Answer: $9.20
Explanation:
Using the weighted average inventory costing method, the price is abased on the number of units and their price.
The above inventory cost would be calculated as follows:
= [ (Opening units * Cost of units) + (Units purchased * Cost of purchase) ] / Total units in inventory
= [ (20 * 8) + (30 * 10) ] / (20 units + 30 units)
= [ 160 + 300 ] / 50
= $9.20
In January, Dieker Company requisitions raw materials for production as follows: Job 1 $970, Job 2 $1,700, Job 3 $790, and general factory use $660. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
Dr Work in Process Inventory $3460
Cr Manufacturing Overhead $660
Cr Raw materials Inventory $2,800
Explanation:
Preparation of a summary journal entry to record raw materials used.
Based on the information given the summary journal entry to record raw materials used will be:
Dr Work in Process Inventory $3460
($970+$1700+$790)
Cr Manufacturing Overhead $660
Cr Raw materials Inventory $2,800
($3460-$660)
(To record raw materials used)
For February, sales revenue is $250,000; sales commissions are 6% of sales; the sales manager's salary is $50,000; advertising expenses are $15,000; shipping expenses total 1% of sales; and miscellaneous selling expenses are $1,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are:_______.
a. $65,000.
b. $69,750.
c. $82,250.
d. $84,750.
Answer:
d. $84,750.
Explanation:
Calculation to determine what Total selling expenses for the month of February are:
Sales commissions $15,000
($250,000 ×6%)
Sales manager's salary $50,000
Advertising expenses $15,000
Shipping expenses $2,500
($250,000 × 1%)
Miscellaneous selling expense $2,250
[$1,000 + ($250,000 × 0.5%)]
Total selling expenses $84,750
Therefore Total selling expenses for the month of February are:$84,750
You are buying a laptop and there is two payment plans to consider. Payment plan A is to pay $4,900 now and payment plan B is to pay $500 now and pay $210.30 per month for 30 months. Using an interest of 24%, which payment plan do you choose
Answer: Plan A has a lower present value and should be chosen.
Explanation:
Choose the one that has the lower present value because that means that it would be cheaper.
Present value of plan A = $4,900
Present value of plan B
= $500 + Present value of $210.30 per month for 30 months
$210.30 is constant so it is an annuity.
Periodic interest rate = 24%/12 = 2%
Present value of annuity = Annuity * ( 1 - (1 + rate)^-number of periods) / rate
= 210.30 * ( 1 - (1 + 2%)⁻³⁰) / 2%
= $4,709.97
Present value of plan B = 500 + 4,709.97
= $5,209.97
Choose Plan A because it has a lower present value.
The difference between the amount received from issuing a note payable and the amount repaid at maturity is referred to as:
Answer: interest
Explanation:
Notes payable occurs when a promissory note is issued to the bearer by the firm. Notes payable can either be short term which is within a year or long term which is more than a year.
The difference between the amount received from issuing a note payable and the amount repaid at maturity is known as the interest.
g Todd Foley is applying for a $210,000 mortgage. He can select either a $1,470 monthly payment with no points or a $1,323 payment with 4 points. How many months will it take Todd to cover the cost of the discount points if he takes the lower monthly payment
Answer:
57 months
Explanation:
Calculation to determine How many months will it take Todd to cover the cost of the discount points if he takes the lower monthly
payments
Number of months to cover cost=(.04 x $210,000)/($1470-$1323)
Number of months to cover cost = $8400/147
Number of months to cover cost =57 months
Therefore the number of many months it will take Todd to cover the cost of the discount points if he takes the lower monthly
payments is 57 months
One key characteristic that is distinctive of an oligopoly market is that Group of answer choices the demand curve facing each firm is downward sloping, with a marginal revenue curve that lies below the firm's demand curve. the decisions of one seller often influence the price of products, the output, and the profits of rival firms. there is only one firm that produces a product for which there are no good substitutes. there are many sellers in the market and each is small relative to the total market.
Answer:
The decisions of one seller often influence the price of products, the output, and the profits of rival firms.
Explanation:
An oligopoly is a market structure where there are only a few sellers. Therefore, around two or more firms have control over the market. Collectively, they can influence the prices and supply.
This ultimately results in high-level competition between these sellers. Since there are a few sellers in the oligopoly structure, each of these company's profit levels not only depends on the decisions made by them but also on the decisions made by their rival firms.
Hence, option no. 3 "the decisions of one seller often influence the price of products, the output, and the profits of rival firms" is correct.
