Answer:
idk why is it so lonmg
Explanation:s
ssss
In these case, the Veterinarian Clinic the Animal Description is the first priority in terms of Owner and Veterinarian, In terms of animal the first priority is Owner.
What do you mean by Veterinarian Clinic?A structure or portion of a building that houses a veterinary practice and amenities for the care of household animals and birds, including medical treatment, inspection, surgery, diagnostics, cleaning, and general health care.
Therefore, the following conditions of the case study:
1. Veterinarian Clinic:
Animal:
OwnerVeterinarian VisitedDay of VisitTime SlotAnimal DescriptionOwner:
Animal DescriptionVeterinarian VisitedDay of VisitTime SlotVeterinarian:
Animals DescriptionOwner NameDay treatedTime Slot.2. Vehicle service shop:
Car:
Car OwnerMechanic ServicedDay of visitedDelivery timeCar DescriptionOwner:
Car DescriptionMechanic ServicedDay VisitedDelivery timeMechanic Service:
Car DescriptionCar OwnerDay visitedDelivery timeTo know more about the Veterinarian Clinic, visit:
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As a professional in any field, it is important to have a comprehensive understanding of what a marketing plan is and why it is there. A marketing plan is an action-oriented document or playbook that guides the analysis, implementation, and control of all marketing activities. Throughout this book, you will develop a professional marketing plan. The twist is that your marketing plan will focus on how to market yourself to achieve your career goals.
Many businesses fail to execute on their marketing plans because they did not spend adequate time clearly identifying what they wanted or expected to do. As a first step in developing your personal marketing plan, you will need to identify the specific objectives that you want to achieve. In developing these objectives, you should ask yourself several questions, such as:
Do I want to attend graduate school? If so, where and what program?
Where do I want to work?
Where do I want to live?
What kind of life do I want to have?
How much will I need to earn to have that life?
Such questions will help you focus on what specific things you need to do to achieve your goals. The more clearly you define your objectives, the more likely you are to realize them.
Your Task: Clearly state three to five specific objectives for your future, and include a brief one- to two-sentence description of each objective.
Answer:
Career goalsFamily goalsHealth goalsExplanation:
Specific Objectives for my future
Career goals : To achieve a successful and fulfilling career in my life i would be attending graduate school to learn and improve on my existing skills that will enable me to work with a very reputable firm of my choiceFamily goals: I would ensure that my Immediate family is very comfortable by providing them with the basic things that would ensure thatHealth goals: I will adopt a habit of undergoing regular checkups and eating healthyJACKSON FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2019 Debit Credit Cash $ 17,400 Accounts Receivable 6,200 Office Supplies 1,800 Land 15,000 Accounts Payable $ 3,200 Deferred Revenue 5,000 Notes Payable (Long-Term) 11,500 Common Stock 10,300 Retained Earnings 7,400 Dividends 2,000 Service Revenue 10,500 Office Supplies Expense 600 Rent Expense 3,000 Insurance Expense 1,900 1900 $ 47,900 $ 47,900 Jackson's closing entries will include a: Multiple Choice debit to Retained Earnings of $5,000. Credit to Retained Earnings of $3,000. Debit to Service Revenue of $10,500. Debit to Office Supplies Expense of $600. None of the above.
Answer:
Debit to Service Revenue of $10,500.
Explanation:
Jackson's closing entries should be:
December 31, 2019
Dr Service revenue 10,500
Cr Income summary 10,500
Dr Income summary 5,500
Cr Office Supplies Expense 600
Cr Rent Expense 3,000
Cr Insurance Expense 1,900
Dr Income summary 5,000
Cr Retained earnings 5,000
Dr Retained earnings 2,000
Cr Dividends 2,000
Marigold Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order.
Debit:
1. Cost of filling and grading the land $4,500
2. Full payment to building contractor 692,000
3. Real estate taxes on land paid for the current year 5,500
4. Cost of real estate purchased as a plant site (land $111,500 and building $44,000) 155,500
5. Excavation costs for new building 30,000
6. Architect’s fees on building plans 13,000
7. Accrued real estate taxes paid at time of purchase of real estate 1,000
8. Cost of parking lots and driveways 13,000
9. Cost of demolishing building to make land suitable for construction of new building 24,000
Credit:
10. Proceeds from salvage of demolished building $3,500
Required:
Analyze the foregoing transactions.
Answer:
Parking lots and driveways are considered separately from Lands and go into the Land Improvement account.
