The expenses that would be denied as entertainment and would not be deductible is, “The manager took clients to lunches at a restaurant costing $5,800.” Therefore, option D is the correct option.
What are expenses?Expenses are the expenditures a person or an organization makes in order to fulfill either their needs and requirements or their luxuries. The expenses generally occur from income or savings. The expenses should be aligned with the amount of income and the savings of the individual in order to maintain healthy financial health. More expenses than income can cause financial burdens or debts.
The manager brought clients to lunches at a restaurant that cost $5,800; these costs would be disallowed as entertainment and not deductible. As a result, choice D is the best one.
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You manage a risky portfolio with an expected rate of return of 20% and a standard deviation of 36%. The T-bill rate is 5%.Your client chooses to invest 60% of a portfolio in your fund and 40% in an essentially risk-free money market fund. What are the expected return and standard deviation of the rate of return on his portfolio? (Do not round intermediate calculations. Round "Standard deviation" to 2 decimal places.)
Answer and Explanation:
The computation of the expected rate of return and the standard deviation is shown below;
The Expected Rate of Return is
= Weighted × expected rate of return + weighted × t-bill rate
= 0.60 × 20 + 0.40 × 5
= 14%
And,
The Standard Deviation is
= Weighted × standard deviation + weighted × 0
= 0.60 × 36 + 0.40 × 0
= 21.60%
Indigo Corporation wants to transfer cash of $150,000 or property worth $150,000 to one of its shareholders, Linda, in a redemption transaction that will be treated as a qualifying stock redemption. If Indigo distributes property, the corporation will choose between two assets that are each worth $150,000 and are no longer needed in its business: Property A (basis of $75,000) and Property B (basis of $195,000). a. Compute Indigo's recognized gain or loss if it distributes Property A in redemption of Linda's shares.
Answer:
$75,000 recognised gain
Explanation:
Indigo corporation wants to transfer $150,000 in cash or property to one of its shareholders Linda
Property A has a basis of $75,000
Property B has a basis of $195,000
Therefore the recognized gain or loss of property A is distributed in redemption of Linda's share can be calculated as follows
= fair market value - basis
= $150,000-$75,000
= $75,000 recognised gain
Hence indigo's recognised gain if it distributes property A in redemption of Linda's share is $75,000
Problem solving 1:
Ali makes and sells natural soap out of his home. He charges 35 dhs per soap. For each soap he makes, he
must spend 10 dhs. This month he made and sold 50 soaps. What is Ali's total PROFIT?
SOLVE THE PROBLEM AND SHOW THE STEPS HOW YOU CALCULATE THE PROFIT:
WRITE THE FORMULA.
Answer:
1250 dhs
Explanation:
First, find the profit for each soap.
35 - 10 = 25
Since now you know the profit for each soap, and how much soap he sells. you can find out the profit altogether.
50 x 25 = 1250
____________________________________________
Steps explained.
For the first step, since he spends 10 dhs, and charges 35 dhs, find the profit by subtracting 35 and 10.
For the second step, i took 50 times 25 since there is 50 soaps sold and 25 dhs profited.
Milano Co. manufactures and sells three products: product 1, product 2, and product 3. Their unit selling prices are product 1, $40; product 2, $30; and product 3, $20. The per unit variable costs to manufacture and sell these products are product 1, $30; product 2, $15; and product 3, $8. Their sales mix is reflected in a ratio of 6:4:2. Annual fixed costs shared by all three products are $270,000. One type of raw material has been used to manufacture products 1 and 2. The company has developed a new material of equal quality for less cost. The new material would reduce variable costs per unit as follows: product 1 by $10 and product 2 by $5. However, the new material requires new equipment, which will increase annual fixed costs by $50,000. If the company continues to use the old material, determine its break-even point in both sales units and sales dollars of each individual product. If the company uses the new material, determine its new break-even point in both sales units and sales dollars of each individual product. (Round to the next whole unit.) What insight does this analysis offer management for long-term planning? Please explain your work in detail and provide in-text citations. At least 5 references are required among which one should be the textbook as source of the data. Include the initial situation and initial assumptions in your answer.
