the cost of quality has two components: the cost of good quality. the costs for good quality are the cost of monitoring and preventing defects. the cost of poor quality are often hidden, hitting customers and departments not immediately related to production. some experts argue that:

Answers

Answer 1

Answer: Quality is never costless because monitoring and prevention have costs

Explanation:

The cost of quality has two parts which are the cost of prevention and the cost of failure. The cost of quality simply refers to the sum of the prevention cost and the cost of failure.

It should be noted that spending more on prevention helps in reducing the cost of failure. According to experts, quality is is never costless because monitoring and prevention have costs.


Related Questions

Vextra Corporation is considering the purchase of new equipment costing $38,000.The projected annual cash inflow is $11,600, to be received at the end of each year.The machine has a useful life of 4 years and no salvage value.Vextra requires a 12% return on its investments.The present value of an annuity of $1 for different periods follows:Periods 12 Percent1 0.89292 1.69013 2.40184 3.0373What is the net present value of the machine (rounded to the nearest whole dollar)?a. $(35,233).b. $(2,767).c. $38,000.d. $(3,700).e. $5,233.

Answers

Answer:

b. $(2,767).

Explanation:

The computation of the net present value is shown below:

= Present cash flows - initial investment

= ($11,600 × 3.0373) - $38,000

= $35,232.68 - $38,000

= -$2,767.32

= -$2,767

Hence, the option b is correct

We simply applied the above formula to determine the net present value

Your subscription to BusinessWeek is about to expire. You plan to subscribe to the magazine for the rest of your life. You can renew it by paying $50 annually, beginning immediately, or you can get a lifetime subscription for $500, also payable immediately. Assuming that you can earn 6.525% on your funds and that the annual renewal rate will remain constant, how many years must you live to make the lifetime subscription the better buy?
a) 7.48.
b) 8.80.
c) 10.35.
d) 12.18.
e) 14.33.

Answers

Answer: 15 years

Explanation:

The number of years that would make the lifetime subscription a better buy would be the one that would cause the present value of paying $50 per year to equal $500.

You can use the NPER function on Excel to find this out.

Rate = 6.525%

Pmt = 50

Pv = -500

Fv = 0

Type = 1 because payment begins immediately.

= 14.9997 years

= 15 years

implications of game theory

Answers

Answer:

Game Theory is a general mathematical analysis to investigate the strategic interactions among players. Game theorists attempt to provide precise descriptions of situations of conflicting interests in order to study the behavior that such a conflict would (or, in some cases, should) elicit from rational agents. Players are assumed to consider the position and perceptions of other players while forming their strategies. In our examples, we will assume that there are two players, and that each has two choices and the fact that the players are selfish (operate in their own best interests) and rational .

Limitations of Game Theory :

The biggest issue with game theory is that, like most other economic models, it relies on the assumption that people are rational actors that are self-interested and utility-maximizing. Of course, we are social beings who do cooperate and do care about the welfare of others, often at our own expense. Game theory cannot account for the fact that in some situations we may fall into a Nash equilibrium, and other times not, depending on the social context and who the players are.

Roosevelt Corporation has a weighted-average unit contribution margin of $30 for its two products, Standard and Supreme. Expected sales for Roosevelt are 40,000 Standard and 60,000 Supreme. Fixed expenses are $1,800,000. How many Standards would Roosevelt sell at the break-even point?
A. 36,000
B. 40,000
C. 60,000
D. 24,000

Answers

Answer:

D. 24,000

Explanation:

Calculation to determine How many Standards would Roosevelt sell at the break-even point

First step

Total sales = 40000 + 60000

Total sales= 100000 units

Second step

Standard = 40000 / 100000

Standard= 0.4

Third step

Supreme = 60000 / 100000

Supreme= 0.6

Fourth step

Overall break even in units = 1800000 / 30

Overall break even in units= 60000 units

Now let calculate the Standards sales at break even point

Standards sales at break even point = 60000 *

0.4

Standards sales at break even point =24000 units

Therefore the Standards sales at break even point is 24000 units

Cyclical unemployment arises when:______.
a. the agriculture sector completes the cycle of planting, cultivating, and harvesting the nation's food supply.
b. labor unions strike for higher wages.
c. the business cycle enters an expansionary phase.
d. business activity in the macroeconomy declines.

