1. Write a hierarchical list of Excel components by size, starting with cells as the smallest

component and workbooks as the largest component.

Answer:

Hierarchical List of Excel Components:

1. Cells

2. Navigation buttons

3. Sheet tabs

4. Formula bar

5. Name box

6. Row Headings

7. Column Headings

8. Toolbar

9. Menu bar

10. Title bar

11. Worksheet

12. Workbook

Explanation:

Microsoft Excel, which is traditionally the workbook of accounting, consists of worksheets (standard three, but you can add more, as required).  Each worksheet contains 256 columns and 65,536 rows.  The cell is the intersection of columns and rows, where texts and numbers are input.  Each cell is named after the combination of its column letter and the row number.

The following data from the just completed year are taken from the accounting records of Mason Company:

Sales $660,000
Direct labor cost $81,000
Raw material purchases $140,000
Selling expenses $103,000
Administrative expenses $43,000
Manufacturing overhead applied to work in process $201,000
Actual manufacturing overhead costs $225,000

Inventories Beginning of Year End of Year
Raw materials $8,500 $10,500
Work in process $6,000 $21,000
Finished goods $79,000 $25,600

Required:
a. Prepare a schedule of cost of goods manufactured.
b. Prepare a schedule of cost of goods sold.

Jefferson Company, a commercial painting contractor, uses a normal-costing system to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct labor) and one indirect-cost pool called overhead costs. To each job, Jefferson allocates overhead at a budgeted rate of 80% of direct labor costs.

Jefferson provides the additional information for February:

1. As of February 1, Job A21, the only job in process, had incurred direct material costs of $30,000 and direct labor costs of $50,000.

2. Jobs A22, A23, and A24 were started in February.

3. Direct materials used during February were $150,000.

4. Direct labor costs for February were $120,000.

5. Actual overhead costs for February were $102,000.

6. On February 28, Job A24 was the only job still in process, and it had incurred direct materials costs of $20,000 and direct labor costs of $40,000.

As each job is completed, its cost is transferred to the Cost of Jobs Billed account. Each month, Jefferson closes any under-or over-allocated overhead to Cost of Jobs Billed.

1. Give one example of a direct cost and one example of an overhead cost for a job undertaken by Jefferson Company.

2. Calculate the overhead allocated to Job A21 as of February 1.

3. Calculate the overhead allocated to Job A24 as of February 28.

4. Calculate the under- or overallocated overhead for February.

5. Calculate ending balance of jobs still in process as of February 28.

6. Compute the Cost of Jobs Billed for February.

Suppose that when the price of gasoline is $3.50 per gallon, the total amount of gasoline purchased in the United States is 6 million barrels per day. Also, suppose that when the price of gas decreases to $3 per gallon, the total amount of gasoline purchased is 8 million barrels per day. Based on these numbers and using the midpoint formula, the price elasticity of demand for gasoline is:

Mercedes-Benz runs a TV commercial advertisement that displays one of its top-of-the-line cars. As the driver pulls up to a valet, people turn their heads and stare at the car. Mercedes-Benz has effectively leveraged which need in Maslow’s hierarchy?

Macy Corporation's relevant range of activity is 8,400 units to 17,000 units. When it produces and sells 12,700 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 5.55 Direct labor $ 4.00 Variable manufacturing overhead $ 2.00 Fixed manufacturing overhead $ 3.60 Fixed selling expense $ 1.30 Fixed administrative expense $ 0.60 Sales commissions $ 1.25 Variable administrative expense $ 0.50 If the selling price is $32.50 per unit, the contribution margin per unit sold is closest to: Multiple Choice $19.20 $22.95 $11.55 $7.35

Management of Plascencia Corporation is considering whether to purchase a new model 370 machine costing $523,000 or a new model 220 machine costing $482,000 to replace a machine that was purchased 7 years ago for $518,000. The old machine was used to make product 143L until it broke down last week Unfortunately, the old machine cannot be repaired. Management has decided to buy the new model 220 machine. It has less capacity than the new model 370 machine, but its capacity is sufficient to continue making product 143L Management also considered, but rejected, the alternative of simply dropping product 143L. If that were done, instead of investing $340,000 in the new machine, the money could be invested in a project that would return a total of $497,000. In making the decision to buy the model 220 machine rather than the model 370 machine, the sunk cost was:
A. $518,000
B. $482,000
C. $523,000
D. $497000

Identify the correct order of the four steps used to prepare a production cost summary (report). 1)Summarize the cost flow of physical units; (2) Compute the total cost of equivalent units of production; (3) Compute the cost per equivalent unit of production; and (4) Assign costs to units completed and units in process. (1)Summarize the flow of physical units; (2) Compute the equivalent units of production output; (3) Assign costs to units completed and units in process; and (4) Compute the cost per equivalent unit of production. (1)Summarize the flow of physical units; (2) Compute the equivalent units of production output; (3) Compute the cost per equivalent unit of production; and (4) Assign costs to units completed and units in process. (1)Summarize the flow of physical units; (2) Compute the equivalent units of production output; (3) Compute the total cost of equivalent units of production; and (4) Assign costs to units completed and units in process.