Answer:
1. break even number in units = $270,000 / $12 = 22,500
product 1 units = 22,500 x 6/12 = 11,250 units
total sales = 11,250 x $40 = $450,00 0
product 2 units = 22,500 x 4/12 = 7,500 units
total sales = 7,500 x $30 = $225,000
product 3 units = 22,500 x 2/12 = 3,750 units
total sales = 3,750 x $20 = $75,000
total sales = $750,000
2. break even number in units = $320,000 / $18.67 = 17,139.8 units
product 1 units = 17,139.8 x 6/12 = 8,569.9 ≈ 8,567 units
total sales = 8,567 x $40 = $342,680
product 2 units = 17,139.8 x 4/12 = 5,713.27 ≈ 5,714 units
total sales = 5,714 x $30 = $171,420
product 3 units = 17,139.8 x 2/12 = 2,856.63 ≈ 2,857 units
total sales = 2,857 x $20 = $57,140
total sales = $571,240
c. Management should start using the new material as soon as possible since it doesn't only decrease the break even point, if sales level remain the same, it will increase operating profits.
Explanation:
product 1's contribution margin = $10
product 2's contribution margin = $15
product 3's contribution margin = $12
sales mix = 6:4:2
weighted contribution margin = ($10 x 6/12) + ($15 x 4/12) + ($12 x 2/12) = $5 + $5 + $2 = $12
new contribution margin:
product 1's contribution margin = $20
product 2's contribution margin = $20
product 3's contribution margin = $12
sales mix = 6:4:2
weighted contribution margin = ($20 x 6/12) + ($20 x 4/12) + ($12 x 2/12) = $10 + $6.67 + $2 = $18.67
The answers to the given questions are as follows:
a). $ 7.50,000
b). $571,240
c). The management should employ new material immediately.
Find the total salesa). Given that,
Number of break-even units = Annual fixed cost/number of months
= $270,000/12
= $ 22,500
Now, we will find the units of all three products to determine the total sales.
No. of units of product 1 = 22,500 x 6/12
= 11,250 units
No. of units of product 2 = 22,500 x 4/12
= 7,500 units
No. of units of product 3 = 22,500 x 2/12
= 3,750 units
We have the prices of products 1, 2, and 3 as $40, $30, and $20 respectively.
Using this,
We can find the total sales = 11,250 × $40 + 7,500 × $30 + 3,750 × $20
= 4,50,000 + 2,25,000 + 75000
= $ 7,50,000
b). Similarly,
Given that,
Number of break-even units = Annual fixed cost/new contribution margin
= $320,000 / $18.67
= 17,139.8 units
Now, we will find the units of all three products to determine the total sales.
No. of units of product 1 = 17,139.8 units x 6/12
= 8,567 units
No. of units of product 2 = 17,139.8 units x 4/12
= 5,714 units
No. of units of product 3 = 17,139.8 units x 2/12
= 2,857 units
We have the prices of products 1, 2, and 3 as $40, $30, and $20 respectively.
Using this,
We can find the total sales = 8,567 × $40 + 5,714 × $30 + 2,857 × $20
= $342,680 + $171,420 + $57,140
= $571,240
C). The firm is required to employ the new material with immediate response for increasing profit and decreasing break-even points.
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Hawk Corporation purchased 1,000 Diamond Corporation bonds in 2015 for $500 per bond and classified the investment as securities available for sale. The value of the Diamond investment was $600 per bond on December 31, 2016, and $650 on December 31, 2017. During 2018, Hawk sold all of its Diamond investment at $700 per bond.If Hawk records unrealized holding gains and losses up to the moment of sale, what would be the amount of reclassification adjustment that Hawk would record upon sale?A) A debit of $50,000.B) A debit of $150,000.C) A debit of $200,000.D) A credit of $150,000.
Answer: C) A debit of $200,000.
Explanation:
In 2018, Hawk sold all the Diamond Investment bonds at $700.
The amount of reclassification adjustment would be;
= Sales price - original purchase price
= (1,000 * 700) - (1,000 * 500)
= $200,000
The amount should be debited to reverse the gains recorded over the other years.