Answers

Answer:

D

Explanation:

types of unemployment

structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.  

The geologist lost his hob permanently due to increase in wages (polices)

Frictional unemployment:  the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. when a real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.

Voluntary unemployment: e.g. worker at a fast-food restaurant who quits work and attends college.

Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom  

The Federal Reserve mandates banks and thrifts to deposit in their regional Federal Reserve Bank a fraction of their checkable deposits as:

Answers

Answer:

Required Reserves

Explanation:

Fractional banking is a banking system where a portion of customer's deposits is kept as reserves while remaining portion is lent out. The amount kept as reserves is determined by the required reserve ratio set by the Central bank.

Reserves is the total amount of a bank's deposit that is not given out as loans

Reserves = Deposits - outstanding loans

$100,000 - $70,000 = $30,000

there are 2 types of reserves

1. Required reserves is the percentage of deposits required of banks to keep as reserves by the central bank

Required reserves = reserve requirement x deposits

0.2 x $100,000 = $20,000

2. Excess reserves is the difference between reserves and required reserves

$30,000 - $20,000 = $10,000

One thousand dollars is invested at 5% continuous annual interest. this means the value of the investment will grow exponentially, with k equaling the decimal rate of interest. What will the value of the investment be after 7 1/2 years?
a. $1, 375.00.
b. $375.00.
c. $1, 454.99.
d. $454.99.

Answers

A , 5% of 1K = 50$, 50$x7.5 = 375$
375+1000= 1375$


Why is it important to test sending an electronic resume before sending it to an employer?

Answers

Answer:

To double check the formatting

Explanation:

You do this in order to double-check the formatting before the electronic resume get sent out to the employer. When the resumes is converted to this format, the text In it could be confusing to someone reading or it could be difficult to read. the best thing for you to do is to check it properly to see how the resume appears before you send it out

Chavez Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $ 36,000 $ 34,500 Work in process $ 20,500 $ 26,000 Finished goods $ 36,500 $ 51,500 Additional information: Raw materials purchases $ 70,500 Direct labor cost $ 95,500 Manufacturing overhead cost incurred $ 63,500 Indirect materials included in manufacturing overhead cost incurred $ 9,800 Manufacturing overhead cost applied to Work in Process $ 62,500 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for July is:

Answers

Answer:

Cost of goods manufactured= $214,700

Explanation:

First, we need to calculate the direct material used:

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 36,000 + 70,500 - 34,500

Direct material used= $72,000

Now, we can determine the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 20,500 + 72,000 + 95,500 + (62,500 - 9,800) - 26,000

cost of goods manufactured= $214,700

You invested 50% of the wealth in stock A and the remaining 50% in stock B. The expected rates of returns on A and B are given below: Year Expected return on A Expected return on B 2000 14% 16% 2001 15% 17% 2002 16% 18%2003 17% 19%Find the standard deviation of the portfolio. A. 0.955%.B. 1.291%.C. 1.697%.D. 2.124%.E. 2.890%.

Answers

Answer:

B. 1.291%

Explanation:

The computation of the standard deviation is shown below;

= 2000 + 2001 + 2002 +  2003

= 0.5 × 14% + 0.5 × 16% + 0.5 × 15% + 0.5 × 17% + 0.5 × 16% + 0.5 × 18% + 0.5 × 17% + 0.5 × 19%

= 15% + 16%  + 17% + 18%

= stdev( 15% + 16%  + 17% + 18%)

= 1.291%

Hence, the correct option is b.

The____________________ identifies the processes entailed in the business continuity plan and/or the disaster recovery plan.

Answers

Answer:

impact analysis.

Explanation:

The missing word is impact analysis. Hope this helps.

