Reamer Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporation has provided the following estimated costs for next year: Direct materials $ 1,000 Direct labor $ 3,000 Sales commissions $ 4,000 Salary of production supervisor $ 2,000 Indirect materials $ 400 Advertising expense $ 800 Rent on factory equipment $ 1,000 Reamer estimates that 500 direct labor-hours and 1,000 machine-hours will be worked during the year. The predetermined overhead rate per hour will be:

Answer:

$3.40 per machine-hour

Explanation:

Calculation for what The predetermined overhead rate per hour will be:

First step is to calculate the Total estimated manufacturing overhead

Manufacturing overhead:

Salary of production supervisor $2,000

Indirect materials $400

Rent on factory equipment$1,000

Total estimated manufacturing overhead $3,400

Now let calculate the Predetermined overhead rate using this formula

Predetermined overhead rate=Total estimated manufacturing overhead/Estimated machine-hours

Let plug in the formula

Predetermined overhead rate=$3,400/1,000

Predetermined overhead rate=$3.40 per machine-hour

Therefore The predetermined overhead rate per hour will be:$3.40 per machine-hour

If a product's demand rises as income rises, ceteris paribus, the product is

a) an inferior good

b) not enough information

c) a notmal good

d) outside of the market equilibrium ​

On January 1, 2020, Bridgeport Corporation issued $3,740,000 of 10-year, 8% convertible debentures at 102. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into 8 shares of Bridgeport Corporation $100 par value common stock after December 31, 2021. On January 1, 2022, $374,000 of debentures are converted into common stock, which is then selling at $111. An additional $374,000 of debentures are converted on March 31, 2022. The market price of the common stock is then $116. Accrued interest at March 31 will be paid on the next interest date. Bond premium is amortized on a straight-line basis. Make the necessary journal entries for: (a) December 31, 2021. (c) March 31, 2022. (b) January 1, 2022. (d) June 30, 2022.

very urgent, i need this answered asap

After graduating college, you receive $10,000 and decide to put it in a high yield saving account. The account earns 0.50% compounded quarterly. a) (8 points) What is the effective annual interest rate? b) (7 points) If you leave your initial investment of $10,000 in the account without any withdrawals what would you expect the value of the account to be after 4 years?

HW13. Suppose that you begin saving up to buy a car by depositing a certain amount at the end of each month in a savings account which pays 3.6% annual interest compounded monthly. If your goal is to have $15,000 in the account four and a half years from now, how much do you need to put into the savings account each month

Consider two neighboring island countries called Arcadia and Dolorium. They each have 4 million labor hours available per week that they can use to produce jeans, corn, or a combination of both. The following table shows the amount of jeans or corn that can be produced using 1 hour of labor.

Country Jeans (Pairs per hour of labor) Corn(Bushels per hour of labor)
Arcadia 5 10
Dolorium 4 16

Initially, suppose Arcadia uses 1 million hours of labor per month to produce corn and 3 million hours per month to produce jeans, while Dolorium uses 3 million hours of labor per month to produce corn and 1 million hours per month to produce jeans. Consequently, Arcadia produces 8 million bushels of corn and 48 million pairs of jeans, and Dolorium produces 15 million bushels of corn and 20 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of corn and jeans it produces.

Arcadia's opportunity cost of producing 1 pair of jeans is _____ of corn, and Dolorium's opportunity cost of producing 1 pair of jeans is _____ of corn. Therefore, ____ has a comparative advantage in the production of jeans, and ____ has a comparative advantage in the production of corn.

The general price level is 150.00 and people expect it to increase to 156.00 next year. Therefore, the expected rate of inflation equals percent. Moreover, there is a one-year bond that promises to pay $107,000.00 next year and is selling for $100,000.00 in the bond market today. So, the nominal interest rate equals percent, and the ex-ante real interest rate on this bond equals percent. Because of some news about the state of the economy, people revise their expectations of the future price level to 159.00. According to the Fisher Effect, the price of the bond today will change to_______ dollars.

What is another term for the buying and selling of stocks?

A.) Entrepreneurial ability.
B.) Trading.
C.) Shares.
D.) Lack of scarcity.

