Answer:
a. 0.34 or 34 %
b. $11.22
c. $134,680
Explanation:
Unit Contribution Margin = Sales per unit - Variable Costs per unit
= $33.00 - $21.78
= $11.22
Contribution margin ratio = Contribution ÷ Sales
= $11.22 ÷ $33.00
= 0.34
Operating Income = Contribution - Fixed Cost
= ($11.22 x 24,000 units) - $134,600
= $134,680
Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams estimated total overhead of $385,900; materials of $417,000 and direct labor of $227,000. During the year Adams incurred $408,900 in materials costs, $403,400 in overhead costs and $231,000 in direct labor costs. Compute the amount of under- or overapplied overhead for the year.
Answer:
$364,980
Explanation:
Computation for the amount of under- or overapplied overhead for the year.
First step is to calculate the
Predetermined Overhead using this formula
Predetermined Overhead rate = Estimated overhead/direct labor estimated
Let plug in the formula
Predetermined Overhead rate= 358,900/227,000
Predetermined Overhead rate= 158% of direct labor cost
Now let determine the Overhead applied
Overhead applied = $231,000*158%
Overhead applied= $364,980
Therefore the amount of under- or overapplied overhead for the year is $364,980
Botox Facial Care had earnings after taxes of $330,000 in 20X1 with 200,000 shares of stock outstanding. The stock price was $42.00. In 20X2, earnings after taxes increased to $386,000 with the same 200,000 shares outstanding. The stock price was $53.00. a. Compute earnings per share and the P/E ratio for 20X1. (The P/E ratio equals the stock price divided by earnings per share.) (Do not round intermediate calculations. Round your final answers to 2 decimal places.) b. Compute earnings per share and the P/E ratio for 20X2. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) c. Why did the P/E ratio change
Answer:
Botox Facial Care
20X1 20X2
a. Earnings per share $1.65 $1.93
b. P/E ratio 25.45x 27.46x
c. The P/E ratio changed from 25.45x to 27.46x following a change in earnings per share and the stock price per share.
Explanation:
a) Data and Calculations:
20X1 20X2
Earnings after taxes $330,000 $386,000
Outstanding shares 200,000 200,000
Earnings per share $1.65 $1.93
Stock price $42.00 $53.00
P/E ratio 25.45x 27.46x
Earnings per share = Earnings after taxes/Outstanding shares
P/E ratio = Stock price/Earnings per share
If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.May 1: Prepaid rent for three months, $2,100May 5: Received and paid electricity bill, $70May 9: Received cash for meals served to customers, $1,530May 14: Paid cash for kitchen equipment, $3,780May 23: Served a banquet on account, $1,780May 31: Made the adjusting entry for rent (from May 1).May 31: Accrued salary expense, $3,260May 31: Recorded depreciation for May on kitchen equipment, $670
Answer:
Net loss -$1,390
Explanation:
The computation of the net income is given below:
Service revenue
On cash $1,530
ON credit $1,780
Service revenue $3,310
Less: Expense
Utilities expense -$70
Rent expense -$700
Salaries expenses -$3,260
Depreciation expense -$670
Total expenses -$4,700
Net loss -$1,390
Suppose you have $1,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 1.0% annual interest, compounded monthly. How much will you have when the CD matures?
Explanation:
yes to the house and technology and technology and technology and technology and technology and technology and technology and technology
Kluber, Inc. had net income of $917,000 based on variable costing. Beginning and ending inventories were 56,700 units and 55,400 units, respectively. Assume the fixed overhead per unit was $2.10 for both the beginning and ending inventory. What is net income under absorption costing
Answer:
The answer is "[tex]\$235,410[/tex]".
