Answer:
1.49
Explanation:
Calculation to determine Transic's current ratio for 2017
Using this formula
2017 Current ratio=2017 Total Current Assets /2017 Current Liabilities
Let plug in the formula
2017 Current ratio=$107,000/$ 72,000
2017 Current ratio=1.486
2017 Current ratio=1.49 (Approximately)
Therefore Transic's current ratio for 2017 is 1.49
Smith and Sons, Inc. Income Statement (in millions)
2016 2015
Net sales 10,300 9,800
Cost of goods sold (5,500) (5,200)
Gross profit 4,800 4,600
Selling and administrative expenses (2,800) (2,700)
Income from operations 2,000 1,900
Interest expense (300) (250)
Income before income taxes 1,700 1,650
Income tax expense (420) (400)
Net income 1,280 1,250
Smith and Sons, Inc. Balance Sheet
Assets
Current assets
Cash and cash equivalents 450 650
Accounts receivable 900 800
Inventory 750 900
Other current assets 400 250
Total current assets 2,500 2,600
Property, plant & equipment, net 2,350 2,250
Other assets 5,700 5,900
Total Assets 10,550 10,750
Liabilities and Stockholders' Equity
Current liabilities 3,250 3,150
Long-term liabilities 5,000 5,400
Total liabilities 8,250 8,550
Stockholders' equity-common 2,300 2,200
Total Liabilities and Stockholders' Equity 10,550 10,750
Required:
Calculate the quick ratio for Smith & Sons, Inc., for 2015 and 2016.
Answer:
2015 Quick Ratio 0.54
2016 Quick Ratio 0.54
Explanation:
Calculation to determine the quick ratio for Smith & Sons, Inc., for 2015 and 2016
Using this formula
Quick Ratio = Quick assets/Current liabilities
Let plug in the formula
2015 Quick Ratio = (2,600-900)/3150
2015 Quick Ratio= 0.54
2016 Quick Ratio = (2500-750)/3,250
2016 Quick Ratio = 0.54
Therefore the quick ratio for Smith & Sons, Inc., for 2015 is 0.54 and 2016 is 0.54
On January 1 of this year, Nowell Company issued bonds with a face value of $240,000 and a coupon rate of 6.0 percent. The bonds mature in five years and pay interest semiannually every June 30 and December 31. When the bonds were sold, the annual market rate of interest was 6.0%.
1. What was the issue price on January 1 of this year?
2. What amount of interest expense should be recorded on June 30 and December 31 of this year?
3. What amount of cash is owed to investors on June 30 and December 31 of this year?
4. What is the book value of the bonds on December 31 of this year, December 31 of next year?
Answer:
1. What was the issue price on January 1 of this year?
since the coupon rate was 6% and the market rate was the same, the bonds will be sold at par, so their issue price = $240,000
2. What amount of interest expense should be recorded on June 30 and December 31 of this year?
interest expense = coupon rate = $7,200 (for both June 30 and December 31)
3. What amount of cash is owed to investors on June 30 and December 31 of this year?
Face value = $240,000
4. What is the book value of the bonds on December 31 of this year, December 31 of next year?
Face value = $240,000
The issue price is $240,000, interest expenses will be $7,200 each time. the company owes the investor the interest and the book value is $240,000.
What is face value?Face value is the original cost with which the shares are shown/ registered on the stock exchange. It is the amount that the company has to pay to the holder of the bonds in maturity, it is the par value for bonds.
1. The issue price of 6% coupon rate bonds is $240,000.
2. The amount of interest expense that should be recorded on June 30 and December 31
$240,000 X 6%=$14,400annually
but it is paid semi-annually so=$14,400/2= $7,200 for each time
3. The amount owed to the investor by the company will be the interest amount i.e $7,200 each on June 30 and December 31.
4. The book value of the bond will be the face value for which it was issued i.e $240,000.
Therefore the above statements aptly explain the facts.
Learn more about face value here:
https://brainly.com/question/14294215
Ellis Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Raw materials purchased on account $475,000 Raw materials (all direct) requisitioned for use in production $476,000 Direct labor cost $640,000 Manufacturing overhead: Indirect labor cost $174,000 Other manufacturing overhead costs incurred $498,000 Cost of goods manufactured $1,469,000 Cost of goods sold (unadjusted) $1,430,000 6. The journal entry to record the transfer of completed goods from Work in Process to Finished Goods is:
Answer:
It is the Cost of Goods Manufactured that should be transferred to the Finished Goods account. As both of them are asset account, adding to the Finished Goods account would debit it and taking from the Work in Process account would credit it.