Hillside Manufacturing Company uses 2,000 units of bearings per year. The bearings are purchased from a supplier in Florida. The following information is known for the problem:
Annual demand, D 2.000 units $10
Purchase price per unit, P
Holding cost per unit per year expressed as a percent of per-unit purchase price 20% $125
Ordering cost per order. S
Lead time. L 6 days 250
Number of working days per year
Answer the following questions. Write your final answer only (without intermediate steps) for the fill-in-the-blank questions.
Question 2 (2 points) The holding cost (H) = $ A/ per unit per year. Use 2-decimal accuracy for the final answer, e.g., 0.12, when necessary.
Question 3 (2 points) The economic order quantity (EOQ) = units. Round the final answer (if it is not an integer) to the nearest integer.
Question 4 (2 points) Based on the EOQ, the average inventory = A units. Round the final answer (if it is not an integer) to the nearest integer.
Question 5 (2 points) A/ Total annual inventory holding cost = $ . Round the final answer (if it is not an integer) to the nearest integer.
Question 6 (2 points) The optimal number of orders per year = A orders. Round the final answer (if it is not an integer) to the nearest integer.
Question 7 (2 points) Total annual inventory cost (excluding the purchase cost) = $ A Round the final answer (if it is not an integer) to the nearest integer
Question 8 (2 points) A units. Round Reorder point (ROP) = the final answer (if it is not an integer) to the nearest integer.
Question 9 (2 points) If the management decides to order 2,000 units (instead of the EOQ quantity obtained above) per order, the total annual inventory cost (excluding the purchase cost) = $ A Round the final answer (if it is not an integer) to the nearest integer.

Answers

Answer:

2. holding cost is $2

3. EOQ = 500 units

4. Average inventory = 250units

5. total annual hoding cost = $500

6. number of orders is 4

7. total annual inventory = $1000

8. reorder point = 48

9. $2125

Explanation:

2. holding cost = 20% * $10

the holding cost is 20 percent of the purchase price for each unit

= 0.2*10

= $2.00

3. the EOQ

= 2*2000*$125/$2

= 250000

[tex]EOQ=\sqrt{250000}[/tex]

= 500 units

4.average inventory = EOQ/2

= 500/2 = 250 units

5. total annual hoding cost = average inventory * holding cost

= 250*2

= $500

6. number of orders= 2000 units/EOQ

= 2000/500

= 4 0rders

7. total annual inventory cost = ordering cost annual + holding cost annual

ordering annual cost = 2000/500*125

= 500

total annual inventory cost = 500 + 500 = $1000

8. reorder point

wwe first calculate the daily demand; = 2000/250 = 8

ROP = 8*6 = 48

9. annual ordring = 2000/2000 * 125

= $125

annual holding  = 2000/2 * holding cost of $2

= $2000

total annual inventory = 125 + 2000

= $2125

Glen Pool Club, Inc., has a $150,000 mortgage liabilty. The mortgage is payable in monthly installments of $1,543 , which include interest computed at an annual rate of 12 percent (1 percent monthly). Prepare a partial amortization table showing (1) the original balance of this loan, and (2) the allocation of the first two monthly payments between interest expense and the reduction in the mortgage`s unpaid balance. Prepare the journal entry to record the second monthly paymment. Will monthly interest increase, decrease or stay the same over the life of the loan? Explain.

Answers

Answer:

Glen Pool Club, Inc.

1. Monthly Pay:   $1,542.92

2. Monthly Amortization Schedule

Monthly Amortization Schedule  

 Date Beginning Balance Interest Principal Ending Balance

1 7/2021 $150,000.00 $1,500.00 $42.92 $149,957.08

2 8/2021 $149,957.08 $1,499.57 $43.35 $149,913.73

3. Journal Entry:

Debit Interest $1,499.57

Debit Mortgage Liability $43.35

Credit Cash $1,542.92

To record the second monthly payment.

4. Monthly interest will continue to decrease over the life of the loan because part of the principal is being repaid with each monthly payment.  Therefore, the next monthly balance will reduce.  It is with this monthly balance that the interest for the month is computed.  So, interest will continue to decrease.

