Answer:
[Debit] Work In Process : Assembly Department $47,064
[Debit] Work In Process : Finishing Department $19,504
[Credit] Overheads $66,568
Explanation:
Note that overheads are assigned to departments on the basis of 160% of labor costs. Thus, our first point of call is to determine the labor cost for the respective departments. After that we then apply the 160 % to arrive at the Overheads assigned to that department
Step 1
Determine Departmental Labor Cost
Total Labor Costs = $62,800
Assembly Department = ( $44,400)
Finishing Department = $18,400
Step 2
Determine Overhead Cost for the Departments
Assembly Department ( $44,400 × 160 %) = $47,064
Finishing Department ( $18,400 × 160 %) = $19,504
Step 3
Journalize
Debit the Work In Process Account for the respective department and Credit the Overheads Account as above.
the area of a rectangle is 600 cm2 and its breadth is two-third of its length find the length and breadth of the rectangle
Given:
Area of a rectangle is [tex]600 \text{cm}^2[/tex].
Breadth is two-third of its length.
To find:
The length and breadth of the rectangle .
Solution:
Let x cm be the length of the rectangle.
Then, Breadth or width of the rectangle = [tex]\dfrac{2}{3}x[/tex] cm
Area of a rectangle is
[tex]Area=Length \times Breadth[/tex]
[tex]600=x \times \dfrac{2}{3}x[/tex]
[tex]600=\dfrac{2}{3}x^2[/tex]
Multiply both sides by 3.
[tex]1800=2x^2[/tex]
Divide both sides by 2.
[tex]900=x^2[/tex]
Taking square root on both sides.
[tex]\pm \sqrt{900}=x[/tex]
[tex]\pm 30=x[/tex]
Length cannot be negative. So, x=30.
Now,
Length = [tex]30\text{ cm}[/tex]
Breadth = [tex]\dfrac{2}{3}\times 30\text{ cm}[/tex]
= [tex]2\times 10\text{ cm}[/tex]
= [tex]20\text{ cm}[/tex]
Therefore, the length of the rectangle is 30 cm and the breadth is 20 cm.
I'm asking again because I legit need help on this. Best answer gets brainliest.
One of the biggest differences between a public sector business and a private sector business is the use of tax dollars. Public sectors businesses entirely run off of tax money, while private sector business depend on making money through selling goods or services.
1. What do you see as some of the POSITIVE aspects of depending on tax money to run a business?
2. What do you see as some of the NEGATIVE aspects of depending on tax money to run a business.
Answer:
1. the positively here is you are sure of the money need to run the business even without one doing much as long as taxes are paid and these business sectors under this category are non profit organization but for the betterment of the people
Explanation:
2. no profit is made so no gain, no specifiation on the goods to fit the requirements of the masses and mass production is mostly low quality.
the work in process inventory account of a manufacturing company shows a balance of $2,400. from this information, it appears that the compnay is suing a predetermined overhead rate, as a percentageof direct labor costs, of: g
Answer: 125%
Explanation:
Here's the complete question:
The Work in Process inventory account of a manufacturing company shows a balance of $2,400 at the end of an accounting period. The job cost sheets of the two uncompleted jobsshow charges of $400 and $200 for direct materials, and charges of $300 and $500 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of:
A. 80%
B. 125%
C. 300%
D. 240%
First, we have to calculate the overhead cost of the incomplete jobs. This would be:
Ending Work in process balance = $2,400
Less: Direct materials cost of uncompleted Jobs = $600
Less: Direct labor cost of uncompleted Jobs = $800
Therefore, Overhead cost of Uncompleted Jobs = $1,000
Then, the predetermined overhead rate would be calculated as:
= Overhead cost / Direct labor cost of the uncompleted Jobs
= $1000 / $800
= 1.25
= 125% of direct labor cost
Determine the present value of the following single amounts (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answers to nearest whole dollar amount.):
Answer:
1. $15,406
2. $6,461
3. $2,118
4. $15,262
Explanation:
Calculation to Determine the present value
1. Calculation for the Present Value of $31,000, n= 12, i =6%
First step is to find the Present value of $1:
n= 12, i =6% (from PV of $1)
Where,
n represent the period for investment
i represent the interest rate
The Present value of $1:n= 12, i =6% (from PV of $1) is 0.49697
Now let Calculate the Present Value of $31,000,n= 12, i =6%
Present value=$31,000 *0.49697
Present value= $15,406
2. Calculation for the Present Value of $25,000, n= 20, i =7%
First step is to find the Present value of $1:
n= 20, i =7% (from PV of $1)
Where,
n represent the period for investment
i represent the interest rate
The Present value of $1:n= 20, i =7% (from PV of $1) is 0.25842
Now let Calculate the Present Value of $25,000, n= 20, i =7%
Present value=$25,000 *0.25842
Present value= $6,461
3. Calculation for the Present Value of $36,000, n= 25, i =12%
First step is to find the Present value of $1:
n= 25, i =12% (from PV of $1)
Where,
n represent the period for investment
i represent the interest rate
The Present value of $1:n= 25, i =12% (from PV of $1) is 0.05882
