Answer:
Erica Shotwell's Company
Erica's gross pay for working 45 hours during the last week is:
= $898.70
Explanation:
a) Data and Calculations:
Regular pay per hour = $18.92
Overtime pay per hour = $28.38 ($18.92 * 1.5)
Week Day Hours worked
Monday 8.3
Tuesday 8.8
Wednesday 7.9
Thursday 9.4
Friday 10.6
Total hours worked 45
Regular pay = 40 * $18.92 = $756.80
Overtime pay = 5 * $28.38 = 141.90
Erica's gross pay for the week = $898.70
Because this market is a monopolistically competitive market, the firm's average cost in long-run equilibrium is the long-run average cost it would achieve as a firm operating in a perfectly competitive market. The production level of a monopolistically competitive firm in long-run equilibrium is the production level of a perfectly competitive firm. This difference in output is predicted by the
Answer:
The correct answer is "Higher than, Lower than and Excess production theory".
Explanation:
Under Monopolistic Competition:
Average cost = 70
Production level = 50
Under perfect competition:
Average cost = 65
Production level = 70
Excess capacities are a circumstance where an economic performance would be less than the commodity that somehow a company might offer to that same marketplace.Throughout terms of long-lasting balances, the commodity demand of such a monopolistic competition corporation is lesser than that of a complete business entity.Question 2
• The number of electrical outages in a city varies from day to day. Assume that
the number of electrical outages («) in the city has the following probability
distribution
f)
0
0.8
0.15
2
3
0.01
و مرا به دو
A) The mean for the number of electrical outages is
B) The standard deviation for the number of electrical outages is
Answer:
The answer is below
Explanation:
Probability distribution are statistical function that shows all the possible outcomes of a random variable within a given range of values.
a) The mean ([tex]\bar x[/tex]) of a probability distribution of a discrete random variable is:
[tex]\bar x=\Sigma\ [xP(x)][/tex] = (0 * 0.8) + (1 * 0.15) + (2 * 0.04) + (3 * 0.01) = 0.26
b) The standard deviation (σ) of a probability distribution of a discrete random variable is:
[tex]\sigma=\sqrt{ \Sigma\ [(x-\bar x)^2*P(x)]}\\\\\sigma=\sqrt{(0-0.26)^2*0.8+(1-0.26)^2*0.15+(2-0.26)^2*0.04+(3-0.26)^2*0.01} \\\\\sigma=0.577[/tex]
Feedback is important in improving your performance, and we should solicit feedback, and not just wait until someone provides us with feedback. Group of answer choices
a. True
b. False
Answer:
The given statement is "True".
Explanation:
Feedback would be a significant aspect in improving the accomplishment or organization's success.Requesting or waiting for such feedback might contribute to less and less input, although the organization must request for input, this same person might communicate with the organization by requesting comments.Thus the above is the correct answer.
Explain the four basic costs curves
Answer:
The output is represented along OX and cost along OY; AFC curve represents average fixed cost. AVC curve represents average variable cost, ATC curve represents average total cost (i.e., total of AFC and AVC and is called AC, i.e., average cost). MC curve represents marginal cost
Explanation:
•|ᴥ jess ᴥ|•#keep learning
If the potential customers belong to the same segment, display comparable characteristics, and choose the same product qualities consistent with their segment, then which condition for the ideal market segment approach should be used
Answer: internally homogenous
Explanation:
Since the potential customers belong to the same segment, display comparable characteristics, and choose the same product qualities that are consistent with their segment, then the condition for the ideal market segment approach which should be used is the internally homogeneous.
On the other hand, if the potential customers are in different segments, have different characteristics, and choose different product qualities, then the externally homogeneous will be ideal.
