Answer: $232
Explanation:
The Contribution margin of a business refers to the amount left from it's sales after the variable costs have been accounted for.
It can be calculated by the formula:
= Selling price per unit - Variable cost per unit
= 480 - 248
= $232
How does unemployment impact a society
People living in a society judge a person very quickly If the person is unemployment society starts to judge and they start to dominate who is unemployment
To decrease unemployment we need to respect each work but the people living in a society starts to judge people and that's the great weakness of the people so if Unemployment is decreased in the country, than there would be positive impact
i hope i have give my answer according to my thoughts
Craigmont Company's direct materials costs are $3,400,000, its direct labor costs total $7,360,000, and its factory overhead costs total $5,360,000. Its conversion costs total:__________
a) $10,760,000.
b) $8,760,000.
c) $12,720,000.
d) $5,400,000.
e) $16,120,000.
Answer:
c) $12,720,000.
Explanation:
Conversion Costs = Direct Labor Costs + Factory Overheads
= $7,360,000 + $5,360,000
= $12,720,000
Thus,
Craigmont Company's conversion costs total is $12,720,000.
Depletion Entries Alaska Mining Co. acquired mineral rights for $9,432,000. The mineral deposit is estimated at 52,400,000 tons. During the current year, 7,850,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimal places. $fill in the blank b21c5bf8507dfbf_1 b. Journalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not require an entry, leave it blank.
Answer:
a.$1,413,000
b.Dr Depletion Expense $1,413,000
Cr Accumulated Depletion $1,413,000
Explanation:
a. Calculation to determine the amount of depletion expense for the current year.
First step is calculate the depletion per ton
Depletion per ton=$9,432,000/52,400,000 tons Depletion per ton= $0.18 per ton
Now let calculate the depletion expense
Depletion expense =7,850,000 tons × $0.18
Depletion expense = $1,413,000
Therefore the amount of depletion expense for the current year is $1,413,000
b. Preparation of the adjusting entry on December 31 to recognize the depletion expense
Dr Depletion Expense $1,413,000
Cr Accumulated Depletion $1,413,000
(To record Depletion of mineral deposit)
Various shareholders' equity topics; comprehensive
Part A
In late 2010, the Nicklaus Corporation was formed. The corporate charter authorizes the issuance of 5,000,000 shares of common stock carrying a $1 par value, and 1,000,000 shares of $5 par value, noncumulative, nonparticipating preferred stock. On January 2, 2011, 3,000,000 shares of the common stock are issued in exchange for cash at an average price of $10 per share. Also on January 2, all 1,000,000 shares of preferred stock are issued at $20 per share.
Required:
1. Prepare journal entries to record these transactions.
2. Prepare the shareholders' equity section of the Nicklaus balance sheet as of March 31, 2011. (Assume net income for the first quarter 2011 was $1,000,000.)
Part B
During 2011, the Nicklaus Corporation participated in three treasury stock transactions:
a. On June 30, 2011, the corporation reacquires 200,000 shares for the treasury at a price of $12 per share.
b. On July 31, 2011, 50,000 treasury shares are reissued at $15 per share.
c. On September 30, 2011, 50,000 treasury shares are reissued at $10 per share.
Required:
1. Prepare journal entries to record these transactions.
2. Prepare the Nicklaus Corporation shareholders' equity section as it would appear in a balance sheet prepared at September 30, 2011. (Assume net income for the second and third quarter was $3,000,000.)
Part C
On October 1, 2011, Nicklaus Corporation receives permission to replace its $1 par value common stock (5,000,000 shares authorized, 3,000,000 shares issued, and 2,900,000 shares outstanding) with a new common stock issue having a $.50 par value. Since the new par value is one-half the amount of the old, this represents a 2-for-1 stock split. That is, the shareholders will receive two shares of the $.50 par stock in exchange for each share of the $1 par stock they own. The $1 par stock will be collected and destroyed by the issuing corporation.
