Answer:
See below
Explanation:
Mutual interdepence means that action of one firm is seen and copied by others.
Rivera Company manufactured two products, A and B, during April. For purposes of product costing, an overhead rate of $2.00 per direct-labor hour was used, based on budgeted annual factory overhead of $500,000 and 250,000 budgeted annual direct-labor hours, as follows:
Budgeted Overhead Budgeted Hours
Department 1 $300,000 200,000
Department 2 200,000 50,000
$500,000 250,000
The number of labor hours required to manufacture each of these products was:
Product A Product B
In Department 1 3 1
In Department 2 1 3
Total 4 4
During April, production units for products A and B were 1,000 and 3,000, respectively.
Required:
a. Using a plantwide overhead rate, what are total overhead costs assigned to products A and B, respectively?
b. Using departmental overhead rates, what are total overhead costs assigned to products A and B, respectively?
c. Assume that materials and labor costs per unit of Product B are $10 and that the selling price is established by adding 40% of total costs to cover profit and selling and administrative expenses.What difference in selling price would result from the use of departmental overhead rates?
Solution :
a). The assigned total cost is :
[tex]$A =\$ \ 8000$[/tex]
[tex]$B =\$ \ 24,000$[/tex]
Total overheads $ 500,000
Total hours 250,000
Plantwide overhead rate $ 2
Cost assigned to :
A ( 2 x 4 x 1000) $ 8,000
B ( 2 x 4 x 3000) $ 24,000
b). Department 1 Department 2
Overheads $ 300,000 $ 200,000
Hours 200,000 50,000
Overhead rate $ 1.50 $ 4.00
Overheads for the product A $ 8,500
(1.5 x 3 + 4 x 1) x 1000
Overheads for the product B $ 40,500
(1.5 x 3 + 4 x 1) x 3000
c). Plant wide Departmental
material and labor $ 10 $ 10
overheads $ 8 $ 13.50
Total $ 18.00 $ 23.50
Add: profit $ 7.20 $ 9.40
Selling price $ 25.20 $ 32.90
The difference $ 7.70
Therefore, the increase in the selling price = $ 7.70
Gubser Welding, Inc., operates a welding service for construction and automotive repair jobs. Assume that the arrival of jobs at the company's office can be described by a Poisson probability distribution with an arrival rate of five jobs per 8-hour day. The time required to complete the jobs follows a normal probability distribution, with a mean time of 1.3 hours and a standard deviation of 1 hour. Answer the following questions, assuming that Gubser uses one welder to complete all jobs:
What is the mean arrival rate in jobs per hour? Round your answer to four decimal places.
jobs per hour _________
What is the mean service rate in jobs per hour? Round your answer to four decimal places.
jobs per hour _________
What is the average number of jobs waiting for service? Round your answer to three decimal places.
__________
What is the average time a job waits before the welder can begin working on it? Round your answer to one decimal place.
_________ hours
What is the average number of hours between when a job is received and when it is completed? Round your answer to one decimal place.
_________ hours
What percentage of the time is Gubser's welder busy? Round your answer to the nearest whole number.
_________ % of the time the welder is busy.
Answer:
a) Mean arrival rate in jobs per hour = 0.6250
b) Mean service rate in jobs per hour = 0.7692
c) The average number of jobs waiting for service = 2.802
d) Average time a job waits before the welder can begin working on it = 4.5 hours
e) Average number of hours between when a job is received and when it is completed = 5.8 hours
f) Percentage of the time is Gubser's welder busy = 81%
Explanation:
As given,
Number of jobs = 5
Rate = 8 hour per day
Average hours = 1.3
Standard deviation - 1 hour
a)
Mean arrival = [tex]\frac{No. of jobs}{rate}[/tex]
= [tex]\frac{5}{8}[/tex] = 0.6250 per hour
⇒Mean arrival rate in jobs per hour = 0.6250
b)
Mean service rate = [tex]\frac{hour}{average hour}[/tex]
= [tex]\frac{1}{1.3}[/tex] = 0.7692 per hour
⇒Mean service rate in jobs per hour = 0.7692
c)
Average number of job waiting for service = [tex]\frac{(0.6250)^{2} (1)^{2} + \frac{0.6250}{0.7692} }{2 ( 1 - \frac{0.6250}{0.7692} )}[/tex]
= [tex]\frac{1.05}{0.375}[/tex] = 2.802
⇒The average number of jobs waiting for service = 2.802
d)
Average time a job waits before the welder can begin working on it = [tex]\frac{2.802}{0.6250}[/tex]
= 4.5 hr
⇒Average time a job waits before the welder can begin working on it = 4.5 hours
e)
Average number of hours between when a job is received and when it is completed = 4.5 + [tex]\frac{1}{0.7692}[/tex]
= 4.5 + 1.3
= 5.8 hours
⇒Average number of hours between when a job is received and when it is completed = 5.8 hours
f)
Percentage of the time is Gubser's welder busy = [tex]\frac{0.6250}{0.7692}[/tex] ×100%
= 0.8125×100%
= 81.25% ≈ 81%
⇒Percentage of the time is Gubser's welder busy = 81%
Sagon Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of September. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $97,000 and the total of the credits to the account was $67,000. Which of the following statements is true?
A. Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $75,000.
B. Actual manufacturing overhead incurred during the month was $56,000.
C. Manufacturing overhead applied to Work in Process for the month was $75,000.
D. Manufacturing overhead for the month was underapplied by $19,000.
Answer:
Manufacturing overhead for the month was underapplied by $30,000.
Explanation:
Since it is given that
The debit to the manufacturing overhead is $97,000
And, the total credit is $67,000
So, the remaining amount would be
= $97,000 - $67,000
= $30,000
This $30,000 represent the underapplied overhead
This is the correct answer but the same is not provided in the given options
Assume the following relationships for the Caulder Corp.: Sales/Total assets 1.7× Return on assets (ROA) 5.0% Return on equity (ROE) 13.0% Calculate Caulder's profit margin and debt-to-capital ratio assuming the firm uses only debt and common equity, so total assets equal total invested capital. Do not round intermediate calculations. Round your answers to two decimal places. Profit margin: % Debt-to-capital ratio: %
Answer:
Profit margin=3%
Debt-to-capital ratio: = 3.8%
Explanation:
Calculations for Profit margin % and Debt-to-capital ratio: %
Calculation for profit margin
Profit margin =.05/1.7
profit margin=0.03*100
profit margin=3%
Calculation for Debt-to-capital ratio using this formula
Debt-to-capital ratio= ROA * (1 / ROE)
Let plug in the formula
Debt-to-capital ratio = .05 * (1 / .013)
Debt-to-capital ratio = .05 *76.92
Debt-to-capital ratio= 3.8%
Therefore: Profit margin=3%
Debt-to-capital ratio = 3.8%
Last year Hamdi Corp. had sales of $500,000, operating costs of $450,000, and year-end assets (which is equal to its total invested capital) of $435,000. The debt-to-total-capital ratio was 17%, the interest rate on the debt was 7.5%, and the firm's tax rate was 35%. The new CFO wants to see how the ROE would have been affected if the firm had used a 50% debt-to-total-capital ratio. Assume that sales, operating costs, total assets, total invested capital, and the tax rate would not be affected, but the interest rate would rise to 8.0%. By how much would the ROE change in response to the change in the capital structure
Answer:
1.74%
Explanation:
17% Debt 50% Debt
Sales $500,000 $500,000
Less: Cost $450,000 $450,000
Less: Interest $5,546 $17,400
Profit before tax $44,454 $32,600
Less: Tax at 35% $15,559 $11,410
Net Income $28,895 $21,190
Equity $361,050 $217,500
Return on Equity 8.00% 9.74%
Change in ROE = 9.74% - 8.00% = 1.74%
Workings
Interest (17% Debt) = 43,500*17%*7.5% = $5,546
Interest (50% Debt) = 43,500*50%*8% = $17,400
Tax (17% Debt) = $44,454 * 0.35 = 15,559
Tax (50% Debt) = $32,600 * 0.35 = 11,410
Equity (17% Debt) =435,000*83% = 361,050
Equity (50% Debt) = 435,000*50% = $217,500
Return on Equity = $28,895/$361,050 = 8.00%
Return on Equity = $21,190/$217,500 = 9.74%
Which of the following is not a key component of the merger model we walked through in the course?
Answer:
Gathering publicly available comparable company information
Creating detailed forecasts for both companies
An accretion/dilution and sensitivity analysis
Determining and calculating items related to the acquisition structure
The following is the information for the Brendan's Bread bakery company: Beginning raw materials inventory $ 53,200 Beginning work in process, inventory 78,400 Ending raw materials inventory 58,100 Ending work in process, inventory 98,000 Direct labor 149,800 Total factory overhead 105,000 Raw material purchases 210,000 Question: What is the value of Total Manufacturing Costs? Do not include a dollar sign or commas in your answer.
