Busch Company has these obligations at December 31. For each obligation, indicate whether it should be classified as a current liability, noncurrent liability, or both.

(a) A note payable for $100,000 due in 2 years.
Current liabilityNoncurrent liabilityBoth

(b) A 10-year mortgage payable of $200,000 payable in ten $20,000 annual payments.
BothCurrent liabilityNoncurrent liability

(c) Interest payable of $15,000 on the mortgage.
Noncurrent liabilityBothCurrent liability

(d) Accounts payable of $60,000.
Current liabilityNoncurrent liabilityBoth

Answers

Answer 1

Answer:

(a) A note payable for $100,000 due in 2 years.  - Noncurrent liability

Non-current liabilities are obligations of payments by the company that extend for over a year. This note payable is due in 2 years and so is a Non-current liability.

(b) A 10-year mortgage payable of $200,000 payable in ten $20,000 annual payments.  - Noncurrent liability

This obligation also extends for over a year thereby satisfying the definition of a Non-current liability

(c) Interest payable of $15,000 on the mortgage.  - Current liability

Current Liabilities being the opposite of Non-current liabilities are obligations that are due within a year. The $15,000 interest payment is the amount due for the year and so is a Current Liability.

(d) Accounts payable of $60,000.  - Current liability

Accounts Payable are payable within the year and as such are current liabilities.


Related Questions

Akers Company sold bonds on July 1, 2017, with a face value of $100,000. These bonds are due in 10 years. The stated annual interest rate is 6% per year, payable semiannually on June 30 and December 31. These bonds were sold to yield 8%. By July 1, 2018, the market yield on these bonds had risen to 10%.

Required:
What was the bonds' market price on July 1, 2018?

Answers

Answer:

Price of bond= $75,075.58  

Explanation:

The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV).  

Value of Bond = PV of interest + PV of RV  

The value of the bond for Akers Company  can be worked out as follows:  

Step 1  

PV of interest payments  

Semi annul interest payment  

= 6% × 100,000 × 1/2 = 3000

Semi-annual yield = 10%/2 =  5% per six months  

Total period to maturity (in months)  

= (2 × 10) = 20 periods

PV of interest =  

3000  × (1- (1+0.05)^( -20)/) 0.05 =  37,386.63  

Step 2  

PV of Redemption Value  

= 100,000 × (1.05)^(-20) =  37,688.95  

Price of bond  

Price of bond =  37,386.63   + 37,688.95   =  75,075.58  

Price of bond= $75,075.58  

You are the newly assigned project manager to a major IT upgrade project in your global company. How will you determine the risk tolerances associated with your project

Answers

Answer:

I have to identify the risk factors in the project and then gauge the willingness of the company to take such risks.

Explanation:

Risk tolerance is the willingness of an organization or an individual to take certain risks. The risk tolerance level of a person or organization can be classified as either high or low. For a project manager who wants to determine the risk tolerances associated with his project, he has to first identify the risk factors, and then try to know the risk level and if indeed this level is acceptable within the organization's culture and standard.

The project manager would do well to plot a graph that would show the probability of a risky action happening or not. A risk tolerance line is now obtained from where the project manager can know if that risk is tolerable by organization standards. The extent of job security would also help in determining the amount of risk a manager can take. However, they are still expected to stay within the standards of the organization.

A process that automatically groups people with similar buying intentions, preferences, and behaviors and predicts future purchases is called _____.

Answers

Answer: collaborative filtering

Explanation:

A process that automatically groups people with similar buying intentions, preferences, and behaviors and predicts future purchases is referred to as collaborative filtering.

Collaborative filtering is a method of making predictions about a user by collecting information from other similar users.

State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows:

a. Retired $300,000 of bonds, on which there was $3,000 of unamortized discount, for $312,000.
b. Sold 7,000 shares of $20 par common stock for $50 per share.
c. Sold equipment with a book value of $48,800 for $70,300.
d. Purchased land for $479,000 cash.
e. Purchased a building by paying $93,000 cash and issuing a $90,000 mortgage note payable.
f. Sold a new issue of $300,000 of bonds at 98.
g. Purchased 3,200 shares of $35 par common stock as treasury stock at $69 per share.
h. Paid dividends of $2.10 per share. There were 22,000 shares issued and 4,000 shares of treasury stock.

