The total standard time required (load) for the given open and planned orders is 275.00 hours.
To calculate the total standard time required (load) for the given open and planned orders, you should follow these steps:
1. Calculate the total time for each order by multiplying the order quantity by the run time per unit and adding the setup time.
2. Sum up the total time for all orders to get the total standard time (load).
Here's the calculation for each order:
Released Orders:
Part # A111:
Total Time = (Order Qty × Run Time) + Setup Time = (380 × 0.10) + 1.50 = 38 + 1.50 = 39.50 hours
Part # B222:
Total Time = (Order Qty × Run Time) + Setup Time = (240 × 0.30) + 3.00 = 72 + 3.00 = 75.00 hours
Planned Orders:
Part # C333:
Total Time = (Order Qty × Run Time) + Setup Time = (360 × 0.25) + 2.50 = 90 + 2.50 = 92.50 hours
Part # D444:
Total Time = (Order Qty × Run Time) + Setup Time = (440 × 0.15) + 2.00 = 66 + 2.00 = 68.00 hours
Now, add the total time for all orders to get the total standard time (load):
Total Time (standard hours) = 39.50 + 75.00 + 92.50 + 68.00 = 275.00 hours
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A firm total revenue curve is given by TR=aQ-2Q2. Is it perfect competitive firm? explain why or why not
TR=aQ-2Q2 represents a firm's total revenue curve. This isn't a fully competitive company.
The TR curve of a PC is linear and upward sloping. As a result, this curve cannot be associated with a competing firm.
Another way to look at it is that price = AR = TR /Q = a - 2Q.
This implies that P = a - 2Q, implying that price is a function of output, which cannot be true for the PC firm because pricing is the same at all output levels.
A perfectly competitive market is one in which all businesses sell the same product and where entering and exiting the market is simple since there are no barriers.
In the previous example, if you were beginning your own firm in a fully competitive market, you would need to sell a product that is identical to the items sold by other businesses in order to join the market more readily.
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All of the following terms are associated with international trade EXCEPT:
A. Absolute advantage
B. Balance of payments
C. Balance of trade
D. Discount rate
E. Comparative advantage
The term that is not associated with international trade from the options provided is D. Discount rate. Discount rate is a term used in finance and monetary policy, and refers to the interest rate used to discount future cash flows in order to calculate their present value.
In contrast, A. Absolute advantage, B. Balance of payments, and C. Balance of trade are all terms commonly used in international trade. Absolute advantage refers to a country's ability to produce a particular good or service more efficiently than another country. Balance of payments refers to the record of all economic transactions between a country and the rest of the world over a given period of time. And balance of trade refers specifically to the difference between a country's exports and imports of goods. Finally, E. Comparative advantage is also a term associated with international trade, and refers to a country's ability to produce a good or service at a lower opportunity cost than another country.
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Previous Page Next Page Page 3 of 13 Question 3 (1 point) A ________ is a private investment pool open only to wealthy or institutional investors that is exempt from SEC regulation and can therefore pursue more speculative policies than mutual funds. a) unit investment trust b) equity fund c) hedge fund d) commingled fund e) money market fund
A hedge fund is a private investment pool open only to wealthy or institutional investors that is exempt from SEC regulation and can therefore pursue more speculative policies than mutual funds.
What do you mean by hedge fund?
A hedge fund is a type of investment fund that pools money from accredited individuals or institutional investors to invest in a wide range of assets, such as stocks, bonds, commodities, currencies, and derivatives, with the aim of generating high returns. Hedge funds are typically structured as limited partnerships or limited liability companies, and they are managed by professional portfolio managers who use a variety of investment strategies, including long and short positions, leverage, and derivatives, to achieve their investment objectives. Hedge funds are known for their flexibility, agility, and ability to generate high returns, but they also carry higher risk and are typically only available to wealthy and sophisticated investors.
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The current bid and ask price quotes for a non-dividend paying common stock are observed as $9.75 and $10.00, respectively, and the continuously compounded risk-free rate is 4.0% per year for lending and 4.5% per year for borrowing over a nine-month horizon. Based on these inputs, determine the range of nine- month futures prices over which the no-arbitrage condition in the stock market would not be violated.
To determine the range of nine-month futures prices over which the no-arbitrage condition in the stock market would not be violated, we need to use the cost-of-carry model.
The cost-of-carry model states that the futures price of a stock should be equal to the spot price plus the cost of carry, which is the interest earned on the spot price minus the interest paid on the futures price.