Answer:
$254,900
Explanation:
Total Manufacturing Costs include all costs involved in manufacturing a Product such as direct materials, direct labor and indirect costs or overheads incurred during the period of production.
Calculation of Total Manufacturing Cost
Raw Materials (53,200 +210,000 -58,100) $205,100
Direct Labor $149,800
Factory Overhead $105,000
Total Manufacturing Cost $254,900
Conclusion
Total Manufacturing Costs will be $254,900
If the supply of a good increased, what would be the effect on the equilibrium price and quantity?
Answer:
An increase in supply, all other things unchanged, will cause the equilibrium price to fall; quantity demanded will increase. A decrease in supply will cause the equilibrium price to rise; quantity demanded will decrease.
If supply increases while all other factors remain constant, the equilibrium price will fall. The quantity demanded will rise. A decrease in supply raises the equilibrium price while decreasing the quantity demanded.
What is supply?Supply is a fundamental economic concept that describes the total amount of a specific good or service that consumers have access to.
If displayed on a graph, supply can refer to the amount available at a specific price or the amount available across a range of prices. Changes in the supply curve shift the equilibrium price and quantity. If supply grows, equilibrium price falls and quantity grows.
Therefore, an increase in the supply will cause a reduction in equilibrium price and an increase in the quantity of a good.
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Functions of money and barter
Consider an economy in which money does not exist, so that agents rely on barter to carry out transactions. When the economy was small, barter seemed sufficient. However, the economy has now begun to grow.
If people in this economy trade three goods, the price tag of each good must list ______prices, and the economy requires_____prices for people to carry out transactions. Suppose that the number of goods people trade increases to 15. Then the price tag of each good must list___prices, and the number of prices that the economy requires increases to_____. Now suppose that our economy has a money. The government now issues a national currency and there is no longer any barter.
In this economy, money and currency are not the same because:____.
1. The fact that the government issues currency means that the currency will be accepted as money by all agents.
2. The fact that the currency is backed by the government means that it will never lose value and will remain a perfect unit of account.
3. Just because the government issues currency does not mean that the currency will be accepted as money, since it must be used as a medium of exchange, store of value and standard of value.
4. Just because the government issues currency does not mean that the currency will be accepted as money, and buyers and sellers still need barter to ensure that money does not lose its value.
Suppose now that our economy is suffering from rapid, ongoing increases in the cost of living. Which characteristic of money is directly negatively impacted in that economy?
1. Medium of exchange.
2. Double coincidence of wants.
3. Store of value.
4. Unit of account.
Solution :
When the people of this economy trades three of their goods, the price of the good must list 1 price and then the economy requires 3 prices for the people to carry transactions.
Suppose the number of the goods that people trade increases to 15 number, then the price of the goods must list one price and the number of the price that the economy requires increases to 15.
Money has an intrinsic value and it is the unit of account, while that of the currency is the measure of the value and have a purchasing power that government is bestowed on it being a legal tender.
The store of the value characteristics is negatively impacted. But because the ongoing increase in the cost of the standard implies inflation that means that the value of the assets as accounted by the store has a value function as the money decreases.
Even when the cost of the living increases, the money serves as the best medium of exchange and a unit of the account.
Double coincidence of the wants is the barter system that is required.
Recently, a group of university students decided to incorporate for the purposes of selling a process to recycle the waste product from manufacturing cheese. Some of the initial costs involved were legal fees and office expenses incurred in starting the business, state incorporation fees, and stamp taxes. One student wishes to charge these costs against revenue in the current period. Another wishes to defer these costs and amortize them in the future. Which student is correct
Answer:
The student wishing to defer these costs and amortize them in the future.
Explanation:
Indeed, according to standard regulatory requirements, all the initial costs associated with incorporating a business cannot be deducted all at once in the first year of operation.
However, these costs are spread over a long period of time. And one way to do this is to amortize them in the future. Therefore, the second student deferring cost is correct.
