Answer:
Wight Inc.
1. The cash required for payments on accounts in May
= $383,500
2. The cash required for payments on accounts is:
= $412,975
Explanation:
a) Data and Calculations:
April May June
Expected purchases on account $374,000 $412,000 $415,900
Cash Payments:
Month of billing (25%) $93,500 $103,000 $103,975
Next month (75%) 280,500 309,000
Cash required for payments on accounts $383,500 $412,975
A portfolio's return is the weighted average of each individual investment's return. However, a portfolio's risk is not the weighted average of each investment's standard deviation.
a. True
b. False
Bonita Industries uses flexible budgets. At normal capacity of 21000 units, budgeted manufacturing overhead is $168000 variable and $360000 fixed. If Bonita had actual overhead costs of $546000 for 26000 units produced, what is the difference between actual and budgeted costs
Answer:
$22,000 Favorable
Explanation:
The computation of the difference between actual and budgeted cost is given below:
Budgeted Variable Manufacturing Overhead Per Unit is
= $168,000 ÷ 21,000 units
= $8
The Fixed Overhead = $360,000
Now
For 26,000 Units, total Overhead Should be:
Variable = 26,000 × 8 = $208,000
Fixed = $360,000
Total = $568,000
And,
Actual Overhead Cost = $546,000
So,
Difference between Actual and Budgeted Cost is
= $568,000 - $546,000
= $22,000 Favorable
There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: Consumers' Willingness to Pay Shen: $35 Manuel: $50 Poornima: $40 Valerie: $25 Firms' Costs Firm A: $25 Firm B: $40 Firm C: $30 Firm D: $45 Each firm has the capacity to produce only one haircut. For efficiency, should be given.
Answer:
a. 4 haircuts
b. $10
Explanation:
a. Calculation to determine For efficiency how many haircuts can be given?
Basd on the information given For efficiency only 4 haircuts can be given reason been that every of consumer are willing to pay in order to cover the producers costs.
b. Calculation to find out how large will be the total surplus
Total surplus =($35 Manuel+$50 Poornima+$40 Valerie+$25 Firms)-(25 Firm B+ $40 Firm C+$30 Firm D+ $45)
Total surplus =$150-$140
Total surplus =$10
ThereforeTotal surplus is $10
Given that individuals tend to judge the favorability of their outcomes relative to what others receive, what can be the result of someone getting rewarded for their performance but yet being disappointed in the reward that they receive?
Lewis Vacation Rentals has been experiencing a recent decline in its bookings. In an effort to increase sales, the company is offering its employees a 1 percent share in the company profit over the next six months in addition to regular employee salaries. Will this plan increase motivation? Why or why not?
Answer:
im not to sure
Explanation:
Answer:
C
Explanation:
expand the profitable departments and close down unprofitable ones
At December 31, Hawke Company reports the following results for its calendar year.
Cash sales $1,432,910
Credit sales $3,376,000
In addition, its unadjusted trial balance includes the following items.
Accounts receivable $1,022,928 debit
Allowance for doubtful accounts $11,560 debit
Required:
Prepare the adjusting entry for this company to recognize bad debts
The adjusting entries for acknowledging the bad debts would be:
a). Bad Debts Expense $50 640
Allowance for Doubtful Accounts $50 640
b). Bad Debts Expense $48089.1
Allowance for Doubtful Accounts $48089.1
Bad debts:
Bad debts are described as debts that are unable to be recovered from their respective debtors.The key reasons for this could be:
The debtor is bankrupt and cannot pay the amount.The debtor flees away and thus, can't be compelled to pay.The given amounts are obtained as follows:
a). Given that,
Bad debts is 1.5% of credit sales.
Credit Sales = $3,376,000
Bad debts = 1.5% of $3,376,000
∵ Bad debts = 1.5/100 * $3,376,000
= $50 640
b). Given that,
Bad debts = 1 % of total sales.
Total Sales = Credit sale + Cash sale
= $3,376,000 + $1,432,910
= $4808910
Bad debts = 1% of 4808910
∵ Bad debts = 1/100 * $4808910
= $48089.1
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Antoine transfers property with a tax basis of $535 and a fair market value of $652 to a corporation in exchange for stock with a fair market value of $555 in a transaction that qualifies for deferral under section 351. The corporation assumed a liability of $97 on the property transferred. What is Antoine's tax basis in the stock received in the exchange
Answer: $438
Explanation:
Antoine's tax basis in the stock received in the exchange will be gotten as the adjusted basis of asset exchanged which will then be decreased by the liability assumed on the property that's transfered. This will be:
= $535 - $97
= $438
Therefore, Antoine's tax basis in the stock received in the exchange is $438.
