Answer:
4 percent Increase in Production Worker Wages
Indication of the standard cost variances affected:
c. Labor rate variance
e. Variable overhead spending variance
Explanation:
An increase in production workers wages as a result of workers' union agreement with management will affect the labor rate variance and the variable overhead spending variance. Production workers are factory or manufacturing workers. The expenses incurred on them include the direct labor costs and the indirect labor costs. Direct labor cost is a function of the rate of pay and hours worked or any other parameter used for paying their wages. Indirect labor cost is influenced by the wages of indirect labor in the production unit, like factory supervisors.
If actual overhead incurred during a period exceeds applied overhead, the difference will be a credit balance in the Factory Overhead account at the end of the period.
True or False
Answer:
faslee
Explanation:
plz mark Me As Brainleast ...
In March, Kelly Company had the following unit production costs: materials $11 and conversion costs $8. On March 1, it had no work in process. During March, Kelly transferred out 22,000 units. As of March 31, 4,100 units that were 45% complete as to conversion costs and 100% complete as to materials were in ending work in process.
Required:
a. Compute the total units to be accounted for.
b. Compute the equivalent units of production.
c. Prepare a cost reconciliation schedule, including the costs of materials transferred out and the costs of materials in process.
Answer:
a. 26,100 units
b. Materials = 26,100 units Conversion Costs = 23,845 units
c.
cost reconciliation schedule
Inputs
Beginning Work In Process $0
Started $477,500
Totals = $477,500
Outputs
Completed and Transferred Out : (22,000 × $19) = $418,000
Ending Work In Process : = $59,500
Materials (4,100 × $11)
Conversion Costs (1,845 × $8)
Totals = $477,500
Explanation:
a.Total units to be accounted for
Units Completed and Transferred Out 22,000
Units in Ending Work In Process 4,100
Total units to be accounted for 26,100
b. Compute the equivalent units of production.
Materials
Units Completed and Transferred Out (22,000 × 100%) = 22,000
Units in Ending Work In Process (4,100 × 100%) = 4,100
Total units to be accounted for = 26,100
Conversion Costs
Units Completed and Transferred Out (22,000 × 100%) = 22,000
Units in Ending Work In Process (4,100 × 45%) = 1,845
Total units to be accounted for = 23,845
Zelda Partnership holds cash of $30,000 and inventory worth $60,000 (basis equals $42,000). Zelda makes a $30,000 cash liquidating distribution to Link, a one-third partner with an outside basis of $24,000. How much gain or loss, if any, does Link recognize
Answer:
6,000 ordinary gain
Explanation:
The computation of gain or loss is shown below:-
Given that
Worth of an inventory = $60,000
Basic inventory = $42,000
Now if we divide this two by each other so the percentage would be
= $60,000 ÷ $42,000 i.e to be greater than the 120% and it is said that the one third would be considered of $18,000
The $18,000 come from
= $42,000 - $24,000
= $18,000
Now its one third is $6,000 and the same is to be treated as ordinary gain
Sharmer Company issues 5%, 5-year bonds with a par value of $1,000,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6%. What is the bond's issue (selling) price, assuming the following factors: n= i= Present Value of an Annuity Present value of $1 5 5 % 4.3295 0.7835 10 3 % 8.7521 0.7812 5 6 % 4.2124 0.7473 10 3 % 8.5302 0.7441
Answer:
$957,349
Explanation:
the market price of the bonds = PV of face value + PV of coupon payments
PV of face value = $1,000,000 / (1.03)¹⁰ = $744,094
PV of coupon payments = $25,000 x 8.5302 (PV annuity factor, 3%, 10 periods) = $213,255
market price of the bonds = $744,094 + $213,255 = $957,349
journal entry to record the issuance of the bonds:
Dr Cash 957,349
Dr Discount on bonds payable 42,651
Cr Bonds payable 1,000,000
Direct Write-Off Method ournalize the following transactions using the direct write-off method of accounting for uncollectible receivables.