internally homogenous
On August 1, a $43,200, 8%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest of $16,763.05. The entry to record the first payment on July 31 would include:________
A. Debit to Interest Expense of 3,192.00
B. Credit to cash 14,183.96
C. Credit to Notes payable of 17,375.96
D. Debit to Cash of 17,375.96
E. Debit to Notes payable of 17,375.96
Answer:
Par value of note payable = $43,200
Interest rate = 8%
Annual installment = $16,763.05
Interest expense for year 1 = Par value of note payable * Interest rate = $43,200*8% = $3,456
Principal repayment in first installment = Annual installment - Interest expense for year 1 = $16,763.05 - $3,456 = $13,307.05
General Journal Debit Credit
Notes payable $13,307.05
Interest expense $3,456
Cash $16,763.05
On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $85,050 in assets in exchange for its common stock to launch the business. On December 31, the company’s records show the following items and amounts. Cash $ 7,950 Cash dividends $ 3,070 Accounts receivable 17,450 Consulting revenue 17,450 Office supplies 4,200 Rent expense 4,530 Office equipment 19,060 Salaries expense 8,090 Land 46,010 Telephone expense 880 Accounts payable 9,430 Miscellaneous expenses 690 Common stock 85,050 Also assume the following: The owner’s initial investment consists of $39,040 cash and $46,010 in land in exchange for its common stock. The company’s $19,060 equipment purchase is paid in cash. Cash paid to employees is $2,860. The accounts payable balance of $9,430 consists of the $4,200 office supplies purchase and $5,230 in employee salaries yet to be paid. The company’s rent expense, telephone expense, and miscellaneous expenses are paid in cash. No cash has yet been collected on the $17,450 consulting revenue earned.
Using the above information prepare a December statement of cash flows for Ernst Consulting. (Cash outflows should be indicated by a minus sign.)
Answer:
$3,260
Explanation:
Preparation of December statement of cash flows for Ernst Consulting
ERNST CONSULTING Income Statement
For Month Ended October 31
REVENUES
Consulting fees earned $17,450
Total revenues $17,450
EXPENSES
Rent expense $4,530
Salaries expense $8,090
Telephone expense $880
Miscellaneous expenses $690
Total expenses $14,190
Net income $3,260
($17,450-$14,190)
Therefore December statement of cash flows for Ernst Consulting will be $3,260
Interest rate (with changing years). Keiko is looking at the following investment choices and wants to know what annual rate of return each choice produces. a. Invest $360.00 and receive $788.17 in 11 years. b. Invest $3 comma 000.00 and receive $11 comma 499.87 in 17 years. c. Invest $31 comma 542.31 and receive $140 comma 000.00 in 22 years. d. Invest $32 comma 895.12 and receive $1 comma 100 comma 000.00 in 40 years.
Answer:
7.38%
8.23%
7.01%
9.17%
Explanation:
Rate of return = (future value / amount invested)^(1/n) - 1
n = number of years
a. (788.17 / 360)^(1/11) - 1 = 7.38%
b. (11.499.87 / 3000) ^(1/17) - 1 = 8.23
c. (140,000 / 31,542.31)^(1/22) - 1 = 7.01
d. (1,100,000 / 32895.12)^(1/40) - 1 = 9.17
In an economy open to international trade ________.
A) saving equals investment in equilibrium
B) saving is the difference between net exports and investment
C) saving equals investment as long as the economy has no exports
D) saving equals investment as long as NX
Answer: D) saving equals investment as long as NX = 0
Explanation:
The last option was incomplete as it should have said ...NX = 0.
The Income/GDP of a country that is open to international trade is calculated as follows:
Income = Consumption + Investment + Government spending + Net exports
Y = C + I + G + NX
If NX = 0 then the formula becomes:
Y = C + I + G
Investment in this scenario is therefore:
I = Y - C - G
This is the same as savings as savings is calculated by subtracting consumption and government spending from the total income. This is because government spending is derived from taxes so the cash that people get to save is their income less than their taxes and consumption expenses.
S = Y - C - G = Y
Auctio sells sprockets in a perfectly competitive market. Below are its short-run total variable costs at different output levels. The firm's fixed cost is $5. The market price of one sprocket is $8. Units Total Variable Cost 0 $0 1 $12 2 $18 3 $22 4 $28 5 $35 6 $43 What is the average total cost of the 5th unit
Answer:
$36
Explanation:
Average total cost = total variable cost + fixed cost ) / output
total variable cost = variable cost x output
35 x 5 = 175
175 + 5) / 5 = 36
On January 1, Eastern College received $1,280,000 from its students for the spring semester that it recorded in Unearned Tuition and Fees. The term spans four months beginning on January 2 and the college spreads the revenue evenly over the months of the term. What amount of tuition revenue should the college recognize on February 28? Assume the college prepares monthly financial statements.a. $640,000.b. $1,280,000.c. $880,000.d. $960,000.e. $320,000.
