tom winthrop estimated that the units in ending work in process inventory in the final processing department were 30% complete with respect to the conversion costs of the final processing department. if this estimate of the percentage completion is used, what would be the cost of goods sold for the year? (10 points)

Answers

Answer 1

If this estimate of the percentage completion is used, the cost of goods sold for the year WOULD BE = $ 488000 and $ 156000

Income from Operations =

Sales Revenue - Variable Expenses - Fixed Expenses

For 12000 Units = (12000 x $ 201) - (12000 X $118) - $ 840000

= $ 2412000 - $1416000 - $ 840000

= $ 156000

For 16000 Units = (16000 x $ 201) - (16000 X $118) - $ 840000

= $ 3216000 - $1888000 - $ 840000

= $ 488000

What do you mean by process inventory?

Process Inventory is a term mainly referred to the tools, materials and equipment involved into a process. It means a complete set of tangible resources which are to be possessed by an organization for successful accomplishment a business process.

It is necessary for an organization to

keep accurate trackingControl acquiringdeliverystocking up ongoing allocation of resources.

Therefore, If this estimate of the percentage completion is used, the cost of goods sold for the year WOULD BE = $ 488000 and $ 156000

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Related Questions

you can obtain a loan of $100,000 at a rate of 10 percent for two years. you have a choice of (i) paying the interest (10 percent) each year and the total principal at the end of the second year or (ii) amortizing the loan, that is, paying interest (10 percent) and principal in equal payments each year. the loan is priced at par. what is the duration of the loan under both methods of payment? explain the difference in the two results.

Answers

the duration of the loan under both methods of payment:

(i) D = 1.9091

(ii) D = 1.4762

the difference between the two outcomes:

When a portion of the principal is repaid at the end of year one, the duration decreases dramatically. The duration of an asset is its weighted-average maturity. When early payments are given more weight, the effective maturity of the asset is reduced.

Loan for two years: Interest at the end of the first year; Principal and interest at the end of the second year

Par value = $100,000    

Coupon rate = 10%    

Annual payments  

R = 10%        

Maturity = 2 years

 

           

Two-year loan: Amortized over two years

Par value = $100,000

Coupon rate = 10%

Annual amortized payments = $57,619.05                

R = 10%            

Maturity = 2 years

Annual amortized payments is calculated as

× 1−(1+10%)−2 / 10% =100,000, PMT = 57,619.05

           

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a fund complex currently operates a web site to provide details regarding the investment philosophy behind each of its funds and to provide general commentary on the state of the world's stock and bond markets. under finra rules, this web site is considered:

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A fund complex currently operates a Web site to provide details regarding the investment philosophy behind each of its funds and to provide general commentary on the state of the world's stock and bond markets. Under FINRA rules, this Web site is considered retail communication.

There are many different types of investment philosophy, each with its own risks and rewards. Some common investments include stocks, bonds, and real estate. When deciding what to invest funds in, it's important to consider your goals and risk tolerance.

Some investments are more likely to generate a higher returns, but they also come with more risk. It's important to find a balance that meets your needs.

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Candidate Experience Survey
4. What are your reasons for recommending Target?

Answers

Target market provide excellent offers and discounts on high-quality products for men, women, and children, as well as home and personal accessories.

What has made Target so successful?More than half of the company's online sales come from its same-day services, which include Drive Up, a curbside pickup option; Order Pickup, which allows customers to retrieve online purchases in-store; and Shipt, a home delivery service.Target market provide excellent offers and discounts on high-quality products for men, women, and children, as well as home and personal accessories.Our guests' affordability is our priority. Our owned brands and handpicked collection of major national brands set us apart from the competition. Investing in creating a compelling and distinct shopping experience.

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you are considering buying some stock in continental grain. which of the following is an example of nondiversifiable risk?

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The following is an example of non-diversifiable risk C. Risk resulting from a general decline in the stock market.

Berkshire Hathaway is the world's maximum pricey stock. one of the main reasons why the company's inventory is so luxurious is as it never went through an inventory split. The corporation's CEO, Warren Buffet, intentionally decided towards a cut-up to save you short-time period buying and selling which might result in higher volatility.