On November 1, 2011, the Nicklaus Corporation declares a $.05 per share cash dividend on common stock and a $.25 per share cash dividend on preferred stock. Payment is scheduled for December 1, 2011, to shareholders of record on November 15, 2011.
On December 2, 2011, the Nicklaus Corporation declares a 1% stock dividend payable on December 28, 2011, to shareholders of record on December 14. At the date of declaration, the common stock was selling in the open market at $10 per share. The dividend will result in 58,000 (.01 × 5,800,000) additional shares being issued to shareholders.
Required:
1. Prepare journal entries to record the declaration and payment of these stock and cash dividends.
2. Prepare the December 31, 2011, shareholders' equity section of the balance sheet for the Nicklaus Corporation. (Assume net income for the fourth quarter was $2,500,000.)
3. Prepare a statement of shareholders' equity for Nicklaus Corporation for 2011.
Answer:
good question. Wait for the answer
Explanation:
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
Inflation imposes many costs on the economy: shoe-leather costs, money illusion, menu costs, wealth redistribution, price confusion, future price level uncertainty, and tax distortions.
a. True
b. False
Answer: True
Explanation:
Inflation refers to the decline in the purchasing power of a currency over time. Inflation creates shoe leather cost which refers to the cost of time and.the effort by which individuals spend so as to mitigate the effects of inflation, like holding fewer cash.
Also, inflation creates money illusion as there's reduction in the value of money that one holds. Inflation creates menu costs as prices goes up. It also brings about wealth redistribution, price confusion, future price level uncertainty, and tax distortions.
Therefore, the correct option is True.
Purple Cab Company had 57,000 shares of common stock outstanding on January 1, 2021. On April 1, 2021, the company issued 27,000 shares of common stock. The company had outstanding fully vested incentive stock options for 5,700 shares exercisable at $11 that had not been exercised by its executives. The average market price of common stock was $13. The company reported net income in the amount of $276,915 for 2021. What is the basic earnings per share (rounded)
Answer:
$3.58
Explanation:
Calculation to determine the basic earnings per share (rounded)
Using this formula
Basic earnings per share=Net income/(shares of common stock outstanding+(shares of common stock*9/12)
Let plug in the formula
Basic earnings per share=$276,915/(57,000 + (27,000 × 9/12))
Basic earnings per share=$276,915/(57,000+20,250)
Basic earnings per share=$276,915/77,250
Basic earnings per share= $3.58
(April 1 to December 31 =9 months)
Therefore Basic earnings per share is $3.58
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
Suppose an industrial building can be purchased for $2,500,000 today and is expected to yield cash flows of $180,000 each of the next five years. (Note: assume cash flows are received at end of year.) If the building is expected to be sold at the end of the fifth year for $2,800,000, calculate the IRR for this investment over the five year holding period
Answer: 9.20%
Explanation:
Use Excel to find out the IRR.
Ensure that you write the purchase price in negatives as shown in the attached picture.
The cashflow for the last year will be the sum of the selling price and the cash flow.
= 2,800,000 + 180,000
= $2,980,000
IRR = 9.20%
A small ice cream business earns $26538 profit during the two months of July and August. This represents 35% of the annual profit. Find the annual profit. Round to the nearest whole number.
Let the annual profit be x.
profit earned in July and August is 35% of the annual profit
=> $26538 = 35% of x
=> $26538 = (35/100) × x
=> $26538 × (100/35) = x
=> $2653800/35 = x
=> $530760/7 = x
So, the profit is $530760/7.
The annual profit is $75,823.
Given that,
Two months profit is $26,538.This two month profit represents 35% of annual profit.We need to find annual profit.According to the scenario, computation of the given data are as follows,
Let annual profit be X.
So, X [tex]\times[/tex] 35% = 26,538
X = 26,538 [tex]\div[/tex] 0.35
X = 75,822.86 or 75,823
Hence annual profit = $75,823.
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For the remaining questions, please consider the following transactions that happened upon the incorporation of Berry Company by its owner, John Berry, during the first week of January:
· It received €50,000 in cash from John Berry as capital.