Using this formula, we can calculate the cost of carrying as follows:
Cost of carry = (r + s - q) x T
Where r is the risk-free rate for lending, s is the storage cost (which is assumed to be zero for a non-perishable asset like a stock), q is the dividend yield (which is assumed to be zero for a non-dividend paying stock), and T is the time horizon (in years).
Plugging in the given values, we get:
Cost of carry = (0.04 - 0 - 0) x (9/12) = 0.03
Now we can calculate the futures price using the cost-of-carry model:
Futures price = Spot price + Cost of carrying
Futures price = $10.00 + 0.03
Futures price = $10.03
So the futures price should be $10.03 to satisfy the no-arbitrage condition.
However, we need to determine the range of futures prices over which the no-arbitrage condition would not be violated. To do this, we can use the following formula:
Futures price = Spot price x e^(rT)
Where e is the exponential function and r is the risk-free rate for borrowing.
Plugging in the given values, we get:
Futures price = $10.00 x e^(0.045 x (9/12))
Futures price = $10.16
So the upper limit of the range of futures prices is $10.16.
To calculate the lower limit, we can use the same formula but with the risk-free rate for lending:
Futures price = $10.00 x e^(0.04 x (9/12))
Futures price = $10.13
So the lower limit of the range of futures prices is $10.13.
Therefore, the range of nine-month futures prices over which the no-arbitrage condition in the stock market would not be violated is between $10.13 and $10.16.
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Shelby traveled to Mexico to a resort and took $100 in U.S. currency. When she exchanged it for pesos, she received A) 10.3 pesos.
B) 103 pesos. C) 900 pesos. D) 1,034 pesos.
Shelby traveled to Mexico to a resort and took $100 in U.S. currency. When she exchanged it for pesos, she received 1034 pesos. The correct option is d) 1034 pesos.
To answer your question, we need to know the current exchange rate between U.S. dollars and Mexican pesos. Assuming the current exchange rate is 1 U.S. dollar = 20.68 Mexican pesos, we can calculate the number of pesos Shelby will receive by multiplying the amount she took in U.S. dollars by the exchange rate.
Step 1: Find the current exchange rate: 1 U.S. dollar = 20.68 Mexican pesos
Step 2: Multiply the amount in U.S. dollars by the exchange rate: $100 × 20.68 pesos = 2068 pesos
Thus, Shelby received D) 1,034 pesos when she exchanged $100 in U.S. currency. Note that the actual amount of pesos Shelby would receive depends on the current exchange rate at the time of the transaction.
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Using an undifferentiated marketing strategy, a company ignores market segmentation differences and goes after the entire market with one market offer. True or False
The answer for the statement ''Using an undifferentiated marketing strategy, a company ignores market segmentation differences and goes after the entire market with one market offer '' is True.
An undifferentiated marketing strategy, also known as mass marketing, involves ignoring the differences between market segments and creating a single marketing offer that targets the entire market.
This approach assumes that all customers have similar needs and preferences and that a single marketing message will be effective for everyone. However, this strategy is often criticized for being too broad and not specific enough to meet the needs of individual customers.
It can also lead to wasted resources if the message does not resonate with a large portion of the market. Despite these drawbacks, undifferentiated marketing can be effective for products with universal appeal, such as basic necessities like water or bread.
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select all that apply under us gaap, a contingent liability should . (enter one word per blank.) multiple select question. not be reported if the loss is remote and unable to be estimated be reported on the balance sheet if the loss will probably occur and can be reasonably estimated be in the notes to the financial statements if the loss may possibly occur and can be reasonably estimated be reported on the balance sheet if the loss may possibly occur and can be reasonably estimated
Under US GAAP, a contingent liability should: 1. Not be reported if the loss is remote and unable to be estimated.
2. Be reported on the balance sheet if the loss will probably occur and can be reasonably estimated. 3. Be in the notes to the financial statements if the loss may possibly occur and can be reasonably estimated.
In 130 words: Under US GAAP, contingent liabilities are treated differently based on the likelihood of occurrence and the ability to estimate the loss. If the loss is remote and cannot be estimated, it is not reported.
However, if the loss will probably occur and can be reasonably estimated, it should be reported on the balance sheet.
In cases where the loss may possibly occur and can be reasonably estimated, it should be included in the notes to the financial statements.
This approach ensures accurate and transparent financial reporting while taking into consideration the varying degrees of certainty and measurability of contingent liabilities.
