Wang Co. manufactures and sells a single product that sells for $540 per unit; variable costs are $324 per unit. Annual fixed costs are $836,000. Current sales volume is $4,290,000. Management targets an annual pre-tax income of $1,215,000. Compute the unit sales to earn the target pre-tax net income.

Answers

Answer 1

Answer: 9,495 units

Explanation:

First find the contribution margin:

= Sales price - Variable cost

= 540 - 324

= $216 per unit

The unit sales required can be calculated by the formula:

= (Annual pre-tax income target + Fixed cost) / Contribution margin

= (1,215,000 + 836,000) / 216

= 9,495.37 units

= 9,495 units


Related Questions

Calculate the total Social Security and Medicare tax burden on a sole proprietorship earning 2020 profit of $300,000, assuming a single sole proprietor with no other earned income.

Answers

Answer: $25,802.70

Explanation:

Social security

Social security rates in 2020 for a single sole proprietor is 12.40% on the first $137,700:

= 12.40% * 300,000

= $17,074.80

Medicare Tax

First you need to remove a deduction of 7.65% from the income:

= 300,000 * (1 - 7.65%)

= $277,050

Medicare tax is 2.90% of this adjusted amount in addition to 0.9% for any amount above $200,000:

= (2.90% * 277,050) + (0.9% * (277,050 - 200,000))

= 8,034.45 + 693.45

= $8,727.90

Total Social security and Medicare:

= 17,074.80 + 8,727.9

= $25,802.70

At the beginning of the period, the Cutting Department budgeted direct labor of $125,000, direct materials of $151,000 and fixed factory overhead of $11,800 for 8,000 hours of production. The department actually completed 10,600 hours of production. What is the appropriate total budget for the department, assuming it uses flexible budgeting? Round hourly rates to two decimal places. Round interim calculations to two decimal places. Round your final answer to the nearest dollar. a.$381,335 b.$377,606 c.$291,635 d.$287,800

Answers

Answer:

the  appropriate total budget should be $377,500

Explanation:

The computation of the appropriate total budget should be given below:

Direct material ($151,000 ÷ 8,000 × 10,600) $200,075

direct labor ($125,000 ÷ 8,000 × 10,600) $165,625

fixed factory overhead $11,800

Total budget cost 377,500

Hence, the  appropriate total budget should be $377,500

This is the answer but the same is not provided in the given options

As operations manager, you are concerned about being able to meet sales requirements in the coming months. You have just been given the following production report: JAN FEB MAR APR Units produced 2,250 1,750 2,750 2,950 Hours per machine 318 194 393 315 Number of machines 5 7 6 5 Find the average of the monthly productivity figures (units per machine hour).

Answers

Answer: 2.81 per hour

Explanation:

Average monthly productivity = (January productivity + February productivity + March productivity + April productivity) / 4

January productivity:

= Units produced / ( Hours per machine * Number of machines )

=  2,250 / ( 318 * 2 )

= 3.537

February productivity:

= 1,750/ ( 194 * 4 )

= 2.255

March productivity:

= 2,750 / ( 393 * 3 )

= 2.332

April productivity:

= 2,950/ ( 315 * 3)

= 3.121

Average monthly productivity = (3.537 + 2.255 + 2.332 + 3.121)/ 4

 = 2.81 per hour

During a risk brainstorming session a team member identifies a risk. This particular risk does not seem to belong to any of the categories in you Risk Breakdown Structure (RBS). How should you respond

Answers

Answer:

Record it in the risk register, discuss potential responses and make a note to update the RBS.

Explanation:

Risk management is the process by which the management of an organisation identifies, assessed, and controls threats that may affect the company's capital or earnings.

The risks can be as a result of natural disasters, management error, financial uncertainty, or accidents.

In the given instance if a risk is not on any of the categories in you Risk Breakdown Structure (RBS), there is need to record it in the risk register, discuss potential responses and make a note to update the RBS.