Answer:
e. $320,000
Explanation:
Calculation to determine amount of tuition revenue should the college recognize on February 28
Using this formula
Tuition revenue =Amount received/Term spans
Let plug in the formula
Tuition revenue=$1,280,000 /4 months
Tuition revenue=$320,000
Therefore amount of tuition revenue should the college recognize on February 28 is $320,000
Crystal Corporation makes $3,100 payments every month for leasing office equipment. Crystal recorded a lease payment as follows: Lease payable 1,860 Interest expense 1,240 Cash 3,100 Amortization expense 1,860 Right-of-use asset 1,860 Crystal must have a(n):
Answer: Operating lease
Explanation:
An operating lease operates much like a rental type instrument. The asset being leased will not have its ownership rights transferred to the person leasing it and the person leasing it will be paying a certain amount every designated period that is equal to the Right of Use amount.
This is the case here as Crystal Corporation pays a certain amount every month for the leased equipment and this amount is the same as the Right-of-use asset amount. This is therefore an operating lease.
Suppose the government imposes a tax on three products with differing demand elasticities. Match the product to the group that will most likely bear the incidence of the tax.
a. the government
b. producers
c. consumers and producers
d. consumers
1. highly inelastic
2. somewhat elastic
3. highly elastic
Answer:
a. Government - highly Inelastic
b. producers - Somewhat elastic
c. consumers and producers - Highly elastic
d. consumers - Highly elastic
Explanation:
Inelastic demand is that which does not changes with the change in the price of any product.
Government oriented demand remains constant irrespective of pricing and hence it is highly inelastic while in case of producers and consumers, the demand may vary depending on the substitute availability in the market
Answer: producer - highly elastic
Consumers and producers - somewhat elastic
Consumers - highly inelastic
government- none
Explanation:
True of false management is the execution of a number of integrated and related tasks for the achievement educative goals
Answer:
True
Explanation:
Management could be defined or explained in a number of ways as it is a word which incorporates the the ability to plan, corrdonate, supervise projects, handle the affairs and workings of an organization in other to ovation a desirable outcome. It could also be explained as the ability to undertake or oversee a number of task, activities or related or integrated projects in other to achieve the desired or planned outcome. The ability to manage is gauged or measured by the success achieved at the end or the impact made by the resulting project, the accomplishment of the organization or the growth of the establishment during the managerial period or tenure.
The New Fund had average daily assets of $2.2 billion in the past year. New Fund's expense ratio was 1.1% and the management fee was .7%.a. What were the total fees paid to the fund's investment managers during the year?b. What were the other administrative expenses?
Answer: A. $15.4 Million
B. $8.8 million
Explanation:
a. What were the total fees paid to the fund's investment managers during the year?
This will be:
= Average daily assets × Management fee
= $2.2 billion × 0.7%
= $15.4 million
b. What were the other administrative expenses?
The total expense that's incurred for managing the fund will be:
= $2.2 billion × 1.1%
= $24.2 million
Therefore, the other administrative expenses will be:
= $24.2 million - $15.4 million
= $8.8 million
The following information was taken from the income statement and balance sheet of The Perryman Company for the years 2018 and 2019: 2019 2018 Sales revenues $590,000 $574,000 Net income 212,000 184,000 Total assets 2,142,000 1,998,000 Total stockholders’ equity 712,000 690,000 Compute the following ratios for 2019:
Answer:
a. Net profit margin for 2019 = 35.93%
b. Asset turnover for 2019 = 0.29 times
c. Return on assets = 10.24%
Explanation:
Note: This question is not complete. The complete question is thereore provided before answering the question as follows:
The following information was taken from the income statement and balance sheet of The Perryman Company for the years 2018 and 2019:
2019 2018
Sales revenues $590,000 $574,000
Net income 212,000 184,000
Total assets 2,142,000 1,998,000
Total stockholders’ equity 712,000 690,000
Compute the following ratios for 2019:
Net profit margin
Asset turnover
Return on assets
The answers are now explained as follows:
a. Net profit margin for 2019
This can be calculated as follows:
Net profit margin for 2019 = Net income in 2019 / Sales revenues in 2019 = $212,000 / $590,000 = 0.3593, or 35.93%
b. Asset turnover for 2019
This can be calculated as follows:
Asset turnover for 2019 = Sales revenues / Average total assets = Sales revenues in 2019 / ((Total assets in 2019 + Total assets in 2018) / 2) = $590,000 / (($2,142,000 + $1,998,000) / 2) = 0.29 times
c. Return on assets for 2019
This can be calculated as follows:
Return on assets = Net income / Average total assets = Net income in 2019 / ((Total assets in 2019 + Total assets in 2018) / 2) = $212,000 / (($2,142,000 + $1,998,000) / 2) = 0.1024, or 10.24%
As a manager, you are trying to decide how to best layoff 10% of your workforce. You are considering laying off the 10% who are the oldest in age, because you feel that they are closest to retirement anyway. Which of the following types of justice would you most likely violate the rules of by doing this?