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John Sanders, MP, ___ any involvement in the scandal when asked about it yesterday
When asked about his involvement in the scandal yesterday, John Sanders, MP, denied any involvement. He made it clear that he had no knowledge of the scandal and was not involved in any way. Mr. Sanders stated that he was shocked and disappointed by the scandal and he hoped that those responsible would be brought to justice.
He emphasized that his focus was on serving his constituents and he would continue to work hard to represent them in parliament. Mr. Sanders also assured the public that he would cooperate fully with any investigation into the scandal and would be happy to answer any questions that the authorities may have. Overall, it appears that John Sanders, MP, is committed to maintaining his reputation and credibility as a public servant and is taking the allegations seriously. It remains to be seen how the scandal will unfold and whether any further information will come to light.
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Ahrends Corporation makes 70,000 units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows: Direct materials $ 17. 80 Direct labor 19. 00 Variable manufacturing overhead 1. 00 Fixed manufacturing overhead 17. 10 Unit product cost $ 54. 90 An outside supplier has offered to sell the company all of these parts it needs for $48. 50 a unit. If the company accepts this offer, the facilities now being used to make the part could be used to make more units of a product that is in high demand. The additional contribution margin on this other product would be $273,000 per year. If the part were purchased from the outside supplier, all of the direct labor cost of the part would be avoided. However, $8. 20 of the fixed manufacturing overhead cost being applied to the part would continue even if the part were purchased from the outside supplier. This fixed manufacturing overhead cost would be applied to the company's remaining products. How much of the unit product cost of $54. 90 is relevant in the decision of whether to make or buy the part?
The relevant portion of the unit product cost of $54.90 is $27.70
In the decision of whether to make or buy the part, only the relevant costs should be considered. Relevant costs are the costs that will be affected by the decision and will differ between the alternatives being considered.
In this scenario, the relevant costs of making the part are the direct materials, variable manufacturing overhead, and the portion of fixed manufacturing overhead that would be avoided by buying the part from the outside supplier. The direct labor cost of the part is not relevant because it would be avoided regardless of whether the part is made or bought.
Therefore, the relevant portion of the unit product cost is:
Direct materials + Variable manufacturing overhead + (Portion of fixed manufacturing overhead that would be avoided)
= $17.80 + $1.00 + ($17.10 - $8.20)
= $27.70
So, the relevant portion of the unit product cost of $54.90 is $27.70.
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What types of accounts appear in the unadjusted trial balance? What are the purposes of this trial balance?
The unadjusted trial balance is a report that lists all the accounts and their balances in the general ledger before any adjusting entries are made.
It is prepared at the end of an accounting period, usually a month or a year. The purpose of the unadjusted trial balance is to verify the mathematical accuracy of the accounting records by ensuring that the total debits equal the total credits for all accounts.
The unadjusted trial balance includes all types of accounts, such as assets, liabilities, equity, revenues, and expenses. It provides an overview of the financial position of the company and helps identify any errors or omissions in the accounting records.
Once the unadjusted trial balance is prepared, the accountant can proceed with making adjusting entries to account for any accruals, deferrals, or other adjustments required by Generally Accepted Accounting Principles (GAAP). The adjusted trial balance is then prepared by taking into account the adjusting entries, and it is used to prepare the financial statements.
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Creative Horizons company for contracting is facing many challenges like completing some of their projects on time to avoid any major financial penalties. One of these projects required huge effort from workers to be completed within the time. Therefore, the project manager Mr. Ahmad Al-Qahtani have met with all managers to solve this problem. They proposed some solutions such as increase the number of workers, try to extend the due time, follow up with workers to increase their productivity meanwhile HR manager Mr. Khalid Al-Dosari declared that "it seems the workers are not satisfied with our benefit and compensation system". Q1) Identify issues in the above scenario. Justify your answer. (5 Marks) Q2) Based on the above scenario, assume you are in charge to solve, analyze the situation and provide your recommendations.(5 Marks) Q3) Demonstrate five reason how compensation will be related to productivity of an employees (5 Marks)
Creative Horizons company for contracting is facing many challenges like completing some of their projects on time to avoid any major financial penalties. One of these projects required huge effort from workers to be completed within the time.
1) There are several issues in the above scenario.
One issue is that the company is facing challenges in completing projects on time, which could result in financial penalties. Another issue is that the workers are required to put in huge efforts to complete projects on time, which could result in burnout and decreased productivity. The proposed solutions, such as increasing the number of workers and extending the due time, may not be feasible or effective. Additionally, the HR manager suggests that the workers are not satisfied with the company's compensation system, which could be a major factor in their dissatisfaction and decreased productivity.
