Answer:
General and administrative
Explanation:
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
Generally, financial statements are the formally written records of the business and financial activities of a business entity or organization.
There are four (4) main types of financial statements and these are;
1. Balance sheet: it contains financial information about assets, liability, and equity.
2. Cash flow statement: it contains financial information about operating, financial and investing activities.
3. Income statement: it contains financial information about the income and expenses of an organization.
4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.
Depreciation can be defined as a process in which the monetary or financial value with respect to an asset decrease or falls over time as a result of wear and tear.
This ultimately implies that, depreciation is a process which typically involves the general fall in the value of an asset such as currency, plant equipment or machinery etc over a specific period of time.
Basically, depreciation is a type of expense and it is included in the general and administrative (G&A) category of a balance sheet.
A general and administrative (G&A) can be defined as the expenditures that are required for the smooth running or operations of a business, which are not associated with the manufacturing of goods.
All companies try to have happy workers as they know the relationship between satisfaction and performance. This is why they are focusing on motivating their employees in a variety of ways. From what you have learned please suggest what companies should do to have a working place that could effectively motivate their employees.
Answer:
1. Reward and incentivize workers
2. Set smaller weekly or biweekly goals for them.
3. Foster trust between the managers and workers.
Explanation:
In order to have workers who are motivated to put in their best in the company, employers should take certain positive actions. These actions include;
1. Reward and incentivize workers: Rewards which could be monetary, as word of praise, or formal recognition can move workers to give their best. Humans are motivated when their efforts are recognized and praised. Therefore, incentivizing workers is a good way to get them motivated.
2. Set smaller weekly or biweekly goals for them: Setting humongous goals and targets can scare off and pressurize the workers. But when these large goals are broken into smaller goals, they can then be motivated to reach those goals.
3. Foster trust between the managers and workers: When workers have a sense of belonging and know that they are trusted, they will be in a more relaxed frame to achieve their goals. Unwarranted allegations and suspicions can put the workers on edge.
A company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixed costs of $150,000. The number of units the company must sell to break even is:___________.
A. 50,000 units.
B. 300,000 units.
C. 75,000 units.
D. 30,000 units.
Answer:
c
Explanation:
Breakeven quantity are the number of units produced and sold at which net income is zero
If the sales of a company exceeds the breakeven quantity, the firms is earning a profit.
If the company's sales is less than the Breakeven quantity , the firm is making losses that would not be recouped
Breakeven quantity = fixed cost / price – variable cost per unit
150,000 / (5 -3) = 75000
At the beginning of the period, the Cutting Department budgeted direct labor of $125,000, direct materials of $151,000 and fixed factory overhead of $11,800 for 8,000 hours of production. The department actually completed 10,600 hours of production. What is the appropriate total budget for the department, assuming it uses flexible budgeting? Round hourly rates to two decimal places. Round interim calculations to two decimal places. Round your final answer to the nearest dollar. a.$381,335 b.$377,606 c.$291,635 d.$287,800
Answer:
the appropriate total budget should be $377,500
Explanation:
The computation of the appropriate total budget should be given below:
Direct material ($151,000 ÷ 8,000 × 10,600) $200,075
direct labor ($125,000 ÷ 8,000 × 10,600) $165,625
fixed factory overhead $11,800
Total budget cost 377,500
Hence, the appropriate total budget should be $377,500
This is the answer but the same is not provided in the given options
You were asked to read U.S. Statistics in 1912 and in your writing journal, you reflected upon how different your life would be had you lived 100 years ago. The learning objective of this assignment was:__________
Explanation:
Hi, you've asked an incomplete question. However, based on inference, after consult relevant academic material, the learning objective on this particular assignment is stated below;
"To think about things like your education, career goals, romantic relationships, how you get around, and your physical health, write at least one paragraph explaining how such aspects of your life would have changed had you lived in the early 1900s."
Which of the following combinations is ensured to increase?
please you can give any option or full question
Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contribution margin are as follows.
Sales Mix Unit Contribution Margin
Lawnmowers 20% $33
Weed-trimmers 50% $21
Chainsaws 30% $37
Yard Tools has fixed costs of $4,200,000.
Required:
Compute the number of units of each product that Yard Tools must sell in order to break even under this product mix.