Explanation:

a) Data and Calculations:

Mortgage liability = $150,000

Monthly installment payment = $1,543

Annual interest rate = 12%

Monthly Pay:   $1,542.92

Home Price  150000

Down Payment  0  %

Loan Term  30  years

Interest Rate  12

 

Calculate  

Monthly Pay:   $1,542.92

Total of 360 Mortgage Payments $555,450.80

Total Interest $405,450.80

True or false. The primary functions of price in a free market are to inform, direct, and motivate consumers and firms.

Answers

Answer:

True

Explanation:

Prices in a free market co-ordinate the buying and selling decisions in the market.  In their rationing role, prices inform the distribution of goods and other resources throughout the economy.  Prices motivate firms by acting as incentives that provide a standard of measure of value throughout the world. Prices direct producers and consumers, thereby acting as signals to educate producers and consumers on how to adjust their production and consumption decisions.

Consider the market for purple potatoes below and assume that a price ceiling of $30 is imposed by the government. Calculate the deadweight loss:

Answers

Answer:

$5000

Explanation:

The life of a sole proprietorship is limited. A sole proprietor can generally raise large sums of capital quite easily. Transferring ownership of a sole proprietorship is easier than transferring ownership of a corporation. A sole proprietorship is taxed the same as a C corporation. A sole proprietorship is the most regulated form of organization.

Answers

Answer: The life of a sole proprietorship is limited.

Explanation:

A sole proprietorship simply means a one man business where the owner manages, controls the business and enjoys the profits alone.

A sole proprietorship has a limited liability as its life is limited. Normally, the death of the owner would result in the end of the business and the owner bears the loss alone.

A A sole proprietorship is not taxed the same as a C corporation and it isn't the most regulated form of organization.

You buy a 12-year 10% annual coupon bond at par value, $1,000. You sell the bond 3 years later for $1,100. What is your total rate of return over this 3-year period?

Answers

Answer:

40%

Explanation:

Coupon per year = Face Value * Coupon Rate

Coupon per year = $1,000 * 10%

Coupon per year = $1,000 * 0.10

Coupon per year = $100

Total Coupon in 3 years = Coupon per year * 3 years

Total Coupon in 3 years = $100 * 3 years

Total Coupon in 3 years = $300

Rate of return = [(Selling Price - Face Value) + Coupon Received] / Face Value*100

Rate of return = [[($1,100 - $1,000) + $300] / 1000] *100

Rate of return = [[$100 + $300] / $1000] * 100

Rate of return = $400 / $1000 * 100

Rate of return = 0.40

Rate of return = 40%

would you recommend that accountants wait until collections are made from customers before recording sales revenue

Answers

Answer: No

Explanation:

Accounting currently uses the Accrual basis and this is the best basis to use so far because it records revenue when they are earned not when the actual money comes in.

In doing this, the company is able to properly ascertain the revenue that it made in a particular period. If a company were to wait until collections were made, the company might wait for over one period to record their sales which would not be very helpful in calculating income for the period.

Also if companies waited to record only after sales, people not paying and becoming doubtful debts become a headache to record.

A bond has a modified duration of 8 and a price of 112,955 calculated using an annual effective interest rate of 6.4%. EMAC is the estimated price of this bond at an interest rate of 7.0% using the first-order Macaulay approximation EMOD is the estimated price of this bond at an interest rate of 7.0% using the first-order modified approximation Calculate EC EMOD A. 91 B. 102 C. 116 D. 127 E. 143

Answers

Answer:

Option E (143) is the appropriate solution.

Explanation:

According to the question,

The modified duration will be:

= [tex]\frac{Macaulay \ duration}{(1+yield)}[/tex]

= [tex]8\times 1.064[/tex]

= [tex]8.512[/tex]

The percentage change in price will be:

= [tex]-0.6\times 8 \ percent[/tex]

= [tex]-4.8[/tex] (%)

Now,

The EMOD will be:

= [tex]112955\times (1-4.8 \ percent)[/tex]

= [tex]107533.2[/tex] ($)

Or,

The EMAC will be:

= [tex]112955\times (\frac{1.064}{1.07} )^{8.512}[/tex]

= [tex]107675.7[/tex] ($)

Hence,

⇒ [tex]EMOD-EMAC=107533.2-107675.7[/tex]

                                  [tex]=-142.5[/tex]