Annuity A requires annual contributions over 5 years and pays 5% annual interest. Annuities B and C have the same interest rate and annual contributions, but have a term of 10 and 30 years respectively. Each annuity has $50, 000 in it at the end of its term. Which of the following answers correctly lists all of the annuities that have a greater amount of interest in them than the sum of contributions over their term? Select the correct answer below:
A. Annuity C
B. Annuity A
C. Annuity B
D. Annuity B and C
Answer:
A. Annuity C
Explanation:
we can use the present value of an ordinary annuity formula to determine the annual contributions:
FV annuity factor, 5%, 5 periods = 5.5256
FV annuity factor, 5%, 10 periods = 12.578
FV annuity factor, 5%, 30 periods = 66.439
annual contribution annuity A = $50,000 / 5.5256 = $9,048.79, total annuity payments = $45,243.95, so accumulated interests are $4,756.05
annual contribution annuity B = $50,000 / 12.578 = $3,975.19, total annuity payments = $39,751.90, so accumulated interests are $10,248.10
annual contribution annuity C = $50,000 / 66.439 = $752.57, total annuity payments = $22,577.10, so accumulated interests are $27,422.90
Given the demand and cost function shown below, calculate the profit maximizing quantity
Q(P) =2314-89P
c(Q)=12Q
The optimal quantity(Q) is 4.333, and the optimal price(P) is 24.82, using the provided demand and cost function.
The concept of profit maximization is an essential component in economics.
It's essential to determine the quantity of a commodity that must be produced in order to achieve the greatest profit. This can be accomplished by determining the point at which the marginal cost and marginal revenue are equivalent.
In this scenario, we are provided with the demand and cost function, which we must utilize to compute the optimal quantity demanded and profit maximized.
Let us determine the optimal quantity(Q) by using the given demand function. Given that Q(P) =2314-89P, we can rewrite it as follows:P = (2314-Q)/89.
This is a linear equation that shows the inverse relationship between quantity and price.
By setting the given cost function equal to marginal cost (MC), we can compute the optimal quantity (Q*).
Given that Mc(Q)=12Q and TC(Q)=6Q²+50Q+360, MC(Q*) = 12Q* and TC(Q*) = 6Q*²+50Q*+360, we can set them equal to one another:12Q* = 6Q*²+50Q*+3606Q*²+38Q*+360 = 0.
Solving for Q* by utilizing the quadratic formula, we get the optimal quantity, which is 4.333.
Therefore, Q* = 4.333The optimal price can now be determined using the inverse demand equation:P = (2314-Q*)/89P = (2314-4.333)/89P = 24.82.
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What is buying and selling?
EE printing is in the evaluation process for the acquisition of a new computer system. The total depreciable base (cost plus installation) is $180,000.
The new equipment will increase Earnings before depreciation and taxes by $60,000 during years 1 to 3 and $32,000 during years 4 to 6.
EE marginal tax rate is 40% and Cost of Capital is 11%
Calculate the Payback Period
PRESENT YOUR ANSWER ROUNDED TO 2 DECIMAL PLACES
Answer:
5 {4m f
Explanation:
it exal that
During April, the first production department of a process manufacturing system completed its work on 300,000 units of a product and transferred them to the next department. Of these transferred units, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 82,000 additional units were in process in the production department and were 80% complete with respect to materials and 30% complete with respect to conversion.