Answers

Answer:

a. Retired $300,000 of bonds, on which there was $3,000 of unamortized discount, for $312,000.

decrease cash flows from financing activities by $312,000

b. Sold 7,000 shares of $20 par common stock for $50 per share.

Increased cash flows from financing activities by $350,000

c. Sold equipment with a book value of $48,800 for $70,300.

increased cash flows from investing activities by $70,300, decrease cash flows from operating activities by $21,500 (= $70,300 - $48,800)

d. Purchased land for $479,000 cash.

decrease cash flow from financing activities by $479,000

e. Purchased a building by paying $93,000 cash and issuing a $90,000 mortgage note payable.

decrease cash flow from investing activities by $183,000, and increase cash flow from financing activities by $90,000

f. Sold a new issue of $300,000 of bonds at 98.

increase cash flows from financing activities by $294,000

g. Purchased 3,200 shares of $35 par common stock as treasury stock at $69 per share.

decrease cash flows from financing activities by $220,800

h. Paid dividends of $2.10 per share. There were 22,000 shares issued and 4,000 shares of treasury stock.

decrease cash flows from financing activities by $37,800

As flextime, consulting, telecommuting, and downsizing make it more difficult for

people to donate blood at the workplace, Canadian Blood Services has launched a

CRM marketing campaign in Toronto to boost awareness and repeat donations.

Early in the campaign, it went to its listings of previous donors and pulled out

those with birthdays in February, March, and April. These donors were sent a

birthday card with the greeting, "On the anniversary of your life, would you

consider saving another's life?"

Refer to the scenario.


What technique did the organization use to analyze its donor information?

Answers

Answer:

The technique which the organization used in analyzing its donor is called Customer segmentation

Explanation:

Customer segmentation is the process of breaking large groups of customers into smaller, more homogeneous groups. This division are done specifically probably for marketing using attribute such as age, gender, interests and spending habits.

In the case of the CRM marketing campaign in Toronto, they inability to analyze all the data they had poses a challenge hence they reason why they segmented their customers according to their birthday. And customers are reached out according to those whose birthday falls nearby.

In Shanghai, China, sellers of various fake watches have historically approached tourists as they exited tour buses, offering to sell the watches. The sellers then attempted to haggle with each of the tourists individually. What pricing strategy does this behavior resemble

Answers

Answer:

Price Discrimination

Explanation:

Price discrimination defines that when one seller sells one product at different prices to different customers.

According to the given situation, Sellers of different fake watches contacted visitors as they were leaving bus tours and offering to sell them. The sellers then personally tried to haggle for each of the visitors, here sellers wants to sell the same product at different prices for his benefit. This indicates the price discrimination.

Child Play Inc. manufactures electronic toys within a relevant range of 20,000 to 150,000 toys per year. Within this range, the following partially completed manufacturing cost schedule has been prepared: Complete the cost schedule. When computing the cost per unit, round to two decimal places.

Toys produced 40,000 80,000 120,000

Total costs:
Total variable costs $720,000 d. $ j. $
Total fixed costs 600,000 e. k.
Total costs $1,320,000 f. $ l. $

Cost per Unit
Variable cost per unit a. $ g. $ m. $
Fixed cost per unit b. h. n.
Total cost per unit c. $ i. $ o. $

Answers

Answer:

Toys produced                40,000         80,000           120,000

Total costs:

Total variable costs      $720,000     $1,440,000     $2,160,000

Total fixed costs           $600,000      $600,000        $600,000

Total costs                   $1,320,000   $2,040,000     $2,760,000

Cost per Unit

Variable cost                   $18                   $18                     $18

Fixed cost                        $15                  $7.50                   $5

Total cost                        $33                 $25.50               $23

Fixed costs do not change with total output, they are the same regardless so the number of units produced. Variable costs change proportionally to any change in total output. If total output increases, variable costs will increase.

Consider a firm with a 2007 net income of $20 million, revenue of $60 million and cost of goods sold of $25 million. If the balance sheet amounts show $2 million of inventory and $500,000 of property, plant & equipment, what is the inventory turnover?