Explanation:
Variable cost net income [tex]=\$917,000[/tex]
Less: Fixed overhead start [tex]56,700\times \$2.10=\$119,070[/tex]
Add: Fixed overhead termination [tex]55,400\times $2.10=\$11,6340[/tex]
Net revenue at cost of absorption [tex]=\$235,410[/tex]
Westside Manufacturing Co.'s budget at 6,000 units of production includes $36,000 for direct labor and $3,000 for electric power. Total fixed costs are $33,000. At 7,000 units of production, a flexible budget would show: Group of answer choices variable and fixed costs totaling $45,375 variable costs of $39,000 and $33,875 of fixed costs variable costs of $45,500 and $33,000 of fixed costs variable costs of $44,000 and $33,000 of fixed costs
Answer:
variable costs of $45,500 and $33,000 of fixed costs
Explanation:
The computation of the variable cost and the fixed cost is shown below:
The fixed cost is $33,000
And, the variable cost is
= 39,000 ÷ 6,000 units × 7,000 units
= $45,500
Therefore variable costs of $45,500 and $33,000 of fixed costs
Hence, the same is to be considered and relevant
A used machine with a purchase price of $77,000, requiring an overhaul costing $8,000, installation costs of $5,000, and special acquisition fees of $3,000, would have a cost basis of
Answer:
the cost basis of the machine is $93,000
Explanation:
The cost basis of the machine is given below:;
= Purchase price + overhaul costing + installation cost + special acquistion fees
= $77,000 + $8,000 + $5,000 + $3,000
= $93,000
Hence, the cost basis of the machine is $93,000
The same should be considered
All of the following are advantages associated with assigning both core team members and subject matter experts to the project as soon of SMEs
Answer:
correct option is early assignment of SMEs to the project saves moneyExplanation:
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The part can be purchased from an outside supplier at $20 per unit. If the part is purchased from the outside supplier, two thirds of the total fixed costs incurred in producing the part can be eliminated. The annual increase or decrease on the company's operating incomes as a result of buying the part from the outside supplier would be:
Answer:
$2,000 Decrease
Explanation:
Calculation to determine what The annual increase or decrease on the company's operating incomes as a result of buying the part from the outside supplier would be:
First step is to calculate C saving from not producing parts
C saving from not producing parts = $12 + (2/3 x $9)
C saving from not producing parts = $18
Now let determine The annual increase or decrease on the company's operating incomes
purchase price = $20
Annual increase or decrease =($20-$18) x 1,000
Annual increase or decrease =$2 more per unit x 1,000
Annual increase or decrease = $2,000 decrease
Therefore The annual increase or decrease on the company's operating incomes as a result of buying the part from the outside supplier would be:$2,000 Decrease
Adjusting Entry for Supplies The balance in the supplies account, before adjustment at the end of the year, is $1,654. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $777.
Answer:
The adjustment is:
= Balance in supplies account - Supplies on hand
= 1,654 - 777
= $877
This amount will be sent to the Supplies expense account to show that it was incurred as an expense during the period but was not accounted for. Expenses are debited when they increase.
Date Account Title Debit Credit
XX-XX-XXXX Supplies expense $877
Supplies $877
g If the economy experiences economic contraction, the government can combat this with an Group of answer choices increase in government purchases increase in marginal tax rates increase in autonomous taxes increase in real interest rates
Answer:
increase in government purchases
Explanation:
If there is a contraction in the economy, the government should conduct expansionary policies to increase money supply.
Discretionary fiscal policies are deliberate steps taken by the government to stimulate the economy in order to cause the economy to move to full employment and price stability more quickly than it might otherwise.
Discretionary fiscal policies can either be expansionary or contractionary
Expansionary fiscal policy is when the government increases the money supply in the economy either by increasing spending or cutting taxes.
Contractionary fiscal policies is when the government reduces the money supply in the economy either by reducing spending or increasing taxes
During January, its first month of operations, Dieker Company accumulated the following manufacturing costs:
Raw materials $4,500 on account, factory labor $8,100 of which $5,300 relates to factory wages payable and $2,800 relates to payroll taxes payable, and factory utilities payable $2,700.
Required:
Prepare journal entries for each type of manufacturing cost.
