Answer:
$7,500 was invested in the account that gained 15%, while $14,500 was invested in the account that lost 7%.
Explanation:
Given that Fatuma invests a total of $ 22,000 in two accounts, and the first account earned a rate of return of 15% after a year while the second account suffered a 7% loss in the same time period, and at the end of one year the total amount of money gained was $ 110.00, to determine how much was invested into each account, the following calculation must be performed:
11,000 x 0.15 - 11,000 x 0.07 = 880
5,000 x 0.15 - 17,000 x 0.07 = -440
8,000 x 0.15 - 14,000 x 0.07 = 220
7,000 x 0.15 - 15,000 x 0.07 = 0
7,500 x 0.15 - 14,500 x 0.07 = 110
Therefore, $ 7,500 was invested in the account that gained 15%, while $ 14,500 was invested in the account that lost 7%.
Indicate the missing amount for each letter (a) through (i). Case A Case B Case C Direct materials used $ (a) $72,720 $131,700 Direct labor 59,280 90,560 (g) Manufacturing overhead 49,120 82,680 105,500 Total manufacturing costs 199,600 (d) 255,700 Work in process 1/1/20 (b) 17,110 (h) Total cost of work in process 226,310 (e) 339,900 Work in process 12/31/20 (c) 13,240 71,550 Cost of goods manufactured 188,400 (f)
Answer:
Case A Case B Case C
Direct materials used $ 91,200 $72,720 $131,700
Direct labor 59,280 90,560 18,500
Manufacturing overhead 49,120 82,680 105,500
Total manufacturing costs 199,600 245,960 255,700
Work in process 1/1/20 26,710 17,110 84,200
Total cost of work in process 226,310 263,070 339,900
Work in process 12/31/20 37,910 13,240 71,550
Cost of goods manufactured 188,400 249,830 268,350
Explanation:
Given:
Case A Case B Case C
Direct materials used $ (a) $72,720 $131,700
Direct labor 59,280 90,560 (g)
Manufacturing overhead 49,120 82,680 105,500
Total manufacturing costs 199,600 (d) 255,700
Work in process 1/1/20 (b) 17,110 (h)
Total cost of work in process 226,310 (e) 339,900
Work in process 12/31/20 (c) 13,240 71,550
Cost of goods manufactured 188,400 (f) (i)
Therefore, we have:
Case A
a. Direct materials used = Total manufacturing costs - Direct labor - Manufacturing overhead = 199,600 - 59,280 - 49,120 = 91,200
b. Work in process 1/1/20 = Total cost of work in process - Total manufacturing costs = 226,310 - 199,600 = 26,710
c. Work in process 12/31/20 = Total cost of work in process - Cost of goods manufactured = 226,310 - 188,400 = 37,910
Case B
d. Total manufacturing costs = Direct materials used + Direct labor + Manufacturing overhead = 72,720 + 90,560 + 82,680 = 245,960
e. Total cost of work in process = Total manufacturing costs + Work in process 1/1/20 = 245,960 + 17,110 = 263,070
f. Cost of goods manufactured = Total cost of work in process - Work in process 12/31/20 = 263,070 - 13,240 = 249,830
Case C
g. Direct labor = Total manufacturing costs - Direct materials used - Manufacturing overhead = 255,700 - 131,700 - 105,500 = 18,500
h. Work in process 1/1/20 = Total cost of work in process - Total manufacturing costs = 339,900 - 255,700 = 84,200
i. Cost of goods manufactured = Total cost of work in process - Work in process 12/31/20 = 339,900 - 71,550 = 268,350
Flash ECard Manufacturing manufactures software parts for the computer software systems that produce ecards. The Flash II part is currently manufactured in the Computer Department. The Data Department also produces the part and the plant has excess capacity to produce the Flash II part. The current market price of the Flash II part is $700. The managerial accountant reported the following manufacturing costs and variable expense data: Flash ECard Manufacturing Manufacturing Costs and Variable Expense Report Flash Component Direct materials $810 Direct labor $160 Variable manufacturing overhead $140 Fixed manufacturing overhead (current production level) $185 Variable selling expenses (only incurred on sales to outside consumers) $136 If the highest acceptable transfer price is $700 in the market, what is the lowest acceptable inhouse price the Data Department should receive to produce the part inhouse at the Computer Department? "810"
Answer:
the lowest acceptable inhouse price the Data Department is $1,110
Explanation:
The computation of the lowest acceptable inhouse price the Data Department is shown below:
= Direct materials + direct labor + Variable manufacturing overhead
= $810 + $160 + $140
= $1,110
Hence, the lowest acceptable inhouse price the Data Department is $1,110
The above formula should be applied for determining the lowest acceptable inhouse price is as follows:
What is the difference between demand and supply curve?
