Solution :
Variance Calculations Result
Direct material 0.08(300,000 x 4.5 - 1,240,000) 8,800 favorable
usage variance
Direct material 1,240,000 x (0.08 - 0.18) 124,000 unfavorable
price variance
The standard quantity = actual production x standard quantity per unit
= 300,000 x 4.5
= 1,350,000
On July 1, Hanson Corporation issued 10 shares of $100 par value preferred stock for cash of $1,000 per share. Write down the necessary journal entry.
Answer:
Debit Cash 10,000
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
Explanation:
Preparation of the necessary journal entry
July 1
Debit Cash 10,000
($10*1,000)
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
($10,000-$1,000)
Answer:
Explanation:
Answer:
Debit Cash 10,000
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
Explanation:
Preparation of the necessary journal entry
July 1
Debit Cash 10,000
($10*1,000)
Credit Preferred stock 1000
Credit Paid in capital in excess of par value 9,000
($10,000-$1,000)
write a few sentences describing a situation where you (or someone you know) has used their problem solving skill or agility skill to increase their human capital in order to get a better job or earn more income.
Answer:
Increase human capital
Explanation:
In order to increase my own worth, I provide a perspective that others are apprehensive to commit to. This perspective is that of complete honesty, 100% of the time. I own my mistakes, I celebrate my successes and I am humble to the lessons of others and my own.
The capacity to identify, evaluate, comprehend, and effectively solve an issue. It is a set of abilities that includes listening, creativity, innovation, and analytical prowess, among other things. It is a very valuable and difficult skill in the business world.
When employers discuss problem-solving abilities, they frequently refer to the capacity to manage challenging or unforeseen circumstances at work as well as intricate commercial difficulties. Organizations depend on individuals who can objectively evaluate both types of events and calmly pinpoint solutions. These are qualities that give you the ability to achieve it.
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At the beginning of the year, your company borrows $33,600 by signing a six-year promissory note that states an annual interest rate of 9% plus principal repayments of $5,600 each year. Interest is paid at the end of the second and fourth quarters, whereas principal payments are due at the end of each year. How does this new promissory note affect the current and non-current liability amounts reported on the classified balance sheet prepared at the end of the first quarter
Answer:
Current liabilities Increase by $6356
Non-current liabilities Increase by $27,244
Explanation:
Calculation to determine How does this new promissory note affect the current and non-current liability amounts reported on the classified balance sheet prepared at the end of the first quarter
First step is calculate the Interest Payable using this formula
Interest Payable = Principal × Interest rate × Time
Let plug in the formula
Interest Payable= $33600 × 0.09 × 3/12
Interest Payable= $756
Now let determine the current and non-current liability amounts
Current liabilities = Interest payable + Current portion of long-term debt
Current liabilities= $756 + $5600
Current liabilities= $6356
Non-current liability = Amount of promissory note - Current portion of long-term debt
Non-current liability= $33600 - $6356
Non-current liability= $27,244
Therefore How does this new promissory note affect the current and non-current liability amounts reported on the classified balance sheet prepared at the end of the first quarter is:
Current liabilities Increase by $6356
Non-current liabilities Increase by $27,244
The Accounts Receivable account of Brownstone Company has the following postings: Accounts Receivable Calculate the ending balance of the account. A. debit B. credit C. debit D. debit
Answer:
D. $16,000 debit
Explanation:
As we know Account receivable is a current asset account that has a normal debit balance. A debit entry in this account would increase the balance of the account and a credit entry in this account would decrease the account balance.
In the given question, There are two entries in the debit side.
Hence, The debit balance should be
Debit side total = 20,000 + 2,000 = 22,000
There is a credit entry in the account that will decrease the account balance
Account ending balance = 22,000 - 6,000
Account ending balance = 16,000
As the balance of the debit side is greater than the credit side. The answer will be debit 16,000
The question is incomplete
The complete question is provided in the attachement and the answer is made accordingly.
All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT Multiple Choice inadequate resources. people are working on multiple projects and feel inefficient. frequent conflicts between managers. confused employees regarding which projects are more important. not enough projects within the portfolio to make a profit.