A bachelors degree in which of the following areas is a good choice for an arts an communication manager?
A. business
B. art history
C. theater

Selected financial data regarding current assets and current liabilities for ACME Corporation and Wayne Enterprises, are as follows: ACME Wayne ($ in millions)Corporation Enterprises Current assets:Cash and cash equivalents $499 $285 Current investments 7 530 Net receivables 751 206 Inventory 10,586 8,609 Other current assets 1,344 255 Total current assets $13,187 $9,885 Current liabilities:Current debt $8,621 $4,451 Accounts payable 1,807 1,061 Other current liabilities 1,179 2,381 Total current liabilities $11,607 $7,893 Required:1-a. Calculate the current ratio for ACME Corporation and Wayne Enterprises. (Enter your answers in millions. For example, $5,500,000 should be entered as 5.5.)

Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments-Molding and Fabrication. It started, completed, and sold only two jobs during March- Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March):
Molding Fabrication Total
Estimated total machine-hours used 2,500 1,500 4,000
Estimated total fixed manufacturing overhead $ 14,000 $ 17,400 $ 31,400
Estimated variable manufacturing overhead per machine-hour $ 3.00 $ 3.80
Job P Job Q
Direct materials $ 29,000 $ 16,000
Direct labor cost $ 33,800 $ 13,900
Actual machine-hours used:
Molding 3,300 2,400
Fabrication 2,200 2,500
Total 5,500 4,900
Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.
What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.)

When Mary Potts arrived at her store on the morning of January 29, she found empty shelves and display racks; thieves had broken in during the night and stolen the entire inventory. Accounting records showed that Potts had inventory costing $50,000 on January 1. From January 1 to January 28, Potts had made net sales of $70,000 and net purchases of $80,000. The gross profit during the past several years had consistently averaged 42 percent of net sales. Potts plans to file an insurance claim for the theft loss.

Required:
a. Using the gross profit method, estimate the cost of inventory at the time of the theft.
b. Doe Potts use the periodic inventory method or does she account for inventory using the perpetual method?

Suman said that, "she didn't understand the
direct and indirect speech
​

Consider a chemical factory that is situated next to a farm. Airborne emissions from the chemical factory damage crops on the farm. The marginal benefits of emissions to the factory and the marginal costs of damage to the farmer are as follows: Quantity of emissions (Q) 100 200 300 400 500 600 700 800 900 MB to factory 320 280 240 200 160 120 80 40 0 MC to farmer 110 130 150 170 190 210 230 250 270 Calculate the total net benefit to the farmer and factory at the economically and socially efficient quantity of emissions. A. $63000 B. $62000 C. $60750 D. $61000

Karen, Inc. manufactures a product that uses $15 in direct materials and $5 in direct labor per unit. Under the traditional costing system Karen uses, manufacturing overhead applied to each unit is $12. However, Karen is considering switching to an ABC system. Under the ABC system, the total activity cost would be $25. What is the total manufacturing cost per unit for Karen under the ABC system

Garcia Company issues 8.50%, 15-year bonds with a par value of $390,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12.50%, which implies a selling price of 79. The effective interest method is used to allocate interest expense. 1. Using the implied selling price of 79, what are the issuer's cash proceeds from issuance of these bonds.

The partnership of Keenan and Kludlow paid the following wages during this year:

M. Keenan (partner) $85,000
S. Kludlow (partner) 75,000
N. Perry (supervisor) 53,000
T. Lee (factory worker) 34,600
R. Rolf (factory worker) 29,800
D. Broch (factory worker) 6,900 S.
Ruiz (bookkeeper) 25,400
C. Rudolph (maintenance) 5,100

In addition, the partnership owed $200 to Rudolph for work he performed during December. However, payment for this work will not be made until January of the following year. The state unemployment tax rate for the company is 2.95% on the first $9,000 of each employee's earnings. Compute the following:

a. Net FUTA tax for the partnership for this year.
b. SUTA tax for this year.