Take a deck of playing cards and remove the aces, jacks, queens, kings, and jokers. Imagine that any remaining card in the deck is a single individual, either a seller or a consumer, and all are gathered at a single perfectly competitive market. Red cards are sellers, and black cards are consumers. The number on a card indicates the individual's WTP or MC. Each seller owns a single unit of an indivisible good. Each consumer can buy at most one unit of the good from a seller. Then the market outcome will be
Answer:
the equilibrium price is 6 and units sold is 10
Explanation:
In the case when we eliminate all the jacks, queens, aces and kings we have a total of 36 card that left with the numbers from 2 to 10
also there are 18 red card of sellers and 18 black card of buyers
Now the following table should be prepared
Price Quantity demanded Quantity supplied
2 18 2
3 16 4
4 14 6
5 12 8
6 10 10
7 8 12
8 6 14
9 4 16
10 2 19
As we can see that at the price of 6 the quantity demanded would be equivalent to the quantity supplied
So, the equilibrium price is 6 and units sold is 10
Which section of a business plan gives details about a business's core products and services?
The
section of a business plan talks about a business's core products and services, and their features and benefits
to the consumers.
Answer:
an executive summary is compelling which reveals the company's mission statement, along with a short description of its products and services. its also good to briefly explain why you're starting your company and include details about your experience in the industry that you're entering
In order to sell a product at a profit, the product must be priced higher than the total cost to build the unit, plus period expenses and overhead. At the end of last year, Chester had their product Cake aimed at the Low End segment. Cake's production cost (labor + materials) last year was $14.07 ($5.89 unit labor cost and $8.18 unit material cost). Exclude possible inventory carrying costs. Assume period expenses and overhead total 50% of their production cost. What is the minimum price the product could have been sold for in the American region to cover the unit cost, period expenses, and overhead?
Answer:
Chester Cakes
The minimum price the product could have been sold for in the American region to cover the unit cost, period expenses, and overhead is:
= $21.11.
Explanation:
a) Data and Calculations:
Production cost:
Labor per unit = $5.89
Materials per unit 8.18
Total production cost $14.07
50% Overhead 7.04
Minimum price = $21.11
b) The minimum price for a unit of the cake includes the total variable production cost and the determined 50% overhead on the production cost to cover period expenses and other overhead costs.
Discovering the process of distribution of commonly used items is quite interesting and opens eyes to several new processes and careers! Your group will be in charge of dissecting the process of distribution related to any of the following items:
*Televisions
*Milk in Cartons
*Laundry Detergent
*Refrigerators
*Lumber
*Pineapples
*Video Games
*Watches
*Coffee
*Shoes
*Football Helmets
*Pencils
Narrow your research by selecting a brand or company that manufactures or distributes one of the products listed above. For example, not all shoes come from the same country, manufacturer, distributor, or are distributed alike. Select a brand of shoes you are familiar with and begin the search. The goal is to trace the process from production to consumer.
Answer and Explanation:
The distribution of laundry detergent can happen in two ways. The first way, occurs with a distribution of the factory direct to the retailers of a country. These retailers, receive the detergents, store large inventories and send them to smaller stores, within a given region. This type of distribution has a lower economic cost, which causes the detergent to be sold at lower prices.
