Answer:
overapplied by $19,100
Explanation:
The calculation of manufacturing overhead for the year is shown below:-
Manufacturing overhead cost applied = Actual direct labor hours × Predetermined overhead rate
= 20,200 × $8
= $161,600
Manufacturing overhead for the year = Actual overhead - Applied overhead
= $142,500 - $161,600
= $19,100 overapplied
So, for determining the manufacturing overhead for the year we simply applied the above formula.
Which of the following would the human resource manager be likely to handle?
A. A problem with the air condition system
B. A strategic plan to increase production
Х
C. A dispute between two employees about a departmental budget
D. A dispute between two managers about an employee's responsibilities
Answer:D. A dispute between two mangers about an employees responsibility
Explanation:
A dispute between two managers about an employee's responsibilities would the human resource manager be likely to handle. Hence, option D is correct.
What is the work of a human resource manager?Managers of human resources plan, organize, and oversee an organization's administrative operations. They supervise the hiring, interviewing, and onboarding of new employees, assist with chief executives on strategic planning, and act as a liaison between management and personnel in a business.
It's no surprise that HR is one of the fastest-growing industries in the US given the critical role it plays in ensuring businesses run efficiently. In fact, the Bureau of Labor Statistics (BLS) anticipates that by 2030, the HR sector would see an increase of 70,000 jobs.
interacting with staff and employees through various means. holding meetings to evaluate the needs and issues of the firm. deciding on the best course of action in difficult circumstances or employee disputes. guiding groups through the processes of onboarding and training.
Thus, option D is correct.
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tarbucks entered a partnership with Keurig Green Mountain to sell K-Cup single-serving coffee packs. Because Starbucks __________, it was prepared for this shift in its marketing environment added more in-store displays optimized its distribution by adding local outlets in grocery stores tracked, as part of its ongoing environmental scanning activities, the percentage of households with single cup brewers shifted funds from product development to advertising noticed the change in the demographics of coffee and tea drinkers in general
Answer:
E)
Explanation:
It was prepared for this because Starbucks tracked, as part of its ongoing environmental scanning activities, the percentage of households with single-cup brewers. The data that they managed to gather through this study allowed them to quickly determine that there was a large percentage of households with single-cup brewers and therefore the customer base was there. Having a large customer base would drastically increase their chances of obtaining massive profits by simply providing the necessary product to those households, which they plan to do with this partnership.
Suppose the United States has two utilities, Commonweath Utilities and Consolidated Electric. Both produce 20 million tons of sulfur dioxide pollution per year. However, the marginal cost of reducing a ton of pollution for Consolidated Electric is $250 per ton and the marginal cost of reducing a ton of pollution for Commonwealth Utilities is $275 per ton. The government's goal is to cut sulfur dioxide pollution in half (by 20 million tons per year). If the government issues 10 million tradable pollution permits to each utility, what will be the cost of eliminating half of the pollution to society? Using a cap-and-tradeLOADING... system of tradable emission allowances will eliminate half of the sulfur dioxide pollution at a cost of $nothing million per year.
Answer:
The incomplete part of the question is "Using a cap-and-trade system of tradable emission allowances will eliminate half of the sulfur dioxide pollution at a cost of $1 million per year. If the permits are not tradable, what will be the cost of eliminating half of the pollution? If permits cannot be traded, then the cost of the pollution reduction will be $1 million per year." The full question is attched as picture as well
1) Tradable permit system
Then lower MAC firm will abate the all pollution units
Then as MAC1 = $250, MAC2 = $275
Firm 1 = Consolidated electric
Firm 2 = Commonwealth utility
Then 1 will sell all permits to 2, at a price between $250 & $275.
So total cost of abatement of 20 units = MAC1 * 20
= $250 * 20 Unit
= $5,000
2) Non-tradable permits
Total cost = MC1*10 + MC2*10
= $2,500 + $2,750
= $5,250
A struggling company currently has a total value of $700,000. It owes $500,000 from debt financing (assume these are loans from the bank if you wish). The value of the company to the owners is the difference between the total value and the amount owed to the debt holders. What is the current value of the firm to the owners? Now assume that a project is presented to the owners that results in a loss of the entire value of the company with a probability of 50% and results in a gain in value of $500,000 with probability 50% (resulting in a total value of $1,200,000). Show that this in expectation decreases the firm’s value, and explain why, in spite of that, the owners of the company would want to undertake the project.
