Answer:
Berclair Inc.
Basic earnings per share = $1.87
Diluted earnings per share = $1.70
Explanation:
a) Data and Calculations:
Common Stock Cumulative Preferred Stock
Dec. 31, 2012 Outstanding 380,000,000 4,000,000 shares
Dividend rate 9%
Stock par value $100
Total value of stock $400 million
Annual preferred dividend $36 million ($400 m * 9%)
March 1, 2021 Treasury stock (96,000,000)
July 1, 2021 Stock dividend 14,200,000 (284,000,000 * 5%)
October 1, 2021 Treasury stock 4,000,000
Outstanding shares 302,200,000 4,000,000 shares
Stock options 30,000,000
Total shares and options 332,200,000
Net income for the year = $600,000,000
Preferred stock dividend 36,000,000
Earnings for available for
common stockholders $564,000,000
Basic earnings per share = $1.87 ($564,000,000/302,200,000)
Diluted earnings per share = $1.70 ($564,000,000/332,200,000)
In the short run, open-market purchases a. increase investment and real GDP, and decrease interest rates. b. increase real GDP and interest rates, and decrease investment. c. increase investment and interest rates, and decrease real GDP. d. decrease investment, interest rates, and real GDP.
Answer: a. increase investment and real GDP, and decrease interest rates.
Explanation:
During an Open Market Purchase, the central bank of the country would be buying back securities from the public which means that it would be infusing money into the economic system.
With an increased amount of money in the economy, people will be able to save more which means that interests rate will drop because there are now more loanable funds. This drop in interest rates will encourage more companies and people to borrow cash for investment which will then lead to a higher GDP.
In the short run, in the open-market purchase, there has been an increase in investment and real GDP and decreased interest rates. Thus option A is correct.
The interest rate has been the amount of interest lent onto the principal sum. The GDP has been the gross domestic product that has been the market value of the final products.
In the open-market purchase, there has been an increase in the amount of money in the market. The government has been buying the securities and results in the market flow of money. The market flow will eventually result in an increase in the GDP with the decreased interest rates.
Thus in the short run, in the open-market purchase, there has been an increase in investment and real GDP and decreased interest rates. Thus option A is correct.
For more information about the open market purchase, refer to the link:
https://brainly.com/question/3437168
Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 46,000 units per month is as follows:
Per Unit Direct materials $45.60
Direct labor $8.70
Variable manufacturing overhead $1.70
Fixed manufacturing overhead $18.50
Variable selling & administrative expense $3.00
Fixed selling & administrative expense $14.00
The normal selling price of the product is $98.10 per unit.
An order has been received from an overseas customer for 2,600 units to be delivered this month at a special discounted price. This order would not change the total amount of the company's fixed costs. The variable selling and administrative expense would be $1.80 less per unit on this order than on normal sales.
Direct labor is a variable cost in this company.
Suppose there is not enough idle capacity to produce all of the units for the overseas customer and accepting the special order would require cutting back on production of 1,000 units for regular customers. The minimum acceptable price per unit for the special order is closest to: __________
Answer:
Ash Corporation
The minimum acceptable price per unit for the special order is closest to:
= $94.93.
Explanation:
a) Data and Calculations:
Normal production capacity per month = 46,000 units
Per Unit
Direct materials $45.60
Direct labor $8.70
Variable manufacturing overhead $1.70
Fixed manufacturing overhead $18.50
Variable selling & administrative expense $3.00
Fixed selling & administrative expense $14.00
The normal selling price of the product = $98.10 per unit.
Special order = 2,600 units
Relevant costs:
Direct materials $45.60
Direct labor $8.70
Variable manufacturing overhead $1.70
Variable selling & administrative expense $1.20
Total relevant costs per unit $57.20
Total variable cost for the special order = $148,720 ($57.20 * 2,600)
Loss sales revenue (1,000 * $98.10) 98,100
Total cost for the special order = $246,820
Minimum acceptable price per unit = $94.93 ($246,820/2,600)
solve the equation
(2x-5x)(4y-6x)
[tex] \sf \: (2x - 5x)(4y - 6x)[/tex]
Use distributive property.