Answer:
All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT
not enough projects within the portfolio to make a profit.
Explanation:
Strategy disconnect does not support an organization to be consistent in its actions at every level. However, where the strategy is shared across board, there is an integrated and coordinated attempt at long-term planning with the organization positioned to exceed the needs of its customers and to achieve success. With strategy connect, the organization responds well to changes in its external environment and is able to allocate scarce resources for the improvement of its competitive position.
On January 1, 20Y2, Hebron Company issued a $175,000, five-year, 8% installment note to Ventsam Bank. The note requires annual payments of $43,830, beginning on December 31, 20Y2.Journalize the entries to record the following:
Answer and Explanation:
The journal entries are shown below:
1. Cash Dr $175,000
To note payable $175,000
(being note payable is issued)
2. Interest expense Dr (8% of $175,000) $14,000
To interest payable $14,000
(being interest expense is recorded)
3. Interest payable $14,000
Note payable $29,830
To cash $43,830
(being cash paid is recorded)
4. Interest expense $6,253
To interest payable $6,253
(being interest expense is recorded)
5. Interest payable $6,253
Note payable $37,577
To cash $43,830
(being cash paid is recorded)
The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $91,050. The conversion cost for the period in the Filling Department is $497,860. The total equivalent units for direct materials and conversion are 60,700 ounces and 68,200 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent. Direct materials cost per equivalent unit: $fill in the blank 1 per ounce Conversion costs per equivalent unit: $fill in the blank 2 per ounce
Answer:
Cost of Direct material per unit = $1.50 per unitCost of Conversion = $7.30 per unitExplanation:
Cost of Direct material per unit is:
= Total cost of direct material / Total equivalent units for direct materials
= 91,050 / 60,700
= $1.50 per unit
Cost of conversion
= Total cost of Conversion / Total equivalent units for Conversion
= 497,860 / 68,200
= $7.30 per unit
a. A consulting firm that is for sale has an annual operating cash flow of $2,000,000 assuming no future growth in cash flow, what is the value of this business at a 50% cost of capital.
Answer: $4,000,000
Explanation:
Based on the information given in the question, the value of this business at a 50% cost of capital will be calculated thus:
= Annual cash flow / Cost of capital
= $2,000,000 / 50%
= $2,000,000 / 0.5
= $4,000,000
Therefore, the value of the business is $4,000,000.
Portal Manufacturing has total fixed costs of $520,000. A unit of product sells for $15 and variable costs per unit are $11. a) At a minimum, how many units must Portal sell in order not to incur a loss?b) Prepare a contribution margin income statement showing predicted net income (loss) if Portal sells 100,000 units for the year ended December 31.
At a bare minimum, the units must portal sold in order not to incur a loss of 130,000 units.
Contribution margin per unit = Selling price per unit - Variable costs per unit
= $15 - $11
= $4
Break-even sales = Fixed costs / Contribution margin per unit
= $520,000 / $4
= $130,000
Sales (130,000 units * $15) $1,950,000
Variable costs (130,000 units * $11) ($1,430,000)
Contribution margin $520,000
Fixed costs ($520,000)
Net income $0
What is the Contribution margin per unit?The asking price of 1 unit of the product less the variable producing expenses is that the contribution margin per unit. the quantity that every sale contributes toward covering mounted prices is understood because of the unit contribution margin. it'll show the profit per unit oversubscribed when the mounted prices are paid.
Revenue less variable prices equal contribution margin. The formula for conniving the contribution margin magnitude relation is revenue - variable prices / by revenue.
The nearer the contribution margin is to 100 percent, the better; 100 percent is that the ideal contribution margin. The larger the quantity, the lot effectively a business pays its operational expenses out of money existing.
Selling price per unit less variable price per unit equals contribution margin, usually called dollar contribution per unit. the quantity of sales revenue stated as "Contribution" is the fraction that's not accustomed pay variable prices and thus helps to hide mounted prices.
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how success and failure in practice of management affect organization?