The production department had $850,368 of direct materials and $649,296 of conversion costs charged to it during April. Also, its beginning inventory of $167,066 consists of $118,472 of direct materials cost and $48,594 of conversion costs. Using the FIFO method, prepare the direct materials cost and the conversion cost per equivalent unit and assign April's costs to the department's output. (Round "Cost per EUP" to 2 decimal places.) Equivalent Units of Production (EUP)- FIFO Method Units EUP- % EUP- Materials Materials Conversion Conversion 0 Materials Conversion Equivalent units of production Cost per Equivalent Unit of Production Cost of beginning goods in process Total costs - Equivalent units of production Cost per equivalent unit of production (rounded to 2 decimals) Total Costs to Account for: Costs EUP Costs EUP 0 0 $ 0.00 $ 0.00 Total costs to account for: Total costs accounted for * Difference due to rounding cost/unit Assignment of Costs to Output of Department Cost of 60,000 units from beginning inventory Beginning inventory EUP Cost per EUP Total cost Materials to complete Conversion to complete Total costs to complete Total cost of 60,000 units in beginning inventory $ 0.00 EUP Cost of units started and completed this period Direct materials Conversion costs Total cost of 240,000 units started and completed Total cost of 300,000 units transferred out Cost per EUP Total cost $ 0.00 $ 0.00 $ 0.00 0.00 FUP Costs of units in ending inventory Direct materials Conversion costs Total cost of 82,000 units in ending inventory Total costs assigned Cost per Total cost EUP Total cost $ 0.00 $ 0.00 $ 0.00 0.00
Answer:
total cost per EUP during April:
materials = $2.58conversion costs = $2.16total cost per EUP during April = $4.74total cost of ending WIP = $222,384
total cost of units transferred out = $1,444,346
Explanation:
beginning WIP 60,000 units:
60% complete for materials, so 40% was completed during April (EUP for April = 24,000)
40% complete for conversion costs, so 60% was completed during April EUP for April = 36,000)
total costs of beginning WIP:
materials $118,472
conversion costs $48,594
240,000 units were started and completed
total costs incurred during April:
materials $850,368 (EUP = 240,000)
conversion costs $649,296 (EUP = 240,000)
ending WIP 82,000 units:
80% complete for materials (EUP = 65,600)
30% complete for conversion costs (EUP = 24,600)
total cost per EUP during April:
materials = $850,368 / (24,000 + 240,000 + 65,600) = $2.58
conversion costs = $649,296 / (36,000 + 240,000 + 24,600) = $2.16
total cost per EUP during April = $4.74
total cost of ending WIP = (65,600 x $2.58) + (24,600 x $2.16) = $222,384
total cost of units transferred out = (240,000 x $4.74) + (24,000 x $2.58) + (36,000 x $2.16) + $118,472 + $48,594 = $1,444,346
On January 1, 2021, Rapid Airlines issued $200 million of its 8% bonds for $184 million. The bonds were priced to yield 10%. Interest is payable semiannually on June 30 and December 31. Rapid Airlines records interest at the effective rate and elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $188 million as determined by their market value in the over-the-counter market. Rapid determined that $1,000,000 of the increase in fair value was due to a decline in general interest rates.
Required:
a. Prepare the journal entry to record interest on June 30, 2018 (the first interest payment).
b. Prepare the journal entry to record interest on December 31, 2018 (the second interest payment).
c. Prepare the journal entry to adjust the bonds to their fair value for presentation in the December 31, 2018, balance sheet.
Answer:
1. Debit Interest expense $8million
Credit Cash $8 million
2. Debit Interest expense $8 million
Credit Cash $8 million
3. Debit Bonds Payable $12million
Credit Adjustment in fair value $12 million
Explanation:
Preparation of Journal entries
1) Preparation of Journal entry for interest payment for the month of June 30, 2021
Debit Interest expense $8million
Credit Cash $8 million
[($200 million * 8%) *6/12]
We multiplied 6/12 because the payments were made half yearly.
2. Preparation of Journal entry for interest payment for the month of Dec 31, 2021
Debit Interest expense $8 million
Credit Cash $8 million
[($200 million * 8%) *6/12]
3) Preparation of Fair value adjustment for the month of Dec 31, 2021
Debit Bonds Payable $12million
Credit Adjustment in fair value $12 million
($200 million - $188 million)
Sagon Corporation has provided data concerning the Corporation's Manufacturing Overhead account for the month of September. Prior to the closing of the overapplied or underapplied balance to Cost of Goods Sold, the total of the debits to the Manufacturing Overhead account was $75,000 and the total of the credits to the account was $56,000. Which of the following statements is true?
a. Manufacturing overhead transferred from Finished Goods to Cost of Goods Sold during the month was $75,000.
b. Actual manufacturing overhead incurred during the month was $56,000.
c. Manufacturing overhead applied to Work in Process for the month was $75,000.
d. Manufacturing overhead for the month was underapplied by $19,000.
Answer: Manufacturing overhead for the month was underapplied by $19,000.
Explanation:
From the question, we are informed that before the closing of the overapplied or underapplied balance to cost of goods sold, the total of the debits to the manufacturing overhead account was $75,000 and the total of the credits to the account was $56,000.
This implies that the manufacturing overhead for the month was underapplied by ($75000 - $56000)= $19000. The manufacturing overhead debit balance shows that manufacturing overhead was simply underapplied in this case.