Answer:
What is the current value of the firm to the owners?
total value - debt = $700,000 - $500,000 = $200,000
Show that this in expectation decreases the firm’s value, and explain why, in spite of that, the owners of the company would want to undertake the project.
the expected value of the company after the new project = (50% x 0) + (50% x $1,200,000) = $600,000, so the net value of the company actually decreases by $100,000.
the issue here is that if things go wrong, the owners will lose $200,000, but if things go well, then the owners equity will increase by $500,000 to a total of $700,000. In this case, the expected value of this project for the owners = (50% x -$200,000) + (50% x $700,000) = $250,000.
I am assuming that this company is some type of corporation, LLC or LLP, not a partnership or sole proprietorship. Under current bankruptcy laws, when a cooperation goes bankrupt, the owners are not personally liable for it.
If the absence of an agreement to the contrary in partnership, what are the all partners entitled?
a) A share in running of the business
b) An equal share of profits I
c) Equally contribute to any losses
d) All of above
Answer:
d) All of above
Explanation:
A partnership agreement provides guidelines on how two or more partners will manage their partnership business. It is the contract that dictates each partner's roles, profit and loss sharing formula, and personal liability of each in case of insolvency.
In the absence of a partnership agreement, the law prescribes that partners share profits and losses equally. All partners assume equal rights to responsibilities and liabilities.
Obesity is most likely caused by _____.
a. stressing too much
b. sleeping too much
c. exercising too much
d. eating too much
Answer:
it is D. eating to much i think
Answer:
D
Explanation:
figure your taxable income, subtract the sum of lines 8 and 9 from line 7, and then enter that number here
Please help !!
Answer:
22532
Explanation:
For this one you dont look at the w2 form. you have to look at the form you are filling out go up to question number 7 and 8 you will subtract those to answers that was filled in 34732-12200= 22532
sorry for the long explanation I was currently working on this and then I read the problem so many times but I feel slow so hope this helps
Beresford Inc. purchased several investments in debt securities during 2020, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are not considered permanent. Held-to-Maturity Securities: Fair Value 12/31/2020 Fair Value 12/31/2021 Amortized Cost 12/31/2020 Amortized Cost 12/31/2021 ABC Co. Bonds $ 385,000 $ 410,000 $ 377,500 $ 370,000 Trading Securities: Fair Value 12/31/2020 Fair Value 12/31/2021 Cost DEF Co. Bonds $ 55,000 $ 66,000 $ 69,100 GEH Inc. Bonds $ 57,000 $ 87,000 $ 49,000 IJK Inc. Bonds $ 54,000 $ 48,500 $ 42,900 Available-for-Sale Securities: Fair Value 12/31/2020 Fair Value 12/31/2021 Cost LMN Co. Bonds $ 147,400 $ 161,900 $ 150,000 What would be the balance in Beresford's accumulated other comprehensive income with respect to these investments in its 12/31/2021 balance sheet (ignore taxes)
Answer:
$11,900
Explanation:
Other Comprehensive income is adjusted only for Available for sale securities. This is a cumulative increase in Fir value above cost for its available for sale securities
Available for sale securities = Fair value - Cost of Investment
Available for sale securities = $161,900 - $150,000
Available for sale securities = $11,900
The balance in Beresford's accumulated other comprehensive income with respect to these investments on its 12/31/2021 balance sheet would be $14,500.
How to Solve the Problem?To determine the balance in Beresford's accumulated other comprehensive income (OCI) for the investments in its 12/31/2021 balance sheet, we need to identify the changes in fair values of available-for-sale securities. The accumulated OCI includes unrealized gains or losses from these investments.
First, let's calculate the changes in fair values of available-for-sale securities:
Change in Fair Value = Fair Value 12/31/2021 - Fair Value 12/31/2020
For LMN Co. Bonds:
Change in Fair Value = $161,900 - $147,400 = $14,500
Next, we add up the changes in fair values of all available-for-sale securities:
Total Change in Fair Value = Change in Fair Value (LMN Co. Bonds)
Total Change in Fair Value = $14,500
Finally, we include this total change in fair value in the accumulated OCI balance:
Balance in Accumulated OCI = Total Change in Fair Value
Balance in Accumulated OCI = $14,500
Therefore, the balance in Beresford's accumulated other comprehensive income with respect to these investments on its 12/31/2021 balance sheet would be $14,500.
