A good example of Brazil undertaking importation is A. Brazil buys made-in-China products.
The products are made in China and imported into Brazil by businesses, institutions, and individuals resident in Brazil.
Importation does not involve the following options:
Option b, whereby "China buys raw materials such as iron ore from Brazil." For Brazil, this is an export. Option c, whereby "Brazilian companies invest heavily in the housing industry in the country." This is domestic investment for Brazil. Option d, whereby "Chinese companies invest in Brazilian industry." This is known Foreign Direct Investment (FDI).Thus, when Brazilian persons import products and services from another country, they are classified as imports and not exports or domestic investments.
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Consider the following yields to maturity on various one-year zero-coupon securities: Security: Treasury AAA Corporate BBB Corporate B Corporate Yield (%): 4.6 4.8 5.6 6.2 The price (expressed as a percentage of the face value) of a one-year, zero-coupon, corporate bond with a BBB rating is closest to:
Answer:
94.70%
Explanation:
The computation of the price expressed as a percentage of the face value is given below:
= Price ÷ Face value × 100
= (Face value ÷ (1 + YTM)) ÷ Face value × 100
= ($1,000 ÷ (1 + 5.6%)) ÷ ($1,000) × 100
= $946.97 ÷ $1,000 × 100
= 94.70%
Hence, the price expressed as a percentage of the face value is 94.70%
Here we assume the face value be $1,000
Presented below are a number of operational guidelines and practices that have developed over time. Select the assumption, principle, or constraint that most appropriately justifies these procedures and practices.
a. Fair value changes are not recognized in the accounting records.
b. Financial information is presented so that investors will not be misled.
c. Intangible assets are amortized over periods benefited.
d. Agricultural companies use fair value for purposes of valuing crops.
e. Each enterprise is kept as a unit distinct from its owner or owners.
f. All significant post-balance-sheet events are disclosed.
g. Revenue is recorded when the product is delivered.
Answer:
a. Fair value changes are not recognized in the accounting records.
Appropriate Selection: Historical Cost Principle
b. Financial information is presented so that investors will not be misled.
Appropriate Selection: Full Disclosure Principle
c. Intangible assets are amortized over periods benefited.
Appropriate Selection: Expense Recognition Principle
d. Agricultural companies use fair value for purposes of valuing crops.
Appropriate Selection: Measurement Principle
e. Each enterprise is kept as a unit distinct from its owner or owners.
Appropriate Selection: Economic entity assumption
f. All significant post-balance-sheet events are disclosed.
Appropriate Selection: Full Disclosure Principle
g. Revenue is recorded when the product is delivered.
Appropriate Selection: Revenue Recognition Principle
Cost of Goods Sold Section, Multiple-Step Income Statement
Based on the information that follows, prepare the cost of goods sold section of a multiple-step income statement.
Merchandise Inventory, January 1, 20-- $37,000
Estimated Returns Inventory, January 1, 20-- 1,000
Purchases 102,000
Purchases Returns and Allowances 4,200
Purchases Discounts 2,040
Freight-In 800
Merchandise Inventory, December 31, 20-- 30,500
Estimated Returns Inventory, December 31, 20-- 1,500
Income Statement
For Year Ended December 31, 20--
Cost of goods sold:
$
$
$
$
$
$
$
Cost of goods sold $
Answer and Explanation:
The preparation of the cost of goods sold section of a multiple-step income statement is presented below:
Cost of goods section
Multiple-income statement
Opening inventory $37,000
Estimated return inventory $1,000
Purchase $102,000
Less purchase returns -$4,200
Less: Purchase discount -$2,040
Add: Freight in $800
Less: closing inventory -$30,500
Less: estimated return inventory -$1,500
Cost of goods sold $102,560
Catherine Jones has determined the following information about her own financial situation. Her checking account is worth $750 and her savings account is worth $1,900. She owns her own home that has a market value of $91,000. She has furniture and appliances worth $11,000 and a laptop worth $3,300. She has a car worth $11,500. She has recently purchased a mutual fund worth $5,500 and she has a retirement account worth $37,000. What is the total value of her assets
Answer:
$150,450
Explanation:
With regards to the above, her assets are: checking account, savings account, Home, furniture and appliances, laptop, mutual fund, car and retirement account.
