 1100 in order to care for a new child. For part E, Vinnie gives up all his income which would normally amount to $1000 per week. The change in GDP is therefore negative.
The change in GDP for each situation will be:
(a) 600(b) 0(c) 0(d) -1100(e) -1000According to the question,
Whenever both work full time and had no child care then the b will be:
= [tex]1000+1200[/tex]
= [tex]2200[/tex]
(a)
New GDP,
= [tex]1000+1200+600[/tex]
= [tex]2800[/tex]
Change will be:
= [tex]2800-2200[/tex]
= [tex]600[/tex]
(b)
→ When mother doing child care isn't part of GDP then,
New GDP,
= [tex]1000+1200[/tex]
= [tex]2200[/tex]
Change will be:
= [tex]2200-2200[/tex]
= [tex]0[/tex]
(c)
→ Private non-reported transaction isn't a part of GDP then
New GDP,
= [tex]1000+1200[/tex]
= [tex]2200[/tex]
Change will be:
= [tex]2200-2200[/tex]
= [tex]0[/tex]
(d)
→ Working part time so will earn half of wages then,
New GDP,
= [tex]500+600[/tex]
= [tex]1100[/tex]
Change in GDP,
= [tex]1100-2200[/tex]
= [tex]-1100[/tex]
(e)
Only Sandra works then,
New GDP,
= [tex]1200[/tex]
Change in GDP,
= [tex]1200-2200[/tex]
= [tex]-1000[/tex]
Thus the above answers are correct.
Learn more about change in GDP here:
https://brainly.com/question/19131753
Mercedes-Benz runs a TV commercial advertisement that displays one of its top-of-the-line cars. As the driver pulls up to a valet, people turn their heads and stare at the car. Mercedes-Benz has effectively leveraged which need in Maslow’s hierarchy?
Answer:
esteem
Explanation:
esteem
Which type of marketing intermediary are sales representatives of manufacturers and wholesalers?
A. Industrial distributors
B. Service providers
C. Agents
D. Brokers
Answer:
C. Agents
Explanation:
They are sales representatives for manufacturers or wholesalers and usually are hired on a commission basis.
1. Write a hierarchical list of Excel components by size, starting with cells as the smallest
component and workbooks as the largest component.
Answer:
Hierarchical List of Excel Components:
1. Cells
2. Navigation buttons
3. Sheet tabs
4. Formula bar
5. Name box
6. Row Headings
7. Column Headings
8. Toolbar
9. Menu bar
10. Title bar
11. Worksheet
12. Workbook
Explanation:
Microsoft Excel, which is traditionally the workbook of accounting, consists of worksheets (standard three, but you can add more, as required). Each worksheet contains 256 columns and 65,536 rows. The cell is the intersection of columns and rows, where texts and numbers are input. Each cell is named after the combination of its column letter and the row number.
Scholars have noted each of the following elements that explain the importance of conferences EXCEPT:
a. The conference is the crucial unit in shaping and regulating intercollegiate athletics because it can have more impact on shaping athletic policies than the NCAA does.
b. Conferences demand that schools and their leaders pay more attention to conference issues than to those of national governing bodies like the NCAA.
c. The conference is the locus where a small group of institutions in voluntary association agree to work together, to compete while showing some sign of mutual respect and comparable academic standards.
d. Conferences allow schools with similar concerns to form leagues with rules that operationalize their common philosophy and put their athletes and coaches in social circumstances where they will be dealing with people and similar expectations and constraints.
Answer:
b.
Explanation:
Conferences demand that schools and their leaders pay more attention to conference issues than to those of national governing bodies like the NCAA. Issues need to be chosen by its importance to the vast majority. If the issue that is affecting the vast majority of the population revolves around external factors such as those of a national governing body then those are the issues that the conference should revolve around. The conference needs to adapt to what is most important always.