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For 2019, Gourmet Kitchen Products reported $21 million of sales and $17 million of operating costs (including depreciation). The company has $15 million of total invested capital. Its after-tax cost of capital is 10% and its federal-plus-state income tax rate was 25%. What was the firm's economic value added (EVA), that is, how much value did management add to stockholders' wealth during 2019? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary.
Answer:
$1,200,000
Explanation:
Calculation for how much value that the management add to stockholders' wealth
First step is to find the Operating Profit using this formula
Operating Profit = Sales - Operating costs
Let plug in the formula
Operating Profit= $21 million - $17 million
Operating Profit=$4,000,000
Second step is to find the Net Operating Profit After Taxes
Net Operating Profit After Taxes
= $4,000,000 * (1-0.25)
Net Operating Profit After Taxes
=$4,000,000 * 0.75
Net Operating Profit After Taxes
=$3,000,000
Last step is to find the Economic Value added using this formula
Economic Value added = Net Operating Profit After Taxes - Invested Capital * Weighted Average Cost of Capital
Let plug in the formula
Economic Value added= $3,000,000 - $15,000,000 * 0.1
Economic Value added=$12,000,000*0.1
Economic Value added= $1,200,000
Therefore the amount of value that the management add to stockholders' wealth will be $1,200,000
Your friends suggest that you take a 15-year mortgage, because a 30-year mortgage is too long and you will pay a lot of money on interest. If your bank approves a 15-year, $900,000 loan at a fixed nominal interest rate of 10% (APR), then the difference in the monthly payment of the 15-year mortgage and 30-year mortgage will be (Note: Round the final value of any interest rate used to four decimal places.)
It is likely that you won't like the prospect of paying more money each month, but if you do take out a 15-year mortgage, you will make far fewer payments and will pay a lot less in interest. How much more total interest will you pay over the life of the loan if you take out a 30-year mortgage instead of a 15-year mortgage?
a) $1,521,333.25
b) $1,411,091.71
c) $1,102,415.40
d) $1,300,850.17
Answer and Explanation:
The computation is shown below:
As we know that
Monthly payment of a loan is given by
P = L [r(1 + r)^n] ÷ [(1 + r)^n - 1]
where,
P = Monthly payment = ?
r = Interst rate = 0.1 ÷ 12 = 0.00833
n = Term = 15 × 12 = 180
L = Loan amount = 900000
Now
P = $900,000 [0.00833(1 + 0.00833)^180] ÷ [(1 + 0.00833)^180 - 1]
= $9671.4461
Now
The Monthly payment for 30-year loan
P = $900,000[0.00833(1 + 0.00833)^360] ÷ [(1 + 0.00833)^360 - 1]
= $7898.1441
So,
Difference is
= $9671.4461 - $7,898.1441
= $1,773.3019
b.
Now
Total payment for 30-year loan is
= $7,898.1441 × 180
= $2,843,331.8871
And,
Total payment for 15-year loan is
= $9,671.4461 × 360
= $1,740,860.2907
So,
Difference is
= $2,843,331.8871 - $1,740,860.2907
= $1,102,471.60
i.e. option c
On October 1, Sponge Bob, Inc. received $240 up front from a customer for a yearly magazine subscription. Magazines are provided one per month.
Record the following journal entries.
a. Record the initial receipt of payment from the customer on October 1.
b. Record the adjusting entry for three months of magazines provided to the customer by December 31
Answer:
a.
Oct 1 Cash $240 Dr
Unearned Subscription Revenue $240 Cr
b.
Dec 31 Unearned Subscription Revenue $60 Dr
Subscription Revenue $60 Cr
Explanation:
a.
The receipt of $240 upfront in advance from a customer is a liability for the business as the business has received cash for service that is yet to be provided. The business will record this as a debit to the cash account and credit to a liability account of Unearned Service Revenue.
b.
