Answer:
d. Spain
Explanation:
The country that would have the greatest success in doing this would be Spain. This is mainly due to the fact that Mexico's main language is Spanish just like in Spain (even though the dialect is different). The other countries listed all speak different languages which will not fair well with Mexican audiences since they will not understand the media. In Brazil, they speak Portuguese. In Canada, they speak English. In Japan, they speak Japanese.
Journalize the following entries for the month:
a. Materials are purchased to produce 960 units.
b. Conversion costs are applied to 910 units of production.
c. The cell completes 860 units, which are placed into finished goods.
Answer:
Journal Entries without $ amounts:
a. Debit Materials Inventory for 960 units
Credit Cash Account or Accounts Payable for 960 units.
To record the purchase of materials for the production of 960 units
Debit Work in process for 960 units
Credit Materials Inventory for 960 units
To record the transfer of materials to work in process.
b. Debit Conversion Costs for 910 units
Credit Cash Account for 910 units
To record conversion expenses.
Debit Work in process for conversion costs
Credit Conversion Costs
To record the transfer of conversion costs to WIP.
c. Debit Finished Goods Inventory for 860 units
Credit Work in Process for 860 units
To record the transfer of 860 units out of WIP, (materials and conversion costs).
Explanation:
Journals serve multi-purposes for the initial recording of business transactions. They also play important roles for period-end and other adjustments. Journals come in hand for closing entries of transactions. Importantly, they identify the accounts that are debited and credited respectively. There are many kinds of journals for various purposes, from the general to so many of the specialized kinds. We can even use journal entries to record exchange of quantities, not only dollar amounts, as demonstrated above.
Sheffield Corp. budgeted costs for 45000 linear feet of block are: Fixed manufacturing costs$24000 per month Variable manufacturing costs$16 per linear foot Sheffield installed 30000 linear feet of block during March. How much is budgeted total manufacturing costs in March
Answer:
Manufacturing cost =$744,000
Explanation:
The total manufacturing cost is the sum of the variable manufacturing cost and the fixed manufacturing cost.
Manufacturing cost = variable cost + Fixed cost
This can be represent using the formula below
Y = bx + a
Y -Manufacturing cost
b- Variable cost per unit
a- Fixed cost
X- number of units
Y = (45,000× 16) + 24,000 = $744000
Budgeted Manufacturing cost =$744,000
Answer:
The answer is $504,000
Explanation:
Budgeted total manufacturing cost is the total variable cost and fixed cost the company had calculated for the production of a particular product.
Budgeted total manufacturing costs in March is:
(Variable manufacturing cost x Linear feet installed) + Fixed manufacturing cost
($16 x 30,000 linear feet) + $24,000
= $480,000 + $24,000
=$504,000
The process by which management plans, evaluates, and controls long-term investment decisions involving fixed assets is called a.absorption cost analysis b.cost-volume-profit analysis c.variable cost analysis d.capital investment analysis
Answer:
d.capital investment analysis
Explanation:
Capital Investment Analysis uses methods such as Payback period, Accounting Rate of Return, Net Present Value to evaluate the the most suitable investment decisions involving fixed asset and this is known as capital investment analysis.
Xion Co. budgets a selling price of $85 per unit, variable costs of $34 per unit, and total fixed costs of $285,000. During June, the company produced and sold 12,300 units and incurred actual variable costs of $366,000 and actual fixed costs of $300,000. Actual sales for June were $1,090,000.
Required:
Prepare a flexible budget report showing variances between budgeted and actual results. List variable and fixed expenses separately.
Answer:
XION CO.
Flexible budget report
For month ended June 30
Flexible Actual Variances Fav/Unf
budget results
Sales 1,045,500 1,090,000 44,500 Favorable
(-) Variable cost 418,200 366,000 52200 Favorable
Contribution 627,300 724,000 96,700 Favorable
(-) Fixed cost 285,000 300,000 15,000 Unfavorable
Net income 342,300 424,000 81,700 Favorable
Workings
Sales= 12,300 units * $85 = $1,045,500
Variable cost = 12,300 units * $34 =$418,200
The two main types of e-commerce are
Answer:
B2B (Business to business) and B2C (Business to consumer)
Laser World's income statement reported total revenues of $860,000 and total expenses (including $40,500 depreciation) of $740,000. The balance sheet reported the following: Accounts Receivable—beginning balance, $54,000 and ending balance, $57,500; Accounts Payable—beginning balance, $27,500 and ending balance, $33,500. Therefore, based only on this information, the net cash flows from operating activities were:
Answer:
the net cash flows from operating activities were: $163,000.