[tex] \sf \: 2x(4y - 6x) - 5x(4y - 6x) \\ \sf \: = 8xy - 12 {x}^{2} - 20xy + 30 {x}^{2} \\ \sf \: = 8xy - 20xy - 12 {x}^{2} + 30 {x}^{2} \\ = \boxed{ \bf \: - 12xy + 18x ^{2} }[/tex]
The solution for the equation is - 12xy + 18x².
You can further simplify the equation formed as - 6x (2y - 3x).
Hope it helps.
RainbowSalt2222
Answer:
18x²-12xy
Explanation:
(2x-5x)(4y-6x)
8xy-12x²-20xy+30x²
18x²-12xy
Midsouth Stitchery wants to improve their productivity. Their process yield is currently 91.56% based on 9816 yards of material. If they are going to improve their productivity to 92.10, how many yards of finished material will they have to produce from the same amount of material input
Answer:
9,040.54 yards
Explanation:
Input material amount I = 9,816 yards
Productivity P = 92.10%
Let Output Material amount be O
O = I * P
O = 9,816 yards * 0.9210
O = 9040.536
O = 9040.54 yards
So, the unit of yards they will have to produce from the same amount of material input is 9,040.54 yards
vai trò của đạo đức trong doanh nghiệp là gì
Explanation:
Đạo đức kinh doanh giúp doanh nghiệp duy trì mối quan hệ tốt hơn và hài hòa với xã hội, khách hàng, nhân viên và các ngành hữu quan. ... Đạo đức kinh doanh có một vai trò quan trọng trong việc nâng cao lợi nhuận và năng suất của doanh nghiệp và cải thiện thiện chí của doanh nghiệp trên thị trường.
đánh dấu tôi là não nhất làm ơn giúp tôi và cảm ơn
You have been asked by the president of your company to evaluate the proposed acquisition of a new special-purpose truck for $250,000. The truck falls into the MACRS three-year class, and it will be sold after three years for $50,000. Use of the truck will require an increase in NWC (spare parts inventory) of $5,000. The truck will have no effect on revenues, but it is expected to save the firm $80,000 per year in before-tax operating costs, mainly labor. The firm's marginal tax rate is 21 percent. What will the operating cash flow for this project be during year 3
Answer:
Please find the complete solution in the attachment file.
Explanation:
Please find the attachment table for the 3 years of cash flow:
From the list below, select the items that are classified as a materials activity. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
Raw materials used
Raw materials beginning inventory
Raw materials purchases
Work in process beginning inventory
Goods manufactured
Direct labor used
Factor overhead used
Answer and Explanation:
The classification is as follows:
Under Materials activity
Opening balance of Raw materials inventory
Purchase of the Raw materials purchases
Under Production activity:
OPening balance of Work-in process inventory
Raw material used
Direct labor used
Factory overhead used
Under Sales activity:
Goods manufactured
In this way it should be categorized
Hence, the same should be relevant
pllzzzzzzzzzzzzzzzzz
Answer:
liability risk
Explanation:
Answer:
liability risk is right opstion
Assume a firm generates $2,500 in sales, has a $800 increase in accounts receivable and has a $500 increase in accounts payable during an accounting period. Based solely on this information, cash flow from operations will increase by:
Answer:
Cash flow from operations will increase by $2,200.
Explanation:
The amount of increase in cash flow from operations can be calculated as follows:
Increase in cash flow from operations = Sales - Increase in accounts receivable + Increase in accounts payable …………… (1)
Sales = $2,500
Increase in accounts receivable = $800
Increase in accounts payable = $500
Substituting the values into equation (1), we have:
Increase in cash flow from operations = $2,500 - $800 + $500 = $2,200
Therefore, cash flow from operations will increase by $2,200.
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.
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
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:
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
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
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.