For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GOP as part of consumption (C), investment (), government purchases (G), exports (X), or imports (M).

a. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
b. Sam's employer upgrades all of its computer systems using U.S-made parts.
c. Teresa's father in Sweden orders a bottle of Vermont maple syrup from the producer's website.
d. Sam buys a sweater made in Guatemala.
e. Teresa gets a new refrigerator made in the United States.

(a) Explain the quantity theory and
(b) how does the theory explains the cause of inflation​

One of the key decisions employers must make is the level of compensation provided to employees. Compensation is a significant cost, and employees are one of the most important assets of the organization. It is important that the organization makes and executes good strategic choices. To facilitate this process, many organizations think systematically about its job structures for compensation and pay levels for different jobs.
An organization's job structure consists of relative pay for different functions and different levels of responsibility. It defines, for example, the difference in pay between entry-level and management jobs, as well as different entry-level jobs in different departments, such as in production or accounting. Pay level is the average amount that an organization pays for a particular job and includes wages, salaries, and bonuses. Job structure and pay levels together form the pay structure, a policy that helps the organization achieve goals related to employee motivation, cost control, and the ability to attract and retain talented employees.
This activity is important because it will help you distinguish between the various factors that impact an organization’s pay structure. The goal of this activity is to classify decisions based on the factors used to establish a pay structure.
HR professionals develop pay structures for their organations based on such factors as legal requirements, company goals, and market forces. Drag each item into the appropriate column on the chart.
1. Equal pay for equal work
2. National compensation survey
3. Product markets
4. Benchmarking
5. Equitable pay rates
6. Child labor laws
7. Federal minum- wage laws
8. Overtime pay
9. Retention of talented staff
10. Trends in labor markets
11. Company cost centers
A. Legal Requirements
B. Organizational Goals
C. Market Forces

Each scenario below gives some information about price elasticity of demand for a firm. Use this information to answer the questions. Round answers to two places after the decimal where applicable. Honest Abe's Used Cars estimates the price elasticity of demand for their cars to be 4.60 . Last month, Abe tried a new marketing scheme which decreased the number of cars sold by 67 %.

Abe must have_________ prices. Therefore, Abe's total revenue ____________ Abe's prices must have changed by:________%
At Webs-R-Us, a website design company, the new manager has decided to increase the price of Webs-R-Us services by 45%.
If Webs-R-Us has a price elasticity of demand at 0.70, we can expected the number of websites designed to ___________

For each additional room in the house, we estimate the appraised value to increase $74,800. For a house with 0 rooms, we estimate the appraised value to be $74,800. For each additional room in the house, we estimate the appraised value to increase $17,800. For each additional dollar of appraised value, we estimate the number of rooms in the house to increase by 17.80 rooms.

explain the governance of internet​

You purchase a property with a Market Value of $520,000 in 2005 using 5-year Interest Only 90% Loan-to-Value financing. In 2010, the Market Value of the property drops to $460,000. You are considering refinancing. The Loan-to-Value you can get for refinancing is only 70%. How much Total Cash Out of Pocket would you need to have to go through with the refinancing and pay back the original loan Principal outstanding

You are researching Time Manufacturing and have found the following accounting statement of cash flows for the most recent year. You also know that the company paid $98 million in current taxes and had an interest expense of $48 million. Calculate the cash flows from assets and the cash flows to creditors and shareholders using the accounting information in the statement of cash flows.

Post Adjusting Entries Post all adjusting entries to the t-accounts and calculate ending balances. Post the transactions in the order they appear in the journal entries.
Date Accounts and Explanation Debit Credit
Dec. 31 Salaries Expense 4,400
Salaries Payable 4,400
Date Accounts and Explanation Debit Credit
Dec. 31 Depreciation Expense - Furniture 100
Accumulated Depreciation - Furniture 100
Date Accounts and Explanation Debit Credit
Dec. 31 Insurance Expense 300
Prepaid Insurance 300
Date Accounts and Explanation Debit Credi
Dec. 31 Supplies Expense 110
Office Supplies 110
Date Accounts and Explanation Debit Credit
Dec. 31 Unearned Revenue 200
Service Revenue 200
Date Accounts and Explanation Debit Credit
Dec. 31 Accounts Receivable 700
Service Revenue 700

JDI, Inc. is trying to decide whether ro make-or-buy a part (#J-45FPT). Purchasing the part would cost them $1.50 each. If they design and produce it themselves, it will result in a per unit cost of $0.75. However, the design investment would be $50,000. Further, they realize that for this type of part, there is a 30% chance that the part will need to be redesigned at an additional cost of $50,000. Regardless of whether they make-or-buy the part, JDI will need 100,000 of these parts. Using decision trees analysis and EMV, what should JDI do? Show the decision tree.