On 31 december, the business has provided magazines for 3 months thus it has earned revenue for 3 months. The revenue for 3 months is,
Revenue per month = 240 / 12 = 20
For 3 months = 20*3 = 60
The business will record this as a credit to the subscription revenue and a debit to the unearned subscription revenue
If the equilibrium price of avocados is $4 and the government issues a price ceiling of $4.50, what is likely to happen in the market for avocados? Group of answer choices The equilibrium price will remain unchanged from the price ceiling. The equilibrium price will rise to $4.50 as a result of the price ceiling. A shortage of avocados will result from the price ceiling. A surplus of avocados will result from the price ceiling.
Answer:
A surplus of avocados will result from the price ceiling.
Explanation:
A price ceiling is when the government or an agency of the government sets the maximum price for a good or service.
A price ceiling is binding when it is set below equilibrium price.
The price ceiling ($4.50) is less than the equilibrium price ($4) of avocados. As a result, surplus would increase. The supply of avocados would exceed the demand because price ceiling is above equilibrium price
Gilmore, Inc., had equity of $130,000 at the beginning of the year. At the end of the year, the company had total assets of $285,000. During the year, the company sold no new equity. Net income for the year was $28,000 and dividends were $3,200. a. Calculate the internal growth rate for the company. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. Calculate the internal growth rate using ROA × b for beginning of period total assets. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) c. Calculate the internal growth rate using ROA × b for end of period total assets. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer and Explanation:
a and b The computation of internal growth rate is shown below:-
ROA = Net Income ÷ Total Assets
= $28,000 ÷ $285,000
= 9.82%
Retention Ratio = b = (Net Income - Dividends) ÷ Net Income
= ($28,000 - $3,200) ÷ $28,000
= $24,800 ÷ $28,000
= 88.57%
Internal Growth Rate = (ROA x b) ÷ (1 - ROA x b)
IGR = 9.82% × 88.57% ÷ (1 - 9.82% × 88.57%)
= 9.53%
c. Total Assets (t=1) = Total Assets (t=1) + Net Income - Dividends
= 285,000 + 28,000 - 3,200
= $253,800
ROA = 28,000 ÷ $253,800
= 11.03%
IGR = 11.03% × 88.57% ÷ (1 - 11.03% × 88.57%)
= 10.83%
Prompt What are three ways to increase productivity?
Answer:
Administrar bien tu tiempo...
Definir bien lo que vas a hacer durante el día...
Seleccionar tus prioridades del día...
Answer:
Manage your time well...
Define well what you are going to do during the day...
Select your priorities for the day...
Explanation:
your welcome for the English
g You are planning to save for retirement over the next 33 years. To do this, you will invest $774 per month in a stock account and $328 per month in a separate bond account. The return of the stock account is expected to be 12%, and the bond account will pay 6%. When you retire, you will combine your money into an account with an expected 9% return. How much can you withdraw each month in retirement from your account assuming a 20-year withdrawal period
Answer:
monthly distribution = $32,877.37
Explanation:
we can use the future value of an annuity formula to determine how much money you will have once you retire:
effective interest rate:
1.12 = (1 + r)¹²
¹²√1.12 = ¹²√(1 + r)¹²
1.00949 = 1 + r
r = 0.949%
1.06 = (1 + r)¹²
¹²√1.06 = ¹²√(1 + r)¹²
1.00487 = 1 + r
r = 0.487%
FV annuity factor, 396 periods, 0.949% = 4,332.08311
FV annuity factor, 396 periods, 0.487% = 1,200.65629
FV = $774 x 4,332.08311 = $3,353,032.33
FV = $328 x 1,200.65629 = $393,815.26
total FV = $3,746,847.59
to determine the monthly distribution, we can use the present value of an annuity formula:
effective interest rate:
1.09= (1 + r)¹²
¹²√1.09 = ¹²√(1 + r)¹²
1.00721 = 1 + r
r = 0.721%
PV annuity factor, 240 periods, 0.721% = 113.96434