Mayweather reports net income of $305,000 for the year ended December 31. It also reports $93,700 depreciation expense and a $10,000 loss on the sale of equipment. Its comparative balance sheet reveals a $40,200 increase in accounts receivable, a $10,200 decrease in prepaid expenses, a $15,200 increase in accounts payable, a $12,500 decrease in wages payable, a $75,000 increase in equipment, and a $100,000 decrease in notes payable. Calculate the net increase in cash for the year.
Answer:
206,400.00
Explanation:
Calculation for the net increase in cash for the year
Net Income 305,000
Adjustment to reconcile Net Income to Net Cash
Add:
Depreciation Expense 93,700
Loss on sale of equipment 10,000
Cash flow from Operations 408,700
(305,000+93,700+10,000)
Changes in Current Assets/Current Liabilities
Less Increase in Accounts Receivable (40,200)
Decrease in Prepaid Expenses 10,200
Increase in Accounts Payable 15,200
Less Decrease in Wages Payable (12,500) (27,300)
Net cash provided by operating activities 381,400
(408,700-27,300)
Cash flow from investing activities
Increase in equipment (75,000)
Net cash provided by investing activities (75,000)
Cash flow from financing activities
Decrease in Notes payable (100,000)
Net cash provided by financing activities (100,000)
Net Increase/(Decrease) in cash $206,400
Therefore the net increase in cash for the year will be $206,400
Dave M. Company issues 500 shares of $10 par value Common Stock and 100 shares of $40 par value Preferred Stock as a basket for a lump sum of $105,000. Total transaction costs paid to complete the sale was $5,000. Common Stock of the company was selling for $198 per share in the market that day and Preferred Stock was selling for $110 per share in the market that day.
Required:
a. Prepare a table showing how the sale price is allocated between the Common Stock and the Preferred Stock.
b. Prepare the journal entry to record the basket sale of the two stocks.
Answer:
a.
Allocation
Common Stock $94,500
Preferred Stock $10,500
b.
Journal Entry
Cash _____________________________$105,000
Common stock _____________________ $5000
Paid-in capital in excess of par - Common _$89,500
Preferred stock _____________________$4,000
Paid-in capital in excess of par - Preferred _$6,500
Explanation:
a.
First, we need to calculate the Market value of both stock using the foloowinf formula
Market value = Numbers of shares x Market value per share
Market value of common stock = 500 x $198 = $99,000
Market value of preferred stock = 100 x $110 = $11,000
Total value = $99,000 + $11,000 = $110,000
Now calculate the weight of each sock
Weight of common stock $99,000 / $110,000 = 0.90
Weight of preferred stock = $11,000 / $110,000 = 0.10
Allocation of the sale price is as follow
Allocated sale price = Weight of Stock x Sale price
Allocated sale price of common stock = $105,000 x 0.90 = $94,500
Allocated sale price of common stock = $105,000 x 0.10 = $10,500
b.
Common Sock is recorded separately as par value and paid-in capital excess of par as follow
Common Stock ( Par Value ) = 500 x $10 = $5,000
Common Stock ( Excess of Par ) = $94,500 - $5,000 = $89,500
Preferred Stock ( Par Value ) = 100 x $40 = $4,000
Preferred Stock ( Excess of Par ) = $10,500 - $4,000 = $6,500
Kingbird Corporation is preparing its December 31, 2020, balance sheet. The following items may be reported as either a current or long-term liability.
1. On December 15, 2020, Kingbird declared a cash dividend of $2.30 per share to stockholders of record on December 31. The dividend is payable on January 15, 2021. Kingbird has issued 1,000,000 shares of common stock, of which 50,000 shares are held in treasury.
2. At December 31, bonds payable of $114,286,000 are outstanding. The bonds pay 12% interest every September 30 and mature in installments of $28,571,500 every September 30, beginning September 30, 2021.
3. At December 31, 2019, customer advances were $12,485,000. During 2020, Kingbird collected $32,673,000 of customer advances; advances of $27,486,000 should be recognized in income.
Required:
For each item above, indicate the dollar amounts to be reported as a current liability and as a long-term liability, if any.
Answer:
1. Dividend payable = (1,00,000 shares - 50,000 shares) shares * $2.30 per shares = $2,185,000 will be reported as current liability (payable within 1 year)
2. Bonds payable (September 30, 2021 installment)= $28,571,500 and interest on bonds = ($114,286,000*12%*3/12) = $3,428,580 are current liabilities whereas Bonds payable (Other than September 30, 2018 installment) =($114,286,000 - $28,571,500) = $85,714,500 are long term liabilities.