A. Distributive
B. Procedural
C. Interpersonal
D. Informational
Answer:
B. Procedural
Explanation:
Remember, the procedural type of justice focuses on identifying the best way to treat others in a fair way, such as following the adhering to the rule of no bias when administering justice.
In this scenario, if the manager decides to select and lay off 10% of his workforce based on their age range, he would be unintentionally displaying an age bias in his selection process, which of course most likely violates the rules of this type of justice.
Chuck Wagon Grills, Inc., makes a single product—a handmade specialty barbecue grill that it sells for $300. Data for last year’s operations follow: Units in beginning inventory 0 Units produced 9,500 Units sold 8,400 Units in ending inventory 1,100 Variable costs per unit: Direct materials $ 60 Direct labor 40 Variable manufacturing overhead 10 Variable selling and administrative 30 Total variable cost per unit $ 140 Fixed costs: Fixed manufacturing overhead $ 180,000 Fixed selling and administrative 780,000 Total fixed costs $ 960,000 Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one barbecue grill. 2. Assume that the company uses variable costing. Prepare a contribution format income statement for last year. 3. What is the company’s break-even point in terms of the number of barbecue grills sold?
Answer:
Results are below.
Explanation:
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Unitary production variable cost= 60 + 40 + 10
Unitary production variable cost= $110
Now, the income statement:
Sales= 300*8,400= 2,520,000
Total variable cost= 8,400*(110 + 30)= (1,176,000)
Total contribution margin= 1,344,000
Fixed manufacturing overhead= (180,000)
Fixed selling and administrative= (780,000)
Net operating income= $384,000
Finally, the break-even point in units:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 960,000 / (300 - 140)
Break-even point in units= 6,000
Reasons why South African post office taking private courier companies to court
Answer:
Explanation:
As the only operator of this kind in South Africa, the Post Office has the exclusive right to provide delivery services for all letters, postcards, printed matter, small parcels, and other postal articles up to and including 1kg.
PostNet was initially ordered to stop delivering all packages weighing 1kg and less by 17 March 2020. However, it secured an interdict which allowed it to continue to deliver these packages until the full challenge was heard in the Gauteng High Court.
The Post Office, Postnet and the South African Express Parcel Association (SAEPA) are now set to head to court in a move that could have ramifications for the entire courier industry in South Africa.
Icasa spokesperson Paseka Maleka told BusinessDay that the regulator would give its support to the Post Office as it was following the letter of the law, which allowed private couriers to only deliver food items in the 1kg or less category.
“Icasa’s mandate is to implement what the law requires, and we are doing exactly that,” he said.
“There are exemptions that deal with businesses that do not fall under postal services. Uber Eats, Mr Delivery, etc are such businesses. Obviously, one cannot expect Sapo to be delivering pizza to a consumer,” he said.
Câu 1 Bản chất của quản trị chiến lược là phác thảo hình ảnh tương lai của doanh nghiệp trong lĩnh vực hoạt động trên cơ sở khai thác các:
a Nguồn lực
b Năng lực cạnh tranh
c Thế mạnh
d Lợi thế cạnh tranh
Select an organization and identify and evaluate the components of its Strategic Plan (i.e., Vision, Mission, Values, Core Competencies, Goals, Objectives, Action/Implementation Plan, Metrics, etc.) by answering the following questions:
• Does the plan convey an overall purpose and the desired results of the organization, and how to achieve those results?
• Does the Mission Statement clearly explain why the organization exists?• Does the Vision Statement describe where the organization is headed, what it intends to be, or how it wishes to be perceived in the future? Clear, concise, and memorable?• Based on the content of the plan, do you think the plan has adequately considered the strategic environment?
• Do the goals and objectives support the vision, mission, values, core competencies, etc.?
• Is the plan understandable?
• What are your other observations and reactions to the plan? What do you like? What could be improved?
Answer:
Nestle with a tag line of "Good Food, Good Life" its vision is to enhance quality of life and contribution to a healthier future for all individuals, this vision conveys the plan and results clearly. Nestle is achieving the results by providing good quality food to its consumers.
Explanation:
Nestle with a tag line of "Good Food, Good Life" its vision is to enhance quality of life and contribution to a healthier future for all individuals, this vision conveys the plan and results clearly. Nestle is achieving the results by providing good quality food to its consumers.