monthly distribution = $3,746,847.59 / 113.96434 = $32,877.37
Suppose that consumers have an average MPC of 0.75. However, 20% of their income goes to the government in the form of taxes. Furthermore, 25% of disposable income is spent on foreign goods and services rather than domestic goods. Suppose that the government consumes $750 billion, investment is $500 billion, and exports are $250 billion. Autonomous consumption is also $500 billion. How large is the expenditure multiplier
Answer: 1.67
Explanation:
The following can be gotten from the question:
MPC = 0.75
Taxes = 20% = 0.2
Income spent for foreign goods = 25% = 0.25
Then we slot the values into the GDP formula. This will be:
GDP = C+I+G+NX
GDP = C+0.75(Y-0. 2Y)+G+I+NX-0. 25(Y-0. 2Y)
Y = C+0.75(0.8Y)+G+I+NX-0.25(0.8Y)
Y = C+0.6Y+G+I+NX-0. 2Y
Collect like terms
Y = C+I+G+NX+0.6Y-0.2Y
Y= C+I+G+NX+0.4Y
Y-0. 4Y = C+I+G+NX
Y(1-0.4) = C+I+G+NX
0.6Y = C+I+G+NX
Divide through by 0.6
0.6Y/0.6 = 1/0.6(C+I+G+NX)
Y = 1.67(C+I+G+NX)
The expenditure multiplier is 1.67
Wheeler’s Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of each bike. Estimated costs and expenses for the coming year follow: Bike parts $ 349,800 Factory machinery depreciation 56,500 Factory supervisor salaries 140,000 Factory direct labor 240,192 Factory supplies 46,400 Factory property tax 27,750 Advertising cost 27,500 Administrative salaries 50,500 Administrative-related depreciation 21,200 Total expected costs $ 959,842 Required: 1. Calculate the predetermined overhead rate per direct labor hour if the average direct labor rate is $12.51 per hour. 2. Determine the amount of applied overhead if 18,000 actual hours are worked in the upcoming year.
Answer:
See answers below
Explanation:
1 The predetermined overhead rate
= Cost of manufacturing overhead / Cost driver.
Where cost driver
= labor cost / labor rate
= $240,192 / $12.51
= 19,200 hours
Expected overhead
= depreciation + supervisor + supplies + property tax
= 56,500 + 140,000 + 46,400 + 27,750
Total overhead = 270,650
Overhead rate = 270,650 / 19,200
= 14.10 per hour
2. The amount t of applied overhead for of 18,500 actual hours were worked on
= 18,500 hours × $14.10
= $260,850
if you have good judgment and can handle pressure on the job, you show
Answer: professionalism
Explanation: This is because, it is expected of every professional person to have all these characteristics in the work place
A cell phone company has a fixed cost of $1,500,000 per month and a variable cost of $20 per month per subscriber. The company charges $39.95 per month to its cell phone customers. (2.2) a. What is the breakeven point for this company? b. The company currently has 73,000 subscribers and proposes to raise its monthly fees to $49.95 to cover add-on features such as text messaging, song downloads, game playing, and video watching. What is the new breakeven point if the variable cost increases to $25 per customer per month? c. If 10,000 subscribers will drop their service because of the monthly fee increase in Part (b), will the company still be profitable?
Answer:
a. Break-even point = Fixed Cost divided by Contribution per unit
= $1,500,000/$19.95
= 75,188 subscribers
b. New break-even point = $1,500,000/$24.95
= 60,120 subscribers
c. Subscriber base = 73,000
less dropped subscribers 10,000
adjusted subscribers = 63,000
The company will still be profitable because it will break-even with 60,120 subscribers. The excess 2,880 (63,000 - 60,120) subscribers after the break-even point of 60,120 will cause the company to make some profit.
Explanation:
a) Data and Calculations:
Fixed cost = $1,500,000 per month
Variable cost $20 per month per subscriber
Charges to customers per month $39.95
Contribution = $39.95 - $20 = $19.95
New variable cost = $25
New monthly charge = $49.95
Contribution per unit = $49.95 - $25 = $24.95
a. The breakeven point is 75,188.
b. The new breakeven point is 60,120.
c. If 10,000 subscribers will drop their service because of the monthly fee increase, the firm will still be profitable.