Traders should not allow the bears to scare them out of taking benefit of selloffs, but they also shouldn't chase profits when there may be loads of marketplace power. ultimately, 2022 may be a good enough yr for the marketplace return standard, just no longer as robust as what we've got visible in the last few years.

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explain the concepts of (product-specific) economies of scale and economies of scope as an entry barrier.

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The average total cost of production of a variety of items is the topic of economies of scope. Economies of scale, on the other hand, concentrate on the resulting cost advantage.

What is cost advantage?

A business has a cost advantage when it can produce a good or offer a service for less money than its rivals. These businesses produce more in greater quantities and gain from one or more of the following factors: low-cost raw material access, effective processes and technologies, low distribution and sales costs, effectively managed operations.

The other two are offer advantage (adding value to a good or service through special features) and niche advantage. Cost advantage is one of the three ways a business can develop a competitive advantage. An organization is in a good position to increase market share and profitability if it excels in at least one of these areas while remaining competitive in the other two.

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what must you select in order to remove a vendor from the vendor center in quickbooks online?

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In the main menu, select the "Vendor" option. Choose the vendor you want to remove from the list of vendors. Click the "Delete Vendor" button. Click the "Yes" button to confirm your selection.

A vendor is a supply chain management phrase that refers to anyone who provides goods or services of experience to another company. Vendors can sell B2B (business-to-business; that is, to other businesses), B2C (business-to-consumer or Direct-to-consumer), or B2G (business-to-government) (business to government). Some vendors produce inventoryable items and then sell them to customers, while others provide services or experiences. The terms vendor and supplier are often used interchangeably. The difference is that vendors sell goods or services, whereas suppliers provide goods or services. With the exception of retail, this distinction has no bearing in most business contexts, and the words are interchangeable. Typically, vendors are tracked in either a finance system or a warehouse management system.

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what is it called when machines, equipment. resources need to be productive. they must be used to make something (money is not a resource/factor of production).

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Total productive maintenance keeps your machines running at their peak performance and aids in achieving equipment reliability.

What is Total Productive Maintenance equipment?Total Productive Maintenance (TPM), a comprehensive approach to equipment maintenance that aims for flawless production Zero breakdowns. No small stops, no running slowly. No flaws.To accomplish your work's goals and objectives, you must have all of your resources operating at peak efficiency. There is a method for doing this with equipment called complete productive maintenance (TPM). Total productive maintenance maintains your machines running at their peak performance and aids in achieving equipment reliability.Maintenance Methods Schedules for regular and periodic (time-based) preventive maintenance are included. When a problem is identified, corrective maintenance is carried out. Maintenance that is predetermined and adheres to a manufacturer schedule.

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critical thinking questions you are reading the information that accompanies a video. it states that the video is 1080p. explain what this means. be specific. imagine that you were filming a brief documentary about a political candidate. which camera angle and camera movement would you use in the opening scene? why would you select these? imagine that you decided to film a video in sd because the video will mostly be shared on social media, and you want it to be able to load quickly. what considerations do you need to take into account in order to make the video successful? imagine that you will be shooting a public service announcement about the dangers of vaping. you have decided to shoot it in hd. what considerations do you need to take into account so that the framing is appropriate for hd? imagine that you had been asked to film a commercial to advertise a car wash. what kind of lighting would you want to have available for the filming? explain your choices.

Answers

Answer:for the first critical thinking question, the answer is: the video is 1920 x 1080 and that it is HD

Explanation:

1080p means that the resolution is 1920 x 1080 and that it is also HD

what section of the msds would indiciate special handling, storage precaution and any protective measures of a product

Answers

Section 9- special precaution section of MSDS indicates special handling , storage precaution  and any protective measure of a product .

Physical and Chemical Properties :

You should check that the description( physical state and presence) of the substance on the MSDS is the same as the substance you have.However, you may not have the accurate MSDS, If it isn't. Alternately, the substance may be old or may have decayed during shipping or warehouse. In either case, the facts on the MSDS may not apply, and you should gain fresh advice.

The rest of the facts in this section is used to help adjudicate the conditions under which the material may be dangerous. Specialized specialists use this information to develop specific work point procedures for liability control, storehouse, running, fire fighting, slip clean- up, etc

Material Safety Data Sheet( MSDS) :

MSDS provides introductory information on a substance or chemical product. A MSDS describes the properties and implicit hazards of the substance, how to use it safely, and what to do in an exigency. The purpose of this document is to help Canadian workers in settlement and demonstrating this type of facts.

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an executive prepares for retirement by depositing $9000 into an annuity each year for 10 years. the annuity earns 5.9% per year. find the future value of the annuity at the end of 10 years. (round your final answer to two decimal places.)

Answers

Future value of the annuity at the end of 10 year is $98392.88 as  an executive prepares for retirement by depositing $9000 into an annuity each year for 10 years .

What is Annuity ?

An annuity is a series of payments delivered at regular periods in the investing world.  Regular savings account deposits, mortgage payments, insurance premiums, and pension payments are all examples of annuities. The periodicity of payment dates allows for the classification of annuities. The payments (deposits) may be paid every week, every month, every four months, every year, or at any other regular frequency. Mathematical operations referred to as "annuity functions" can be used to compute annuities.

A life annuity is an annuity that offers payments throughout the balance of the owner's lifetime. An annuity-payments immediate's are made at the conclusion of each payment period, allowing interest to accumulate between the time the annuity is issued and the first payment. An instant payment is paid to the issuer since annuity-due payments are made at the beginning of payment periods.

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which target market the Beetle’s makers and promoters were aiming at.

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The target market for the new Beetle are people between 18-34 years old as well as baby boomers.

Who encouraged the Volkswagen Beetle's development?

A review of a German success story in this article. The Volkswagen Beetle was created by two individuals, Adolf Hitler and Ferdinand Porsche, and it was a massive undertaking.

Therefore, the Segmentation of the New Beetle People who are "psychologically young," individualistic, self-assured, and nonconformist should be the New Beetle's target market.

According to research, prospective New Beetle drivers exhibited traits including self-assurance, independence, and a desire to command attention. They enjoyed driving and valued German engineering and spirited designs.

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cost benefit analysis a. considers only short-term effects. b. values costs over benefits focusing on internalities. c. is a value-free social-scientific approach.

Answers

Cost-benefit analysis is influenced by value judgments. Hence the correct choice of answer for this question would be option (a)

Write a brief note on Cost-benefit analysis.

Businesses utilize a cost-benefit analysis as part of a systematic procedure to determine which options to take and which to ignore. The cost-benefit analyst adds up the potential benefits anticipated from a circumstance or course of action before deducting the overall expenses related to that course of action. Additionally, some consultants or analysts create models to put a monetary value on intangible things like the advantages and disadvantages of relocating to a specific location. 

Prudent managers perform a cost-benefit analysis to assess all the costs and profits that a company might produce from the project before starting a new project or building a new factory. Depending on the results of the investigation, the company will decide whether to move through with the project or try something else.

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The complete question is mentioned below :

Cost-benefit analysis :

a. is influenced by value judgments 

b. considers only short-term effectsc

c. values cost over benefits focusing on internalities

d. is a value-free social-scientific approach

some smaller states in africa and the caribbean have no domestic currency. these states rely on which two foreign currencies?

Answers

Euro and US dollar are the two foreign currencies that these states rely on.

At the international level, a currency can serve a variety of functions, the most important of which are trade invoicing, foreign reserve currency, reference currency for exchange rate arrangements, financial currency, and parallel currency.

In addition to the five US territories, the US dollar became the official currency of 11 countries: Ecuador, El Salvador, Zimbabwe, the British Turks and Caicos, Timor-Leste, Bonaire, Micronesia, Palau, Marshall Islands, and Panama.

Because of their proximity to Europe, the euro may play a more important role in Northern African countries than in SSA, which may result in an upward bias in the evidence on the role of the euro.

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if on november 26, 2017, the dow jones industrial average closed at 12,743.40, which was down 237.44 that day. what was the return (in percent) of the stock market that day?

Answers

-1.83% is  the return (in percent) of the stock market that day which was asked.

12,743.40 was the final price, which was lower.

It denotes that the initial cost was

$12,743.40 + $237.44

= $12,980.44.

The return percentage will be the

100x the return / initial cost

=- - 237.44/12,980.44 x 100

= - 0.018291574 x 100

= - 1.83%

The NASDAQ exchange is a prime illustration of a stock exchange. The National Association of Securities founded the NASDAQ stock exchange on February 4th, 1971. Four days later, the NASDAQ stock exchange's first trading day was announced.

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for the cash flows in the previous problem, suppose the firm uses the npv decision rule. at a required return of 9 percent, should the firm accept this project? what if the required return was 21 percent?

Answers

As the NPV is positive at 9%, the project's benefits exceed the costs and we should adopt the project.

What is NPV?

The difference between the current value of cash inflows and withdrawals over a period of time is known as net present value (NPV). In capital budgeting and investment planning, NPV is used to assess the profitability of a planned investment or project.

The NPV of a design is the PV of the exoduses minus the PV of the inrushes. The equation for the NPV of this design at a 9 percent needed return is

NPV = -$168,500 + $86,000 /1.09 + $91,000 /(1.09)² + $53,000 /(1.09)³

= -$168,500 + $196,418

= $27,918

As the NPV is positive at 9%, the project's benefits exceed the costs and we should adopt the project.

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Your journal why do so many americans believe that car payments are just a normal way of life?.

Answers

To ward off the effects of Murphy's Law: Anything that has the potential to go wrong will. In the event that relatively minor, unanticipated events occur, such as those for which you would typically reach for your credit card, a $1,000 savings account serves as a buffer.

How can the debt snowball method accelerate your debt repayment?

Pay the minimum on all of your debts, except for the smallest one, until it is paid off, then apply the paid-off debt's payment to the next debt on the list, continuing to "snowball" payments toward each larger debt. In order to pay off your debts, arrange them in order from smallest to largest.

Why is it that people who don't pay with cash are more likely to spend too much?

When compared to cash, credit card users typically spend more. They are not only more likely to make more impulse purchases and give larger tips, but they are also more likely to buy something at a higher price.

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question which market participants are most likely to limit the use of leverage in the management of their accounts?

Answers

Exchange-traded funds are part of a class of institutional buyers referred to as real cash accounts. They are commonly constrained in their use of leverage or economic derivatives in their accounts

What do change traded money do?

ETFs or "exchange-traded funds" are precisely as the title implies: funds that trade on exchanges, normally tracking a precise index. When you invest in an ETF, you get a bundle of belongings you can purchase and sell during market hours—potentially lowering your danger and exposure, while supporting to diversify your portfolio.

What are the sorts of change traded funds?

As the name suggests, an exchange-traded fund can be bought and sold immediately from a brokerage account. An ETF can represent securities, commodities, and index funds. The fantastic part is, not like ordinary mutual funds, you can purchase and promote ETFs at any point in time on the inventory exchange.

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buyers of a product will bear the larger part of the tax burden, and sellers will bear a smaller part of the tax burden, when the supply of the product is more elastic than the demand for the product. true false

Answers

True because as given the supply of the product is more elastic than the demand for the product.

When demand is more inelastic than supply or when supply is more elastic than demand, buyers or consumers of an item will be responsible for a bigger portion of the tax burden.

The cost of production will rise as a result of the taxation. As a result, the product's price will go up.

If the demand is inelastic, a rise in the product's price will result in a lesser decline in the amount demanded. As a result, buyers will pay a greater price. They therefore shoulder a greater responsibility together.

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the ratio of value-added manufacturing time to the total of both value and non-value-added manufacturing times is known as

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The ratio of value-added manufacturing time to the total of both value and non-value-added manufacturing times is known as cycle efficiency.

Value-Added Time—The amount of time spent on tasks that add value to a process or that customers are willing to pay for. Time spent performing tasks in a process that the client is not prepared to pay for is referred to as non-value added time. Time spent that enhances the results of a manufacturing is referred to as value added time. Usually, this is only the processing time necessary for production. The time spent enhancing the value of a good or service is known as the value added ratio (VAR).

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A retailer bought a carton of 36 deluxe brownie mixes for $43. 20. The markup will be 40 percent. At what price will a box of deluxe brownie mix sell to the public?.

Answers

Answer:

$1.67

Explanation:

If they are purchasing a carton of 36 Deluxe Brownie Mixes for $43, they are paying $1.19 per box. With a 40% markup, that is $0.47 on top or a total price of $1.67 per box.

which of the choices best explains why this price will cause the firm to shut down instead of continuing to operate at a loss? total revenue > total variable costs total variable costs > total fixed costs total revenue < total variable costs total variable costs < total fixed costs total revenue < total fixed costs total revenue > total fixed costs

Answers

Option C. The choices best explains why this price will cause the firm to shut down instead of continuing to operate at a loss is when total revenue < total variable costs.