Match the methods to monitor on-floor selling activity and sales effectiveness to the scenario that portrays them.
Monitoring on-floor selling activity and sales effectiveness can be done through various methods that help retailers make informed decisions about their store's performance.
Here are some methods for monitoring on-floor selling activity and sales effectiveness:1. Mystery shoppingThis is where retailers hire a third-party to pose as a customer and visit the store to evaluate the level of service and sales effectiveness. Mystery shoppers can be used to evaluate different areas of the store, such as customer service, product knowledge, and sales techniques. The results can be used to identify areas of weakness and opportunities for improvement.2. Point of sale data analysisThis involves analyzing sales data collected at the checkout. This method can provide insights into sales trends, popular products, and the effectiveness of promotions and sales strategies. Retailers can use this data to make informed decisions about their store's inventory and pricing.3. In-store camerasInstalling cameras on the sales floor can help retailers monitor customer behavior, such as how long they spend in a particular area and which products they are looking at. Retailers can use this information to improve store layout and product placement.4. Customer feedback forms Retailers can use feedback forms to gather information about customers' experiences in the store.
This can include questions about the level of service, product availability, and overall satisfaction. Retailers can use this information to identify areas of improvement and make changes to the store's operations.5. Sales tracking softwareRetailers can use sales tracking software to monitor sales performance and set sales goals. This software can provide real-time updates on sales data and identify areas of strength and weakness. Retailers can use this information to make informed decisions about their store's operations and sales strategies.In conclusion, retailers can use different methods to monitor on-floor selling activity and sales effectiveness. These methods include mystery shopping, point of sale data analysis, in-store cameras, customer feedback forms, and sales tracking software. The choice of method will depend on the retailer's goals and the specific areas they want to evaluate.
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Corporation has two manufacturing departments--Casting and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:
Casting Customizing Total
Estimated total machine-hours (MHs) 5,000 5,000 10,000
Estimated total fixed manufacturing overhead cost $27,500 $10,500 $38,000
Estimated variable manufacturing overhead cost per machine-hour $1.70 $2.60
During the most recent month, the company started and completed two jobs--Job C and Job G. There were no beginning inventories. Data concerning those two jobs follow:
Job C Job G
Direct materials $10,600 $7,800
Direct labor cost $23,700 $7,900
Casting machine-hours 3,400 1,600
Customizing machine-hours 2,000 3,000
Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. The total manufacturing cost assigned to Job G is closest to:
a. $32,130
b. $11,900
c. $20,230
d. $20,520
Answer:
Allocated overhead= $37,260
Explanation:
Giving the following information:
Total
Estimated total machine-hours (MHs) 10,000
Estimated total fixed manufacturing overhead cost $38,000
Estimated variable manufacturing overhead cost per machine-hour $4.3
First, we need to calculate the plantwide predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (38,000/10,000) + 4.3
Predetermined manufacturing overhead rate= $8.1 per machine-hour
Now, we can allocate overhead to Job G:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Job G
Casting machine-hours 1,600
Customizing machine-hours 3,000
Allocated overhead= 8.1* (1,600 + 3,000)= $37,260
When room temperature is kept at 66°F, a 3000 ft2 House without insulation in Morgantown loses in average 4000 BTU/min thermal energy to ambient air during winter time (from November 1st to March 31). The cost of a low efficiency (90) furnace fueled by natural gas is $2000. The cost of a high efficiency (99.5%) furnace fueled by natural gas is $3000. Both furnaces have a life expectation of 20 years. The installation of an insulation layer is estimated to reduce the heat loss by 80% at a cost of $30,000. You can assume the house and insulation layer can be used for 80 years.
(1) Please find the best design for this house for the estimated natural gas price of $3.0/MBTU (current price) and $12.0/MBTU (natural gas price a few years ago), respectively.
(2) Please comments if the application of the heat transfer knowledge helps to reduce the emissions of greenhouse gases.
(3) Check if the methane in natural gas should be considered as greenhouse gas, comments its greenhouse gas potential, and explain the benefit of high efficiency furnace in heating a house.