Goddard Company has used the FIFO method of inventory valuation since it began operations in 2018. Goddard decided to change to the average cost method for determining inventory costs at the beginning of 2021. The following schedule shows year-end inventory balances under the FIFO and average cost methods: Year FIFO Average Cost 2018 $ 45,700 $ 55,400 2019 80,100 71,700 2020 85,800 80,100 Required: 1. Ignoring income taxes, prepare the 2021 journal entry to adjust the accounts to reflect the average cost method. 2. How much higher or lower would cost of goods sold be in the 2020 revised income statement
Answer:
1. Adjusting to Average Cost
DR Retained Earnings ........................................................$5,700
CR Inventory .......................................................................................$5,700
Working
Inventory = FIFO Ending Inventory 2020 - FIFO Ending Inventory 2019
= 85,800 - 80,100
= $5,700
2. The beginning inventory for 2020 will be lower by;
= 2019 FIFO Inventory - 2019 Average Cost inventory
= 80,100 - 71,700
= $8,400
The ending inventory will be lower by;
= 2020 FIFO Inventory - 2020 Average Cost inventory
= 85,800 - 80,100
= $5,700
Cost of Goods sold = Beginning inventory + purchases - ending inventory
= -8,400 - (-5,700)
= $2,700
Cost of Goods sold in 2020 income statement will be $2,700 lower.
25. When you have disequilibrium, there are two possible outcomes. Identify and describe both of them.
Caroline is retired and receives income from a number of sources. the payments are from bonds that Caroline purchased over past years and disability insurance policy that Caroline purchased.
Calculate her incomeDistributions from qualified pension plan $5400Interest on binds issued by City of Austin, Texas $2500Social Security benefits $8200Interest on US Treasury Bills $2300Interest on bonds issued by Ford Motor Company $1900Interest on bonds issued by City of Quebec, Canada $2750Disability insurance $9500
Answer:
Answer:
Caroline Income/Taxable Income = $12,350
Explanation:
Income/Taxable Income means all income from whatever source derived, unless excluded by law. It can also be called Gross Income. Gross Income includes income realized in any form, whether in money, property or services
Calculation of Caroline Income/Taxable Income
Distributions from qualified pension plan $5,400
Interest on US Treasury Bills $2,300
Interest on bonds issued by $1,900
Ford Motor Company
Interest on bonds issued by City of $2,750
Quebec, Canada
Total $12,350
Ryan exchanged a car that he used in his business for the past 3 years for a new truck with a FMV of $25,000. This transaction took place at the end of the year. The adjusted basis of the car was $8,000 at the beginning of the year of disposition. Ryan paid $4,000 cash and assumed a note payable of $10,000 to be paid in $2,000 increments over the next 5 years. Ryan’s depreciation on the car for the year of disposition was $2,500. What is the gain (loss) recognized on the transaction?
Answer:
The gain on the transaction is $5,500
Explanation:
Gain on Transaction = Fair Value of Truck - Cash Paid - Note Payable - carrying value of car exchanged
= $25,000 - $4,000 - $10,000 - ( $8,000 - $2,500)
= $25,000 - $4,000 - $10,000 - $5,500
= $5,500 Gain
The sentences in the following paragraph have been purposely placed in the wrong order. Examine key terms and transitional devices, and then rearrange the sentences so that the paragraph moves smoothly and logically from one sentence to the next. Indicate the correct order of the sentences by placing the sentence numbers in the order in which the sentences should appear. Briefly explain why you chose that particular order.
1) If such improvements could be achieved, the consequences would be significant for many different applications.
2) However, the most challenging technical problem is to achieve substantial increases in the quantities of electrical energy that can be stored per unit weight of the battery.
3) The overall process yields about 70% of the electricity originally put into the battery.
4) A storage battery is a relatively efficient way of storing energy.
Answer:
the order in which the sentences should appear is 4, 2, 3, 1
Explanation:
That means that the correct order should be;
"A storage battery is a relatively efficient way of storing energy.
However, the most challenging technical problem is to achieve substantial increases in the quantities of electrical energy that can be stored per unit weight of the battery.
The overall process yields about 70% of the electricity originally put into the battery.
If such improvements could be achieved, the consequences would be significant for many different applications."
Choosing this particular order allows the reader to easily understand;
what the object (storage battery ) is?the improvements the object needs? and the importance or consequences of such improvements?EasyFind manufactures and sells golf balls. The company is conducting a price test to find a better price point. Presently their golf balls sell for $22 per dozen. Their current volume is 5,930 dozen per month. They are considering reducing their sales price by 29% per dozen. If variable costs are $10 per dozen, what is the new volume required to earn the same total contribution as before the price decrease
Answer:
10,094= units
Explanation:
First, we need to calculate the current contribution margin:
Current contribution margin= 5,930*(22 - 10)= $71,160
Now, we will determine the new sales price and number of units to sell:
Selling price= 22/1.29= $17.05
71,160= units*(17.05 - 10)
71,160/7.05= units
10,094= units
Read the following paragraph and its possible revisions. Then choose the revision that has the best paragraph coherence and that most accurately supports the original paragraph.Communication with the public and employees should be overseen by the director of PR. The duties of the crisis team should be divided according to each member’s area of expertise. Since communicating accurate information is critical, you will need to assign specific members to interface with your own employees and public-safety agencies. If your company does not have a public relations executive, this job should be handled by the head of marketing or human resources. Furthermore, all members of your crisis team should receive training in crisis communication.1. Communication with the public and employees should be overseen by the director of PR. The duties of the crisis team should be divided according to each member’s area of expertise. Since communicating accurate information is critical, you will need to assign specific members to interface with your own employees and public-safety agencies. If your company does not have a public relations executive, this job should be handled by the head of marketing or human resources. Furthermore, all members of your crisis team should receive training in crisis communication.2. All members of your crisis team should receive training in crisis communication, and the duties of the crisis team should be divided according to each member’s area of expertise. Since communicating accurate information is critical, you will need to assign specific members to interface with your own employees and public-safety agencies. Communication with the public and employees should be overseen by the director of PR. If your company does not have a public relations executive, this job should be handled by the head of marketing or human resources.3. The duties of the crisis team should be divided according to each member’s area of expertise. Since communicating accurate information is critical, you will need to assign specific members to interface with your own employees and public-safety agencies. Communication with the public and employees should be overseen by the director of PR. If your company does not have a public relations executive, this job should be handled by the head of marketing or human resources. Nevertheless, all members of your crisis team should receive training in crisis communication.The best revision of the original paragraph is: .Select the most appropriate transitions to promote paragraph coherence in the paragraphs that follow.Effective business messages are well organized and context appropriate; , your first step in crafting effective messages is appropriate planning. You should begin planning by conducting a situational analysis. , you should gather all appropriate and relevant data or information. The amount of research you conduct will be determined by the purpose and scope of the message. , you should develop an outline for your message. , you are ready to begin writing. You may have to write several drafts before you finish your message. Don’t be afraid to rewrite multiple times. , spending a little extra time on the planning and drafting process is always wise.Shorter paragraphs are more readable and inviting to business audiences. Answer the following question about paragraph length.Which one of the following techniques will help you control the length of your paragraphs?A) Develop shorter sentences.B) Limit the use of bullets and lists.C) Break large topics into smaller segments.
Answer:
1. 3. The duties of the crisis team should be divided according to each member’s area of expertise. Since communicating accurate information is critical, you will need to assign specific members to interface with your own employees and public-safety agencies. Communication with the public and employees should be overseen by the director of PR. If your company does not have a public relations executive, this job should be handled by the head of marketing or human resources. Nevertheless, all members of your crisis team should receive training in crisis communication.
- The first sentence here needs to stand alone unlike in option 2. Option 1 is just a repeat of the original paragraph so is not a revision and does not count.
2. Effective business messages are well organized and context appropriate; therefore, your first step in crafting effective messages is appropriate planning.
You should begin planning by conducting a situational analysis. Following this, you should gather all appropriate and relevant data or information. The amount of research you conduct will be determined by the purpose and scope of the message.
After completing these two steps, you should develop an outline for your message. Finally , you are ready to begin writing. You may have to write several drafts before you finish your message. Don’t be afraid to rewrite multiple times.
Since the most effective (successful) messages are well crafted, spending a little extra time on the planning and drafting process is always wise.
3. C) Break large topics into smaller segments.
By breaking large topics into small segments, each segment can then be explained in its own paragraph which will limit the length of paragraphs unlike if you had to talk about one larger topic in one paragraph.
In the Vasquez Corporation, any overapplied or underapplied manufacturing overhead is closed out to Cost of Goods Sold. Last year, the Corporation incurred $27,000 in actual manufacturing overhead cost, and applied $29,000 of manufacturing overhead cost to jobs. The beginning and ending balances of Finished Goods were equal, and the Corporation's Cost of Goods Manufactured for the year totaled $71,000. Given this information, Cost of Goods Sold, after adjustment for any overapplied or underapplied manufacturing overhead, for the year must have been: Multiple Choice $98,000 $73,000 $71,000 $69,000
Answer:
$69,000
Explanation:
Calculation for overapplied or underapplied manufacturing overhead
Using this method
Manufacturing overhead=Cost of Goods Manufactured-( Actualmanufacturing overhead cost-Applied manufacturing overhead cost to job)
Let plug in the formula
Manufacturing overhead=71,000-(27,000-29,0000)
Manufacturing overhead=71,000-2,000
Manufacturing overhead=$69,000 overapplied
Therefore Manufacturing overhead for the year will be $69,000 overapplied
A person works as a cashier in a major supermarket. She sells vegetables to
customers, including local restaurants that use these ingredients to make
meals for their customers. The supermarket pays the cashier wages for her
work, which she uses to buy her own groceries and pay bills.
The cashier in the passage is part of which element in the circular flow of
goods?
A. Business
B. Resource market
C. Household
D. Product market
The cashier in the passage is part of resource market in the circular flow of
goods. This can be further explained as follows:
In a nation's circular flow, the market in which families provide enterprises with the factors of production (land, labor, and capital) in exchange for money revenues (rent, wages and interest). In the resource market, firms are the buyers and households are the sellers. The cashier receives wages which he spends on the daily resource needs.
Therefore, it can be said that the cashier is a part of resource market.
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If incomes rise, and hot dogs are an inferior good, then we would expect the price of hot dogs to rise true kr false
match the jobs with the academic requirements.
Answer:
lifegaurd- the first one
college facutly member- second one
chamber of commerce officer- third one
firefighter- the last one
Answer:
a. the training program and certification in cardiopulmonary resuscitation in first aid.
b. a bachelor's degree in business and experience.
c. a high school diploma and training
d. a Masters or doctoral program
Explanation:
Ryan Olson organized a new company, MeToo, Inc. The company provides networking management services on social network sites. You have been hired to record the following transactions.
a. May 1: Issued 1,050 shares of common stock to investors for $30 per share.
b. May 15: Borrowed $48,000 from the bank to provide additional funding to begin operations; the note is due in two years.
c. May 31: Paid $3,900 for a one-year fire insurance policy with coverage starting June 1.
TIP: For convenience, simply record the full amount of the payment as an asset (Prepaid Insurance).
At the end of June, this account will be adjusted to its proper balance.
d. June 3: Purchased furniture for the store for $31,800 on account. The amount is due within 30 days.
e. June 5: Placed advertisements in local college newspapers today for a total of $260 cash.
f. June 9: Provided services for $685 cash.
g. June 14: Made full payment for the furniture purchased on account on June 3.
Answer:
Ryan Olson
General Journal
a.
Cash $31,500 (debit)
Common Stock $31,500 (credit)
Received Cash in Exchange of Common Stock
b.
Cash $48,000 (debit)
Note Payable $48,000 (credit)
Received Cash from Bank Loan
c.
Prepaid Insurance $3,900 (debit)
Cash $3,900 (credit)
Paid Fire Insurance Policy in advance
d.
Furniture $31,800 (debit)
Account Payable $31,800 (credit)
Purchased Furniture on credit
e.
Advertising Expense $260(debit)
Cash $260 (credit)
Paid Advertising Expenses
f.
Cash $685 (debit)
Service Revenue $685 (credit)
Received Cash from Service Rendered
g.
Account Payable $31,800 (debit)
Cash $31,800 (credit)
Made Payment to Furniture Supplier
Explanation:
See the Journal Entries and Narrations that prepared above.
Frank has just completed a study in which he gave a survey to each of 7,000 employees and their supervisors in a large bank. His results show that job satisfaction (as evaluated by employees) was positively and significantly correlated with task performance (as evaluated by supervisors). The correlation was .54. Frank says that his results prove that job satisfaction causes task performance. Is he correct
Answer:
The declaration is mostly accurate or correct.