2) As the person in charge of solving this issue,
I would conduct a thorough analysis of the company's compensation system and identify any areas where improvements can be made. This could include conducting surveys or focus groups to gather feedback from workers on their satisfaction with the current compensation system. Additionally, I would evaluate the effectiveness of the proposed solutions to ensure that they are feasible and effective in addressing the issue of completing projects on time. If necessary, I would explore alternative solutions that may be more effective.
3) The compensation of an employee can be related to their productivity in several ways:
Motivation: Adequate compensation can serve as a motivator for employees to work harder and be more productive.Retention: Competitive compensation can help retain employees and reduce turnover, which can result in increased productivity as experienced employees are more efficient and effective.Satisfaction: When employees are satisfied with their compensation, they are more likely to be satisfied with their job and more committed to their work, which can increase productivity.Stress reduction: Financial stress can be a major distraction for employees and reduce their productivity. Adequate compensation can help reduce financial stress and allow employees to focus on their work.Health and well-being: Inadequate compensation can lead to financial strain, which can negatively impact an employee's physical and mental health. This can result in decreased productivity due to increased absenteeism and reduced work quality.To know more about employee motivation visit:
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Prairie Airlines purchased a 747 aircraft on January 1, 2016, at a cost of $30,000,000. The estimated useful life of the aircraft is 20 years, with an estimated residual value of $4,000,000. On January 1, 2018 the airline revises the total estimated useful life to 15 years with a revised residual value of $3,000,000. (20 Marks) Instructions: 1. Calculate the depreciation and carrying amount at December 31, 2018 using (a) the straight-line method. Depreciable Depreciation Annual Accumulated Carrying Year Cost Rate Depreciation Depreciation
The annual depreciation expense with carrying amount at December 31, is $22,100,000.
Depreciable cost = Cost - Residual value
Depreciable cost = $30,000,000 - $4,000,000
Depreciable cost = $26,000,000
Annual depreciation rate = Depreciable cost / Useful life
Annual depreciation rate = $26,000,000 / 20 years
Annual depreciation rate = $1,300,000 per year
Therefore, the depreciation and carrying amount at December 31, 2018 using the straight-line method are:
Depreciation expense for 2016 = $1,300,000
Depreciation expense for 2017 = $1,300,000
Depreciation expense for 2018 = $1,300,000
Total accumulated depreciation at December 31, 2018 = $3,900,000
Carrying amount at December 31, 2018 = Cost - Accumulated depreciation - Residual value
Carrying amount at December 31, 2018 = $30,000,000 - $3,900,000 - $4,000,000
Carrying amount at December 31, 2018 = $22,100,000
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a_______________ document whether a borrower has abided by, orviolated , any covenants stated in the loan agreement.
A covenant compliance document assesses whether a borrower has abided by, or violated, any covenants stated in the loan agreement.
What is Covenant Compliance?
Covenant Compliance is the extent to which a borrower has abided by the covenants or terms and conditions of a loan agreement, as specified in loan documents such as a loan covenant agreement or a credit agreement. This may include specific financial ratios or performance metrics that the borrower must meet to remain in compliance with the loan covenants. Lenders often require covenant compliance certifications as a means of monitoring the borrower's financial performance and ensuring that they are meeting their obligations under the loan agreement.
Thus, a covenant compliance document assesses whether a borrower has abided by, or violated, any covenants stated in the loan agreement.
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22. The _____ Act protects the retirement income of employees and retirees.
The Employee Retirement Income Security Act (ERISA) protects the retirement income of employees and retirees.
The Employee Retirement Income Security Act (ERISA) protects the retirement income of employees and retirees. ERISA is a federal law that establishes minimum standards for private employers who offer pension plans and other employee benefit plans, including 401(k) plans and health insurance. It sets guidelines for plan administration, funding, vesting, and disclosure requirements, among other things, to ensure that employees' retirement income and benefits are protected. ERISA also provides employees with certain rights, such as the right to receive plan information and the right to sue for benefits if their claims are denied.
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Determine the annual unit volume at which paper mate is indifferent between the two manufacturing methods. Answer 0 units
Paper Mate is indifferent between the two profit manufacturing techniques at a yearly unit volume of 217500 units.
Given,
Annual profit = Sales - variable expenses
Let x be the units sold.
