Answer:
Tri-City Realty
1. Journal Entries
Date Accounts Titles Debit Credit
Jan. 1 Cash $29,000
Common stock $29,000
To record the transfer of cash for common stock.
Jan. 2 Rent expense $2,250
Cash $2,250
Jan. 3 Supplies $2,300
Accounts payable $2,300
To record purchase of supplies on account.
Jan. 4 Accounts payable $825
Cash $825
To record the payment on account.
Jan. 5 Cash $15,660
Fees Revenue $15,660
To record earned fees.
Jan. 6 Automobile Exp. $1,620
Miscellaneous exp. 830
Cash $2,450
To record the payment of automobile and miscellaneous expenses.
Jan. 7 Office Salaries $2,200
Cash $2,200
To record the payment of office salaries.
Jan. 8 Supplies Expense $1,350
Supplies $1,350
To record the cost of supplies used.
Jan. 9 Drawings $2,800
Cash $2,800
To record cash withdrawn for personal use.
2.T-Accounts
Cash
Date Accounts Titles Debit Credit
Jan. 1 Common stock $29,000
Jan. 2 Rent expense $2,250
Jan. 4 Accounts payable 825
Jan. 5 Fees Revenue 15,660
Jan. 6 Automobile expenses 1,620
Miscellaneous expenses 830
Jan. 7 Office salaries 2,200
Jan. 9 Drawings 2,800
Jan. 9 Balance $34,135
Totals $44,660 $44,660
Common Stock
Date Accounts Titles Debit Credit
Jan. 1 Cash $29,000
Rent Expense
Date Accounts Titles Debit Credit
Jan. 2 Cash $2,250
Supplies
Date Accounts Titles Debit Credit
Jan. 3 Accounts payable $2,300
Jan. 8 Supplies expense $1,350
Jan. 9 Balance $ 950
Totals $2,300 $2,300
Accounts Payable
Date Accounts Titles Debit Credit
Jan. 3 Supplies $2,300
Jan. 4 Cash $825
Jan. 9 Balance $1,475
Totals $2,300 $2,300
Fees Revenue
Date Accounts Titles Debit Credit
Jan. 5 Cash $15,660
Automobile Expenses
Date Accounts Titles Debit Credit
Jan. 6 Cash $1,620
Miscellaneous Expenses
Date Accounts Titles Debit Credit
Jan. 6 Cash $830
Office Salaries
Date Accounts Titles Debit Credit
Jan. 7 Cash $2,200
Supplies Expense
Date Accounts Titles Debit Credit
Jan. 8 Supplies $1,350
Drawings
Date Accounts Titles Debit Credit
Jan. 9 Cash $2,800
3. Unadjusted Trial Balance as of January 31, 2019:
Accounts Titles Debit Credit
Cash $34,135
Supplies 950
Common stock $29,000
Accounts payable 1,475
Fees Revenue 15,660
Rent expenses 2,250
Automobile expense 1,620
Miscellaneous expense 830
Office salaries 2,200
Supplies expense 1,350
Drawings 2,800
Totals $46,135 $46,135
4a. Amount of total revenue recorded in the ledger:
= $15,660
b. Amount of total expenses recorded in the ledger:
= $8,250
c. Amount of net income for January:
= $7,410
5. Increase or decrease in owner's equity for January:
= $4,610
Explanation:
a) Total expenses:
Rent expenses 2,250
Automobile expense 1,620
Miscellaneous expense 830
Office salaries 2,200
Supplies expense 1,350
Total $8,250
b) Net Income:
Fees Revenue $15,660
Total expenses 8,250
Net income $7,410
c) Increase in Equity:
Net income $7,410
Drawings (2,800)
Increase = $4,610
Jpmorgan chase operates outside of the united states explain how it competes and its strategy in one specifi country?
In Brazil, Chase's strategy is to focus on providing competitive online solutions, moving away from physical banks.
The financial manager interacts jointly with many different individuals and departments within the firm. Forecasting and planning, as well as coordination and control, are two of the major areas of responsibility where this interaction takes place.
A. True
B. False
Answer:
A. True
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP). Examples of financial statements includes Balance sheet, cash-flow and income statement.
Managerial accounting also known as cost accounting is an accounting technique focused on identification, measurement, analyzing, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals.
The financial manager interacts jointly with many different individuals and departments within the firm.