Mission statement clearly explains that Nestle exist to provide healthier living for individuals. The vision describes the present and future of the betterment of the health of individuals, the vision is clear concise and memorable.
Environment is going towards better health standards people want a healthier and better quality of life which is connected to Nestle's vision and mission.
The goals of Nestle is set in line with the original mission and vision of the organization .
Nestle is helping with fighting hunger, in the situation of global pandemic Nestle fed more than 8 million people. I think this was a great initiative and this can be further more expanded by regularly feeding those in need and not just during the pandemic.
During the month of March, Harley's Computer Services made purchases on account totaling $43,500. Also during the month of March, Harley was paid $8,000 by a customer for services to be provided in the future and paid $36,900 of cash on its accounts payable balance. If the balance in the accounts payable account at the beginning of March was $77,300, what is the balance in accounts payable at the end of March?
a. $6,600
b. $75,900
c. $83,900
d. $91,900
Answer:
c. $83,900
Explanation:
The computation of the balance in accounts payable at the end of March is given below;
Opening Balance $77,300
Add: Purchases made $43,500
Less: Cash Paid $(36,900)
Closing Balance $83,900
hence, the balance in accounts payable at the end of March is $83,900
Therefore the option c is correct
Feliciano Manufacturing Corporation has a traditional costing system in which it applies manufacturing overhead to its products using a predetermined overhead rate based on direct labor-hours (DLHs). The company has two products, I63E and E76I, about which it has provided the following data: I63E E76I Direct materials per unit $ 21.70 $ 65.10 Direct labor per unit $ 19.50 $ 58.50 Direct labor-hours per unit 0.80 2.40 Annual production (units) 90,000 30,000
The company's estimated total manufacturing overhead for the year is $2,063,250 and the company's estimated total direct labor-hours for the year is 45,000.
The company is considering using a form of activity-based costing to determine its unit product costs for external reports. Data for this proposed activity-based costing system appear below:
Activities and Activity Measures Estimated
Overhead Cost
Assembling products (DLHs) $ 720,000
Preparing batches (batches) 263,250
Product support (product variations) 1,080,000
Total $ 2,063,250
Expected Activity
I63E E76I Total
DLHs 24,000 21,000 45,000
Batches 1,080 675 1,755
Product variations 2,115 1,485 3,600
The manufacturing overhead that would be applied to a unit of product E76I under the activity-based costing system is closest to:________.
Answer:
Unitary cost= $30.91
Explanation:
First, we need to calculate the activities rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Assembling products= 720,000/45,000= $16 per DLH
Preparing batches= 263,250/1,755= $150 per batch
Product support= 1,080,000/3,600= $330 per product variation
Now, we allocate costs to Product E76l:
Assembling products= 16*21,000= $336,000
Preparing batches= 150*675= $101,250
Product support= 330*1,485= $490,050
Total= $927,300
Finally, the unitary cost:
Unitary cost= 927,300 / 30,000
Unitary cost= $30.91
You wrote a piece of software that does a better job of allowing computers to network than any other program designed for this purpose. A large networking company wants to incorporate your software into its systems and is offering to pay you $458,000 today, plus $458,000 at the end of each of the following six years, for permission to do this. If the appropriate interest rate is 8 percent, what is the present value of the cash flow stream that the company is offering you?
Answer:
$2,575,278.87
Explanation:
Present Value = $458,000 + $458,000 /(1+.08)^1 + $458,000 /(1+.08)^2 + $458,000 /(1+.08)^3 + $458,000 /(1+.08)^4 + $458,000 /(1+.08)^5 + $458,000 /(1+.08)^6
Present Value = $458,000 + $424,074.07 + $392,661.18 + $363,575.16 + $336,643.67 + $311,707.10 + $288617.69
Present Value = $2,575,278.87
So, the present value of the cash flow stream that the company is offering to me is $2,575,278.87.
Which of the following statement completions is NOT CORRECT? For a profitable firm, when MACRS accelerated depreciation is compared to straight-line depreciation, MACRS accelerated allowances produce a. Lower tax payments in the earlier years of an asset's life. b. Larger total undiscounted profits from the project over the project's life. c. Higher depreciation charges in the early years of an asset's life. d. Smaller accounting profits in the early years, assuming the company uses the same depreciation method for tax and book purposes. e. Larger cash flows in the earlier years of an asset's life.
Answer:
The NOT CORRECT statement is:
b. Larger total undiscounted profits from the project over the project's life.