What is meant by total revenue?

Total revenue is the overall sum of money received by a business through the sale of its products and services. Based on demand and price, it measures how successfully a company is generating revenue from its main operations.

It is determined by multiplying the amount of things sold by their price to determine a business's overall revenue. For instance, the total income would be 100 * $50, or $5,000, if Company A produced 100 widgets and sold them for $50 each.

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greg, a young entrepreneur, has developed an aggressive business plan and is presenting his profit projections on the popular show shark tank in hopes of securing some venture capital. he concludes his presentation with an lp model of his planned product mix, and is convinced he will seal the deal by demonstrating that his profits are limitless since his lp model is unbounded. what should the sharks tell him?

Answers

Unbound capability a kind of new business software that is reviewed due to agents not having binding authority alongside with confirming acceptability, eligibility, insurability, and issuance based on our underwriting tips and manuals.

How are unbound reports spaced?

Body of report: The body of the report may be SS (single-spaced) or DS (double spaced), on the other hand DS is preferred. Between paragraphs: A DS (double space) have to be left between the paragraphs. Textual citations are references used to supply credit for quoted or paraphrased material.

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global economies of scale can be realized by: group of answer choices restricting the expansion of overseas sales. limiting the utilization of production facilities. curbing bargaining power with suppliers. decreasing cost savings through learning effects. spreading the fixed costs associated with developing a product.

Answers

Global economies of scale can be realized by spreading the fixed costs associated in terms of the development of products.

So, the correct option is E.

The concept of economies of scale describes the phenomenon of declining marginal costs resulting from each additional unit of output. As a business becomes more specialized and can create more products with fewer input costs, it begins to enjoy economies of scale. By increasing output and reducing expenses, businesses may attain economies of scale. Costs are divided to form more products, which causes this. Costs come in fixed as well as variable forms.

The global economy is inherently dependent on commerce since it enables nations to acquire whatever resource they require, regardless of whether it is produced domestically or not. Trade helps to make these resources more accessible.

 

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rough water llc and schafer enter into a contract for the delivery of a certain number of river rafts. until the rafts are delivered and paid for, the parties have a. an executory contract. b. a quasi contract. c. an executed contract. d. no contract.

Answers

Rough water llc and schafer enter into a contract for the delivery of a certain number of river rafts. until the rafts are delivered and paid for, the parties have an executory contract.

A contract that has not yet been fully completed or executed is known as an executory contract. It is a contract in which both parties still have significant performance obligations. However, even if the duty to pay money is significant, it does not normally render a contract executory.

Once a court orders the parties to a contract to specifically perform the contract, the parties are no longer bound by any material obligations under the contract, rendering it non-executable.

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a cost that does not affect the decision because it is not in the future or does not differ among alternatives is a(n) .

Answers

Irrelevant costs are those that do not differ between alternatives or do not have an impact on the decision because they are present-day costs.

What are Irrelevant costs?

Any costs—positive or negative—that wouldn't be impacted by a management decision are irrelevant costs. As a result, irrelevant costs like fixed expenses and sunk costs are disregarded when that choice is made. A manager must, however, be able to recognize an unnecessary expense in order to perhaps rescue the company. For managers making decisions regarding the profitability of various alternatives, categorizing costs as irrelevant or relevant is useful. The choice being made has no bearing on costs that remain constant regardless of the option selected. It's critical to formally define and record costs that should not be taken into account when making a decision because they might be relevant costs in another management decision.

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how many additional days are brokers given to provide the seller notice from the attorney holding the escrow funds that the deposit was either received or not received?

Answers

The Broker is required to reconcile every escrow account within ten days of receipt of the month-to-month bank statement.

How lengthy ought to brokers continue deposits and different escrow money in Florida?

Each broking shall retain at least one legible replica of all books, accounts, and archives pertaining to her or his real property brokerage business for at least 5 years from the date of receipt of any money, fund, deposit, check, or draft entrusted to the dealer or, in the event no dollars are entrusted to the broker

How lengthy is the escrow length in Florida?