Answers

Answer:

Inventory turnover days = 29.2 days

Explanation:

Inventory turnover is the average length of time it takes the item of stock to be sold and replaced. It can be measured in days or the number of times.

it can be calculated in days or in number of times

Inventory turnover number of times = cost of goods sold/average inventory

Inventory turnover days = (Average inventory /cost of good sold)× 365 days

It shorter the  Inventory turnover  in days the better. We will use the days formula.

Note average inventory = (opening inventory + closing inventory)/2

However, the average inventory concept will not be applicable in this question because the opening inventory figure is not given. Hence, we will use the closing inventory figure to represent the average inventory

Inventory turnover days = 2,000,000/25,000,000× 365 days= 29.2

Inventory turnover days = 29.2 days

                                         

If a company's required rate of return is 10% and, in using the net present value method, a project's net present value is zero, this indicates that the

Answers

Answer:

The project earns a 10% rate of return

Explanation:

This indicates that the “ project earns a 10% rate of return”. Since it is given in the question that the required rate of return is 10% and the company analysis that the net present value of the project is zero. That means the project is profitable and earns a sufficient profit or project giving a sufficient return. Therefore, it can be determined that the project is providing the earning or rate of return 10 per cent.  

The company is termed as the established legal entity that has been built on the basis of the company act of the year 2013. The act demonstrates or depicts the economic activities of the company and also determines the various measures to calculate the earning and the contribution to the growth of the economy.  

The indication in the context is The project earns a 10% rate of return

This signifies that the "promotes affordable a 10% rate of return." Because the needed rate of return is 10percent and also the company analysis suggests that the project's net present value is zero, the answer is yes.

This implies that the project is profitable and produces a sufficient profit or payback. In a conclusion, it can be determined that the challenging design has a 10% earning or rate of return.

To know more about the indication of the net present value, refer to the link below:

https://brainly.com/question/17162144

A company's board of directors votes to declare a cash dividend of $1.20 per share of common stock. The company has 24,000 shares authorized, 19,000 issued, and 18,500 shares outstanding. The total amount of the cash dividend is:

Answers

Answer:

$22,200

Explanation:

Shares is a method through which firms raise capital.

Authorised shares are the maximum number of shares a company can issue to investors

Outstanding shares are the total number of shares sold to investors . It is only outstanding shares that receive dividend payment.

Issued shares are the shares that a company issues

cash dividend = $1.20 x 18,500 = $22,200

The following data were reported by a corporation: Authorized shares 24,000 Issued shares 19,000 Treasury shares 5,500 The number of outstanding shares is: Multiple Choice 19,000. 18,500. 29,500.

Answers

Answer:

13,500

Explanation:

Outstanding shares = issued shares - Treasury shares

19,000 - 5,500 = `13,500

Shares is a method through which firms raise capital.

Authorised shares are the maximum number of shares a company can issue to investors

Outstanding shares are the total number of shares sold to investors

Treasury shares are shares that have been issued and later repurchased by the company

Issued shares are the shares that a company issues

A​ monopolist's maximized rate of economic profits is ​$1500 per week. Its weekly output is 500 ​units, and at this output​ rate, the​ firm's marginal cost is ​$32 per unit. The price at which it sells each unit is ​$42 per unit. At these profit and output rates, what are the firm's average total cost and marginal revenue?

Answers

Answer:

Average total cost = $39

Marginal revenue = $32 per unit

Explanation:

The computation of average total cost and marginal revenue is shown below:-

Average total cost = Selling price - (Economic profit ÷ Weekly output)

                              = $42 - ($1,500 ÷ 500)

                              = $42 - 3

                              = $39

Marginal revenue = Marginal cost

So,

Marginal revenue = $32 per unit

Therefore for computing the average total cost and marginal revenue we simply applied the above formula.

Say that you purchase a house for $150,000 by getting a mortgage for $135,000 and paying a $15,000 down payment. If you get a 15-year mortgage with a 6 percent interest rate, what are the monthly payments

Answers

Answer:

Monthly installment  = $1,139.21

Explanation:

When a loan is to be paid over a period of time using a series of periodic equal installments, it is called loan amortization. Each equal installment is meant to liquidate the principal and the accrued interest.

