Answer:
Results are below.
Explanation:
To calculate the direct material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (13.2 - 13.1)*4,800
Direct material price variance= $480 favorable
Actual price= 62,880 / 4,800= 13.1
To calculate the direct material quantity variance, we need to use the following formula:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (4.4*700 - 4,800)*13.2
Direct material quantity variance= $22,704 unfavorable
The third party who checks annual financial statements to ensure that they are prepared according to Ceterally Accepted Accounting Principles (GAAP) and verifies that the information reported is reliable is the :__________.
A) NYSE Enforcement Board
B) Accounting Standards Board
C) Securities and Exchange Commission (SEC)
D) auditor
Answer:
auditor
Explanation:
Auditors check the financial statements to ensure they are in compliance with GAAP (Generally Accepted Accounting Principles)
According to your reading material, one cause of excessive pressure is a/an __________.
a. overestimation of the severity of one’s own problems
b. lack of sleep
c. lack of self-confidence
d. lack of self-esteem
Answer: D
Explanation: A lack of self-esteem can lead to reliance others advice which can also lead to excessive pressure by the people your getting advice from.
A company is offering perpetual preferred stock (its dividend payments last forever) with a fixed annual dividend of $100. If your required rate of return on this investment is 12 percent, what is the value of each share
Answer:
833.33
Explanation:
The fixed annual dividend is $100
The required rate of return on this investment is 12%
Therefore the value for each share can be calculated as follows
= 100/(12/100)
= 100/0.12
= 833.33
Hence the value for each share is 833.33
In a process operation, each process has a separate department which will accumulate costs for each of the following: Multiple select question. administrative direct labor overhead sales direct materials
Answer:
overhead
direct labor
direct materials
Explanation:
Process operations can be regarded as process manufacturing it can be explained as mass production method that is been followed when producing products following a continuous flow.
It can be regarded conveyer belt system which brings about production of identical as well as standardized item with fast rate as regards the speed. It should be noted that In a process operation, each process has a separate department which will accumulate costs for ;
✓overhead ( ongoing costs that is gotten in operation of a business)
✓direct labor
✓direct materials
Please tell whether inventory is beneficial or not for businesses with a large number of customers? Why?
Answer:
I don't know how it is possible
Potatoes and wheat output (tons per day)
Country Potatoes Wheat
United States 4 2
Ireland 3 1
The United States has a comparative advantage in producing: __________
a. wheat
b. neither
c. potatoes
d. both
Answer:
c. potatoes
Explanation:
The computation is shown below:
Opportunity cost of producing 1 tons of wheat is
for US = 4 ÷ 3 = 1.33 tons of potatoes
for Ireland = 2 ÷ 1 = 2 tons of potatoes
As the opportunity cost is higher in united states of potatoes so here the united stated should be comparative advantage in generating potatoes
ABC Bank requires a 20% down payment on all of its home loans. If a house
is priced at $145,000, what is the amount of the down payment required by
the bank?