Explanation:
Task success can be induced by work satisfaction. But that could also be accurate the opposite way round, i.e. work success affects employee satisfaction. The inference reached here does not specify which incident seems to be the reason and which one is the trigger's consequence. A significant direct connection between the two can not be identified. Other than that, there could be other variables that may control the two variables.A useful approach for understanding a client's business environment and associated business risks is to perform a PESTLE analysis. PESTLE is an acronym for Political, Economic, Social,Technological, Legal and Environmental factors that are used to assess the client's business environment. A PESTLE analysis focuses on factors that may affect an entity's business model, but are beyond the control or influence of the client. While beyond management's direct influence, such factors may significantly impact an entity's business risk. Read the background information about the poultry industry and conduct additional research on the intemet to obtain the latest news and information on the industry. Brainstorm political, economic, social, technological, legal and environmental factors that could affect Asher Farms' business risk. Unless your instructor indicates otherwise, identify at least one business risk factor for each component of the PESTLE acron
Answer:
Business ricks factors for Poultry industry using PESTEL:
Political : Government imposes ban on hormone injections and artificial feeds.
Economic: Demand is high but supply is insufficient causing rise in prices.
Social: People taste changes and they are switched to beef.
Technological: Genetic manufacturing of eggs incurs high cost.
Environmental: Poultry industry creates smell pollution which can affect nearby societies.
Legal: Contract issues and termination of contract can cause industry failure.
Explanation:
PESTEL analysis is widely used in the business to identify the associated risks with the operations. In the pestel analysis all factors are analyzed in detail. Political, economic, social, technological, environmental and legal factors are analyzed in detail and risks associated with these factors are identified to improve business strategies.
Read the Original Text and Paraphrased Text below:Original Text (found on page 3 of a book by Edward Orr):When teaching world religions in the classroom, it is helpful to introduce artworks that are representative of each religion. This allows the teacher to address each religion on neutral ground, thus avoiding indoctrination.Paraphrase:Orr suggests that teachers use sacred objects of art as vehicles to teach world religions in our schools. Doing so can help the teacher to present each religion objectively (3).Which of the following statements about the above paraphrase is correct?A) The paraphrase skews the meaning intended by the author of the original document.B) Quotation marks need to be used.C) The wording is too close to the original.
D) Nothing is wrong with the paraphrasing.
Answer:
D) Nothing is wrong with the paraphrasing
Explanation:
We can reach this conclusion because the paraphrasing indeed reduces the length of the original text and yet still covey's the original message clearly, while also obeying the rules of grammar and writing.
For example, Edward Orr is directly mentioned as the source of the suggestion giving clear insight into who is speaking.
Journalize the following transactions for Lewis Company using the gross method of accounting for sales discounts. Assume a perpetual inventory system. Also, assume a constant gross profit ratio for all items sold. Make sure to enter the day for each separate transaction. August 10 Sold goods costing $5,160 to Henderson Company on account, $8,600, terms 4/10, n/30. August 16 Henderson Company was granted an allowance of $2,150 for returned merchandise that was previously purchased on account. The returned goods are damaged and have no scrap value. August 20 Received the amount due from Henderson Company.
Required:
prepare journal entry.
Answer and Explanation:
The Journal entry is shown below:-
1. Accounts receivable Dr, $8,600
To Sales $8,600
(Being sales made is recorded)
2. Cost of goods sold Dr,$5,160
To Merchandise inventory $5,160
(Being cost of goods sold is recorded)
3. Sales return and allowances Dr, $2,150
To Accounts receivable $2,150
(Being return of the merchandise is recorded)
4. Merchandise inventory Dr, $1,290 ($2,150 × $5,160 ÷ $8,600)
To Cost of goods sold $1,290
(Being cost of merchandise returned is recorded)
5. Cash Dr, $6,450 ($8,600 - $2,150)
To Accounts receivable $6,450
(Being receipt of cash iks recorded)
Kapanga Manufacturing Corporation uses a job-order costing system and started the month of October with a zero balance in its work in process and finished goods inventory accounts. During October, Kapanga worked on three jobs and incurred the following direct costs on those jobs: Job B18 Job B19 Job C11 Direct materials $ 12,000 $ 25,000 $ 18,000 Direct labor $ 8,000 $ 10,000 $ 5,000 Kapanga applies manufacturing overhead at a rate of 150% of direct labor cost. During October, Kapanga completed Jobs B18 and B19 and sold Job B19. What is Kapanga's work in process inventory balance at the end of October?