The second form of distribution occurs with the use of intermediaries between factories and retailers. These intermediaries are the wholesalers, they receive the product from the factories forming large stocks, which will be distributed to retailers, who in turn, will distribute the product to stores. This process makes the product more expensive, making the price higher.
Rare earth metals are used in the production of many of the personal electronic devices you use every day. Suppose there is an unexpected decrease in the price of rare earth metals. a. The decrease in price of rare earth metals will lead to negative cost-push inflation. demand-pull inflation. an increase in expected inflation. negative demand-pull inflation. b. Illustrate the effect of the decrease in the price of rare earth metals by making the appropriate adjustments to the Phillips curve.
Answer:
a. negative cost-push inflation
b. Phillips Curve will shift right
Explanation:
a. Cost push inflation occurs when the costs of inputs such as wages and material costs increases. This leads to an increase in prices because producers will have to increase prices to make a profit.
In this scenario, material prices dropped instead of increasing. A negative cost-push inflation will therefore happen.
b. This will lead to a shift right in the Phillips curve to reflect that inflation has fallen. It will increase the output gap between Potential and Actual GDP because a lower inflation means more unemployment which means the economy is shrinking.
The black dot will shift right to (0, -2)
In the Assembly Department of Concord Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. Budget Actual Indirect materials $15,700 $15,100 Indirect labor 21,900 22,500 Utilities 10,100 10,900 Supervision 5,900 5,900 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center.
Answer: See explanation
Explanation:
The responsibility report for April for the cost center is analysed below:
CONCORD COMPANY
Manufacturing Overhead Cost Responsibility Report For the Month Ended April 30, 2020
Controllable Cost Budget Actual.
Difference
Indirect materials $15,700 $15,100 $600 Favorable
Indirect labor 21,900 22,500 600 Unfavorable
Utilities 10,100 10,900 800 Unfavorable
Supervision 5,900 5,900 0
difference between transport business and drink business
Answer:
a transport business uses (preferably semi's) any vehicles to transport one item from one place to another. a drink business is a place/product ( drinks (soft or alcoholic) and you sell them to make a profit
transport business is both cheaper and easy to set up and run.
Merchandise that is priced significantly lower than what customers expect to pay is likely to remain unsold.
a) True
b) False
How the experience affects buyer behavior.
Answer:
because it does
Explanation:
A
Answer:
Situational influences are temporary conditions that affect how buyers behave. They include physical factors such as a store's buying locations, layout, music, lighting, and even smells. Companies try to make the physical factors in which consumers shop as favorable as possible.
Explanation:
Which of the following statements about cash versus accrual accounting is most correct? A. In cash accounting, an event is recognized when a cash transaction occurs. B. In accrual accounting, an event is recognized when a cash transaction occurs. C. Most large healthcare organizations use cash accounting because it presents a better picture of the economic status of the organization. D. Most small healthcare organizations use accrual accounting because it closely matches statements required for income tax purposes. E. In cash accounting, an event is recognized when the obligation for a cash transaction is created.
Answer:
In cash accounting, an event is recognized when a cash transaction occurs
Explanation:
Account
This is simply a place to summarize all of the transactions that influence or affect one particular asset, liability, equity, revenue, expense, gain, or loss item.Cash are said to be asset.
Cash Accounting (COST)
This usually show (recognize) revenues and expenses when cash is physically paid or received even if or when transaction do happens. That is it will record only those transactions that affect cash ( only when someone gives or receives cash). It is very common in smaller business and can be a little inaccurate.
Accrual Accounting on the other hand, record revenue when sale is made and not when cash received. It also records expense when they arise and not when they are paid. It links revenues to when they were earned, while expenses when they are incurred. It is very common in bigger business and said to be more accurate indication of performance.