Explanation:
The MACRS (Modified Accelerated Cost Recovery System) apportions larger depreciation expense in the earlier years of the asset's life, as it attempts to depreciate higher cost in those earlier years than the later years. This implies that the accounting profits in the early years can only be smaller and the undiscounted profits cannot be larger over the project's life.
McCann Co. has identified an investment project with the following cash flows.
Year Cash Flow
1 $840
2 1,170
3 1,430
4 1,575
a. If the discount rate is 9 percent, what is the present value of these cash flows?
b. What is the present value at 16 percent?
c. What is the present value at 25 percent?
Answer:
McCann Co.
Present value
a. At 9$ = $2,017.38
b. At 16% = $3,379.42
c. At 25% = $2,798.71
Explanation:
a) Data and Calculations:
Year Cash Flow Discount Present
Factor at 9% Value
1 $840 0.917 $770.28
2 1,170 0.842 143.14
3 1,430 0.772 1,103.96
4 1,575 0.708 1,115.10
Total Present value = $2,017.38
Year Cash Flow Discount Present
Factor at 16% Value
1 $840 0.862 $724.08
2 1,170 0.743 869.31
3 1,430 0.641 916.63
4 1,575 0.552 869.40
Total Present value = $3,379.42
Year Cash Flow Discount Present
Factor at 25% Value
1 $840 0.800 $672.00
2 1,170 0.640 748.80
3 1,430 0.512 732.16
4 1,575 0.410 645.75
Total Present value = $2,798.71
Leonard is creating disaster recovery documents for his company's online operations. He is documenting metrics for a measurable SLA that outlines when you can expect operations to be back online and how much data loss can be tolerated when recovering from an outage. Which metrics is he documenting
Answer:
RTO, RPO
Explanation:
Recovery point objective (RPO)
This simply measures the amount of data that may be lost in real sense due to system failure. It covers the volumes of files that must be gotten back from backup storage so as the normal operations can start agai (data loss)
RTO (recovery time objective)
This is simply regarded as the amount or the timelind by which a business process must be put in place or restored after a disaster occurs.(downtime). It is the time limit at most that is taken to put in place or restore an organization's information system following a disaster occurrence, In layman term is how much time do we have to get everything up and working again.
The four disaster recovery strategies includes
1. Backup and Restore
2. Pilot light
3. Warm standby
4. Hot site/multi-site approach.
Define Market failure
Answer:
MARKET FAILURE is defined as the economic situation in which there is inefficient distribution of goods and services.
hope it helps
have a nice day
Answer:
Market failure is the economic situation defined by an inefficient distribution of goods and services in the free market.
Explanation:
•| jess bregoli |•#keep learning!!
Black Diamond Company produces snow skis . Each ski requires 2 pounds of carbon fiber . The company's management predicts that 6,000 skis and 7,000 pounds of carbon fiber will be in inventory on June 30 of the current year and that 160.000 will be sold during the next ( third ) quarter . A set of two skis sells for $ 400 . Management wants to end the third quarter with 4,500 skis and 5,000 pounds of carbon fiber in inventory . Carbon fiber can be purchased for $ 25 per pound Each ski requires 0.5 hours of direct labor at $ 30 per hour . Variable overhead is applied at the rate of $ 18 per direct labor hour . The company budgets fixed overhead of $ 1,792,000 for the quarter . Required : 1. Prepare the third - quarter production budget for skis .
Answer:
158,500
Explanation:
Preparation of the third - quarter production budget for skis .
BLACK DIAMOND COMPANY Production Budget (in units)Third Quarter
Budgeted ending inventory (skis) 4,500
Add budgeted sale 160,000
Required units of available production 164,500
(4500+160,000)
Deduct beginning inventory (skis) (6,000)
Units to be manufactured 158,500
(164,500-6,000)
Therefore the third - quarter production budget for skis is 158,500
One of Hawk Company's customers returned products that cost Hawk $500, which was sold on account for $800. Which of the following correctly describes the affect of the return on the financial statements? Group of answer choices Gross profit decreases $800. Total current assets decrease $300. Sales returns and allowances increase $300. Net sales increase $300.
Answer:
Total current assets decrease $300
Explanation:
Based on the information given what correctly describes the effect of the return on the financial statements will be: TOTAL CURRENT ASSETS DECREASE $300 which is calculated as ($800-$500) reason been that INVENTORY INCREASES with the amount of $500 while ACCOUNTS RECEIVABLE on the other had DECREASES with the amount of $800 leading to DECREASE IN TOTAL ASSETS of the amount of $300.