Explanation:
One of the most remarkable aspects of organizational change efforts is their low success rate. There is substantial evidence that some 70% of all change initiatives fail. This article explores the argument that a potentially significant reason for this is a lack of alignment between the value system of the change intervention and of those members of an organization undergoing the change. In order to test this assertion, the article begins by reviewing the change literature with regard to the impact of values on success and failure. It then examines Graves' Emergent Cyclical Levels of Existence Theory and uses this as the basis of a method for identifying and aligning value systems. The article then presents the results from case studies of two change initiatives in different organizations. These support both the method and the assertion that value system alignment may be an important factor in the success of organizational change initiatives. The article concludes with recommendations for further research.
At the beginning of the recent period, there were 960 units of product in a department, 35% completed. These units were finished and an additional 5,200 units were started and completed during the period. 880 units were still in process at the end of the period, 25% completed. Using the weighted average method, the equivalent units produced by the department were:
Answer:
Using the weighted average method, the equivalent units produced by the department were:
= 5,500 units.
Explanation:
a) Data and Calculations:
Units Conversion
Beginning inventory 960 35%
Additional units started 5,200
Units available 6,160
Ending inventory 880
Units completed 5,280
Equivalent units of production:
Units completed 5,280 5,280 (100%)
Ending inventory 880 220 (25%)
Equivalent units of production 5,500
Question 3
Rank the following assets of a commercial bank in order of decreasing liquidity.
(a) Market loans
(b) Reserves with the Bank of Ghana
(c) Cash
(d) Personal loans
(e) Sale and repurchase agreements (repos)
(f) Mortgages
(g) Government bonds (of from one to five years to maturity)
Answer:
Reserves with the Bank of Ghana
Explanation:
I could be wrong let me know if its correct or incorrect
Which one of the following will not cause a change in the demand for labour, illustrated by a shift of the demand curve?
A. An increase in the number of employers
B. Anncrease in the wage rate
C. A decrease in the price of the product
D. An increase in the productivity of labour
Answer:
B. Anncrease in the wage rate
One thing that will not lead to a change in the demand for labor is B. Annual increase in the wage rate.
What affects the demand for labor?When there are more employers, more labor will be demanded as when there is an increase in labor productivity.
When there is a decrease in the price of a product however, the demand for labor drops. Annual increases in the wage rate are already accounted for and so do not affect labor demand.
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Swift Motor Lines has a delivery truck that cost $11,000, and has $1,000 of accumulated depreciation. What is the fair market value of the truck
Answer: Information is not sufficient to answer.
Explanation:
The fair market value of a fixed asset is the current value in the market of the fixed asset. Given that we do not know the current market value as it is not given in the question, we are unable to answer this question.
If the question had asked to calculate the net book value then we would have simply subtracted the accumulated depreciation from the cost price but this is a fair market value question so its different.
Warehouse Sports, a large box store retailer of athletic shoes, orders 200,000 shoes per year from its manufacturer. If w-
and spends $10,000 in total annual ordering costs, what is the cost of ordering and delivery per order?
O $2,000
$50
W
O $500
O There is not enough information to answer this question.
Why was Circuit City so successful as to be fea- tured in Good to Great? What was its strategic position during its successful period? How did it contribute to competitive advantage?
Answer:
Circuit city was the second largest multinational U.S elctronic retailer. Founded in 1949 and it has 567 circuit superstores around the world. McCollough was the CEO who has an experience of 13 years. Because of his experienece in marketing and store management, he could serve the company as a genral manager.
McCollough implimented several strategies in order to gain the brand image for the company.
They have used five S's stratergies which includes selection, saving, service, satisfaction and speed
Explanation:
Several other reasons for calling circuit city successful as Good to Great are as follows,
The company has a point-of-point scale and also inventory-tracking technology to have control on secured cash transactions and consistent systems
The company is able to provide a quit response for timely chnaging trends and adapt to the dynamic environment in the market
They have avoided unneccessary business practices and neglected several unnessary competencies in the market
A(n) ______ is a network that links the intranets of business partners via the Internet in such a way that the result is a virtually private network.a. intranet b. browser c. extranet
Answer:
c. extranet
Explanation:
The controlled, and the private network that permits the third-party partners in order to received the information that related to the particualr company and also it can be done without any access for an overall network of an organization
So as per the given situation, it is an extranet
Hence, the same is to be considered
which of the following would be included in the set of electrical plans for individual residence?