The formula used to determine breakeven point is : Fixed cost / (price - variable cost)
Initial breakeven point = $1,500,000 / ($39.95 - $20)
$1,500,000 / $19.95 = 75,188
New breakeven point = $1,500,000 / ($49.95 - $25)
$1,500,000 / $24.95 = 60,120
Profit = total revenue - total cost
Total revenue = $49.95 x 63,000 = 3,146,850
Total cost = $1,500,000 + ($25 x 63,000) = 3,075,000
Profit = 3,146,850 - 3,075,000 = $71,850
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Former Senate Majority Leader George Mitchell responded to a white supremacist rally in Charlottesville, Virginia, with this argument: "Amazon was created by Jeff Bezos, whose adoptive father was born in Cuba. Google was co-founded by Sergey Brin, who was born in Russia. Would we be a better country if they had not been admitted? Of equal importance, what are the chances that if Steve Jobs had lived his life in Syria he would have created Apple? Or Jeff Bezos in Cuba? Or Sergey Brin in Russia?" He argued that
Options are;
- America should come first in negotiations with other countries
- diversity should only include geniuses
-diversity is America's strength
Answer:
-diversity is America's strength
Explanation:
Note, we are to consider the context in which the Former Senate Majority Leader George Mitchell was speaking. Remember, we are told he was responding to a group that is often known for their anti-immigration/diversity sentiments.
Hence, his statements were more of an argument in support of diversity. In other words, diversity is America's strength.
Pizza Pies Limited has the following value chain for its pizzas. Boxes are designed by Shala Designers Inc. and printed and delivered by Rodoes Printing Co. for $0.95 per box. The pizzas are made in the stores with fresh ingredients and baked in the ovens for a total cost of $3.80, including labor, ingredients, and overhead. The pizza delivery costs $1.35. Pizza Pies needs to reduce the price of its pizza to $6.50 to meet local demand. However, it desires a 10 percent markup for profit. a-1. What is the target cost?
Answer:
Target cost= $5.91
Explanation:
Giving the following information:
Pizza Pies needs to reduce the price of its pizza to $6.50 to meet local demand. However, it desires a 10 percent markup for profit.
We need to find the target cost using the following formula:
Target cost= selling price / (1 + mark up percentage)
Target cost= 6.5/ (1.1)
Target cost= $5.91
The Better Business Buniau is a consumer protection organization sponsored by consumer groups.
O a. True
O b. False
g The Federal Reserve System is responsible for establishing monetary policy. It has a significant degree of independence from the executive, legislative and judicial branches of government. Its policymakers, the seven-member Board of Governors, serve 14 year terms with one member appointed every two years. There are 12 Federal Reserve District Banks spread around the county rather than one central bank in Washington, D.C. to carry out the policies established by the Board of Governors. Why do you think the Fed was set up in this manner
Answer:
The FED is legally "independent within the government", which means that it can make any decisions regarding monetary policy, but at the same time it is accountable for them (to the Congress, not the President).
The reason behind this independence, is that if the FED could be managed by the President, then if the President felt that he needed to boost the economy in the short run, e.g. before an election, it could engage in a large expansionary monetary policy, but after a few months the economy would probably collapse.
Members of the FED are supposed to be technical professionals, while politicians are politicians (exactly the opposite of technical professionals). Members of the FED should not worry that if they do not follow the orders of the current President, he/she would retaliate against them.
The FED was divided into 12 districts as a regional division since communications have been good, easy, safe and stable for the last 60-70 years or so, and the FED is much older. Besides communication issues, it is also a way of decentralizing the organization.
On January 2, 20X1, Utta Corp. (a calendar-year company) grants 10,000 stock options with a 3-year vesting period to employees. On the grant date, the market price of the $1 par value stock is equal to the exercise price of $20 per share. On the date of grant, the estimated value of the options is $6 per option. During 20X4, when the market value of the stock is $30 per share, 9,000 stock options were exercised. Utta Corp. should recognize this event by debiting
Answer:
Paid-in capital-stock options for $54,000
Cash for $180,000
Explanation:
Based on the information given the Corporation should recognize this event by debiting Paid-in capital-stock options for the amount of $54,000 and debiting Cash for the amount of $180,000
Paid-in capital-stock options for $54,000 is calculated as :
First step
($20 per share-$6 per option) *9,000 stock options
=$14*9,000 stock options
=$126,000
Second step
($20 per share*9,000 stock options)
=$180,000
Hence, Paid-in capital-stock options will be :.