Answer:
1) Best design is the use of thermal insulation and high efficiency furnace
2) The application of heat transfer knowledge is expressed in the reduction of fuel from year to year. and these decreases in fuel, leads to a decrease in the emissions of greenhouse gases
3) Methane should be considered a greenhouse gas, methane is part of the gases emitted when fuel is burnt hence using a thermally insulated house with a high efficient furnace to reduce the amount of fuel burnt is beneficial in the reduction of the emission of greenhouse gases like methane
Explanation:
Given Data :
Number of days = 150 days ( 1st Nov to 31st March )
Total working time = 150 * 60 *24 = 216000 mins
Heat loss without insulation = 864 Btu/min ( 4000 * 216000 )
heat loss with insulation = ( 1- 0.8 ) * 864 = 172.8 MBTU
1) Best design to use
i) Without insulation, Low efficiency furnace
fuel required = 864 / 0.9 = 960 MBTU
cost of fuel at current price = 3 * 960 = $2880
cost of fuel at old price = $11520
ii) with insulation, low efficiency furnace
fuel required = 172.8 / 0.9 = 192 MBTU,
cost of fuel at current price = $576
cost of fuel at old price = $ 2304
After repeating the same process for every combination it is discovered that the design with the least cost is the use of thermal insulation with a high efficiency furnace Hence it is the best design to implement
2) The application of heat transfer knowledge is expressed in the reduction of fuel from 960MBTU per year to 173.67 MBTU per year. and the decrease in fuel leads to a decrease in the emissions of greenhouse gases
3) Methane should be considered a greenhouse gas, methane is part of the gases emitted when fuel is burnt hence using a thermally insulated house with a high efficient furnace to reduce the amount of fuel burnt is beneficial in the reduction of the emission of greenhouse gases like methane
Complete the Transaction Worksheet: On the form provided, identify the accounts affected by each transaction and the amount of increase or decrease in each account. Make sure the accounting equation is in balance after each transaction.
1. Jan Swift, owner, deposited $30,000 in the business checking account.
2. The owner transferred to the business a desk and chair valued at $700.
3. WordService issued a check for $4,000 for the purchase of a computer.
4. The business bought office furniture on account for $5,000 from Eastern Furniture.
5. The desk and chair previously transferred to the business by the owner were sold on account for $700.
6. WordService wrote a check for $2,000 in partial payment of the amount owed to Eastern Furniture Company.
Use the Excel spreadsheet form for posting the transactions.
Determine the effects of the transations
Assets =Liabilities + Owner's Equity
Trans Cash in + Accounts + Computer + Office =Accounts + Jan Swift,
Bank Receivable Equipment Furniture Payable Capital
1
2
3
4
5
6
Bal.
Answer:
I used an excel spreadsheet because there is not enough room here.
Explanation:
write down any four importance of training
Answer:
Improved employee performance – the employee who receives the necessary training is more able to perform in their job. ... A training program allows you to strengthen those skills that each employee needs to improve. A development program brings all employees to a higher level so they all have similar skills and knowledge.
Explanation:
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Which form of business is the easiest to start?
a. sole proprietorship
b. partnership
c. corporation
d. S-corporation
Answer:
The answer is A. sole proprietorship
Explanation:
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Following information is given of ABC Ltd.
Cash Outflow $150,000
Annual Cash inflow
First 4 years $25,000
Next 6 years $10,000
Estimated life 10 years
Required: Calculate Payback period
Issa Manufacturing Company was started on January 1, 2014, when it acquired $80,000 cash by issuing common stock. Issa immediately purchased office furniture and manufacturing equipment costing $9,100 and $26,100, respectively. The office furniture had a seven-year useful life and a zero salvage value. The manufacturing equipment had a $3,900 salvage value and an expected useful life of three years. The company paid $11,400 for salaries of administrative personnel and $15,000 for wages to production personnel. Finally, the company paid $18,760 for raw materials that were used to make inventory. All inventory was started and completed during the year. Issa completed production on 4,900 units of product and sold 3,990 units at a price of $16 each in 2014. (Assume that all transactions are cash transactions.)
a. Determine the total product cost and the average cost per unit of the inventory produced in 2014. (Round "Average cost per unit" answer to 2 decimal places.
b. Determine the amount of cost of goods sold that would appear on the 2014 income statement. (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)
c. Determine the amount of the ending inventory balance that would appear on the December 31, 2014, balance sheet. (Do not round intermediate calculations. Round your answer to the nearest dollar amount.)
d. Determine the amount of net income that would appear on the 2014 income statement. (Round your answer to the nearest dollar amount.)
e. Determine the amount of retained earnings that would appear on the December 31, 2014, balance sheet. (Round your answer to the nearest dollar amount.)
f. Determine the amount of total assets that would appear on the December 31, 2014, balance sheet. (Round your answer to the nearest dollar amount.)