A. Individual romex cables
B. Power panels to be installed
C. routes of cables
D. Wire sizes
Answer:
A. Individual romex cables
Explanation:
Individual romex cables would be included in the set of electrical plans for individual residence.
This is because they are a non-metallic sheathed cables, and they are flexible electrical cables which are popularly used in residential setups.
This cable comes with two insulated wires that include a ground copper wire that ensures safe passage of electrical current in case of any unfortunate event.
Trident Manufacturing Company's treasurer identified the following cash flows during this year as significant. It had repaid existing debt to the tune of $425,110, while raising additional debt capital of $750,000. It also repurchased stock in the open markets for a total of $63,250. It paid $233,144 in dividends to its shareholders. What is the net cash provided (used) by financing activities?
Answer:
$28,496
Explanation:
Calculation to determine the net cash provided (used) by financing activities
Cash inflows from financing activities $750,000
Less Cash outflows from financing activities ($721,504)
($425,110 + $63,250 + $233,144)
Net cash flows from financing activities $28,496
($750,000 – $721,504)
Therefore the net cash provided (used) by financing activities is $28,496
You decide to buy 1,800 shares of stock at a price of $68 and an initial margin of 75 percent. What is the maximum percentage decline in the stock price before you will receive a margin call if the maintenance margin is 30 percent
Answer:
Decline percentage = 64.29%
Explanation:
First find the margin call price = Initial price x (1 - initial margin) / (1-maintenance margin)
Margin call price = 68 x ( 1- 75%) / (1 - 30%)
Margin call price = $24.29
The margin call that the investor will have if the price fall to $24.29.
Now find the percentage decline:
Percentage decline = (68 - 24.29) / 68
Percentage decline = 0.6429
Thus decline percentage = 64.29%
Karen usually does not spend much time selecting gifts. However, when choosing a fountain pen for her husband's birthday this year, she visited several stores and spent a lot of time asking the sales staff about different features of the pen before making her purchase. This scenario illustrates _______. a. shopping involvement.b. enduring involvement.c. product involvement.d. situational involvement.
Answer:
Option d: situational involvement
Explanation:
Types of Involvement
Product Involvement; message involvement, situational involvement
Product involvement
In this stage of involvement, consumer's level of interest in product is largely based on perceived risk and application to daily life. This is simply known as a product category that is of high personal relevance.
Message involvement
This is simply the effects the media has on consumers such as high involvement is equal to high cognitive effort required (newspaper) while low-involvement equal to low cognitive.
Situational Involvement
This is simply defined as the circumstances surrounding the purchase area that may temporarily change a low-involvement decision into a high-involvement one. High-involvement is therefore when the consumer perceives risk in a specific situation. This usually takes place at location where purchasing.
Analysis of a foreign subsidiary's financial statements denominated in Euro, its local currency, shows a growth rate in revenue of 16%. Suppose that during the year, the value of the Euro increased in terms U.S. dollars. The subsidiary's revenue growth rate expressed in U.S. dollars will be:
Answer:
The appropriate answer is "Greater than 16%".
Explanation:
Throughout this situation, the country's currency of companies has shown a 16 percent raise, which means that the sales of the subsidiaries would increase more than 16 percent whenever represented among Us dollars.As several currencies are increasing inside this valuation of the national currency, the transformation rate is greater than 16% as that the incidence increases.A certificate of deposit usually has: Multiple Choice a variable rate of return. no minimum deposit amount. no set time period. a penalty for early withdrawal of funds. earnings based on fluctuating market interest rates.
Answer:
A certificate of deposit usually has:
a penalty for early withdrawal of funds.