A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product are:
Answer:
1. The correct option is C. 54.
2. The correct option is E. 60.
3. The correct option is A. 3.
4. The correct option is E. 90%.
5. The correct option is E. y.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product:
Task Time (sec) Immediate Predecessor
u 30 none
v 30 u
w 6 u
x 12 w
y 54 x
z 30 v, y
1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?
A. 162
B. 72
C. 54
D. 12
E. 60
2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?
A. 162
B. 72
C. 54
D. 12
E. 60
3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?
A. 3
B. 4
C. 5
D. 6
E. 7
4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?
A. 100%
B. 92.5%
C. 75%
D. 87.5%
E. 90%
5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?
A. u
B. v
C. w
D. x
E. y
The explanation of the answers is now provided as follows:
1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?
The minimum cycle time is equal to the maximum task time. From the data in the question, it can be seen that the maximum task time is 54. Therefore, the correct option is C. 54. That is, the minimum possible cycle time (in seconds) for this situation is 54.
2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?
Desired cycle time (in seconds) = Demand rate / Number of hours per days = 480 / 8 = 60
Therefore, the correct option is E. 60.
3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?
Total task time = 30 + 30 + 6 + 12 + 54 + 30 = 162
Minimum possible cycle time = 54
Therefore, we have:
Minimum number of workstations needed = Total task time / Minimum possible cycle time = 162 / 54 = 3
Therefore, the correct option is A. 3.
4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?
Line efficiency = Total task time / (Minimum number of workstations needed * Desired cycle time) = 162 / (3 * 60) = 162 / 180 = 0.90, or 90%
Therefore, the correct option is E. 90%.
5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?
The last task should be the one has the longest task time. From the data table in the question, it can be observed that y is the task that has the longest task time. This implies y is the task to perform last.
Therefore, the correct option is E. y.
Samir is a self-employed marketing consultant. He had no income from January through March 2020. His April through December 2020 income subject to SE tax is $55,000.
Samir's SE tax for 2020 is $7,771 [$55,000 x 0.9235 x 0.153 = $7,771]. Samir may reduce his estimated tax payments by how much? Hint: USE Form Schedule SE to help you find the answer.
Answer:
$3,886
Explanation:
Since SELF EMPLOYMENT TAX is 15.3% of your wages which is why the Internal Revenue Service (IRS) make it possible for you to deduct your employer equal portion of your self employment taxes that the employer pays during the year which is 7.65% Calculated as (15.3%/2) which therefore means that Samir may reduce his ESTIMATED TAX PAYMENTS by $3,886 [$55,000 x 0.9235 x 0.0765 = $3,886] while the remaining 7.65%( 15.3% -7.65%) are not deductible because they correspond to employee taxes.
Therefore he may reduce his ESTIMATED TAX PAYMENTS by $3,886.
A company purchases and uses 40000 gallons of materials for which they paid $3 a gallon. The materials price variance was $90000 favorable. What is the standard price per gallon?
Answer:
the standard price per gallon is $5.25
Explanation:
the computation of the standard price per gallon is given below;
Materials Price Variance = Actual Quantity × (Standard Price - Actual Price)
$90,000 = 40,000 × (Standard Price - $3)
$2.25 = Standard Price - $3
Standard Price = $5.25
Hence, the standard price per gallon is $5.25
The same should be considered
Henry, a new human resources coordinator, has been asked to calculate the past month's turnover rate. He has divided the number of people who have left the company during that month (11) by the number of employees hired
(10), and then multiplied that by 100. But the number he
has come up with, 110 percent, is way too high and
doesn't make any sense. What should have Henry done
to avoid his error?
He should have multiplied the cost to
terminate by the cost per hire.
He should have multiplied by 10, not 100.
He should have divided the number of
employees hired by the cost to hire them.
He should have divided the number of people
who have left the company by the average
number of employees that month.