Answer:
Lawnmowers’ break-even point in units = 29,787 units
Weed-trimmers’ break-even point in units = 74,468 units
Chainsaws' break-even point in units = 44,681 unit
Explanation:
Given:
Sales Mix Unit Contribution Margin
Lawnmowers 20% $33
Weed-trimmers 50% $21
Chainsaws 30% $37
The number of units of each product that Yard Tools must sell in order to break even under this product mix can be computed using Weighted-Average Contribution Margin Ratio as follows:
Weighted contribution margin = (Sales Mix of Lawnmowers * Unit Contribution Margin of Lawnmowers) + (Sales Mix of Weed-trimmers * Unit Contribution Margin of Weed-trimmers) + (Sales Mix of Chainsaws * Unit Contribution Margin of Chainsaws) = (20% * $33) + (50% * $21) + (30% * $37) = $28.20
Total break-even point in units for the company = Fixed cost / Weighted contribution margin = $4,200,000 / $28.20 = 148,936 units
Therefore, we have:
Lawnmowers’ break-even point in units = Sales Mix of Lawnmowers * Total break-even point in units for the company = 20% * 148,936 = 29,787 units
Weed-trimmers’ break-even point in units = Sales Mix of Weed-trimmers * Total break-even point in units for the company = 50% * 148,936 = 74,468 units
Chainsaw’s break-even point in units = Sales Mix of Chainsaws * Total break-even point in units for the company = 30% * 148,936 = 44,681 units
When Matt has an income of $2,000, he consumes 30 units of good A and 50 units of good B. After Matt's income increases to $3,000, he consumes 25 units of good A and 95 units of good B. Which of the following statements is correct?
a. Both goods A and B are normal goods.
b. Both goods A and B are inferior goods.
c. Good A is a normal good, and good B is an inferior good.
d. Good A is an inferior good, and good B is a normal good.
Answer:
onoooooo seeeeeeeeeeeeeeeeeeeeeeeeeeeeee
When Matt has an income of $2,000, he consumes 30 units of good A and 50 units of good B. After Matt's income increases to $3,000, he consumes 25 units of good A and 95 units of good B. Good A is a normal good, and good B is an inferior good is the correct statement. Option C is the correct answer.
A normal good is a type of good for which demand increases as income increases. In this scenario, as Matt's income increases from $2,000 to $3,000, his consumption of good A decreases from 30 units to 25 units. This indicates an inverse relationship between his income and the quantity of good A consumed, suggesting that good A is a normal good. Option C is the correct answer.
On the other hand, an inferior good is a type of good for which demand decreases as income increases. In this case, as Matt's income increases, his consumption of good B increases from 50 units to 95 units. This suggests a positive relationship between his income and the quantity of good B consumed, indicating that good B is an inferior good.
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Inflation imposes many costs on the economy: shoe-leather costs, money illusion, menu costs, wealth redistribution, price confusion, future price level uncertainty, and tax distortions.
a. True
b. False
Answer: True
Explanation:
Inflation refers to the decline in the purchasing power of a currency over time. Inflation creates shoe leather cost which refers to the cost of time and.the effort by which individuals spend so as to mitigate the effects of inflation, like holding fewer cash.
Also, inflation creates money illusion as there's reduction in the value of money that one holds. Inflation creates menu costs as prices goes up. It also brings about wealth redistribution, price confusion, future price level uncertainty, and tax distortions.
Therefore, the correct option is True.
A company's ratio of liabilities to stockholders' equity decreased from 0.6 to 0.4 during the year. This is a.an improvement in the margin of safety for creditors. b.an indication that the company's level of debt is increasing. c.a negative change in the company's financial position. d.an improvement in the company's net income.
Answer:
A)an improvement in the margin of safety for creditors.
Explanation:
Margin of safety can be regarded as a principle of investing whereby an investor only make purchases of securities during the time when the market price is below their intrinsic value significantly. In a case whereby
the market price of a security falls below ones estimation of its intrinsic value significantly, then the difference that exist there is regarded as margin of safety. Margin of safety can as well be regarded as financial ratio which gives measurement of the amount of sales which exceed the break-even point. Most times investors may create a margin of safety with regards to their own risk preferences, purchasing of securities in a time that there is a difference give room for an investment to be made with minimal downside risk.
For instance, company's ratio of liabilities to stockholders' equity decreased from 0.6 to 0.4 during the year.
Cost of Goods Sold, Cost of Goods Manufactured
Glenville Company has the following information for April:
Cost of direct materials used in production $41,000
Direct labor 47,000
Factory overhead 20,000
Work in process inventory, April 1 34,000
Work in process inventory, April 30 27,000
Finished goods inventory, April 1 24,000
Finished goods inventory, April 30 18,000
a. For April, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured.
b. For April, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold.