Basically, the two of the major areas of responsibility where this interaction takes place are;
I. Forecasting and planning: this refers to the strategic process of predicting future occurrences with respect to the organization and making plans to mitigate any potential failures or challenges.
II. Coordination and control: it involves the process of managing and controlling the various employees working in an organization, in order to achieve set goals and objectives successfully.
Teresa's Performance Pizza is a small restaurant in Detroit that sells gluten-free pizzas. Teresa's very tiny kitchen has barely enough room for the four ovens in which her workers bake the pizzas. Teresa signed a lease obligating her to pay the rent for the four ovens for the next year. Because of this, and because Teresa's kitchen cannot fit more than four ovens, Teresa cannot change the number of ovens she uses in her production of pizzas in the short run.
However, Teresa's decision regarding how many workers to use can vary from week to week because her workers tend to be students. Each Monday, Teresa lets them know how many workers she needs for each day of the week. In the short run, these workers are________ inputs, and the ovens are __________ inputs
Answer:
Variable inputs;Fixed inputs
Explanation:
Based on the information given In the short run, these workers are VARIABLES inputs, and the ovens are FIXED inputs reason been that we were told that her decision as regards to how many workers to use often vary from week to week due to the fact that her workers are students which means that her workers can often be changed which was why it was regarded as VARIABLE INPUTS while ovens on the other hand are considered to be FIXED INPUTS reason been that we were told that she cannot change the number of ovens which she uses in her production of pizzas due to the fact that her kitchen cannot contain more than four ovens which means that the number of oven cannot be my changed which was why they are regarded as FIXED INPUTS.
Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, and $50 increments. Assume Apple sells $21 million in iTunes gift cards in November, and customers redeem $14 million of the gift cards in December.
Required:
a. Record the advance collection of $21 million for iTunes gift cards in November.
b. Record the revenue earned when $14 million in gift cards is redeemed in December.
c. What is the ending balance in the Deferred Revenue account?
Answer:
A. Nov 30 Dr Cash 21,000,000
Cr Deferred Revenue 21,000,000
B. Dec 31 Dr Deferred Revenue 14,000,000
Cr Sales Revenue 14,000,000
C. $7,000,000
Explanation:
a. Preparation of the journal entry to Record the advance collection of $21 million for iTunes gift cards in November
Nov 30 Dr Cash 21,000,000
Cr Deferred Revenue 21,000,000
(Being To record the cash received for gift cards)
b. Preparation of the journal entry to Record the revenue earned when $14 million in gift cards is redeemed in December
Dec 31 Dr Deferred Revenue 14,000,000
Cr Sales Revenue 14,000,000
(Being To record the redemption of gift cards)
c. Calculation for the ending balance in the Deferred Revenue account
Ending Balance in Deferred revenue = $21,000,000 - $14,000,000
Ending Balance in Deferred revenue = $7,000,000
Therefore ending balance in deferred revenue account will be $7,000,000.
(9782)
कीजिए।
b) Dr. Sapna got her MBBS degree. As she is going to start a profession, she should be aware of
the feature of Profession. What features of profession she should know?
(Lesson 2)
Answer:
As she is going to start a profession, she should be aware of the feature of Profession and features of profession she should know is explained below in detail.
Explanation:
A profession is described as obtaining high expertise in a certain discipline and working to develop all that field for the well-being of the earth.
As Doctor Sapna is about to operate for the well-being of all the people. She should have fascinating of the following characteristics of professionalism, such as:
Practical experienceAccountabilityWell trained in all the technical toolsNo discretion is choosing the patientsDirect work relationshipEthical constraintsGreat responsibilityMerit-basedMoral in workingJudith was in a car accident in May and had to pay a $1,000 deductible. In September, she was at fault in another accident. What is true?
O She will pay the deductible again
Her insurance will pay the total cost.
She will pay the total bill, without deductible.
O Her insurance will decrease the deductible.
Answer:
She will pay the deductible again
Explanation:
that is the correct
Consider the following events: Scientists reveal that eating oranges decreases the risk of diabetes, and at the same time, farmers use a new fertilizer that makes orange trees produce more oranges. What are the net effects on the equilibrium price and quantity of oranges?
a. An increase in the price of oranges, the change in equilibrium quantity is uncertain.
b. A decrease in the price of oranges, the change in equilibrium quantity is uncertain.
c. An increase in the equilibrium quantity of oranges, the change in equilibrium price is uncertain.
d. A decrease in the equilibrium quantity of oranges, the change in equilibrium price is uncertain.