The ABC Corporation makes collections on sales according to the following schedule: 45% in month of sale 50% in month following sale 5% in second month following sale The following sales have been budgeted: Sales April $ 160,000 May $ 180,000 June $ 170,000 Budgeted cash collections in June would be:
Answer: $170500
Explanation:
Based on the information given in the question, the budgeted cash collections in June would be calculated thus:
= (45% × $160000) + (50% × $180000) + (5% × $170000)
= $72000 + $90000 + $8500
= $170500
Therefore, the budgeted cash collections in June would be $170500
Explain why, for income tax purposes, management of Dorsey Co. would want as little of the purchase price as possible allocated to land. (Select all that apply.)
Answer:
In simple words, any company operating a business do not want to allocate much price to the land as it is non current asset and also it does not depreciate in value over time.
The depreciation amount reduces the taxable income of the year which further results in less taxable amount. Thus, resulting in higher profits for the company.
Marion is a great manager and he has a number of special skills. In particular, Marion has the ability to get his subordinates to do more than would be normally expected. Which of the following terms best describes Marion?
a. Transactional leader
b. Supportive leader
c. Charismatic leader
d. People-oriented leader
Answer: c. Charismatic leader
Explanation:
Charismatic leaders are people who are capable of motivating other people by using their great interpersonal and communication skills, ability to charm others and the ease with which they can persuade people.
When they motivate others, those people are willing to do more than they normally do in relation to what they were being motivated for. In this case, Marion is therefore a charismatic leader as he is able to get employees to do more than they normally do.
When the price of paintings is set at $500, the local art gallery supplies 20 paintings per week. When the price of paintings increases to $750, the gallery supplies 25 paintings. Calculate the price elasticity of supply using the mid-point formula. Instructions: Round your answer to two decimal places. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The price elasticity of supply is: .
Answer:
the price elasticity of supply is 0.555
Explanation:
The computation of the price elasticity of supply is given below:
= Percentage change in quantity supplied ÷ percentage change in price
= (25 - 20) ÷ (25 + 20) ÷ 2 ÷ (750 - 500) ÷ (750 + 500) ÷ 2
= 5 ÷45 ÷ 250 ÷ 125
= 0.555
Hence, the price elasticity of supply is 0.555
The same is relevant
odson Company manufactures a product with a standard direct labor cost of 2.3 hours of labor per unit at $10.60 per hour. Last month, 170 units were produced using 90 hours at $11.60 per hour. What was the company's labor quantity variance
Answer:
Direct labor time (efficiency) variance= $3,190.6 favorable
Explanation:
To calculate the direct labor quantity variance, we need to use the following formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (391 - 90)*10.6
Direct labor time (efficiency) variance= $3,190.6 favorable
Standard quantity= 2.3*170= 391
Good afternoon. Kindly assist on the following please. Assignment due by 4:30pm Mike bookshop had the following structure. Share capital 500000 ordinary shares of $1 each. 300000 10% preference of $1 each. Reserves Share premium 200 000 General reserves 100 000 Retained earnings 400 000 8% debenture 100 000 During the year the following transaction took place. 01 January issue of 200 000 $1 ordinary shares at$1,20 and 100 000 preference shares at $2 each. 01 June a 1 for 4 right issue at a premium of $0,10c each per share. 01 December 1 for 5 bonus shares fully paid. All shares issued during the year qualified for bonus and the company wishes to leave the reserves in their flexible form. Required. Balance sheet extract.
Answer:
Mike Bookshop
Balance Sheet Extract as at December 31
Share capital:
1,050,000 ordinary shares of $1 each $1,050,000
400,000 10% preference of $1 each 400,000
Total share capital $1,450,000
Reserves:
Share premium 357,500
General reserves 100,000
Retained earnings 225,000
Total reserves $682,500
8% debenture $100,000
Explanation:
a) Data and Analysis:
Share capital:
500000 ordinary shares of $1 each.
300000 10% preference of $1 each.
Reserves:
Share premium 200 000
General reserves 100 000
Retained earnings 400 000
8% debenture 100 000
During the year the following transaction took place.
01 January Cash $240,000 Ordinary share capital $200 000 Share Premium $40,000
$1 ordinary shares at$1.20 and
01 January Cash $200,000 Preferred share capital $100 000 Share Premium $100,000
01 June Cash $192,500 Ordinary share capital $175,000 Share Premium $17,500
a 1 for 4 right issue at a premium of $0.10c each per share.
01 December Retained Earnings $175,000 Ordinary share capital $175,000
1 for 5 bonus shares fully paid.