$180,000-$126,000
Paid-in capital-stock options=$54,000
Cash for $180,000 is calculated as:
($20 per share*9,000 stock options)
=$180,000
Therefore Utta Corp. should recognize this event by debiting:
Paid-in capital-stock options for $54,000
Cash for $180,000
Exercise 2-10 Applying Overhead Cost to a Job [LO2-2] Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $5,000 for direct materials, $8,000 for direct labor, and $6,000 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $2,500 for direct materials and $4,000 for direct labor. Required: 1a. Should any overhead cost be applied to Job W at year-end? Yes No 1b. How much overhead cost should be applied to Job W? 2. How will the costs included in Job W’s job cost sheet be reported within Sigma Corporation’s financial statements at the end of the year? Raw Materials Work-in-Process Finished Goods
Answer:
See explanations below.
Explanation:
1. Yes. Overhead should be applied to job W at year-end. Overhead is applied to every jobs whether or not they are completed at year end.
b. To calculate the amount of overhead to be applied to job W, we need to calculate first the overhead application rate based on direct labor cost through job V.
Direct labor cost. $8,000
Overhead applied $6,000
Overhead rate = [ Overhead applied / Direct labor cost ] × 100
= [6,000/8,000] × 100
= 75%
Overhead to be applied to job W
Direct labor cost $4,000
Overhead rate 75%
Overhead to be applied = $3,000
It therefore means that $3,000 should be applied to job W.
2. Because job W was not completed at the year end, it would then be included in the work in process inventory in the financial statements of Sigma Corporation at year end.
Which professionals would most likely use heavy equipment and specialized Tools in their line of work
Answer:
Firefighters, Police, Construction, e.t.c.
Explanation:
I hope this helps!! I apologize if wrong!
A large national company has seen its stock value decrease during the past
month. Which of the following might be a reasonable explanation for the
cause of this?A the company new product line is a top seller B the company sales forecast is extremely positive C they are under criminal investigation and facing potential charges D the company is experiencing tremendous growth
Answer: is C They are under criminal investigation and facing potential charges
Explanation:
Faldo, Inc., provides medical coverage to employees through a self-insured plan. Nick, the president of Faldo, receives $3,400 in medical expense reimbursements from the plan during the current year. What are the tax consequences to Nick under the following circumstances? a. All employees are fully covered by the plan. If all employees are covered by the plan, it is . As such, payments made to employees from self-insured medical reimbursement plans are from the employee's income. So, Nick's $3,400 payment is in his gross income. b. All employees are covered by the plan. However, only Faldo's executive officers are fully reimbursed for all expenses. All other employees are limited to a maximum reimbursement of $1,000 per year. As reimbursements are in favor of highly compensated employees, the rei
Answer:
a. All employees are fully covered by the plan.
Since all the company's employees are covered by the health plan in a similar way, then reimbursements are excluded from gross income. The plan treats all the employees int he same way, so the benefits are the same for everyone, which means that it is company perk and it doesn't discriminate.
b. All employees are covered by the plan. However, only Faldo's executive officers are fully reimbursed for all expenses. All other employees are limited to a maximum reimbursement of $1,000 per year.
Since the health plan discriminates between normal employees and executives, the additional payments made to Nick for being president of the company will be considered as part of his gross income. In this case, the first $1,000 is not included, but the rest, $2,400, must be considered as part of his income.
New Business is just being formed by 10 investors, each of whom will own 10% of the business. The firm is expected to earn $1,000,000 before taxes each year. The corporate tax rate is 34% and the personal tax rate for the firm's investors is 35%. The firm does not need to retain any earnings, so all of its after-tax income will be paid out as dividends to its investors. The investors will have to pay personal taxes on whatever they receive. How much additional spendable income will each investor have if the business is organized as a partnership rather than as a corporation? Group of answer choices $26,078 $20,332 $22,763 $19,006 $22,100
Answer:
$22,100
Explanation:
Calculation for the additional spendable income
First step is to find the Corporation Spendable income amount
Corporate taxes$340,000
($1,000,000*34%)
Income after corporate tax $660,000
($1,000,000-$340,000)
Tax on dividends $231,000
($660,000*35%)
Spendable income $429,000
($660,000-$231,000)
Second step is to find the Partnership Spendable income amount
Taxes paid by business $0
Income received by investors $1,000,000
Taxes paid by partners as personal income $350,000
($1,000,000*35%)
Spendable income $650,000
($1,000,000-$350,000)
Last step is to find the Difference between Corporation Spendable income amount and the Partnership Spendable income amount
Using this formula
Difference in Spendable income=Corporation Spendable income amount - Partnership Spendable income amount
Let plug in the formula
Difference in Spendable income=$429,000-$650,000
Difference in Spendable income=$221,000
Which means that the amount of $221,000 is the
Total gain amount from being a partnership.