= $750 + $1,900 + $91,000 + $11,000 + $3,300 + $5,500 + $37,000
= $150,450
Therefore, the total value of her asset is $150,450
A review of Parson Corporation's accounting records found that at a volume of 90,000 units, the variable and fixed cost per unit amounted to $8 and $4, respectively. On the basis of this information, what amount of total cost would Parson anticipate at a volume of 85,000 units
Answer:
Total cost= $1,040,000
Explanation:
For 90,000 units:
Unitary variable cost= $8
Unitary fixed cost= $4
First, we need to calculate the total fixed cost:
Total fixed cost= 4*90,000= $360,000
Now, we can determine the total cost for 85,000 units:
Total cost= 85,000*8 + 360,000
Total cost= $1,040,000
A company uses a perpetual inventory system. The company began its fiscal year with inventory of $998,000. Purchases of merchandise on account during the year totaled $3,124,089. Merchandise costing $3,456,980 was sold on account for $6,909,879. Prepare the journal entries to record these transactions.
Answer:
Date Account Titles and Explanation Debit Credit
Inventory $3,124,089
Account payable $3,124,089
(To record purchase of merchandise inventory)
Account receivables $6,909,879
Sales revenues $6,909,879
(To record sales on account)
Cost of goods sold $3,456,980
Inventory $3,456,980
(To record the cost of sales)
Beta Alpha Psi, the accounting honorary fraternity, held a homecoming party. The fraternity expected attendance of 80 persons and prepared the following budget: Room rental .. $ 170 Food ....... 660 Entertainment .. 570 Decorations ... 210 Total ...... $1,610 After Beta Alpha Psi paid all the bills for the party, the total cost came to $1,885 or $275 over budget. Details are $170 for room rental; $875 for food; $570 for entertainment; and $270 for decorations. Ninety-six persons attended the party. 1. Prepare a performance report for the party that shows how actual costs differed from the budget. That is, include in your report the budgeted amounts, actual amounts, and variances. 2. Suppose the fraternity uses a management-by-exception rule. Which costs deserve further examination
Answer:
Beta Alpha Psi
1. Performance Report for the party:
Budget Actual Variance
Expected attendance (persons) 80 96 16
Room rental .. $ 170 $170 $0
Food ....... 660 875 $215 U
Entertainment .. 570 570 $0
Decorations ... 210 270 $60 U
Total ...... $1,610 $1,885 $275 U
2. The costs that deserve further examination are Food and Decorations. The party overspent on these items.
Explanation:
Since 96 persons attended the party, the food cost should have been = $792 ($660/80 * 96), which is the flexible budget cost. The cost of decorations should have remained $210 unless there were improper estimates of the items required for the decorations and the size of the party venue.
In a month, Carlos can produce a maximum of either 30 bushels of pears or 15 bushels of apples, or any linear combination in between. Similarly, Donna can produce a maximum of either 20 bushels of pears or 5 bushels of apples, or any linear combination in between.
a. What is the opportunity cost for Carlos to produce one more bushel of apples in terms of pears?
b. What is the opportunity cost for Donna to produce one more bushel of apples in terms of pears?
c. What would Donna and Carlos agree to as acceptable terms of trade?
Answer:
a. What is the opportunity cost for Carlos to produce one more bushel of apples in terms of pears?
opportunity cost to produce 1 more bushel of apples = 30 / 15 = 2 bushels of pears
b. What is the opportunity cost for Donna to produce one more bushel of apples in terms of pears?
opportunity cost to produce 1 more bushel of apples = 20 / 5 = 4 bushels of pears
c. What would Donna and Carlos agree to as acceptable terms of trade?
Donna has a comparative advantage in the production of pears, so she should produce pears and exchange them for apples produced by Carlos.
Any range between 1-2 pears (higher than 1, but lower than 2) exchanged for every apple would result in mutually beneficial trade.
