Answer:
The break-even level of output is 120 units.
Explanation:
Since Total Cost formula is provided, we can use elements contained in the formulae to determine the break-even level of output.
The break-even level of output is the level of activity where a firm makes neither a Profit nor a Loss. In other words, Profit = $0
Step 1 : Collect data
So given :
TC = 2,400 + 100 Q
This means :
Fixed Costs = $2,400
Variable Costs = $100 per unit
Additional Information gives :
Selling Price per unit = $120
Step 2 : Determine the break-even level of output
Break even (units) = Fixed Costs ÷ Contribution per unit
where,
Contribution per unit = Selling Price - Variable Cost
= $20
thus,
Break even (units) = $2,400 ÷ $20
= 120 units
Conclusion :
The break-even level of output is 120 units.
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:
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
Bella Bags is a British company that sells luxury leather purses manufactured in London. Currently, its products are carried at high-end department stores all across Europe. The company prides itself on its exceptional customer service. However, the company has been criticized in the past for carrying only two designs of bags. There is currently growing market demand for high-end luxury accessories. Bella Bags faces fierce competition from established luxury brands. Which of the following best characterizes an actionable strategy for Bella Bags that works on reducing the company's weaknesses to avoid threats?
A) Reduce the threat of high competition by expanding the product line and offering more variety
B) Promote the company's exceptional customer service to leverage the increasing demand for luxury goods
C) Reduce the threat of high competition by promoting the company's narrow product offering
D) Reduce the threat of high competition by leveraging the increasing demand for luxury goods
Answer:
A
Explanation:
As a researcher, what would you do if you set to reject the null and found the null to be true?
In the event that the null hypothesis was true, I would report my results honestly and transparently. If my results did not support my expectations, my goal as a researcher would be to learn as much as possible from them.
The first thing I would do is to make my data and my statistical analysis error-free. If my results were influenced by outliers or other unusual patterns in the data, I would check for them. I would recheck the statistical methods I used to ensure that they were appropriate and correct for the type of data I collected.
Once I was confident that my data and analysis were correct, I would consider whether there were any other explanations for the null hypothesis.
Therefore, In the event that the null hypothesis was true, I would report my results honestly and transparently.
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Based on a predicted level of production and sales of 12,000 units, a company anticipates reporting operating income of $26,000 after deducting variable costs of $72,000 and fixed costs of $10,000. Based on this information, the budgeted amounts of fixed and variable costs for 15,000 units would be
Answer:
Fixed Cost = $10,000
Variable Costs = $90,000
Explanation:
Variable Cost per unit = $72,000 ÷ 12,000
= $6
Variable Costs at 15,000 units = $6 x 15,000
= $90,000
Fixed Cost (given) = $10,000
John believes his sales team's performance is due to outside forces, like economic and market factors. Which of the following best describes is John's locus of control?
a. External
b. Market driven
c. Internal
d. Based on labor trends.
Answer:
a. External
Explanation:
There are only two types of locus of control and these are internal and external. In this scenario, John's locus of control would be external. This is because John is connecting various external forces that he cannot control, to the performance of the sales team. This indicates an external locus of control. If John where to instead attribute something such as hard work and training to his sales team's perfomance, then that would be considered an internal locus of control.
Gotham City acquires $25,000 of inventory on November 1, 20X7, having held no inventory previously. On December 31, 20X7, the end of Gotham City's fiscal year, a physical count shows $8,000 still in stock. During 20X8, $6,500 of this inventory is used, resulting in a $1,500 remaining balance of supplies on December 31, 20X8.
Based on the preceding information, what would be the correct account balances for 20X7 if Gotham City used the purchase method of accounting for inventories?
Answer:
$25,000; $8,000
Explanation:
Based on the information given , we were told that they acquires the amount of $25,000 of inventory on NOVEMBER 1, 20X7, in which on DECEMBER 31, 20X7, a PHYSICAL COUNT shows $8,000 was still in stock which means wthat the CORRECT ACCOUNT BALANCES for 20X7 if Gotham City used the PURCHASE METHOD of accounting for INVENTORIES will be Expenditure of the amount of $25,000 and Inventory of supplies of the amount of $8000.
lannigan Company manufactures and sells a single product that sells for $450 per unit; variable costs are $270. Annual fixed costs are $800,000. Current sales volume is $4,200,000. Compute the current margin of safety in dollars for Flannigan Company
Answer:
$2,200,000
Explanation:
Margin of safety means by how much sales can fall before a firm starts making a loss.
Margin of safety = Current Sales - Break even sales
where,
Break even sales = Fixed Cost ÷ Contribution margin ratio
= $800,000 ÷ 0.40
= $2,000,000
therefore,
Margin of safety = $4,200,000 - $2,000,000
= $2,200,000
Asteria earned a $27,000 salary as an employee in 2020. How much should her employer have withheld from her paycheck for FICA taxes
Answer:
$2,070
Explanation:
Calculation to determine How much should her employer have withheld from her paycheck for FICA taxes
Social security tax 6.2%
Medicare tax which is 1.45%
Social security tax = $27,000 x 6.2%
Social security tax = $1,674
Medicare tax = $27,000 x 1.45%
Medicare tax =$391.5
FICA taxes Paycheck withheld= - $1,674 + $391.5
FICA taxes Paycheck withheld=$2,065.5
FICA taxes Paycheck withheld=$2,070 (Approximately)
Therefore How much should her employer have withheld from her paycheck for FICA taxes will be $2,070
A company purchased factory equipment for $350,000. It is estimated that the equipment will have a $35,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be:_________ a. $140,000 b. $84,000. c. $126,000 d. $75,600
Answer:
Annual depreciation= $126,000
Explanation:
Giving the following information:
Purchase price= $350,000
Useful life= 5 years
Salvage value= $35,000
To calculate the annual depreciation under the double-declining balance, we need to use the following formula:
Annual depreciation= 2*[(book value)/estimated life (years)]
Annual depreciation= 2*[(350,000 - 35,000) / 5]
Annual depreciation= $126,000
(f) Find the present value of an investment that will pay $3,000 at the end of Years 10, 11, and 12. Use a discount rate of 8%.
Answer:
PV= $3,867.67
Explanation:
Giving the following information:
Find the present value of an investment that will pay $3,000 at the end of Years 10, 11, and 12. Use a discount rate of 8%.
First, we will determine the future value of the payments:
FV= {A*[(1+i)^n-1]}/i
A= annual payment
FV= {3,000*[(1.08^3) - 1]} / 0.08
FV= $9,732.2
Now, the present value:
PV= FV / (1 + i)^n
PV= 9,732.2 / (1.08^12)
PV= $3,867.67
The calculation of WACC involves calculating the weighted average of the required rates of return on debt and equity, where the weights equal the percentage of each type of financing in the firm's overall capital structure.
(rstd, rps, rs, rd)
_______ is the symbol that represents the required rate of return on short-term debt in the weighted average cost of capital (WACC) equation.
Co. has $2.3 million of debt, $1 million of preferred stock, and $2.2 million of common equity. What would be its weight on debt?
a. 0.42
b. 0.18
c. 0.40
d. 0.16
Answer:
a. 0.42
Explanation:
Calculation to determine What would be its weight on debt?
First step is to calculate the Total firm capital
Total firm capital= $2.3 + $1 + $2.2
Total firm capital= 5.50 million.
Now let determine the weight on debt using this formula
Weight on debt= Debt in the firm/ Total firm capital
Let plug in the formula
Weight on debt = $2.3 million/ 5.50 million
Weight on debt = 0.4182.
Weight on debt=0.42 (Approximately)
Therefore What would be its weight on debt is 0.42
Delta Screen Corporation is currently operating at 60% of capacity and producing 6,000 screens annually. The normal selling price is $750 per screen. They recently received an offer from a company in Germany to purchase 2,000 screens for $500 per unit. Delta has not previously sold products in Germany. Budgeted production costs for 6,000 and 8,000 screens follow:Units Produced 6,000 8,000 Direct Materials Cost $ 750,000 $ 1,000,000Direct Labor Cost 750,000 1,000,000Variable Overhead 900,000 1,200,000 Fixed Overhead 1,200,000 1,200,00 Total Cost 3,600,000 4,400,000Full Cost per Unit 600 550Delta’s marketing manager believes that although the price offered by the German customer is lower than current price, the order should be accepted to gain a foothold in the German market. The production manager, however, believes that the order should be rejected because the unit cost is higher than the price offered.If the president of Delta were to call on you to resolve the difference in opinion, what would you recommend? Explain.What is the minimum price for the special order if Delta is operating at full capacity?
Answer:
a. I would recommend the the special order should be accepted.
b. The minimum price for the special order is the current selling price of $750.
Explanation:
a. If the president of Delta were to call on you to resolve the difference in opinion, what would you recommend?
Because the existing data's format and findings are deceiving, I would suggest to the president to let us perform a differential analysis before making a recommendation.
Note: See the attached excel file for a analysis of accepting the order.
In the attached excel file, the following calculation is done:
Special order revenue = Difference revenue = Units of special order * Special order price per unit = 2,000 * $500 = $1,000,000
Revenue with the special order = Revenue without the special order + Special order revenue = $4,500,000 + $1,000,000 = $4,500,000
From the differential analysis in the attached excel, it can be observed that accepting the order will increase profit by $200,000.
Therefore, I would recommend the the special order should be accepted.
b. What is the minimum price for the special order if Delta is operating at full capacity?
Since other sales opportunities has be forgone if the special order is accepted if Delta is operating at full capacity, the minimum price for the special order must be or is the current selling price of $750.
A company receives $176, of which $16 is for sales tax. The journal entry to record the sale would include a
Answer:
Explanation:
Cash 176
Sales revenue. 160
Sales tax payable 16
Because of their sharp quality text output and fast printing speeds, ___ printers are often preferred by businesses.
Answer:
Laser printer
Explanation:
Laser printers are quicker than inkjet printers (producing more pages per minute), generate higher-quality output (with some limitations), and are better suited for high-volume production. Laser printers produce significantly finer lines than inkjet printers, making them ideal for text, logos, and corporate information graphics.
Exercise 5-10 Lower of cost or market LO P2 Martinez Company's ending inventory includes the following items. Product Units Cost per Unit Market per Unit Helmets 27 $ 55 $ 59 Bats 20 83 77 Shoes 41 100 96 Uniforms 45 41 41 Compute the lower of cost or market for ending inventory applied separately to each product.
Answer:
Martinez Company
Ending inventory is:
= $8,806.
Explanation:
a) Data and Calculations:
Product Units Cost per Unit Market per Unit
Helmets 27 $ 55 $ 59
Bats 20 83 77
Shoes 41 100 96
Uniforms 45 41 41
Lower of cost or market value Valuation:
Product Units Cost per Unit Market per Unit LCM
Helmets 27 $ 55 $ 59 $1,485
Bats 20 83 77 1,540
Shoes 41 100 96 3,936
Uniforms 45 41 41 1,845
Total cost of ending inventory $8,806
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $27,861 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following
Deposit in transit 3,350
Outstanding checks 1,350
Answer: $29,861
Explanation:
In order to adjust the bank statement balance to the books, the following is done:
= Bank statement + Deposit in transit - Outstanding checks
= 27,861 + 3,350 - 1,350
= $29,861
To determine the net cash provided (used) by operating activities, it is necessary to analyze Group of answer choices the current year's income statement. a comparative balance sheet. additional information. all of these.
Answer:
All of these.
Explanation:
All of these are the correct answer because to determine the net cash from the operating activities, there is a requirement of the current year's income statement, additional information such as depreciation and amortization and a comparative balance sheet. In order to get cash from operating activities, the changes and non-cash capital, other non-cash adjustments, depreciation is added to the net income.
A project with an initial investment of $461,300 will generate equal annual cash flows over its 10-year life. The project has a required return of 8.1 percent. What is the minimum annual cash flow required to accept the project
Answer:
The minimum annual cash flow required to accept the project is:
= $63,883.17
Explanation:
a) Data and Calculations:
Initial investment cost of the project = $461,300
Project's estimated life = 10 years
Project's required return rate = 8.1%
The minimum annual cash flow required to accept the project is derived from an online financial calculator as follows:
N (# of periods) 10
I/Y (Interest per year) 8.1
PV (Present Value) 461300
FV (Future Value) 0
Results:
PMT = $63,883.17
Sum of all periodic payments = $638,831.69
Total Interest = $177,531.69
Explain the difference between the concepts of Business Management and Technology Management. Provide examples.
Answer:
Explanation:
There is a difference between business management and technology management.
Business management refers to managing the organization's business perspective so that the direct business objectives of the organization is served.
Business management involves managing the domain, employees, looking after the business processes of an organization, etc. whereas
While technology management is used to make the business process simple and convenient through various aspects like managing the technical aspect of each and every business process and that is possible by having details about the technical aspects that are involved in all the business process of the organization.
For an organization to be successful it should possess all the required management techniques that include the business and technical aspects both.
Today the way of doing business has changed a lot and hence the organizations need to be quite diligent and effective in order to sustain and remain competitive in the industry.
The following information is available for Jorgensen Company: a. The Cash Budget for March shows a bank loan of $10,000 and an ending cash balance of $48,000. b. The Sales Budget for March indicates sales of $120,000. Accounts receivable is expected to be 70% of March sales.
Answer:
Accounts receivable is
Explanation:
Expected accounts receivable is 70% of sales amount. The sales budget is $120,000 then accounts receivable will be $84,000. The rest of sales will be in cash, so the cash collection for the month of march will be $36,000. The new cash balance will be $36,000 + $48,000 = 84,000.
Required: Mr. Jones, eager to please the board of directors, requests you, as the newly appointed management accountant, to prepare appropriate statements highlighting the following: a) The standard production cost per Wallop (3) b) A detailed reconciliation statement of the standard gross profit with the actual gross profit for the month of May. The reconciliation statement should show all possible variances in as much detail as possible. Note: Where applicable, clearly label your answer as favourable (F), or unfavourable (U). Failure to do so will cause you to forfeit
Answer:
I don't understand what you wrote
Explanation:
please reply sir
_______________ skills, though developed through job training and work experience, are generally acquired during the course of your formal education.
a. Interpersonal
b. Technical
c. Conceptual
d. Communication
Answer:
D
Explanation:
Leisure Enterprise’s total cost of producing speedboats is given by TC = 10 Q 3 – 4 Q 2 + 25 Q + 500. On the basis of this information, the marginal cost of producing the 25th speedboat is:
Answer:
The marginal cost of producing the 25th speedboat is 18,575.
Explanation:
Note that the given Leisure Enterprise’s total cost (TC) of producing speedboats is correctly stated as follows:
TC = 10Q^3 - 4Q^2 + 25^Q + 500 …….………….. (1)
Where Q represents the quantity of speedboats produced.
To obtain the marginal cost (MC) of producing speedboats, equation (1) is differentiated with respect to Q as follows:
MC = dTC/dQ = 30Q^2 - 8Q + 25 ………………… (2)
Finding the marginal cost (MC) of producing the 25th speedboat implies that Q = 25.
Substituting Q = 25 into equation (2), we have:
MC = (30 * 25^2) - (8 * 25) + 25 = 18,575
Therefore, the marginal cost of producing the 25th speedboat is 18,575.
When Kimberly finds out that members of her team are using unethical practices to make sales and obtain information, her solution is to hold a Code of Ethics workshop. Is this an appropriate response for her to have?a. Yes; as the manager of these two employees, she is responsible for making sue they know what the expectations of behavior are. b. Yes; she is not allowed to take any disciplinary actions. c. No; she should fire both of them immediately. d. No; it is not her responsibility to educate these employees. They should be in charge of deciding their own ethical behavior.
Answer:
The answer is "Option a".
Explanation:
If Kimberly discovers if her team members use immoral techniques in sales and information, then can organize a workshop on the code of ethics. It is responsible for making sure that he knows the standards of conduct, which is the proper answer for her supervisor of the 2 employees. This code of ethics focuses on people and organizations' values and standards for governing their decisions, as well as on distinguishing the difference between right and wrong.
Identify the following costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher: a. Staples used to bind magazines b. Wages of printing machine employees c. Maintenance on printing machines
Answer:
Staples used to bind magazines
Direct materials
Wages of printing machine employees
Direct Labor
Maintenance on printing machines
Factory Overhead
Paper used in the magazine
Direct Materials
Explanation:
The given answers above are correctly grouped based on Direct Materials, Factory Overhead, and Direct Labor.
An analyst prepares the following common-size income statements for Perez Company: 20X1 20X2 20X3 Sales 100% 100% 100% Cost of goods sold 50% 52% 53% Selling and administrative expense 16% 12% 9% Interest income 4% 4% 4% Pretax income 30% 32% 34% Income tax expense 15% 16% 17% Net income 15% 16% 17% Based only on this information, Perez's improving net profit margin is most likely a result of:
Answer:
Perez Company
Based only on this information, Perez's improving net profit margin is most likely a result of:
Decreasing Selling and Administrative Expenses over the years.
Explanation:
a) Data and Calculations:
Perez Company
Common-size Income Statements for three years:
20X1 20X2 20X3
Sales 100% 100% 100%
Cost of goods sold 50% 52% 53%
Selling and administrative expense 16% 12% 9%
Interest income 4% 4% 4%
Pretax income 30% 32% 34%
Income tax expense 15% 16% 17%
Net income 15% 16% 17%
b) A review of the common-size income statement of Perez Company shows that its selling and administrative expenses continued to reduce an average of 300 percentage points year on year. This reduction can be clearly seen in its improved net income, which also continued to improve year on year. However, the improvement was hampered by increasing income tax expense, which witnessed the same increase.
The independent operational test and evaluation agency is responsible for the establishment of Critical Technical Parameters (CTPs).
A. True
B. False
Answer:
B. False
Explanation:
The given statement is false as the management office regarding the program created the system to be responsible for the Criticial technical parameter establishment not the independent operational test and the evaluation agency.
So the option b is correct
Hence, the option a is wrong
Networked organizations are so closely linked online that each can find out what the others are doing instantaneously, as an event takes place. These organizations operate
Answer: b. in real time
Explanation:
When something is said to operate in real time, it means that is is happening instantaneously. Networked organizations that are so closely linked that their actions are seen instantaneously are therefore operating in real time.
These organizations can be in multiple countries but doing work on a similar platform. For instance, people around the world could be working on a single Go-0gle Sheets file and seeing the changes they all make in real time.
Networked organizations are so closely linked online that each can find out what the others are doing instantaneously, as an event takes place. These organizations operate in real-time. Hence option B is correct.
The key characteristic of networked organizations is their ability to access and exchange information rapidly, allowing them to respond quickly to changes and make informed decisions.
In networked organizations, individuals, teams, departments, or even entire organizations are connected through digital networks and communication platforms.
This enables them to share data, knowledge, and resources in real-time, fostering collaboration, coordination, and synergy among different entities.
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Networked organizations are so closely linked online that each can find out what the others are doing instantaneously, as an event takes place. These organizations operate
a. as inverted organizations.
b. in real time
c. as digital natives
A monetary growth rule means that :__________a) the Fed will raise interest rates if it thinks the economy is growing faster than potential. b) the Fed will lower interest rates if it thinks a recession is on the horizon. c) the money supply should grow in response to economic conditions. d) the money supply should grow at a constant rate.
Answer:
d) the money supply should grow at a constant rate.
Explanation:
The Federal Reserve System (popularly referred to as the 'Fed') was created by the Federal Reserve Act, passed by the U.S Congress on the 23rd of December, 1913. The Fed began operations in 1914 and just like all central banks, the Federal Reserve is a United States government agency.
Generally, the Fed controls the issuance of currency in United States of America: it promotes public goals such as economic growth, low inflation, and the smooth operation of financial markets.
Monetary growth rule is a theory that was proposed by Friedman and it states that the Federal Reserve System (Fed) should be required to set or target the money supply growth rate to be equal to the growth rate of Real gross domestic product (GDP) each year and leaving the price level of goods and services unchanged.
Basically, this growth rate of gross domestic product (GDP) is usually set between 1% and 4%. Also, the monetary growth rule is also referred to as the K-Percent rule.
Hence, a monetary growth rule means that the money supply should grow at a constant rate.
Typical cash inflows of a capital investment project include all of the following EXCEPT: A. projected incremental revenues from the project. B. cost reductions in operating costs. C. the salvage value of the investment at the end of its useful life. D. tax savings generated by depreciation expense. E. the original cost paid for the capital investment.
Answer:
E
Explanation:
Cash inflows are cash increases in a project
they include :
projected incremental revenues from the project.
cost reductions in operating costs.
the salvage value of the investment at the end of its useful life
tax savings generated by depreciation expense.
Cash outflows reduces the cash available in a project. They are usually subtracted
they include
the original cost paid for the capital investment.
working capital investment
A project is profitable if cash inflow exceeds cash outflow
Typical cash inflows of a capital investment project do not include the original cost paid for the capital investment.
A capital investment project is regarded as a project that aims at increasing the assets of the business. The inflows in these projects are derived when cash outflows are subtracted from revenues and cash flows of the project.
Therefore, the original cost that would be paid for the capital investment becomes part of cash outflow from the business, which decreases the total availability of cash.
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