Answer:
Date Account titles and Explanations Debit Credit
31-Jan Raw materials inventory $4,500
Accounts payable $4,500
31-Jan Work in process inventory $8,100
Factory wages payable $5,300
Payroll taxes payable $2,800
31-Jan Manufacturing overhead $2,700
Factory utilities payable $2,700
In general, increasing price above the market equilibrium price will _______ consumer surplus and ________ producer surplus. Total surplus will _______. Reducing price below market equilibrium will ________ consumer surplus and _______ producer surplus. Total surplus will _______. Thus regulators _______ increase benefits to one group or the other, but the market ______ be efficient.
The tax incidence is the:_____
a. average tax burden borne by buyers and sellers.
b. actual tax burden borne by buyers and sellers.
c. absolute tax burden borne by buyers and sellers.
d. relative tax burden borne by buyers and sellers.
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Jeff and Casey, who are currently both working full-time jobs, are about to have their first child. They are trying to decide if they are both going to keep working. What benefit are they MOST likely to experience if they choose a dual-income option?
a.They will have a lower amount of childcare expenses.
b. They will have a greater amount of financial income.
c. They will have less disposable income.
d. They will have more time to spend with their new baby
Answer:
They will have a greater amount of financial income
Extra Credit: The people of the Philippines are no stranger to typhoons and yet most people were caught off guard when the typhoon Haiyan struck and caused unprecedented number of casualties. The main reason for this was due to:_____.a. extremely strong winds that destroyed homes.b. massive flooding caused by extremely rapid and high storm surges.c. very strong rate of rainfall that triggered massive landslides.d. massive amounts of rainfall that led to dam failures throughout the Philippines.
Answer:
a. extremely strong winds that destroyed homes
Explanation:
The people of the Philippines are no stranger to typhoons and yet most people were caught off guard when the typhoon Haiyan struck and caused unprecedented number of casualties. The main reason for this was due to extremely strong winds that destroyed homes.
The typhoon Haiyan was unlike any other typhoon the people of Philippines were accustomed to, or even Asia as a continent. It came with extremely strong winds that completely leveled everything in its path, leaving in its wake a mass of casualties and both human and infrastructure.
Justin, an employee of Widget Corp., is hesitant to leave the company because he thinks that he will lose a great deal of his investments in time, effort, and benefits. In the context of organizational commitments, it is evident that Justin experiences _____. Group of answer choices normative commitment conjoint commitment affective commitment continuance commitment
Answer:
Continuance commitment
Explanation:
Organizational Commitment
This is commonly defined as employee desire or will to remain a member of the organization. It is said to influences whether an employee stays a member of the organization (is retained) or leaves to pursue another job (turns over).
Continuance Commitment
This is a type of commitment that is said to occur only when there is a profit associated with staying and a cost associated with leaving. This usually create a more passive form of loyalty. continuance commitment increases in terms of the total amount of investment (in terms of time, effort, energy, etc.) an employee has made in mastering his work role or fulfilling his organizational duties or lack of employment alternatives etc.
An analyst forecasts dividends over the next three years for ABC Company of $1.25, $2.00, and $2.50 respectively. He also expects that the dividend will grow at a constant rate of 3% forever after the third year. If the required rate of return is 12%, ABC stock price is closest to:
Answer:
$24.85
Explanation:
The stock price of the abc is given below:
Value of Stock after Year 3 = (Forecasted Dividend for Year 3 × Growth Rate) ÷ (Required Rate of Return - Growth Rate of Dividend)
= (2.5 × 1.03) ÷ (0.12-0.03)
= 28.61
Now
Current Stock Price = PV of all Future Dividends and Present Value of Stock after Year 3
=(1.25 ÷ 1.12) + (2 ÷ 1.12^2) + (2.5 ÷ 1.12^3) + (28.61 ÷ 1.12^3)
= 1.1161 + 1.5944 + 1.7795 + 20.3640
= $24.85
Franchises are attractive to business owners because
they have a proven business model.
they are typically inexpensive to buy.
they get to keep all profits.
they come with very little risk.