3. Customer advances = ($12,485,000 + $32,673,000 - $27,486,000) = $17,672,000 are current liabilities.
Gross Domestic Product (GDP) can be defined as: I. The sum of all incomes while adjusting for indirect business taxes and foreign incomes. II. The market value of goods and services sold in an economy in some time period. III. The total market value of final goods and services produced in an economy in some time period. III only I and II only I, II and III II and III only I and III only
Answer:
I and III only
Explanation:
The full form of GDP is Gross domestic product. It is the sum of all the income at the time when the business taxes i.e. indirect and the foreign incomes would be adjusted also it is a sum total of market value of the goods and services i.e. final generated in an economy for a time period
Therefore the I and III statements are true
Which statement does not describe the Linux operating systems?
It is proprietary software.
Its code can be modified by users.
It was developed by Torvalds.
It is an open-source application
Answer:
c your correct
Explanation:
The 2018 balance sheet of Speith’s Golf Shop, Inc., showed long-term debt of $5 million, and the 2019 balance sheet showed long-term debt of $5.25 million. The 2019 income statement showed an interest expense of $165,000. The 2018 balance sheet showed $510,000 in the common stock account and $4.6 million in the additional paid-in surplus account. The 2019 balance sheet showed $550,000 and $4.8 million in the same two accounts, respectively. The company paid out $410,000 in cash dividends during 2019. Suppose you also know that the firm’s net capital spending for 2019 was $1,370,000, and that the firm reduced its net working capital investment by $69,000. What was the firm's 2019 operating cash flow, or OCF?
Answer:
$1,386,000
Explanation:
The computation of the operating cash flow is shown below:
But before that following calculations must be done
Cash Flow to Creditors
Cash Flow to Creditors = Interest Expenses Paid - Net Increase in Long term debt
= Interest Expenses Paid - [Ending Long term debt - BEginning Long term Debt]
= $165,000 - [$5,250,000 - $5,000,000]
= $165,000 - $250,000
= -$85,000
Cash Flow to Stockholders
Cash Flow to Stockholders = Dividend Paid - Net New Equity
= Dividend Paid - [(Ending Common stock + Ending Additional paid-in surplus account ) - (Opening Common stock + OPening Additional paid-in surplus account )
= $410,000 - [($550,000 + $4,800,000) - ($510,000 + $4,6000,000)]
= $410,000 - [$5,350,000 - $5,110,000]
= $410,000 - $240,000
= $170,000
Cash Flow from assets
Cash Flow from assets = Cash Flow to Creditors + Cash Flow to Stockholders
= -$85,000 + $170,000
= $85,000
Operating Cash Flow
= Operating Cash flows - Change in Net Working capital - Net Capital Spending
$85,000 = Operating cash flow - (-$69,000) - $1,370,000
= $85,000 - $69,000 + $13,70,000
= $1,386,000
Identify which accounts should be closed on May 31.
Cash
Not Closed
Closed
Supplies
Closed
Not Closed
Prepaid Insurance
Not Closed
Closed
Land
Closed
Not Closed
Buildings
Not Closed
Closed
Equipment
Not Closed
Closed
Accounts Payable
Closed
Not Closed
Unearned Rent Revenue
Not Closed
Closed
Mortgage Payable
Closed
Not Closed
Common Stock
Not Closed
Closed
Rent Revenue
Not Closed
Closed
Salaries and Wages Expense
Closed
Not Closed
Utilities Expense
Not Closed
Closed
Advertising Expense
Not Closed
Closed
Interest Expense
Not Closed
Closed
Insurance Expense
Not Closed
Closed
Supplies Expense
Not Closed
Closed
Depreciation Expense
Closed
Not Closed
Answer:
Cash ___________________ Not Closed
Supplies _________________Not Closed
Prepaid Insurance _________ Not Closed
Land ___________________Not Closed
Buildings ________________Not Closed
Equipment _______________Not Closed
Accounts Payable _________ Not Closed
Unearned Rent Revenue ____Not Closed
Mortgage Payable _________Not Closed
Common Stock ___________Not Closed
Rent Revenue ____________Closed
Salaries and Wages Expense_Closed
Utilities Expense __________ Closed
Advertising Expense _______ Closed
Interest Expense __________ Closed
Insurance Expense _________Closed
Supplies Expense __________Closed
Depreciation Expense _______Closed
Explanation:
In accounting, there are two types of accounts
TemporaryPermanentTemporary
Temporary accounts are closed at the end of each accounting period and new balance are maintained for the new period.