Jan. 17: Received $3,220 from Paula Spitler and wrote off the remainder owed of $6,630 as uncollectible. If an amount box does not require an entry, leave it blank.
Mar. 17 Allowance for Doubtful Accounts Accounts Receivable-Paula Spitler
Apr. 6: Reinstated the account of Paula Spitler and received $5,820 cash in full payment. Reinstate Collection Percent of Sales Method At the end of the current year, Accounts Receivable has a balance of $3,460,000; Allowance for Doubtful Accounts has a debit balance of $12,500; and sales for the year total $46,300,000. Bad Debt Expense is estimated at ½ of 1% of sales
a. Determine the amount of the adjusting entry for uncollectible accounts.
b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
c. Determine the net realizable value of accounts receivable. 3,460,000.
Answer:
In percent of Sales method the balance for allowance for doubtful accounts on the balance sheet and the income statement is never the same as the old and new bad debts may have different balances.
Explanation:
Journal Postings
Date Particulars Debit Credit
Jan 17 Cash $3220
Bad Debts $ 6630
Accounts Receivable-Paula Spitler $ 9850
Mar 17 Accounts Receivable-Paula Spitler $5,820 Dr
Allowance for Doubtful Accounts $5,820 Cr
Re instating the account of Paula Spitler
Apr 6 Cash $ 5820 Dr
Accounts Receivable-Paula Spitler $5,820 Cr
Payment received in full.
Percent of Sales Method
Accounts Receivable $3,460,000;
Allowance for Doubtful Accounts $12,500 debit;
Sales $46,300,000.
Bad Debt Expense is estimated at ½ of 1% of sales
a. Adjusting entry for uncollectible accounts.
Bad debts = 1/2 of 1 % of $ 46,300,000;= $ 231500
Bad Debts Expense $ 231 500 Dr
Allowance for Doubtful Accounts 231,500 Cr
b. Accounts Receivable $3,460,000;
Less Allowance for Doubtful Accounts 231,500 Cr
Accounts Receivable Balance = $ 3228500
Bad Debts Balance $ 231 500
Allowance for Doubtful Accounts $231,500
c. Accounts Receivable $3,460,000;
Less Allowance for Doubtful Accounts 231,500 Cr
Net Realizable value of Accounts Receivable $ 3228500
Suppose that borrowing is restricted so that the zero-beta version of the CAPM holds. The expected return on the market portfolio is 17%, and on the zero-beta portfolio it is 8%. What is the expected return on a portfolio with a beta of .6?
Answer:
10.4%
Explanation:
The computation of expected return on a portfolio is shown below:-
Expected return = Risk Free return + 5%Beta ( Market Return - Risk Free return)
= 5% + 0.60 × (17% - 8%)
= 5% + 5.4%
= 10.4%
Therefore for computing the expected return on a portfolio with a beta of .6 we simply applied the above formula.
The market return less risk free return is known as market risk premium
A metal fabricator produces connecting rods with an outer diameter that has a 1 ± .01 inch specification. A machine operator takes several sample measurements over time and determines the sample mean outer diameter to be 1.002 inches with a standard deviation of .003 inch.
a. Calculate the Cp of the process. (Round your answer to 3 decimal places.)
Cp =
b. Calculate the Cpk of the process. (Round your answer to 3 decimal places.)