Answer:
he should have multiplied by 10, not 100
Explanation:
An educational software company wants to compare the effectiveness of teaching about supply and demand curves between computer animation presentations and textbook presentation. The company tests the economic knowledge of a number of first-year college students, then randomly divides them into two groups. One group uses the animation and the other studies the text. The company retests all the students and compares the increase in economic understanding between the two groups. Is the study described above an experiment? Why or why not?
Answer:
Yes, this is often an experiment. the corporate assigned students to either the animation or the text, instead of watching post hoc ergo propter hoc data.
Explanation:
The explanatory variables are the pre-test data and therefore the assignment to a given group. The responding variable is that the post-test data.
Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Boston Railroad is a measure of railroad operating activity, termed "gross-ton miles," which is the total number of tons multiplied by the miles moved. Transportation Costs Gross-Ton Miles January $1,454,100 323,000 February 1,621,300 361,000 March 1,145,800 234,000 April 1,554,400 350,000 May 1,303,700 281,000 June 1,671,400 380,000 Determine the variable cost per gross-ton mile and the fixed cost. Variable cost (Round to two decimal places.) $fill in the blank 1 per gross-ton mile Total fixed cost $fill in the blank 2
Answer:
Results are below.
Explanation:
Giving the following information:
Transportation Costs Gross-Ton Miles
January $1,454,100 323,000
February 1,621,300 361,000
March 1,145,800 234,000
April 1,554,400 350,000
May 1,303,700 281,000
June 1,671,400 380,000
To calculate the variable and fixed cost under the high-low method, we need to use the following formulas:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (1,671,400 - 1,145,800) / (380,000 - 234,000)
Variable cost per unit= $3.6
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 1,671,400 - (3.6*380,000)
Fixed costs= $303,400
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 1,145,800 - (3.6*234,000)
Fixed costs= $303,400
Milltown Company specializes in selling used cars. During the month, the dealership sold 32 cars at an average price of $16,000 each. The budget for the month was to sell 30 cars at an average price of $17,000. Compute the dealership's sales price variance for the month.
Answer:
-$32,000
Explanation:
The sales price variance is a measure used determine the difference between an entity's expected price of a product or service and its actual sales price. It may be favorable or unfavourable to the company and may be calculated as
Sales price variance = Actual quantity sold * (actual selling price - budgeted selling price)
Hence given that the dealership sold 32 cars at an average price of $16,000 each while the budget was to sell 30 cars at an average price of $17,000,
Sales price variance = 32 ($16,000 - $17,000)
= -$32,000
The minus indicates unfavourable sales price variance
You own a portfolio equally invested in a risk-free asset and two stocks (If one of the stocks has a beta of 1 and the total portfolio is equally as risky as the market, what must the beta be for the other stock in your portfolio
Answer:
2
Explanation:
Beta measures systemic risk
The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors
The market has a beta of one. If a portfolio has the same level of systematic risk that is the same as that of the market, its beta would be equal to 1.
If the portfolio is less risky than the market, its beta would be less than one
If the portfolio is more risky than the market, its beta would be greater than one
The beta of a risk free asset is zero
The portfolio's beta can be determined by adding together the weighted beta of each stock in the portfolio
1 = (1/3 x 1) + (1/3 x 0) + (1/3 x s)
1 = 1/3 + (1/3 x s)
1 - 1/3 = 1/3s
2/3 = 1/3s
s = 2/3 x 3 = 2
Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Schell has a total of $25,740 in overhead. It currently uses a traditional cost system with overhead applied to the product on the basis of either labor hours or machine hours. Schell has compiled the following information about possible cost drivers and its two product lines:
Schell Company Total Quantity/Amount Consumed by Standard Floor Mat Line Quantity/Amount Consumed by Deluxe Floor Mat Line
1,170 labor hours 740 labor hours 430 labor hours
7,000 machine hours 2,900 machine hours 4,100 machine hours
Required:
a. Suppose Schell uses a traditional costing system with direct labor hours as the cost driver. Determine the amount of overhead assigned to each product line.
b. Suppose Schell uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line.