Answer and Explanation:
a. The preparation of the statement of Cost of Goods Manufactured is presented below:
Work in process inventory, April 1 34,000
Add:
Cost of direct materials used in production $41,000
Direct labor 47,000
Factory overhead 20,000
Less:
Work in process inventory, April 30 27,000
Cost of goods manufactured $115,000
b. The preparation of the statement of Cost of Goods Sold is presented below:
Finished goods inventory, April 1 24,000
Add: cost of goods manufactured $115,000
Less: Finished goods inventory, April 30 18,000
Cost of goods sold $121,000
Denny Corporation is considering replacing a technologically obsolete machine with a new state-of-the-art numerically controlled machine. The new machine would cost $130,000 and would have a ten-year useful life. Unfortunately, the new machine would have no salvage value. The new machine would cost $16,000 per year to operate and maintain, but would save $46,000 per year in labor and other costs. The old machine can be sold now for scrap for $13,000. The simple rate of return on the new machine is closest to (Ignore income taxes.):
Answer:
The simple rate of return on the new machine is closest to 14.53%.
Explanation:
Assuming a straight-line depreciation method, we have:
Annual deprecation = Cost of the new machine / Useful life = $130,000 / 10 = $13,000
Net annual benefit = Annual saving - Annual operating and maintenance cost - Annual deprecation = $46,000 - $16,000 - $13,000 = $17,000
Net investment = Cost of the new machine - Scrap value of the old machine = $130,000 - $13,000 = $117,000
Simple rate of return on the new machine = Net annual benefit / Net investment = $17,000 / $117,000 = 0.1453, or 14.53%
Therefore, the simple rate of return on the new machine is closest to 14.53%.
If Hawk Manufacturing incurs $600,000 during a joint manufacturing process before the split-off point, that $600,000 represents the
Answer:
Joint cost incurred in the process
Explanation:
In domain of accounting, a joint cost can be regarded as a cost that is been incurred in a joint process. Joint costs may encompass costs like direct material,overhead costs as well as direct labor that is been incurred during a joint production process.
joint production process can be regarded as one whereby one input give yields of multiple outputs. This process helps to automatically creates other types of output product when creating one type of output.
For instance, Joint cost when a Manufacturing company incurs $600,000 during a joint manufacturing process before the split-off point, that $600,000 represents the Joint cost .
In this type of budget, the master budget is based on a single prediction for sales volume, and the budgeted amount for each cost essentially assumes that a specific amount of sales will occur. Group of answer choices Flexible budget. Variable budget. Standard budget. Fixed budget.
Answer:
Fixed budget.
Explanation:
A fixed budget can be regarded as financial plan which is not been modified for any variations that could come up in actual activity. In most times some companies may have experience of substantial variations as regards their expected activity levels within the encompassed period of budget as well as the amounts in that budget. The budget cost allowances in a fixed budget for each cost item cannot be changed as regards the variable items. It should be noted that in Fixed budget the master budget is based on a single prediction for sales volume, and the budgeted amount for each cost essentially assumes that a specific amount of sales will occur.
Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 26 percent for the next 3 years, with the growth rate falling off to a constant 7 percent thereafter. If the required return is 14 percent and the company just paid a $1.90 dividend. what is the current share price
Answer:
$46.20
Explanation:
Dividend in year 1 = 1.90 x 1.26 = 2.39
Dividend in year 2 = 1.90 x 1.26² = 3.02
Dividend in year 3 = 1.90 x 1.26³ = 3.80
Dividend in year 3 = (3.80 x 1.07) / (0.14 - 0.07) = 58.10
Calculate the present value of these dividends
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 = 2.39
Cash flow in year 1 = 3.02
Cash flow in year 1 = 3.80 + 58.10
I = 14
PV = $46.20
To determine PV using a financial calculator take the following steps:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
A small ice cream business earns $26538 profit during the two months of July and August. This represents 35% of the annual profit. Find the annual profit. Round to the nearest whole number.
Let the annual profit be x.
profit earned in July and August is 35% of the annual profit
=> $26538 = 35% of x
=> $26538 = (35/100) × x
=> $26538 × (100/35) = x
=> $2653800/35 = x
=> $530760/7 = x
So, the profit is $530760/7.
The annual profit is $75,823.