Cpk =
Answer:
A) 1.111
B) 0.889
Explanation:
given data :
outer diameter of connecting rods = 1 ± 0.01 inch
sample mean outer diameter = 1.002 inches
standard deviation = 0.003 inches
A) Calculating the Cp of the process
mean = 1.002
Standard deviation = 0.003
LSL = 1 - 0.01 = 0.99
USL = 1 + 0.01 = 1.01
[tex]Cp = \frac{USL - LSL}{6 * STANDARD DEVIATION}[/tex] = [tex]\frac{1.01-0.99}{6*0.003}[/tex] = 1.111
B) calculate Cpk
mean = 1.002, LSL = 0.99, USL = 1.01 , deviation = 0.003
[tex]Cpk = min[\frac{mean-LSL}{3* deviation} , \frac{USL- mean}{3*deviation} ][/tex]
= min [(0.012/0.009) , (0.008/0.009) ]
= min [ 1.333, 0.889 ]
hence Cpk = 0.889
Logan and Johnathan exchange land, and the exchange qualifies as like kind under § 1031. Because Logan's land (adjusted basis of $193,000) is worth $231,600 and Johnathan's land has a fair market value of $183,350, Johnathan also gives Logan cash of $48,250. a. Logan's recognized gain is $ . b. Assume that Johnathan's land is worth $208,440 and he gives Logan $23,160 cash. Logan's recognized gain is $ .
Answer:
a. Logan's recognized gain is $38,600
b. Logan's recognized gain is $23,160
Explanation:
a. If the worth of the land for Jonathan is $183,350, then the gain recognized by Logan would be;
the lower of the realized gain between the amount realized of $231,600 - adjusted basis of $193,000 = $38,600
or the fair market worth of the received boot i.e $48,250.
Therefore, Logan's recognized gain is $38,600
b. Suppose Jonathan's land is worth, $208,440, then we can calculate Logan's recognized gain to be ;
the lower of the realized gain I.e amount realized of $231,600 - adjusted basis $193,00 = $38,600
or the fair market value of the received boot I.e $23,160 .
Therefore, Logan's recognized gain is $23,160
produces sports socks. The company has fixed expenses of $ 75 comma 000$75,000 and variable expenses of $ 0.75$0.75 per package. Each package sells for $ 1.50$1.50. Read the requirementsLOADING.... Requirement 1. Compute the contribution margin per package and the contribution margin ratio. Begin by identifying the formula to compute the contribution margin per package. Then compute the contribution margin per package. (Enter the amount to the nearest cent.) – = Contribution margin per unit
Answer:
Results are below.
Explanation:
Giving the following information:
Selling price= $1.5
Unitary variable cost= $0.75
First, we need to calculate the unitary contribution margin:
Contribution margin= selling price - unitary variable cost
Contribution margin= 1.5 - 0.75
Contribution margin= $0.75
Now, we can calculate the contribution margin ratio:
contribution margin ratio= contribution margin/selling price
contribution margin ratio= 0.75/1.5
contribution margin ratio= 0.5
Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 6,900 copies. The cost of one copy of the book is $13. The holding cost is based on an 15% annual rate, and production setup costs are $155 per setup. The equipment on which the book is produced has an annual production volume of 21,500 copies. Wilson has 250 working days per year, and the lead time for a production run is 15 days. Use the production lot size model to compute the following values:
a. Minimum cost production lot size
b. Number of production runs per year
c. Cycle time
d. Length of a production run
e. Maximum inventory
f. Total annual cost
g. Reorder point
Answer:
(a) 863.07 copies
(b) 7.99 runs per year
(c) 31.27 days
(d) 10.04 days
(e) 586.08 copies
(f) $1,810.61
(g) 414 copies
Explanation:
Given that ;
Annual demand (D) = 6,900 copies
Cost of the book (C) = $13
Holding cost (H) = 15% of cost of book
= 15% × $13
= $1.95
Set up cost (S) = $155
Annual production volume= 21,500 copies
Number of working days = 250
Lead time(L)= 15
Daily demand (d) = Annual demand ÷ Number of working days
= 6,900 ÷ 250
= 27.6 copies
Daily production (P) = Annual production ÷ Number of working days
= 21,500 ÷ 250
= 86 copies
(a) Minimum cost of production lot size
Q = √ 2×D×S/H × (1-d/p)
Q = √2×6,900×155/1.95 × (1-27.6/86)
Q = 863.07 copies
(b) Number of production runs
= Annual demand (D) ÷ Production quantity (Q)
= 6,900 ÷ 863.07
= 7.99 runs per year
(c) Cycle time = Production quantity (Q) ÷ Daily demand (D)
= 863.07 ÷ 27.6
= 31.27 days
(d) Length of a production run = Production quantity (Q) ÷ Daily production (P)
= 863.07 ÷ 86
= 10.04 days
(e) Maximum inventory (IMAX)
= Q × (1-d÷p)
= 863.07 × (1-27.6÷86)
= 586.08 copies.
(f) Total annual cost
= Annual holding cost + Annual set up cost
= [(Q÷2) × H × (1-d÷p)] + [(D÷Q) × S]
= [(863.07÷2)×1.95×(1-27.6÷86)] + [(6,900÷863.07)×155]
= 571.43 + 1,239.18
= $1,810.61
(g) Reorder point
= Daily demand × lead time
= 27.6 × 15
= 414 copies
The Cash account in the ledger of Clear Windows shows a balance of $12,596 at September 30. The bank statement, however, shows a balance of $16,253 at the same date. The only reconciling items consist of a bank service charge of $16, a large number of outstanding checks totaling $6,740, and a deposit in transit. Refer to the information above. What is the adjusted cash balance in the September 30 bank reconciliation
Answer:
Adjusted Cash Balance $ 12,596
Explanation:
September 30 Cash account balance$12,596
September 30 Bank statement, balance $16,253
September 30 Difference in balances $3657
Clear Windows
Bank Reconciliation Statement
September 30 Bank statement, balance $16,253
less Outstanding checks $6,740,
Less Bank service charge $16,
Add Deposit in Transit $ 3099
September 30 Cash account balance $ 12,596
Adjusted Cash Balance is the same as the cash book balance.
We start from the bank balance , dot the necessary adjustments and get the same cash book balance.
BPO Services is in the business of digitizing information from forms that are filled out by hand. In 2006, a big client gave BPO a distribution of the forms that it digitized in house last year, and BPO estimated how much it would cost to digitize each form. Form Type Mix of Forms Form Cost A 0.5 $3.75 B 0.5 $1.25 The expected cost of digitizing a form is $ . Suppose the client and BPO agree to a deal, whereby the client pays BPO to digitize forms. The price of each form processed is equal to the expected cost of the form that you calculated in the previous part of the problem. Suppose that after the agreement, the client sends only forms of type A. The expected digitization cost per form of the forms sent by the client is $ . This leads to an expected loss of $ per form for BPO. (Hint: Do not round your answers. Enter the loss as a positive number.)
Answer:
BPO Servicesa. The expected cost of digitizing a form is $2.50
b. The expected digitization cost per form of the forms sent by the client is $3.75, without a mix of forms.
c. This leads to an expected loss of $1.25 per form for BPO.
Explanation:
1. Data:
Form Type Mix of Forms Form Cost
A 0.5 $3.75
B 0.5 $1.25
b. Calculation of Expected Cost of digitizing a form:
Form Type Mix of Forms Form Cost Expected Cost
A 0.5 $3.75 $1.875 (0.5 * $3.75)
B 0.5 $1.25 $0.625 (0.5 * $1.25)
Total expected costs $2.50
c. Calculation of Expected cost of Form actually sent by Client without a mix of forms:
A 01 $3.75 $3.75 (1 * $3.75)
Total expected costs $3.75
d. Calculation of Expected Loss:
Expected Price = $2.50
Expected cost = $3.75
Expected loss = $1.25
e. The expected value (cost, price, or gain or loss) from the form digitization is the sum of all possible values from the mix of forms, each multiplied by the probability of its occurrence.
Raggs, Ltd. a clothing firm, determines that in order to sell x suits, the price per suit must be pequals180 minus 0.5 x. It also determines that the total cost of producing x suits is given by Upper C (x )equals5000 plus 0.75 x squared. a) Find the total revenue, Upper R (x ). b) Find the total profit, Upper P (x ). c) How many suits must the company produce and sell in order to maximize profit? d) What is the maximum profit? e) What price per suit must be charged in order to maximize profit?
Answer:
Explanation:
(a) R(x) = x(150 - 0.75x) => 150x - 0.75x²
(b) P(x) = R(x) - C(x) => 150x - 0.75x² - (2000 + 0.75x²)
so, P(x) = 150x - 2000 - 1.5x²
(c) Now, P '(x) = 150 - 3x = 0....at maximum
i.e. when x = 50 suits
(d) P(50) = 150(50) - 2000 - 1.5(50)²
=> 7500 - 2000 - 3750
i.e. £1750
(e) price --> 150 - 0.75(50) => 150 - 37.5
Hence, price per suit is £112.50 in order to maximise profits.
If a check correctly written and paid by the bank for $936 is incorrectly recorded in the company's books for $963, how should this error be treated on the bank reconciliation
Answer:
The difference of $27 will be added in the bank reconciliation statement.
Explanation:
With regards to the above information,
Since bank paid $936 but was recorded as $963 in the company's books.
The difference would therefore be ;
= $963 - $936
= $27.
This means that in the company's books, the balance is shown less than the actual balance by $27
Therefore, $27 will be added to the balance in the bank with regards to the books while preparing the bank reconciliation statement.
Hence, $27 which is $963 - $936 will be added in the bank reconciliation statement.
If a company produces the same number of units per period over an asset's useful life, each period's depreciation expense using the straight-line method will be the same as that recorded using the units-of-production method.
A. True
B. False
Answer:
The answer is true.
Explanation:
Straight-line method of depreciation spreads the depreciation cost evenly over the life of the asset. The amount of depreciation is the same year in year out. It can be calculated as follows:
(Cost of the asset - residual value) ÷ number of useful life of the asset.
While units-of-production method is almost the same as the straight-line method. It is calculated as:
(Cost of the asset - residual value) ÷ expected number of units of production throughout the useful life of the asset.
Since the number of units of production will be same throughout the life span of the asset, the depreciation expense will also be the same
3. Explain how perception errors such as the Primacy effect has negative impact on job performance of an individual
Explanation:
The primacy effect entails an individual's perceived memory priority, and so may negatively impact an individual's job performance as he may bigin to recall details of only earlier job task over later ones, or may recall earlier company policies on a list over those mentioned last.
This tendency if found in an individual may reduce his job performance as most employers require their employees to pay close attention to details.
What is the forecasted value of property, plan and equipment (PP&E) based on the following information: Capital asset turnover ratio: 2.5 Forecasted revenues: $120 Forecasted costs of goods sold: $80
Answer:
Forecasted value of property, plan and equipment (PP&E) is $48.
Explanation:
First note that Capital asset is the same thing as property, plan and equipment (PP&E).
In order to calculate this, we therefore use the formula for calculating the Capital asset turnover ratio which is the ratio of forecasted revenues to forecasted value of property, plan and equipment (PP&E) as follows:
Capital asset turnover = Forecasted revenues / Forecasted value of PP&E
Substituting for the values in the question into the equation above and solve for Forecasted value of PP&E, we have:
2.5 = 120 / Forecasted value of PP&E
Forecasted value of PP&E = 120 / 2.5 = $48
Therefore, the forecasted value of property, plan and equipment (PP&E) is $48.
The forecasted value of property, plan and equipment for the period for the statement quoted above is $48. The calculations can be implied by using the values given in the formula.
The value of the property, plan and equipment is important for estimating the current, short run and long run capital requirements of the firm for a given period using the ratios.
The values given to us are as the capital assets turnover ratio is 2.5 and the forecasted costs of goods sold is $80 whereas the forecasted revenues of the firm is $120.The calculation of estimated property, plan and equipment of a firm can be calculated by using the formula as given below by putting the available values.[tex]\rm Forecasted\ PP\&E= \dfrac {Forecasted\ Revenues}{Capital\ Assets\ Turnover\ Ratio}\\\\\\\\\rm Forecasted\ PP\&E= \dfrac {\$120}{2.5}[/tex]We get the forecasted PP&E of the firm as below, [tex]\rm Forecasted\ PP\&E= \$48[/tex]Therefore the value obtained for the forecasted PP&E of the firm is $48.Hence, the correct statement of the forecasted PP&E of the firm is $48 when the forecasted revenues are $120 and the assets turnover ratio stands at 2.5.