Answer:
a. Determine the total product cost and the average cost per unit of the inventory produced in 2014.
total cost of finished units = $41,160
cost per unit = $8.40
b. Determine the amount of cost of goods sold that would appear on the 2014 income statement.
COGS = $33,516
c. Determine the amount of the ending inventory balance that would appear on the December 31, 2014, balance sheet.
$7,644
d. Determine the amount of net income that would appear on the 2014 income statement.
$17,624
e. Determine the amount of retained earnings that would appear on the December 31, 2014, balance sheet.
$17,624
f. Determine the amount of total assets that would appear on the December 31, 2014, balance sheet.
cash ($63,480) + inventory ($7,644) + office furniture ($7,800) + manufacturing equipment ($18,700) = $97,624
Explanation:
Dr Cash 80,000
Cr Common stock 80,000
Dr Office furniture 9,100
Dr Manufacturing equipment 26,100
Cr Cash 35,200
Dr S&A salaries expense 11,400
Dr Inventory: finished units 15,000
Cr Cash 26,400
Dr Inventory: raw materials 18,760
Cr Cash 18,760
Dr Inventory: finished units 18,760
Cr Inventory: raw materials 18,760
Dr Inventory: finished units 7,400
Cr Accumulated depreciation - manufacturing equipment
Dr Cash 63,840
Cr sales revenue 63,840
total cost of manufactured goods (4,900 units) = $41,160, so $8.40 per unit
Dr Cost of goods sold 33,516
Cr Inventory: finished units 33,516
ending inventory = $41,160 - $33,516 = $7,644
Dr Depreciation expense 1,300
Cr Accumulated depreciation - office furniture 1,300
Total period costs = $12,700
operating income = $63,840 - $33,516 - $12,700 = $17,624
Nick is working for an advertising firm making $60,000 per year but considers starting his own advertising company. Nick has determined that to launch the business, he needs to invest $100,000 of his own funds. The annual cost of running the business will include $50,000 for the rent of the office space, $180,000 for employee wages, and $8,000 for materials and utilities. Nick plans to manage the business, which means that he will have to quit his current job. Suppose that the interest rate (or rate of return) on investments in the economy is 6%.
Nick's total implicit cost per year is _____.
Nick's total cost per year is _____.
Answer:
$66,000
$304,000
Explanation:
The computation is shown below:
Total implicit cost is
= Job left cost + forgone the return on investment
= $60,000 + $100,000 × 6%
= $60,000 + $6,000
= $66,000
And, the total cost is
= explicit cost + implicit cost
= $50,000 + $180,000 + $8,000 + $66,000
= $304,000
We simply applied the above formulas so that the correct values could come
Total assets are the amount the owner has invested in the business.
true or false
Answer:
In the explanation. :)
Explanation:
The accounting equation is most often stated as Assets + Liabilities = Owner's Equity. Total assets are the amount the owner has invested in the business. false. An expense is a decrease in owner's equity resulting from the operation of a business.
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Wellington Recycling recycles newsprint, cardboard, and so forth, into received packaging materials. For the coming year, Wellington estimates total manufacturing overhead to be $359,640. The managers are not sure if direct labor hours (estimated to be 9,990) or machine hours (estimated to be 7,982 hours) is the best allocation base to use for allocating manufacturing overhead. Wellington bids for jobs a 31 % markup over total manufacturing cost.
After the new fiscal year began, Hollings Paper Supply asked Wellington Recycling to bid for a job that will take 1 ,975 machine hours and t ,700 direct labor hours to produce. The direct labor cost this will be $10 per hour, and the direct materials will total S25,500.
Required:
Compute the total job cost and price if Wellington decided to use direct labor hours as the manufacturing overhead allocation base for the year.
Answer and Explanation:
The computation is shown below:
But before that first determine the predetermined overhead cost which is
= Estimated total manufacturing cost ÷ estimated labor hours
= $359,640 ÷ $9,990
= $36 per hour
Now the total cost is
= Direct material + direct labor + manufacturing overhead
= $25,500 + 1,700 × $10 + $1,700 × $36
= $25,500 + $17,000 + $61,200
= $103,700
Now the bid price is
= Job cost - markup profit
= $103,700 - $103,700 × 31%
= $103,700 - $32,147
= $135,847
To calculate the total Job Cost, it is required to add direct Materials with direct Labor and applied overhead.