Bengal Co. provides the following unit sales forecast for the next three months: July August September Sales units 4,800 5,500 5,360 The company wants to end each month with ending finished goods inventory equal to 25% of the next month's sales. Finished goods inventory on June 30 is 1,200 units. The budgeted production units for July are: Multiple Choice 6,000 units. 3,600 units. 6,175 units. 2,400 units. 4,975 units.

Answers

Answer: 4,975 units

Explanation:

Budgeted production in July = Sales forecast for July + Ending inventory for July - Beginning inventory

Beginning inventory = 25% of July sales

= 25% * 4,800

= 1,200 units

Ending inventory = 25% of August sales

= 25% * 5,500

= 1,375 units

Budgeted production is therefore:

= 4,800 + 1,375 - 1,200

= 4,975 units

In its closing financial statements for its first year in business, the Runs and Goses Company, had cash of $242, accounts receivable of $850, inventory of $820, net fixed assets of $3,408, accounts payable of $700, short-term notes payable of $740, long-term liabilities of $1,100, common stock of $1,160, retained earnings of $1,620, net sales of $2,768, cost of goods sold of $1,210, depreciation of $360, interest expense of $160, taxes of $312, addition to retained earnings of $508, and dividends paid of $218.

Calculate:

a. Return on equity = __________
b. Return on total assets = __________
c. Gross profit margin = __________
d. Net profit margin = __________

Answers

Answer:

return on equality

return on way

return on potos

i will want to know about questio n

i can help you in this field ok bro

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Return on Equity can be calculated as Return on Equity = Net Income / share holders equity. Return on Equity = 726 /2780. Thus, Return on Equity = 26.11%

What is Return on Equity?

The ratio of a company's net income to the equity of its shareholders is known as return on equity (ROE). A company's profitability and the effectiveness of its revenue generation are measured by its return on equity (ROE). A corporation is better at turning its equity financing into profits the higher the ROE.

Although average ratios and those deemed "good" and "poor" might differ significantly from industry to industry, a return on equity ratio of 15% to 20% is typically regarded as good. The ratio would be regarded as low at 5%.

b)Return on Asset Ratio

Return on Asset Ratio = Net Income / Total Assets

Return on Asset Ratio = 726/ 5,320

Return on Asset Ratio = 13.65%

c)Gross Profit Margin

Gross Profit Margin = Gross Profit / Net Sales

Profit Margin = 1,558/ 2,768

Profit Margin =56.29%

d)Net Profit Margin

Net Profit Margin = Net Income / Net Sales

Profit Margin = 726/ 2,768

Net Profit Margin =26.23%

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McKean Corporation authorized 500,000 shares of common stock in its articles of incorporation. On May 1, 2019, 100,000 shares were sold to the company's founders. However, on October 15, 2019, McKean repurchased 20,000 shares to settle a dispute among the founders. At this date, how many shares were issued and outstanding, respectively?

Answers

Answer:

100,000 shares and 80,000 shares

Explanation:

Calculation to determine how many shares were issued and outstanding, respectively

The shares that were issued will be 100,000 shares that were sold to the company's founders while the shares outstanding will be 80,000 shares Calculated as :

Shares outstanding=Shares issued -Shares repurchased

Shares outstanding=100,000 shares-80,000 shares

Shares outstanding =80,000 shares

Therefore the Number of shares that were issued and outstanding, respectively are:100,000 shares and 80,000 shares

Sybil, age 40, is single and supports her dependent parents who live with her, as well as her grandfather who is in a nursing home. She has AGI of $80,000 and itemized deductions of $8,000. What is the taxable income?

Answers

Answer:

$61,650

Explanation:

Calculation to determine the taxable income

Adjusted Gross Income (AGI) $80,000

Deduct Standard deduction (head of household) ($18,350)

Taxable Income $61,650

($80,000-$18,350)

Therefore the vthe taxable income is $61,650

On July 1, Sterns Co. acquired patent rights for $36,000. The patent has a useful life of 6 years and a legal life of 15 years.
Required:
Journalize the adjusting entry on December 31 to recognize the amortization. Refer to the Chart of Accounts for exact wording of account titles.

Answers

Answer:

Dr Amortization Expense $3,000

Cr Patents $3,000

Explanation:

Preparation of the journal adjusting entry on December 31 to recognize the amortization.

Dec. 31

Dr Amortization Expense $3,000

Cr Patents $3,000

(To record Amortization)

Amortization=(Patent rights/Useful life)*6/12

Amortization=($36,000/6)*6/12

Amortization=$3,000

(July 1 to Dec 31 =6months)

o What’s the Difference Between Non-Formal and Informal Learning

Answers

Answer:

I hope this will help you

trình bày các vai trò của đạo đức kinh doanh trong phát triển doanh nghiệp

Answers

Answer:

Explanation:

Trung thực: Tính trung thực trong đạo đức kinh doanh thể hiện ở chỗ không buôn bán, sản xuất những mặt hàng nhà nước cấm, không dùng các chiêu trò dối trá để đạt được lợi ích của mình, không trốn thuế, làm ăn phi pháp; không tham ô, hối lộ; trung thành chấp hành đúng quy định của pháp luật…

Tôn trọng con người: Tôn trọng con người bao gồm tôn trọng nhân viên, đối tác khách hàng, đối thủ cũng như tất cả những người làm việc cùng với mình

Đạo đức kinh doanh gắn liền lợi ích của công ty doanh nghiệp với lợi ích chung của khách hàng và trách nhiệm đối với xã hội

Tangerine, Inc. provides the following data: Surround, Inc. Comparative Balance Sheet Dec. 31, 20X9 Assets Current Assets: Cash and Cash Equivalents $29,000 Account Receivable, Net 31,000 Merchandise Inventory 53,000 Total Current Assets $113,000 Property, Plant, and Equipment, Net 120,000 Total Assets $233,000 Liabilities Current Liabilities: Accounts Payable $4000 Notes Payable 3000 Total Current Liabilities $7000 Long-term Liabilities 84,000 Total Liabilities $91,000 Stockholders' Equity Common Stock $30,000 Retained Earnings 112,000 Total Stockholders' Equity $142,000 Total Liabilities and Stockholders' Equity $233,000 Calculate the debt to equity ratio.

Answers

Answer:

The debt to equity ratio is 0.64.

Explanation:

The debt to equity ratio can be calculated using the following formula:

Debt to equity ratio = Total Liabilities / Stockholders' Equity ……………………. (1)

Where:

Total Liabilities = $91,000

Stockholders' Equity = $142,000

Substitute the relevant data into equation (1), we have:

Debt to equity ratio = $91,000 / $142,000 = 0.64

Therefore, the debt to equity ratio is 0.64.

A company like Motorola might establish a goal of reducing its inventory by 50 percent over the next year. To ensure that it reaches this goal, the company could monitor its progress on a quarterly or monthly basis. If the managers at Motorola discover that there is a danger of not achieving this goal, they can take corrective action to adjust for the deficiency. This is a description of the managers' ____ function.

Answers

Answer:

stfhgocovovohdj vbb

Explanation:

sryyy

Kluber, Inc. had net income of $911,000 based on variable costing. Beginning and ending inventories were 56,100 units and 54,200 units, respectively. Assume the fixed overhead per unit was $1.80 for both the beginning and ending inventory. What is net income under absorption costing?
a. $811,730
b. $904,160
c. $1,010,270
d. $907,580
e. $911,000

Answers

Answer:

Net operating income (absorption)= $907,580

Explanation:

Giving the following information:

Fixed overhead per unit= $1.80

Net income= $911,000 (variable costing)

Beginning inventory= 56,100 units

Ending inventory= 54,200 units

Under absorption costing, fixed manufacturing overhead is a product cost. We need to incorporate into the cost of goods sold the fixed overhead from beginning inventory and deduct the fixed overhead allocated into ending inventory.

Net operating income= 911,000

Less:

Fixed overhead beginning inventory= (1.8*56,100)

Add:

Fixed overhead ending inventory= (1.8*54,200)

Net operating income (absorption)= $907,580

From the list below, select the items that are classified as a materials activity. (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.)
Raw materials used
Raw materials beginning inventory
Raw materials purchases
Work in process beginning inventory
Goods manufactured
Direct labor used
Factor overhead used

Answers

Answer and Explanation:

The classification is as follows:

Under Materials activity  

Opening balance of Raw materials inventory

Purchase of the Raw materials purchases

Under Production activity:

OPening balance of Work-in process inventory

Raw material used

Direct labor used

Factory overhead used

Under Sales activity:

Goods manufactured

In this way it should be categorized

Hence, the same should be relevant

Standish Company manufactures consumer products and provided the following information for the month of February:

Units produced 131,000
Standard direct labor hours per unit 0.20
Standard fixed overhead rate (per direct labor hour) $2.50
Budgeted fixed overhead $65,000
Actual fixed overhead costs $68,300
Actual hours worked 26,350

Required:
a. Calculate the fixed overhead spending variance using the formula approach.
b. Calculate the volume variance using the formula approach.

Answers

Answer and Explanation:

The computation is shown below:

a. Fixed overhead Spending Variance is

= Budgeted Fixed Overhead - Actual Fixed overhead

= $65000 - $68300

= - $3300 (unfavorable)

b.

Fixed Overhead Volume Variance is

= (131000 × 0.20 × $2.50) - $65000

=$65500 - $65000

= $500 Favorable

In this way these can be determined

An individual taxpayer reports the following items for the current year: Ordinary income from Partnership A, operating a movie theater in which the taxpayer materially participates $70,000 Net loss from Partnership B, operating an equipment rental business in which the taxpayer does not materially participate (9,000) Rental income from building rented to a third party 7,000 Short-term capital gain from sale of stock 4,000 What is the taxpayer’s adjusted gross income for the year?

Answers

Answer:

$74,000

Explanation:

Calculation to determine the taxpayer’s adjusted gross income for the year

Taxpayer’s adjusted gross income=Net loss from Partnership B+Capital gain from sale of stock

Let plug in the formula

Taxpayer’s adjusted gross income=$70,000+ $4,000

Taxpayer’s adjusted gross income=$74,000

Therefore the taxpayer’s adjusted gross income for the year is $74,000

Janice has been invited to appear on a home improvement show for the remodel of her summerhouse in Maine. Janice asks Mary to wallpaper her house in anticipation of the home improvement, and requests expensive custom wallpaper and a very intricate design application, for which the wallpaper would cost $5000, plus labor. Mary, excited for a very large job for her solo business, orders the intricate wallpaper and blocks off her calendar for the amount of time it will take to complete the job. After the paper has been ordered, Mary asks some friends to be available to complete the job in time for the show. Janice is informed that she will not be on the show and notifies Mary that she will not need the wallpaper.
a. Does Mary have a case for re-imbursement?
b. Under what legal theory might she prevail and what are her damages, if any?
c. What ethical theories might be applicable?

Answers

Answer:

sorry I don't know.

Explanation:

Yes, Mary has a legal cause of reimbursement Under the legal theory of ethical violation.

What is ethical violation?

A documented company's code of ethics, mission, vision, values, and culture are violated when something is spoken, published, or done that does so. Additionally, we are aware that moral transgressions laugh in the face of accepted social norms.

Most business professionals' ethical conduct is governed by codes of conduct. Business infractions including discrimination, safety issues, or poor working conditions are most frequently observed.

Additionally, fraud, theft, and conflicts of interest. Many of these cross the line into illegal territory that is dealt with outside the corporation and are not merely morally bad.

Customers may be charged for services they did not receive when there is improper or fraudulent billing. This occurs most frequently in professions where the person who pays the bill is different from the person who received the services.

Due to the frequency of this particular ethical breach, many insurance companies have started providing consumers with a list of services that may fall under this category, enticing them to report any irregularities.

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_____ stock is the number of shares that a corporation's charter allows it to sell. The number of these shares usually exceeds the number of shares issued (and outstanding), often by a large amount.

Answers

An authorized stock is the number of shares that a corporation's charter allows to sell.

Authorized stock is the legal number or limit of shares that a company allows or authorizes to be sold or put in the market. This factor of policy is applicable as per the charter that the corporation allows or is legally viable to provide.

In the issue of sharing shares of a company, an organization can allow only a certain limit of shares that can be sold. This limit is the number of shares that a corporation can issue to its shareholders or investors.This stock is different from issued stock which refers to the actual number of stocks that the company has sold.Rather, authorized stock is the amount of shares that can be sold by the company and being provided in the market to be bought by shareholders or investors.

Thus, we can conclude that whatever limit a corporation allows or provides to be sold is the authorized stock. And it is only this number of shares that can be issued or given to a shareholder to buy.

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Why do tourism business have market cost for the printing​

Answers

Answer:

Launching tourist ventures involves overcoming two major hurdles: first, the venture must be

financed; and second, demand must be generated. In particular, the marketing of tourism and

hospitality ventures provides special challenges, the ability to reach the target market and convince

them to travel to remote locations being a critical success factor (Dolli, N.; Pinfold, J.F., 1997). Thus,

the main issue related to the marketing of tourist services is not their production, but their sale and

promotion, so as to ensure that all the consumers’ needs are comprehensively satisfied. (Nistoreanu,

P., 2006).

It is in this context that both the producers as well as the suppliers (intermediaries) of tourism services

should take into consideration the fact that a touristic product is sold only if there is a demand on the

market for that particular product. This means that suppliers have the possibility to either offer what is

requested on the market, responding to the consumers’ needs, or to stimulate or generate the demand

for a certain product so as to facilitate the selling of that product. In both cases, however, the

producers and suppliers need to apply a promotion strategy, through which potential clients may be

informed with regard to the offer on the market, as well as induce the clients’ desire to consume a

certain product.

Explanation:

A new machine requires an investment of $630,000 and will generate $100,000 in cash inflows for 7 years, at which time the salvage value of the machine will be $130,000. Using a discount rate of 10%, the net present value of the machine is $_________

Answers

Answer:

$-76,447.56

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Cash flow in Y0 = -630,000

Cash flow in Y1 - Y6 = 100,000

Cash flow in Y7 = 100,000 + 130,000

I = 10%

npv = $-76,447.56

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

Answer:

-76,510, (76,510)

Explanation:

Omega Enterprises budgeted the following sales in units: January 40,000 February 30,000 March 50,000 Omega's policy is to have 30% of the following month's sales in inventory. On January 1, inventory equaled 8,000 units. February production in units is: a.36,000. b.40,000. c.20,000. d.28,000. e.26,500.

Answers

Answer:

a. 36,000

Explanation:

Calculation to determine what February production in units is:

Sales for the month 30,000

Add Ending inventory 15,000

(50,000*0.3)

Less Beginning inventory (9,000)

(30,000*0.3)

February production in units 36,000 units

Therefore February production in units is: 36,000 units

The difference between actual overhead costs incurred and the budgeted overhead costs based on a flexible budget is the: Multiple Choice Production variance. Controllable variance. Volume variance. Price variance. Quantity variance.

Answers

The difference between actual overhead costs incurred and the budgeted overhead costs based on a flexible budget is the controllable variance.

In accounting, there are two elements of a variance- rate variance and volume variance. While the rate variance refers to the difference in the actual price paid vs. the budgeted price, the volume variance refers to the portion of the variance in sales, unit usage.

The controllable variance is in the "rate" element of the variance.Controllable variance refers to the process by which the efficiency of using variable overhead resources is measured.This means that the controllable variance is the difference between the actual cost and the budgeted overhead cost.The calculation for this variance is: Actual overhear expense - (budgeted overhead cost x standard number of units)= overhead controllable variance.

In short, we can say that the controllable variance is the amount that is not part of the volume variance. Rather, it is the difference in the overhead cost incurred and the budgeted overhead cost.  

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A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product are:

Answers

Answer:

1. The correct option is C. 54.

2. The correct option is E. 60.

3. The correct option is A. 3.

4. The correct option is E. 90%.

5. The correct option is E. y.

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows:

A company is designing a product layout for a new product. It plans to use this production line eight hours a day in order to meet projected demand of 480 units per day. The tasks necessary to produce this product:

Task           Time (sec)            Immediate Predecessor

u                      30                                   none

v                      30                                    u

w                      6                                      u

x                       12                                    w

y                      54                                     x

z                      30                                    v, y

1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?

A. 162

B. 72

C. 54

D. 12

E. 60

2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?

A. 162

B. 72

C. 54

D. 12

E. 60

3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?

A. 3

B. 4

C. 5

D. 6

E. 7

4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?

A. 100%

B. 92.5%

C. 75%

D. 87.5%

E. 90%

5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?

A. u

B. v

C. w

D. x

E. y

The explanation of the answers is now provided as follows:

1. Without regard to demand, what is the minimum possible cycle time (in seconds) for this situation?

The minimum cycle time is equal to the maximum task time. From the data in the question, it can be seen that the maximum task time is 54. Therefore, the correct option is C. 54. That is, the minimum possible cycle time (in seconds) for this situation is 54.

2. If the company desires that output rate equal demand, what is the desired cycle time (in seconds)?

Desired cycle time (in seconds) = Demand rate / Number of hours per days = 480 / 8 = 60

Therefore, the correct option is E. 60.

3. If the company desires that output rate equal demand, what is the minimum number of workstations needed?

Total task time = 30 + 30 + 6 + 12 + 54 + 30 = 162

Minimum possible cycle time = 54

Therefore, we have:

Minimum number of workstations needed = Total task time / Minimum possible cycle time = 162 / 54 = 3

Therefore, the correct option is A. 3.

4. If the company desires that output rate equal demand, what would be the efficiency of this line with the minimum number of workstations?

Line efficiency = Total task time / (Minimum number of workstations needed * Desired cycle time) = 162 / (3 * 60) = 162 / 180 = 0.90, or 90%

Therefore, the correct option is E. 90%.

5. If the company desires that output rate equal demand, what is the last task performed at the second workstation in the balance which uses the minimum number of workstations?

The last task should be the one has the longest task time. From the data table in the question, it can be observed that y is the task that has the longest task time. This implies y is the task to perform last.

Therefore, the correct option is E. y.

Dome Metals has credit sales of $144,000 yearly with credit terms of net 120 days, which is also the average collection period. Assume the firm adopts new credit terms of 5/10, net 120 and all customers pay on the last day of the discount period. Any reduction in accounts receivable will be used to reduce the firm's bank loan which costs 10 percent. The new credit terms will increase sales by 20% because the 5% discount will make the firm's price competitive.

Required:
a. If Dome earns 25 percent on sales before discounts, what will be the net change in income if the new credit terms are adopted?
b. Should the firm offer a discount?

Answers

Answer:

a. The net change in income if the new credit terms are adopted is a net gain of $2,880.

b. Since the discount of 5% will result in a net gain which is $2,880, the firm should offer a discount.

Explanation:

a. If Dome earns 25 percent on sales before discounts, what will be the net change in income if the new credit terms are adopted?