Now let Calculate the Present Value of $36,000, n= 25, i =12%
Present value=$36,000 *0.05882
Present value= $2,118
4.Calculation for the Present Value of $51,000, n= 14, i =9%
First step is to find the Present value of $1:
n= 14, i =9% (from PV of $1)
Where,
n represent the period for investment
i represent the interest rate
The Present value of $1:n= 14, i =9% (from PV of $1) is 0.29925
Now let Calculate the Present Value of $51,000, n= 14, i =9%
Present value=$51,000 *0.29925
Present value= $15,262
Therefore the PRESENT VALUE will be:
Future Amount i = n = Present Value
1 $31,000 6% 12 =$15,406
2 $25,000 7% 20 =$6,461
3 $36,000 12% 25 =$2,118
4 $51,000 9% 14 =$15,262
does anyone know a free app that i can watch shows on? what show u may ask it called the 100
describe the cycle that dictates the economic ups and down of the hotel industry
The terms of business cycle which includes expansion, growth, peak, recession describes the Ups and down of the hotel industry
Business cycle refers to the cyclical upswings and downswings of a business in its output, employment, income, sales etc
The 4 stages of business cycle includes:
expansionpeakcontractiontrough/recession.In conclusion, the terms of business cycle which includes expansion, growth, peak, recession describes the Ups and down of the hotel industry
Read more about business cycle
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Criblez Corporation has two divisions: Blue Division and Gold Division. The following report is for the most recent operating period:
Total company Blue Division Gold Division
Sales $431,000 $106,000 $325,000
Variable expenses 154,810 54,060 100,750
Contribution margin 276,190 51,940 224,250
Traceable fixed expenses 177,000 38,000 139,000
Segment margin 99,190 $13,940 $85,250
Net operating income $30,230
The Blue Division's break-even sales are closest to: _____
Answer:
The Blue Division's break-even sales are closest to $276,212
Explanation:
Break even point is the level at which a firm makes neither profit nor loss.
Break-even sales (dollars) = Fixed Costs ÷ Contribution Margin
Where,
Contribution Margin = Contribution ÷ Sales
= $276,190 ÷ $431,000
= 0.64
Therefore,
Break-even sales (dollars) = $177,000 ÷ 0.64
= $276,212
A company had net income of $40,000, net sales of $300,000, and average total assets of $200,000. Its profit margin and total asset turnover were respectively:
Select one:
a. 13.3%; 0.2.
b. 13.3%; 1.5.
c. 2.0%; 1.5.
d. 1.5%; 0.2.
e. 1.5%; 13.3.
Answer:
a. 13.3%; 0.2.
Explanation:
Profit margin can be expressed as a ratio or a percentage. It is also called the gross profit ratio
The formula for gross margin
= net income/ net sales x 100
= $40,000/ $300,000 x 100
=13.33%
The formula for calculating asset turnover ratio is net sales divide by
average total assets.
=Net sales/ average total sales
=$40,000/$200,000
=0.2
A company reported average total assets of $1,240,000 in Year 1 and $1,510,000 in Year 2. Its net operating cash flow was $102,920 in Year 1 and $138,920 in Year 2. (1) Calculate its cash flow on total assets ratio for both years. (2) Did its cash flow on total assets improve in Year 2 versus Year 1
Answer:
A. Year 1 8.3%
Year 2 9.2%
B. Yes
Explanation:
(1) Calculation for its cash flow on total assets ratio for both years
Using this formula
Cash flow on total assets ratio =Net operating cash flow/Average total assets
Let plug in the formula
Year 1 Cash flow on total assets ratio=$102,920/$1,240,000
Year 1 Cash flow on total assets ratio=8.3%
Year 2 Cash flow on total assets ratio= 138,920/1,510,000
Year 2 Cash flow on total assets ratio= 9.2%
(2) Based on the above calculation YES it's cash flow on total assets improve in Year 2 versus Year 1
On July 1, 2016, Killearn Company acquired 110,000 of the outstanding shares of Shaun Company for $14 per share. This acquisition gave Killearn a 25 percent ownership of Shaun and allowed Killearn to significantly influence the investee's decisions. As of July 1, 2016, the investee had assets with a book value of $5 million and liabilities of $620,000. At the time, Shaun held equipment appraised at $308,000 above book value; it was considered to have a seven-year remaining life with no salvage value. Shaun also held a copyright with a five-year remaining life on its books that was undervalued by $1,208,000. Any remaining excess cost was attributable to goodwill. Depreciation and amortization are computed using the straight-line method. Killearn applies the equity method for its investment in Shaun. Shaun's policy is to declare and pay a $1 per share cash dividend every April 1 and October 1. Shaun's income, earned evenly throughout each year, was $591,000 in 2016, $634,400 in 2017, and $682,400 in 2018. In addition, Killearn sold inventory costing $98,400 to Shaun for $164,000 during 2017. Shaun resold $117,000 of this inventory during 2017 and the remaining $47,000 during 2018. Determine the equity income to be recognized by Killearn during each of these years. Compute Killearn's investment in Shaun Company's balance as of December 31, 2018.