Given that,
Two months profit is $26,538.This two month profit represents 35% of annual profit.We need to find annual profit.According to the scenario, computation of the given data are as follows,
Let annual profit be X.
So, X [tex]\times[/tex] 35% = 26,538
X = 26,538 [tex]\div[/tex] 0.35
X = 75,822.86 or 75,823
Hence annual profit = $75,823.
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The descriptive term used to explain how people, businesses, and countries around the world are more interdependent because of the changes in forces like transportation, media, technology, and global finance is ________.
Answer:
Globalization
Explanation:
Globalization can be regarded as process which involves integration as well as interaction of people across the globe as well as companies and governments across the world. Globalization has improved as result of advances in transportation as well as communication technology which makes the to come together.
It should be noted that Globalization explained how people, businesses, and countries around the world are more interdependent because of the changes in forces like transportation, media, technology, and global finance.
A new machine requires an investment of $630,000 and will generate $100,000 in cash inflows for 7 years, at which time the salvage value of the machine will be $130,000. Using a discount rate of 10%, the net present value of the machine is $_________
Answer:
$-76,447.56
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in Y0 = -630,000
Cash flow in Y1 - Y6 = 100,000
Cash flow in Y7 = 100,000 + 130,000
I = 10%
npv = $-76,447.56
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Answer:
-76,510, (76,510)
Explanation:
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
Randel Manufacturing has five activity cost pools and two products (a budget tape vacuum and a deluxe tape vacuum). Information is presented below:
Cost Drivers by Product Activity Cost Pool Ordering and Receiving Machine Setup Machinine Assembly Inspection Cost Driver Estimated Overhead Budget Deluxe $130,000 Orders Setups Machine hours Parts 400 400 150,000 100,000 600 297,000 500 1,000,000 600,000 1,200,000 800,000 300,000 550 450
Compute the overhead cost per unit for each product. Production is 700,000 units of Budget and 200,000 units of Deluxe. (Round overhead cost per unit to 2 decimal places, eg. 12.25 and cost assigned to O decimal places, eg. 2,500)
Overhead cost per unit
Budget S per unit
Deluxe $ per unit
Answer:
Randel Manufacturing
Overhead cost per unit
Budget $2.81 per unit
Deluxe $6.80 per unit
Explanation:
a) Data and Calculations:
Cost Drivers by Product
Activity Cost Pool Cost Driver Estimated Budget Deluxe
Overhead
Ordering and Receiving Orders $130,000 600 400
Machine Setup Setups 297,000 500 400
Machining Machine hours 1,000,000 150,000 100,000
Assembly Parts 1,600,000 1,200,000 800,000
Inspection Inspections 300,000 550 450
Cost Pool Overhead Rates
Ordering and Receiving $130 ($130,000/1,000) per order
Machine Setup $330 ($297,000/900) per setup
Machining $4 ($1,000,000/250,000) per machine hour
Assembly $0.80 ($1,600,000/2,000,000) per part
Inspection $300 ($300,000/1,000) per inspection
Estimated Rates Budget Deluxe
Overhead
Ordering and Receiving $130 $78,000 $52,000
Machine Setup $330 165,000 132,000
Machining $4 600,000 400,000
Assembly $0.80 960,000 640,000
Inspection $300 165,000 135,000
Total overhead costs $1,968,000 $1,359,000
Production units 700,000 200,000
Overhead per unit $2.81 $6.80
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
A small component is purchased for the use in the production of a major product. The standard price of the component is $0.85. During a recent period, 7,800 units were purchased and 6,800 were actually used. The standard quantity of units allowed for the actual output of the period was 6,540 units. What was the materials quantity variance
Answer:
See below
Explanation:
Given the above information,
Material quantity variance is computed as;
= (Actual quantity - Standard quantity of units allowed for the actual output )
Actual quantity = 6,800 units
Standard quantity = 6,540 units
= 6,800 - 6,540
= 260 units
Therefore, the materials quantity variance is 260 Unfavourable.