Answer:
The net effects on the equilibrium price and quantity of oranges are:
c. An increase in the equilibrium quantity of oranges, the change in equilibrium price is uncertain.
Explanation:
The promotion of the eating of oranges by Scientists will increase the demand for oranges. This increased demand will shift the equilibrium quantity of oranges demanded by consumers. With the use of the new fertilizer by farmers to increase the production of oranges, the equilibrium quantity of supply will shift with demand. However, it is uncertain, from the data provided, if the equilibrium price will upward or downward. This will depend on other market forces, e.g. the market competitiveness.
How does international trade affect the lives of U.S. citizens?
Answer:
The short answer is - A lot!
Explanation:
According to the U.S Chamber of Commerce, the population of the U.S. is just 5% of that of the rest of the world and the only way to raise real wages within the U.S. is to reach out to that other 95% with its own products and services.
To put that in perspective, there are over forty million jobs in the U.S. all of which depend directly or indirectly on trade. In 2019 alone, the U.S. recorded approximately USD 1.4 trillion in exports of its own manufactured goods. According to the U.S. Department for Commerce, in the same year, the above-mentioned export activity accounted for at least 6 million jobs within the manufacturing sector in the U.S. and this is just U.S. manufacturing versus international trade.
Taking a look at Services exported from the U.S. in 2019, we see that services worth about USD 850 billion were exported. This makes America the largest exporter of services to the world.
Let's imagine for a moment, that that didn't exist?
We have looked at exports thus far. However, there is also a flip side of the coin called international trade and that is imports. No country is 100% self-sufficient to the point that they have a comparative advantage in every area hence the need for international trade.
The U.S. economy has a Free Trade Agreement with over 20 countries. Statistics also show that more than 60% of all raw material inputs are imported.
We can thus conclude that International Trade is key to attaining and sustaining the American Dream.
Cheers
whats the difference between elastic and inelastic in business
Answer:
Elastic demand means there is a substantial change in quantity demanded when another economic factor changes typically the price of the good or service, whereas inelastic demand means that there is only a slight or no change in quantity demanded of the good or service when another economic factor is changed.
Explanation:
Hope this helps
From,
1kvibing
please help me.......
1. PUBLIC AFFAIR OFFICER
2. CHAMBER OF COMMERCE OFFICER
3. TAX AUDITOR
4. DISPATCHER
Many fast-food restaurants compete on lean business concepts. Match each of the following activities at a fast-food restaurant with the lean business concept it strives to achieve. Some activities might relate to more than one lean business concept.
a. Just-in-time (JIT)
b. Continuous improvement (CI)
c. Total quality management (TQM)
1. Courteous employees
2. Food produced to order
3. Clean tables and floors
4. Orders filled within three minutes
5. Standardized food making processes
6. New product development
7. Customer satisfaction surveys
8. Standardized menus from location to location
9. Drive-through windows
10. Continually changing menus
Answer:
1. C
2. A
3. C
4. A
5. C
6. B
7. B and C
8. C
9. A and B
10. B
Explanation:
A lean business is a business concept used by organizations to eliminate waste and maximize value for growth and development. The lean business concept include the following;
A total quality management (TQM) is a management framework that is focused on achieving long-term success through the satisfaction of your customers by the efforts of all the member of staff in an organization.Just-in-time (JIT) is a management framework that is focused on cutting manufacturing costs and increase efficiency between suppliers and consumers through the use of a proper inventory system.A continuous improvement (CI) is a management technique that is focused on improving manufacturing processes, products and services through the elimination of redundancy and time-wasting activities in an organization.1. Total quality management (TQM): Courteous employees
2. Just-in-time (JIT): Food produced to order
3. Total quality management (TQM): Clean tables and floors
4. Just-in-time (JIT): Orders filled within three minutes
5. Total quality management (TQM): Standardized food making processes
6. Continuous improvement (CI): New product development
7. Total quality management (TQM) and Continuous improvement (CI): Customer satisfaction surveys
8. Total quality management (TQM): Standardized menus from location to location.
9. Continuous improvement (CI) and Just-in-time (JIT): Drive-through windows.
10. Continuous improvement (CI): Continually changing menus.
You purchased five call option contracts with a strike price of $22.50 and an option premium of $.48. You held the option until the expiration date. On the expiration date, the stock was selling for $21.70 a share. What is the total profit or loss on your option position? Group of answer choices −$45 −$120 −$135 $0 −$240
Answer:
You lose your premium $240 down the drain.