Expense and Income accounts are temporary accounts and these accounts are closed in the retained earning account of the balance share.
In this question following accounts are temporary accounts and these are needed to be closed at the end of the period.
Rent Revenue
Salaries and Wages Expense
Utilities Expense
Advertising Expense
Interest Expense
Insurance Expense
Supplies Expense
Depreciation Expense
Permanent Accounts
Permanent accounts are not closed at the end of each accounting period and they carried their net and accumulated balance in the next period.
Assets, Equity, and Liabilities accounts are permanent accounts.
In this question following accounts are permanent accounts
Cash
Supplies
Prepaid Insurance
Land
Buildings
Equipment
Accounts Payable
Unearned Rent Revenue
Mortgage Payable
Common Stock
Cash ___________________ Not Closed
Supplies _________________Not Closed
Prepaid Insurance _________ Not Closed
Land ___________________Not Closed
Buildings ________________Not Closed
Equipment _______________Not Closed
Accounts Payable _________ Not Closed
Unearned Rent Revenue ____Not Closed
Mortgage Payable _________Not Closed
Common Stock ___________Not Closed
Rent Revenue ____________Closed
Salaries and Wages Expense_Closed
Utilities Expense __________ Closed
Advertising Expense _______ Closed
Interest Expense __________ Closed
Insurance Expense _________Closed
Supplies Expense __________Closed
Depreciation Expense _______Closed
Explanation:
In accounting, there are two types of accounts
Temporary
Permanent
Temporary
Temporary accounts are closed at the end of each accounting period and new balance are maintained for the new period.
Expense and Income accounts are temporary accounts and these accounts are closed in the retained earning account of the balance share.
In this question following accounts are temporary accounts and these are needed to be closed at the end of the period.
Rent Revenue
Salaries and Wages Expense
Utilities Expense
Advertising Expense
Interest Expense
Insurance Expense
Supplies Expense
Depreciation Expense
Permanent Accounts
Permanent accounts are not closed at the end of each accounting period and they carried their net and accumulated balance in the next period.
Assets, Equity, and Liabilities accounts are permanent accounts.
In this question following accounts are permanent accounts
Cash
Supplies
Prepaid Insurance
Land
Buildings
Equipment
Accounts Payable
Unearned Rent Revenue
Mortgage Payable
Common Stock
What are the benefits of outsourcing
the majority of retailers are what
Osborn Manufacturing uses a predetermined overhead rate of $ 19.70 per direct labor- hour. This predetermined rate was based on a cost formula that estimates $265,950 of total manufacturing overhead for an estimated activity level of 13,500 direct labor-hours. The company actually incurred $260,000 of manufacturing overhead and 13,000 direct labor-hours during the period.
Required:
1. Determine the amount of underapplied or overapplied manufacturing overhead for the period.
2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal entry to dispose of the underapplied or overhead increase or decrease the company's gross margin? By how much?
Answer:
1. $3,900
2. $3900
Explanation:
Required:
1. Calculation to Determine the amount of underapplied or overapplied manufacturing overhead for the period.
Applied overhead = 19.70*13,000
Applied overhead = 256,100
manufacturing overhead = 260,000-256,100
manufacturing overhead= underapplied by $3,900
2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal entry to dispose of the underapplied or overhead increase or decrease the company's gross margin? By how much
The gross margin would decrease by the amount of $3900
Which of the following statements is not true? Many Fortune 500 U.S. firms derive more than half their revenues from foreign operations. Technology companies are particularly dependent on offshore revenue. Eighty percent of the toys sold in the United States are manufactured in China. Most PCs manufactured in China use microprocessor chips manufactured in Korea. In 2017, 60 percent of Apple's revenue was generated outside of the United States.
Answer:
B
Explanation:
Brainliest?
Use the following items to determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows.