The amount to be financed by way of loan=

= cost of house - down payment

= $150,000 - 15,000  = $135,000

The monthly equal installment is calculated as follows:

Monthly equal installment-= Loan amount/Monthly annuity factor

Monthly annuity factor  

=( 1-(1+r)^(-n))/r

Monthly interest rate (r)

= 6%/12= 0.5%

Number of months ( n) in 15 years

= 15* 12 = 180

Annuity factor  

= ( 1- (1.005)^(-180)/0.005= 118.504

Monthly installment = 135,000/ 118.504 =1139.21

Monthly installment  = $1139.21

The IMF policies that accompany most IMF loans are typically: Multiple Choice expansionary in the short run. procyclical in the long run. contractionary in the long run. contractionary in the short run.

Answers

Answer:

contractionary in the long run

Explanation:

contractionary fiscal policy reduces spending and raises taxes. it contract the economy by reducing the amount of money that is available for businesses and for people to spend. it could reduce government expenditure or increase taxes or in other times do both. useful during inflation

Torrid Romance Publishers has total receivables of $3,000, which represents 20 days’ sales. Total assets are $75,000. The firm’s operating profit margin is 5%. Find the firm's ROA and asset turnover ratio.

Answers

Answer:

Assets turnover ratio= 0.73

ROA= 3.65%

Explanation:

Torrid romance publishers have a total receivables of $3,000, it represents a 20 days sales

The total assets is $75,000

The operating profit margin is 5%

= 5/100

= 0.05

The first step is to calculate the total sales

= $3,000×365/20

= $3,000×18.25

= $54,750

The asset turnover ratio can be calculated as follows

= Total sales/Total assets

= $54,750/$75,000

= 0.73

The ROA can be calculated as follows

= Assets turnover ratio×operating profit margin

= 0.73×0.05

= 0.0365×100

= 3.65%

Hence the assets turnover ratio and ROA is 0.73 and 3.65% respectively.

Food Shoppe Galore had the following information: Total market value of a company’s stock: $650 million Total market value of the company’s debt: $150 million What is the weighted average of the company’s debt?

Answers

Answer:

18.75%

Explanation:

Food Shoppe galore has a total market value stock of $650 million

The total market value of the company's debt is $150 million

The first step is to calculate the total market value of the company's capital

= $150,000,000 + $650,000,000

= $800,000,000

Therefore, the weighted average of the company's debt can be calculated as follows

= $150,000,000/$800,000,000

= 0.1875×100

= 18.75%

Hence the weighted average of the company's debt is 18.75%

Discuss SOX in 500 words or more. How do logging and separation of duties help comply with SOX? How might database auditing and monitoring be utilized in SOX compliance? How can a dba use automation to comply with SOX frameworks?

Answers

Answer:

The Sarbanes-Oxley Act of 2002 was designed to protect investors and shareholders from accounting frauds, misguided financial statements and intentional errors by improving accuracy and reliability of company's accounts. This act was created in response to financial scandals and frauds that took place before 2002. Public corporations are required to comply with the Laws and regulations in the Sarbanes-Oxley Act.

Explanation:

The Enron scandal was the base for the Sarbanes Oxley Act. It was created to avoid further potential frauds in the businesses. Auditors at Enron were responsible for ensuring accuracy of financial statements. Anderson deceived many investors who relied on companies financial statements. Anderson certified financial statements of the company without questioning them about the relevancy and accuracy. Anderson was found guilty of obstructing justice by destroying Enron's related auditing documents. Attorneys helped to mold some of company's special purpose partnership. These deals lead to demise of the company. Merrill Lynch replaced research analyst after his coverage of the Enron company which dissatisfied the company executives. Merrill Lynch was subject to threats by Enron that it would loose $750 million from stock offerings.

The Federal Reserve S role as a lender of last resort involves lending to which of the following financially troubled institutions?
a. U.S. state governments when they run short on
b. U.S. banks that cannot borrow elsewhere
c. Governments in developing during currency crises.

Answers

Answer: U.S. banks that cannot borrow elsewhere

Explanation:

Lender of last resort is.a situation that occurs when the central bank in a country gives loans to the commercial banks in the country when they are going through financial difficulties.

In this scenario, The Federal Reserve S role as a lender of last resort involves lending to U.S. banks that cannot borrow elsewhere.