Explanation:
-$240
Total Loss= 5*(100 x -$0.48)= -$240
Good luck mate! Options are very risky.
how has MTV networks international overcome cultural difference to create a world band
MTV networks international overcame cultural difference to create a world band by employing staffs from different cultural background and playing different genres of music.
What is culture?It should be noted that culture simply means the way of life of the people. It has to do with their lifestyles and their tradition.
Therefore, MTV networks international overcame cultural difference to create a world band by employing staffs from different cultural background and playing different genres of music.
Learn more about culture on:
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Analyzing the Effects of Transactions Using T-Accounts
Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year:
a. Received $40,000 cash from the company's founders in exchange for common stock
b. Purchased land for $12,000, signing a two-year note (ignore interest).
c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each; paid $2,000 cash and signed a note due in three years for $18,000 (ignore interest),
d. Paid $2.000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks.
e. Stockholder Jonah Lee paid $300,000 cash for a house for his personal use.
Required:
Analyze each item for its effects on the accounting equation of LDS for the year ended December 31.
Prepare a classified balance sheet for LDC at the end of 2010
Answer:
Laser Delivery Services, Inc. (LDS)
Analyzing the Effects of Transactions Using T-Accounts:
Cash
Date Accounts Titles Debit Credit
a. Common Stock $40,000
c. Delivery Truck $2,000
d. Delivery Truck 2,000
Balance 36,000
Common Stock
Date Accounts Titles Debit Credit
a. Cash $40,000
Land
Date Accounts Titles Debit Credit
b. Note Payable $12,000
Note Payable
Date Accounts Titles Debit Credit
b. Land $12,000
c. Delivery Truck 18,000
Balance $30,000
Delivery Trucks
Date Accounts Titles Debit Credit
c. Cash $2,000
Note Payable 18,000
d. Cash 2,000
Balance $22,000
2. Classified Balance Sheet as of December 31, 2010:
Assets:
Cash $36,000
Land 12,000
Delivery trucks 22,000 $34,000
Total assets $70,000
Liabilities + Equity:
Notes Payable 30,000
Common Stock $40,000
Total liabilities + Equity $70,000
Explanation:
a) Trial Balance
Cash $36,000
Land 12,000
Delivery trucks 22,000
Common Stock $40,000
Notes Payable 30,000
Totals $70,000 $70,000
b) Business transactions affect the accounting equation (assets = liabilities + equity) by increasing or decreasing the two sides equally. This means that the accounting equation is always in balance before and after every transaction.
C. In JuneNikea Inc. received the $10,000 payment from XYZWhich of Nikea's accounts are affected by this transaction and what is its effect on the accounting equation?
Answer:
The $10,000 collected by Nikea represent the collections of an accounts receivable, the journal entry should be:
Dr Cash 10,000
Cr Accounts receivable 10,000
In this case, an asset (accounts receivable) will decrease while another asset (cash) will increase). The accounting equation will not change since one assets replaces the other.
Explanation:
Markson Company had the following results of operations for the past year:
Sales (8,000 units at $20.80) $166,400
Variable manufacturing costs $89,200
Fixed manufacturing costs 15,800
Variable administrative expenses 15,200
Fixed selling and administrative expenses 20,800 (141,000 )
Operating income $25,400
A foreign company whose sales will not affect Markson's market offers to buy 2,000 units at $15.20 per unit. In addition to variable manufacturing costs, selling these units would increase fixed overhead by $1,680 for the purchase of special tools. Markson's annual productive capacity is 12,000 units. If Markson accepts this additional business, its profits will:_______
Solution :
The cost of variable manufacturing is given as = $ 89,200
Number of units = 8000 units.
Therefore, the cost of variable manufacturing per unit [tex]$=\frac{89,200}{8000}$[/tex]
= $ 11.15
Therefore for 2000 units = 2000 x 11.15
= $ 22,300
Amounts in $
Sales 30,400 (2000 x 15.20)
Less : variable manufacturing cost 22,300
Less : fixed manufacturing cost 1,680
Less : variable selling and administrative cost 3800
Profit 2620
Therefore the profit is increased by $ 2620.