Rent for the month: $1,300
Monthly take-home salary: $2,835
Spending for food: $670
Cash in checking account: $580
Savings account balance: $2,020
Balance of educational loan: $2,940
Current value of automobile: $9,650
Telephone bill paid for month: $130
Credit card balance: $300
Loan payment: $210
Auto insurance: $360
Household possessions: $4,700
Video equipment: $2,675
Payment for electricity: $155
Lunches/parking at work: $245
Donations: $290
Personal computer: $1,850
Value of stock investment: $1,185
Clothing purchase: $175
Restaurant spending: $195
Answer:
Follows are the solution to this question:
[tex]\text{Total liabilities}= \$3,240\\\\\text{Net worth}=\$19,420\\\\\text{Total cash outflows}= \$3,730\\\\[/tex]
Explanation:
Calculating the values:
[tex]\text{Total assets} = \$22,660 (580 + 2,020 + 9,650+ 2,675+ 1,850+ 4,700 + 1185) \\\\\text{Total liabilities} = \$3,240 (300 + 2,940) \\\\\text{Net worth} = \$19,420 (\$22,660 - \$3,240) \\\\\text{Total cash inflows} = \$3,730\\\\\text{Total cash outflows} = \$3,730 (1300+ 670+ 360+ 245+ 175+ 130+ 210 + 155+ 290 + 195)[/tex]
The level of analysis for the Industry environment is the _____ level:
As part of its hiring process, TE Electronics requires new employees to sign an agreement that requires arbitration in the event of any employment dispute. Jack applied and was hired by TE last summer. On his first day of employment, Jack signed the mandatory arbitration agreement. Jack is an Asian-American, and was recently passed over for promotion. Jack wants to file a charge of discrimination with the EEOC, but his supervisor says he cannot because of the arbitration agreement. Which of the following is true?
a. Jack can file a claim with the EEOC since the Title VII does not permit enforcement of the mandatory arbitration agreement
b. The EEOC can still investigate the matter and take action against TE Electronics it cannot obtain relief for Jack
c. The EEOC is not a party to the mandatory arbitration agreement so it can investigate the claim and can even pursue specific relief for jack including back pay, reinstatement and damages
d. With the mandatory arbitration agreement in place, the EEOC can not do any investigation of Jacks claim
Answer:
Option C: The EEOC is not a party to the mandatory arbitration agreement, so it can investigate the claim and can even pursue specific relief for Jack including back pay, reinstatement and damages
Explanation:
The Civil Rights Act of 1964 clearly state and prohibits: discrimination relating to employment, education, and public accommodations. In filling of a charge of discrimination with the EEOC, For the charging party's rights be secured, a written charge must be filed with the EEOC within 180 days of the alleged violation.
Equal Employment Opportunity Commission (EEOC) that handles the responsibility of enforcing federal laws that is it make it illegal to discriminate against a job applicant or employee due to race/color, equal, e. t. c.
A Herfindahl-Hirschman Index is calculated by
A. summing the advertising expenditures of the firms that want to merge by total industry advertising expenditures.
B. summing the amount of sales by the four largest firms and dividing by total industry sales.
C. dividing the number of firms wanting to merge by the total number in the industry.
D. summing the squares of the market shares of each firm in the industry.
Answer:
Option D: Summing the squares of the market shares of each firm in the industry.
Explanation:
The Herfindahl-Hirschman index (HHI) is a use worldwide as measure of market concentration. It's calculation is based on squaring the market share of each firm competing in a market, and thereafter the resulting numbers are summed up. It commonly range known is simply from zero to 10,000. It is used by U.S. Department of Justice uses for potential mergers issues evaluation. It is a measure of industry concentration by the sum of the squares of the market shares held by each of the firms in the industry.
The Herfindahl index shows a decrease in competition and an increase of market power, when there is an increase and decreases is the opposite.
Tesla's use of renewable energy sources is an example of which type of corporate social responsibility?
A. Responsibility to stakeholders
B. Responsibility to society
C. Corporate philanthropy
D. Environmental responsibility
Answer:
D. Environmental responsibility
Explanation:
Environmental responsibility can be defined as a set of efforts adopted by companies with the objective of reducing the negative impacts related to business activities and adopting practices aimed at environmental protection.
In the case of Tesla, the use of renewable energies is an example of environmental responsibility, as the company's focus is the production of electric vehicles, which, unlike vehicles that use fossil fuels, do not emit polluting gases that contribute to the greenhouse effect.
Therefore, Tesla offers an alternative that reduces the environmental impact of vehicles, attesting to their environmental responsibility and increasing the brand value, reliability and positioning with stakeholders, being a company aligned with the highest parameters of promoting sustainability.