It is unfavourable because the standard is higher than the actual
Purple Cab Company had 57,000 shares of common stock outstanding on January 1, 2021. On April 1, 2021, the company issued 27,000 shares of common stock. The company had outstanding fully vested incentive stock options for 5,700 shares exercisable at $11 that had not been exercised by its executives. The average market price of common stock was $13. The company reported net income in the amount of $276,915 for 2021. What is the basic earnings per share (rounded)
Answer:
$3.58
Explanation:
Calculation to determine the basic earnings per share (rounded)
Using this formula
Basic earnings per share=Net income/(shares of common stock outstanding+(shares of common stock*9/12)
Let plug in the formula
Basic earnings per share=$276,915/(57,000 + (27,000 × 9/12))
Basic earnings per share=$276,915/(57,000+20,250)
Basic earnings per share=$276,915/77,250
Basic earnings per share= $3.58
(April 1 to December 31 =9 months)
Therefore Basic earnings per share is $3.58
During a risk brainstorming session a team member identifies a risk. This particular risk does not seem to belong to any of the categories in you Risk Breakdown Structure (RBS). How should you respond
Answer:
Record it in the risk register, discuss potential responses and make a note to update the RBS.
Explanation:
Risk management is the process by which the management of an organisation identifies, assessed, and controls threats that may affect the company's capital or earnings.
The risks can be as a result of natural disasters, management error, financial uncertainty, or accidents.
In the given instance if a risk is not on any of the categories in you Risk Breakdown Structure (RBS), there is need to record it in the risk register, discuss potential responses and make a note to update the RBS.
Your company buys a computer system from IBM for $3 million and pays IBM $200,000 to install the computer system. The $3 million is on credit and your company pays $100,000 of interest on the loan in the current year. The acquisition cost of the computer system at the end of the current year will be
Answer:
$3.2 million
Explanation:
Calculation to determine what The acquisition cost of the computer system at the end of the current year will be
Using this formula
Acquisition cost=Purchase price+ Installation cost
Let plug in the morning
Acquisition cost= $3 million +$200,000
Acquisition cost=$3.2 million
Therefore The acquisition cost of the computer system at the end of the current year will be $3.2 million
Suppose an industrial building can be purchased for $2,500,000 today and is expected to yield cash flows of $180,000 each of the next five years. (Note: assume cash flows are received at end of year.) If the building is expected to be sold at the end of the fifth year for $2,800,000, calculate the IRR for this investment over the five year holding period
Answer: 9.20%
Explanation:
Use Excel to find out the IRR.
Ensure that you write the purchase price in negatives as shown in the attached picture.
The cashflow for the last year will be the sum of the selling price and the cash flow.
= 2,800,000 + 180,000
= $2,980,000
IRR = 9.20%
The master budget of a merchandising company includes a:_______
a. Production budget.
b. Direct materials budget.
c. Factory overhead budget.
d. Direct labor budget.
e. Purchases budget.
Answer:
a. Production budget.
Explanation:
hope it helps :>
Labor productivity is?
Answer:
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure.
In ________ organizational cultures, more individuality is shown through the organization’s rules being less strictly applied.
Answer:
weak
Explanation:
An organizational culture can be defined as the shared norms, beliefs, assumptions and values that exist in an organization.
An ethical climate can be defined as a collection of behaviors that are considered to be acceptable and correct within an organization or business firm. Also, an ethical climate provides the human resources management of an organization with a framework or benchmark on how employee behavioral issues or ethical problems are to be managed or handled within the organization.
In weak organizational cultures, more individuality of an employee working within an organization is shown as a result of the organization’s rules being less strictly applied.
On a related note, the rules guiding an organization are generally strictly being applied in strong organizational culture.
According to the growth accounting studies, if you lived in a country where illiteracy was high and 40% of the children left school early and did not complete their education what would probably be the results for that country
Answer: b. There would be both a human and economic loss.
Explanation:
Education is usually necessary for economic growth as educated human beings are better able to engage in higher income businesses and services and come up with or be able to use better technology that would serve to improve the economy of a country.
This is why developed countries have such high literacy rates and developing countries lag behind. Research has shown that most developed countries really saw growth only after they pursed a national policy aimed at improving literacy.
Mark the statements that are TRUE.
Technology means the type of natural resources that are available.
Careful study and review is known as capital.
It would not make much sense to force an unskilled laborer to work in a surgical position,
Your nation's labor force includes people who want to work but do not have a job at the moment.
Your nation's money is considered capital.
Answer:
true statements are
b
c
d
e
Answer:
Tecnología significa el tipo de recursos naturales que están disponibles. V
El estudio y la revisión cuidadosos se conocen como capital. F
No tendría mucho sentido obligar a un trabajador no calificado a trabajar en un puesto quirúrgico. V
La fuerza laboral de su país incluye personas que quieren trabajar pero que no tienen trabajo en este momento.V
El dinero de su nación se considera capitalV .
Explanation:
