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
What's the meaning of the symbol S3?
A. One three-way switch
B. A single switch mounted at 3'0"
C. Three single-pole switches
D. a triple-pole switch
The answer is A
One three-way switch
what does it mean to be "in the red"
Answer:
The expression "in the red" is used to describe a business that has negative earnings. This is in contrast to the phrase "in the black" which refers to businesses that are profitable and financially solvent. ... Before the use of computers, accountants recorded income in black ink and expenses in red ink.Explanation:
I hope it helped❤hey buddy can u do a favor to mehey buddy can u do a favor to meif u don't mind ......plz subscribe to my UTube channel - gtron9528Franchises 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.
Learn more about franchises here:
https://brainly.com/question/29376853
#SPJ5
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.
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
On May 7, Jernigan Company purchased on account 640 units of raw materials at $15 per unit. During May, raw materials were requisitioned for production as follows: 224 units for Job 200 at $13 per unit and 294 units for Job 305 at $15 per unit.
Required:
Journalize the entry on May 7
Answer:
Date Account Title Debit Credit
May 7 Materials $9,600
Accounts Payable $9,600
Working:
= Units purchased * cost per unit
= 640 * 15
= $9,600
As the goods were purchased on account, they will be sent to accounts payable. Materials are assets so they will be debited when acquired.
View Policies Current Attempt in Progress In January, Dieker Company requisitions raw materials for production as follows: Job 1 $910, Job 2 $1,700, Job 3 $800, and general factory use $650. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount enter an account title for the journal entry on January 31
Answer:
Dieker Company
Journal Entry:
Debit Work in Process $3,410
Debit Manufacturing overhead $650
Credit Raw materials $4,060
To record raw materials used for production.
Explanation:
a) Data and Calculations:
Job 1 $910
Job 2 $1,700
Job 3 $800 $3,410
General factory use $650
Total $4,060
Transaction Analysis:
Work in Process $3,410 Manufacturing overhead $650 Raw materials $4,060
b) While the summary journal entry is made in Work in Process, the detailed entries are made in Job 1, Job 2, and Job 3 cost sheets.
A sporting goods manufacturer budgets production of 45,000 pairs of ski boots in the first quarter and 30,000 pairs in the second quarter of the upcoming year. Each pair of boots require 2 kg of a key raw material. The company aims to end each quarter with ending raw materials inventory equal to 20% of the following quarter's material needs. Beginning inventory for this material is 18,000 kg and the cost per kg is $8. What is the budgeted materials need in kg. in the first quarter?
A) 90,000 kg.
B) 84,000 kg.
C) 108,000 kg.
D) 102,000 kg.
E) 120,000 kg.
Answer:
B) 84,000 kg.
Explanation:
The computation of the budgeted materials need in kg. in the first quarter is given below:
begnning inventory 18000
required for production (45000 × 2) 90000
Less: closing (30000 × 2 × 20%) - 12000
Raw material needs 84000
hence, the budgeted materials need in kg. in the first quarter is 84,000
Therefore the option b is correct
You are going to retire in 43 years. After retirement, you need $80,000 at the end of year for 25 years. How much do you have to save for your retirement every month
Answer:
Results are below.
Explanation:
I will assume an interest rate of 8% per year.
First, we need to calculate the amount required at the moment of retirement:
PV= A*{(1/i) - 1/[i*(1 + i)^n]}
PV= 80,000 * {(1/0.08) - 1/[0.08*(1.08^25)]}
PV= $853,982.1
Now, the monthly deposit required:
i= 0.08/12= 0.0067
n= 43*12= 516
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (853,982.1*0.0067) / [(1.0067^516) - 1]
A= $188.43
What is the internal rate of return of a project costing $3,000; having after-tax cash flows of $1,500 in each of the two years of its two-year life; and a salvage value of $800at the end of the second year in addition to the $1,500 cash flow?a) 13%.
b) 15%.
c) 16%.
d) 19%.
Your company is estimated to make dividends payments of $2.2 next year, $3.9 the year after, and $4.8 in the year after that. The dividends will then grow at a constant rate of 2% per year. If the discount rate is 9% then what is the current stock price?
Answer:
$63.01
Explanation:
The share price today is the present value of expected future cash flows which in this case are the expected future dividends and the terminal value of dividends beyond the 3rd year.