Ordinary share capital:
Beginning balance $500,000
January 1 issue 200,000
June 1 rights issue 175,000
Dec. 1 bonus issue 175,000
Ending balance $1,050,000
Preferred share capital:
Beginning balance $300,000
January 1 issue 100,000
Ending balance $400,000
Share Premium:
Beginning balance $200,000
January 1 issues 140,000
June 1 rights issue 17,500
Ending balance $357,500
General reserves $100,000
Retained Earnings:
Beginning balance $400,000
Dec. 1 Bonus issue (175,000)
Ending balance $225,000
On January 1, Parson Freight Company issues 7.0%, 10-year bonds with a par value of $4,500,000. The bonds pay interest semiannually. The market rate of interest is 8.0% and the bond selling price was $4,194,222. The bond issuance should be recorded as:
Answer: Debit Cash $4,194,222; Debit Discount on bonds payable $305,778; Credit Bonds payable $4,500,000
Explanation:
Based on the information given in the question, the journal entry will be prepared as follows:
Debit Cash $4,194,222
Debit Discount on bonds payable $305,778
Credit Bonds payable $4,500,000
Note that the discount on Bonds Payable was calculated as:
= $4,500,000 - $4,194,222
= $305,778
TeleGlobal is an American firm producing TV sets. TeleGlobal imports TV set components from India and assembles them domestically. Suppose that in the United States, a TV set sells for $400 and that 80% of the TV set’s value comes from the value of the imported components. The United States imposes a 40% tariff on TV sets and a 10% tariff on the TV set’s components. Assume that costs of producing components are the same in the United States and India and that transit costs are nonexistent. Based on the information provided, the effective rate of protection that TeleGlobal receives from the tariff is
Answer:
135 %
Explanation:
Given that,
The selling price of T.V. set in the U.S. = $400
The Tariff imposed on T.V. sets = 30%
The Tariff on its imported components = 10%
To find,
The effective rate of protection gained from tariff = ?
Method:
As we know
Effective rate of protection
= tariff on finished imported good + cost/price of its components * (tariff on imported good - tariff on components imported)/(price of final good - price of its components)
So, by putting the given values in above formulae;
= 40% + 80% of 400 * (40% - 10 %)/(400 - 80% of 400)
= 40 + 320 * (30)/(400 - 320)
= 360 * 30/(80)
= 360 * 30/80
= 135%
How does marketing satisfy your needs as a college student? Are certain aspects of your life influenced more heavily by marketing than others? Provide examples
Activity A is worth $100, is complete, and actually cost $150. Activity B is worth $500, is 75% complete, and has actually cost $400 so far. Activity C is worth $500, is 25% complete, and has actually cost $200 so far. What is the estimated cost at completion for this project, assuming current variances are typical of future variances?
Answer:
$1,375
Explanation:
Budget at completion = Worth of activity A + Worth of activity B + Worth of activity C
Budget at completion = $100 + $500 + $500
Budget at completion = $1,100
Earned value = Worth of activity A*% completed + Worth of activity B*% completed + Worth of activity C*% completed
Earned value = $100*100% + $500*75% + $500*25%
Earned value = $100 + $375 + $125
Earned value = $600
Actual cost = Actual cost of Activity A + Actual cost of Activity B + Actual cost of Activity C
Actual cost = $150 + $400 + $200
Actual cost = $750
Cost performance Index = Earned value / Actual cost
Cost performance Index = $600 / $750
Cost performance Index = 0.80
Cost performance Index = 80%
Estimate at completion = Budget at completion / Cost performance Index
Estimate at completion = $1,100 / 0.80
Estimate at completion = $1,375
Company xyz made the following transactions 6 marks
Borrowed loan of ksh 50000 to start a business
Obtained Ksh 150,000 in cash from proceeds of sales
Paid out ksh 240000 in form of salaries
Purchased Ksh 600000 worth of machinery in cash
Purchased a track valued at Ksh 1, 500 000 by paying Ksh 300000 in cash and getting a
loan for the reminder
Paid rent of rent of Ksh 80000 and advertising of ksh 50,000 in cash each
Determine the value of the company’s assets, liability and equity
Answer:
Company XYZ
Total assets ksh 1,030,000
Total liabilities ksh 1,250,000
Total equity ksh (220,000)
Explanation:
a) Data and Analysis:
Cash ksh 50,000 Loan payable ksh 50,000
Cash ksh 150,000 Sales revenue ksh 150,000
Salaries expense ksh 240,000 Cash ksh 240,000
Equipment ksh 600,000 Cash ksh 600,000
Track ksh 1,500,000 Cash ksh 300,000 Loan payable ksh 1,200,000
Rent Expense ksh 80,000 Advertising Expense ksh 50,000 Cash ksh 130,000
Assets:
Cash ksh 50,000
Cash ksh 150,000
Cash ksh (240,000)
Equipment ksh 600,000
Cash ksh (600,000)
Track ksh 1,500,000
Cash ksh (300,000)
Cash ksh (130,000)
Total assets ksh 1,030,000
Liabilities:
Loan payable ksh 50,000
Loan payable ksh 1,200,000
Total liabilities ksh 1,250,000
Equity:
Sales revenue ksh 150,000
Salaries expense ksh (240,000)
Rent Expense ksh (80,000)
Advertising Expense ksh (50,000)
Total equity ksh (220,000)
Organizational learning and creativity play an important role in helping managers improve their decisions. Managers must take steps to promote organizational learning and creativity at individual as well as group levels to improve the quality of decision making. Managers can encourage and promote entrepreneurship that mobilizes resources to take advantage of an opportunity to provide customers with new or improved goods and services. The quality of managerial decision making ultimately depends on innovative responses to opportunities and threats. How can managers increase their ability to make nonprogrammed decisions that will allow them to adapt to, modify, and even drastically alter their task environments so they can continually increase organizational performance
Answer:
Organization learning is the process by which the managers seeks employees desires and ability to understand the task environment.