Answer:
$30,500
Explanation:
The computation of Kapanga's work in process inventory balance at the end of October is shown below:-
Variable Overheads = 150% × $5,000
= $75,000
So,
Work In Process = Direct Material + Direct Labor + Variable Overheads
= $ 18,000 + $ 5,000 + $ 7,500 = $ 30,5000
= $30,500
So, we have applied the above formula.
Select the best answer for the question.
9. Which of the following examples illustrates a manager with emotional intelligence?
O A. Vince has the ability to manage his followers' reactions.
O B. Christina can identify her team members' strengths and weaknesses.
O C. Nina can exercise self-control.
O D. Amanda can maintain the status quo.
Nina can exercise self-control illustrating a manager with emotional intelligence. Thus, option C is correct.
The most effective managers work hard to acquire the abilities that will enable them to lead well. You may take the required action to maximize your own potential by looking at the set of traits that all effective managers have.
It's crucial to be able to communicate your ideas clearly and succinctly so that everyone on the team is aware of what is expected of them. Being able to listen to constructive criticism, address problems, and resolve conflicts is equally crucial. The language that good managers use is carefully chosen to prevent misunderstandings. All effective managers share a strong work ethic that values exerting effort and giving your best effort.
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Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead $ 157,150 Estimated machine-hours 4,520 Actual manufacturing overhead $ 156,200 Actual machine-hours 4,620 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year. The applied manufacturing overhead for the year is closest to:
Answer:
$160,637.40
Explanation:
Calculation for the applied manufacturing overhead for the year
First step is to find the Predetermined overhead rate using this formula
Predetermined overhead rate=Estimated manufacturing overhead÷Estimated machine-hours
Let plug in formula
Predetermined overhead rate=157,150÷4,520
Predetermined overhead rate= 34.77
Last step is to calculate for the Applied Manufacturing overhead for the year using this formula
Applied manufacturing overhead for the year = Actual machine-hours*Predetermined overhead rate
Let plug in the formula
Applied manufacturing overhead for the year=
4,620*34.77
Applied manufacturing overhead for the year=$160,637.40
Therefore the applied manufacturing overhead for the year is closest to:$160,637.40
Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its predetermined overhead rate for the current year on the following data: Total direct labor-hours 101,000 Total fixed manufacturing overhead cost $ 595,900 Variable manufacturing overhead per direct labor-hour $ 3.00 Recently, Job P951 was completed with the following characteristics: Number of units in the job 25 Total direct labor-hours 100 Direct materials $ 840 Direct labor cost $ 10,100 The unit product cost for Job P951 is closest to: (Round your intermediate calculations to 2 decimal places.)
Community centers, libraries or churches are all places that
a. Lend books to students
C. Do not offer tutoring
b. May offer tutoring
d. All of the above
Answer:
The answer is "Option b".
Explanation:
In the centers are public sites, in which members of the community appear together to collect for group activities, social service, publicly available, as well as other uses and they, are often open to the entire community or even a specialist group within the wider community, that's its museums or temples are places where tutoring may take place.
Answer:
B.
Explanation:
Corporate headquarters building lease $ 77,000 Cosmetics Department sales commissions--Northridge Store $ 4,000 Corporate legal office salaries $ 59,000 Store manager's salary-Northridge Store $ 11,000 Heating-Northridge Store $ 10,000 Cosmetics Department cost of sales--Northridge Store $ 37,000 Central warehouse lease cost $ 16,000 Store security-Northridge Store $ 12,000 Cosmetics Department manager's salary--Northridge Store $ 4,000 The Northridge Store is just one of many stores owned and operated by the company. The Cosmetics Department is one of many departments at the Northridge Store. The central warehouse serves all of the company's stores. What is the total amount of the costs listed above that are direct costs of the Cosmetics Department?
Answer: $45,000
Explanation:
Direct costs are those that can be traced and attributed to the product being sold or manufactured by the company. They usually include direct labor and direct materials.
As this is a Cosmetics department, the direct labor will be the Department's manager's salary and the Sales commissions.