At the beginning of 2019, Donna Company had $1,000 of supplies on hand and this amount was properly recorded as a debit in a Supplies (asset) account. During 2019, the company purchased supplies amounting to $6,200 (paid for in cash and debited to the supplies account). At December 31, 2019, a count of supplies revealed that $1,600 of supplies were on hand. The adjusting entry that Donna Company made on December 31, 2019 to adjust the Supplies account would include
Answer:
Credit to Supplies for $5,200
Explanation:
Based on the information given if At the beginning of 2019 the Company had the amount of $1,000 of supplies on hand in which the amount was recorded properly as a debit in a Supplies account, which means that i During 2019, the company purchased supplies amounting to the amount of $6,200 The adjusting journal entry that Donna Company would record at the end of the current year to adjust the Supplies account would include a:
Credit to Supplies for $5,200.
($6,200-$1,000)
what is the main difference between regular work hours and overtime
Answer:
regular work hour- employee are expected to on the basis of their employment contract.
overtime- hours worked exceed normally scheduled working hours.
If the price of output increases, the marginal revenue product curve will shift ________ and the profit maximizing quantity of labor demanded will ________. Group of answer choices up; decrease down; decrease down; increase up; increase
Answer:
Increase marginal revenue
If the price of output increases, the marginal revenue product curve will shift up and the profit maximizing quantity of labor demanded will decrease. Thus, option (a) is correct.
What is product?The thing being sold is called a “product.” A product and service market foundation. Items are divided into two categories: industrial products and consumer products. The product is to fulfill the needs of the consumer. There was the based on the commonly are the rules in the government to follow the product management.
When the quantities of other variables utilized fluctuate, the marginal revenue product of labor changes. It will also fluctuate as a result of changes in technology, the price of the product being produced, or the number of enterprises hiring workers. The product curve will trend upward, while the quality will fall.
As a result, the price of output increases, the marginal revenue product curve will shift up and the profit maximizing quantity of labor demanded will decrease. Therefore, option (a) is correct.
Learn more about on product, here:
https://brainly.com/question/22852400
#SPJ5
Imagine that your country takes in $100 million each year in tax money but chooses to spend $500 million on various services it provides. What type of stance does your country take on fiscal policy?
A.) expansionary stance
B.) contractionary stance
C.) economic stance
D.) neutral stance brainly
The partnership of Keenan and Kludlow paid the following wages during this year:
M. Keenan (partner) $85,000
S. Kludlow (partner) 75,000
N. Perry (supervisor) 53,000
T. Lee (factory worker) 34,600
R. Rolf (factory worker) 29,800
D. Broch (factory worker) 6,900 S.
Ruiz (bookkeeper) 25,400
C. Rudolph (maintenance) 5,100
In addition, the partnership owed $200 to Rudolph for work he performed during December. However, payment for this work will not be made until January of the following year. The state unemployment tax rate for the company is 2.95% on the first $9,000 of each employee's earnings. Compute the following:
a. Net FUTA tax for the partnership for this year.
b. SUTA tax for this year.
Answer:
a. The Net FUTA tax for the partnership for this year is $1,680.
b. The SUTA tax for this year is $1,062.
Explanation:
a) Data and Calculations:
M. Keenan (partner) $85,000
S. Kludlow (partner) 75,000
N. Perry (supervisor) 53,000
T. Lee (factory worker) 34,600
R. Rolf (factory worker) 29,800
D. Broch (factory worker) 6,900
Ruiz (bookkeeper) 25,400
C. Rudolph (maintenance) 5,100
Gross payroll = $314,800
FUTA rate is 6% for the first $7,000
Gross Pay FUTA SUTA
(first $7,000) (first $9,000)
N. Perry (supervisor) 53,000 $420 $265.50
T. Lee (factory worker) 34,600 420 265.50
R. Rolf (factory worker) 29,800 420 265.50
D. Broch (factory worker) 6,900 0 0
Ruiz (bookkeeper) 25,400 420 265.50
C. Rudolph (maintenance) 5,100 0 0
Payroll for employees = $154,800 $1,680 $1,062
b) The FUTA tax rate is 6.0%. The tax applies to the first $7,000 that Keenan and Kludlow paid to each employee as wages during the year. This first $7,000 is often referred to as the federal or FUTA wage base. The state's SUTA tax rate depends on each state where SUTA is collected. Note that the additional $200 owed to Rudolph does not alter his base wages which fall below $7,000.
The common stock of Eddie's Engines, Inc. sells for $18 a share. The stock is expected to pay $1.58 per share next month when the annual dividend is distributed. Eddie's has established a pattern of increasing their dividends by 2.8% annually and expects to continue doing so. What is the market rate of return on this stock
Answer:
11.6%
Explanation:
Calculation for What is the market rate of return on this stock
Using this formula
Rate of return=D/P + g
Where,
D=1.58 per share
P=$18
g=.028
Let plug in the formula
Rate of return=1.58/$18+.028
Rate of return =0.088+.028
Rate of return=0.116*100
Rate of return=11.6%
Therefore the market rate of return on this stock will be 11.6%
Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method.
Data for July:
Work-in-process inventory, July 1 (40,000 units):
Direct materials (92% completed) $122,800
Conversion (58% completed) 77,250
Balance in work in process inventory, July 1 $200,050
Units started during July 94,000
Units completed and transferred 109,600
Work-in-process inventory, July 31:
Direct materials (92% completed) 24,400
Conversion (58% completed) Cost incurred during July:
Direct materials $184,000
Conversion costs 292,000
Required:
a. Cost per equivalent unit for materials under the weighted-average method is calculated to be:______
b. Cost per equivalent unit for conversion under the FIFO method is calculated to be:_______
Answer:
a. $2.32
b. $2.92
Explanation:
Part a
Equivalent Units
Completed and Transferred 109,600 x 100% 109,600
Ending Work In Process 24,400 x 92% 22,448
Equivalent Units with respect to Materials 132,048
Total Materials Cost
Materials cost Beginning Work in Process $122,800
Add Material Cost incurred during the year $184,000
Total Material Costs $306,800
Cost per equivalent unit = Total Materials Cost ÷ Equivalent Units
= $306,800 ÷ 132,048
= $2.32
Part b
Equivalent Units
To finish OWIP 40,000 x 42% 16,800
Started and Completed (109,000 - 40,000) x 100 69,000
Closing Work in Progress 24,400 x 58% 14,152
Equivalent units with respect to conversion cost 99,952
Total Conversion Cost
Conversion Cost incurred during the year $292,000
Total Material Costs
Cost per equivalent unit = Total Conversion Cost ÷ Equivalent Units
= $292,000 ÷ 99,952
= $2.92
Shauna and Danielle decided to liquidate their jointly owned corporation, Woodward Fashions Inc. (WFI). After liquidating its remaining inventory and paying off its remaining liabilities, WFI had the following tax accounting balance sheet:
FMV Adjusted Basis Appreciation
Cash $ 200,000 $ 200,000
Building 50,000 10,000 40,000
Land 150,000 90,000 60,000
Total $ 400,000 $ 300,000 $ 100,000
Under the terms of the agreement, Shauna will receive the $200,000 cash in exchange for her 50 percent interest in WFI. Shauna's tax basis in her WFI stock is $50,000. Danielle will receive the building and land in exchange for her 50 percent interest in WFI. Danielle's tax basis in her WFI stock is $100,000. Assume for purposes of this problem that the cash available to distribute to the shareholders has been reduced by any tax paid by the corporation on gain recognized as a result of the liquidation. (Leave no answer blank. Enter zero if applicable. Negative amounts should be indicated by a minus sign.)
10.
value:
1.00 points
Required information
a. What amount of gain or loss does WFI recognize in the complete liquidation?
References
eBook & Resources
ProblemDifficulty: 2 MediumLearning Objective: 19-05 Calculate the tax consequences that apply to the parties to a complete liquidation of a corporation.
Check my work
11.
value:
1.00 points
Required information
b. What amount of gain or loss does Shauna recognize in the complete liquidation?
References
eBook & Resources
ProblemDifficulty: 2 MediumLearning Objective: 19-05 Calculate the tax consequences that apply to the parties to a complete liquidation of a corporation.