Explanation:
Prepare the Operating Activities Section of the Cash Flow Statement as follows :
Cash flow from Operating Activities
Net Income ( $860,000 - $740,000) $120,000
Adjustment of Non-cash items :
Depreciation $40,500
Adjustment for Changes in Working Capital items :
Increase in Accounts Receivable ($57,500 - $54,000) ($3,500)
Increase in Accounts Payable ($33,500 - $27,500) $6,000
Net Cash From Operating Activities $163,000
g If Warren Buffet can beat the market using value investing, then... Group of answer choices the market is semi-strong form efficient the market is weak form efficient the market cannot be efficient the market is strong form efficient
Answer: The market is weak form efficient
Explanation:
Weak form markets are markets in which stocks are said to incorporate all past information in their prices. Investors who believe that the market is at weak form efficiency believe that since the stock contains past information, using the current information in the company's books to determine if the company is overvalued or undervalued is possible (fundamental analysis).
Warren Buffet's Value Investing means that he invests in stocks that he believes to be undervalued and sells them for higher or holds them when they appreciate. This is consistent with fundamental analysis. If Warren Buffet is beating the market by investing in undervalued stock then the market is indeed weak form efficient.
Location Score
Factor
(100 points each) Weight A B C
Convenience .15 86 77 83
Parking facilities .20 70 88 98
Display area .18 86 90 94
Shopper traffic .27 90 88 89
Operating costs .10 86 91 96
Neighborhood .10 90 86 84
1.00
Using the above factor ratings, calculate the composite score for each location. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)
Location Composite Score
A
B
C
Answer:
Location Composite Score
A 84.28
B 86.81
C 91.00
Explanation:
Calculation for the composite score for each location Using the above factor ratings
A
Factor Weight A
Convenience .15 ( .15*86 )=12.90
Parking facilities .20 (.20*70)=14.00
Display area .18 (.18*86)=15.48
Shopper traffic .27 (.27*90)=24.30
Operating costs .10 (.10*86 )=8.60
Neighborhood .10 (.10* 90 )=9.00
Total 1.00= 84.28
B
Factor Weight B
Convenience .15 (.15* 77)=11.55
Parking facilities .20 ( .20* 88)=17.60
Display area .18 (.18* 90)=16.20
Shopper traffic .27 (.27*88 )=23.76
Operating costs .10 (.10* 91)=9.10
Neighborhood .10 (.10*86 )=8.60
Total 1.00 = 86.81
C
Factor Weight C
Convenience .15 (.15* 83)=12.45
Parking facilities .20 (.20*98)=19.60
Display area .18 (.18*94)=16.92
Shopper traffic .27 (.27*89)=24.03
Operating costs .10 (.10*96)=9.60
Neighborhood .10 (.10*84)=8.40
Total 1.00 = 91.00
Therefore the composite score for each location is:
Location Composite Score
A 84.28
B 86.81
C 91.00
Based on the above calculation C is the best because it has the highest composite score of 91.00.
What changes in the work situation might account for the increase in productivity and the decrease in controllable rejects? What might account for the drop in absenteeism and the increase in morale? What were the major changes in the situation? Which changes were under the control of the manager? Which were controlled by the workers? What might happen if the workers went back to the old assembly line method?
A company is considering the relacation of its manufacturing plant and administrative offices from a small city in the midwest to a similar-sized city in the south. Approximately 20% of the residents of the city are employed by the company, and many others are employed in businesses such as banks, personal service, restaurnts, shopping centers, and supermarkets that would suffer a decline in business if the company decides to relocate. Does the company have a social responsiblity to factor into its decision the impact that is move would have on the city? Why?
What are 3 examples of what would be considered un-ethical behavior involving management of quality, and state which ethical principle are violated?
