Answer:
$255 Favorable
Explanation:
Direct material price variance = (Actual price - Budgeted price) * Actual quantity
Direct material price variance = ($21,780/7,700 - $3) * 7,700
Direct material price variance = ($2.83 - $3) * 1,500
Direct material price variance = $0.17 * 1,500
Direct material price variance = $255 Favorable
As operations manager, you are concerned about being able to meet sales requirements in the coming months. You have just been given the following production report: JAN FEB MAR APR Units produced 2,250 1,750 2,750 2,950 Hours per machine 318 194 393 315 Number of machines 5 7 6 5 Find the average of the monthly productivity figures (units per machine hour).
Answer: 2.81 per hour
Explanation:
Average monthly productivity = (January productivity + February productivity + March productivity + April productivity) / 4
January productivity:
= Units produced / ( Hours per machine * Number of machines )
= 2,250 / ( 318 * 2 )
= 3.537
February productivity:
= 1,750/ ( 194 * 4 )
= 2.255
March productivity:
= 2,750 / ( 393 * 3 )
= 2.332
April productivity:
= 2,950/ ( 315 * 3)
= 3.121
Average monthly productivity = (3.537 + 2.255 + 2.332 + 3.121)/ 4
= 2.81 per hour
Jebali Company reports gross income of $340,000 and other property-related expenses of $229,000 and uses a depletion rate of 14%. Calculate Jebali's depletion allowance for the current year. $fill in the blank 1
Answer:
15,540
Explanation:
Depletion = depletion rate x (gross income - expenses)
0.14 x ($340,000 - $229,000) = 15,540
A journal entry for a payment for rent expense was posted as a debit to Salaries Expense and a credit to Cash. Which of the following statements correctly states the effect of the error on the trialâ balance?
A. The sum of the credits will equal the sum of the debits.
B. The sum of the debits will exceed the sum of the credits by .
C. The sum of the debits will exceed the sum of the credits by .
D. The sum of the credits will exceed the sum of the debits by .
Answer:
A). The sum of the credits will equal the sum of the debits.
Explanation:
journal entry journal entry can be regarded as record of the business transactions which is made in a accountingbooks of a business.
journal entry that is documented properly will contains correct date as well as amounts to be debited and description of the transaction, it contain amount to be credited as well as a unique reference number.Note that "There is equal amount of credit as well as debit in a journal entry"
Trial balance can be regarded as report that give lists of balances of all general ledger accounts in a firm at a particular point in time, there is compilation of all ledger balance into debit as well as credit account column totals. As rule in trial balance, the total of the debit balances as well as credit balances that is been extracted from the ledger must tally with each other.
During June, Buttrey Corporation incurred $84,000 of direct labor costs and $24,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a:
Answer:
debit to work in process of $84,000
Explanation:
Preparation of The journal entry to record the accrual of these wages
The journal entry to record the accrual of these wages would include a: DEBIT TO WORK IN PROCESS of 84,000
Debit work in process $84,000
Credit to factory payroll $84,000
(To record the accrual of wages)
Therefore The journal entry to record the accrual of these wages would include a: debit to work in process of $84,000
Which of the following is true regarding the corporate form of ownership?
A. All of these
B. Generally has the greatest ability accumulate capital.
C. Separate legal entity in the eyes of the law.
D. Most complex form of ownership.
Answer:
A. All of these
Explanation:
A corporation can be defined as a corporate organization that has facilities and owns or controls assets used for the production of goods and services in at least one country other than its headquarter (home office) located in its home country.
This ultimately implies that, a corporation is a corporate organization that owns or controls its business in two or more countries. Also, it is a body that comprises of a group of people such as directors, shareholders etc., who act as a single entity.
Generally, a corporate form of ownership is considered to be perpetual in nature.
Corporations can be sold to investors through stocks or shares, as a public entity. Thus, a company that engages in the sales of ownership shares to many investors is referred to as a corporation.
Some examples of multinational firms are Ap-ple, Volkswagen, G-oogle, Shoprite, Nestlé, Accenture, Shell BP, Chevron etc.
On a related note, an owner of a corporation is commonly referred to as a stockholder.
The true statements regarding the corporate form of ownership are;
I. Generally has the greatest ability accumulate capital.
II. Separate legal entity in the eyes of the law.
III. Most complex form of ownership.
A stock has an expected return of 16.1 percent, the risk-free rate is 6.45 percent, and the market risk premium is 7.2 percent. What must the beta of this stock be
Answer:
the beta of the stock is 1.34
Explanation:
The calculation of the beta of the stock should be
As we know that
Expected rate of return = Risk free rate + beta × market risk premium
16.1 = 6.45% + beta × 7.2%
16.1% - 6.45% = beta × 7.2%
9.65% = beta × 7.2%
So, the beta should be
= 9.65% ÷ 7.2%
= 1.34
Hence, the beta of the stock is 1.34
A frozen foods company changes an ingredient to meet a new government standard. This is an example of
O following a federal regulation.
O lowering prices for customers.
O reducing the risk for consumers.
o creating a new product.
Pattison Products, Inc., began operations in October and manufactured 40,000 units during the month with the following unit costs:
Direct materials $5.00
Direct labor 3.00
Variable overhead 1.50
Fixed overhead 7.00
Variable marketing cost 1.20
Fixed overhead per unit 1.20
Total fixed factory overhead is $280,000 per month. During October, 38,400 units were sold at a price of $24, and fixed marketing and administrative expenses were $130,500.
Required:
1. Calculate the cost of each unit using absorption costing.
2. How many units remain in ending inventory? What is the cost of ending inventory using absorption costing?
3. Prepare an absorption-costing income statement for Pattison Products, Inc., for the month of October.
Answer:
Following are the responses to the given question:
Explanation:
For question 1:
Calculating the cost per unit:
[tex]\text{Direct material}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$5\\\\\text{Direct labor} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$3\\\\\text{Variable overhead}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$1.5\\\\\text{Fixed overhead}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$7\\\\\text{Cost per unit}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$16.5\\\\[/tex]
For question 2:
Calculating the ending inventory units:
[tex]= \text{Beginning inventory + units produced - ending inventory}\\\\= 0+40,000-38,400\\\\= 1600\ units\\\\[/tex]
Calculating the cost for the Ending inventory:
[tex]=1600\ units \times \$16.5\\\\=\$26,400\\\\[/tex]
For question 3:
Calculating the absorption costing for the income statement:
Particular Amount
Sales [tex](38,400\times \$24)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$921,600[/tex]
-COGS[tex](38,400\times \$16.5)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$633,600[/tex]
Gross profit [tex]\$288,000[/tex]
Cost of variable marketing [tex](\$1.2\times 38,400)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$46,080[/tex]
marketing and administrative costs are fixed [tex]\$130,500[/tex]
Net income [tex]\$111,420[/tex]
analysis of the meaning of the bill of lading
Answer:
A bill of lading is a legal document issued by a carrier to a shipper that details the type, quantity, and destination of the goods being carried. 12 A bill of lading is a document of title, a receipt for shipped goods, and a contract between a carrier and shipper.
Explanation:
I searched it up if its not what your looking for my bad sorry.
Duane Miller wants to know what price home he can afford. His annual gross income is $67,200. He has no other debt expenses and expects property taxes and insurance to cost $320 per month. He knows he can get a 8.50%, 15 year mortgage so his mortgage payment factor is 9.85. He expects to make a 25% down payment. What is Duane's affordable home purchase price?
a. $107,929.
b. $158,793.
c. $138,207.
d. $209,139.
e. $179,665.
The three key pieces of information that are stated on a bond certificate are the: A. stated interest rate, the face value of the bond, and the maturity date. B. market interest rate, the price of the bond, and the maturity date. C. interest payment, the face value of the bond, and the credit rating of the company. D. interest payment, the issue price of the bond, and the credit rating of the company.
A bond certificate should contain stated interest rate, the face value of the bond, and the maturity date.
A bond certificate simply refers to a certificate of debt which is usually issued either by the government or a corporation. The main idea behind the issuing of a bond certificate is to raise money.
The bond certificate states the bond details e.g. the bond par value, interest rate, maturity date etc.
In conclusion, the correct option is A.
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Asian Lamp Company manufactures lamps. The estimated number of lamp sales for the last three months for the current year are as follows: Month Sales
October 10,000
November 14,000
December 13,000
Finished goods inventory at the end of September was 3,000 units. Ending finished goods inventory is budgeted to equal 25 percent of the next month's sales. Asian Lamp expects to sell the lamps for $25 each. January sales is projected at 16,000 lamps.
In going from the sales budget to the production budget, adjustments to the sales budget need to be made for
a. cash receipts.
b. finished goods inventories.
c. factory overhead costs.
d. selling expenses
Answer:
Asian Lamp Company
In going from the sales budget to the production budget, adjustments to the sales budget need to be made for
b. finished goods inventories.
Explanation:
a) Data and Calculations:
Sales Budget October November December January
Ending inventory 3,500 3,250 4,000
Estimated sales units 10,000 14,000 13,000 16,000
Units available for sale 13,500 17,250 17,000
Beginning inventory 3,000 3,500 3,250 4,000
Production units 10,500 13,750 13,750
Solving for PMT of an annuity) To pay for your child's education, you wish to have accumulated $ at the end of years. To do this you plan on depositing an equal amount into the bank at the end of each year. If the bank is willing to pay percent compounded annually, how much must you deposit each year to reach your goal?
Answer:
$783.87
Explanation:
Complete question "To pay for your child's education, you wish to have accumulated $10,000 at the end of 8 years. To dothis, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 13 percent compoundedannually, how much must you deposit each year to obtain yourgoal?"
NPER = 8
FV = 10,000
Rate = 13%
PV = 0
Future Value of Annuity = PMT(Rate, NPER, PV, FV)
Future Value of Annuity = PMT(13%, 8, 10000, 0)
Future Value of Annuity = 783.8671964727014
Future Value of Annuity = $783.87
So, one must deposit $783.87 each year to reach the goal.
34.Mr. Hoffman has always been cautious with his money, but over the past two weeks he has developed grandiose plans to bet his entire life savings on a single horse race. With unrestrained exuberance he has also been giving everybody he sees unsolicited advice on how to make millions in the stock market. Mr. Hoffman's behavior is most indicative of
Answer:
mania
Explanation:
From the question we are informed about Mr. Hoffman who has always been cautious with his money, but over the past two weeks he has developed grandiose plans to bet his entire life savings on a single horse race. With unrestrained exuberance he has also been giving everybody he sees unsolicited advice on how to make millions in the stock market. Mr. Hoffman's behavior is most indicative of mania. Mania can be regarded as psychological condition which is responsible for a person to be experiencing intense moods,delusions as well as unreasonable euphoria and hyperactivity. Mania can also be regarded as manic episodes, and this is a symptom of bipolar disorder, one that is experiencing this may not be able to sleep very well or eat well, they have experience of hallucinations as well as some perceptual disturbances.
HRH Collection Agency keeps a collection fee of 25% of any amounts collected. How much did the agency collect on a bad debt if the agency forwarded $2490 to a client?
Answer:
The agency collected $ 622.5.
Explanation:
Since HRH Collection Agency keeps a collection fee of 25% of any amounts collected, to determine how much did the agency collect on a bad debt if the agency forwarded $ 2490 to a client, the following calculation must be performed:
2490 x 0.25 = X
622.5 = X
Therefore, the agency collected $ 622.5.
Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: M N OUnit sales price$12 $10 $11Unit variable costs 9 8 9Total fixed costs are $585,000. The selling price per composite unit for the current sales mix (rounded to the nearest cent) is:
Answer:
Selling price per composite unit= $11.3
Explanation:
Giving the following information:
Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2.
Unit price and cost data are: M N OUnit sales price$12 $10 $11
First, we need to calculate the sales proportion for each product:
M= 3/6= 0.5
N= 1/6= 0.17
O= 2/6= 0.33
Now, the selling price per composite unit:
Selling price per composite unit= (0.5*12) + (0.17*10) + (0.33*11)
Selling price per composite unit= $11.3
A loan officer states, "Thousands of dollars can be saved by switching to a 15-year mortgage from a 30-year mortgage." Calculate the difference in payments on a 30-year mortgage at an interest rate of .75% a month versus a 15-year mortgage with an interest rate of .7% a month. Both mortgages are for $100,000 and have monthly payments. What is the difference in total dollars that will be paid to the lender under each loan?
Answer:
$113,465
Explanation:
Calculation to determine difference in total dollars that will be paid to the lender under each loan
First step is to Calculate the difference in payments on a 30-year mortgage at an interest rate of .75% a month
$100,000 = PMT([1 / (0.0075)] − 1 / {(0.0075)[(1.0075)]^30 × 12})
PMT = $804.62
Second step is to Calculate the difference in payments on a 15-year mortgage at an interest rate of .7% a month
$100,000 = PMT([1 / (0.007)] − 1 / {(0.007 )[ 1.007)]^15 × 12})
PMT = $ 978.87
Now let determine the Total difference
Total difference = ($804.62 × 12 × 30) − ($978.87 × 12 × 15)
Total difference= $113,465
Therefore difference in total dollars that will be paid to the lender under each loan is $113,465
Heath loves candy bars and gummy bears. After using his entire $30 budget at the local supermarket he finds that the marginal utility from the last candy bar he consumed was 30 and the last bag of gummy bears was 60. Assuming he has maximized his utility, what could be true about the prices of gummy bears and candy bars?
Answer:
Bag of gummy bears must cost twice as that of candy bar.
Explanation:
The cost of candy bar should be less than gummy bear because marginal utility of candy bar is lower than gummy bear. The candy bar will be consumed more therefore its price should be lower. When the price of good will be lower, it will be consumed more.
ABC Corp. issued $100,000 of bonds at a premium; as a result, the company: A. received more than $100,000. B. received less than $100,000. C. will pay the bondholders more money on the maturity date than it received on the issue date. D. received $100,000.
Answer:
A
Explanation:
If the yield to maturity is greater than the bonds coupon rate the bond is selling at a discount. Bond issuers would receive less than the face value of the bond as payment when the bond is sold
If the yield to maturity is less than the bonds coupon rate the bond is selling at a premium. Bond issuers would receive a greater sum than the face value of the bond as payment when the bond is sold
If a bond’s coupon rate is equal to its yield to maturity, then the bond is selling at par. Bond issuers would receive an amount equal to the face value of the bond as payment when the bond is sold
A campus deli serves 200 customers over its busy lunch period from 11:00 a.m. to 1:00 p.m. A quick count of the number of customers waiting in line and being served by the sandwich makers shows that an average of 10 customers are in process at any point in time. The average amount of time that a customer spends in process is _______ minutes (round to the nearest integer).
Answer: 2 hours
Explanation:
Roanoke Company produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (1,827 bars) are as follows: Ingredient Quantity Price Cocoa 600 lbs. $0.40 per lb. Sugar 180 lbs. $0.60 per lb. Milk 150 gal. $1.70 per gal. Determine the standard direct materials cost per bar of chocolate. If required, round to the nearest cent.
Answer:
Roanoke Company
The standard direct materials cost per bar of chocolate is:
= $0.33.
Explanation:
a) Data and Calculations:
A batch of chocolate = 1,827 bars
Standard Costs for a batch:
Ingredient Quantity Price
Cocoa 600 lbs. $0.40 per lb.
Sugar 180 lbs. $0.60 per lb.
Milk 150 gal. $1.70 per gal.
Ingredient Quantity Price Total Cost
Cocoa 600 lbs. $0.40 per lb. $240.00 (600 * $0.40)
Sugar 180 lbs. $0.60 per lb. 108.00 (180 * $0.60)
Milk 150 gal. $1.70 per gal. 255.00 (150 * $1.70)
Total cost of batch of chocolate = $603.00
Cost per bar = $0.33 ($603.00/1,827)
A company has the following budgeted information: Cash receipts: $542,000; Beginning cash balance: $10,000; Cash payments (including interest payments): $560,000; Outstanding loan balance: $100,000; Desired ending cash balance: $50,000. In order to maintain the desired cash balance, the company will need to: Multiple choice question. borrow $42,000 borrow $58,000 borrow $8,000 borrow $50,000
Answer:
Company A
In order to maintain the desired cash balance, the company will need to:
borrow $58,000
Explanation:
a) Data and Calculations:
Cash receipts: $542,000
Beginning cash balance: $10,000
Cash payments (including interest payments): $560,000
Outstanding loan balance: $100,000
Desired ending cash balance: $50,000
Beginning cash balance: $10,000
Cash receipts: $542,000
Cash available $552,000
Cash payments (including
interest payments): $560,000
Cash balance ($8,000)
Desired ending balance 50,000
Amount to borrow = $58,000
Blue Spruce University sells 4,500 season basketball tickets at $140 each for its 12-game home schedule. Give the entry to record (a) the sale of the season tickets and (b) the revenue recognized after playing the first home game.
Answer:
a. Total revenue received:
= 4,500 * 140
= $630,000
Date Account Title Debit Credit
XX-XX-XXXX Cash $630,000
Unearned revenue $630,000
Revenue is unearned because the games have not been played yet therefore Blue Spruce University has not provided the service for which it was paid and has not earned the revenue.
b. The revenue per game is:
= 630,000 / 12 games
= $52,500
Date Account Title Debit Credit
XX-XX-XXXX Unearned Revenue $52,500
Revenue - Ticket Sales $52,500
Which of the following is a step in the creation of an Operational Definition?
a. select a sponsor
b. conduct a test to check for potential misinterpretation
c. list the suppliers
d. establish the problem
The answer to the question is D: Establish the problem.
The operational definition gives a meaning to used terminologies and procedures.
In order to create an operational definition, the following steps are necessary for one to take:
You have to have an identification of the features that you want to measure, this is the same as the problem establishment.The next step lies in the selection of the instrument that you intend to useYou have to give a definition of the method of testingStatement of the criteria for decision makingDocumentation of the definitionLastly you have to test the operational definitionRead more at https://brainly.com/question/13402810?referrer=searchResults
On July 1, 2022, Cullumber Company sells equipment for $146000. The equipment originally cost $480000, had an estimated 5-year life and an expected salvage value of $50000. The Accumulated Depreciation account had a balance of $301000 on January 1, 2022, using the straight-line method. The gain or loss on disposal is
Answer:
Accumulated depreciation = ($480,000 - $50,000)/5 *6/12 + $301,000
Accumulated depreciation = $43,000 + $301,000
Accumulated depreciation = $344,000
Date Account titles & Explanations Debit Credit
Cash $146,000
Accumulated depreciation $344,000
Gain on disposal $10,000
Equipment $480,000
So, the gain on disposal is $10,000
You believe you must withdraw $12,000 per month during retirement. You plan to be retired for 30 years. Assuming your money will earn 4.5% during retirement and also assuming that you will not adjust your withdrawals for inflation, how much money will you need to have on hand on the day you retire, in order to fund your retirement?
a. $1,756,245.98.
b. $1,321,788.32.
c. $12,133,524.55.
d. $2,368,333.91.
Assume that an analyst is using the constant dividend growth model to value a stock. Which of the following scenarios would be certain to cause her to decrease her estimate of the stock's value (assuming, of course, that all other factors are held constant)?
A. She believes the company has become riskier, and therefore increases her required rate of return for the stock.
B. She increases her estimate of the company’s next year’s dividend.
C. She increase her estimate of the expected annual rate of growth in the company’s dividends.
D. She decreases her required rate of return for the stock.
E. None of the above would cause her to decrease her estimate of the stock’s value.
Answer: A. She believes the company has become riskier, and therefore increases her required rate of return for the stock.
Explanation:
The formula for the Constant dividend growth model of valuing stock is:
= Next dividend / (Required return - growth rate)
From the formula above, one can tell that if the required return is higher, it would result in a lower value for stock because it would divide the numerator more.
If the analyst believes that the company is riskier and increases the required return, the value would therefore reduce if other measures are kept constant.
If the price exceeds the average variable cost but is less than the average total cost, a firm Group of answer choices should further differentiate its product. is making some profit but less than maximum profit. should stay in business for a while longer until its fixed costs expire. should shut down
Answer:
should stay in business for a while longer until its fixed costs expire.
Explanation:
price exceeds the average variable cost, the firm should continue to operate in the short run
If price is less than the average total cost in the long run, the firm should exit in the long run
Louis Vuitton decides to invest $80,000,000 into a shoe factory in Milan from its money market account. The money market account was earning 1% in interest per year or $800,000. Louis Vuitton could have also earned $200,000 from investing the $80,000,000 in a handbag factory. What is its opportunity cost for Louis Vuitton based off of the information in presented this situation?
a. $200,000
b. $1,000,000
c. $80,000,000
d. $800,000
Answer:
d. $800,000
Explanation:
In opportunity cost parlance, we talk about the cost/benefit forgone of the next best alternative, not for all alternatives forgone.
The benefit forgone of the next best alternative is the $800,000 that could have been earned if the funds have been invested in the money market account, in other words, $800,000.
Higher customer satisfaction and more efficient use of resources are impacts of businesses that operate with a _______
a: cost saving motive
b: customer service motive
c: efficiency motive
d: profit motive
Answer:
customer service motive
Answer:
I believe it's C: efficiency motive.
Explanation:
I did inspect element on course hero for the same question, and the answer was highlighted. Additionally, the question seems to highlight efficient uses of resources purposefully in businesses, so it seems that efficiency motive also goes hand in hand with that.