A. they have a proven business model.
Franchises are attractive to business owners because they have a proven business model. The correct option is A.
Why are franchises attractive?Franchises give larger companies the ability to expand and spread out while also allowing entrepreneurs and small business owners the chance to manage their own operations with the assistance and support of a larger organization with a track record of success. Franchising is a seductive strategy for achieving commercial success.
In a franchise, the business owner (the franchisor) sells the right to use its brand, goods, and operational procedures to the franchisee (the person who wants to open a new location) in exchange for a fee.
The fact that the franchisor has previously created and put the business model through testing is one of the key advantages of owning a franchise. As opposed to starting a new company from scratch, the franchisee can take advantage of the franchisor's knowledge and expertise, which lowers the risk of failure.
Thus, the ideal selection is option A.
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If the risk-free rate is 7.0%, the market risk premium is 9.0%, and the expected return on Security J is 23.8%, what is the beta for Security J
Answer:
the beta for Security J is 1.87
Explanation:
The computation of the beta is given below
As we know that
Expected return = risk free rate of return + beta ×market risk premium
23.8% = 7.0% + beta × 9.0%
So, the beta is
= (23.8% - 7.0%) ÷ 9.0%
= 1.87
Hence, the beta for Security J is 1.87
In the balance sheet at the end of its first year of operations, Dinty Inc. reported an allowance for uncollectible accounts of $82,600. During the year, Dinty wrote off $30,400 of accounts receivable it had attempted to collect and failed. Credit sales for the year were $2,310,000, and cash collections from credit customers totaled $1,920,000. What bad debt expense would Dinty report in its first-year income statement
Answer:
$113,000
Explanation:
Calculation to determine What bad debt expense would Dinty report in its first-year income statement?
Using this formula
Bad debts expense - Write-offs = Change in Allowance balance
Bad debts expense = Change in Allowance balance + Write-offs
Let plug in the formula
Bad debts expense=$82,600+$30,400
Bad debts expense=$113,000
Therefore the bad debt expense that Dinty would report in its first-year income statement is $113,000
Watson Company has monthly fixed costs... Watson Company has monthly fixed costs of $74,000 and a 50% contribution margin ratio. If the company has set a target monthly income of $14,100, what dollar amount of sales must be made to produce the target income?
a. $176,200
b. $88,100
c. $148,000
d. $28,200
e. $119,800
Answer:
a. $176,200
Explanation:
The computation of the dollar amount of sales must be made to produce the target income is shown below:
= (Fixed cost + target monthly income) ÷ contribution margin ratio
= ($74,000 + $14,100) ÷ 50
= $176,200
Hence, the dollar amount of sales must be made to produce the target income is $176,200
Therefore the option a is correct
XYZ Co. manufactures printers. For each unit, $3,600 of direct material is used and there is $2,400 of direct manufacturing labor at $20 per hour. Manufacturing overhead is applied at $18 per direct manufacturing labor hour. Calculate the profit earned on 60 units if each unit sells for $8,600.
Answer:
The profit earned on 60 units would be $ 26,400.
Explanation:
Given that XYZ Co. manufactures printers, and for each unit, $ 3,600 of direct material is used and there is $ 2,400 of direct manufacturing labor at $ 20 per hour, and manufacturing overhead is applied at $ 18 per direct manufacturing labor hour, to calculate the profit earned on 60 units if each unit sells for $ 8,600 the following calculation must be performed:
2400/20 = 120
Unit costs = 3600 + 2400 + (120 x 18) = 8160
Earnings = (8600 - 8160) x 60 = 26,400
Therefore, the profit earned on 60 units would be $ 26,400.