Answer:
g
Explanation:
As a firm grows, it must support increases in revenue with new investments in assets. The self-supporting, or sustainable, growth model helps a firm assess how rapidly it can grow, while maintaining a balance between its cash outflows (increases in noncash assets) and inflows (funds resulting from increases in liabilities or equity). Consider the following case of Bohemian Manufacturing Company: Bohemian Manufacturing Company has no debt in its capital structure and has $300,000,000 in assets. Its sales revenues last year were $120,000,000 with a net income of $2,000,000. The company distributed $180,000 as dividends to its shareholders last year. Given the information above, what is Bohemian Manufacturing Company’s sustainable growth rate? 0.0601562% 0.5181384% 0.61% 4.1464268% Which of the following are assumptions of the sustainable (self-supporting) growth model? Check all that apply. The firm maintains a constant net profit margin. The firm’s liabilities and equity must increase at the same rate. The firm pays no dividends. The firm maintains a constant ratio of liabilities to equity.
Answer:
Sustainable growth rate = 0.67148%
The firm maintains a constant ratio of liabilities to equity.
Explanation:
Sustainable growth rate = ROE *Plow back Ratio / (1-ROE * Plow back Ratio)
When ROE = Net Income / Total Assets
= $2,000,000/$300,000,000
= 0.00667
Plow back Ratio = 1 - (Dividend / Net Income)
= 1 - ($180,000/$2,000,000)
= 1 - 0.09
=0.91
Sustainable growth rate = ROE * Plow back Ratio / (1-ROE * Plow back Ratio)
= 0.00667 * 0.91 / (1 - 0.00667 * 0.91)
= 0.0060697 / 0.9039303
=0.0067148
= 0.67148%
Therefore, the sustainable growth rate is 0.67148%
The firm maintains a constant ratio of liabilities to equity is the correct assumption for the sustainable growth model.
A company makes cat food. Management is considering whether the hard cardboard box for packing a case of canned cat food should be made internally or purchased from another company. The costs of producing the cardboard boxes include:_________.
Variable cost per box $0.39
Total fixed costs of the factory $59,030 per year
Total boxes needed annually 21,962
Quote from the supplier, per box $0.22
How much will the company save (or lose) IN TOTAL if they accept the supplier's quote? If they lose money, put a negative sign in front of your answer. If they save money, just put in the number without any sign in front of it.
Answer:
Total relevant cost of 21,962 * $0.39 = $8,565.18
making internally
Less: Total relevant 21,962 * 0.22 = $4,831.64
cost of purchasing
Savings in cost $3,733.54
Conclusion: Manufacturing the hard cardboard box internally will save cost of $3,733.54 as compared to cost of purchasing the same quantity of box needed from supplier.
Note: Fixed costs is not relevant cost as it is unavoidable.
United Apparel has the following balances in its stockholders’ equity accounts on December 31, 2018: Treasury Stock, $650,000; Common Stock, $400,000; Preferred Stock, $1,600,000; Retained Earnings, $1,200,000; and Additional Paid-in Capital, $6,800,000. Required: Prepare the stockholders’ equity section of the balance sheet for United Apparel as of December 31, 2018
Answer:
United Apparel Balance sheet as of December 31, 2018
Stockholders’ Equity section
Common Stock Capital ............................................$400,000
Preferred Stock Capital.............................................$1,600,000
Additional Paid-in Capital..........................................$6,800,000
Total Paid-in Capital....................................................$8,800,000
Retained Earnings.......................................................$1,200,000
Less: Treasury Stock...................................................($650,000)
Total Stockholders Equity..........................................$9,350,000
In a concentrated network configuration:
a. firms perform a supply chain activity in one location and serve foreign locations from it
b. firms allow each site on the network to operate with full autonomy
c. firms tightly link operations and supply chain activities to one another
d. firms perform a supply chain activity in various countries
Answer:
B
Explanation:
Here, in this question, we are to select which of the options is best.
The correct answer to this question is that in a concentrated network configuration, firms allow each site on the network to operate with full autonomy.
What this means is that each site in the network operate independently of the other sites.
A site is thus an autonomous entity but still part of the concentrated network
The federal gas tax has been stuck at 18.4cents¢ a gallon since 1993. Today, Americans are driving fewer miles, and vehicles have become more fuel-efficient. Less gas consumption means less gas-tax revenue to repair the nation's roads. Source: Bloomberg News, July 17, 2014 Would a tax per mile driven by more efficient or less efficient than a tax per gallon of gasoline? Which tax would be more regressive? Explain your answers.