Answer:
Schell Company
Overhead assigned: Standard Deluxe
a. Based on Labor hours $16,280 $9,460
b. Based on Machine hours $10,663 $15,076
Explanation:
a) Data and Calculations:
Total overhead = $25,740
Total Standard Deluxe Overhead Rate
Labor hours 1,170 740 430 $22 ($25,740/1,170)
Machine hours 7,000 2,900 4,100 $3.677 ($25,740/7,000)
Overhead assigned: Standard Deluxe
a. Based on Labor hours $16,280 $9,460
($22 * 740) ($22 * 430)
b. Based on Machine hours $10,663 $15,076
($3.677 * 2,900) ($3.677 * 4,100)
Country A and Country B have had an informal trading arrangement for many years wherein merchants on the border of the countries may freely trade goods without the restriction of fees. Which of the following is true?
a. The government of Country A may not arbitrarily begin to charge fees for items brought in from Country B.
b. Country A and Country B have a binding agreement to this arrangement under customary international law.
c. Country A and Country B have no binding agreement under customary international law.
d. More than one response is correct.
Answer:
d. More than one response is correct.
Explanation:
Even though international law does not follow common law, and informal agreements are not enforceable between countries, they tend to facilitate the relationship between them. For example, Canada and the US do not have a strict border patrol and no one is asking for a wall to be built on the Canadian border. It is accepted that US and Canadian citizens cross almost freely as tourists. If someone tried to enforce a strong border policy, the other government would oppose it and it would turn into a diplomatic mess and would probably not be enforceable at all.
define accounting ?
Answer:
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.
Answer:
the action or process of keeping financial accounts.
Explanation:
Discuss various factors that must be considered on the warehouse location decisions?
Answer:
burglar proofing
Explanation:
security
Hill Company uses the periodic inventory system. It records a transaction that increases the balances in its purchases and accounts payable accounts. Which of the following is true about Hill Company?
a. When the related merchandise is sold, the purchases account will be decreased by the related cost of goods sold.
b. The manner in which this transaction was recorded indicates that Hill returned $6,000 of merchandise to a supplier.
c. The balance in the account will appear on the balance sheet at year end.
d. The manner in which this transaction was recorded indicates that Hill purchased inventory on account.
Answer:
Hill Company
The true statement about Hill Company is:
d. The manner in which this transaction was recorded indicates that Hill purchased inventory on account.
Explanation:
Purchases made on account (or credit terms) are debited to the Purchases account (periodic inventory system) and credited to the Accounts Payable account. This increases the amount of purchases and the accounts payable account respectively by the same amount. If Hill Company uses the perpetual inventory system, the debit goes to the Inventory account and the corresponding credit to the Accounts Payable account.
Relevant Range and Fixed and Variable Costs
Vogel Inc. manufactures memory chips for electronic toys within a relevant range of 61,600 to 100,800 memory chips per year. Within this range, the following partially completed manufacturing cost schedule has been prepared:
Components produced 61,600 79,200 100,800
Total costs:
Total variable costs . . . . . . . . . $19,712 (d) (j)
Total fixed costs . . . . . . . . . . . . 22,176 (e) (k)
Total costs . . . . . . . . . . . . . . . . . $41,888 (f) (l)
Cost per unit:
Variable cost per unit . . . . . . . (a) (g) (m)
Fixed cost per unit . . . . . . . . . . (b) (h) (n)
Total cost per unit . . . . . . . . . . (c) (i) (o)
Complete the cost schedule below. When computing the cost per unit, round to two decimal places. Round all other values to the nearest dollar.
Cost Report
Components produced 61,600 79,200 100,800
Total costs:
Total variable costs $19,712 (d) $ (j) $
Total fixed costs 22,176 (e) (k)
Total costs $41,888 (f) $ (l) $
Cost per Unit
Variable cost per unit (a) $ (g) $ (m) $
Fixed cost per unit (b) (h) (n)
Total cost per unit (c) $ (i) $ (o) $
Answer:
Variable cost per unit is constant.
Total fixed cost is constant.
Explanation:
