B MC Qu. 20-87 Masterson Companys budgeted production... Masterson Company's budgeted production calls for 69,000 units in April and 65,000 units in May of a key raw material that costs $1.75 per unit. Each month's ending raw materials inventory should equal 30% of the following month's budgeted materials. The April 1 inventory for this material is 20,700 unit. What is the budgeted materials needed in units for April

Answer:

67,800 units

Explanation:

Given the information above,

The budgeted production for April = 69,000 units

The budgeted production for May = 65,000 units

The cost of raw material per unit = $1.75

At the end of each month, the inventory should be = 30%

The April 1 inventory = 20,700 units

Therefore, the budgeted material in units required for April production

= Materials needed + Ending inventory requirement - Beginning inventory available

= 69,000 + (65,000 × 30%) - 20,700

= 69,000 + 19,500 - 20,700

= 67,800 units

When will the U.S. armed forces provide financial aid?
A. during and after your service
B. before, during, and after your service
C. After you have served two years
D. Before and after your service
PLS ANSWER QUICKLY

Pilgrim Corporation acquires all of the stock of Sonic Company for $5,000,000 in cash. Sonic's net assets had a book value of $3,000,000 at the date of acquisition. The book values of Sonic's assets and liabilities approximate fair values, except that Sonic reports inventories at $900,000 more than fair value and plant assets at $2,000,000 more than fair value. In addition, Sonic has unrecorded identifiable intangible assets with an estimated fair value of $5,000,000, appropriately capitalized according to GAAP. When recording its investment in Sonic, Pilgrim reports:________.
A. $0. No gain or goodwill resulting from the acquisition
B.$100,000 Gain resulting from the acquisition
C. $1,000,000 Goodwill resulting from the acquisition
D. $3,900,000 Gain resulting from the acquisition
E. $3,900,000 Goodwill resulting from the acquisition

how do you think customer service can contribute to a retail business?

Suppose the price level reflects the number of dollars needed to buy a basket of goods containing one can of soda, one bag of chips, and one comic book. In year one, the basket costs $9.00. In year two, the price of the same basket is $8.00. From year one to year two, there isdeflation at an annual rate of 1.25%. In year one, $72.00 will buy____baskets, and in year two, $72.00 will buy____baskets. This example illustrates that, as the price level falls, the value of money____ .

HELP!
Select the correct answer.
Given the following income statement, what is the net income for a given accounting period assuming taxes are $25,000?

Item $
Revenues
Sales 200,000


Expenses
Expenses 15,000
Interest expense 5,000
Cost of goods sold 60,000


Pre-tax income 60,000


Net income


A.
$120,000
B.
$60,000
C.
$35,000
D.
$140,000
E.
$95,000

Aircraft Products, a manufacturer of aircraft landing gear, makes 2,100 units each year of a special valve used in assembling one of its products. The unit cost of producing this valve includes variable costs of $69 and fixed costs of $55. The valves could be purchased from an outside supplier at $76 each. If the valve were purchased from the outside supplier, 40% of the total fixed costs incurred in producing this valve could be eliminated. Buying the valves from the outside supplier instead of making them would cause the company's operating income to:

Braun Company has one service department and two operating (production) departments. Maintenance Department costs are allocated to the two operating departments based on square feet occupied. Listed below are the operating data for the current period:

Department Direct Expenses Square Feet
Maintenance $25,500
Milling 76,500 10,000
Assembly 105,400 15,000

The total cost of operating the Assembly Department for the current period is: _________

A quality analyst wants to construct a control chart for determining whether four machines, all producing the same product, are in control with regard to a particular quality attribute. Accordingly, she inspected 1,000 units of output from each machine in random samples, with the following results:
Machine Total Defectives
#1 23
#2 15
#3 29
#4 13
1. What is the sample proportion of defectives for machine # 1?
a. .023
b. .02
c. .0115
d. .0058
e. .005
2. What is the estimate of the process proportion of defectives for whenever it is under control?
a. .08
b. .06
c. .04
d. .02
e. .01
3. What is the estimate of the standard deviation of the sampling distribution of sample proportions for whenever this process is under control?
a. .016
b. .00016
c. .04
d. .0044
e. .00002
4. What are the control chart lower and upper control limits for an alpha risk of.05?
a. .0128 and.0272
b. .0113 and.0287
c. .013 and.029
d. .0097 and.0303
e. .0068 and.0332
5. For lower and upper control limits of.014 and.026, which machine(s), if any, appear(s) to be out-of-control for process proportion of defectives?
a. machine #3
b. machine #4
c. machines #3 and #4
d. machines #2 and #3
e. none

In preparing its May 31, 2020 bank reconciliation, Sheffield Corp. has the following information available:
Balance per bank statement, 5/31/20 $41000
Deposit in transit, 5/31/20 5900
Outstanding checks, 5/31/20 4000
Note collected by bank in May 1290
The correct balance of cash at May 31, 2020 is:______.
a. $46900.
b. $41610.
c. $42900.
d. $44190.