Rihanna Company is considering purchasing new equipment for $450,000. It is expected that the equipment will produce net annual cash flows of $60,000 over its 10-year useful life. Annual depreciation will be $45,000. Compute the cash payback period
Answer:
7.5 years
Explanation:
Payback is the period a project takes to recover its initial capital outflow.
The formula for calculating the payback period = Initial investments divide by net cash flow per period.
Payback Period = Initial Investments/ Net Cash Flow per Period
Payback period = $450,000/ $60,000
Payback period =7.5 years
According to the Bureau of Economic Analysis (BEA), real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the first quarter of 2018. This contrasts with the fourth quarter of 2017, when real GDP increased by 2.9 percent. According to the Bureau of Labor Statistics (BLS), the consumer price index (CPI) increased by 2.1 percent in 2017. This is the same as the rate of price inflation observed in 2016. The BLS also reports that the unemployment rate for April of 2018 fell to 3.9%, which is the lowest rate of unemployment since December of 2000. Use these data about the recent performance of the U.S. economy to classify each of the following statements as true or false.
a. The low unemployment rate Of early 2018 could have resulted from many discouraged workers leaving the labor force.
b. Growth of real output slowed between the last quarter of 2017 and the first quarter of 2018.
c. In early 2018, real output in the economy rose, while unemployment declined.
d. The prices of all domestic products and services rose in 2017.
Answer:
a. The low unemployment rate Of early 2018 could have resulted from many discouraged workers leaving the labor force.
FALSE, the economy was growing during 2017 and 2018, so the fall in unemployment levels is reasonable.
b. Growth of real output slowed between the last quarter of 2017 and the first quarter of 2018.
TRUE, it fell from 2.9% to 2.1%.
c. In early 2018, real output in the economy rose, while unemployment declined.
FALSE, real output fell from 2.9% to 2.1% as well as unemployment that fell to 3.9%.
d. The prices of all domestic products and services rose in 2017.
TRUE, the consumer price index increased by 2.1% during 2017.
Imagine that your friend is the CEO of a company, called Magna Clothes, that manufactures cool new clothing accessories for both men and women. Now that it has achieved a large following and a level of success in the United States, Magna Clothes wants to start conducting business abroad. Your friend knows you have taken a management class and has asked you to explain the history and significance of the World Trade Organization (WTO). Which of the following statements are true? Check all that apply.
a) The WTO allows countries to have observer status before becoming full members, so they can follow discussions on topics that are of direct interest to them.
b) The WTO limits access to its discussions and information to only its member nations.
c) The WTO came into existence in January 1995.
d) Opponents of the WTO sometimes contend that the organization focuses too
narrowly to the globalization of trade, at the expense of human rights and the environment.
Answer:
a) The WTO allows countries to have observer status before becoming full members, so they can follow discussions on topics that are of direct interest to them.
⇒ TRUE, that way potentially new members get to understand how the WTO works.
c) The WTO came into existence in January 1995.
⇒ TRUE, the WTO birthday is January 1, 1995.
d) Opponents of the WTO sometimes contend that the organization focuses too narrowly to the globalization of trade, at the expense of human rights and the environment.
⇒ TRUE, the WTO's focus is on trade, and it tends to ignore many social and environmental factors.
Explain how a consumer’s place of residence has an especially large impact on their purchase of sports and entertainment commodities.
Answer:
A consumers place of residence has a large impact on their purchase because of how they live in that area and their community.
Explanation:
Example, if you live in New York City, marketers probably will not target you as much to purchase their four wheeler as they would someone who lives in the country.
if i asked a question and two people had to split the points. and i gave the question 60 points. how many points would each person get
Answer:
30 points
Explanation:
If the question is worth 60 points, split between 2 people, it's 30.
is it true or false that the socioeconomic model of social responsibility emphasizes the effort of business decisions on society
Answer:
I pretty sure it's true
Explanation:
hope this helps
Theory X, Theory Y and Theory Z underly the following sequence of schools: _________
a. Scientific Management, Covenantal, Human Relations
b. Human Relations, Covenantal, Scientific Management,
c. Covenantal, Human Relations, Scientific Management,
d. Scientific Management, Human Relations, Covenantal
Answer:
d. Scientific Management, Human Relations, Covenantal
Explanation:
Theory X treats employees as people who only work because they are paid, and that is there only motivation.
Theory Y starts to explore other employee motivations and how they influence workers' performance.
Theory Z is the newest of these theories and it focuses on empowering employees, making them feel important, etc.