Explanation:
Organizational learning plays an important role in managers by raising their ability to make programmer decisions that will allow them by adapting to, modifying, and even alter their work environment. Creativity helps managers in thinking and problem solving.Granfield Company is considering eliminating its backpack division, which reported an operating loss for the recent year of $42,200. The division sales for the year were $963,800 and the variable costs were $477,000. The fixed costs of the division were $529,000. If the backpack division is dropped, 40% of the fixed costs allocated to that division could be eliminated. The impact on Granfield's operating income for eliminating this business segment would be:__________.
a. $275,200 increase
b. $486,800 decrease
c. $211,600 increase
d. $275,200 decrease
e. $486,800 increase
Answer:
d. $275,200 decrease
Explanation:
Calculation to determine what The impact on Granfield's operating income for eliminating this business segment would be:
Using this formula
Impact on operating income =Saving in relevant fixed cost -loss of Contribution margin of backpack Division
Let plug in the formula
Impact on operating income=($529,000*40%)-($963,800-$477,000)
Impact on operating income=$211,600-$486800
Impact on operating income=$275,200 decrease
Therefore The impact on Granfield's operating income for eliminating this business segment would be:$275,200 decrease
In the world oil market, oil is supplied up to the point where: Select one: A. the marginal cost of the last barrel is at a maximum B. the marginal cost of the last barrel is the greatest distance from the price buyers are willing to pay for that last barrel C. the marginal cost of the last barrel is zero D. the marginal cost of the last barrel is just equal to the price buyers are willing to pay for that last barrel.
Answer:
D. the marginal cost of the last barrel is just equal to the price buyers are willing to pay for that last barrel.
Explanation:
In the case of the oil market that oil is to be supplied to the point where the marginal cost of the previous barrel should be equivalent to the price where the pruchaser want to pay for that previous barrel
So as per the given situation, the option d is correct
ANd, the rest of the options seems incorrect
Along any downward sloping straight-line demand curve: Group of answer choices both the price elasticity and slope are constant. both the price elasticity and slope vary. the price elasticity varies, but the slope is constant. the slope varies, but the price elasticity is constant.
Answer:
the price elasticity varies, but the slope is constant
Explanation:
The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
At the midpoint of the demand curve, demand is usually unit elastic. Above the midpoint of the demand curve, demand is elastic and blow the midpoint, demand is inelastic
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases
Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.
These are selected account balances on December 31, 2020. Land (location of the office building) $97000 Land (held for future use) 152000 Corporate Office Building 675000 Inventory 182000 Equipment 457000 Office Furniture 135000 Accumulated Depreciation 427000 What is the total net amount of property, plant, and equipment that will appear on the balance sheet
Answer:
$937,000
Explanation:
Calculation to determine the total net amount of property, plant, and equipment that will appear on the balance sheet
Land (location of the office building) $97000
Add Office Building 675000
Add Equipment 457000
Add Office Furniture 135000
Less Accumulated Depreciation (427000 )
Total Net Amount $937,000
Therefore the total net amount of property, plant, and equipment that will appear on the balance sheet is $937,000
How does the design demonstrate the ability to analyze, research, and explore a variety of information sources to adequately address how the target market might interpret a designmessage
Answer:
Design should be analyzed, explored and researched carefully so that it adequately targets the audience.
Explanation:
A design has the ability o inclines people's decisions and allows for interpretation. The design is can be used to tell whether the product is going to stay in the market and helps in the identification of the target audience. The market can interpret the message in design in various ways such as by positive and negative. Thus design should be made keeping in mind the ethics and characteristics of the object. Design should match the traits of people.Ames Trading Co. has the following products in its ending inventory.Product Quantity Cost per Unit Market per UnitMountain bikes 11 $600 $550Skateboards 13 $350 $425Gliders 26 $800 $700Compute lower of cost or market for inventory applied separately to each product.
Answer:
Mountain Bikes
Market value is $550 and cost is $600.
Lower is market.
Inventory value is therefore:
= Quantity * Market
= 11 * 550
= $6,050
Skateboards
Market value is $425 and cost is $350.
Cost is lower.
Inventory value is:
= 13 * 350 cost
= $4,550
Gliders
Market value is $700 and cost is $800.
Inventory value is:
= 26 * 700 market value
= $18,200
Select the market segment that looks the most promising?
1. Luxury trenfollowers
Segment size 5,000(5%)
Growth rate 7%
2. School children
Segment size 35,000 (35%)
Growth rate 1%
3. University students
Segment size 24,099(24%)
Growth rate 5%
4. Outdoor enthusiasts
Segment size 14,000 (14%)
Growth rate 5%
5. Urban commuters
Segment size 20,000 (20%)
Growth rate 3%
Answer:
Luxury Trend followers
Explanation:
The consider which market segment shows the most or higest level of promise, we may have to the growth rate of each segment, which is the percentage change in earnings or revenue over a specific period of time. From the data given, the market segment with the greatest growth rate is the trend followers segment with a growth rate of 7%
Luxury trend followers : 7%
School children : 1%
University students : 5%
Outdoor enthusiasts : 5%
Urban Commuters : 3%
Which of the following is not an example of what creates a hostile work environment?
1. Displaying sexually suggestive pictures or posters
2. Making sexual comments to other employees
3. All of these
4.Dispensing Assignments based on merit.
Answer:
4.Dispensing Assignments based on merit.
Explanation:
Dispensing Assignments based on merit is not an example of what creates a hostile work environment.
There are examples of what could cause a hostile work environment which include sexual harassment, use of foul language, etc.
However, giving assignments based on merit is not one of those.
A money market security that has a par value of $10,000 sells for $8,924.70. Given that the security has a maturity of two years, what is the investor's required rate of return?
Answer:
The answer is "5%".
Explanation:
[tex]\to \$8,924.70 = \frac{10,000}{(1 + r )^2}\\\\\to \$8,924.70 (1+r)^2= 10,000\\\\\to (1+r)^2= \frac{10,000}{\$8,924.70}\\\\\to (1+r)^2= \frac{10,000}{\$8,924.70}\\\\\to (1+r)^2= 1.1204\\\\\to (1+r)= 1.05\\\\\to r= 1.05-1\\\\\to r=0.05\\\\\to r=5\%\\\\[/tex]
Suppose a company is considering the following 5 independent projects:
Project
A
B
C
D
E
initial Investment
$100
$300
$400
$500
-$200
NPV
$20
$30
$40
$45
$15
What projects, if any, should be selected if the capital budget is $500?
Answer:
A & C
Explanation:
NPV, The Net Present Value of an investment is used in finance to calculate the profitability of a projected investment.
Since the capital budgeted for any investment is $500 ; hence the total initial investment the company can make should not exceed $500 ;
The company will be looking indulge in the most profitable investment, this we can judge Yung the NPV of each investment :
Therefore, the total NPV on investment A and Investment C is the highest while maintaining the $500 capital budget value.
Investment : ___ NPV
$100 - - - - - - - - > $20
$400 - - - - - - - - > 40
$500 - - - - - - - - > $60
The country of Bolivia had a Gross Domestic Product of $79 billion in 2016 and a population of 11 million people, the GDP per capita would be ________.
Answer:
The GDP per capita of country of Bolivia would be $7,181.82.
Explanation:
GDP Per capita refers to a measure that calculates a country's economic output per person by dividing its GDP by its population.
Therefore, we have:
GDP per capita = GDP / Population = $79 billion / 11 million = $79,000,000,000 / $11,000,000 = $7,181.82
Therefore, the GDP per capita of country of Bolivia would be $7,181.82.
On whom the trade bill drawn ?
The bill of exchange is drawn by the seller of the goods and is accepted by the buyer.