Date Account Title Debit Credit
XX-XX-XXX Finished Goods $1,469,000
Work in Process $1,469,000
outlinr the selection procedure as a huma resource activity
Answer and Explanation:
A selection process as a human resources activity must be outlined, starting with the filling out of a form by the candidates for the vacancy that they are being offered through the selection. This form must contain basic information that will allow the human resources department to select people who have the minimum requirements necessary to participate in the next phase of the process. The next phase should be an interview, to get to know the candidates, assess their communication skills and ask incisive questions about the skills they have and the level of interest in the vacancy they are competing for. This is the key moment in the process, where the human resources department will be able to determine who deserves to be selected.
Two companies, A and B, both have $1 million in assets, earnings before interest and taxes (EBIT) of $160,000, and the same tax rate. Company A is all equity financed, and Company B is 50% debt financed and 50% equity financed. If Company B's pretax cost of debt is 8%, then Company A will have a ROA that is _____ and a ROE that is _____ than Company B's. a. Option D b. Option C c. Option B d. Option A
Answer: higher; lower
Explanation:
EBIT for A = 160,000
Equity of A = 1,000,000
ROA of A = 160,000/1,000,000 = 0.16 = 16%
ROE of A = 160,000/1,000,000 = 0.16 = 16%
EBIT for B = 160000 - (1000000 × 50% × 8%) = 120000
Equity of B = 1000000 × 50% = 500,000
ROA of B = 120000/1000000 = 0.12 = 12%
ROE of B = 120000/500000 = 0.24 = 24%
From the above, we can see that Company A has a higher ROA but had a lesser ROE THAN B
In July, one of the processing departments at Okamura Corporation had beginning work in process inventory of $24,000 and ending work in process inventory of $29,000. During the month, the cost of units transferred out from the department was $159,000. In the department's cost reconciliation report for July, the total cost to be accounted for under the weighted-average method would be:
Answer: $188000
Explanation:
Based on the information given in the question, the total cost to be accounted for under the weighted-average method would be calculated thus:
Cost of ending work in process inventory = $29,000
Add: Cost of units transferred out = $159,000
Therefore, the total cost to be accounted for will be;
= $29000 + $159000
= $188000
Peter and Lois are planning to open a restaurant that will feature Lois's world-renowned meatloaf. Everyone who has tasted Lois's meatloaf has ranted and raved that it is the most delectable meal they have ever had. Luckily for Peter and Lois, the meatloaf is made using a secret recipe that no one else in the whole world knows about. The only detail of the plan that troubles them is that neither of them knows anything about running a business. In S.W.O.T. Analysis, Lois's secret meatloaf recipe is a _____ and the couple's ignorance about running a business is a _____ in their situation analysis.
Answer:
Peter and Lois Restaurant
In S.W.O.T. Analysis, Lois's secret meatloaf recipe is a _strength____ and the couple's ignorance about running a business is a __weakness___ in their situation analysis.
Explanation:
SWOT means Strengths, Weaknesses, Opportunities, and Threats. Strengths and Weaknesses refer to internal capabilities or resources that are available or lacking. Opportunities and Threats refer to external returns and risks that can elevate or threaten the achievement of business goals.
Dwyer Company reported the following results for the year ended December 31, 2007, its first year of operations: 2007 Income (per books before income taxes) $ 1,500,000 Taxable income 2,400,000 The disparity between book income and taxable income is attributable to a temporary difference which will reverse in 2008. What should Dwyer record as a net deferred tax asset or liability for the year ended December 31, 2007, assuming that the enacted tax rates in effect are 40% in 2007 and 35% in 2008?
Answer: $315,000 deferred tax asset
Explanation:
The amount that Dwyer should record as a net deferred tax asset or liability for the year ended December 31, 2007 will be calculated thus:
= ($2400000 – $1500000) × 35%
= $900000 × 35%
= $900000 × 35/100
= $900000 × 0.35
= $315000.
Therefore, the answer is $315,000 deferred tax asset
Lester sold a warehouse with an original cost of $150,000 for $230,000. The warehouse had accumulated depreciation of $40,000. The recognized gain on the sale was $ . The amount of the gain that is unrecaptured Section 1250 gain is $ and will be taxed at a maximum rate of percent. The remaining $ will be taxed at a maximum rate of 20%.
Answer:
Recognized Gain:
= Selling price - Net book value
= 230,000 - (150,000 - 40,000)
= $120,000
The amount of the gain that is unrecaptured Section 1250 gain:
= Selling Price - Cost of asset - Accumulated depreciation
= 230,000 - 150,000 - 40,000
= $40,000
Tax will be maximum rate of 25% as per IRS rules.
The cash to be charged at maximum of 20% is:
= Gain - Section 1250 gain
= 120,000 - 40,000
= $80,000
Understanding how shirking decreases team output
Eleanor sells bottled water from a small stand by the beach. On the last day of summer vacation, many people are on the beach, and Eleanor realizes that she can make a lot more money this day if she hires someone to walk up and down the beach selling water. She finds a college student named Darnell and makes him the following offer: They'll each sell water all day and split their earnings (revenue minus the cost of water) equally at the end of the day. Eleanor knows that if they both work hard, Darnell will earn $110 on the beach and Eleanor will earn $240 at her stand, so they will each take home half of their total revenue: $110+$2402=$175$110+$2402=$175. If Darnell shirks, he'll generate only $60 in earnings. Eleanor does not know that Darnell estimates his personal cost (or disutility) of working hard as opposed to shirking at $30.
Once out of Eleanor's sight, Darnell faces a dilemma: work hard (put in full effort) or shirk (put in low effort).
In terms of Darnell's total utility, it is worse for him to_____ .
Taking into account the loss in utility that working hard brings to Darnell, Eleanor and Darnell together _____ better off if Darnell shirks instead of working hard.
Eleanor knows Darnell will shirk if unsupervised. She considers hiring her good friend Carrie to keep an eye on Darnell. The most Eleanor should be willing to pay Carrie to supervise Darnell, assuming supervision is sufficient to encourage Darnell to work hard, is _______ .
It turns out that Eleanor's friend Carrue is unavilable that day, so Eleanor cannot find a reliable person to watch Darnell. Which of the following arrangements will ensure that Darnell works hard without making Eleanor any worse off than she is when Darnell shirks?
A. Allow Darnell to keep 75% of the revenue from the bottles of water he sells instead of 50%
B. Allow Darnell to keep 57% of the revenue from the bottles of water he sells instead of 50%
C. Pay Darnell $70, regardless of how many bottles of water he sells
D. Make Darnell promise to work hard
Answer:
Shirk
are not better of
$30
A. Allow Darnell to keep 75% of the revenue from the bottles of water he sells instead of 50%
Explanation:
Darnell and Eleanor both can work together and their combined total earning will be high. Darnell estimates that his shirking is cost at $30 then Eleanor can pay to supervisor a maximum of $30 for the supervision service for Darnell. The best choice is to hire Carrue as a supervisor for Darnell. If Carrue is not available someday then Darnell can be motivated by allowing him to keep 75% of the revenue generated from him.
how can a writer be grief when writing professional letters
A. By adding a writer be brief when writing professional letters
B. By adding background information
C. By avoiding words that end in " Ize or ton"
D. By writing a concise letters that addresses your purpose
Answer:
D. By writing a concise letters that addresses your purpose
Explanation:
Got it right.
Bill Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the current year.
July 5 Purchased merchandise on account from Wheeler Warehouse, $4,300.
8 Paid freight charge on merchandise purchased, $230.
12 Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise
cost $2,500.
15 Received a credit memo from Wheeler Warehouse for merchandise, $670.
22 Issued a credit memo to Big Time Spoiler for merchandise returned, $820.
The cost of the merchandise is $550.
Required:
1. Journalize the above transactions in a general journal using the periodic inventory method.
2. Journalize the above transactions in a general journal using the perpetual inventory method.
Answer:
The solution to these question is defined in the attached file please find it.
Explanation:
vProblem 10-4 Partnership Formation (LO 10.2) Elaine's original basis in the Hornbeam Partnership was $40,000. Her share of the taxable income from the partnership since she purchased the interest has been $70,000, and Elaine has received $80,000 in cash distributions from the partnership. Elaine did not recognize any gains as a result of the distributions. In the current year, Hornbeam also allocated $1,000 of tax-exempt interest to Elaine. Calculate Elaine's current basis in her partnership interest. $fill in the blank 1
Answer: $31000
Explanation:
Elaine's current basis in her partnership interest will be calculated as:
= Value of original basis + (interest purchased - Cash received) + tax exempt interest
= $40000 + ($70000 - $80000) + $1000
= $40000 - $10000 + $1000
= $31000
what is the role of education to become a manager ?