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Braynerd Chemicals sells 40 million shares of stock in an SEO—25 million being primary shares issued by the company and 15 million being secondary shares sold by investors in the company. At the time of the sale, Braynerd's stock was selling at $21.00 per share. If the underwriter charges 5% of the gross proceeds as a fee, how much money was raised in the sale?
Answer: $498.75 million
Explanation:
Of the 40 million shares sold by Braynerd Chemicals, 15 million were sold as secondary shares by investors in the company. The proceeds from these 15 million will therefore not go to the company but to the investors so they are not counted.
Gross total money raised will be;
= 25 million * 21.00
= $525 million
The Underwriter charges 5% of the gross amount as a fee so the Net amount raised will be;
Net Total = 525 * ( 1 - 5%)
Net Total = $498.75 million
Given the following cash flows for a capital project, calculate its payback period and discounted payback period. The required rate of return is 8 percent.
Year
0 1 2 3 4 5
Glass Flows $51100 $13150 $16050 $23900 $12400 $3050
The discounted payback period is:________.
a. 0.39 year longer than the payback period.
b. 0.64 year longer than the payback period.
c. 0.76 years longer than the payback period.
d. 0.25 years longer than the payback period.
Answer:
c. 0.76 years longer than the payback period.
Explanation:
Payback period calculates how long it takes to recover the amount invested in a project from its cumulative cash flows.
the amounted invested in the project = $-51100
In year 1, the amount recovered = $-51,100 + $13150 = $-37,950
In year 2, the amount recovered = $-37,950 + $16050 = $-21,900
In year 3, the amount recovered = $-21,900 + $23900 = $2000
the amount invested is recovered in 2 + 21,900 / 23900 = 2.92 years
Discounted payback period calculates how long it takes to recover the amount invested in a project from its cumulative cash flows.
discounted cash flows
$13150 / 1.08 = $12,175.93
$16050 / 1.08^2 = $13,760.29
$23900 / 1.08^3 = $18972.59
$12400 / 1.08^4 = $9114.37
the amount is recovered in 3 + 6191.19 / 9114.37 = 3.68 years
the discounted payback is longer than the payback period by 3.68 years - 2.92 years = 0.76 years
Your bank offers a savings account that pays 3.5% interest, compounded annually. If you invest $1,000 in the account, then how much will it be worth at the end of 25 years
Answer:
The account will be worth $2,363.25 at the end of 25 years.
Explanation:
Enter the following data in financial calculator
PV = - $1,000
r = 3.5 %
P/yr = 1
n = 25
PMT = $0
FV = ?
Using the Financial Calculator, the future value (FV) after 25 years will be $2,363.25.
Therefore, the account will be worth $2,363.25 at the end of 25 years.
The following account balances were extracted from the accounting records of Thomas Corporation at the end of the year:
Accounts Receivable $1,100,000
Allowance for Uncollectible Accounts (Credit) $37,000
Uncollectible-Account Expense $63,000
What is the net realizable value of the accounts receivable?
A. $1,137,000
B. $1,063,000
C. $1,100,000
D. $1,163,000
Answer: $1,063,000
Explanation:
Net realizable value is the value of an asset that a company will get when the asset is sold minus the cost that came with the asset sales.
The net realizable value of the accounts receivable will be the accounts receivable of $1,100,000 minus the allowance for uncollectible accounts which was given as $37,000.
= $1,100,000 - $37,000
= $1,063,000
An example of a societal ___________ is Germans' lack of interest in using credit cards like Visa and MasterCard, perhaps in part because the German word for 'debt' is the same as the word guilt.
Answer: values
Explanation:
Societal values can simply be defined as the moral principles defined by the traditions, society dynamics, and cultural beliefs.