Which of the following is a simple sentence?
a. Because we will be reducing employee health insurance benefits, some employees may be unhappy; however, we must make sure that they understand the reason for the change.
b. HMO and PPO insurance plans offer additional cost savings.
c. Having healthy employees decreases the cost of monthly premiums; therefore, we will be implementing a wellness program.
d. If health insurance costs continue to rise, employee copays may increase.
The simple sentence is:b. HMO and PPO insurance plans offer additional cost savings.
A simple sentence is a sentence with one independent clause (also called a main clause). It can have a compound subject or predicate. There is only one independent clause in a simple sentence and it expresses a single thought. Among the given sentences, the simple sentence is:b. HMO and PPO insurance plans offer additional cost savings.
Explanation:The sentence "HMO and PPO insurance plans offer additional cost savings" is a simple sentence because it contains only one subject-verb pair, “HMO and PPO insurance plans” (subject), “offer” (verb).
The sentence is clear and straightforward. It contains no dependent clauses or conjunctions that join two independent clauses. Hence, this sentence is a simple sentence.
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Arif told Bano, his wife, that he would divorce her, if she does not transfer her
personal assets to him. She agreed to transfer her assets to him. Can Bano avoid
the contract?
On January 2, 2020, Riverbed Company sells production equipment to Fargo Inc. for $46,000. Riverbed includes a 2-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on January 2, 2020. During 2020, Riverbed incurs costs related to warranties of $900. At December 31, 2020, Riverbed estimates that $690 of warranty costs will be incurred in the second year of the warranty.
Required:
a. Prepare the journal entry to record this transaction on January 2, 2020, and on December 31, 2020.
b. Repeat the requirements for (a), assuming that in addition to the assurance warranty.
Answer:
A. Jan 2,2020
Dr Cash $46,000
Cr Sales Revenue $46,000
During 2020
Dr Warranty expenses $900
Cr Cash $900
Dec 31,2020
Dr Warranty expense $690
Cr Accrued warranty liability $690
B. Jan 2,2020
Dr Cash $46,760
Cr Sales revenue $46,000
Cr Unearned warranty expense $760
During 2020
Dr Warranty expenses $900
Cr Cash $900
Dec 31,2020
Dr Warranty expense $690
Cr Accrued warranty liability $690
Explanation:
Preparation of the journal entry to record this transaction on January 2, 2020, and on December 31, 2020
Jan 2,2020
Dr Cash $46,000
Cr Sales Revenue $46,000
(Being to record sale of equipment)
During 2020
Dr Warranty expenses $900
Cr Cash $900
(Being to record warranty expense)
Dec 31,2020
Dr Warranty expense $690
Cr Accrued warranty liability $690
(Being to record warranty liability)
B. Preparation of the Journal entry to Repeat the requirements for (a)
Jan 2,2020
Dr Cash $46,760
($46,000+$760)
Cr Sales revenue $46,000
Cr Unearned warranty expense $760
(Being to record sale of equipment and extended warranty)
During 2020
Dr Warranty expenses $900
Cr Cash $900
(Being to record warranty expense)
Dec 31,2020
Dr Warranty expense $690
Cr Accrued warranty liability $690
(Being to record warranty liability)
The following balances were taken from the books of Novak Corp. on December 31, 2020.
Interest revenue $88,200 Accumulated depreciation—equipment $42,200
Cash 53,200 Accumulated depreciation—buildings 30,200
Sales revenue 1,382,200 Notes receivable 157,200
Accounts receivable 152,200 Selling expenses 196,200
Prepaid insurance 22,200 Accounts payable 172,200
Sales returns and allowances 152,200 Bonds payable 102,200
Allowance for doubtful accounts 9,200 Administrative and general expenses 99,200
Sales discounts 47,200 Accrued liabilities 34,200
Land 102,200 Interest expense 62,200
Equipment 202,200 Notes payable 102,200
Buildings 142,200 Loss from earthquake damage 152,200
Cost of goods sold 623,200 Common stock 502,200
Retained earnings 23,200
Assume the total effective tax rate on all items is 20%.
Required:
Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year.
Answer:
Net income = $110,400
Explanation:
Note: See the attached excel file for the multiple-step income statement for the Year Ended December 31, 2020.
Multiple-step income statement can be described as an income statement that that contains multiple additions and subtractions employed in order calculate the net income.
In a multiple-step income statement, the gross profit is shown and the operating revenues and expenses are clearly separated from the nonoperating revenues, expenses, gains, and losses.
In the attached excel, a net income is $110,400.