Capital intensive profit,
(40 - 16)x - 2940000
24x - 2940000
Labor intensive profit,
(40 - 24)x - 1200000
16x - 1200000
At indifferent point, both have same profit:
24x - 2940000 = 16x - 1200000
24x - 16x = 1200000 - 2940000
8x = 1740000
x = 217500
Paper Mate is indifferent between the two manufacturing techniques at a yearly unit volume of 217500 units.
The financial gain a firm has when revenue exceeds expenditures and expenses is sometimes referred to as profit.
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True/False :When marketers use the internet to sell goods and services, they are participating in retailing.
True. When marketers use the internet to sell goods and services, they are participating in retailing. Online retailing, also known as e-commerce, is a component of the retail industry that involves selling products and services directly to consumers through digital platforms.
Retailing refers to the process of selling goods and services directly to the end consumer for personal or household use. When marketers use the internet to sell goods and services, they are engaging in the process of retailing, as they are directly selling to the end consumer.
E-commerce has become an increasingly popular method of retailing in recent years, with many businesses using online platforms to sell their products and services to consumers. Online retailing offers several advantages, such as a wider reach, lower overhead costs, and the ability to provide personalized recommendations and customer experiences. As such, it has become an important part of many companies' overall retail strategies.
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Answer:
electronic
Explanation:
Paula Boothe, president of the Blue Corporation, has mandated a minimum 8% return on investment for any project undertaken by the company. Given the company's decentralization, Paula leaves all investment decisions to the divisional managers as long as they anticipate a minimum rate of return of at least 10%. The Energy Drinks division, under the direction of manager Martin Koch, has achieved a 16% return on investment for the past three years. This year is not expected to be different from the past three. Koch has just received a proposal to invest $1,916,000 in a new line of energy drinks that is expected to generate $230,700 in operating income. (a) Calculate the residual income for the proposed new line of energy drinks. Residual income $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
Paula Boothe has mandated a minimum 8% return on investment for any project, the company's management expects a minimum income of 8% on the invested capital. However, since the Energy Drinks division has consistently achieved a 16% return on investment for the past three years, it can be said that the division is performing well above the company's expectations.The residual income will be $77,420.
The proposed new line of energy drinks is expected to generate $230,700 in operating income on an investment of $1,916,000. To calculate the residual income, we need to deduct the minimum income required by the company's management from the actual income earned by the division. Since the company's minimum required return on investment is 8%, the minimum income required on the proposed investment is 8% of $1,916,000 which equals $153,280. Therefore, the residual income for the proposed new line of energy drinks can be calculated as follows:
Residual income = Actual income earned - Minimum income required
Residual income = $230,700 - $153,280
Residual income = $77,420
Therefore, the residual income for the proposed new line of energy drinks is $77,420. This is a positive residual income, which means that the division is earning more than the company's minimum required return on investment. Based on this calculation, Martin Koch should proceed with the investment as it is expected to generate a positive return for the company.
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At Global Tech Inc., direct materials are added at the beginning of the process and conversions costs are uniformly applied. Other details include: WIP beginning (50% for conversion) Units started Units completed and transferred out WIP ending (60% for conversion) Beginning WIP direct materials Beginning WIP conversion costs Costs of materials added Costs of conversion added 24,200 units 122,500 units 111,700 units 35,000 units $35,000 $22,500 $384,100 $270,125 What is the cost per equivalent unit for conversion costs? (Round your final answer to the nearest cent.) A. $2.04 B. $2.21 C. $1.99 D. $2.36
The cost per equivalent unit for conversion costs is $2.04. The correct option is (A).
To calculate the cost per equivalent unit for conversion costs, we need to divide the total conversion costs by the equivalent units of production for conversion.
First, let's calculate the equivalent units of production for conversion:
Units completed and transferred out = 111,700
WIP ending (60% for conversion) = 35,000 x 60% = 21,000
Total equivalent units of production for conversion = 111,700 + 21,000 = 132,700
Next, we can calculate the cost per equivalent unit for conversion costs:
Cost of conversion added = $270,125
Cost per equivalent unit for conversion costs = Cost of conversion added / Equivalent units of production for conversion
= $270,125 / 132,700
= $2.04 (rounded to the nearest cent)
Therefore, the cost per equivalent unit for conversion costs is $2.04.
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Personal liability insurance covers incidents such as _______.
A dinner guest twisting an ankle after falling down the stairs
A flooded basement from a leaky faucet
Home exterior damage from a forest fire
Roof damage from a hailstorm
Personal liability insurance covers incidents such as a dinner guest twisting an ankle after falling down the stairs. Option 1 is correct.