· It borrowed €30,000 from a local bank.
· It purchased €15,000 of equipment for cash.
· It purchased €20,000 of inventory on account.
· It pre-paid €3,000 for the office rent and €2,000 for the insurance.
What is the total current assets at the end of the week?
Answer: €100,000
Explanation:
Cash received is an assetThe money borrowed is also cash so assets increaseEquipment was exchanged for cash. Both of them are assets so there is NO EFFECT on assets here. Inventory purchased on account will increase assets because assets were acquired with liabilities in this instance. Prepayments are assets but because this was paid with cash, there is NO EFFECT on assets as they cancel each other out.Total assets at the end of the week are:
= Cash + Cash borrowed + Inventory purchased on account
= 50,000 + 30,000 + 20,000
= €100,000
If Hawk Manufacturing incurs $600,000 during a joint manufacturing process before the split-off point, that $600,000 represents the
Answer:
Joint cost incurred in the process
Explanation:
In domain of accounting, a joint cost can be regarded as a cost that is been incurred in a joint process. Joint costs may encompass costs like direct material,overhead costs as well as direct labor that is been incurred during a joint production process.
joint production process can be regarded as one whereby one input give yields of multiple outputs. This process helps to automatically creates other types of output product when creating one type of output.
For instance, Joint cost when a Manufacturing company incurs $600,000 during a joint manufacturing process before the split-off point, that $600,000 represents the Joint cost .
The master budget of a merchandising company includes a:_______
a. Production budget.
b. Direct materials budget.
c. Factory overhead budget.
d. Direct labor budget.
e. Purchases budget.
Answer:
a. Production budget.
Explanation:
hope it helps :>
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.
In this type of budget, the master budget is based on a single prediction for sales volume, and the budgeted amount for each cost essentially assumes that a specific amount of sales will occur. Group of answer choices Flexible budget. Variable budget. Standard budget. Fixed budget.
Answer:
Fixed budget.
Explanation:
A fixed budget can be regarded as financial plan which is not been modified for any variations that could come up in actual activity. In most times some companies may have experience of substantial variations as regards their expected activity levels within the encompassed period of budget as well as the amounts in that budget. The budget cost allowances in a fixed budget for each cost item cannot be changed as regards the variable items. It should be noted that in Fixed budget the master budget is based on a single prediction for sales volume, and the budgeted amount for each cost essentially assumes that a specific amount of sales will occur.
Newton Corporation was organized on January 1, 20X7. On that date, it issued 200,000 shares of its $10 par value common stock at $15 per share (400,000 shares were authorized). During the period January 1, 20X7, through December 31, 20X9, Newton reported net income of $750,000 and paid cash dividends of $380,000. On January 5, 20X9, Newton purchased 12,000 shares of its common stock at $12 per share. On December 31, 20X9, 8,000 treasury shares were sold at $8 per share. Newton used the cost method of accounting for treasury shares. What is the total stockholders' equity of Newton as of December 31, 20X9
Answer:
$3,290,000
Explanation:
Calculation to determine total stockholders' equity of Newton as of December 31, 20X9
200,000 shares issued for $15$3,000,000
(200,000 shares* $15)
Add Net income $750,000
Less Dividends ($380,000)
Less Purchased 12,000 treasury shares at $12 ($144,000)
(12,000 treasury shares*$12)
Add Decrease in treasury stock account $96,000
(8,000 shares *$12)
Less Decrease in additional paid-in capital ($32,000)
[(8,000 shares *$12)-(8,000 shares *$8])
Total Stockholders’ equity $3,290,000
Therefore total stockholders' equity of Newton as of December 31, 20X9 is $3,290,000
An asset is purchased on January 1 for $44,700. It is expected to have a useful life of five years after which it will have an expected residual value of $6,000. The company uses the straight-line method. If it is sold for $32,000 exactly two years after it is purchased, the company will record a: Multiple Choice
Answer:
Gain of $2,780
Explanation:
Calculation to determine what The company will record If it is sold for $32,000 exactly two years after it is purchased
First step is to calculate the Annual depreciation expense using this formula
Annual depreciation expense = (Cost − Residual value) × (1 ÷ Useful life)
Let plug in the formula
Annual depreciation expense = ($44,700 − $6,000) × (1 ÷ 5)
Annual depreciation expense =$38,700× (1 ÷ 5)
Annual depreciation expense =$ 7,740
Second step is to calculate the Accumulated depreciation using this formula
Accumulated depreciation = Year 1 depreciation expense + Year 2 depreciation expense
Let plug in the formula
Accumulated depreciation = $7,740 +$7,740
Accumulated depreciation = $15,480
Now let calculate the Gain (loss) on disposal
Using this formula
Gain (loss) on disposal = Proceeds from sale − (Cost − Accumulated Depreciation at time of sale)
Let plug in the formula
Gain (loss) on disposal = $32,000 − ($44,700 − $15,480)
Gain (loss) on disposal =$32,000-$29,220
Gain (loss) on disposal=$2,780
Therefore If it is sold for $32,000 exactly two years after it is purchased, the company will record a GAIN of $2,780
Labor productivity is?
Answer:
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure.
The descriptive term used to explain how people, businesses, and countries around the world are more interdependent because of the changes in forces like transportation, media, technology, and global finance is ________.
Answer:
Globalization
Explanation:
Globalization can be regarded as process which involves integration as well as interaction of people across the globe as well as companies and governments across the world. Globalization has improved as result of advances in transportation as well as communication technology which makes the to come together.
It should be noted that Globalization explained how people, businesses, and countries around the world are more interdependent because of the changes in forces like transportation, media, technology, and global finance.
A small component is purchased for the use in the production of a major product. The standard price of the component is $0.85. During a recent period, 7,800 units were purchased and 6,800 were actually used. The standard quantity of units allowed for the actual output of the period was 6,540 units. What was the materials quantity variance
Answer:
See below
Explanation:
Given the above information,
Material quantity variance is computed as;
= (Actual quantity - Standard quantity of units allowed for the actual output )
Actual quantity = 6,800 units
Standard quantity = 6,540 units
= 6,800 - 6,540
= 260 units
Therefore, the materials quantity variance is 260 Unfavourable.
It is unfavourable because the standard is higher than the actual
In order to remain certified, I have to:
Submit a renewal form.
Complete a seller training course every 2 years.
Complete a 30 minute refresher course.
Do nothing, the certificate never expires.
In order to remain certified, you have to complete a seller training course every 2 years. Option B. This is further explained below.
What is the training course?Generally, the training course is simply defined as several types of training courses, and each one teaches a certain set oaf abilities.
In conclusion, Every two years, you must retake a seller training course to keep your certification current.
Read more about training course
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You were asked to read U.S. Statistics in 1912 and in your writing journal, you reflected upon how different your life would be had you lived 100 years ago. The learning objective of this assignment was:__________
Explanation:
Hi, you've asked an incomplete question. However, based on inference, after consult relevant academic material, the learning objective on this particular assignment is stated below;
"To think about things like your education, career goals, romantic relationships, how you get around, and your physical health, write at least one paragraph explaining how such aspects of your life would have changed had you lived in the early 1900s."
Which of the following combinations is ensured to increase?
please you can give any option or full question
A company's ratio of liabilities to stockholders' equity decreased from 0.6 to 0.4 during the year. This is a.an improvement in the margin of safety for creditors. b.an indication that the company's level of debt is increasing. c.a negative change in the company's financial position. d.an improvement in the company's net income.
Answer:
A)an improvement in the margin of safety for creditors.
Explanation:
Margin of safety can be regarded as a principle of investing whereby an investor only make purchases of securities during the time when the market price is below their intrinsic value significantly. In a case whereby
the market price of a security falls below ones estimation of its intrinsic value significantly, then the difference that exist there is regarded as margin of safety. Margin of safety can as well be regarded as financial ratio which gives measurement of the amount of sales which exceed the break-even point. Most times investors may create a margin of safety with regards to their own risk preferences, purchasing of securities in a time that there is a difference give room for an investment to be made with minimal downside risk.
For instance, company's ratio of liabilities to stockholders' equity decreased from 0.6 to 0.4 during the year.
You are considering an investment project with an internal rate of return of 8.7 percent, a net present value of $393, and a payback period of 2.44 years. Which one of the following is correct given this information?
A. The discount rate used to compute the net present value is equal to the Internal rate of return.
B. The discounted payback period will be less than 2.44 years.
C. The required payback period must be greater than 2.44 years.
D. The discount rate used in computing the net present value was less than 8.7 percent.
E. This project should be rejected based on the net present value.
Answer:
Hence the correct option is d) The discount rate used in computing the net present value was less than 8.7 percent.
Explanation:
As the discount rate increases, the present value decreases, and also at IRR the present value is zero, thus the answer is:-
d) The discount rate used in computing the net present value was less than 8.7 percent
Answer:
D). The discount rate used in computing the net present value was less than 8.7 percent.
Explanation:
'Net Present Value' is described as the 'difference that exists between existing values of cash inflows, as well as, cash outflows for a particular time period.' This assists in evaluating the profitability of an investment and make worthy decisions regarding investment.
As per the details provided, the discount rate considered for estimating the Net Present Value of the investment had been lesser than 8.7% which shows that the Net Present Value in positive i.e. $ 393. However, the investment project is not beneficial at all rather it may cause losses because the required return rate is 9.5% which is actually lesser and therefore, the project would prove incompetent and it must be rejected at once. Thus, option D is the correct answer.
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:
Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 26 percent for the next 3 years, with the growth rate falling off to a constant 7 percent thereafter. If the required return is 14 percent and the company just paid a $1.90 dividend. what is the current share price
Answer:
$46.20
Explanation:
Dividend in year 1 = 1.90 x 1.26 = 2.39
Dividend in year 2 = 1.90 x 1.26² = 3.02
Dividend in year 3 = 1.90 x 1.26³ = 3.80
Dividend in year 3 = (3.80 x 1.07) / (0.14 - 0.07) = 58.10
Calculate the present value of these dividends
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 = 2.39
Cash flow in year 1 = 3.02
Cash flow in year 1 = 3.80 + 58.10
I = 14
PV = $46.20
To determine PV using a financial calculator take the following steps:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
A company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixed costs of $150,000. The number of units the company must sell to break even is:___________.
A. 50,000 units.
B. 300,000 units.
C. 75,000 units.
D. 30,000 units.
Answer:
c
Explanation:
Breakeven quantity are the number of units produced and sold at which net income is zero
If the sales of a company exceeds the breakeven quantity, the firms is earning a profit.
If the company's sales is less than the Breakeven quantity , the firm is making losses that would not be recouped
Breakeven quantity = fixed cost / price – variable cost per unit
150,000 / (5 -3) = 75000
The role of the financial manager is closely related to three main cash-related activities: Financing Investing Operating.
a. True
b. False
Answer:
b. False
Explanation:
The role of financial manager has different perspectives, ensuring that the required funding for positive NPV projects is available such that the firm can increase its shareholders' wealth by investing in profitable investment opportunities.
Investing means when the funds are made available , the manager must priotize those projects with higher opportunities over those with lower growth opportunities.
Lastly, the financial manager is responsible for dividend decisions, what fraction of earnings should be paid out to shareholders as dividends)not operating decisions)
According to the growth accounting studies, if you lived in a country where illiteracy was high and 40% of the children left school early and did not complete their education what would probably be the results for that country
Answer: b. There would be both a human and economic loss.
Explanation:
Education is usually necessary for economic growth as educated human beings are better able to engage in higher income businesses and services and come up with or be able to use better technology that would serve to improve the economy of a country.
This is why developed countries have such high literacy rates and developing countries lag behind. Research has shown that most developed countries really saw growth only after they pursed a national policy aimed at improving literacy.