⇒ [tex]EMAC-EMOD=143[/tex]

g dividends paid 13500. what was the net income for the past year of the firm faces a tax rate of 30%

Answers

Answer:

A.) £27,214.29

B.) £19,250

Step-by-step explanation:

Given the following :

Andy £13500

Bevan £27500

Cheryl £13250

Deva £75000

Elliott £18750

Frankie £27500

Grace £15000

Mean income = (total sum of salaries / number of workers)

Mean income = £(13500 + 27500 + 13250 + 75000 + 18750 + 27500 + 15000) / 7

Mean income = (£190,500 / 7) = £27,214.286

B.) mean income excluding Deva's salary:

Mean income = Mean income = £(13500 + 27500 + 13250 + 18750 + 27500 + 15000) / 7

Mean income = £115,500 / 6

Mean income = £19,250

The Molding Department of Boswell Company has the following production data: beginning work process 40,000 units (60% complete), started into production 730,000 units, completed and transferred out 690,000 units, and ending work in process 80,000 units (40% complete). Assuming conversion costs are incurred uniformly during the process, the equivalent units for conversion costs are:

Answers

Answer: 770,000 units

Explanation:

The Equivalent units for Conversion cost is calculated as:

= Total units completed and transferred out + Equivalent units of closing work in process

As the conversion costs were incurred uniformly during the process, the entire closing work in process would have already incurred conversion cost. Conversion cost closing equivalent units are therefore 80,000 units.

Equivalent units for Conversion cost = 690,000 + 80,000

= 770,000 units

LB Limited is a price taker in a perfectly competitive market. It produces and sells canned spices. The following information is available for the company: Current output 5000 units Current market price $3 Total cost $25,000 Marginal cost $3 Total variable cost $20,000 What is the best action for LB limited? a) Operating in the short run and in the long run b) Increase output in the short run and in the long run c) Shut down in the short run and exit in the long run d) Shut down in the short run and produce in the long run e) Reduce output in the short run and increase output in the long run

Answers

Answer:

The answer is "Option c".

Explanation:

In this question c, the short-term Shut - down as well as the long-term departure. Since overall revenues are lower than the entire variable cost, it means that a producer is not capable of covering the variable cost, thus stopping the output in the short term and the business leaving it market on account of losses inside the long term.


Discuss the two differences of Theory X and Y. Give example

Answers

key difference between theory X and theory Y

CompuTop Company sells toy laptop computers for $30 each. If the variable cost for each laptop is $20 and fixed costs total $25,000, how much sales in dollars must it sell to generate a target income of $66,667

Answers

Answer:

the sales in dollars sell to generate the target income is $183,334

Explanation:

The computation of the sales in dollars sell to generate the target income is shown below:

= (Fixed cost + target income) ÷ (selling price - variable cost) ÷ selling price

= ($25,000 + $66,667) ÷ ($30 - $20) ÷ $20

= $91,667 ÷ 50%

= $183,334

Hence, the sales in dollars sell to generate the target income is $183,334

In a small open economy, output (gross domestic product) is $25 billion, government purchases are $6 billion, and net factor payments from abroad are zero. Desired consumption and desired investment are related to the world real interest rate in the following manner:
World Real Interest Rate Desired Consumption Desired Investment
5% $12 billion $3 billion
4% $13 billion $4 billion
3% $14 billion $5 billion
2% $15 billion $6 billion
For each value of the world real interest rate, find national saving, foreign lending, and absorption. Calculate net exports as the difference between output and absorption. What is the relationship between net exports and foreign lending?

Answers

Answer:

Consumption is given.

Investment is also given.

Government spending is $6 billion.

GDP is $25 billion.

National Saving = GDP - Consumption - Government spending

Foreign lending = Savings - Investment

Absorption = Consumption + Investment + Government spending

Net Exports = GDP - Absorption

The relationship/ correlation between Net Exports and Foreign Lending is one that is perfectly positive as both measures are exactly the same.  

_____ can be calculated as the percentage of workers who remain in a firm from one point in time to another point in time.

Answers

Answer: Retention rate

Explanation:

Retention rate refers to the percentage of customers that are retained by a business for a given period of time.