Computation total job costAlthough when before that first determine the predetermined overhead cost which is
Then = Estimated total manufacturing cost ÷ estimated labor hours
Then = $359,640 ÷ $9,990
After that = $36 per hour
Now the total cost is
Then = Direct material + direct labor + manufacturing overheadNow, = $25,500 + 1,700 × $10 + $1,700 × $36After that = $25,500 + $17,000 + $61,200Then = $103,700Now the bid price is
Then = Job cost - markup profitNow = $103,700 - $103,700 × 31%Then = $103,700 - $32,147Then = $135,847Find out more information about Total job cost here:
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Currently, our system is characterized by a lack of fit between what the customer wants and what the SCM system is best able to provide. As a result, which of the following would apply? The only way to restore fit is for the firm to change the market segment it is going after. Unless something is done, our firm will not be the most effective and efficient long-term supplier. Any firm can successfully counter such inconsistencies through the use of patents and aggressive advertising.
Answer:
This question is incomplete, the options are missing. The options are the following:
A) I only
B) II only
C) III only
D) I and II only
E) I, II and III
And the correct answer is the option B: II only: Unless something is done, our firm will not be the most effective and efficient long-term supplier.
Explanation:
To begin with, the concept known as SCM refers to the Supply Chain Management that is the system whose main purpose is to take care of the management of the flow of the services and goods that involves the raw materials needed for the production of the product of the company and also of the work-in-process inventory as well as the finished goods. That is why that this system is the one that is in charge of the whole flow of the product of the company from its origin in the process until the final line that is the consumption of it. Therefore that if there is a lack of fit between what the customer wants and what the SCM is best able to provide then if nothing is done, the firm will not be the most effective and efficient long-term supplier.
The market for breakfast cereals is dominated by a few large corporations. Each corporation produces a high volume of breakfast cereals and takes advantage of economies of scale to produce the breakfast cereals efficiently. This allows them to sell the products at a price that smaller firms cannot, because the smaller firms would not make a profit. What type of market structure is the market for breakfast cereals?
A pure competition
B monopolistic competition
C oligopoly
D monopoly
Answer:
type of market structure is the market for breakfast cereals are pure competition
The accounting records for Portland Products report the following manufacturing costs for the past year: Direct materials $ 315,000 Direct labor 262,500 Variable overhead 231,000 Production was 150,000 units. Fixed manufacturing overhead was $270,000. For the coming year, costs are expected to increase as follows: direct materials costs by 20 percent, excluding any effect of volume changes; direct labor by 4 percent; and fixed manufacturing overhead by 10 percent. Variable manufacturing overhead per unit is expected to remain the same. Required: a. Prepare a cost estimate for a volume level of 120,000 units of product this year. (Do not round intermediate computations.)
Answer:
$1,002,600
Explanation:
The first step is to calculate the cost of each item for the current year
Direct materials= 315,000/150,000 × (20/100 + 1) × 120,000
= 2.1 × 1.20× 120,00
= $302,400
Direct labor= 262,500/150,000 × (4/100 +1) × 120,000
= 1.75 × 1.04 × 120,000
= $218,400
Variable overhead
= 231,000/150,000 × 120,000
= 1.54 × 120,000
= $184,800
Manufacturing overhead
= 270,000 × 10/100 + 270,000
= 270,000 × 0.1 + 270,000
= 27,000 + 270,000
= $297,000
Total costs= $302,400 + $218,400 + $184,800 + $297,000
= $1,002,600
12. Horizon Electronics is launching a new all-in-one product. The product can be used to play music, watch movies, check e-mail, and make phone calls. Because
there are so many features, you know there will be many questions. Your company is advertising a sale on the product, hoping that customers will buy it from your
store rather than online or at a competitor's store. How should you prepare for the large volume of customers asking about this product?
OA. Tell customers that they can call Horizon Electronics directly to answer questions about how to use the product.
OB. Rely on one of your co-workers to help you answer questions as he just bought the product for himself.
OC. Test the item on display making sure you can explain how to use each feature.
O D. Remind customers they can return the item if it is too difficult to use.
The best approach to prepare for the large volume of customers asking about the new product is:
OC. Test the item on display, making sure you can explain how to use each feature.
By testing the product on display and familiarizing yourself with its features, you will be able to provide accurate information and demonstrations to customers. This will help you address their questions and concerns effectively, increasing their confidence in purchasing the product from your store.