Classify each person as employed, unemployed, or not in the labor force.
a. Latasha is a former police officer who was laid off after cuts to the city budget. After searching unsuccessfully for a full-time position, she took a part-time job as a security guard and worked nine hours last week.
b. Susan is a former police officer who was laid off after cuts to the city budget. After searching unsuccessfully for a full-time position, she took a part-time job as a security guard and worked nine hours last week.
c. Kate lost her job as a real estate agent six months ago. She became so frustrated with her inability to find work that she stopped looking for work altogether seven weeks ago.
d. Becky lost her job as a port security officer last month after the city decided to shut down the docks. She has yet to find a job, but she interviewed for a position a few days ago
Answer:
employed
employed
not part of the labour force
unemployed
Explanation:
A person is classified as unemployed if the person is without a job but has searched for employment within the past four weeks or the person is set to resume a job within the next three months
Becky is unemployed because she is without a job and has interviewed for a position a couple of days ago, She is frictionally unemployed
Frictional unemployment is the period of time a person is unemployed from the period he leaves his current job and the time he gets another job.
Kate is a discouraged worker. Discouraged workers are not included in the labour force.
A discouraged worker is a person who is within the legal employment age but is without a job and has given up on searching for employment
A person is considered employed if the person is working for some form of remuneration
StarZinc Company produced 200 defective units last month at a unit manufacturing cost of $50. The defective units were discovered before leaving the plant. StarZinc can sell them as is for $35 or can rework them at a cost of $40 and sell them at the regular price of $100. The total relevant cost of reworking the defective units is:______.
a. $7,800.
b. $5,000.
c. $8,500.
d. $9,100.
Answer:
See below
Explanation:
The cost of producing the defective units is irrelevant to the decision as to rework or to sell the defective units
Option 1
Rework
Sales revenue from sales (200 × $100) = $20,000
Relevant cost 40 × 200
$8,000
Net cash flow
$12,000
Option 2
Outright sale
Revenue from outright sales $35 × 200
$7,000
Starzinc should rework the defective units at it will produce a net cash flow of $12,000
What is the plan of action used by management to identify how resources will be allocated, how the company will market in its competitive environment, and how the firm will attain its goals?
Answer: c. Strategy
Explanation:
Strategy refers to the means a person hopes to use in order to get something done. A company's strategy therefore will tell how the company will attempt to reach its goals.
It will tell the plan of action that the company will use and how resources will be allocated to satisfy the requirements of the plan. It will also tell how the company hopes to market its goods so as to gain an advantage in the market and generally everything else that the company needs to meets its goals.
If money is your political voice, how loud is your voice? Who has the loudest voice?
Answer:
i....I honestly don't know I've tried online but it shows nothing sorry
How does unemployment impact a society
People living in a society judge a person very quickly If the person is unemployment society starts to judge and they start to dominate who is unemployment
To decrease unemployment we need to respect each work but the people living in a society starts to judge people and that's the great weakness of the people so if Unemployment is decreased in the country, than there would be positive impact
i hope i have give my answer according to my thoughts
About 1.4 billion pounds of American, cheddar and other kinds of cheese is socked away at cold-storage warehouses across the country, the biggest stockpile since federal record-keeping began a century ago...Many [cheese companies] are paying to store their excess cheese in hopes demand and prices will improve. Source: Heather Haddon, "America Can't Move Its Cheese," Wall Street Journal, December 17, 2018. What effect did the strategy of warehousing cheese have on the supply of cheese? Using the line drawing tool, show the effect of cheese producers storing cheese in warehouses rather than offering it for sale. Properly label your line. Carefully follow the instructions above, and only draw the required object
Answer: See explanation
Explanation:
Since the cheese companies are paying to store their excess cheese in hopes demand and prices will improve, then this will bring about the reduction in the supply of cheese in the market but the demand for cheese will still be constant.
Due to the fact that there is shortage of supply, the supply curve will shift leftward and as a result of this, the price if cheese will increase and the quantity demanded by the customers will then decrease as a result of price increase.