Check my work
12.
value:
1.00 points
Required information
c. What amount of gain or loss does Danielle recognize in the complete liquidation?
References
eBook & Resources
ProblemDifficulty: 2 MediumLearning Objective: 19-05 Calculate the tax consequences that apply to the parties to a complete liquidation of a corporation.
Check my work
13.
value:
1.00 points
Required information
d. What is Danielle’s tax basis in the building and land after the complete liquidation?
Answer:
1. Based on the information given WFI transaction is a taxable transaction which include a recognizes gain of the amount of $40,000 on the transfer of the building as.well as gain of the amount of $60,000 on the transfer of the land.
2. Shauna will recognizes gain of the amountc of $150,000 on the transfer of her stock made to WFI calculated as ($200,000 - $50,000) .
Explanation:
1. Based on the information given WFI transaction is a taxable transaction which include a recognizes gain of the amount of $40,000 on the transfer of the building as.well as gain of the amount of $60,000 on the transfer of the land.
2. Shauna will recognizes gain of the amount of $150,000 on the transfer of her stock made to WFI calculated as ($200,000 - $50,000) .
Amazon Company uses predetermined departmental overhead rates based on direct labor cost to apply manufacturing overhead to jobs. The predetermined overhead rate for Department A this year was 200% of direct labor cost. The predetermined overhead rate for Department B this year was 50% of direct labor cost. Job Delta, which used labor time in both departments, was charged with the following costs.
Dept A Dept B
Direct materials $50,000 $10.000
Direct labor ? $60.000
Manufacturing overhead $80.000 ?
What was the total manufacturing cost assigned to Job Delta?
a. $270,000
b. $360,000
c. $390.000
d. $480.000
Answer:
a. $270,000
Explanation:
Department A:
Manufacturing overhead=200% of direct labor
80000 = 200% of direct labor
So, direct labor = 80000/200%=$40,000
Department B:
Manufacturing overhead=50% of direct labor
So, Manufacturing overhead = 50%*60000=$30,000
Total manufacturing cost = Material cost + Labor cost + Manufacturing overhead
- Material cost = 50000+10000=$60,000
- Direct labor cost = 40000+60000=$100,000
- Manufacturing overhead = 80000+30000=$110,000
Total manufacturing cost = $60,000 + $100,000 + $110,000
Total manufacturing cost = $270,000
FOR FRIEND AND SHIFTING PLZ DO NOT FLAG THIS
ok so heres your hero customs
try to think of a quirk then look for what you want
more to come just wait
Answer:
ooooooooo I want that whole fit
Explanation:
Identify each of the following accounts as a revenue(R), expense(E), asset(A), liability(L), or equity(OE) by placing initials in the blanks.
a. Salary Expense
b. Cash
c. Equipment
d. Owner, Capital
e. Fees Revenue
f. Accounts Receivable
g. Accounts, Payable
h. Owner, Withdrawals
i. Supplies
j. Unearned Revenue
k. Prepaid Insurance
l. Office furniture
Answer:
a. Salary Expense (E)
b. Cash (A)
c. Equipment (A)
d. Owner, Capital (OE)
e. Fees Revenue (R)
f. Accounts Receivable (A)
g. Accounts, Payable (L)
h. Owner, Withdrawals (OE)
i. Supplies (A)
j. Unearned Revenue (L)
k. Prepaid Insurance (A)
l. Office furniture (A)
good lost by fire Rs 12000 and Assurance Company not admitted the claim journal entries
Answer:
Profit and Loss A/c DR 12,000
To Purchase A/c 12,000
Explanation:
Given:
Amount of goods lost = Rs. 12,000
Books of --- Ltd
Journal Entry
Date Particular Debit Credit
Profit and Loss A/c DR 12,000
To Purchase A/c 12,000
(Being goods lost in fire and insurance company accept no claim)
The following balances were taken from the books of Novak Corp. on December 31, 2020.
Interest revenue $88,200 Accumulated depreciation—equipment $42,200
Cash 53,200 Accumulated depreciation—buildings 30,200
Sales revenue 1,382,200 Notes receivable 157,200
Accounts receivable 152,200 Selling expenses 196,200
Prepaid insurance 22,200 Accounts payable 172,200
Sales returns and allowances 152,200 Bonds payable 102,200
Allowance for doubtful accounts 9,200 Administrative and general expenses 99,200
Sales discounts 47,200 Accrued liabilities 34,200
Land 102,200 Interest expense 62,200
Equipment 202,200 Notes payable 102,200
Buildings 142,200 Loss from earthquake damage 152,200
Cost of goods sold 623,200 Common stock 502,200
Retained earnings 23,200
Assume the total effective tax rate on all items is 20%.
Required:
Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year.
Answer:
Net income = $110,400
Explanation:
Note: See the attached excel file for the multiple-step income statement for the Year Ended December 31, 2020.
Multiple-step income statement can be described as an income statement that that contains multiple additions and subtractions employed in order calculate the net income.
In a multiple-step income statement, the gross profit is shown and the operating revenues and expenses are clearly separated from the nonoperating revenues, expenses, gains, and losses.
In the attached excel, a net income is $110,400.
Nona Curry started her own consulting firm, Curry Consulting Inc., on May 1, 2017. The following transactions occurred during the month of May. May 1 Stockholders invested $15,000 cash in the business in exchange for common stock.
2 Paid $600 for office rent for the month.
3 Purchased $500 of supplies on account.
5 Paid $150 to advertise in the County News.
9 Received $1,400 cash for services performed.
12 Paid $200 cash dividend.
15 Performed $4,200 of services on account.
17 Paid $2,500 for employee salaries.
20 Paid for the supplies purchased on account on May 3.
23 Received a cash payment of $1,200 for services performed on account on May 15.
26 Borrowed $5,000 from the bank on a note payable.
29 Purchased office equipment for $2,000 paying $200 in cash and the balance on account.
30 Paid $180 for utilities.
Show the effects of the previous transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year.
Answer:
Curry Consulting Inc.
Showing the effects of transactions on the accounting equation:
Assets = Liabilities + Equity
May 1:
Assets (Cash + $15,000) = Liabilities + Equity (Common Stock + $15,000)
May 2:
Assets (Cash - $600) = Liabilities + Equity (Retained Earnings - $600)
May 3:
Assets (Supplies +$500) = Liabilities (Accounts Payable +$500) + Equity
May 5:
Assets (Cash - $150) = Liabilities + Equity (Retained Earnings - $150)
May 9:
Assets (Cash + $1,400) = Liabilities + Equity (Retained Earnings + $1,400)
May 12:
Assets (Cash - $200) = Liabilities + Equity (Retained Earnings - $200)
May 15:
Assets (Accounts Receivable +$4,200) = Liabilities + Equity (Retained Earnings +$4,200)
May 17:
Assets (Cash - $2,500) = Liabilities + Equity (Retained Earnings - $2,500)
May 20:
Assets (Cash -$500) = Liabilities (Accounts Payable -$500) + Equity
May 23:
Assets (Cash +$1,200 Accounts Receivable -$1,200) = Liabilities + Equity
May 26:
Assets (Cash +$5,000) = Liabilities (Notes Payable +$5,000) + Equity
May 29:
Assets (Cash -$200 Equipment +$2,000) = Liabilities (Accounts Payable +$1,800) + Equity
May 30:
Assets (Cash - $180) = Liabilities + Equity (Retained Earnings - $180)
Explanation:
The accounting equation shows that Assets = Liabilities + Equity. This equation is the basis of the double-system of accounting. It is always in balance when each transaction is correctly posted. The implication is that every business transaction affects, in two ways, either the assets side or the liabilities and equity side or both.
How do financial institutions contribute to the development of a market economy?
A.
They collect sales tax on goods and services for local and state governments.
B.
They impose and collect tariffs on products imported from other countries.
C.
They prevent businesses and people from overspending when prices are high.
D.
They provide loans so that businesses and people can buy goods and services.
Answer:
Option D
Explanation:
I just used this on my test and got it correct