Retention rate is usually calculated on an annual basis. It can be calculated as the percentage of workers who remain in a firm from one point in time to another point in time.

A company had cash sales of $49,527, credit sales of $38,540, sales returns and allowances of $7,100 and sales discounts of $4,375. The company's net sales for this period equals what? (I added cash sales and credit sales. Then I subtracted sales returns and allowances and sales discounts. Not sure if my calculations are correct.) Please explain your answers.

Answers

Answer:

The company's net sales for this period equal to $76,592

Explanation:

First we need to calculate the total sales using the following formula

Total Sales = Cash Sales + Credit sales

Where

Cash Sales = $49,527

Credit sales = $38,540

Placing values in the formula

Total Sales = $49,527 + $38,540

Total Sales = $88,067

Now use the following formula to calculate the net sales

Net Sales = Total Sales - Sales returns and allowances - Sales discount

Where

Total Sales = $88,067

Sales returns and allowances = $7,100

Sales discount = $4,375

Placing values in the formula

Net Sales = $88,067 - $7,100 - $4,375

Net Sales = $76,592

A statement of cash flows helps answer all of the following: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply What explains the changes in the cash account?unanswered Where does a company spends its cash?unanswered How can the company improve its operations?unanswered How does a company receives its cash?unanswered What are the changes in the non-cash accounts?

Answers

Answer:

What explains the changes in the cash account?Where does a company spends its cash?How does a company receive its cash?

Explanation:

The Statement of Cash Flows shows the actual cash that a company has by showing the various places that cash comes in from and how cash leaves. It therefore shows how the cash account changes.

In showing how cash leaves the company, the statement shows how the company spends its cash and in showing how money comes in, the statement shows how the company receives its cash as well such as through investments in other companies and net income.

The Statement of Cash Flows depicts a company's actual cash flow by displaying where the money originates from and where it goes. As a result, it depicts the movement of the cash account.

The statement indicates how money left the company and how it gets in, such as through investments in other companies and net income.

So, Option A, B, and D are correct.

The other Options are incorrect as:

Option C is incorrect as a cash flow does not show how a company improves its operation it only shows the transactions.

Option E is incorrect as cash flow does not represent changes in noncash accounts as cash flow represents only cash transactions.

A cash flow is a physical or digital transfer of capital: a payment, notably from one central bank fund to another, is a cash flow in its restricted sense; the word 'cash flow' is primarily used to denote the transfer of funds from one central bank account to another.

Thus Options A, B, and D are correct statements for cash flow.

For more information about Cash Flow refer to the link:

https://brainly.com/question/10714011

The following is a list of various costs of producing T-shirts. Classify each cost as either a variable, fixed, or mixed cost for units produced and sold.
a. Ink used for screen printing Variable
b. Warehouse rent of $8,000 per month plus $0.50 per square foot of storage used Mixed
c. Thread Variable
d. Electricity costs of $0.038 per kilowatt-hour Variable
e. Janitorial costs of $4,000 per month Fixed
f. Advertising costs of $12,000 per month
g. Accounting salaries
h. Color dyes for producing different colors of T-shirts Variable
i. Salary of the production supervisor
j. Straight-line depreciation on sewing machines Fixed
k. Salaries of internal pattern designers
l. Hourly wages of sewing machine operators Variable
m. Property taxes on factory, building, and equipment Fixed
n. Cotton and polyester cloth
o. Maintenance costs with sewing machine company (the cost is $2,000 per year plus $0.001 for each machine hour of use.) Mixed
B) Magnolia, Inc. manufactures bedding sets. The budgeted production is for 31,800 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is 5,320 yards with the desired ending balance of 4,100 yards of material. If the material costs $6.80 per yard, determine the materials budget for the year.
$_______
C) Gleason invested $90,000 in the James and Kirk partnership for ownership equity of $90,000. Prior to the investment, land was revalued to a market value of $425,000 from a book value of $200,000. James and Kirk share net income in a 1:2 ratio.
a. Provide the journal entry for the revaluation of land. If an amount box does not require an entry, leave it blank.
b. Provide the journal entry to admit Gleason.
D) If the contribution margin ratio for France Company is 37%, sales were $413,000, and fixed costs were $106,000, what was the income from operations?
$152,810
$106,000
$37,448
$46,810
E) Cash and accounts receivable for Adams Company are provided below:
Current Year Prior Year
Cash $70,000 $50,000
Accounts receivable (net) 70,400 80,000
Based on this information, What is the amount and percentage of increase or decrease that would be shown with horizontal analysis?
Account Dollar Change Percent Change
Cash $ %
Accounts Receivable $
%