Bluegill Company sells 7,500 units at $320 per unit. Fixed costs are $120,000 and income from operations is $1,560,000. Determine the following: Round the contribution margin ratio to two decimal places.
a. Variable cost per unit $
b. Unit contribution margin $ per unit
c. Contribution margin ratio %

Answers

Answer:

a) $96 per unit

b) $224 per unit

c) 70%

Explanation:

We will have to compute variable cost and contribution margin

Sales $2,400,000

7,500 × 320

Less; Variable cost $720,000

Contribution margin $1,680,000

Less : Fixed cost $120,000

Operating income. $1,560,000

a) Variable cost per unit

= Total variable cost ÷ Total number of units

= $720,000 ÷ 7,500 units

= $96 per unit

b) Unit contribution margin

= Selling price per unit - Variable cost per unit

= $320 - $96

= $224

c) Contribution margin ratio

= (Selling price per unit - Variable cost per unit) ÷ Selling price per unit × 100

= ($320 - $96) ÷ $320 × 100

= $224 ÷ 320 × 100

= 70%

The calculation of WACC involves calculating the weighted average of the required rates of return on debt and equity, where the weights equal the percentage of each type of financing in the firm's overall capital structure.
_________ is the symbol that represents the cost of preferred stock in the weighted average cost of capital (WACC) equation.
Bryant Co. has $2.3 million of debt, $1.5 million of preferred stock, and $1.8 million of common equity. What would be its weight on common equity?
A. 0.32
B. 0.24
C. 0.22
D. 0.30

Answers

Answer:

Option A is the correct answer

Weight of equity =0.32

Explanation:

Weighted average cost of capital is the average cost of all of the long-term types of finance used by a company weighted according to the that amount of finance used in relation to the total pool of fund.

The weight is the market value of nominal value of the source of fund as a proportion of the total capital funds.

Total capital funds = Debt funds + Preferred Funds + Equity funds

                              = ($2.3 + $1.5 + $1.8 ) million  = $5.6  million

Weight of equity = Equity capital/Total capital funds

                           = 1.8/5.6 =0.32

Weight of equity =0.32

The rate of economic growth per capita in France from 1996 to 2000 was 1.9% per year, while in Korea over the same period it was 4.2%. Per capita real GDP was $28,900 in France in 2003, and $12,700 in Korea. Assume the growth rates for each country remain the same. 1. Compute the doubling time for France’s per capita real GDP. Use the rule of 72. 2. Compute the doubling time for Korea’s per capita real GDP. Use the rule of 72. 3. What will France’s per capita real GDP be in 2045? 4. What will Korea’s per capita real GDP be in 2045?

Answers

Answer and Explanation:

The rule of 72 refers the time period in which your investment which you invest should be doubled

So based on the rule of 72, the computation is shown below:

1. doubling time for France per capita real GDP is

= Rule of 72 ÷ rate

= 72 ÷ 1.9

= 37.89 years

2. Doubling time for Korea per capita real GDP is

= Rule of 72 ÷ rate

= 72 ÷ 4.2

= 17.14 years

3. France per capita real GDP in year 2045 is

= Per capita read GDP × (1 + growth rate)^time period

= $28,900 × 1.019^42

= $63,710.88

4. Korea  per capita real GDP in year 2045 is

= Per capita read GDP × (1 + growth rate)^time period

= $12,700 × 1.042^42

= $71,490.43

The time period 42 comes from

= 2045 - 2003

= 42 years

Brandt Enterprises is considering a new project that has a cost of $1,000,000, and the CFO set up the following simple decision tree to show its three most likely scenarios. The firm could arrange with its work force and suppliers to cease operations at the end of Year 1 should it choose to do so, but to obtain this abandonment option, it would have to make a payment to those parties. How much is the option to abandon worth to the firm?

Answers

Answer:

$61.03

Explanation:

The decision tree is a flow like chart which enables to identify the best decision based on the possible probabilities of multiple events. The technique of decision tree is used when there are various options. Every decision is placed on the node of the leaf. These nodes are assigned a probability which makes it easy for the managers to take decision.

In the given scenario the CFO of Brandt Enterprises has created a decision tree as with probabilities 20% of $800, 60% of $520 and 20% of $200 in the year . The NPV estimate is $46.57 for all the probabilities. The firm will have to incur $61.03 to abandon at year 1 .

A company with a WACC of 8.5% is considering two possible investments. Project A will return 10% and be financed using equity costing 9.5%. Project B will return 8% and be financed using debt costing 6%. Which project should the company undertake

Answers

Answer:

The Company should undertake project A.