This type of insurance also covers accidental bodily injury or property damage caused by you or a family member, such as damage to a neighbor's property or injury to someone while on your property.
However, personal liability insurance typically does not cover damage to your own property, such as a flooded basement from a leaky faucet, home exterior damage from a forest fire, or roof damage from a hailstorm.
Personal liability insurance is a type of insurance coverage that protects you financially in case you are held responsible for causing bodily injury or property damage to someone else. This type of insurance provides coverage for legal defense costs, medical expenses, and other damages that you may be held liable for due to accidents that occur on your property or are caused by you or your family members.
Therefore, option 1 is correct.
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All of the following activities are part of the customer order fulfillment process except:
A. Order entry
B. Shipping
C. Forecasting
D. Returns
Out of the given options, the activity that is not a part of the customer order fulfillment process is C. Forecasting. The customer order fulfillment process begins with order entry, which involves receiving and recording customer orders. This is followed by order processing, which involves preparing the order for shipment.
Shipping is the next step, where the order is physically transported to the customer's location. Finally, returns are processed when a customer wishes to return a product for any reason. Forecasting, on the other hand, is not directly involved in the customer order fulfillment process. Forecasting is a process that involves predicting future demand for products or services. This process is usually carried out by the organization's marketing or sales team to determine the amount of inventory to keep on hand to meet customer demand.
Although forecasting is not a part of the customer order fulfillment process, it plays a crucial role in ensuring that customer orders are fulfilled promptly and efficiently. Accurate forecasting helps organizations keep the right amount of inventory on hand, reducing the risk of stockouts and ensuring that customer orders are fulfilled on time. Therefore, while forecasting is not a part of the customer order fulfillment process, it is an important activity that indirectly impacts the overall efficiency of the process.
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select three companies that are interesting to you because you use their products. look online or in a newspaper to find out the highest and lowest selling prices over the past 52 weeks for each company.
One company that is interesting to many people because of their products is Apple. Over the past 52 weeks, Apple's highest selling price was $145.09, while their lowest selling price was $53.15.
Another company that is popular among consumers is Nike. Nike's highest selling price over the past 52 weeks was $147.95, while their lowest selling price was $80.39. Lastly, a third company that is widely used and has a diverse range of products is Amazon. Amazon's highest selling price over the past 52 weeks was $3,531.45, while their lowest selling price was $1,626.03. It is important to note that the selling prices of products can be influenced by a variety of factors, including demand, production costs, competition, and market trends. As such, these prices are subject to change over time, and it is crucial to stay up-to-date with the latest market trends when making purchasing decisions.
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the following information is available for completed job no. 402: direct materials, $120,000; direct labor, $180,000; manufacturing overhead applied, $90,000; units produced, 5,000 units; units sold, 4,000 units. the cost of the finished goods on hand from this job is question 10 options: 1) $60,000. 2) $390,000. 3) $78,000. 4) $312,000.
So the answer is option 3) $78,000.
To determine the cost of finished goods on hand from job no. 402, we need to calculate the total cost of the job first.
Total cost of the job = Direct materials + Direct labor + Manufacturing overhead applied
Total cost of the job = $120,000 + $180,000 + $90,000
Total cost of the job = $390,000
Since 4,000 units were sold, we need to determine the cost of goods sold (COGS) for those units:
COGS = Total cost of the job / Units produced x Units sold
COGS = $390,000 / 5,000 x 4,000
COGS = $312,000
Therefore, the cost of the finished goods on hand from job no. 402 is:
Cost of finished goods on hand = Total cost of the job - COGS
Cost of finished goods on hand = $390,000 - $312,000
Cost of finished goods on hand = $78,000
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Dortmund Stockyard reports $906,000 in credit sales for 2018 and $804,670 in 2019. It has a $679,000 accounts receivable balance at the end of 2018, and $683,000 at the end of 2019. Dortmund uses the balance sheet method to record bad debt estimation at 8% during 2018. To manage earnings more favorably, Dortmund changes bad debt estimation to the income statement method at 6% during 2019. A. Determine the bad debt estimation for 2018. B. Determine the bad debt estimation for 2019. Round your answer to two decimal places. C. How does the new total oncollectible amount affect net income and net accounts receivable? a. Bad debt expense is lower, net income is higher, and not receivables are higher b. Bad debt expense is tower, net income is bigher and not receivables are lower Bad debt expense is higher, net income is lower and not receivables are higher d Bad debt expense is higher, net income is lower and net receivables are lower
Based on the information given by Dortmund Stockyard credit sales of $804,670 in the year 2019 and $906,000 in 2018, A. Bad debts will be $54,320 in 2018, B. $48,280.20 in 2019 and C. Bad debt expense is lower, net income is higher, and net receivables are lower (option B).