Old sales = $144,000

New Sales = Old sales * (100% + Percentage sales increase) = $144,000 * (100% + 20%) = $172,800

Increase in Sales = New Sales - Old sales = $172,800 - $144,000 = $28,800

Increase in Profit from new sales = Profit Margin * Increase in Sales = 25% * $28,800 = $7,200

Average Accounts Receivable without discount = Average Collection Period * Average daily Sales = 120 * ($144,000 / 360) = $48,000

Average Accounts Receivable with discount = Average Collection Period * Average daily Sales = 10 * ($172,800 / 360) = $4,800

Reduction in Accounts Receivable = Average Accounts Receivable without discount - Average Accounts Receivable with discount = $48,000 - $4,800 = $43,200

Loan balance as a result of reduction in accounts receivable. Therefore, we have:

Interest Saving = Interest Rate * Loan Reduction = 10% * $43,200 = $4,320

Cost of Discount = Discount Rate * New Sales = 5% * $172,800 = $8,640

Net Gain (loss) = Increase in Profit form new sales + Interest Saving - Cost of Discount = $7,200 + $4,320 - $8,640 = $2,880

Therefore, the net change in income if the new credit terms are adopted is an net gain of $2,880.

b. Should the firm offer a discount?

Since the discount of 5% will result in a net gain which is $2,880, the firm should offer a discount.

An educational software company wants to compare the effectiveness of teaching about supply and demand curves between computer animation presentations and textbook presentation. The company tests the economic knowledge of a number of first-year college students, then randomly divides them into two groups. One group uses the animation and the other studies the text. The company retests all the students and compares the increase in economic understanding between the two groups. Is the study described above an experiment? Why or why not?

Answers

Answer:

Yes, this is often an experiment. the corporate assigned students to either the animation or the text, instead of watching post hoc ergo propter hoc data.

Explanation:  

The explanatory variables are the pre-test data and therefore the assignment to a given group. The responding variable is that the post-test data.

Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bonds have a carrying value of $990,000. We call these bonds prior to maturity on September 30.

Required:
Write down journal entry.

Answers

Answer: please see explanation column for answers.

Explanation:

The journal entry is as follows:

To record the bonds payable and retirement

Date                   Account titles and explanation    Debit           Credit

Sept 30,       Bonds payable                            $1,000,000

Loss on bonds retirement                              $20,000

             To Discount on bond                                                   $10,000

                To cash                                                                      $1,010,000

Calculation:

Loss on bonds retirement:Total Cash disbursements - carrying value  

= (par value of the bonds+ call premium) -carrying value

= ($1,000,000 + $10,000) - $990,000

= $1,010,000 - $990,000

= $20,000

Required information Skip to question [The following information applies to the questions displayed below.] The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions follows: Revenues Revenues from our magazine subscription services are deferred initially and later recognized as revenue as subscription services are provided. Assume TTT (a) collected $420 million in 2018 for magazines that will be distributed later in 2018 and 2019, (b) provided $204 million of services on these subscriptions in 2018, and (c) provided $216 million of services on these subscriptions in 2019. Required: Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a), (b), and (c). (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.)

Answers

Answer:

The solution to the given question is defined in the attached file please find it.

Explanation:

At year-end (December 31), Chan Company estimates its bad debts as 0.30% of its annual credit sales of $896,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $448 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare Chan's journal entries for the transactions.

Answers

Answer:

Explanation:

Dec 31:

Debit Bad debts expense = 0.003 × $896000 = $2688

Credit Allowance for doubtful accounts = $2688

February 1:

Debit Allowance for doubtful accounts $448

Credit Accounts receivable—P. Park $448

June 5:

Debit Accounts receivable—P. Park $448

Credit Allowance for doubtful accounts $448

June 5:

Debit Cash $448

Credit Accounts receivable—P. Park $448

The following data relate to direct materials for the month for the Hodge Wax Company: The standard costs for the work done was 5,900 pounds of wax at $9.50 per pound. The actual costs were 6,300 pounds at $9 per pound. What is the direct materials efficiency variance

Answers

Answer: $3800 U

Explanation:

The direct material efficiency variance will be calculated as follows:

Direct material efficiency variance = (Standard quantity - Actual quantity) × Standard price of material

= (5900 - 6300) × 9.50

= 400 × 9.50

= $3800 U

Therefore, the direct material efficiency variance is $3800 Unfavorable.

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