Derrick recently got married and has a small child. For the first time in his life, he worries about what will happen to his home and his other property after he dies. He also wants to make sure his child is taken care of if he dies. What should Derrick prepare? A. a will B. a power of attorney C. a health insurance policy D. a consideration
Answer:
A. a will
Explanation:
A will / testament is a legally binding document that expresses the person wishes as to how they would like to use or distribute their property after their death and also that happened after to their belongings. As to which persons is responsible for managing their property.4. An investment offers $10,000 per year for 20 years. If an investor can earn 6 percent annually on other investments, what is the current value of this investment
Answer:
PV= $114,699.21
Explanation:
Giving the following information:
Annual payment= $10,000
Number of years= 20
Interest rate= 6%
To calculate the present value, we need to use the following formula:
PV= A*{(1/i) - 1/[i*(1 + i)^n]}
A= annual payment
PV= 10,000*{(1/0.06) - 1 / [0.06*(1.06^20)]}
PV= $114,699.21
Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials purchased 20,000 pounds Standard price of direct materials $ 3.00 per pound Material price variance $ 2,000 Unfavorable Material quantity variance $ 4,000 Favorable The actual price per pound of direct materials purchased in June was:
Answer: $3.10
Explanation:
The actual price per pound of direct materials purchased in June will be calculated as follows:
Let the actual price be represented by x.
Material price variance is calculated as:
= (standard price-actual price) × actual quantity
-2000 = (3 × 20000) - 20000x
-2000 = 60000 - 20000x
20000x = 60000 + 2000
20000x = 62000
x = 62000/20000
x = 3.1
Therefore, the actual price per pound of direct material bought in June is $3.10
how does mcdonaldization affect global relationships?
Answer:
The term McDonalization refers to a sociological and cultural concept by which the situation of depersonalization and automation of social relations and the means of economic production is described, by which it aims to generate automated structures such as those of fast food chains with the objective of optimizing performance and generating efficiency, at the expense of depersonalizing labor and social relations, leading individuals to a greater loss of their collective sentiment.
What improvement tool would you use to identify all possible reasons for the increase in complaints about the HIM department
Answer:
The correct answer is "Brainstorming".
Explanation:
Brainstorming would've been utilized to uncover probable explanations for rising accusations, is a simple as well as inconspicuous technique of transferring information or ideas.The approach provides somebody with a venue to voice their feelings or views without anyone being excluded. This same information gathered would indeed help to pinpoint the primary reason.Thus, the above is the right answer.
Under absorption costing, fixed manufacturing overhead is expensed at the time the units are produced. Under variable costing, fixed manufacturing overhead is expensed at the time the units are sold.A. TrueB. False
Answer:
A. True
Explanation:
In the case of absorption costing, the fixed manufacturing overhead should be incurred at the time when the units are generated or produced. While on the other hand, in the case of variable costing the fixed manufacturing overhead should be incurred at the time when the units are sold
Therefore the given statement is true
Hence, the correct option is a.
will lend you $10,000 today with terms that require you to pay off the loan in 36 monthly installments of $500 each. What is the effective annual rate of interest that Laura is charging you
A maker of soaps and lotions noticed a blind person having difficulty comparing products while shopping in one of her stores. She launched an initiative to include Braille on the packaging of all products her company produced. Which social responsibility stance below did the business owner demonstrate? Obstructionist Proactive Accommodating Defensive
Answer:
Proactive
Explanation:
Did the test myself
Proactive is the social responsibility stance below did the business owner demonstrate. Hence, option B is correct.
What is Proactive?Being proactive is defined as "doing something in advance of an issue, a need, or a change." Being proactive entails planning for the future and placing more emphasis on the variables under your control than those outside of it. It also entails accepting accountability.
Being proactive frequently translates into leadership abilities. A proactive worker, for instance, frequently foresees the requirements of their team before others do, and they seek to address those needs. The employee may initiate contact with their supervisor to discuss issues rather than waiting for orders from them.
Employees who are proactive are driven by their own goals, creative problem solvers, and chances seekers. People are more engaged and productive at work when they feel supported and trusted by their employer. Benefits of urging workers to take initiative at work
Thus, option B is correct.
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