What are Apple’s dollar amounts for assets, liabilities, and equity at September 29, 2018? Confirm that the accounting equation holds in this case. Assets = Liabilities + Equity Answer Answer Answer Round to one decimal place (i.e. 34.5%) What percent of Apple’s assets is financed from creditor financing sources?
Answer:
70.7%
Explanation:
Note: The full question is attached as picture below
Percent of Apple's assets is financed from creditor financing sources = Liabilities / Assets
Percent of Apple's assets is financed from creditor financing sources = $258,578 / $365,725
Percent of Apple's assets is financed from creditor financing sources = 0.70702851
Percent of Apple's assets is financed from creditor financing sources = 70.7%
The 2017 Annual Report of Tootsie Roll Industries contains the following information.
(in millions) December 31, 2017 December 31, 2016
Total assets $930.9 $920.1
Total liabilities 197.1 208.6
Net sales 515.7 517.4
Net income 80.7 67.2
Compute the following ratios for Tootsie Roll for 2017.
(a) Asset turnover (Round answer to 3 decimal places, e.g. 0.851 times.)
(b) Return on assets (Round answer to 2 decimal places, e.g. 4.87%.)
(c) Profit margin on sales (Round answer to 2 decimal places, e.g. 4.87%.)
Answer:
1.108 times
8.66%
16%
Explanation:
A. 2017 Asset turnover
Net sales / Average total assets
= 515.7/[(930.9 + 0)/2]
= 515.7/465.45
= 1.108 times
B. Return on assets
Net income/Total assets
= 80.7/930.9
= 0.0866 × 100
= 8.669%
C. Profit margin on sales
= Net income/Net sales
= 80.7/515.7
= 0.16 × 100
= 16%
Devon Harris Company sells 10% bonds having a maturity value of $2,000,000 for $1,855,816. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1. Set up a schedule of interest expense and discount amortization under the straight-line method
Answer:
Devon Harris Company
Schedule of Interest Expense and Discount Amortization under the straight-line method:
Time Cash Interest Interest Expense Amortization Carrying Amount
0 N/A N/A N/A $1,855,816
1 $200,000 $228,836.80 $28,836.80 $1,884,652.60
2 $200,000 $228,836.80 $28,836.80 $1,913,489.40
3 $200,000 $228,836.80 $28,836.80 $1,942,326.20
4 $200,000 $228,836.80 $28,836.80 $1,971,163.00
5 $200,000 $228,836.80 $28,837.00 $2,000,000
Explanation:
a) Data and Calculations:
10% Bonds' maturity value = $2,000,000
Bonds sales value = $1,855,816
Total discount = $144,184
Annual Interest = $200,000 ($2,000,000 * 10%)
Maturity period = 5 years (January 1, 2020 to January 1, 2025)
Annual amortization of discount = $28,836.80 ($144,184/5)
Total interest cost with amortized discount each year = $228,836.80
b) Under the straight line method, the premium or discount on the bond is amortized in equal amounts over the life of the bond, as demonstrated above.
Based on the information given, it should be noted that the Cash Interest, Discount amortized and Interest Expenses will be $20,000, $28836.80, and $228836.80 respectively.
Interest expenseFrom the information given, the following can be calculated:
Discount on issue = $2000000 - $1855816 = $144184
Discount to be amortized on each interest date = $144184 / 5 = $28836.80
Cash interest annual = $2000000 * 10% = $200000
Therefore, the Cash Interest, Discount amortized and Interest Expenses from 2020 to 2025 will be $20,000, $28836.80, and $228836.80 respectively.
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Stoneside Inc. has provided you with the following information for its Manufacturing Overhead account at the end of the period. Actual manufacturing overhead costs incurred total $31,910. The company applied manufacturing overhead cost in the amount of $28,900. What is the overapplied or underapplied manufacturing overhead
Answer:
Under applied overhead of $3,010
Explanation:
Actual manufacturing overhead
$31,910
Less:
Applied manufacturing overhead
($28,900)
Under applied overhead
$3,010
The difference between actual overhead incurred and the overhead applied is under applied or over applied manufacturing overhead.
With regards to the above, it is under applied manufacturing overhead because applied overhead is less than actual overhead.