A. $29,000
B. $290,000
C. $14,500
D. $18,000
A firm wants to sponsor an engineering lab. This requires $2.5M to construct the lab, $1.2M to equip it, and $600,000 every 5 years for new equipment. What is the required endowment if the university will earn 6% interest on funds
Answer:
$5.47M
Explanation:
The required endowment from the sponsor is the total costs required immediately plus the present value of the new equipment that needs to be purchased every five years as shown thus:
Immediate costs=cost of lab construction+cost of equipping the lab
Immediate costs=$2.5M+$1.2M
Immediate costs=$3.7M
Present value of every 5 years equipment cost=cost/(1+interest)^n-1
interest rate=6%
n=5 years(the frequency of incurring the cost)
PV=$0.60M/(1+6%)^5-1
PV=$0.60M/0.33822558
PV=$1.77M
required endowment =$3.70M+$1.77M
required endowment =$5.47M
A truck acquired at a cost of $195,000 has an estimated residual value of $10,200, has an estimated useful life of 56,000 miles, and was driven 5,000 miles during the year. Determine the following:
a. The depreciable cost $___________
b. The depreciation rate $__________ per mile
c. The units-of-activity depreciation for the year $__________
Answer:
a. $184,800
b. 3.3 per miles
c. 16,500
Explanation:
(a) Calculation to determine The depreciable cost
Depreciable cost =Cost - estimated residual value
Depreciable cost=$195,000- $10,200
Depreciable cost=$184,800
(b) Calculation to determine The depreciation rate
Depreciation rate = $184,800/useful life 56,000 miles
Depreciation rate =3.3per mile
(c) Calculation to determine The units-of-activity depreciation for the year
Units-of-activity depreciation =3.3per mile*5,000 miles
Units-of-activity depreciation=16,500
Therefore The units-of-activity depreciation for the year is 16,500
Cosmo has just made his dream come true of buying the property that his restaurant occupies. His excitement is short lived, however. He now realizes that he needs to come up with the extra money for the mortgage. Cosmo decides to rent out the storefront next to the restaurant for added income. After acquiring the property, Cosmo shifted his focus onto which aspect of goal-setting theory
Answer:
Realistic aspect
Explanation:
Considering the scenario described in the question it can be concluded that Cosmo shifted his focus onto which REALISTIC aspect of goal-setting theory.
This is because following Cosmo making his dream come true of buying the property that his restaurant occupies, the idea that he could rent out the storefront next to the restaurant for added income is a REALISTIC Aspect of Goal Getting.
This implies that Cosmo is more realistic in terms of his financial abilities and willingness to work toward the goal of paying off the mortgage loan
A pure monopoly without competitors: Group of answer choices Faces a perfectly elastic demand curve for its product. Cannot influence the price of its
Answer:
d
Explanation:
Here is the complete question
A pure monopoly firm
Select one:
a. faces a perfectly elastic demand curve for its product.
b. will always be able to earn more profit when it raises price.
c. will always earn economic profit, no matter what the level of demand for its product.
d. can influence the price of its product by controlling output
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
A natural monopoly occurs due to the high start-up costs or a large economies of scale.
Natural monopolies are usually the only company providing a service in a particular region
Characteristics of natural monopolies
1. they have a large fixed cost
2. The firms have a low marginal cost
3. They occur naturally through the free market. It does not occur by government regulation or any other force
The demand curve for a pure monopoly is usually inelastic.
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
A monopoly can can influence the price of its product by controlling output
A monopoly will not always earn economic profit no matter the level of output
1. Prepare a general ledger having T-accounts for Accounts Receivable, Sales, and Sales Returns and Allowances. Post these entries to both the general ledger and the accounts receivable ledger. General Ledger Accounts Receivable Sales End.Bal End.Bal Accounts Receivable Subsidiary Ledger Ski Shop Sales Returns and Allowances End.Bal Welcome Enterprises Zia Natara End.Bal End.Bal Vail Company recorded the following selected transactions during November Current Year Debit Credit 5,238 Date General Journal Nov. 5 Accounts Receivable-Ski Shop Sales 5,238 10 Accounts Receivable-Welcome Enterprises 2,780 Sales 2,780 13 Accounts Receivable-Zia Natara 1,630 Sales 1,630 21 Sales Returns and Allowances 421 Accounts Receivable-Zia Natara 421 30 Accounts Receivable-Ski Shop 5,796 Sales 5,796
2 . Prepare a schedule of accounts receivable VAIL COMPANY Schedule of Accounts Receivable November 30, Current Year Total
Answer:
Vail Company
1. T-accounts:
a. General Ledger
Accounts Receivable
Date Account Titles Debit Credit
Nov. 5 Sales 5,238
Nov. 10 Sales 2,780
Nov. 13 Sales 1,630
Nov. 21 Sales Returns and Allowances 421
Nov. 30 Sales 5,796
Nov. 30 Balance 15,0232
Sales
Date Account Titles Debit Credit
Nov. 5 Accounts Receivable-Ski Shop 5,238
Nov. 10 Accounts Receivable-
Welcome Enterprises 2,780
Nov. 13 Accounts Receivable-Zia Natara 1,630
Nov. 30 Accounts Receivable-Ski Shop 5,796
Nov. 30 Balances 15,444
Sales Returns and Allowances
Date Account Titles Debit Credit
Nov. 21 Accounts Receivable-Zia Natara 421
b. Accounts Receivable Ledger:
Ski Shop
Date Account Titles Debit Credit
Nov. 5 Sales 5,238
Welcome Enterprises
Date Account Titles Debit Credit
Nov. 10 Sales 2,780
Zia Natara
Date Account Titles Debit Credit
Nov. 13 Sales 1,630
Nov. 21 Sales Returns and Allowances 421
Ski Shop
Date Account Titles Debit Credit
Nov. 30 Sales 5,796
Explanation:
a) Data and Analysis:
Nov. 5 Accounts Receivable-Ski Shop 5,238
Sales 5,238
Nov. 10 Accounts Receivable-Welcome Enterprises 2,780
Sales 2,780
Nov. 13 Accounts Receivable-Zia Natara 1,630
Sales 1,630
Nov. 21 Sales Returns and Allowances 421
Accounts Receivable-Zia Natara 421
Nov. 30 Accounts Receivable-Ski Shop 5,796
Sales 5,796
Botox Facial Care had earnings after taxes of $282,000 in 20X1 with 200,000 shares of stock outstanding. The stock price was $81.80. In 20X2, earnings after taxes increased to $418,000 with the same 200,000 shares outstanding. The stock price was $94.00.
Required:
a. Compute earnings per share and the P/E ratio for 20X1.
b. Compute earnings per share and the P/E ratio for 20X2.
c. Why did the P/E ratio change? (
Answer:The earnings per share and The P/E ratio for 20X1 is $1.41 and $58.01 respectively.
The earnings per share and The P/E ratio for 20X2 is $2.09 and $44.976 respectively.
Explanation:
a. Earning per shares = Earning after Taxes / total Shares outstanding
= $282,000/200,000
= $1.41
Therefore, The earnings per share for 20X1 is $1.41
P/E RATIO = Price Per shares/Earning per shares
= $81.80/$1.41
= $58.01
Therefore, The P/E ratio for 20X1 is $58.01
b. Earning per shares = Earning after Taxes / total Shares outstanding
= $418,000/200,000
= $2.09
Therefore, The earnings per share for 20X2 is $2.09
P/E RATIO = Price Per shares/Earning per shares
= $94.00/$2,09
= $44.976
Therefore, The P/E ratio for 20X2 is $44.976
c.The P/E ratio changed from $58.01 to $44.976 because of the change in earnings per share and the stock price per share.
Macroeconomics is best defined as the study of
how people make decisions about operating businesses.
the overall operation of the national and global economy.
how the government makes decisions about regulating businesses.
how scarce resources are used by households and businesses.
the study of the interaction of supply and demand.
2.
Mike asked Rachael to go to the beach with him. Rachael knew she should stay home and study for her Macroeconomics exam but felt she could spend some time doing both. In the past, she had always studied about five hours for her exams but today she studied for only two hours. Her normal grade of an A fell to a B. What was the opportunity cost of going to the beach?
The B she received on the exam.
The 2 hours she studied.
The 3 hours she spent at the beach.
The 3 hours she could have spent studying.
The 5 hours she spent at the beach.
3.
When two variables have an inverse relationship, then
if A increases, B increases.
if B increases, A is unchanged.
if A increases, B is unchanged.
the slope of the graph is positive.
the slope of the graph is negative.
4.
When two variables have a direct relationship, then
if A decreases, B increases.
if B decreases, A is unchanged.
if A increases, B is decreases.
the slope of the graph is positive.
the slope of the graph is negative.
5.
The production possibilities curve
graphically illustrates the concept of absolute advantage.
graphically illustrates the concept of scarcity.
allows us to see the concept of absolute advantage.
shows the opportunity cost between all goods and services in an economy.
shows the relationship between absolute and comparative advantage.
6.
A production possibilities curve that is concave or bowed out from the origin represents
increasing opportunity cost.
decreasing opportunity cost.
constant opportunity cost.
zero opportunity cost.
static opportunity cost.
Answer:
1. the overall operation of the national and global economy.
2. The B she received on the exam.
3. the slope of the graph is negative.
4. the slope of the graph is positive.
5. graphically illustrates the concept of scarcity.
6. increasing opportunity cost.
Explanation:
1. Macroeconomics is best defined as the study of the overall operation of the national and global economy.
Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.
2. The opportunity cost of going to the beach is the "B" grade she received on the exam.
In Economics, opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.
Thus, the value of the opportunities lost (scoring an "A" grade) by going to the beach is the opportunity cost of her choice.
3. When two variables have an inverse relationship, then the slope of the graph is negative.
An inverse relationship can be defined as a relationship between two variables, in which an increase in the value of one variable leads to a decrease in the value of the other variable i.e as the value of one variable becomes large, the value of the other variable becomes small.
4. When two variables have a direct relationship, then the slope of the graph is positive.
A positive relationship or correlation can be defined as the relationship between two variables in which there exist a direct relationship between them i.e as one variable increases, the other increases and vice-versa.
5. The production possibilities curve graphically illustrates the concept of scarcity.
The production possibilities curve (PPC) is also known as the production possibilities frontier (PPF) and its a curve which illustrates the maximum (best) combinations of two products that can be produce in an economy if they both depend on these factors;
1. Technology is fixed.
2. Resources are fixed.
6. A production possibilities curve that is concave or bowed out from the origin represents increasing opportunity cost.
The production possibilities curve (PPC) is depicted graphically as an arc, by representing one good on the y-axis and the other on the x-axis.
As a business owner, you find that your resource prices are increasing often. Because these costs are rising, you find it necessary to change your prices frequently. This best describes:
a. future price uncertainty.
b. menu costs.
c. money illusion.
d. hyperinflation.
e. a price confusion problem.
Answer:
The right answer is Option b (menu costs).
Explanation:
Menu expenses or costs would be the expenses a company entails if it modifies its pricing often, the most important approach to pay for the menu would be to keep particular pricing persistent.And that if an organization employee regularly changes significantly pricing owing to an improvement throughout commodity price marketing expenses are involved.The other four choices are not connected to the given query. So the above is the right approach.
How will forgoing traditional advertising in favor of a social media campaign using various social media technologies help Slice of Life Pizze?
A. by allowing customers to search for Slice of Ufe Pizza's products more easily
B. by helping build connections between Slice of Life Pazand its customers
C. by helping Slice of Life Pizza establish an internet presence
D. by allowing Slice of Life Pizza capture customer Information
E. by helping Slice of Life Pizza appear more 'woke to customers
Answer: B. by helping build connections between Slice of Life Pizza and its customers
Explanation:
Traditional marketing involves push advertising which means that the advertising is simply shown to people and their input is not considered. For instance, advertising using newspapers and television.
Social media campaigns on the other hand, connect companies to their customers as customers will be able to engage the company through comments and the like. Customers would feel like they are closer to the company because they will be able to interact with them and express grievances or suggestions.
The traditional advertising in favor of a social media campaign using various social media technologies help Slice of Life Pizze by helping build connections between Slice of Life Pazand its customers.
According to this question, we are to discuss about how Life Pizze is been helped by campaign using various social media technologies.
As a result of this , we can see that , it help Life Pizze by helping build connections between Slice of Life Pazand its customers, hence great sales.
Therefore, option B is correct.
Learn more about traditional advertising at;
https://brainly.com/question/13171394
Mrs. Dill is planning on baking cakes for a summer festival. In order to do this, she needs to spend $15 on new equipment to bake the cakes, plus she estimates that it will cost her 5 cents for every cake that she bakes. If x is the number of cakes that she makes, what is the cost function C(x)?a. C(x) = 15 + 0.5x.b. C(x) =15 + 5x.c. C(x) = 5 + 15x.d. C(x) = 15 +0.05x.
Answer: d. C(x) = 15 +0.05x.
Explanation:
The Cost function for the cake will be the sum of the fixed and variable costs that Mrs. Dill will incur per cake baked.
Fixed cost = $15
Total Variable cost = Number of cakes baked * variable cost per cake
= x * 5 cents
= x * 5 cents / 100 cents in a dollar
= 0.05x
Cost function is therefore:
= 15 + 0.05x
How does a parent perform the functions of organizing in management?
Answer:
I'll assume that the term "parent" here means parent in the conventional term as in father, mother, and children.
With this in mind, parents have the responsibility of organising the family which include their children and the affairs of the house.
Therefore, a parent performs the functions of organizing in management by:
1. Guiding their wards in management principles
2. Educating them in what they should and shouldn't do.
The statement of cash flows reports:_______ a) Changes in equity. Equity, net income, and dividends. b) Cash inflows and cash outflows for an accounting period. c) Revenues, gains, expenses, and losses. d) Assets, liabilities, and equity.
Answer:
b. Cash inflows and cash outflows for an accounting period.
Explanation:
The cash flows statement reported the cash inflows and cash outflows of the company. It includes three kinds of activity i.e. operating, investing and financing. Here cash inflows means the cash is come so the same is to be added and cash outflow means the cash is gone so the same is to be deducted
Therefore the option b is correct
Many experts believe that marketing is the most important function in a company. Discuss the reasons this is a true statement. Discuss the reasons this is not a true statement.
Solution :
Marketing is considered as an important function in a company.
Marketing is an important function in any organization as it allows the business to maintain a long-lasting and an ever-present relationships with the audience. It increase the brand value and generates revenue for the organization.
Marketing is not considered as an important function in a company.
Besides marketing there are other function as well which are important for an organization. The human resource department is an important function which maintains the relationship between the employees and the management. It works for the welfare of its employees which is considered as asset to the organization.
Also attention should be given to manufacture a good product seeing the demand in the market that can be easily available and usable by the customer. More research should be done to develop a product that is best for its consumers.
Suppose that American firms claim that protectionism in Canada is on the rise as the Canadian government attempts to protect its infant industries. This protectionism will cause the greatest harm to Group of answer choices
Answer:
manufacturers who export to Canada.
Explanation:
From the question we are informed about an American firms claim that uses protectionism in Canada is on the rise as the Canadian government attempts to protect its infant industries. This protectionism will cause the greatest harm to manufacturers who export to Canada.
Protectionism can be regarded as economic policy that is used in restriction of imports from other countries using some methods and measures, these measures could be tariffs on imported goods as well as import quotas and some government regulations. This is usually create economic crises such as Great Depression.
Gabriele Enterprises has bonds on the market making annual payments, with nine years to maturity, a par value of $1,000, and selling for $978. At this price, the bonds yield 7.4 percent. What must the coupon rate be on the bonds
Answer:
7.06%
Explanation:
The computation of the coupon rate is given below:
Given that
FV is $1,000
PV is $978
NPER is 9
RATE is 7.4%
The formula is given below:
=PMT(RATE,NPER,-PV,FV,TYPE)
After applying the above formula, the PMT is $70.57
Now the coupon rate is
= $70.57 ÷ $1,000
= 7.06%
You are in desperate need for cash to pay your water bill so you head to the check-cashing store down the street. They offer to lend you $200 now but you must leave a postdated check of $212 to be cashed in 7 days. What is the effective annual rate of this short-term loan?
Answer:
1969.6%
Explanation:
The computation of the effective annual rate is given below;
Given that
It is been charged $12 for $200 loan for 7 days
So for 7 days,
the nominal interest rate is is
= 12 ÷ 200 × 100
= 6%
Now
(1+r) = (1+0.06)^{52}
(1+r) = 20.696
r = 19.696
= 1969.6%
Allowance for Doubtful Accounts has a credit balance of $500 at the end of the year (before adjustment), and uncollectible accounts expense is estimated at 2% of sales. If sales are $600,000, the amount of the adjusting entry to record the provision for doubtful accounts is:______.a. $12,500.b. $11,500.c. $12,000.d. None of these answers are correct.
Answer:
$12,000
Explanation:
Calculation to determine what the amount of the adjusting entry to record the provision for doubtful accounts is
Using this formula
Provision for doubtful accounts =Sales *Uncollectible accounts expense estimated percentage of sales
Let plug in the formula
Provision for doubtful accounts = 2% × $600,000
Provision for doubtful accounts=$12,000
Therefore the amount of the adjusting entry to record the provision for doubtful accounts is $12,000
A partial list of a corporation's accounts shows the following account balances: Retained earnings, $375,000 Treasury stock—common, $20,000 Paid-in capital in excess of par value—common, $60,000 Treasury stock—preferred, $20,000 Common stock, $200,000 Preferred stock, $175,000 Paid-in capital in excess of par value—preferred, $60,000 How much is total stockholders' equity?
Answer:
Stockholders' Equity
Common stock $200,000
Preferred stock $175,000
Paid-in capital in excess of par value
Common stock $60,000
Preferred stock $60,000
Retained earnings $375,000
Treasury Stock
Common stock -$20,000
Preferred stock -$20,000
Total stockholders' equity $830,000
Express net income as a common-size percentage using the following data.
Sales $45,000
Cost of goods sold $29,340
Gross profit from sales $15,660
Operating expenses $10,800
Net income $4,860.
a. 100 percent
b. 31 percent
c. 12 percent
d. 10.8 percent
Answer:
i think the answers D 10.8 percent
Tip Top Painting Company has the following production data for March: Beginning work in process inventory, 2,000 units that are 30% complete for conversion costs Units completed and transferred out, 44,000 Units in ending work in process inventory, 9,000 that are 80% complete for conversion costs Materials are added only at the beginning of the process. What is the equivalent units of production during May for direct materials if the FIFO method is used?
Answer: 51000 units
Explanation:
The equivalent units of production during May for direct materials if the FIFO method is used will be calculated thus:
Units completed and transferred out = 44,000 Units
Less: Beginning work in process inventory = 2,000
Balance = 42000
Then, the Equivalent units of materials will be:
Balance = 42000
Add: Units in ending work in process inventory = 9,000
Equivalent units of materials = 51,000 units
Cavy Company estimates that the factory overhead for the following year will be $1,470,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 40,000 hours. The machine hours for the month of April for all of the jobs were 4,780.
Required:
Prepare the journal entry to apply factory overhead.
Answer and Explanation:
The journal entry to record the factory overhead is given below:
Predetermined Overhead rate is
= Estimated overhead ÷ Estimated machine hours
= $1,470,000 ÷ 40,000
= $36.75 per mh
Now journal entry is
Work in Process $175,665
To Factory Overhead $175,665 (4780 × 36.75)
(Being the factory overhead applied is recorded)
Here work in process is debited as it increased the assets and credited the factory overhead as it decreased the expense
A business purchases equipment by paying in cash and issuing a note payable of . Which of the following occurs? A. Cash is credited for , Equipment is credited for , and Notes Payable is debited for . B. Cash is credited for , Equipment is debited for , and Notes Payable is credited for . C. Cash is debited for , Equipment is debited for , and Notes Payable is credited for . D. Cash is debited for , Equipment is credited for , and Notes Payable is debited for .
Answer: Cash is credited for, Equipment is debited for and Notes Payable is credited for.
Explanation:
Let's assume the business purchases equipment by paying $5000 in cash and then issued a note payable of $15000.
Then, the journal entry will be:
Debit Equipment $20000
Credit Cash ($20000 - $15000)=$5000
Credit Note payable $15000
A very accurate estimate that is formed only after most design work is complete:_________
Definitive estimate
Parametric estimate
Feasibility estimate
Ballpark estimate
Answer:
Definitive estimate
Explanation:
The definitive estimate shows the most accurate or correct estimation for the amount of work and the resources required for finishing the project. It is the estimate in which the organization commits to an order to the baseline
So as per the given situation, the accurate estimated i.e. should be created only after most design work is finished is known as the definitive estimate