The Cost of sales will also be a direct cost as they were incurred to sell the product.
Direct Costs = Cosmetics Department manager's salary + Cosmetics Department sales commissions + Cosmetics Department cost of sales
= 4,000 + 4,000 + 37,000
= $45,000
Became aware of poor tire performance.Became aware of poor tire performance. Open choices for matching3 Defined off-road performance specifications and sizes of tires needed. Defined off-road performance specifications and sizes of tires needed. Open choices for matching Invited vendors to bid via website. Invited vendors to bid via website. Open choices for matching Narrowed to three vendors, then chose Goodyear. Narrowed to three vendors, then chose Goodyear. Open choices for matching Specified number of tires needed and delivery schedule. Specified number of tires needed and delivery schedule. Open choices for matching Awarded scores to Goodyear on key issues.
Attached is the full question.
Explanation:
1. Need Recognition = Became aware of poor tire performance
2. Product Specification = Defined off-road performance specifications and sizes of tires needed.
3. RFP Process = Invited vendors to bid via website.
4. Proposal Analysis, Negotiation, Selection =
Awarded scores to Goodyear on key issues.Narrowed to three vendors, then chose Goodyear.5. Order Specification = Specified number of tires needed and delivery schedule.
6. Vendor Performance Assessment. This step is usually done after the vendor has done the task. It may also be called a post-performance assessment.
When Alfred Nobel died, he left the majority of his estate to fund five prizes, each to be awarded annually in perpetuity starting one year after he died (the sixth one, in economics, was added later). a. If he wanted the cash award of each of the five prizes to be $ and his estate could earn % per year, how much would he need to fund his prizes? b. If he wanted the value of each prize to grow by % per year (perhaps to keep up with inflation), how much would he need to leave? Assume that the first amount was still $. c. His heirs were surprised by his will and fought it. If they had been able to keep the amount of money you calculated in (b), and had invested it at % per year, how much would they have in 2014, 118 years after his death?
Answer:
the numbers are missing, so I looked for similar questions:
When Alfred Nobel died, he left the majority of his estate to fund five prizes, each to be awarded annually in perpetuity starting one year after he died (the sixth one, in economics, was added later). a. If he wanted the cash award of each of the five prizes to be $33,000 and his estate could earn 7% per year, how much would he need to fund his prizes? b. If he wanted the value of each prize to grow by 6% per year (perhaps to keep up with inflation), how much would he need to leave? Assume that the first amount was still $33,000 c. His heirs were surprised by his will and fought it. If they had been able to keep the amount of money you calculated in (b), and had invested it at 7% per year, how much would they have in 2014, 118 years after his death?
a) total amount of prizes = $33,000 x 5 = $165,000
using the perpetuity formula, present value = annual payment / discount rate
money needed in trust fund = $165,000 / 0.07 = $2,357,142.86
b) we need to use the growing perpetuity formula:
money needed in trust fund = $165,000 / (0.07 - 0.06) = $165,000 / 0.01 = $16,500,000
c) future value = present value x (1 + r) = $16,500,000 x (1 + 7%)¹¹⁴ = $36,917.7 million
Prepare adjusting journal entries, as needed, for the following items.
A. The Supplies account shows a balance of $550, but a count of supplies reveals only $200 on hand at year-end.
B. The company initially records the payments of all insurance premiums as prepaid insurance. The unadjusted trial balance at year-end shows a balance of $590 in Prepaid Insurance. A review of insurance policies reveals that $160 of insurance is unexpired.
C. Employees work Monday through Friday, and salaries of $3,400 per week are paid each Friday. The company's year-end falls on Tuesday.
D. At year-end, the company received a utility bill for December's electricity usage of $250 that will be paid in early January.
Answer:
Explanation:
adjusting journal entry in accounting is usually prepared at the end of the period of accounting. It is used to record income as well as expenditure at that particular period.
A.($550- $200)
Dr Supplies Expense 350
Cr To supplies 350
B.)Insurance expense = $130.
C.) Salary expense and salary payable = 3400 × 2 / 5 = $1360.
Dr Salaries expenses 1,360
Cr To prepaid expenses 1360
D.
The Untility Expenses in which the electricity is part of it both (Cr and Dr)= $250