1. When distribution team members use replenishment reports to retrieve quantities of items to be sent to stores they are:
O A. Mixing
O B. Sending
O C.Packing
O D. Picking​

Presented below is information related to Metlock Corp. for the year 2020.
Net sales $1,274,000 Write-off of inventory due to obsolescence $78,400
Cost of goods sold 764,400 Depreciation expense omitted by accident in 2019 53,900
Selling expenses 63,700 Casualty loss 49,000
Administrative expenses 47,040 Cash dividends declared 44,100
Dividend revenue 19,600 Retained earnings at December 31, 2019 960,400
Interest revenue 6,860 Effective tax rate of 20% on all items
Prepare a multiple-step income statement for 2017. Assume that 62,370 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e.g. 1.49.)

Which of the following is NOT a way to help you with time
management during a meeting?

O Check the clock frequently
O Ask for help resolving issues
O Ask attendees to help keep track of time
O Follow-up on issue you can solve immediately

Megan Finder, a recent college graduate, is applying for her first credit card. The creditor has asked for a personal net worth statement. Megan owns a scooter worth $2,000.00 and has $800.00 in her checking account. She owes Jaycee Auto $920.00 and River College $125.00. Complete a net worth statement for Megan Finder. Select Current Date in the appropriate field. Assets should be listed in order of liquidity, so Cash should be listed first. Liabilities should be reported in alphabetic order.

Children are likely to carry on the economic tildes of there parents in a __?

A:mixed economy
B:command economy
C:traditional economy
D: market economy

A machine at a cost of $5,000 was purchased 3 years ago. It can be sold now for $3,000. If the machine is kept, the annual operating and maintenance costs will be $1,500. If it is kept and operated for next five years, determine the amount at time 0 (now) equivalent to the cost of owning and operating the machine for the next five-year period. It is anticipated that the machine can be sold for $1,000 at the end of the five-year period. Use an interest rate of 10%

In the FASB ASC, Sections are standardized across all Subtopics. For example, Section 20 will be the Glossary section in every Subtopic. Match the Section number with the appropriate description of the Section below. (Note: Not all Section numbers have been included, and not all of the descriptions will be used.)
- 05 - 25 - 30 - 35 - 50 - 65
A. Scope and Scope Exceptions
B. Recognition
C. Subsequent Measurement
D. Initial Measurement
E. XBRL Elements
F. Disclosure
G. Transition and Open Effective Date Information
H. Overview and Background
I. Implementation Guidance and Illustrations
J. Measurement

The Case: The hairdressing industry in Pakistan is flourishing day by day. There are certainly lots of hairdressers and each of the hairdressers has a slightly different type of skill. Some salons only cut, some only provide color services, some only do natural hair, some do all types, etc. Also, they have different premises situated in a different location where they provide the services. The prices offered by the hairdresser depend on the services offered by them and its uniqueness. If the particular hairdresser is known for providing the best services in the particular market then he can increase the prices of his services as he knows that consumers can pay slightly more amount of money for his superior services. There is relatively a low barrier for entry and exit for setting up a new hairdresser shop. Requirement: Read the above scenario and explain in which market structure ‘the hairdressing industry’ falls and how?

Freedom Company had 450,000 shares of common stock issued as of December 31, 2020. 350,000 had been issued and outstanding as of January 1, 2020 and 100,000 of which were issued on September 1, 2020. Net income for the year ended December 31, 2020, was $1,160,000. What should be Freedom Company's 2020 earnings per common share, rounded to the nearest penny

Imagine that your country takes in $100 million each year in tax money but chooses to spend $500 million on various services it provides. What type of stance does your country take on fiscal policy?

A.) expansionary stance
B.) contractionary stance
C.) economic stance
D.) neutral stance brainly

Amazon Company uses predetermined departmental overhead rates based on direct labor cost to apply manufacturing overhead to jobs. The predetermined overhead rate for Department A this year was 200% of direct labor cost. The predetermined overhead rate for Department B this year was 50% of direct labor cost. Job Delta, which used labor time in both departments, was charged with the following costs.
Dept A Dept B
Direct materials $50,000 $10.000
Direct labor ? $60.000
Manufacturing overhead $80.000 ?
What was the total manufacturing cost assigned to Job Delta?
a. $270,000
b. $360,000
c. $390.000
d. $480.000

5. It is April 19, 2012 and you suddenly remember that your credit card bill
is due the next day. You have the money in your checking account to pay
the bill in full. The mailing address for the credit card company is a few
thousand miles away so you assume that it will take a few days for your
check to arrive. What should you do?

Discuss some of the program’s challenges.
https://www.pbs.org/video/need-know-financial-literacy/