Hence, the Individual investor gain will be calculated as $221,000*10%
Individual investor gain=$22,100
Therefore the amount of spendable income that each investor will have if the business is organized as a partnership rather than as a corporation will be $22,100
The additional spendable income will each investor have if the business is organized as a partnership rather than as a corporation is $22,100.
The calculation is as follows:Income if formed as corporation in hands of each shareholder should be
= 1,000,000 × 10% × ( 1- .34 ) × (1- .35)
= 100,000 × .66 × .65
= $42,900
Now
Income will be taxable in hands of partner = 1,000,000 ×10% ×(1-.35)
= 100,000 ×.65
= 65000
Now
Additional income should be
= $65,000 - $42,900
= $22,100
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Both Bond Sam and Bond Dave have 9 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has five years to maturity, whereas Bond Dave has 18 years to maturity. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Sam and Bond Dave? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Percentage change in price of Bond Sam % Percentage change in price of Bond Dave % If rates were to suddenly fall by 2 percent instead, what would be the percentage change in the price of Bond Sam and Bond Dave? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Percentage change in price of Bond Sam % Percentage change in price of Bond Dave %
Answer:
a. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Sam and Bond Dave?
Bond Sam's price will change by -7.54% Bond Dave's price will change by -14.33%b. If rates were to suddenly fall by 2 percent instead, what would be the percentage change in the price of Bond Sam and Bond Dave?
Bond Sam's price will change by 8.32% Bond Dave's price will change by 20.29%Explanation:
Bond Sam
if market interest rates increase by 2%:
11% / 2 = 5.5% semiannual payments
5 years to maturity = 10 payments
present value = future value = 1000
PV of face value = 1,000 / (1 + 5.5%)¹⁰ = $585.43PV of coupon payments = 45 x 7.53763 (PV annuity factor, 5.5%, 10 periods) = $339.19new market price = $585.43 + $339.15 = $924.62
if interest increases by 2%, present value (market value) will decrease by $75.38 ⇒ 7.54% decrease
if market interest rates decrease by 2%:
7% / 2 = 3.5% semiannual payments
5 years to maturity = 10 payments
present value = future value = 1000
PV of face value = 1,000 / (1 + 3.5%)¹⁰ = $708.92 PV of coupon payments = 45 x 8.31661 (PV annuity factor, 3.5%, 10 periods) = $374.25new market price = $708.92 + $374.25 = $1,083.17
if interest decrease by 2%, present value (market value) will increase by $83.17 ⇒ 8.32% increase
Bond Dave
if market interest rates increase by 2%:
11% / 2 = 5.5% semiannual payments
18 years to maturity = 36 payments
present value = future value = 1000
PV of face value = 1,000 / (1 + 5.5%)³⁶ = $145.52PV of coupon payments = 45 x 18.80474 (PV annuity factor, 5.5%, 36 periods) = $711.21new market price = $145.52 + $711.21 = $856.73
if interest increases by 2%, present value (market value) will decrease by $143.27 ⇒ 14.33% decrease
if market interest rates decrease by 2%:
7% / 2 = 3.5% semiannual payments
18 years to maturity = 36 payments
present value = future value = 1000
PV of face value = 1,000 / (1 + 3.5%)³⁶ = $289.83 PV of coupon payments = 45 x 20.29049 (PV annuity factor, 3.5%, 36 periods) = $913.07new market price = $289.83 + $913.07 = $1,202.90
if interest decrease by 2%, present value (market value) will increase by $202.90 ⇒ 20.29% increase