Which phrase best completes the diagram?
Features of Developing countries
Low per capita income
Limited access to luxury goods
?
O
A. Small population
B. High standard of living
C. Use of fiat currency
D. Low gross domestic product

1. Briefly explain two possible disadvantages to a sole trader of changing to a
Private limited company.

The following information is available for Montrose Company at December 31: Cash in bank account $ 8,540 Petty cash $ 250 Short-term investment (maturing in two months) $ 10,400 Checks from customers $ 1,350 Equipment $ 805 Treasury bill maturing in 60 days $ 10,000 Money orders $ 290 A three-year certificate of deposit maturing in three years $ 6,000 Based on this information, the determine the amount reported as Cash and Cash Equivalents on December 31.

Direct Materials Variances De Soto Inc. produces tablet computers. The company uses Thin Film Crystal (TFC) LCD displays for its products. Each tablet uses one display. The company produced 770 tablets during July. However, due to LCD defects, the company actually used 800 LCD displays during July. Each display has a standard cost of $12.50. Eight hundred LCD displays were purchased for July production at a cost of $9,400. Determine the price variance, quantity variance, and total direct materials cost variance for July. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Price variance$fill in the blank 1 Quantity variance$fill in the blank 3 Total direct materials cost variance$fill in the blank 5

A PPC is curved because

A. Some productive resources are better at certain tasks than other
resources

B. There is a limited amount of productive resources

C. Some goods are harder to make than other goods

John's company acquired 5,000 new customers last year. They spent $20,000 in marketing costs and $15,000 in sales costs. What is John's customer acqu
cost (CAC)?

The CEO of Alta Corp. is dismayed by a lack of effort and insights his directors provide during board meetings. The directors are all outsiders, experienced, and run their own successful firms. The CEO genuinely seeks their greater involvement. What would you recommend?
A) Requiring that the directors own stock in the company.
B) Implementing a director appraisal system.
C) Electing an lead director.
D) All of these choices would increase involvement.

(Pension Expense, Journal Entries, Amortization of Loss) Gottschalk Company sponsors a defined benefit plan for its 100 employees. On January 1, 2017, the company’s actuary provided the following information.
Accumulated other comprehensive loss (PSC) $150,000
Pension plan assets (fair value and market-related asset value) 200,000
Accumulated benefit obligation 260,000
Projected benefi t obligation 380,000
The average remaining service period for the participating employees is 10 years. All employees are expected to receive benefits under the plan. On December 31, 2017, the actuary calculated that the present value of future benefits earned for employee services rendered in the current year amounted to $52,000; the projected benefit obligation was $490,000; fair value of pension assets was $276,000; the accumulated benefit obligation amounted to $365,000. The expected return on plan assets and the discount rate on the projected benefit obligation were both 10%. The actual return on plan assets is $11,000. The company’s current year’s contribution to the pension plan amounted to $65,000. No benefits were paid during the year.
Instructions
(a) Determine the components of pension expense that the company would recognize in 2017. (With only one year involved, you need not prepare a worksheet.)
(b) Prepare the journal entry to record the pension expense and the company’s funding of the pension plan in 2017.
(c) Compute the amount of the 2017 increase/decrease in gains or losses and the amount to be amortized in 2017 and 2018.
(d) Indicate the pension amounts reported in the financial statement as of December 31, 2017.

The income statement and additional data of Minerals ​Plus, Inc.​ follows:
Prepare Minerals ​Plus's statement of cash flows for the year ended September ​30, 2024​, using the indirect method. Include a separate section for​ non-cash investing and financing activities.
Additional information:
a. Acquisition of plant assets is $115.000. Of this amount, $100,000 is paid in cash and S15,000 by signing a note payable.
b. Cash receipt from sale of land totals $21,000. There was no gain or loss.
c. Cash receipts from issuance of common stock total $28.000.
d. Payment of note payable is $14,000.
e. Payment of dividends is $6.000.
f. From the balance sheet:
September 30
2018 2017
Cash $35,000 $17,000
Accounts Receivable 40,000 54,000
Merchandise Inventory 98,000 94,000
Land 74,000 95,000
Plant Assets 185.000 50,000
Accumulated Depreciation (51.000) (22,000)
Accounts Payable 35,000 21,000
Accrued Liabilities 16,000 21,000
Notes Payable (long-term) 15.000 14,000
Common Stock, no par 41.000 13,000
Retained Earnings 255,000 219.000
Net Income

How much did The Home Depot owe for salaries and related expenses at January 29, 2017? Was this an increase or decrease from the previous year? multiple choice 1 $7,000 million (Decrease) $1,484 million (Decrease) $7,000 million (Increase) $1,484 million (Increase) Refer to the Revenues note in the Summary of Significant Accounting Policies that follows The Home Depot’s statements of cash flows. How does the company account for customer payments received in advance of providing services? multiple choice 2 Record the prepayment as revenue. The revenue is deferred until the goods or services are provided to the customer. The funds are not deposited in the bank account and no entry is recorded. The funds are deposited in the bank account and no entry is recorded. What adjusting journal entry must The Home Depot make when it provides services paid by gift card? multiple choice 3 debit Deferred Revenue, credit Net Sales Revenue debit Net Sales Revenue, credit Deferred Revenue debit Deferred Revenue, credit Cash debit Cash, credit Deferred Revenue

The following items are reported on a company's balance sheet: Cash $210,000 Marketable securities 120,000 Accounts receivable (net) 110,000 Inventory 160,000 Accounts payable 200,000 Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place. a. Current ratio fill in the blank 1 b. Quick ratio fill in the blank 2

Which of the following social media options is best for a company wishing to present more of a "story" of the business, one that is less factual but more emotional?

Microblogging
Photo sharing
Text or email
Video sharing

Assume that investors can borrow and lend at risk-free rate of 5%. The optimal tangent portfolio on the efficient frontier has an expected return of 15%, and STD of 20%. John would like to construct his complete investment portfolio by allocating funds between the risk-free asset and the optimal tangent portfolio. Which of the following complete portfolios can John NOT achieve?
A. Portfolio A with E(R)=17.5% and STD=25%
B. Portfolio B with E(R)=13% and STD=18% c. Portfolio
C with E(R)=10% and STD=10% d. Portfolio
D with E(R)=5.5% and STD=1%
E. None of the above.

A company has two departments, A and B, that incur delivery expense. An analysis of the total delivery expense of $9,000 indicates that Dept. A had a direct expense of $1,000 for deliveries. None of the $9,000 is a direct expense to Dept. B. The analysis also indicates that 60% of regular delivery requests originate in Dept. A and 40% in Dept. B. The delivery expenses that should be charged to Dept. A and Dept. B, respectively, are:

Select the correct answer from each drop-down menu.
What is a business?

A business is a commercial ____ engaging in industrial or professional activities undertaken by an individual or a group to earn ____.

Martin Company expects to have a cash balance of $135,000 on January 1, 2017. Relevant
monthly budget data for the first 2 months of 2017 are as follows:
• Collections from customers: January $246,500, February $435,000.
• Payments for direct materials: January $155,000, February $240,000
• Direct labor: January $90,000, February $135,000. Wages are paid in the month they
are incurred.
• Manufacturing overhead: January $63,000, February $75,000. These costs include
depreciation of $5,000 per month. All other overhead costs are paid as incurred.
• Selling and administrative expenses: January $45,000, February $60,000. These costs
are exclusive of depreciation. They are paid as incurred.
• Sales of marketable securities in January are expected to realize $36,000 in cash.
Martin Company has a line of credit at the local bank that enables it to borrow up to
$75,000. The company wants to maintain a minimum monthly cash balance of $60,000.
Instructions
(a) Prepare a cash budget for January and February.
(b) Martin Company’s chief financial officer feels that it is important to have data for the
entire quarter especially since their financial forecasts indicate some difficult economic
periods in the coming year. March information has been budgeted as follows:
• Collections from customers: $375,000
• Payments for direct materials: $206,000
• Direct labor: Wages paid in March $116,000
• Manufacturing overhead: $64,500. This includes the monthly depreciation of
$5,000.
• Selling and administrative expenses: $51,600. This cost is exclusive of
depreciation.
• Marketable securities of $50,000 can be sold if needed for additional cash.
(1) Prepare a cash budget for March assuming that the company does not sell the
marketable securities.
(2) What is the maximum amount the company can borrow during March? Does this
provide the company with an adequate ending cash balance?
(3) How much does the company need to borrow if the marketable securities are sold?
(4) Comment on the status of the company’s cash budget for March.

Thanks in advance ! I really need this

Niles needs 19,000 to purchase a new car. Niles borrows from his pension plan to pay off the loan because the pension plan loan interest rate is 6% nominal annual rate of interest compounded monthly. The loan payments are to be made at the end of each month. To pay off this loan he will make n payments of 472.82 and an additional smaller payment at the same time as the last 472.82 payment. What is the additional smaller payment (rounded to dollars)

A simple interest calculation provides a useful estimate of what compound interest will be if________. a. the dollar amount is small, b. the dollar amount is large, c. the term is long, d. the term is short
Answer c. the term is long is the wrong answer

Assume that a company uses a standard cost system and applies overhead to production based on direct labor-hours. It provided the following excerpt from the standard cost card of its only product: Standard Hours Standard Rate Standard Cost Fixed manufacturing overhead 2 hours $ 6.00 per hour $ 12.00 During the most recent period, the following additional information was available: The fixed overhead budget variance was $10,000 F. The budgeted amount of fixed overhead cost was $285,000. 46,000 direct labor-hours were actually used to produce 24,100 units. What was the actual amount of fixed overhead cost incurred during the period

Your restaurant has an annual advertising budget of $6000 and you spent $82.50 per month on social media advertising what percent of your budget is spent on social media advertising.