A loan of $12,000 is to be repaid within one year with level monthly payments, due at the beginning of each month. The 12 payments equal $1,000 each. A finance charge of $632 is also due with the first payment. Which of the following is closest to the effective annual interest rate on the loan?
a. 12.7%
b. 12.9%
c.13.1%
d. 13.3%
e. 13.5%
Solution :
It is given : loan amount = $12,000
Time to repay = 12 months
Finance charge = $ 632
AT the interest rate, outflow = inflow
The present value of the loan amounts = loan amount
[tex]$1000+632+[1000 \times (PVAF (r ,11))]=12000$[/tex]
[tex]$1000 \times PVAF(r,11)=12000-1632$[/tex]
[tex]$PVAF(r,11)=\frac{10368}{1000}$[/tex]
[tex]$PVAF(r,11)=10.368$[/tex]
Now using the annuity table we get
PVAF(1%, 11)=10.9676
This is equal to 10.368 (approximately)
∴ [tex]$r=1$[/tex] % per month of compounded monthly
So the annual interest rate is :
[tex]$=[(1+0.01)^{12}]-1$[/tex]
[tex]$r=[(1.01)^{12}]-1$[/tex]
[tex]$r = 12.68$[/tex] %
= 12.70 %
Hence the correct option is (a).
[tex]\text{It is given : loan amount} = $12,000\\\text{Time to repay} = 12 months\text{Finance charge} = $ 632\\\text{At the interest rate, outflow = inflow}\\\text{The present value of the loan amounts = loan amount}[/tex]
[tex]1000 + 632 + [ (P.V (r.11))] = 12,000\\\\1000 \text { x } P.V (r,11) = 12,000 - 1,632\\\\P.V (r.11) = \frac{10,368}{1000}\\\\P.V (r,11) = 10.368[/tex]
[tex]\text{Now using the annuity table we get} \\P.V (0.01, 11) =10.9676\\\text{This is equal to 10.368 (approximately)}[/tex]
[tex]r = 0.01 \text{ per month}\\\text{ Annual Interest rate}:\\r= [(1+0.01}^{12}] - 1\\r= [(1.01}^{12}] - 1\\r= 12.68\\[/tex]
Therefore, the closest option among the following choices is an option (a), i.e., 12.7%
For more information about the annual interest rate, refer below
https://brainly.com/question/16544946
Classify each of the following costs as a period cost or a product cost. If you classify the cost as a product cost, further classify it as direct material (DM), direct labor (DL), or manufacturing overhead (MOH). (If the cost is a period cost, leave t classification box empty: do not select a label.)
Period cost If product cost
or product cost DM, DL or MOH
a1. Property taxes-30% of building is used for sales, marketing, and administrative offices
a2. Property taxes-70% of building is used for manufacturing
b. Wages and benefits paid to assembly-line workers in the manufacturing plant
c. Depreciation on automated production equipment
d. Salaries paid to quality control inspectors in the plant
e. Repairs and maintenance on factory equipment
f. Standard packaging materials used to package individual units of product for sale (for example, cereal boxes in which cereal is packaged) g. Lease payment on administrative headquarters
h. Telecommunications costs for the customer service cal center
Answer:
Classification of costs as period cost or product cost
a1. Property taxes is 30% period cost
a2. Property taxes is 70% product cost (MOH)
b. Wages and benefits to factory workers = product cost (DL)
c. Depreciation on production equipment = product cost (MOH)
d. Salaries to quality control inspectors in the plant = product cost (MOH)
e. Repairs and maintenance on factory equipment = product cost (MOH)
f. Standard packaging materials = product cost (MOH)
g. Lease payment on administrative headquarters = period cost
h. Telecommunication costs for customer service = period cost
Explanation:
Period costs are fixed costs incurred that relate more to the period in which they are incurred than to the product. They are not directly related to the product and are treated as expenses. Product costs, on the other hand, are costs incurred in producing the product. They may be in the form of direct materials, direct labor, or manufacturing overhead costs.
The Blacksburg Company is separating materials handling cost into fixed and variable components. The following data have been collected over a five-month period ( all amounts are in thousands): Direct Cost of Materials Month Labor Hours Materials Issued Handling Costs 1 4 $7 $1.60 2 5 5 1.70 3 6 4 1.80 4 7 8 1.90 5 8 6 2.00
Required:
(1) Determine the fixed and variable materials handling using direct labor hours as the measure of volume.