Explanation:

The finance of projects is usually done through pooling of funds, that is using various sources of finance. The WACC represents the return required by providers of this finance and also shows the risk of the company.

A company will always accept projects that provide a return higher that their weighted average cost of capital (risk) and reject any project offering a return below the WACC.

Conclusion :

The Company should undertake project A as this gives a return higher than the WACC of 8.5%.

Electronic Arts is a video game company that competes with Activision Blizzard. A condensed balance sheet for Electronic Arts and a partially completed vertical analysis are presented below.Cash and Short-term Investments $1,680 33% Accounts Payable $136 2%Accounts Receivable, Net 312 6 Accrued Liabilities 658 Inventories 42 1 Notes Payable (long-term) 2,009 40Other Current Assets 291 Total Liabilities 2,803 Intangibles 1,974 Common Stock 2,246 44Property and Equipment, Net 548 Retained Earnings 21 1Other Assets 223 4 Total Stockholders' Equity 2,267 45Total Assets $5,070 100% Total Liabilities & Stockholders' Equity $5,070 100%Required: a. Complete the vertical analysis by computing each line item as a percentage of total assets.b. What percentages of Electronic Arts' assets relate to intangibles versus property and equipment?

Answers

Answer:

a. Computation of percentages for Vertical Analysis

Other current Assets  -- (Other current assets/Total Assets) * 100 -- ($291/$5070)*100 -- 6%

Intangible -- (Intangibles/Total assets) * 100 --($1,974/$5,070)*100--39%

Property and Equipment,Net -- (Property and equipment,Net/Total assets)*100-- ($548/$5070)100 -- 11%

Accrued Liabilities -- (Accrued liabilities / Total liability and stockholders Equity)*100 -- ($658/$5070)*100-- 13%

Total Liabilities -- (Total liability/Total liabilities and stock holders Equity) * 100 -- ($2803/$5070) * 100 -- 55%

b. Percentage of intangible and Property and Equipment

Intangibles -- (Intangibles / Total assets) * 100 -- ($1,976/$5070 * 100) -- 39%

Property and Equipment -- (Property and Equipment, Net/Total Assets) * 100 -- ($548/$5070 * 100) -- 11%

At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget: Cash balance, September 1 (from a summer job) $9,250 Purchase season football tickets in September 160 Additional entertainment for each month 250 Pay fall semester tuition in September 4,800 Pay rent at the beginning of each month 600 Pay for food each month 550 Pay apartment deposit on September 2 (to be returned December 15) 600 Part-time job earnings each month (net of taxes) 950Required:a. Prepare a cash budget for September, October, November, and December. b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?c. What are the budget implications for Craig Kovar?

Answers

Answer:

a) Craig Novar's

Cash budget

                                                                  Months

                                        Sept.            Oct.             Nov.           Dec.

beginning balance          9,250         2,640          2,190           1,740

football tickets                -160

other entertainment       -250            -250            -250            -250

semester tuition             -4,800

rent                                  -600            -600            -600            -600

food                                 -550            -550            -550            -550

apartment deposit          -600                                                     600

part time jobs earnings   950             950             950             950

ending balance                2,640         2,190           1,740            1,890

b) This is a static budget because it is being prepared in advance. A flexible budget adjusts a static budget to the real cash outflows and inflows.

c) Since Craig is spending more money than what he earns, his cash balance is decreasing month by month. This tendency changes in December because Craig gets his apartment's deposit back, but he still will not have enough money to pay for Spring tuition.

Crazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,000 bars) are as follows: Ingredient Quantity Price Cocoa 500 lbs. $1.40 per lb. Sugar 100 lbs. $0.50 per lb. Milk 250 gal. $1.60 per gal.Required:Determine the standard direct materials cost per bar of chocolate.

Answers

Answer:

Unitary cost= $0.23 per unit

Explanation:

Giving the following information:

Standard costs (5,000 bars):

Cocoa 500 lbs. $1.40 per lb.

Sugar 100 lbs. $0.50 per lb.

Milk 250 gal. $1.60 per gal.