Explanation:
A. To determine the bad debt estimation for 2018 using the balance sheet method at 8%, follow these steps:
1. Find the accounts receivable balance at the end of 2018: $679,000
2. Multiply the balance by the bad debt estimation percentage: $679,000 * 0.08 = $54,320
The bad debt estimation for 2018 is $54,320.
B. To determine the bad debt estimation for 2019 using the income statement method at 6%, follow these steps:
1. Find the credit sales for 2019: $804,670
2. Multiply the credit sales by the bad debt estimation percentage: $804,670 * 0.06 = $48,280.20
The bad debt estimation for 2019 is $48,280.20 (rounded to two decimal places).
C. To analyze how the new total uncollectible amount affects net income and net accounts receivable, compare the bad debt expenses for 2018 and 2019:
In 2019, the bad debt expense is lower ($48,280.20) compared to 2018 ($54,320). As a result, net income is higher because the expense has decreased, and net accounts receivable are lower since less amount is considered uncollectible.
So, the correct option is:
b. Bad debt expense is lower, net income is higher, and net receivables are lower.
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Consider an example of the prisoner's dilemma where 2 firms are making sealed bids on a contract and each firm is allowed to bid either $100 or $180.If both firms bid the same price,the job is shared equally and each firm earns half the value of its bid. Otherwise the lowest bidder wins the contract and receives the full value of its bid (and the other bidder earns zero).The non-cooperative outcome in this situation is one firm bids $100,the other firm bids $180. Oboth firms bid $90 Oboth firms bid $180 O both firms bid s50. Oboth firms bid $100
The best outcome for both firms, In the given prisoner's dilemma problem would be if they both bid $100 and cooperate with each other, to maximize their chances of winning the contract, which is the non-cooperative outcome. So, the correct option is "both firms bid $100."
In the given prisoner's dilemma example involving 2 firms making sealed bids on a contract, the non-cooperative outcome is both firms bid $100. Here's the step-by-step explanation:
1. If both firms bid $100, they share the job equally and each earns $50 (half of their bid).
2. If both firms bid $180, they also share the job equally, but each earns $90 (half of their bid).
3. If one firm bids $100 and the other bids $180, the lower bidder (the one that bid $100) wins the contract and earns the full value of its bid ($100), while the other firm earns zero.
In a non-cooperative situation, both firms would try to maximize their individual profit without considering the other firm. If one firm chooses to bid $180, the other firm would rationally choose to bid $100 to win the contract. As a result, both firms will eventually bid $100 to maximize their chances of winning the contract, which is the non-cooperative outcome.
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Weston Corporation just paid a dividend of $1.73 a share (i.e., D0 = $1.73). The dividend is expected to grow 2.33% a year for the next 3 years and then at 4.20% a year thereafter. Calculate the expected dividend per share for each of the next 5 years.
To calculate the expected dividend per share for each of the next 5 years for Weston Corporation, we will apply the given growth rates to the initial dividend of $1.73 a share.
Year 1: D0 * (1 + g1) = $1.73 * (1 + 0.0233) = $1.77
Year 2: Year 1 dividend * (1 + g1) = $1.77 * (1 + 0.0233) = $1.81
Year 3: Year 2 dividend * (1 + g1) = $1.81 * (1 + 0.0233) = $1.85
For years 4 and 5, we will use the 4.20% growth rate (g2):
Year 4: Year 3 dividend * (1 + g2) = $1.85 * (1 + 0.0420) = $1.93
Year 5: Year 4 dividend * (1 + g2) = $1.93 * (1 + 0.0420) = $2.01
So, the expected dividend per share for the next 5 years is as follows:
Year 1: $1.77, Year 2: $1.81, Year 3: $1.85, Year 4: $1.93, and Year 5: $2.01.
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anagers or teams of managers at the lower levels of an organization normally develop strategic plans, but top managers do most of the tactical planning.
True/False
The given statement "managers or teams of managers at the lower levels of an organization normally develop strategic plans, but top managers do most of the tactical planning." is false because top-level managers develop strategic plans, while lower-level managers are responsible for tactical planning in an organization.
Strategic plans involve setting long-term goals and objectives for the organization, as well as determining the overall direction and vision. These plans are crucial for the success of the organization, as they set the foundation for all other activities and decisions.
Top-level managers or executives, such as the CEO, CFO, and board of directors, are responsible for developing strategic plans because they have a comprehensive understanding of the organization's goals, resources, and competitive landscape.
On the other hand, tactical planning focuses on the short-term goals and activities that help the organization achieve its strategic objectives. This type of planning involves creating detailed action plans, allocating resources, and setting specific performance metrics for teams and individuals.
Lower-level managers or teams of managers are responsible for tactical planning because they are closer to the daily operations of the organization, and thus have a better understanding of the specific actions needed to achieve the strategic objectives.
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Business Manager Megan Caldwell expects her employees to be displeased or even hostile when she announces a new work schedule that will become effective next month. An effective organizational strategy for Megan is to __________.
An effective organizational strategy for Megan is to communicate the reasons for the new work schedule and the benefits it will bring to the company and the employees. She should also be open to feedback and suggestions from her employees and involve them in the decision-making process as much as possible.
This will help to build trust and collaboration and reduce the likelihood of hostility or resistance. Additionally, she should provide training and support to help employees adjust to the new schedule and ensure that it is implemented fairly and consistently across the organization.
An effective organizational strategy for Megan is to proactively address employees' concerns by providing clear communication, offering support, and involving them in the decision-making process.
Step 1: Clearly communicate the reasons for the change in the work schedule, including any benefits for the employees and the organization as a whole.
Step 2: Offer support, such as training or resources, to help employees adapt to the new schedule and address any challenges they may face.
Step 3: Involve employees in the decision-making process by soliciting their feedback and considering their input on the new schedule. This can help employees feel more engaged and included in the process, reducing potential hostility or displeasure.
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can someone help me plsss!
Answer:
100
78.60
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26
You have been hired as an auditor to provide a reasonable assurance regarding the fair presentation of Carrefour’s financial statements. During the planning phase of materiality, the preliminary judgment toward the inventory account was set at $50,000. Throughout the audit of inventory account, you found $15,000 of overstated misstatements and $5,000 of understated misstatements within sample of $ 80,000 as the total account volume was $800,000, and estimated sampling error of 20%.
Requirement: Analyze and provide your decision with explanation regarding the inventory account.
The projected misstatement for the entire population of inventory could be $100,000 ($10,000/20% x $800,000).
Based on the preliminary judgment of materiality, the misstatements in the inventory account exceed the threshold, and hence the account is considered material. The total estimated misstatement is $10,000 ($15,000 - $5,000), which represents 20% of the sample size. This means that the projected misstatement for the entire population of inventory could be $100,000 ($10,000/20% x $800,000).
As an auditor, I would conclude that the inventory account is materially misstated and would require the client to make necessary adjustments to the account. I would perform further audit procedures to ensure that the misstatements are corrected, and the financial statements are fairly presented.
This may include reviewing the client's inventory counting procedures, testing the accuracy of inventory records, and verifying the existence and ownership of inventory. I would communicate the findings to the management and the audit committee, highlighting the importance of addressing the material misstatement to maintain the integrity and credibility of the financial statements.
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Given the following information, calculate the effective borrowing cost (rounded to the nearest tenth of a percent). Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Monthly Payment: $1,225.00, Discount points: 2, Other Closing Expenses: $3,611.
A. 7.7%
B. 8.2%
C. 8.5%
D. 9.1%
To calculate the effective borrowing cost, we need to consider the loan amount, term, interest rate, monthly payment, discount points, and other closing expenses.
Here's a step-by-step explanation:
1. Calculate the total discount points cost:
Loan amount × Discount points percentage = $166,950 × 0.02 = $3,339.
2. Calculate the total closing costs:
Discount points cost + Other closing expenses = $3,339 + $3,611 = $6,950.
3. Adjust the loan amount to account for closing costs:
Loan amount - Total closing costs = $166,950 - $6,950 = $160,000.
4. Calculate the total interest paid over the term of the loan:
(Monthly payment × Number of payments) - Adjusted loan amount = ($1,225 × 360) - $160,000 = $441,000.
5. Calculate the average annual interest paid:
Total interest paid ÷ Term = $441,000 ÷ 30 = $14,700.
6. Calculate the effective borrowing cost:
(Average annual interest paid ÷ Adjusted loan amount) × 100 = ($14,700 ÷ $160,000) × 100 ≈ 9.2%
The effective borrowing cost is approximately 9.2%, which is closest to option D (9.1%).
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