(2) Determine the fixed and variable materials handling cost by the method of least squares using direct labor hours as the measure of volume.
Answer:
1. Variable cost = $0.10, fixed cost = $1.2
2. Variable cost = $0.10, fixed cost = $1.2
Explanation:
This question simply wants us to solve for variable cost and fixed cost using two different methods
1. Variable cost = (y2 - y1)/x1-x2
Y2 is the cost of at the highest level of activity = $2
Y1 is cost at lowest level of activity = $1.6
X2 = highest level of direct labor = 8
X1 = lowest level of labor = 4
V = variable cost = 2-1.6/8-4
= 0.4/4 = $0.1
Fixed cost = y2 - V*x2
= 2 - (0.1*8)
= $1.2
So the fixed cost here is $1.2 and variable cost is $0.10
2.
This requires us to solve using the least squares method. We first create a table as shown in the attachment and then solve for variable cost and fixed cost.
n = 5, xy = 55, x = 30, y = 9
We solve for a and b
b = 5x55-30x9/5x190-30²
= 275-270/950-900
= 5/50
= $0.10 this is the variable cost
a = 9-0.1(30)/5
= 6/5
= $1.2 this is the fixed cost
So using both methods in 1 and 2
Fixed cost = $1.2, variable cost = $0.10
Merchandise inventory includes:__________
a. costs to purchase
b. costs to sell
c. shipping costs
d. costs to prepare for sale
e. cost of goods sold
Answer:
a. costs to purchase
c. shipping costs
d. costs to prepare for sale
Explanation:
Merchandise inventory is a commodity offered for sale. It is the cost of goods that is readily available at hand which is ready for sale From the options; the Merchandise inventory includes: costs to purchase, shipping costs and costs to prepare for sale.
The remaining options are addressed in the income statement.
To make the lightest bikes possible, Trek had to locate suppliers that could produce the highest quality aluminum on Earth. Prior to the purchase, Trek purchasing agents updated the specifications for the aluminum purchase and sent the specifications to various aluminum suppliers. This purchase for aluminum is a(n) ________ for Trek.
Answer:
Soft product
Explanation:
The purchase of aluminum is modified rebuy for trek.
Modified rebuy:Since Trek has done the changes to the specifications of the Aluminum prior ordering from the supplier, so it is a modified rebuy. In the case when Trek purchase Aluminum for the first time from the supplier, it would be considered a new buy or an initial buy. Also, the order is not repeated without any changes, it is not a straight rebuy.
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Guest rooms in upscale hotels during the period 1900-1950 were actually smaller than the standard sized room found in the economy class hotel of today. true or false
answer is false
Explanation:
I had that question it was false if not correct me please
Guest rooms in upscale hotels during the period 1900-1950 were actually smaller than the standard sized room found in the economy class hotel of today. True.
What is a guest room?
A guest house is a kind of lodging. In some parts of the world guest houses are a type of inexpensive hotel-like lodging.
What is period 1900-1950?The 20th century was dominated by significant events that defined the modern era such as Spanish flu pandemic, World War I and World War II, nuclear weapons, nuclear power and space exploration, nationalism and decolonization, technological advances, and the Cold War and post-Cold War conflicts.
What is the economy class?Economy class, also called third class, coach class, steerage, or to distinguish it from the slightly more expensive premium economy class, standard economy.
To learn more about economy class and period 1900-1950 refer
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What are three faMarquet is relocating to an area where she will be attending college. She finds a townhome with an option to rent or buy. The conditions of each are shown below.
Rent: Move-in cost of $1,350 and monthly payment of $795.
Buy: Move-in cost of $8,235 and monthly payments of $750.
Marquet plans to stay in the area for the 5 years it will take her to get a graduate degree, so she decides to buy. Choose the best evaluation of Marquet’s decision.
a.
Since the costs would be the same over the 5 year period, she will have made a good decision if the property value does not decrease.
b.
She made a fairly good decision. Buying the townhome will be cheaper over the 5 year period as long as she doesn’t have major repairs to make.
c.
She made a poor decision if the property value does not increase. Renting the townhome would be cheaper over the 5 year period.
d.
There is not enough information given to determine which option is best.
Please select the best answer from the choices providedctors to consider when deciding if you are ready for home ownership?
Answer:
C. She made a poor decision if the property value does not increase. Renting the townhome would be cheaper over the 5 year period.