First, we need to calculate the total cost:

Total cost= 500*1.4 + 100*0.5 + 250*1.6

Total cost= $1,150

Now, the unitary cost:

Unitary cost= 1,150/5,000

Unitary cost= $0.23 per unit

The standard direct materials cost per bar of chocolate is $0.23 per bar.

First step is to calculate the total direct material cost for production of 5,000 bar of chocolate

Ingredient  Quantity Price Cost

Cocoa         500× $1.40 =$700

Sugar          100 ×$0.50 =$50

Milk             250 ×$1.60 =$400

Total                                $1,150

Second step is to calculate the standard material cost per bar of chocolate

Standard material cost per=$1,150/5,000

Standard material cost per=$0.23 per bar

Inconclusion the standard direct materials cost per bar of chocolate is $0.23 per bar.

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A promotion related to the movie Pacific Rim Uprising was seen in Target stores throughout the United States. The sales promotion was designed to maximize the consumer's attention to a DVD release and provide storage for the products. This type of sales promotion is referred to as a

Answers

Answer:

This type of sales promotion is referred to as a Dealer Sales Promotion (Trade Promotion).

Explanation:

The Dealer Sales Promotion, otherwise known as Trade Promotion, is aimed at Dealers, designed to maximize the attention of consumers, and provide storage for the products in Target stores throughout the United States.  The promoters want Pacific Rim Uprising to be seen by consumers, so that their attention is galvanized, and to get Target stores to create the space for the DVD upon the film's release, through cooperative advertising.   It is not aimed directly at consumers or salespersons, but dealers.

Garfield Company has the following information for the current​ year: Beginning fixed manufacturing overhead in inventory $230,000 Fixed manufacturing overhead in production 850,000 Ending fixed manufacturing overhead in inventory 50,000 Beginning variable manufacturing overhead in inventory $40,000 Variable manufacturing overhead in production 140,000 Ending variable manufacturing overhead in inventory 30,000 What is the difference between operating incomes under absorption costing and variable​ costing?

Answers

Answer:

the difference between operating incomes under absorption costing and variable​ costing is $180,000 .

Explanation:

The difference between the two Operating Incomes lies in the amount of Fixed Overheads that has been deferred in Inventory.

So, calculation of the difference will be as follows :

Beginning fixed manufacturing overhead in inventory              $230,000

Less Ending fixed manufacturing overhead in inventory           ($50,000)

Difference  between  absorption costing and variable​ costing $180,000

An investment adviser has a soft dollar arrangement with DEF Brokerage Company. An investment adviser representative brings a big new account to the RIA and the account owner tells the IAR to direct 50% of his trades to XYZ Brokerage Company. If execution is not an issue, then the IAR should:

Answers

Answer:

The remaining part of the question:

Which statement is TRUE?

A. Because the payment received by the IAR is small, there is no requirement to notify the client of the payment arrangement with the executing broker

B. Because the client has an investment objective of aggressive growth, requiring an active trading strategy, there is no requirement to notify the client of the payment arrangement with the executing broker

C. The IAR must notify the client of the payment arrangement with the executing broker

D. The IAR must notify RIA of the payment arrangement with the executing broker

Correct Answer:

C. The IAR must notify the client of the payment arrangement with the executing broker .

Explanation:

Match the definition with the term.
a. It is a collection of all accounts with their activity and balances that exist in a business.
b. It is a book of original entry that includes a chronological record of all transactions that Have occurred within a business during a period occurred
c. It is a list of each account and its balance at any given time and is used to verify that debits = credits
d. It is a list of all ledger accounts which exist in a business and includes an identification number assigned to each account
1. A general ledger
2. A chart of accounts

Answers

Answer:

a. It is a collection of all accounts with their activity and balances that exist in a business.  - A general ledger

The General Ledger is the central record in an accounting system and contains a record of all financial transactions in the company.

b. It is a book of original entry that includes a chronological record of all transactions that Have occurred within a business during a period occurred. - A Journal

When a transaction takes place in a business, it is recorded first in a Journal. As such, a journal contains a chronological record of all transactions that have occurred within a business during a period occurred.

c. It is a list of each account and its balance at any given time and is used to verify that debits = credits . - Trial Balance

The Trial Balance helps a business balance its debits and credits by listing them so then equating them to verify that indeed the debits match the credits.

d. It is a list of all ledger accounts which exist in a business and includes an identification number assigned to each account . - A chart of accounts

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