These values impact on the behavior of the people. An example is Germans' lack of interest in using credit cards like Visa and MasterCard, because the German word for 'debt' is the same as the word guilt. This hae to do with their belief and values.
For each ratio listed, identify whether the change in ratio value from 2014 to 2015 is usually regarded as favorable or unfavorable.
Ratio 2015 2014
1. Profit margin 9% 8%
2. Debt ratio 47% 42%
3. Gross margin 34% 46%
4. Acid-test ratio 1.00 1.15
5. Accounts receivable turnover 5.5 6.3
6. Bank earnings per share $1.25 $1.58
7. Inventory turnover 3.6 3.4
8. Dividend payout 2.0% 1.2%
Answer:
1. Favorable
2. Unfavorable
3. Unfavorable
4. Favorable
5. Favorable
6. Unfavorable
7. Favorable
8. Favorable
Explanation:
1. Favorable
Less Profit is now being earned per sale
2. Unfavorable
More Debt more Financial risk
3. Unfavorable
Less Profit is now being earned per sale
4. Favorable
A lower ratio is good shows efficiency utilization of resources
5. Favorable
The company is efficient in collection of debt
6. Unfavorable
The earning per share is lower
7. Favorable
More efficient in inventory management
8. Favorable
More return given to investors
Holding other things constant, a decrease in the inflation rate in the US compared to the Canadian economy will cause the demand for the Canadian dollar to
Answer: To decrease, and the supply for Canadian dollar to increase.
Explanation: Inflation is an increase in the general price levels within an economy over a given period of time, when their is inflation in a given economy it causes the depreciation of the value of the currency of that economy and hence reduced demands for that currency and an increase in the supply for that currency which in this case is the Canadian dollar.
A state has strict laws stating that all employees, including part-time workers, must be compensated with employer-provided health benefits. Which of the following could result from this legislation?
1. More workers will be hired "informally" and be paid surreptitiously in cash.
2. Wages will decrease.
3. Unemployment will increase.
4. Any of the above could result from the legislation.
Answer: Any of the above could result from the legislation
Explanation:
From the question, we are informed that a state has strict laws stating that all employees, including part-time workers, must be compensated with employer-provided health benefits.
The likely effect of this law is that there will be a reduction on wages as employer's will try as much as possible to reducce cost incurred due to the health related compensation. Also, unemployment will increase and more workers will be hired "informally" and be paid surreptitiously in cash. This is because the cost of the employers will increase and they may need to lay some workers off.
Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below:
Hours
Wait time 12.5
Process time 1.6
Inspection time 0.8
Move time 4.2
Queue time 5.9
The delivery cycle time was:______
Answer:
Santoyo Corporation
Tracking Time to Fill Orders:
The delivery cycle time was 25 hours.
Explanation:
The delivery cycle time sums the time occasioned by the supply delay and the reordering delay before the goods reach the customer. As an order is received by Santoyo Corporation there is usually a wait time of half a day or 12.5 hours. The processing of the order consumes 1.6 hours. Before delivery is made, the inspectors spend 0.8 hours or 48 minutes doing what they know best. Then, freight takes 4.2 hours for the delivery van to reach the customer's warehouse. At that point, another 5.9 hours are spent queueing for the receipt of the goods by the customer.
Carmen Camry operates a consulting firm called Help Today, which began operations on August 1. On August 31, the company’s records show the following selected accounts and amounts for the month of August.