2 Income statement data for Starr Canning Corporation are as follows: 2009 2008 Sales $1,400,000 $1,200,000 Cost of goods sold 850,000 730,000 Selling expenses 205,000 240,000 General expenses 140,000 100,000 Income tax expense 82,000 50,000 Required a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales (vertical common-size analysis)
Answer and Explanation:
The preparation of the income statement in comparative form is presented in the attachment below
The vertical analysis refers to analysis made to the financial statements. In the balance sheet, the item with respect to the common base for the other items should be expressed in total assets while for the income statement it should be total revenues
Since we have to make the income statement so the same should be expressed in total revenues
:
Newton Corporation was organized on January 1, 20X7. On that date, it issued 200,000 shares of its $10 par value common stock at $15 per share (400,000 shares were authorized). During the period January 1, 20X7, through December 31, 20X9, Newton reported net income of $750,000 and paid cash dividends of $380,000. On January 5, 20X9, Newton purchased 12,000 shares of its common stock at $12 per share. On December 31, 20X9, 8,000 treasury shares were sold at $8 per share. Newton used the cost method of accounting for treasury shares. What is the total stockholders' equity of Newton as of December 31, 20X9
Answer:
$3,290,000
Explanation:
Calculation to determine total stockholders' equity of Newton as of December 31, 20X9
200,000 shares issued for $15$3,000,000
(200,000 shares* $15)
Add Net income $750,000
Less Dividends ($380,000)
Less Purchased 12,000 treasury shares at $12 ($144,000)
(12,000 treasury shares*$12)
Add Decrease in treasury stock account $96,000
(8,000 shares *$12)
Less Decrease in additional paid-in capital ($32,000)
[(8,000 shares *$12)-(8,000 shares *$8])
Total Stockholders’ equity $3,290,000
Therefore total stockholders' equity of Newton as of December 31, 20X9 is $3,290,000
There are hundreds if not thousands of wineries. Each winery tries to emphasize how their product is superior to others, though they are all close substitutes. Barriers to entry are low in this industry, and profits for new entrants are small. Which industrial model best fits the wine market
Answer: Monopolistic competition
Explanation:
Based on the information given in the question, the industrial model that best fits the wine market is a monopolistic competition.
Monopolistic competition refers to a form of imperfect competition whereby there are many producers that are competing against each other. They sell differentiated products, therefore the products are not perfect substitutes
In a monopolistic competition, the barriers to entry are low in this industry, and profits for new entrants are small. The firms in the industry possess some market power and therefore can charge a price that's higher price than a competitor. It should also be noted that a zero economic profit is earned in the long run.
George H. Ruth takes a leave of absence from his job to work full time for a charity for six months. Ruth fills the position of finance director, a position that normally pays $88,000 per year. Ruth accepts no remuneration for his work. What recording does the charity make
Answer: a contributed support of $44000 and a expense of $44000.
Explanation:
From the information given in the question, we are informed that Ruth fills the position of finance director, a position that normally pays $88,000 per year.
Therefore, the amount earned for six months will be:
= $88000 × ½
= $44000
Therefore, the recording of the transaction will be a contributed support of $44000 and a expense of $44000.
At the end of the first year of operations, 21,500 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:
Direct materials $30
Direct labor 18
Fixed factory overhead 22
Variable factory overhead 14
Required:
Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept.
Answer and Explanation:
The computation of the cost of the finished goods inventory reported is as follows:
Absorption costing is
= ($30 + $18 + $22 + $14) × 21,500 units
= $1,806,000
And,
Variable costing is
= ($30 + $18 + 14) × 21,500
= $1,333,000
In this way the cost of the finished goods inventory should be determined
While approaching a group of colleagues, Patrice overheard what she believed were inappropriate comments about another team member's physical attributes. Patrice mentioned the comments to her manager and indicated she was uncomfortable with colleagues speaking in that way in the workplace. As her manager, how should you respond
Answer:
The question is incomplete, the options are missing. The options are the following:
a) Suggest to Patrice that spreading negative information learned from eavesdropping is not healthy for the workplace.
b) Thank Patrice for speaking up and forward the item to a neutral third party for handling.
c) Immediately fire the team members who made the comments.
d) Contact the team member who was the subject of the comments to see if he or she was offended.
e) Thank Patrice for her input, but based on the harmlessness of the situation, take no further action.
And the correct answer is the option B: Thank Patrice for speaking up and forward the item to a neutral third party for handling.
Explanation:
To begin with, these kind of situations are most common than expected in the workplace so that is why that nowadays exist a lot of seminars about certain subjects that involves the behavior in the organization and furthermore there is the regular action of the Human Resources Department that takes cares of all the penalties and the solutions when it comes to subjects regarding the employees of the business and their relationship both with each other and with the company. So the correct way to act in this scenario would be to thank Patrice and tell her that the manager would inform to the Human Resources Department about it, being this last one a third party in the situation itself.
Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smithson's fixed costs per month. Cost Machine Hours January $88,020 9,800 February 150,430 17,700 March 103,350 11,700 April 129,310 15,000 a.$33,900 b.$18,000 c.$8,500 d.$10,600
Answer:
d. $10,600
Explanation:
Variable cost = (Highest activity cost - Lowest activity cost) / (Highest activity units - Lowest activity units)
Variable cost = ($150,430 - $88,020) / (17,700 - 9,800)
Variable cost = $62,410 / 7,900
Variable cost = $7.9
Fixed cost = Highest activity cost - (Variable cost per unit*Highest activity units)
Fixed cost = $150,430 - ($7.9*17,700)
Fixed cost = $150,430 - $139,830
Fixed cost = $10,600
Maverick law office currently orders ink refills 120 units at a time. The firm estimates that carrying cost is 40% of the $10 unit cost and that annual demand is about 480 units per year. The assumptions of the basic EOQ model are thought to apply. For what value of ordering cost would its current action (order quantity) be optimal
Answer:
Economic order quantity (EOQ)= 49 units
Explanation:
Giving the following information:
Demand= 480 units per year
Order cost= $10
Holding cost= 10*0.4= $4
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.
Economic order quantity (EOQ)= √[(2*D*S)/H]
D= Demand in units
S= Order cost
H= Holding cost
Economic order quantity (EOQ)= √[(2*480*10) / 4]
Economic order quantity (EOQ)= √(2,400)
Economic order quantity (EOQ)= 49 units
Janice has been invited to appear on a home improvement show for the remodel of her summerhouse in Maine. Janice asks Mary to wallpaper her house in anticipation of the home improvement, and requests expensive custom wallpaper and a very intricate design application, for which the wallpaper would cost $5000, plus labor. Mary, excited for a very large job for her solo business, orders the intricate wallpaper and blocks off her calendar for the amount of time it will take to complete the job. After the paper has been ordered, Mary asks some friends to be available to complete the job in time for the show. Janice is informed that she will not be on the show and notifies Mary that she will not need the wallpaper.
a. Does Mary have a case for re-imbursement?
b. Under what legal theory might she prevail and what are her damages, if any?
c. What ethical theories might be applicable?
Answer:
sorry I don't know.
Explanation:
Yes, Mary has a legal cause of reimbursement Under the legal theory of ethical violation.
What is ethical violation?A documented company's code of ethics, mission, vision, values, and culture are violated when something is spoken, published, or done that does so. Additionally, we are aware that moral transgressions laugh in the face of accepted social norms.
Most business professionals' ethical conduct is governed by codes of conduct. Business infractions including discrimination, safety issues, or poor working conditions are most frequently observed.
Additionally, fraud, theft, and conflicts of interest. Many of these cross the line into illegal territory that is dealt with outside the corporation and are not merely morally bad.
Customers may be charged for services they did not receive when there is improper or fraudulent billing. This occurs most frequently in professions where the person who pays the bill is different from the person who received the services.
Due to the frequency of this particular ethical breach, many insurance companies have started providing consumers with a list of services that may fall under this category, enticing them to report any irregularities.
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Broker Brad accidentally deposited his commission in the trust fund account instead of his business account. Because it remained in the account for more than 25 days, he is guilty of:
Answer:
Commingling non-trust funds with trust funds
Explanation:
Trust funds
This is simply known as money or other valuable items that is received by the broker on behalf of another individual.
Non-trust funds
This are simply real estate commissions, general operating funds, rents and deposits.
Commingling
This is simply the act of combining a client's money with the agent's personal funds and it is illegal. It is the act of putting or depositing rent and security deposit into the trust account. When a Commissioner audits the account and sees either commingling of trust funds, the court may issue an order to restrain the broker from further mishandling of trust funds and from practicing real estate. It is a violation of real estate law if the trust account is commingled and it is considered commingling when the trust funds are first deposited into the general brokerage account and then transferred to the trust account.
If a licensee is found guilty of conversion of trust funds
1. There will be a revoke the license of the licensee.
2. The assets of the licensee may be sold to recover the converted funds.
3. The receiver account may be imposed on the licensee's assets in order to find and recover the converted funds.
The best way to think of presentation slides is... as a medium meant to be used in conjunction with someone speaking. as a stand-alone medium that communicates on its own. as something to keep the audience entertained during a presentation. something superfluous to a presentation but still expected.
Answer: as a medium meant to be used in conjunction with someone speaking.
Explanation:
Presentation slides are meant to augment what the person presenting is saying. They are to provide proof as well as a visual depiction of the words of the presenter so that the audience can understand the presentation better.
For instance, a person giving a presentation on the earrings potential of a business will use charts and tables to show the expected increase. The charts and tables will help show the point that the person is trying to make so that the audience understands.