Answer:
1. A Tax per mile driven would be more efficient than a tax per gallon of gasoline.
2. A tax per gallon of gasoline is more regressive. The tax is based on a fixed dollar per gallon since 1993. instead of being based on a percentage per the price of gasoline per gallon. With the current rate, the price of gasoline per gallon may even be less than the tax. One can then ask, "what is the purpose of the tax?" Is the tax a road tax or a per gallon use tax?
Explanation:
When the federal gas tax remains at 18.4 cents per gallon for a very long period, the tax can be described as regressive as it does not take into consideration the trend that Americans are driving fewer miles, and vehicles have become more fuel-efficient. This means that the gas tax is not fit for purpose. If its purpose is to generate revenue for road repairs, then instead of a gallon tax, government should institute a road use tax.
Suppose Cho is considering emigrating from her home country.A fictional country of Flaxon has the same policies and institutions as Cho's home country, except that it has greater price stability. If Cho's decision to emigrate is based solely on the prospects for economic growth, she would
Answer: Migrate to Flaxon
Explanation:
If Flaxon country has the same policies and institutions as Cho's home country but also has greater price stability, Cho would emigrate if she wanted more economic growth because Price stability contributes to the growth of the economy.
Price stability means that the country is not going to experience inflation (deflation) that is too high (low) and lasts too long as well as one that is erratic.
This benefits the economy because;
Savings will not be easily eroded by inflation.Decisions can be made easier as inflation rates can be better predictable. For instance, people can save or invest at a particular rate that they know will bring them real return as it will be over the inflation rate. Unexpected deflation will not cause companies to make losses which can increase unemployment and company shutdowns and,Financial institutions can borrow out loans at more stable rates for investments because in a less stable market they would have to charge higher rates to ensure that they do not make losses should inflation change. These stable rates will attract companies and individuals who will use the funds for investment and improve the economy.Oil Dawg, an oil tanker company, shipped oil to coasts all over the US. During many deliveries, the crew was dumping waste into the ocean. To conceal this, the crew falsified entries into the record book and lied to the Coast Guard about waste disposal. Top executives in the company were unaware this was happening. A jury convicted Oil Dawg of conspiracy, pollution, and obstruction of justice and the company was fined $4.9 Million. Oil Dawg appealed. Should Oil Dawg be found criminally liable for the illegal actions of its lower-level employees under the doctrine of respondeat superior? Why or Why not?
Answer:
The doctrine of respondeat superior is generally applied to torts and is used by civil courts, but can also include criminal activities. In this case, the main issue is the fine imposed on Oil Dawg, so yes, this doctrine applies.
Respondeat superior basically makes the principal (the employer in this case) legally responsible for unlawful or negligent acts committed by its agents (employees in this case). This doctrine applies as long as the illegal acts were committed within the scope of the normal employment, e.g. crashing a van while making a delivery. In this case, the illegal polluting was carried out while transporting oil to the US.
The only possible defense that Oil Dawg might have is that the people that committed the illegal polluting were independent contractors and they weren't actual employees of the company. But according to the text given, that is not the case.
This doesn't mean that only the employer will be go to trial, the employees that committed the illegal polluting will also go to trial since they are both liable, and maybe face the same or even different charges.
A negative supply shock, such as the OPEC oil price increases of the early 1970s, can be illustrated by a shift to the ______________ of the short-run aggregate supply curve and a shift _________________ of the short-run Phillips curve.
Answer: Leftward; upwards.
Explanation: A Supply shock is a term used to describe the sudden and unexpected change in the supply of a given product or commodity usually indicated by the leftward shift if the shock is negative in the aggregate supply curve and an upward change in direction in the Phillips curve both on the short run. Both curves are used to demonstrate graphically the impacts of shifts in supply for a given product or commodity.
The ___________ incorporates a line receiver in order to convert the optical signal into the electrical regime.
a) Attenuator
b) Transmitter
c) Repeater
d) Designator
Answer: repeater
Explanation:
The attenuation is used to limits the maximum distance that occurs between an optical fiber transmitter and the receiver.
It should be noted that the repeater helps to incorporates a line receiver to convert the optical signal into the electrical regime.
Elize’s regular hourly wage rate is $20, and she receives an hourly rate of $30 for work in excess of 40 hours. During a January pay period, Elize works 45 hours. Elize’s federal income tax withholding is $94, and she has no voluntary deductions. Use January 15 for the end of the pay period and the payment date. Prepare the journal entries to record (a) Elize’s pay for the period and (b) the payment of Elize’s wages.
Answer:
(a) Debit Wages expense for $950; Credit Federal income tax withholding for $94; and Credit Wages payable for $856
(b) Debit wages payable for $856; and Credit Cash for $856.
Explanation:
The entries will look as follows:
a) Prepare the journal entries to record Elize’s pay for the period
Date Account title Dr ($) Cr ($)
Jan 15 Wages expense (w.3) 950
Federal income tax withholding 94
Wages payable (w.4) 856
(To Elize’s pay for the period.)
(b) Prepare the journal entry to record the payment of Elize’s wages.
Date Account title Dr ($) Cr ($)
Jan 15 Wages payable (w.4) 856
Cash 856
(To record the payment of Elize’s wages.)
Workings:
Normal hours = 40
Number of hours worked = 45
Overtime hours = Number or hours worked - Normal hours = 45 - 40 = 5
Normal hourly wage rate = $20
Overtime hourly rate = $30
Federal income tax withholding = $94
w.1: Normal wage amount = Normal hours * Normal wage rate = 40 * $20 = $800
w.2: Overtime pay = Overtime hours * Overtime hourly rate = 5 * $30 = $150
w.3: Wages expense = Normal wage amount + Overtime pay = $800 + $150 = $950
w.4: Wages payable = Total wage amount - Federal income tax withholding = $950 - $94 = $856
Projectized organizations are especially effective at helping team members to maintain their discipline-specific competencies. Group of answer choices
Answer: False
Explanation:
A projectized organization is a form of organization structure is that is designed such that it is hierarchical and headed by the project manager who is typically involved in every decision that is made regarding the project as he or she is the one that team members report to.
Therefore, projectized organizations are not effective at helping team members to maintain their discipline-specific competencies.
An organizational chart of a company shows vice presidents with responsibility for key areas such as design, manufacturing, sales, marketing, and after-sales support. This reflects a _______ structure.
Answer: Functional
Explanation: The functional structure of an organisational chart places people with similar skills who perform similar activities in a group under a common manager who answers to an executive a level up in the hierarchy who may oversee multiple departments. Therefore, an organizational chart of a company showing vice presidents with responsibility for key areas such as design, manufacturing, sales, marketing, and after-sales support would reflect a functional structure.
An advantage of the functional structure is that employees are allowed to focus their collective energies on executing their roles as a department but sometimes they might develop tunnel vision (seeing the company solely through the lens of the employee’s job function) and often at times there is a lack of inter-departmental communication.
Since the beginning of the twentieth century, the United States has experienced _________ recessions. Of those, ______ have occurred since 1970.
Answer: 22; 7
Explanation;
A Recession refers to the economy of a country contracting for at least 2 quarters.
Since the the beginning of the twentieth century, the United States has experienced 22 recessions with the worst being the Great Depression of 1929 and the Great Recession of 2008.
Of those, 7 have occurred since 1970 with the 7th ongoing as a result of the Corona virus pandemic.
Putting an X in the appropriate spot, classify the costs highlighted in yellow as: Direct Material, Direct Labor, Overhead, or Period Costs. Other costs have been provided for you.
The fixed and variable cost classifications have been provided for you.
Item/ Direct Direct Manufacturing Period Fixed Variable
Cost Material Labor Overhead Costs
Groomer x X
Day care attendant x X
Receptionist x X
Kennel attendant x
Food and water bowls x X
Fencing for day care area x
Installation of fencing x
Dog grooming arm (attaches to table)
12 kennels cost
Depreciation on kennels
Rent X
Utilties and insurance X
Grooming table x X
Grooming tub 48" x X
Heating system x X
Depreciation on heating system X
Clippers x
Shampoo (Crystal Clear:
five-gallon pail) x X
Cage bank (set of five)
Salon Tuff Capri mobile carry cart
Towels x
Scissors (7-inch straight,
ear & nose) x
Toys (used in day care only) x X
Cleaning products (used
throughout) x X
Dryer x
Rubberized flooring (day care) X
Loan X
Draw X
Answer:
The following costs are classified appropriately under the following heading:
Direct Material:
Food and water bowls
Dog grooming arm
12 kennels cost
Grooming table
Grooming tub 48"
Shampoo (Crystal Clear: five-gallon pail)
Cage bank (set of five)
Salon Tuff Capri mobile carry cart
Towels
Scissors (7-inch straight, ear & nose)
Toys (used in day care only)
Cleaning products (used throughout)
Dryer
Direct Labour:
Groomer
Day care attendant
Receptionist
Kennel attendant
Rubberized flooring (day care)
Overhead:
Fencing for day care area
Installation of fencing
Utilties and insurance
Heating system
Draw
Period Cost:
Depreciation on kennels
Rent
Depreciation on heating system X
Clippers
Loan
Explanation:
Gig Harbor Boating is the wholesale distributor of a small recreational catamaran sailboat. Management has prepared the following summary data to use in its annual budgeting process:
Budgeted unit sales 500
Selling price per unit $1,970
Cost per unit $1,460
Variable selling and administrative expenses (per unit) $ 50
Fixed selling and administrative expenses (per year) $196,000
Interest expense for the year $ 13,000
Required:
Prepare the company’s budgeted income statement using an absorption income statement format shown below.
Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next four months as follows:
Sales in Units
April 74,000
May 85,000
June 114,000
July 92,000
The company is now in the process of preparing a production budget for the second quarter. Past experience has shown that end-of-month inventory levels must equal 10% of the following month’s sales. The inventory at the end of March was 7,400 units.
Required:
Prepare a production budget for the second quarter; in your budget, show the number of units to be produced each month and for the quarter in total.
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Total cash receipts $310,000 $430,000 $360,000 $380,000
Total cash disbursements$365,000 $335,000 $325,000 $345,000
The company’s beginning cash balance for the upcoming fiscal year will be $25,000. The company requires a minimum cash balance of $10,000 and may borrow any amount needed from a local bank at a quarterly interest rate of 3%. The company may borrow any amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter. Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded.
Required:
Complete the company's cash budget for the upcoming fiscal year. (Cash deficiency, repayments, and interest, should be indicated by a minus sign.)
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year:
Ending Balances
Cash ?
Accounts receivable $ 8,500
Supplies inventory $ 4,700
Equipment $ 36,000
Accumulated depreciation $ 14,600
Accounts payable $ 2,200
Common stock $ 5,000
Retained earnings ?
The beginning balance of retained earnings was $32,000, net income is budgeted to be $16,300, and dividends are budgeted to be $2,700.
Required:
Prepare the company’s budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)
Answer:
Gig Harbor Boating
Budgeted Income Statement using absorption costing format:
Sales Revenue $985,000
Cost of Boats Sold 730,000
Gross profit $255,000
Total variable selling and
administrative expenses $25,000
Fixed selling and
administrative expenses (per year) 196,000 $221,000
Income before interest and taxes $34,000
Interest expense for the year 13,000
Pretax Income $21,000
2. Down Under Products, Ltd. of Australia
Production Budget for the second quarter
April May June Total
Sales in Units 74,000 85,000 114,000 273,000
Ending Inventory 8,500 11,400 9,200 9,200
Beginning Inventory 740 8,500 11,400 740
Units to be produced 81,760 87,900 111,800 241,460
3. Garden Depot
Summary of Cash Budget for the upcoming fiscal year:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Beginning cash bal. $25,000 $10,000 $63,800 $98,800
Total cash receipts $310,000 $430,000 $360,000 $380,000
Total cash available $335,000 $440,000 $423,800 $478,800
Total cash
disbursements ($365,000) ($335,000) ($325,000) ($345,000)
Bank loan (repyt) 40,000 (40,000)
Bank loan Interest (1,200)
Cash Balance ($30,000) $63,800 $98,800 $133,800
Required Minimum $10,000 $10,000 $10,000 $10,000
4. Mecca Copy
Budgeted Balance Sheet for the coming year:
Budgeted Balance Sheet for the next year:
Ending Balances
Cash $ 18,200
Accounts receivable $ 8,500
Supplies inventory $ 4,700
Equipment $ 36,000
Accumulated depreciation $ 14,600 $ 21,400
Total Assets $ 52,800
Accounts payable $ 2,200
Common stock $ 5,000
Retained earnings $ 45,600
Total Liabilities and Equity $ 52,800
Explanation:
1. Gig Harbor Boating:
Data and Calculations:
Budgeted unit sales 500
Selling price per unit $1,970
Sales Revenue = $985,000 ($1,970 x 500)
Cost per unit $1,460
Cost of Boats Sold = $730,000 ($1,460 x 500)
Variable selling and administrative expenses (per unit) $ 50
Total variable selling and administrative expenses = $25,000 ($50 x 500 )
Fixed selling and administrative expenses (per year) $196,000
Interest expense for the year $ 13,000
2. Down Under Products, Ltd., of Australia has budgeted sales of its popular boomerang for the next four months as follows:
a) Data and Calculations:
March April May June July
Sales in Units 7,400 74,000 85,000 114,000 92,000
Ending Inventory 740 8,500 11,400 9,200
Beginning Inventory 740 8,500 11,400 9,200
Units to be produced 81,760 87,900 111,800
3. Garden Depot
Data and Calculations:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Beginning cash bal. $25,000 $10,000 $63,800 $98,800
Total cash receipts $310,000 $430,000 $360,000 $380,000
Total cash available $335,000 $440,000 $423,800 $478,800
Total cash
disbursements ($365,000) ($335,000) ($325,000) ($345,000)
Bank loan (repyt) 40,000 (40,000)
Bank loan Interest (1,200)
Cash Balance ($30,000) $63,800 $98,800 $133,800
Required Minimum $10,000 $10,000 $10,000 $10,000
4. Mecca Copy:
Data and Calculations:
Budgeted Balance Sheet for the next year:
Ending Balances
Cash ?
Accounts receivable $ 8,500
Supplies inventory $ 4,700
Equipment $ 36,000
Accumulated depreciation $ 14,600
Accounts payable $ 2,200
Common stock $ 5,000
Retained earnings ?
Retained Earnings:
Beginning = $32,000
Net income = 16,300
Dividends = (2,700)
Ending = $45,600
Gig Harbor Boating's budgeted income statement gives a snapshot into the future of its revenue, cost of boats sold, gross profit, and pretax income. Thus, it uses the projections to guide management towards the achievement of its targets.
Similarly, Down Under Products, Ltd. of Australia prepares a production budget for the second quarter to determine how much units it needs to produce to meet sales or customers' demand.
Garden Depot, as a retailer, ascertains its cash needs by preparing budgeted cash flows for the coming year.
Finally, Mecca Copy cannot operate its center without an idea about its financial position for the next year. Therefore, it prepares a budgeted balance sheet. All these budgets guide managements of these various entities and prepare them for taking necessary actions to plan and keep their companies afloat.
Describe the main differences for revenue spending between ""for profit"" companies and ""not for profit"" companies. Describe how the main financial documents of Goodwill are similar to those companies that are ""for profit"". Describe how the main financial documents of Goodwill are difference to those companies that are ""for profit"".
Answer with Explanation:
Requirement 1:1. Profit Organization
The aim of profit organization is to maximize the wealth of shareholders by increasing its profits. The owners of the company get dividends and appreciation in the value as a return from the company.
2. Nonprofit Organization
The primary mission of Non-profit organization is to benefit the community by helping them and the earnings generation is not the primary goal of the company. ACCA is an entity that delivers quality education to its students and also earns profit on it but the profit margin kept is as low as possible to keep its operation running. Other examples are Rolex, NGO's, National Health Institutes, etc.
In other words, these institutes are for charitable purpose and their primary objective is not making profits.
Key Difference Between Profit Organization and Non-profit Organization
A profit organization's primary objective is to maximize profits whereas the Non profit organizations work for delivering services and products that helps in uplifting the society from their donations.A profit organization is registered as a sole proprietorship or partnership or a corporation. Whereas Non profit organization is registered as a charity club, association of person, trust, corporations, etc.Usually major source of income of Non profit organization comes from donations, government and corporation grants, subscriptions, etc. Whereas the major source of profit organization is income generated from the sale of goods and services. Non profit organization - the major incomes are donation, grant, legacies, subscription, etc.Requirement 2:
Profit making organization have to publish all financial statements which includes income statement, balance sheet, cash flow statement, statement of changes in equity, etc whereas the non profit organization only publishes balance sheet and cash flow statement. If the Non profit organization is involved in selling of products and services then the organization will also have to prepare income statement.
The non profit organization doesn't pays andy dividends as it is a charity firm and all it does is, it spends it money for the welfare of the community. Whereas the profit organization have to retain a share of earned profits and then distributes the remainder to shareholders.
The profit making organization publishes changes in equity statement whereas the charitable firm is not required to publish such things because its primary objective is to spend on the welfare of the community.
A small distribution organization uses a payroll company to provide employee compensation services and keep timesheet records and employee attendance history. This situation is an example of
Complete Question:
A small distribution organization uses a payroll company to provide employee compensation services and keep timesheet records and employee attendance history. This situation is an example of?
Group of answer choices.
A. Offshoring
B. Centralized work surveillance.
C. Outsourcing.
D. Telecommuting.
Answer:
Outsourcing.
Explanation:
When a small distribution organization uses a payroll company to provide employee compensation services and keep timesheet records and employee attendance history. This situation is an example of outsourcing.
Outsourcing can be defined as a contractual agreement in which a company contracts another firm (third-party) to be responsible for providing certain job functions, tasks or services rather than use employees or departments within the company.
In this scenario, the outsourcing firm or company is saddled with the responsibility of providing employees compensation services, keep timesheet records, and manage the attendance history of employees working at the outsourced distribution organization.
A project requires an initial investment of $10 million today. If the cost of capital exceeds the project IRR, then the project must have a(n):
Answer:
Negative NPV.
Explanation:
present value of cost exceeds present value of revenue that is been assumed in the investment plan of the said company/firm.
Net Present Value describes one of the discounted techniques of cash flow used in capital budget to determining the viability of a project or an investment. It is seen to have a huge difference between the present flow of the firms; which is cash inflows and the present value of cash outflows over a period of time. Experts has tagged its primary advantage to be that it is seen to considers the concept of the time value of money.
Which of the following demonstrates a way that an organization can maximize profits?
a. Decreasing the quality of care
b. Reducing the cost of delivering care
c. Reducing the costs charged for services
d. All of the above
Answer:
b. Reducing the cost of delivering care
Explanation:
Not a lot of information is included, but some things apply to all types of businesses:
you can maximize profits by minimizing costs (this is a valid option).you cannot maximize your profits by lowering the quality of your products or services, since that will result in lost customers.reducing the costs charged for services will increase your profits only if it results in a larger increase in the quantity demanded, so this doesn't always apply.Telecom Systems can issue debt yielding 7 percent. The company is in a 30 percent bracket. What is its aftertax cost of debt
Answer:
After tax cost of debt = 0.049 or 4.9%
Explanation:
The after tax cost of debt is the rate of debt after deducting the benefit from tax savings due to interest payments required by the debt which are deductible before calculating tax. The after tax cost of debt is somewhat an effective cost of debt. It is calculated using the following formula,
After tax cost of debt = Cost of debt * (1 - tax rate)
After tax cost of debt = 0.07 * (1 - 0.3)
After tax cost of debt = 0.049 or 4.9%
Suppose the Baseball Hall of Fame in Cooperstown, New York, has approached World Wide Cards with a special order. The Hall of Fame wants to purchase 51,000 baseball card packs for a special promotional campaign and offers $0.33 per pack, a total of $16,830. World Wide Cards's total production cost is $0.53 per pack, as follows:Variable costs: Direct materials $0.13Direct labor 0.04Variable overhead 0.11Fixed overhead 0.25Total cost $0.53World Wide Cards has enough excess capacity to handle the special order. Required:Prepare an incremental analysis to determine whether World Wide Cards should accept the special sales order assuming fixed operating income from the special order.b. Now assume that the Hall of Fame wants special hologram baseball cards. World Wide Cards will spend $5,000 to develop this hologram, which will be useless after the special order is completed. Should World Wide Cards accept the special order under these circumstances, assuming no change in the special pricing of $0.33 per pack?
Answer:
I don't no friend this type of questions