Direct Materials Purchases Budget Langer Company produces plastic items, including plastic housings for humidifiers. Each housing requires about 15 ounces of plastic costing $0.08 per ounce. Langer molds the plastic into the proper shape. Langer has budgeted production of the housings for the next 4 months as follows:
Units
July 3,500
August 4,400
September 4,900
October 6,300
Prepare a direct materials purchases budget for July, August, and September, showing purchases in units and in dollars for each month and in total.
Answer:
Total cost for the period= $15,360
Explanation:
To calculate the direct material purchases, we need to use the following formula:
Purchases= production + desired ending inventory - beginning inventory
July (ounces):
Production= 3,500*15= 52,500
Desired ending inventory= 0
Beginning inventory= 0
Total= 52,500
Total cost= 52,500*0.08= $4,200
August (ounces):
Production= 4,400*15= 66,000
Desired ending inventory= 0
Beginning inventory= 0
Total= 66,000
Total cost= 66,000*0.08= $5,280
September (ounces):
Production= 4,900*15= 73,500
Desired ending inventory= 0
Beginning inventory= 0
Total= 73,500
Total cost= 73,500*0.08= $5,880
Total cost for the period= $15,360
A team is trying to determine the best process type for producing a new product family. The product consists of a base model with a number of different options that customers may specify. Because of the differences between the number and types of options that can be specified, the time required for different operations can vary quite a bit. One of the operations that must be performed on the base model requires a complex machine tool. Setup times for this tool are long, necessitating large batch sizes. It would not be economical to purchase more machines of this type. Which of the following process types would be best for producing a new product family?
a. cell
b. continuous flow process
c. machine-paced line
d. worker-paced line
Answer:
The correct answer is the option A: Cell
Explanation:
To begin with, the name of "Cellular Manufacturing" is known in the business field for being one type of manufacturing process that can be selected among others in order to use it as the method of excellence to produce the good that the company wants to sell. Moreover, this type of process is characterized by the fact that the process involves a number of various machines that do a task in particular, called cells, that can easily change that task in order to do another one that the manufacturer will need so that implicates that this type of method is very helpfull in those companies who develop products that are intended to be changed continuously.
Data on DVD sales for three different years can best be COMPARED by using a *
Answer:
Bar graph (chart).
Explanation:
A bar graph also known as a bar chart can be defined as the graphical representation of data (informations) by using vertical columns or rectangular bars. When a data set is observed, a bar chart can be used to graphically represent or record the total or overall amount of information contained therein. Generally, bar charts are used for the comparison of informations obtained from a data collection by representing each value (information) with rectangular bars respectively.
Hence, data on DVD sales for three different years can best be compared by using a bar graph (chart).
The bar graph has a x-axis and a y-axis used to represent the various categories of data collected. Thus, the x-axis could be used to denote the DVD sales while the y-axis is used to denote the year.
Which career professionals in the Arts, A/V Technology, and Communication careers are typically self-employed? Check all that apply. Sound Engineering Technicians Craft Artists Photographers Telecommunications Specialists Broadcast News Analysts Art Directors
The careers in the arts that makes one self employed are:
PhotographersCraft Artists Technicians Sound EngineeringWhat does it mean to be self employed?This has to do with the job situation where a person is the one that manages himself.
This person is the one that runs his business himself. He could have a business that allows him to provide services for other people.
Read more on self employment here:
https://brainly.com/question/20750656
Answer:
Photographers
Craft Artists
Technicians
Sound Engineering
Explanation:
The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company owns and operates a retail shoe store.
a. Issued 110,000 shares of common stock in exchange for $550,000 cash.
b. Purchased office equipment at a cost of $91,250. $36,500 was paid in cash and a note payable was signed for the balance owed.
c. Purchased inventory on account at a cost of $220,000. The company uses the perpetual inventory system.
d. Credit sales for the month totaled $374,000. The cost of the goods sold was $187,000. Paid $4,750 in rent on the store building for the month of June.
e. Paid $2,520 to an insurance company for fire and liability insurance for a one-year period beginning June 1, 2021.
f. Paid $158,950 on account for the merchandise purchased in c.
g. Collected $74,800 from customers on account.
h. Paid shareholders a cash dividend of $5,500.
i. Recorded depreciation expense of $1,825 for the month on the office equipment.
j. Recorded the amount of prepaid insurance that expired for the month.
Required:
Prepare journal entries to record each of the transactions and events listed above.