Answer:
There are several ways to become a Business Manager, but most organisations require a minimum of a bachelor's degree in business management.
These are usually 3-year courses covering topics such as management theory and practice, budgeting and planning, leadership skills and organisational behaviour.
Worthington Machining must decide whether to purchase Process A with specialized metal folding equipment needing two employees to operate it or Process B with general purpose folding equipment requiring five employees. Process A requires a fixed cost of $1,430,000 and a variable cost of $14.32 per metal panel. Process B requires a fixed cost of $820,000 and a variable cost of $20.05. Process A is more automated than Process B. What is the break-even quantity between these two processes
Answer:
The indifference point is 106,457 units.
Explanation:
Giving the following information:
Process A:
Fixed cost= $1,430,000
Variable cost= $14.32 per metal panel.
Process B:
Fixed cost= $820,000
Variable cost= $20.05 per metal panel.
To calculate the indifference point between two processes, first, we need to formulate the total cost equation for each process:
Process A:
Total cost= 1,430,000 + 14.32*x
Process B:
Total cost= 820,000 + 20.05*x
x= number of units
Now, we need to equal both formulas and isolate x:
1,430,000 + 14.32x = 820,000 + 20.05x
610,000 = 5.73x
x= 106,457
The indifference point is 106,457 units.
You have decided to start a lawn service business to help pay your tuition so that you can complete your undergraduate accounting degree. You plan to provide various lawn maintenance services that will include lawn mowing services, aeration and fertilization. You and two of your friends have agreed to work for you in this new business endeavor. Which of the following would best describe organizing for your new business?
A. Preparing monthly billing statements for clients.
B. Determining the types of lawn services that you will provide for clients.
C. Providing employees with the authority to make decisions regarding a client.
D. Hiring and training new employees.
Answer:
B. Determining the types of lawn services that you will provide for clients.
Explanation:
As can be seen in the question above, you have decided to open a gardening business. However, as we know, gardening is very broad and many services can be associated with it. In order not to leave your business disorganized and to define the service you are offering, you have organized your business by determining the types of lawn services that your business offers, such as lawn mowing, aeration and fertilization.
Crane Sporting Goods expects to have earnings per share of $6 in the coming year. Rather than reinvest these earnings and grow, the firm plans to pay out all of its earnings as a dividend. With these expectations of no growth, Crane's current share price is $60 and the cost of equity capital is 10%. Suppose Crane could cut its divident payout rate to 75% for the foreseeable future and use the retained earnings to open new stores. The return on investment in these stores is expected to be 12%. if we assume that the risk of these new investments is the same as the risk of its existing investments, then the firm's equity cost of capital is unchanged. What effect would this new policy have on Crane's stock price
Answer:
Stock price increases
Explanation:
We need to determine the stock price with the new policy
Stock price can be determined using the constant growth dividend model
according to the constant dividend growth model
price = d1 / (r - g)
d1 = next dividend to be paid
r = cost of equity
g = growth rate
growth rate = retention rate x Return on investment
Retention rate = 1 - payout ratio = 1 - 0.75 = 0.25
growth rate = 0.25 x 12 = 3%
Stock price = 6/(0.10 - 0.03) = $85.71
Under the new policy, stock price increases
According to the literature on organizational conflict, constructive conflict Question 1 options: tends to produce beneficial outcomes, particularly better decision making. is the main source of conflict in organizations. is the only conflict management style that has high assertiveness and low cooperativeness. is one of the most common outcomes of organizational conflict.
Answer:
tends to produce beneficial outcomes, particularly better decision making.
Explanation:
Constructive conflict occurs when there are problems that need to be solved by a team in the organization, and thus influence people to cooperate with creative and innovative ideas for solving the problem that can help to produce beneficial results, especially better decisions.
Constructive conflict helps the organization to be more productive by aggregating different ideas about the same problem and focusing on the solution to the resolution, which increases the sense of team integration, participation and understanding of different alternatives that will be improved so that the organization has the best decision making for such a problem.