Purdum Farms borrowed $14 million by signing a five-year note on December 31, 2017. Repayments of the principal are payable annually in installments of $2.8 million each. Purdum Farms makes the first payment on December 31, 2018 and then prepares its balance sheet. What amount will be reported as current and long-term liabilities, respectively, in connection with the note at December 31, 2018, after the first payment is made
Answer and Explanation:
The amount that should be reported as the current liabilities and long term liabilities is shown below:
The borrowed amount is $14 million
And, the installments is of $2.8 million each
He makes the first payment and then made the balance sheet
So, the current liability amount is $2.8 million
And, the long term liability amount is ($2.8 × 3 years) $8.4 million
So the same would be considered and relevant too
The higher prices charged by monopolists: Group of answer choices are like a private tax that redistributes income from consumers to monopoly sellers. are socially optimal because they better reflect how much society values the good relative to the resources used to produce it. have no effect on the distribution of income. return to consumers through the public goods provided by monopolies.
Answer:
are like a private tax that redistributes income from consumers to monopoly sellers.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
For example, a public power company is an example of a monopoly because they serve as the only source of power utility provider to the general public in a society.
The higher prices charged by monopolists are like a private tax that redistributes income from consumers to monopoly sellers because the consumers are left with no choice than to patronize these monopolists for essential goods and services since they are the only seller.
Suppose you started a new all-equity financed company that is expected to generate an ROE of 15% indefinitely. The current book value per share equals $30. The required return on the stock equals 12% and you expect to grow at a constant rate of 5% forever. What is the value of the stock of the startup company
Answer:
The value of the stock at start-up = $67.5
Explanation:
According to the dividend valuation model , the current price of a stock is the present value of the expected future dividends discounted at the required rate of return
This principle can be applied as follows:
The value of stock today is the present value of the future return discounted at the required rate of return
The return can be computed as the ROE × Book value of share
Return = 15%× 30 =4.5
Price of stock today = D× (1+g)/r-g
D= current return, g- growth rate, r-required rate of return
DATA: D= 4.5, g= 5%, r= 12%
PV = 4.5× (1.05)/(0.12-0.05)
= 67.5
The value of the stock at start-up = $67.5
On April 30, 2019, Macy Products purchased machinery for $132,000. The useful life of this machinery is estimated at 5 years, with a $32,000 residual value. The company uses the double-declining-balance method. Depreciation expense for the fiscal year ending on December 31, 2020 will be:
Answer:
$38,720
Explanation:
Depreciation Expense = 2 x SLDP X BVSLDP
where,
SLDP = 100 ÷ number of useful life
= 100 ÷ 5
= 20 %
2019
Annual Depreciation Expense = 2 x 20 % x $132,000
= $52,800
But, depreciation expired for only 8 months from April 30, 2019 to December 31, 2019 during the year, therefore
Depreciation Expense = $52,800 x 8/12 = $35,200
2020
Annual Depreciation Expense = 2 x 20 % x ($132,000 - $35,200)
= $38,720
Conclusion :
Depreciation expense for the fiscal year ending on December 31, 2020 will be $38,720
Which types of charitable giving have you heard of? Check all that apply.
volunteering at a soup kitchen
donating clothes to a charity
donating canned food to a charity
volunteering at a hospital
donating toys to a charity
volunteering at an animal shelter
Answer:
volunteering at a soup kitchen
volunteering at a hospital
volunteering at an animal shelter
Explanation:
The correct options are given below.
volunteering at a soup kitchenvolunteering at a hospitalvolunteering at an animal shelterWhat Is Charitable Giving?Charitable Giving can be defined as an act of giving money, time, or some goods to unlucky or inopportune people, directly or through a worthy cause like a charitable trust.
What are the Disadvantages of Charitable Giving?The reasons most people give for objecting to conditional charity gifts are:
It interferes with the autonomy of the recipient.It's unethical to interfere in the self-determination of sovereign states.The conditions may be contrary to human rights.The conditions may be politically manipulative.Learn more about charitable giving here https://brainly.com/question/21376202
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Why wouldn't giving yourself a manicure count as GDP for the United States?