Explanation:
When a customer opens an account with a bank or credit union with an initial deposit, which remains the same or continues to increase at a fixed amount until the agreed maturity period, a certificate of deposit is issued to the customer. The customer does not withdraw any amount until the fixed period has elapsed. Thereafter, the customer receives a fixed interest plus the deposit.
Many elementary schools participate in programs where students go out into the community on behalf of a company to sell products from a catalog of goods, which the company ships directly to the consumer. Usually the school gets a cut of the profits and the kids are rewarded with prizes based on how much they sell. What type of channel member do the school children represent in this example?
Answer: Retailers
Explanation:
One type of distribution channel is one where a company ships its goods directly to a retailer which would then sell to a customer. For instance, when a car company sells directly to a car dealership and then the car dealership sells to consumers.
This is what is happening here. The company is selling directly to the school which then sells the goods through the students, to consumers. The students and the school can therefore be said to be retailers.
Recurring upswings and downswings in an economy's real GDP over time are called Group of answer choices recessions. total product oscillations. business cycles. output yo-yos.
Answer:
Business cycles
Explanation:
Business cycle is the correct answer because when the economy grows then the GDP of the country also grows. While the decrease in economic activities leads to slow down the economy and then GDP of the country falls. Therefore, the complete circle of GDP boost and then contract is called the business cycle.
Strait Co. manufactures office furniture. During the most productive month of the year, 3,200 desks were manufactured at a total cost of $82,800. In the month of lowest production, the company made 1,290 desks at a cost of $64,900. Using the high-low method of cost estimation, total fixed costs are a.$52,816 b.$82,800 c.$64,900 d.$17,900
Answer:
a.$52,816
Explanation:
Calculation to determine total fixed costs
First step
Variable cost per unit = (Highest activity cost - Lowest activity cost)/(Highest activity - Lowest activity)
Variable cost per unit= ( 82,800-64,900)/(3,200-1,290)
Variable cost per unit= 17,900/1910
Variable cost per unit= $9.37 per unit
Now let determine the Fixed cost
Fixed cost = Highest activity cost - Highest activity x Variable cost per hour
Fixed cost= $82,800 - 3,200 x 9.37
Fixed cost= $82,800-$29,984
Fixed cost= $52,816
Therefore Using the high-low method of cost estimation, total fixed costs are $52,816
Using the data below, determine the ending inventory amount assuming the weighted average method under a periodic inventory system.
Beginning inventory 10 units
Purchases 20 units
Total cost of units available for sale $3,000
Ending inventory 12 units
Answer:
$1200
Explanation:
The computation of the ending inventory is shown below:
Weighted Average Cost per unit is
= Cost of units available for sales ÷ units available for sales
= $3000 ÷ 30
= $100
Now
Ending Inventory is
= 12 units × Weighted Average Cost per unit $100
= $1200
Kohl Co. provides warranties for many of its products. The January 1, 2013, balance of the Estimated Warranty Liability account was $54,088. Based on an analysis of warranty claims during the past several years, this year's warranty provision was established at 0.60% of sales. During 2013, the actual cost of servicing products under warranty was $39,922, and sales were $2,149,100. Required: a. What amount of Warranty Expense will appear on Kohl Co.'s income statement for the year ended December 31, 2013
Answer: $12,894.60
Explanation:
Warranty expense for 2013 will be calculated as:
= Actual warranty expense * Estimated warranty expense %
Actual warranty expense = Sales because these are the products under warranty.
Warranty expense is therefore:
= 2,149,100 * 0.60%
= $12,894.60
what is the meaning of want
Answer:
Want is to desire something or to yearn. (EX. I want an ice cream.) Want is showing that you would like something basically
Explanation:
By appropriately preparing a forecast budget, a company can avoid __________. a net loss inventory shortages insolvency regulation
Answer:
insolvency
Explanation:
A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis.
The first step of the budgeting process is to prepare a list of each type of income and expense that will be part of the budget.
The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.
A specialized budget can be defined as a financial plan that is typically focused on specific assets or activity of a master (comprehensive) budget.
In conclusion, by appropriately preparing a forecast budget, a company can avoid insolvency.