The duration that you are "in escrow" is often 30 days, but may additionally be longer or shorter. During this time, each item distinct in the contract need to be performed satisfactorily. By the time you have opened escrow, you have come to an agreement with the seller on the closing date and the contingencies.

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what role did consumers play in slowing the economy down in the 1920s? consumers demanded fewer goods.

Answers

Consumers demanded fewer goods is the role of consumers plays in slowing the economy down in the 1920s.

An economy encompasses all of the activities associated with the manufacturing, consumption, and trade of goods and services in an entity, whether or not the entity is a country or a small metropolis. No economies are equal. every is formed in keeping with its personal resources, lifestyle, legal guidelines, records, and geography.

An economy is an area of the manufacturing, distribution and trade, in addition to consumption of products and services. In fashionable, it's miles defined as a social area that emphasize the practices, discourses, and cloth expressions related to the production, use, and control of scarce resources'.

Economics play a role in all of the following main existence reviews: How the government plans rules. The nation of the housing market and actual estate investment possibilities. The capacity to make smart financial choices.

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impossible corporation just paid a dividend of $1.93 per share. the dividends are expected to grow at 24 percent for the next eight years and then level off to a growth rate of 3.5 percent indefinitely. if the required return is 12 percent, what is the price of the stock today? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answers

Consequently, the share price is $78.09

The dividend growth model establishes the connection between a stock's intrinsic value and dividend payments. The stock's value is based on the present value of all dividends discounted at the required rate of return, and it assumes that dividend growth is constant.

The stock price after eight years is as follows:

D0 = $1.93 The growth rate over the next eight years is 12 percent; D8 = D0 * (1 + 0.16)8 = $4.26 The growth rate after that is g = 0.05; D9 = D8 * (1 + 0.05) = $4.475 Let the price be P8 after eight years. The required return is 11 percent = 0.11.

What differentiates growth from growth rate?

The factor by which a quantity multiplies itself over time is called the growth factor. The sum by which a quantity grows or shrinks over time is known as its growth rate.

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in the united states in 2014 real gdp per person was about $56,000, while in some poor countries real gdp per person was less than $5,000. a. true b. false

Answers

In some poor countries real GDP per person was less than $5,000 true .

What is the difference between nominal GDP and real GDP ?

Based on the price of the same-year commodities and services, nominal GDP measures the monetary worth of all things and services produced inside a nation's internal borders. Nominal GDP is the Gross Domestic Product (GDP) that excludes the effects of inflation. A nation's nominal GDP is calculated using current-year pricing for goods and services.

Real GDP measures the monetary worth of all products and services generated within a nation's internal borders using the base year's prices for goods and services. Real GDP is a nation's GDP that has been corrected for inflation. Baseline year prices or constant prices of goods and services are used to express a country's real GDP.

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the primary insurer has a 40% quota share treaty with a reinsurer as shown below: the risk premium is decided as 0.002 of the risk amount (sum insured) the sum insured by the primary insurer is 1,000,000. according to the treaty, the primary insurer retain 60% of the sum insured and the reinsurer accept the 40% of the sum insured. at the end of the insurance period, the amount of losses is reported as 800,000. how much does the reinsurer accept the risk, which is the value of x in the table?

Answers

The value of (X) reinsurer accepts is 400000. the value of (Z) reinsurer accepts is 320000. the value of (Y) reinsurer accepts is 800.

The primary insurer retains = Sum Assured x% of primary retains = 1,000,000 x 60% = 600,000.

Reinsurer accepts = Sum Assured x% of Reinsurer Quota Share = 1000000 x 40% = 400000

The reinsurer accepts a premium of x% of the reinsurer quota share, which is 2000 multiplied by 40% to equal 800.

The losses the reinsurer accepts = losses x% of reinsurer quota share = 800000 x 40% = 320000

The value of (Z) that the reinsurer accepts is 320000.

The standard regular conjugation is used after "accepts": I accept, you accept, he or she accepts (singular); we accept, you accept, they accept (plural). A company that offers financial security to insurance companies is referred to as a reinsurer. Reinsurers manage risks that are too big for insurance companies to manage on their own and enable insurers to attract more business than they otherwise would.

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