Hakara Company has been using direct labor costs as the basis for assigning overhead to its many products. Under this allocation system, product A has been assigned overhead of $10.80 per unit, while product B has been assigned $3.60 per unit. Management feels that an ABC system will provide a more accurate allocation of the overhead costs and has collected the following cost pool and cost driver information:

Cost Pools Activity Costs Cost Drivers Driver Consumption
Machine setup $360,000 Setup hours 4,000
Materials handling 100,000 Pounds of materials 20,000
Electric power 40,000 Kilowatt-hours 40,000

The following cost information pertains to the production of A and B, just two of Hakara's many products:

A B
Number of units produced 4,000 20,000
Direct materials cost $42,000 $54,000
Direct labor cost $24,000 $40,000
Number of setup hours 400 200
Pounds of materials used 1,000 3,000
Kilowatt-hours 2,000 4,000

Required:
Use activity-based costing to determine a unit cost for each product.

Mike Greenberg opened Cheyenne Window Washing Inc. on July 1, 2022. During July, the following transactions were completed.
July 1 Issued 9,800 shares of common stock for $9,800 cash.
1 Purchased used truck for $6,560, paying $1,640 cash and the balance on account.
3 Purchased cleaning supplies for $740 on account.
5 Paid $1,440 cash on a 1-year insurance policy effective July 1.
12 Billed customers $3,030 for cleaning services performed.
18 Paid $820 cash on amount owed on truck and $410 on amount owed on cleaning supplies.
20 Paid $1,640 cash for employee salaries.
21 Collected $1,310 cash from customers billed on July 12.
25 Billed customers $2,050 for cleaning services performed.
31 Paid $240 for maintenance of the truck during month.
31 Declared and paid $490 cash dividend.
Journalize the July transactions.
Post to the ledger accounts.
Prepare a trial balance at July 31.
Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
(1) Services performed but unbilled and uncollected at July 31 were $1,750.
(2) Depreciation on equipment for the month was $202.
(3) One-twelfth of the insurance expired.
(4) An inventory count shows $320 of cleaning supplies on hand at July 31.
(5) Accrued but unpaid employee salaries were $415.

USAco, a domestic corporation, manufactures widgets for sale worldwide. In year 2020, USAco had $10 million of net income related to sales of products it manufactures in the US, of which 3 million relates to sales to customers outside the US. USACO also owns a factory, which it uses to produce the above income, and which has an average adjusted U.S. tax basis of $40 million (taking into account the straight-line depreciation method). As a result of these activities, USACo will be allowed a Foreign Derived Intangible Income ("FDII") deduction of _______________

Taxable income terminology Taxable Income Terminology Match the terms relating to the basic terminology and concepts of personal finance on the left with the descriptions of the terms on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term These are not necessarily complete definitions, but there is only one possible answer for each term
Term Answer Description
A. To qualify for exclusion during this transaction, you must have owned and Gross income ▼ occupied for two of the five prior years
B. This term essentially includes all income subject to federal tax Active income Portfolio income
C. Using taxable income, it is based on tax tables or tax rate schedules Passive income
D. This term includes expenses that can only offset portfolio income.
E. This is used to offset passive income Investment expenses
F. This term includes income from self-employment Real estate or limited partnership expenses Capital gains
G. This item is taxed at different rates depending on the holding period Sale of a home A TH,
H. This is used to determine tax liability Taxable income
I. This term includes income gained from real estate and limited partnerships ▼ Tax liability C
J. This term refers to earnings and capital gains generated from investment holdings

For the current year, Power Cords Corp. expected to sell 42,100 industrial power cords. Fixed costs were expected to total $1,650,500; unit sales price was expected to be $3,800; and unit variable costs were budgeted at $2,300.

Power Cord Corp.'s margin of safety (MOS) in sales dollars is: (Do not round intermediate calculations.)
A. $155,798,733.
B. $189,973,732.
C. $161,718,730.
D. $173,523,730.
E. $145,348,733.

Suppose a company is currently manufacturing 39 smartphones per day. The variable cost is $120 per smartphone with daily fixed costs totaling $684. What is the least number of smartphones that need to be produced each day in order to sell the smartphones for $132 each and earn a profit? radioImage a) 55 radioImage b) 53 radioImage

According to the Bureau of Labor Statistics, there are about 3 million temp employees in the U.S. out of 150 million employees overall. What percentage of workers are temporary workers?