Answer:
A. 2017 $61,400
2018 $49,400
B. $1,650,800
Explanation:
A. Calculation to Determine the equity income to be recognized by Killearn during each of these years.
2017 EQUITY INCOME
Equity Income =(25%*$634,400)-($ 1 per share April 1 Cash dividend+$ 1 per share October 1 Cash dividend*$110,000)
Equity Income =$158,600-($2per share*110,000)
Equity Income =$158,600-$220,000
Equity Income =$61,400
2018 EQUITY INCOME
Equity Income =(25%*$682,400)-($ 1 per share April 1 cash dividend+$ 1 per share October 1 cash dividend*$110,000)
Equity Income =$170,600-($2per share*110,000)
Equity Income =$170,600-$220,000
Equity Income =$49,400
Therefore the equity income to be recognized by Killearn during 2017 is $61,400 and 2018 is $49,400 .
b. Computation for Killearn's investment in Shaun Company's balance as of December 31, 2018
Original Investment at Cost $1,540,000
( 110,000*14per share)
Add 2017 Profit shared (Net of Dividend) $61,400
Add 2018 Profit shares (Net of Dividend) $ 49,400
2018 Investment Value $1,650,800
($1,540,000+$61,400+$ 49,400)
Therefore Killearn's investment in Shaun Company's balance as of December 31, 2018 will be $1,650,800
In your own words, describe the differences between the industrial organization (I/O) and the resource-based models of above-average returns. As an analyst, how would you determine the significance or validity of these models with respect to a given industry
Answer:
The differences between the industrial organization (I/O) and the resource-based models of above-average returns can be summarized as follows:
1. The I/O model stresses that above-average returns can only be achieved given the opportunities and threats of the prevailing market structure. This implies that the returns that the entity achieves depend on whether the market is a perfect competition, a monopoly, a monopolistic competition, or an oligopoly. It is eternally-focused. The I/O model is a market-based strategic approach that is environmentally-driven.
2. On the other hand, the resource-based model explains that the entity could achieve above-average returns because of the entity's unique or heterogeneous resources and capabilities. Therefore, this approach tends to match a firm's resources and capabilities to the market opportunities that arise in the external environment. This strategic approach concentrates on the strengths and weaknesses of the internal resources and capability endowment.
3. In any given industry, the significance or validity of these models can be determined by examining how the business entity spends its resources. Is the entity developing its internal capability through training and, what is its cultural orientation? Or is it fighting the competition with its resources, thereby dissipating energy on market positioning?
Explanation:
The I/O model or market-based theory is of the view that market opportunities and threats determine the achievable outcomes for an entity. It takes what the market gives. The resource-based theory has a different view. It suggests that the internal resources an entity possesses are valuable, rare, uncommon, and difficult for competitors to replicate. Therefore, it tries to develop these resources and capabilities in order to achieve superior performance. It is not a price or profit taker but a price mover and profit shaker.
Select the correct answer.
if you are friendly, outgoing, and love to travel, you might consider a career in what cluster?
A Arts and communication
B. Logistics and transportation
C Hospitality and tourism
D. Agriculture
how will you prove that a piece of stone occupies space
Explanation:
it is so weird, but try to understand
A theory of strategic factor markets suggests that the resources a firm possesses might give it an advantage versus competitors in labor markets such as this one. Which firm resource might be consistent with this position
Explanation:
Organizations are integrated systems that use resources to achieve certain objectives and goals and become profitable and competitive.
Globalization was a phenomenon that contributed to an increase in the flow of information and changes in technologies and paradigms that contributed to a greater speed in consumer trends, and in the number of companies competing in the market.
Therefore, to achieve competitive advantage, it is not enough for the organization to use its resources in a conventional way, it is necessary to use strategies to add value to its processes. Considering the current business scenario, it can be said that the human resource in companies is the one that will give it a sustainable competitive advantage, since the knowledge acquired is one of the main resources used for the company to position itself in relation to competitors, each time more companies are promoters of social responsibility, so prioritizing knowledge and its stakeholders will always be the most advantageous option for creating value and competitive advantages.
Effects Transaction a. The company pays cash toward an account payable. b. The company purchases equipment on credit. c. The owner invests cash in the business in exchange for its common stock. d. The company pays cash dividends to shareholders. e. The company purchases supplies for cash. f. The company provides services for cash.
Answer:
Transaction Effects on the accounting equation:
a. The company pays cash toward an account payable.
Asset (Cash) reduced = Liabilities (Accounts Payable) reduced + Equity
b. The company purchases equipment on credit.
Asset (Equipment) increased = Liabilities (Accounts Payable) increased + Equity
c. The owner invests cash in the business in exchange for its common stock.
Asset (Cash) increased = Liabilities + Equity (Common Stock) increased
d. The company pays cash dividends to shareholders.
Assets (Cash) reduced = Liabilities + Equity (Retained Earnings) reduced
e. The company purchases supplies for cash.
Assets (Supplies) increased and (Cash) reduced = Liabilities + Equity
f. The company provides services for cash.
Assets (Cash) increased = Liabilities + Equity (Retained Earnings) increased
Explanation:
The accounting equation shows that assets are always equal to liabilities and equity with each given business transaction. With the double entry system of accounting, each transaction has double effects on the accounting equation on one side or on both sides of the equation.
The effect transaction in this scenario is the owner invests cash in the business in exchange for its common stock. This transaction increases the company's cash balance and adds to its equity by increasing the owner's investment. Therefore, option c is correct.
In the context of accounting and finance, equity refers to the ownership interest in a business or organization. It represents the residual interest in the assets of the entity after deducting liabilities.
Equity can be in the form of common stock, preferred stock, or retained earnings. It reflects the claims of the owners or shareholders on the company's assets and represents their ownership rights.
Equity is an important component of a company's financial structure and plays a role in determining its value, financing options, and distribution of profits.
Learn more about equity here:
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When is a manufacturer most likely to RAISE the price of a product?
when demand for the product increases
when a competitor makes a better product
ОООО
C
when a cheap substitute for the product appears in stores
when the cost of raw materials declines
Answer:
Its (A) When demand for the product increases
Explanation: I just tooke the Economics Exam.
2008 crisis question.
Answer:
The correct answer is D.
Explanation:
The Great Recession was an almost global recession that began around 2007 and peaked in 2009. The recession was triggered by various factors, in particular the bursting of a property price bubble in the USA and the associated financial crisis from 2007 and the banking crisis, which was later followed by sovereign debt crises such as the Greek sovereign debt crisis. In addition, there were hunger crises in poor countries. At the start of the crisis there were several negative announcements about the mortgage system of the United States of America; the crisis stemmed from what became known as 'toxic lending', the greed of companies to make a profit and to give mortgages to people who could not afford to pay it back. This housing crisis, known as the Subprime mortgage crisis, spread worldwide.
Suppose Americans working in the textile industry decide to boycott goods made in the European Union. Explain how this boycott will affect each of the following: The supply of dollars The international value of the dollar
Answer: See explanation
Explanation:
The supply of dollars: The boycott by the Americans would result in the reduction in the supply of dollars on the international market. This is due to the fact that there will be less dollar going to the European Union.
The international value of the dollar: There'll be a depreciation in the value of the dollar. A reduction in demand would lead to decline in it's value.
RWJ inc., produces the different medical devices. the following relates to the three products for next year. under an activity-based costing system, the per-unit overhead cost of device z is closest to
Answer:
Exing relates to the three products for next yeaplaRWJ inc., produces the different medical devices. the following relates to the three products for next year.nation:
The amount of interpersonal space (space between people while interacting) that is acceptable varies by culture. This activity is important because interpersonal space is one of the key cultural areas to understand in business if you want to bridge cross-cultural gaps. The goal of this exercise is to test your knowledge of the cultural area of interpersonal space.
Determine which of the following countries has Least Social Distance and Most Social Distance.
a. China
b. UK
c. Saudia Arabia
d. India
e. USA
Answer:
Note: The full question is attached as picture below
Below is in order, according to the amount of social distance (interpersonal space in a professional interaction) that would likely be expected during a business transaction in that particular country.
1 = Least Social Distance: 5 = Most Social Distance:
1 - USA
2 - UK
3 - INDIA
4 - CHINA
5- SAUDI ARABIA
Sources of economic growth would include an increase in:
a. Investment spending.
b. Financial investment.
c. Consumer spending.
d. Government spending.
e. Consumer saving
Answer:
Option e: Consumer saving
Explanation:
Consumer saving shows that the economy of a given country is growing. When a citizen of a country is employed, then unemployment decreases and consumers can be afford to buy some of their needs and still save some amount of money or valuables for future use. It shows that the economy growth is increasing in that country.
An increase in consumer savings can lead to more production, investment and others.