Year 1 dividend =$2.2
Year 2 dividend =$3.9
Year 3 dividend =$4.8
Terminal value=Year 3 dividend*(1+constant growth rate)/(required rate of return-constant growth rate)
constant growth rate=2%
the required rate of return=9%
Terminal value=$4.80*(1+2%)/(9%-2%)
Terminal value=$69.94
Present value of a future cash flow=cash flow/(1+required rate of return)^n
n is 1 for year 1 dividend, 2 for year 2 dividend , 3 for year 3 dividend, and terminal value(terminal value is stated in year 3 terms)
stock price=$2.2/(1+9%)^1+$3.9/(1+9%)^2+$4.8/(1+9%)^3+$69.94/(1+9%)^3
stock price=$63.01
n Office Manager uses a Periodic Review Inventory System: they check the inventory in their Office Supply Closet once every 10 days, placing an order with their supplier depending on the inventory level of the office supplies. The manager has set a restocking level of 300 post it notes for their closet. This week, the manager has counted 140 post it notes in the closet. How many post it notes will the manager order from their supplier? In other words, what is the Order Quantity?
Answer: 160
Explanation:
The number of post it notes that the manager will order from their supplier will be the difference between the restocking level and the inventory at the time of review. This will be:
= Restocking level - Inventory at the time of review
= 300 - 140
= 160
Therefore, the order quantity is 160.
Gantner Company had the following department information about physical units and percentage of completion: Ch21_Q64 If materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May
Answer:
200,000 units
Explanation:
The computation of the total no of equivalent units for material during may month is given below:
Units added during May is
= 150,000 + 50,000
= 200,000 units.
Hence, the total no of equivalent units for material during may month is 200,000 units
The same should be considered and relevant
Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 15,500 units, 100% complete with respect to materials cost and 20% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $25,200. A total of 53,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.6 for materials and $3.3 for conversion costs. The total cost of the units completed and transferred out of the department was:
a. $259,700
b. $254,180
c. $189,740
d. $225,380
Answer:
a. $259,700
Explanation:
The computation of the total cost of the units completed and transferred out of the department is given below:
= 53,000 units × $1.6 + 53,000 un$its × $3.3
= $84,800 + $174,900
= $259,700
Hence, the total cost of the units completed and transferred out of the department is $259,700
The Chandler Group wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking up". As a result, the cemetery project will provide a net cash inflow of $57,000 for the firm during the first year, and the cash flows are projected to grow at a rate of 7 percent per year forever. The project requires an initial investment of $759,000. The firm requires a 14 percent return on such undertakings. The company is somewhat unsure about the assumption of a 7 percent growth rate in its cash flows. At what constant rate of growth would the company just break even?
Answer: 6.49%
Explanation:
The constant rate of growth where the company would break even will be calculated thus:
Initial investment = Net cash inflow / (14% - g)
759000 = 57,000/(0.14 - g)
where g = growth rate
759000 = 57,000/(0.14 - g)
Cross multiply
759000(0.14 - g) = 57000
106260 - 759000g = 57000
759000g = 106260 - 57000
759000g = 49260
g = 49260/759000.
g = 0.0649
g = 6.49%
The growth rate that would lead the business to breakeven is 6.49%.
At breakeven, the growth rate would lead to the cash inflows from the project being just enough to pay back the initial investment put into the catering business.
This growth rate is calculated by the formula:
Growth rate = ( (Investment * return rate) * - First cash inflow) / Investment
= ( (759,000 * 14%) - 57,000) / 759,000
= 6.49%
The growth rate that would lead the business to breakeven is therefore 6.49%.
Find out more at https://brainly.com/question/13186160.
Cute Camel Woodcraft Company is considering a one-year project that requires an initial investment of $500,000; however, in raising this capital, Cute Camel will incur an additional flotation cost of 6%. At the end of the year, the project is expected to produce a cash inflow of $700,000. The rate of return that Cute Camel expects to earn on the project after its flotation costs are taken into account is
Answer:
The correct answer is "32.076%".
Explanation:
Given:
Initial investment,
= $500,000
Cash inflows,
= $500,000
The floatation cost will be:
= [tex]500,000\times 6 \ percent[/tex]
= [tex]30,000[/tex] ($)
The total cost will be:
= [tex]Initial \ investment+Floatation \ cost[/tex]
= [tex]500000+30000[/tex]
= [tex]530000[/tex]
hence,
The rate of return will be:
= [tex]\frac{Inflows}{Cost} -1[/tex]
= [tex]\frac{700000}{530000} -1[/tex]
= [tex]\frac{700000-530000}{530000}[/tex]
= [tex]0.32076[/tex]
= [tex]32.076[/tex] (%)
QS 6-6 Petty cash accounting LO P2 1. Brooks Agency set up a petty cash fund for $150. At the end of the current period, the fund contained $28 and had the following receipts: entertainment, $70; postage, $30; and printing, $22. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period.