Wildhorse Corporation factors $266,800 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kathleen Battle Financing will collect the receivables. The receivables records are transferred to Kathleen Battle Financing on August 15, 2020. Kathleen Battle Financing assesses a finance charge of 2% of the amount of accounts receivable and also reserves an amount equal to 4% of accounts receivable to cover probable adjustments.
Assume that the conditions are met for the transfer of receivables with recourse to be accounted for as a sale. Prepare the journal entry on August 15, 2014, for Beyoncé to record the sale of receivables, assuming the recourse liability has a fair value of $4,650. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date Account Titles and Explanation Debit Credit August 15, 2014
Answer:
Denit Cash for $250,792; Debit Due from factors for $10,672; Debit Loss on Sale of receivables for $9,986; Credit Recourse liability for $4,650; and Credit Accounts receivable for $266,800.
Explanation:
The following are calculated first before preparing the journal entry:
Cash received = Factored amount * (100% - Finance charge percentage - Percentage reserved for probable adjustments) = $266,800 * (100% - 2% - 4%) = $250,792
Due from factors = Factored amount * Percentage reserved for probable adjustments = $266,800 * 4% = $10,672
Loss on Sale of receivables = (Factored amount * Finance charge percentage) + Fair value of recourse liability = ($266,800 * 2%) + $4,650 = $9,986
The journal entry will now appear as follows:
Date Account Titles and Explanation Debit ($) Credit ($)
15 Aug 2014 Cash 250,792
Due from factors 10,672
Loss on Sale of receivables 9,986
Recourse liability 4,650
Accounts receivable 266,800
(To record the sale of receivables.)
Teal Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $3,420,000 on March 1, $2,280,000 on June 1, and $5,700,000 on December 31. Teal Company borrowed $1,900,000 on March 1 on a 5-year, 10% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 5-year, $3,800,000 note payable and an 11%, 4-year, $6,650,000 note payable. Compute avoidable interest for Teal Company. Use the weighted-average interest rate for interest capitalization purposes
Answer:
$418,790
Explanation:
Computation for the avoidable interest for Teal Company using the weighted-average interest rate for interest capitalization purposes
First step is to calculate the Expenditure for the year
Expenditure for the year
Mar-01 $3,420,000*10/12=$2,850,000
Jun-01 $2,280,000 *7 12=$1,064,000
Dec-31 $5,700,000*0/ 12=$ -
Total $ 11,400,000 $3,914,000
Second step is to compute the Weighted Average rate of all debt
Weighted Average rate of all debt:-
$3,800,000*12%=$456,000
$6,650,000*11%=$731,500
Total $10,450,000 $1,187,500
Weighted Average rate of all debt=($1,187,500 / $10,450,000)
Weighted Average rate of all debt = 11.36%
Now let compute the avoidable interest
AVOIDABLE INTEREST
$3,914,000
Less:$1,900,000*10%=$190,000
Balance$ 2,014,000*11.36% =$228,790
($3,914,000-$1,900,000=$ 2,014,000)
Avoidable Interest =$418,790
($190,000+$228,790)
Therefore the avoidable interest for Teal Company using the weighted-average interest rate for interest capitalization purposes will be $418,790
Help! Select the qualification that is best demonstrated in each example.
Melanie is a fitness instructor who encourages her students to achieve their goals. ____
1. Ability to handle money
2. Accuracy and attention to detail
3. Leadership skills
4. Organizational skills
Jacob counts and organizes cash at a casino. _____
1. Maintenance of safety
2. Communication skills
3. Teamwork skills
4. Ability to handle money
Adra is proud that she has never had an accident while running a ride at an amusement park. ______
1. Organizational skills
2. Leadership skills
3. Ability to operate equipment safety
4. Communication skills
Juan plans fun activities for groups of people. _____
1. Communication skills
2. Accuracy
3. Teamwork skills
4. Organizational
Answer:
What ghazaryanelen101 Said ↑↑↑↑
Explanation:
Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. Merchandise Freight Paid by Seller Terms Returns and Allowances a. $14,200 - FOB shipping point, 1/10, n/30 $700 b. 10,700 $400 FOB shipping point, 2/10, n/30 1,300 c. 5,700 - FOB destination, 1/10, n/30 500 d. 3,800 200 FOB shipping point, 2/10, n/30 500 e. 1,500 - FOB destination, 2/10, n/30 -
Answer:
a. Amounts to be Paid on Invoice = $12,150
b. Amounts to be Paid on Invoice = $7,920
c. Amounts to be Paid on Invoice = $4,680
d. Amounts to be Paid on Invoice = $2,840
e. Amounts to be Paid on Invoice = $1,200
Explanation:
a. $14,200 - FOB shipping point, 1/10, n/30 $700
Amounts to be Paid on Invoice = ($14,200 - $700) * (10/10 - 1/10) = $12,150
b. 10,700 $400 FOB shipping point, 2/10, n/30 1,300
Amounts to be Paid on Invoice = (($10,700 - $1,300) * (10/10 - 2/10)) + $400 = $7,920
c. 5,700 - FOB destination, 1/10, n/30 500
Amounts to be Paid on Invoice = ($5,700 - $500) * (10/10 - 1/10) = $4,680
d. 3,800 200 FOB shipping point, 2/10, n/30 500
Amounts to be Paid on Invoice = (($3,800 - $500) * (10/10 - 2/10)) + $200 = $2,840
e. 1,500 - FOB destination, 2/10, n/30 -
Amounts to be Paid on Invoice = $1,500 * (10/10 - 2/10) = $1,200
The CEO is considering your recommendations, and it will take time to make some of these changes. However, you know that it's not just the structure of the department that is stifling creativity. You believe that the culture could be significantly improved, and you want to start working on these issues ASAP. It will be a slow process to make some of these changes, but the time to get started is now. You have a lot of ideas, but only a few should be implemented initially. Which three do you think should be started immediately
Explanation:
1- Hire an organizational consultancy specialized in diagnostics and solutions to improve the organizational culture, as an external view can be beneficial to perceive the organization free of bias.
2- Planning of the teams' routine and better redesign and definition of the functions of each employee, seeking greater integration and personal satisfaction with the work, which increases productivity and the valorization of the work.
3- Implementing changes in the way of communicating with the teams and providing feedback, clear and objective communication is essential for there to be a correct understanding of what is expected of each team and how to carry out the tasks to achieve the organizational objectives and goals.
Suppose the initial inflation rate and inflation target are both 2%, that the real federal funds rate is 2%, and that the economy is at the full employment level of output. According the Taylor Rule, the federal funds target should be . Suppose now that the inflation rate changes to 6%. The Taylor Rule now prescribes that the federal funds target should be
Answer:
a. 4%
b. 10%
Explanation:
1. Federal funds target = Real Federal funds rate + Inflation rate + 1/2( inflation gap) + 1/2(output gap)
Inflation gap = Current inflation - inflation target = 2% - 2% = 0
Economy is at full employment so output gap is 0.
= 2% + 2% + 1/2(0) + 1/2 (0)
= 4%
2. Federal funds target = Real Federal funds rate + Inflation rate + 1/2( inflation gap) + 1/2(output gap)
= 2% + 6% + 1/2(6% - 2%) + 1/2(0)
= 10%
Budgeted Actual Sales volume 100 units 110 units Sales price $50 per unit $55 per unit Unit VC $30 per unit $33 per unit Input price for DL $10 per hour $12 per hour Input quantity per unit for DL 1.5 hours per unit 2 hours per unit Compute input efficiency variance for DL Group of answer choices $100 favorable $550 favorable $550 unfavorable 0.5 hours unfavorable $100 unfavorable
Answer:
Direct labor time (efficiency) variance= $550 unfavorable
Explanation:
Giving the following formula:
DL $10 per hour $12 per hour
Input quantity per unit for DL 1.5 hours per unit 2 hours per unit
To calculate the direct labor efficiency variance, we need to use the following formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (110*1.5 - 110*2)*10
Direct labor time (efficiency) variance= $550 unfavorable
Part of the screening process when choosing which markets to expand to involves gathering information on local markets. One way to gain information is by participating in trade fairs and trade missions. However, companies will often need additional information on markets that require further research. Collecting primary data in foreign markets can present some challenges in researchers especially because of cultural and technical differences between the markets. Identify whether each statement about the research process is most kikely to be associated with cuftural differences between markets or technical differences.
a. The meaning of words can change from one region to another.
b. Research instruments may need to be translated.
c. Social desirability bias may exist.
d. Street signs may be unreadable.
e. Mail service may be unreliable.
1. Cultural Differences
2. Technical Differences
Answer:
Cultural and Technical Differences Between Markets
a. Cultural
b. Cultural
c. Cultural
d. Technical
e. Technical
Explanation:
1. Cultural Differences: Cultural differences are the unique beliefs, behaviors, languages, practices, and expressions arising from differences in ethnic, racial, or national origins. For example, if the researcher is not versed in the local language, the research instruments or the researcher's answers will require translation.
2. Technical Differences: These differences arise from educational, legal, scientific, engineering, and business practice differences. For example, the "street signs may be unreadable" because there are no updated maps.
Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.4 million cash on October 1, 2021, to provide working capital for anticipated expansion. Precision signs a one-year, 9% promissory note to Midwest Bank under a prearranged short-term line of credit. Interest on the note is payable at maturity. Each firm has a December 31 year-end.
Required:
a. Prepare the journal entries on October 1, 2021, to record the issuance of the note.
b. Record the adjustments on December 31, 2021.
c. Prepare the journal entries on September 30, 2021, to record payment of the notes payable at maturity.
Answer:
a. Precision Castparts
Dr Cash $39.4 million
Cr Notes Payable $39.4 million
Midwest Bank
Dr Notes Receivable $39.4 million
Cr Cash $39.4 million
b. Precision Castparts
Dr Interest expense $886,500
Cr Interest payable $886,500
Midwest Bank
Dr Interest receivable $886,500
Cr Interest revenue $886,500
c. Precision Castparts
Dr Notes payable $39.4 million
Dr Interest expense $2,659,500
Dr Interest payable $886,500
Cr Cash $42,946,000
Midwest Bank
Dr Cash $42,946,000
Cr Notes receivable $39.4 million
Cr Interest revenue $2,659,500
Cr Interest receivable $886,500
Explanation:
a. Preparation of the journal entries on October 1, 2021, to record the issuance of the note.
Precision Castparts
Dr Cash $39.4 million
Cr Notes Payable $39.4 million
Midwest Bank
Dr Notes Receivable $39.4 million
Cr Cash $39.4 million
b. Preparation of the journal entry to Record the adjustments on December 31, 2021.
Precision Castparts
Dr Interest expense $886,500 ($39.4 million x 9% x 3/12)
Cr Interest payable $886,500
Midwest Bank
Dr Interest receivable $886,500
Cr Interest revenue $886,500
($39.4 million x 9% x 3/12)
c. Preparation of the journal entries on September 30, 2021, to record payment of the notes payable at maturity.
Precision Castparts
Dr Notes payable $39.4 million
Dr Interest expense $2,659,500($39.4 million x 9% x 9/12)
Dr Interest payable $886,500
($39.4 million x 9% x 3/12)
Cr Cash $42,946,000
($39.4 million+$2,659,500+$886,500)
Midwest Bank
Dr Cash $42,946,000
($39.4 million+$2,659,500+$886,500)
Cr Notes receivable $39.4 million
Cr Interest revenue $2,659,500($39.4 million x 9% x 9/12)
Cr Interest receivable $886,500
($39.4 million x 9% x 3/12)
Fiona is a manager who believes in Theory Y of leadership. What does she assume about her employees according to this theory? A. Employees have to be reprimanded for bad ideas. B. Employees are self-motivated in their work. C. Employees need constant supervision. D. Employees are always ready to leave the company.
Answer:
b
Explanation:
Employees are self-motivated in their work.
The major benefits to a S.W.O.T Analysis are: a. Simple to use. b. Reduces the costs of strategic planning. c. Flexible. d. Integrates and synthesizes diverse information. e. Fosters collaboration among managers of different functional areas. f. ALL OF THE ABOVE. g. NONE OF THE ABOVE.
Answer:
f. ALL OF THE ABOVE
Explanation:
SWOT analysis can be regarded as
strategic planning technique that is been utilized to identify opportunities,
strengths as well as weaknesses, and threats associated with business competition as well as project planning of individuals or organization.
The major benefits to a S.W.O.T Analysis includes
✓Reduces the costs of strategic planning.
✓Simple to use.
✓Flexible
✓Fosters collaboration among managers of different functional areas.
✓Integrates and synthesizes diverse information.
William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2020 AGI before the IRA contribution deduction is $66,000 (all earned income). (Leave no answer blank. Enter zero if applicable.) a. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2020?
Answer: $6,000
Explanation:
As per IRS deduction rules in 2020, the maximum deductible IRA contribution for a person who does not participate in an employer-sponsored plan is $6,000.
That is therefore the maximum deductible that William can make in this scenario.