You have just purchased ten municipal bonds, each with a $1,000 par value, for $9,500. You purchased them immediately after the previous owner received semiannual coupon payments. The bond rate is 6.6% per year payable semiannually. You plan to hold the bonds for 5 years, selling them immediately after you receive the coupon payment. If your desired nominal yield is 12% per year compounded semiannually, what will be your minimum selling price for the bonds

Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has invested in a particular type of asset (or group of assets) to the amount of revenues the asset is generating. Examples of asset management ratios include the average collection period (also called the days sales outstanding ratio), the inventory turnover ratio, the fixed asset turnover ratio, and the total asset turnover ratio Consider the following case: Crawford Construction has a quick ratio of 2.00x, $36,225 in cash, $20,125 in accounts receivable, some inventory, total current assets of $80,500, and total current liabilities of $28,175. The company reported annual sales of $100,000 in the most recent annual report. Over the past year, how often did Crawford Construction sell and replace its inventory? O 4.14 x 4.55 x 2.86x 8.01 x The inventory turnover ratio across companies in the construction industry is 4.55x. Based on this information, which of the following statements is true for Crawford Construction? O Crawford Construction is holding less inventory per dollar of sales compared to the industry average O Crawford Construction is holding more inventory per dollar of sales compared to the industry average You are analyzing two companies that manufacture electronic toys-Like Games Inc. and Our Play Inc. Like Games was launched eight years ago, whereas Our Play is a relatively new company that has been in operation for only the past two years. However, both companies have an equal market share with sales of $100,000 each. You've collected company data to compare Like Games and Our Play. Last year, the average sales for all industry competitors was $255,000. As an analyst, you want to make comments on the expected performance of these two companies in the coming year. You've collected data from the companies' financial statements. This information is listed as follows: Data Collected (in dollars) Accounts receivable Net fixed assets Total assets Like Games 2,700 55,000 95,000 Our Play 3,900 80,000 125,000 Industry Average 3,850 216,750 234,600 Using this information, complete the following statements to include in your analysis days of sales tied up in receivables, which is much than the industry average. It takes Our Play 1. Our Play has time to collect cash from its customers than it takes Like Games. more than that of Our Play. This is because Like Games was formed eight years ago, so the 2. Like Games's fixed assets turnover ratio is acquisition cost of its fixed assets is recorded at historic values when the company bought its assets and has been depreciated since then Assuming that fixed assets prices (not book values) rose over the past six years due to inflation, Our Play paid a assets. amount for its fixed 3. The average total assets turnover in the electronic toys industry is 1.09x, which means that $1.09 of sales is being generated with every dollar of investment in assets. A are total assets turnover ratio indicates greater efficiency. Both companies' total assets turnover ratios than the industry average

Match each of the options above to the items below.

a. Revenues, expenses. and dividends,
b. List of permanent accounts and their balances.
c. Transfer of temporary balances to retained earnings.
d. List of permanent and temporary accounts and thejr balances.
e. Assets, liabilities, and stockholders' equity

1. Adjusted Trjal balance
2. Post-closing trial balance
3. Permanent accounts
4. Temporary accounts
5. Closing entries

Swifty Company showed the following balances at the end of its first year: Cash $3930 Prepaid insurance 6910 Accounts receivable 4990 Accounts payable 3960 Notes payable 5930 Owner’s Capital 2090 Owner’s Drawings 960 Revenues 32100 Expenses 24800 What did Swifty Company show as total credits on its trial balance? a. $44080 b. $49070 c. $45040 d. $9390

Decision Point: International Market Analysis You've done a considerable amount of research and have determined the follöwing Approximately 75% of the population in Ethiopia does not have electricity. Approximately 55% of the population in Nigeria does not have electricity. Nearly 40% of the population in Bangladesh does not have electricity. Nearly 25% of the population in Indonesia does not have electricity. Approximately 25% of the population in India does not have electricity. * Yoè recognize, however, that it would be wise to consider the population of those countries before determining which market(s) would have the greatest potential for your products, so you obtain that information as well. Your research reveals the following population estimates: .
Population of Ethiopia: 102,000,000 .
Population of Nigeria: 187,000,000 .
Population of Bangladesh: 163,000,000
Population of Indonesia: 260,000,000
Population of India: 1,327,000,000
Based on the information presented above, calculate the number of people in each country who do not have access to electricity.

service that provide when the customer is still in the store​