Wings Co. budgeted $555,600 manufacturing direct wages, 2,315 direct labor hours, and had the following manufacturing overhead:
Overhead Cost Pool - Budgeted O/H $ - Budgeted Level for Cost Driver - O/H Cost Driver
Materials Handling $160,000 3,200 lbs. Material Weight
Machine Setup 13,200 390 S/U�s # of S/Us
Machine Repair 1,380 30,000 Mach. Hrs Machine Hrs.
Inspections 10,560 160 Inspections # of Inspections
Requirements for Job #971 which included 4 Units of Production:
D/L Hours = 20 Hours
D/Mat�ls = 130 lbs.
Machine S/U = 30 Set-ups
Machine Hrs. = 15,000 Machine Hours
Inspections = 15 Inspections.
Using ABC, the materials handling overhead cost assigned to Job #971 is:______.
a. $2,300.
b. $990.
c. $6,500.
d. $690.
e. $1,020.
Answer:
c. $6,500.
Explanation:
The computation of the material cost assigned to Job 971 is as follows:
= Budgeted Overhead × Material Weight for Job 971 ÷ Total Weight
= $160,000 × 130 ÷ 3200
=$6,500
Hence, the material cost assigned to Job 971 is $6,500
Therefore the correct option is c.
A market is in equilibrium when A. the government sets the price high enough so that all producers can make profits. B. the government sets the price low enough so that all consumers can afford to purchase as much of the product as they want. C. there is a surplus of the product. D. the price is such that the amount consumers want to buy equals the amount producers want to sell. g
Answer:
D. the price is such that the amount consumers want to buy equals the amount producers want to sell.
Explanation:
A market is in equilibrium when the price is such that the amount consumers want to buy equals the amount producers want to sell.
Generally, a market is considered to be at equilibrium when the quantity of goods and services supplied by the producer is equal to the quantity of goods and services demanded by the consumers.
A direct opposite of this phenomenon is market failure. Market failure is when the market fails to produce the efficient level of output.
This ultimately implies that, a market failure arises when there is inefficiency in the distribution or allocation of goods and services in a free market. Thus, the demand of the consumer of these goods and services are not being met with the level of supply (output) required i.e the forces of demand and supply are not efficient in producing the level of output required by the economy.
Some of the causes of market failure are imperfect information, monopoly, oligopoly, externalities etc.
The purpose of growth accounting is to estimate the contribution each component of the aggregate production function makes to overall economic growth. estimate the growth rate of an economy. use the change in total factor productivity to estimate the growth rate of an economy. estimate the extent to which growing costs are affecting the overall performance of an economy.
Answer:
Estimate the contribution each component of the aggregate production function makes to overall economic growth
Explanation:
Growth accounting is a quantitative tool used to estimate the contribution each component of the aggregate production function makes to overall economic growth.
Growth accounting was first developed by Robert Solow.
The growth accounting equation is :
Capital Growth*(Weight of Capital's Contribution) + Labour Growth*(Weight of Labour's Contribution) + Technological Advancement
Barnett Products manufactures three types of remote-control devices: Economy, Standard, and Deluxe. The company, which uses activity-based costing, has identified five activities (and related cost drivers). Each activity, its budgeted cost, and related cost driver is identified below.
Activity Cost Cost Driver
Material handling $225,000 Number of parts
Material insertion 2,475,000 Number of parts
Automated machinery 840,000 Machine hours
Finishing 170,000 Direct labor hours
Packaging 170,000 Orders shipped
Total $3,880,000
The following information pertains to the three product lines for next year:
Economy Standard Deluxe
Units to be produced 10,000 5,000 2,000
Orders to be shipped 1,000 500 200
Number of parts per unit 10 15 25
Machine hours per unit 1 3 5
Labor hours per unit 2 2 2
Required:
a. What is Barnett's pool rate for the material-handling activity?
b. Under Barnett's activity-based costing system, what is the per-unit overhead cost of Economy?