Answer and Explanation:
The journal entries are as follows:
1. Petty cash A/c Dr $150
To Cash A/c $150
(Being the establishment of petty cash is recorded)
2.
Entertainment expenses A/c Dr $70
Postage expense A/c Dr $30
Printing A/c Dr $22
To Petty cash A/c $122
(Being the reimbursement of petty cash fund is recorded)
Front Company had net income of $82,500 based on variable costing. Beginning and ending inventories were 1,800 units and 3,200 units, respectively. Assume the fixed overhead per unit was $8.40 for both the beginning and ending inventory. What is net income under absorption costing
Answer:
$94,260.00
Explanation:
There is no doubt that the difference between net income under absorption costing and variable costing method lies in the treatment of fixed cost, under the former, each product is charged with fixed cost while total fixed cost is charged as a period cost under the latter.
In essence, the fixed cost on ending inventory would have been expensed and deducted in arriving at net income under variable cost, in other words, we simply add to net income under variable costing the fixed cost attributable to an increase in ending inventory
income=$82,500+(3200-1800)*$8.40
net income=$94,260.00
If an economy has aggregate price levels that are increasing, but the wage rate stays the same because of downward wage stickiness, what would be the economic consequences
Answer:
Business would fire some employees as labor becomes too expensive and the quantity of real GDP supplied would decrease.
Explanation:
According to the sticky wage [tex]\text{theory}[/tex], when the stickiness enters a market, there is a change in [tex]\text{one direction}[/tex] which will be favored over a change in the other direction.
The [tex]\text{aggregate price level}[/tex] is the measure of overall level of the prices in an economy.
When the [tex]\text{aggregate price level}[/tex] increases, it results in inflation. In an economy, when the aggregate price level increases, and the wage rate remains the same due to the downward wage stickiness, it results in an economy which would fire some of the employees as the labor becomes very expensive and the quantity of the real GDP supplied would also decrease.
This past year inflation in Snowdonia has increased to 150%. As an economic analyst, you are charged with identifying those sectors of the population worst affected by this inflation event. Which group of people is likely to be worst affected by inflation
Answer:
disabled veterans living on fixed (non-adjustable) government transfer payments
Explanation:
Here the group income should remains the fixed or same for the time period so at the time when the price of the goods rised up or the value of the money reduced so it would become hard for the inflation event
Therefore the group of people who deals in veterans i.e. disabled and lived on fixed government transfer payment should be worst impacted by the inflation
Calculate depreciation for year 2 based on the following information: Historical cost $40,000 Useful life 5 years Salvage value $3,000 Year 1 depreciation $7,400
Answer:
Depreciation for year 2 is also $7,400.
Explanation:
Assuming a straight line method of depreciation in which the depreciation is the same for each year, the annual depreciation can be calculated as follows:
Annual depreciation = (Historical cost - Salvage value) / Useful years = ($40,000 - $3,000) / 5 = $7.400
Since annual depreciation is $7,400, that implies that depreciation for year 2 is also $7,400.
What is the nature of DENEL
Answer:
turn-key solutions of defence equipment
Answer:Denel SOC Ltd is a South African state-owned aerospace and military technology conglomerate established in 1992. It was created when the manufacturing subsidiaries of Armscor were split off in order for Armscor to become the procurement agency for South African Defence Force (SADF), now known as the South African National Defence Force (SANDF), and the manufacturing divisions were grouped together under Denel as divisions. The company had been experiencing major financial problems since 2015 and in 2021 it was announced in Parliament that Denel was on the brink of insolvency. The company stated that its woes were due to declining local defence budgets, weakened relationships with key customers and suppliers, the inability to retain or attract skilled personnel, ongoing salary disputes and a Fitch ratings downgrade.
MacKenzie Company sold $780 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 1.5% service charge for sales on its credit cards and credits MacKenzie's account immediately when sales are made. The journal entry to record this sale transaction would be:________ a) Debit Accounts Receivable $780 and credit Sales $780. b) Debit Cash $768.30; debit Credit Card Expense $11.70 and credit Sales $780. c) Debit Cash of $780 and credit Sales $780. d) Debit Cash of $780 and credit Accounts Receivable $780 e) Debit Cash $768.30 and credit Sales $768.30
Answer:
b) Debit Cash $768.30; debit Credit Card Expense $11.70 and credit Sales $780.