Answers

Answer:

A. Production and Sales Cost Classification:

Variable

a. Ink used for screen printing

c. Thread

d. Electricity costs of $0.038 per kilowatt-hour

h. Color dyes for producing different colors of T-shirts

k. Salaries of internal pattern designers

l. Hourly wages of sewing machine operators

n. Cotton and polyester cloth

Mixed

b. Warehouse rent of $8,000 per month plus $0.50 per square foot of storage used

o. Maintenance costs with sewing machine company (the cost is $2,000 per year plus $0.001 for each machine hour of use.)

Fixed

e.Janitorial costs of $4,000 per month Fixed

f. Advertising costs of $12,000 per month

g. Accounting salaries

i. Salary of the production supervisor

j. Straight-line depreciation on sewing machines

m. Property taxes on factory, building, and equipment

B. The materials budget for the year is:

= $1,505,384.

C. James, Kirk, and Gleason Partnership

Debit Land $225,000

Credit Land revaluation gain $225,000

To record land revaluation.

a. Debit Land Revaluation gain $225,000

Credit James, capital $75,000

Credit Kirk, Capital $150,000

To share the revaluation gain.

b. Debit Cash $90,000

Credit Gleason, Capital $90,000

To record Gleason's admission as a partner.

Debit James, Capital $30,000

Debit Kirk, Capital $60,000

Credit Cash $90,000

To reduce James and Kirk's capital accounts.

D. France Company

Income from operations = $46,810

E. Adams Company:

Account                               Dollar Change    Percent Change

Cash                                        $20,000                  40%

Accounts Receivable               ($9,600)                 (12%)

Explanation:

a) Data and Calculations:

A) Variable costs vary in total and are fixed per units.  Fixed costs vary per units but are fixed in total within the relevant production capacity.  Mixed costs have variable and fixed costs combined.

B) Magnolia, Inc.

Budgeted production of comforters for this year = 31,800

Materials required by each comforter = 7 yards

Total materials required for production =222,600 (31,800 * 7)

Beginning inventory = 5,320 yards

Ending balance = 4,100 yards

Total materials to be bought = 221,380 (222,600 + 4,100 - 5,320)

Material costs $6.80 per yard

Materials budget for the year = $1,505,384 (221,380 * $6.80)

$_______

C) Gleason invested $90,000 in the James and Kirk partnership for ownership equity of $90,000.

Land $225,000

Land revaluation $225,000

a. Land Revaluation $225,000

James, capital $75,000

Kirk, Capital $150,000

b. Cash $90,000 Gleason, Capital $90,000

James, Capital $30,000 Kirk, Capital $60,000 Cash $90,000

D) France Company

Contribution margin ratio = 37%

Sales $413,000

Contribution margin = $152,810 ($413,000 * 37%)

Fixed costs  $106,000

Income from operations = $46,810

 

E) Adams Company:

                                    Current Year   Prior Year

Cash                                 $70,000      $50,000

Accounts receivable (net) 70,400         80,000

Account                              Dollar Change    Percent Change

Cash                                               $20,000        40%

Accounts Receivable                     ($9,600)       (12%)

A skilled carpenter installed a roof on a new administrative building for a private not-for-profit free of charge. The not-for-profit would have had to pay $2,300 for this service if not donated. What entry should the not-for-profit make

Answers

Answer and Explanation:

The journal entry should the not for profit make is given below;

Capital Expenditures $2,300

     Contribution revenue $2,300

(Being the capital expenditure is recorded)

here the capital expenditure is debited as it increased the expenses and credited the contribution revenue as it also increased the revenue

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