Solution :
Particulars Economy Standard Delux Total
Units produced (a) 10000 5000 2000 17000
Orders shipped (b) 1000 500 200 1700
No. of orders per unit (c) 10 15 25
Total no. of parts (c)x(a) 100000 75000 50000 225000
Machine hrs per unit (d) 1 3 5
Total machines hrs (d)x(a) 10000 15000 10000 35000
Lab hrs per unit (e) 2 2 2
Total lab hrs (e)x(a) 20000 10000 4000 34000
Pool rate for material handling activity [tex]$=\frac{\text{total material handling cost}}{\text{total no. of parts produced}}$[/tex]
[tex]$=\frac{225000}{225000}$[/tex]
= $ 1
a). Material handling cost per part [tex]$=\frac{\text{total material handling cost}}{\text{total no. of parts produced}}$[/tex]
[tex]$=\frac{225000}{225000}$[/tex]
= $ 1
b). Material insertion cost per part [tex]$=\frac{\text{total material insertion cost}}{\text{total no. of parts produced}}$[/tex]
[tex]$=\frac{2475000}{225000}$[/tex]
= $ 11
c). Cost per machine hours [tex]$=\frac{\text{total machine cost}}{\text{total machine hours}}$[/tex]
[tex]$=\frac{840000}{35000}$[/tex]
= $ 24
d). Cost per labor hours [tex]$=\frac{\text{total finishing cost}}{\text{total labor hours}}$[/tex]
[tex]$=\frac{170000}{34000}$[/tex]
= $ 5
e). Cost per unit shipped [tex]$=\frac{\text{total packaging cost}}{\text{total no. of units shipped}}$[/tex]
[tex]$=\frac{17000}{1700}$[/tex]
= $ 10
Cost per unit overhead = (1 x 10) + (11 x 10) + (24 x 1) + (5 x 2) + (10 x 1)
= $ 164
How do state and federal courts differ in the United States?
Answer:The primary distinction is that state and local courts are authorized to hear cases involving the laws and citizens of their state or city, while federal courts decide lawsuits between citizens of different states, cases against the United States, and cases involving specific federal laws.
Explanation:
Application of career management model
Summary of Preferred work
1. Components of PWE
2. Tasks and activities more interesting to you
3. Significant talents you want to express at work
4. Importance of independence at work
5. Importance of job security
6. Relationship between work and other parts of life
7. Physical work setting
On January 1, 2020, Marigold Corp. purchased a machine costing $355000. The machine is in the MACRS 5-year recovery class for tax purposes and has an estimated $74000 salvage value at the end of its economic life. It's based on half year convention. Assuming the company uses the general MACRS approach, the amount of MACRS deduction for tax purposes for the year 2020 is
Answer:
$71,000
Explanation:
Note: The MARCS Table is attached below
Depreciation for 2020 = Cost*Rate%
Depreciation for 2020 = $355000*20%
Depreciation for 2020 = $71,000.
Note: MACRS depreciation disregards the salvage value and depreciates the asset to zero over the life of the asset.
During the current year, Alpha sold inventory to Beta for $100,000. As of year end, Beta had resold only 60 percent of these intra-entity purchases. Alpha sells inventory to Beta at the same markup it uses for all of its customers. What is the total for consolidated cost of goods sold
Answer:
a. $173,000
Explanation:
Missing word "Alpha Company owns 80 percent of the voting stock of Beta Company. Alpha and Beta reported the following account information from their year-end separate financial records: Alpha Beta Inventory $95,000 $88,000 Sales Revenue 800,000 300,000 Cost of Goods Sold 600,000 180,000 During the current year, Alpha sold inventory to Beta for $100,000."
Percentage of profits Alpha charge to other customers = ($800,000 - $600,000) / $800,000 = 25% of sales
Stock held at year end by beta from the purchases made from Alpha = $100,000 * 40% =$40,000
Profit involved in stock held by beta from the purchases made from Alpha = $40,000 * 25% = $10,000
So, Value of stock of Beta = $88,000 - $10,000 = $78,000
Hence, Total for consolidated inventory = $95,000 + $78,000 = $173,000
The time management skill of knowing your limits means: A. Knowing how long it will take you to accomplish a task. B. Knowing how to accomplish a lot of objectives so you do not have to cut back C. Knowing how to do everything so you never need to say no. D. All of the above
Answer:
A. Knowing how long it will take you to accomplish a task
Explanation:
Knowing your limits refers to understanding one potential and abilities. It is recognizing one's strengths and weaknesses. The time management skill of knowing your limits refers to the ability to accurately estimates how long it will take one to accomplish a specific task. It implies that an individual is fully aware of their true potential, what they can achieve, and how long it will take them to achieve it.
Answer:
The answer is A
Explanation:
In 2019, Martin had two employers during the year. Both employers withheld Social Security tax from his wages in the amounts of $4,314.05 and $4,274.75. What amount can Martin claim as a credit against his income tax when he files his income tax return
Answer:
$1241.80
Explanation:
From the given information:
the social security taxes withheld by both employers are $4314.05 and $4274.75 respectively.
Let's recall that the maximum amount the IRS can also withhold from wages is $7347.00.
Therefore;
the required amount that can be claimed as a credit is:
= $4,314.05 + $4,274.75 - $7347.00
= $1241.80
Answer:
$349
Explanation:
1) 4,314.05 + 4,274.75 = 8,588.80
2) Social security withheld max: 132,900 * 6.2% = 8,239.80
3) 8,588.80 - 8,239.80 = 349
Universal Manufacturing uses a weighted-average process-costing system. All materials are introduced at the start of manufacturing, and conversion costs are incurred evenly throughout the process. The company's beginning and ending work-in-process inventories totaled 10,000 units and 15,000 units, respectively, with the latter units being 2/3 complete at the end of the period. Universal started 30,000 units into production and completed 25,000 units. Manufacturing costs follow.
Beginning work in process: Materials, $60,000; conversion cost, $150,000
Current costs: Materials, $180,000; conversion cost, $480,000
Universal's equivalent-unit cost for conversion cost is:____.
a. $4.50.
b. $6.00.
c. $8.00.
d. $9.60.
e. some other amount.
Answer: b. $6.00
Explanation:
Equivalent Cost Per Unit = Total Material Cost/Materials Equivalent Units
Materials Equivalent Units
= Opening inventory + Units completed + Ending inventory
= 10,000 + 25,000 + 5,000
= 40,000 units
Equivalent cost per unit = (Beginning WIP Materials + Current costs) / Materials EUP
= (60,000 + 180,000) / 40,000
= $6.00
Note: Ending materials inventory = Units started - Units completed
On March 2nd, a fire destroyed the entire inventory stored in a warehouse for the Madison, Inc. The following information is available from the records of the company's periodic inventory system: Beginning inventory 1/01/2020 $989,000 Purchases through 3/02/2020 $784,329 Sales through 3/02/2020 $1,345,789 Gross Profit Ratio 33% Estimate the cost of the inventory destroyed by the fire using the Gross Profit Method.
Answer:
Madison, Inc.
The cost of the inventory destroyed by the fire using the Gross Profit Method is:
$871,650
Explanation:
a) Data and Calculations:
Beginning inventory 1/01/2020 = $989,000
Purchases through 3/02/2020 = $784,329
Sales through 3/02/2020 = $1,345,789
Gross Profit Ratio 33%
Gross profit = $444,110 ($1,345,789 * 33%)
Cost of goods sold = $901,679 ($1,345,789 - $444,110)
Cost of goods available for sale = $1,773,329 ($989,000 + $784,329)
Estimate of the cost of the inventory destroyed by the fire = cost of goods available for sale minus the cost of goods sold
= $871,650 ($1,773,329 - $901,679)
b) The estimate of the cost of the inventory destroyed by the fire is equal to the cost of the ending inventory. It is obtained by subtracting the cost of goods sold from the cost of goods available for sale for the period. The gross profit margin is the difference between the Sales Revenue and the Cost of goods sold. When expressed as a percentage of Sales Revenue, the resulting figure is called the gross profit margin ratio.
choosing a computer that costs_____ instead of one that cost ____
means that youll have less money available for other purchases
a 1700 1900
b 1700 1800
c 1800 1700
d 1800 1900
The balance in the equipment account is $3,150,000, and the balance in the accumulated depreciation—equipment account is $2,075,000. a. What is the book value of the equipment? $fill in the blank 1 b. Does the balance in the accumulated depreciation account mean that the equipment's loss of value is $2,075,000? , because depreciation is an allocation of the of the equipment to the periods benefiting from its use.
Answer:
A. $1,075,000
B. No
Explanation:
A. Calculation for the book value of the equipment
Using this formula
Book value of the equipment=Equipment account -Accumulated depreciation—equipment account
Let plug in the formula
Book value of the equipment= $3,150,000-$2,075,000
Book value of the equipment=$1,075,000
Therefore the book value of the equipment will be $1,075,000
(b) NO the balance in the accumulated depreciation account does NOT mean that the equipment's loss of value is the amount of $2,075,000.
9. Assume that Cane expects to produce and sell 87,000 Alphas during the current year. A supplier has offered to manufacture and deliver 87,000 Alphas to Cane for a price of $108 per unit. What is the financial advantage (disadvantage) of buying 87,000 units from the supplier instead of making those units?
Answer: Financial disadvantage of -$863,000
Explanation:
If they made the 87 thousand units themselves, they would incur a cost of:
= 87,000 * (Direct labor + Direct materials + Variable manufacturing overhead) + Traceable fixed manufacturing overhead
= 87,000 * (23 + 24 + 22) + (23 * 110,000)
= 87,000 * 69 + 2,530,000
= $8,533,000
Traceable fixed costs are based on the total capacity of 110,000 units being produced and so will not change.
If they buy from the supplier, the cost would be:
= 108 * 87,000
= $9,396,000
Financial advantage (disadvantage) = 8,533,000 - 9,396,000
= -$863,000
[The following information applies to the questions displayed below.] The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $ 43,000 $ 52,000 Work in process 10,200 21,300 Finished goods 63,000 35,600 Activities and information for May Raw materials purchases (paid with cash) 210,000 Factory payroll (paid with cash) 345,000 Factory overhead Indirect materials 15,000 Indirect labor 80,000 Other overhead costs 120,000 Sales (received in cash) 1,400,000 Predetermined overhead rate based on direct labor cost 70 % Raw materials purchases for cash. Direct materials usage. Indirect materials usage. Prepare journal entries for the above transactions for the month of May.
Answer:
Journals have been prepared below !
Explanation:
Select the correct answer.
The restaurant manager rarely offers instructions. He expects employees to make decisions without input. He is nice and cares about them, but
they often don't have what they need at the restaurant or don't have enough people working. He is an example of a:
OA Authoritarian leader
OB. Free rein leader
OC, Democratic leader
OD. Narcissistic leader
Answer:
B.
Explanation:
Free rein leadership, also known as the Laissez-Faire style, is a type of leadership in which the manager or leader allows their employees to make decisions. In this form of leadership, the manager gives his/her employees objectives and does not provide any guidance on how to achieve those objectives.
In the given case, this restaurant manager exhibits the quality of free-rein leadership. He has set his employees off the noose to allow them to make decisions on their own.
So, option B is the correct answer.
Answer:
b, free rein leader
The following costs were for Bikeway Inc., a bicycle manufacturer that uses the high-low method: Output Fixed Costs Variable Costs Total Costs 800 $25,000 $80,000 $105,000 850 $25,000 $85,000 $110,000 900 $25,000 $90,000 $115,000 950 $25,000 $95,000 $120,000 At an output level of 1,000 bicycles, per unit total cost is calculated to be: $101.50. $126.32. $125.00. $100.00. $131.58.
Answer:
Total cost per unit = $125.00
Explanation:
The fixed cost is a cost that remains fixed regardless of the output level in the short run. This means that the fixed cost in the given question will remain fixed at a level of $25000.
The variable cost is a cost that varies, in total, with changes in output level. However, the per unit variable cost usually remains fixed even with changing output level. This assumption holds for the question and the per unit variable cost is,
Variable cost per unit = 80000 / 800 = $100
The total cost at output level of 1000 bicycles will be,
Total cost per unit = 100 + (25000 / 1000)
Total cost per unit = $125.00