Explanation:
Based on the information given the Appropriate journal entry to record this sale transaction would be:
Debit Cash $768.30
($780-$11.70)
Debit Credit Card Expense $11.70
(1.5%*$780)
Credit Sales $780
(To record sales)
A refiner produces heating fuel and gasoline from crude oil in virtually fixed proportions. What can you say about economies of scope for such a firm? What is the sign of its measure of economies of scope, SC?
Answer:
The cost benefits of simultaneous manufacturing do not exist and there are thus no economies as well as range disadvantages. A further explanation is provided below.
Explanation:
Scope savings are environmental impacts if a variety of commodities are produced collectively when producing these commodities collaboratively is far less costly than individually.Throughout this case, the manufacturer can create two items from the main resource although manufacturing takes place in some kind of a set proportion. Therefore includes the amount of production is identical to the expenditure of combined production of the products.Thus the above is the appropriate solution.
Carmichael Inc. has a beginning balance in Accounts Receivable of $100,000 at June 1. On June 24, Carmichael sells $20,000 of merchandise to K. Low, terms 2/10, n/30. Assuming just this one transaction occurred, what is the ending balance in Accounts Receivable at June 30 under the gross method
Answer:
$120,000
Explanation:
Particulars Amount
Beginning balance in accounts receivables A/C $100,000
Add: Credit sales $20,000
Ending balance in accounts receivables A/C $120,000
Cheese Mart LLC sells cheese to Pizza Palace for $1,500. Pizza Palace uses the cheese to make pizzas, selling them to consumers for a total of $9,000. These transactions contribute ________ to the gross domestic product (GDP).
Answer: $9000
Explanation:
The gross domestic product (GDP) is the final value of the goods that are produced in an economy. In this case, we are only interested in the final value which is the $9000.
It should be noted that when Cheese Mart LLC sells cheese to Pizza Palace for $1,500, this is an intermediate good and should not be counted when calculating the GDP.
Paul’s Pizza Parlor bakes pizza pies according to Q = 3 L – 0.3 L 2. If labor costs $6 and pizza sells for $10, the optimal amount of labor is:
Answer: 4 units of labor
Explanation:
Optimum amount of labor occurs where marginal revenue equals marginal cost which means:
Marginal revenue product = Cost of labor
Marginal revenue product = Marginal product of labor * Prize of pizza
Marginal product of labor = differentiation of Q
= dQ/dL
= d(3L - 0.3L²)
= 3 - 0.6L
Marginal revenue product = (3 - 0.6L) * 10
= 30 - 6L
Marginal revenue product = Cost of labor
30 - 6L = 6
30 - 6 = 6L
L = 24/6
= 4 units of labor
MC Qu. 99 The Work in Process Inventory account... The Work in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $5,220 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $2,200 and direct labor cost of $1,000. Therefore, the company's overhead application rate is:
Answer:
202%
Explanation:
Calculation to determine what the company's overhead application rate is
First step is to calculate the Total manufacturing overhead using this formula
Total manufacturing overhead = Overhead rate - Direct material cost - Direct labor cost
Let plug in the formula
Total manufacturing overhead =5220 - 2,200 - 1000
Total manufacturing overhead =2020
Now let determine the overhead application rate using this formula
Overhead application rate=Total manufacturing overhead/Direct labor cost
Let plug in the formula
Overhead application rate=2020/1000*100
Overhead application rate=202%
Therefore, the company's overhead application rate is:202%
A minimum acceptable rate of return for an investment decision is called the: Multiple Choice Internal rate of return. Average rate of return. Hurdle rate of return. Maximum rate of return. Payback rate of return.
Answer:
Hurdle rate of return.
Explanation:
A hurdle rate can be regarded as minimum rate of return that is been required by an investor or manager
on a particular project or investment.
The hurdle rate gives the description of the appropriate compensation as regards level of risk present. There are
higher hurdle rates associated with riskier projects.
It should be noted that A minimum acceptable rate of return for an investment decision is called the Hurdle rate of return.
Hailey Corporation pays a constant $9.45 dividend on its stock. The company will maintain this dividend for the next 13 years and will then cease paying dividends forever. If the required return on this stock is 10.7 percent, what is the current share price?
Answer:
$64.76
Explanation:
The current share price can be determined by calculating the present value of the dividend
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow from year 1 to 13 = 9.45
I = 10.7
PV = 64.76
To find the PV 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