Which of the following statements is true?
a. Overhead can be applied slowly as a job is worked on.
b. Overhead can be applied when the job is completed.
c. Overhead should be applied to any job not completed at year-end in order to properly value the work in process inventory.
Answer:
the answer should be
a. Overhead can be applied slowly as a job is worked on.
Answer:
A: overhead can be applied slowly as a job is worked on.
Explanation:
Im pretty sure i already learned that! so trust it!
hope it helps!
if its wrong report my answer!
Pasha works for a manufacturing company in a small town. He reports to his manager that the company is not fulfilling its commitment to the community to reduce pollutants. His manager tells him to ignore the issue and not tell anyone. This is an example of a(n)___________. approach to social responsibility.
a. defensive
b. accommodative
c. reactive
d. obstructionist
e. proactive
Answer:
d. obstructionist
Explanation:
Since in the question it is given that pasha reported his manager that company is not able to fulfill the commitment in order to decrease pollution but the manager said that ignore this issue also dont tell anyone so this represent an obstructionist approach as the firm or the company avoids the social environmental problems so indirectly it breaks the law and their conduct is to be considered as an unethical
Therefore, the option d is correct
Wesley lives in a country with little protection under the law for conducting business or bringing his ideas about a revolutionary new car tire to the market with patent production. Because of the economic conditions what will Wesley most likely do
Answer:
B. Find a country where he can develop his tire idea and have it protected under strong patent laws.
Explanation:
Wesley is looking in a country that offers little protection for the business of bringing newer ideas to market. Due to the poor economic conditions of the nation, Wesley should try and look for another country that can support his ideas and provide him protection.The most recent financial statements for Xporter, Inc., are shown here:
Income Statement Balance Sheet
Sales $5,700 Current assets $ 3,900
Current liabilities $ 2,200 Costs 4,200
Fixed assets 8,100 Long-term debt 3,750
Taxable income $1,500 Equity 6,050
Taxes (34%) 510 Total $12,000 Total $12,000
Net income $ 990
Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year’s sales are projected to increase by exactly 15 percent. What is the external financing needed?
Solution :
Expected sales = current sales x (1 + projected sale next year increase)
= 5,700 x (1 + 15%)
= $ 6555
Expected cost = current cost x (1 + projected sale next year increase)
= 4200 x (1 + 15%)
= $ 4830
Taxable income = 1500 x ( 1 + 15%)
= $ 1725
Taxes (34%) = 510 x (1+15%)
= $ 586.5
Net income = sales - cost - taxes
= 6555 - 4830 - 586.5
= $ 1138.5
Calculation of total asset :
Current asset = 3,900 x 1.15
= $ 4485
Fixed asset = 8100 x 1.15
= $ 9315
Total asset = 4485 + 9315
= $ 13800
Calculation of total liabilities
Current liabilities = 2200 x 1.15
= $ 2530
Long term debt = $ 3,750
Equity = $ 6050 + (1138.5 x 0.50 )
= $ 7189
Total liabilities = $ 2530 + $ 3,750 + $ 7189
= $ 13, 469
Therefore the external financial needed is = $ 13800 - $ 13, 469
= $ 331
Outsourcing is the: Group of answer choices use of computers to obtain value-creating data from the Internet. selling of a value-creating activity to other firms. spinning off of a value-creating activity to create a new firm. purchase of a value-creating activity from an external supplier.
Answer: purchase of a value-creating activity from an external supplier.
Explanation:
Outsourcing refers to the business practice whereby a company hires the service of another party for the creation of goods and the rendering of services which were done traditionally by the employees of the company.
Outsourcing is the purchase of a value-creating activity from an external supplier. It's usually done by.conoanues in order to reduce cost or focus on more important parts of producttion.
Given the following data: Average Operating Assets $250,000 Total Liabilities $100,000 Sales $600,000 Contribution Margin $150,000 Net Operating Income $30,000 Return on investment (ROI) would be: a. 5%. b. 12%. c. 25%. d. 60%.
Answer:
b. 12%.
Explanation:
The computation of the return on investment is given below:
return on investment is
= net income ÷ avergae total assets
= ($30,000 ÷ $250,000)
= 12%
Hence, the return on investment is 12%
Therefore the option b is correct
And, the same should be considered and relevant
DonCo. Inc. sold merchandise on January 14, and accepted a 90 day, 5% promissory note in the amount of $5,000. On January 14, the entry to record this transaction would include a debit to:
a. Cash in the amount of $5,000
b. Notes Receivable in the amount of $5,000
c. Accounts Receivable in the amount of $5,000
d. Sales in the amount of $5,000