Cash $25,330 Dividends $5,960
Accounts receivable 22,330 Consulting fees earned 26,970
Office supplies 5,210 Rent expense 9,510
Land 43,980 Salaries expense 5,580
Office equipment 19,970 Telephone expense 840
Accounts payable 10,730 Miscellaneous expenses 490
Common stock 101,500
Required:
Use the above information to prepare an August 31 balance sheet
Answer:
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Balance Sheet
For the month ended August 31, 202x
Assets:
Cash $25,330
Accounts receivable $22,330
Office supplies $5,210
Land $43,980
Office equipment $19,970
Total assets: $116,820
Liabilities and stockholders' equity:
Accounts payable $10,730
Common stock $101,500
Retained earnings $4,590
Total liabilities and stockholders' equity: $116,820
Explanation:
Income statement:
Consulting fees earned $26,970
Rent expense $9,510
Salaries expense $5,580
Telephone expense $840
Miscellaneous expenses $490
Net income $10,550
Retained earnings = net income - dividends = $10,550 - $5,960 = $4,590
In a memo to the college president, the athletic director argues for a new stadium scoreboard. One paragraph will describe the old scoreboard and why it needs to be replaced. Study the following list of ideas for that paragraph. 1. The old scoreboard is a tired warhorse that was originally constructed in the 1970s. 2. It is now hard to find replacement parts when something breaks. 3. The old scoreboard is not energy efficient. 4. Coca-Cola has offered to buy a new sports scoreboard in return for exclusive rights to sell soda pop on campus. 5. The old scoreboard should be replaced for many reasons. 6. It shows only scores for football games. 7. When we have soccer games or track meets, we are without any functioning scoreboard. 1. Which sentence should be the topic sentence? 2. Which sentence(s) should be developed in a separate paragraph? 3. Which sentences should become support sentences?
Answer:
Memo to the College President
New Stadium Scoreboard:
1. Topic Sentence:
5. The old scoreboard should be replaced for many reasons.
2. Sentence(s) for separate paragraph:
4. Coca-Cola has offered to buy a new sports scoreboard in return for exclusive rights to sell soda pop on campus.
3. Support Sentences:
1. The old scoreboard is a tired warhorse that was originally constructed in the 1970s.
2. It is now hard to find replacement parts when something breaks.
3. The old scoreboard is not energy efficient.
6. It shows only scores for football games.
7. When we have soccer games or track meets, we are without any functioning scoreboard.
Explanation:
1. Topic Sentence:
This is the theme or main topic of a paragraph that summarizes the information in the paragraph. It may be the first sentence or inserted elsewhere in the paragraph. But, all other sentences within the paragraph support it with points, reasons, or examples.
2. Support Sentences:
These are sentences that support the topic sentence by offering justifications and examples.
3. Separate Paragraph Sentence:
This is a sentence that introduces another idea which is not closely related to the idea contained in the other paragraph.
Goodard Inc. planned to use $156 of material per unit but actually used $147 of material per unit, and planned to make 1,140 units but actually made 900 units. The sales−volume variance for materials is ________.
Answer:
2700, favorable
Explanation:
To calculate the sales-volume variance for materials, we use the equation as follows;
Sales-volume variance for materials = (Actual Price - Standard Price)*Aqual Quantity
sales-volume variance for materials = (147-150)*900
sales-volume variance for materials = 2700 Favorable
Allowance for Doubtful Accounts has a credit balance of $2,100 at the end of the year (before adjustment), and an analysis of customers' accounts indicates uncollectible receivables of $19,700. Which of the following entries records the proper adjustment for bad debt expense?
a. debit Bad Debt Expense, $21,800; credit Allowance for Doubtful Accounts, $21,800
b. debit Allowance dfor Doubtful Accounts, $17,600; credit Bad Debt Expense, $17,600
c. debit Allowance for Doubtful Accounts, $21,800; credit Debt Expense, $21,800
d. debit Bad Debt Expense, $17,600; crdit Allowance for Doubful Accounts, $17,600
Other receivables includes all of the followoing EXCEPT:
a. taes receivable
b. interest receivable
c. receivables from employees
d. notes receivabe
Answer:
1. Analysis of accounts receivables Allowance Required $19,700
Less: Credit balance available in Allowance account $2,100
Additional allowance required $17,600
The journal entry will be as follows
DEBIT CREDIT
Bad debt expenses $17,600
Allowance for doubtful accounts $17,600
Hence, the correct option is D.
2. Other receivables include all except "Notes Receivables"
Hence, the correct option is D