"Morales Corporation produces microwave ovens. The following per unit cost information is available: direct materials $34, direct labor $27, variable manufacturing overhead $15, fixed manufacturing overhead $43, variable selling and administrative expenses $20, and fixed selling and administrative expenses $28. Its desired ROI per unit is $31. Compute the markup percentage using absorption-cost pricing. (Round answer to 2 decimal places, e.g. 10.50%.)"

Answer:

Your correct answer for this is False.

Explanation:

There is no way that it could possibly be True.

Answer:

D. Operating activities.

Explanation:

A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.

Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.

Hence, activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including expenditures related to administering the business, are classified as operating activities. All the net income or cash from all operational business activities of a company is recorded as operating activities.

Answer:

Number of payments required is 82

Explanation:

Enter the following data in  the Financial Calculator and find n, the number of payments required.

Pv = $0

Pmt = $190

P/yr = 12

r = 7%

Fv = $20,000

n = ?

Thus n = 82.3084

Conclusion :

Number of payments required is 82

Answer:

Instructions are below.

Explanation:

Giving the following information:

Estimated factory overhead:

fabrication, $448,000

assembly, $180,000

setup, $222,600

inspection, $189,000

Fabrication Assembly Setup Inspection

Speedboat 7,000 dlh 22,500 dlh 50 setups 88 inspections

Bass boat 21,000 7,500 370 612

28,000 dlh 30,000 dlh 420 setups 700 inspections

Each product is budgeted for 5,000 units of production for the year.

First, we need to calculate the predetermined overhead rate for each activity using the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

fabrication= 448,000/28,000= $16 per direct labor hour

assembly= 180,000/30,000= $6 per direct labor hour

setup= 222,600/420= $530 per setup

inspection= 189,000/700= $270 per inspection

Now, we can allocate overhead to each product line:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Speed boat:

Allocated MOH= 7,000*16 + 22,500*6 + 50*530 + 88*270= $297,260

Bass boat:

Allocated MOH= 21,000*16 + 7,500*6 + 370*530 + 612*270= $742,340

Finally, the unitary overhead cost:

Speed boat= 297,260/5,000= $59.45

Bass boat= 742,340/5,000= $148.47

Answer: Reconciled ending balance of cash=$7,925

Explanation:

Bank reconciliation is used by companies to reconcile thier ledger balances and that of their bank's balance and to make necessary adjustments where necessary.

  BanK Reconcillation on August 31,     2021

Bank cash balance                    $6,012

add

Deposit outstanding                 +$3,308

deduct :

Checks outstanding                  -$1,395

Bank  balance reconciliation     $7,925

Company's book balance             $7,914.

add:

interest earned                             +  $43

deduct:

service fees                                    -  $32

Company balance reconciliation   $7,925

Answer:

No journal entry is required

Explanation:

As if we assume that the disposal of equipment is done in the year 2022 but the original error was discovered in the year 2023 after issuing the 2022 financial statements

Based on the above information, the correct entry for the year 2023 is that no journal entry is required for this transaction and the same is to be considered

Answer:

A. Expectation interest.

Explanation:

Expectation interest is explained as the party of interest being in a good position in the point or financial angles during a business dealing. Here he/she is said to have a good stance of a deal or a contract been contacted for. Sometimes, it is seen to be triggered by net profits and losses less any costs or losses, which are sometimes tool in weighing the reasonable measure of damages. Therefore, when no contracts are be agreed on, determination must be made as to whether or not one party benefited from contact with the other party.

Answer:

The total equivalent units for conversion cost = 45,600 ounces

Explanation:

Let us arrange the information in a tabular form to help in solution:

                                                                        % conversion    equivalent units

Particulars                              whole units       completed      for conversion

Beginning inventory in process      4,000                  40%                    1,600

started and completed in period  42,000**               100%                42,000

completed . . . . . . . . . . . . . . . . . .    46,000                                           43,600

ending inventory in process . . . .    8,000                   25%                   2,000

Total units to be assigned cost    54,000                                           45,600                      

Therefore, the total equivalent units for conversion cost = 45,600 ounces

**Note the inventory that was started and completed within the period is the inventory that was 100% completed within the period and it is the difference between the total inventory completed within the period and the beginning inventory, and this is represented as:

46,000 - 4,000 = 42,000 ounces.

Answer:

i. Norminal GDP growth

National GDP growth = Nominal GDP (current year) - Nominal GDP (base year) / Nominal GDP (base year) * 100

=(12,000,000 - 9,000,000) / 9,000,000 * 1000

= 3,000,000 / 9,000,000 * 100

=33.33%

Hence, the nominal GDP growth is 33.33%

ii. Economic growth

Economic growth = {GDP (current year) / GDP (base year) - 1 } * 100

= {12,000,000 / 9,000,000 - 1} * 100

=(1.33 - 1) * 100

= 0.33 * 100

= 33%

Hence, the economic growth is 33.33%

iii. Inflation

The inflation is the situation of increase in the general price level of the goods and services produced by the economy. Here, the price level rose by 3%, so the inflation become 3%

iv. Real GDP growth

Real GDP growth = Nominal GDP growth - Inflation

= 33.33% - 3%

= 30.33%

Hence, the real GDP growth is 30.33%

v. Per Capita GDP growth

Per Capita GDP growth = Nominal GDP growth - Population growth

= 33.33% - 4.50%

= 28.83%

Hence, the Per Capita GDP growth is 28.83%

vi Real Per Capita GDP

Real Per Capita GDP = Real GDP growth - Population growth

= 30.33% - 4.50%

= 25.83%

Hence, the Real Per Capita GDP growth is 25.83%

Answer:

vertical decision-making system

Explanation:

Based on this scenario it seems that Beth's company is using a vertical decision-making system. This is a hierarchical organization system in which management passes information from the top of the hierarchy/pyramid down to the bottom. This system is made up of many layers, while each layer has upper management that supervises the employees at that level. Such as in this case where the employees are reporting to the managers within their departments.

Answer:

$21,960

Explanation:

the value of the portfolio before the ex-dividend date = $94 x 240 stocks = $22,560

Generally when investors are expecting a dividend, they will pay a higher price for a stock just before the ex-dividend date. After the stockholders' eligible for the dividend are recorded (ex-dividend date), the seller of the stock will receive the dividend, so the stock's sales price will decrease by the dividend amount.

New price per stock at ex-dividend date = $94 - $2.50 = $91.50

the value of the portfolio at the ex-dividend date = $91.50 x 240 stocks = $21,960

Answer:

240*94=22560

Explanation:

Just regularly calculate the portfolio, don't try to do any fancy thing.

Answer:

sorry

Explanation:

i need to answer questions but my best guest would be b

Answer:

Correct Answer:

C. Contracts for one party to pay the debt of another party if the initial party fails to pay

Explanation:

In a business setting which exist between two parties, when there is a renegation of agreement between the parties involved by one person, then there is consequences. In a situation where the renegation of agreement was deliberate, then, fraud is said to have occurred.

Option C does not fall within the statue of fraud.

The type of contract that does not fall within the statute of fraud is when the one part agrees to pay the debt of another party.

The following are the situations where the fraud could have existed:

Therefore we can conclude that the type of contract that does not fall within the statute of fraud is when the one part agrees to pay the debt of another party.

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Answer:

A. $162,500

B. $17,500

Explanation:

Data

EBIT = $25,000

Tax rate = T = 35%

Discount Rate = r = 10%

Requirement A:  Market Value

The Market value of the firm can be calculated by using the following formula

Market Value =  [tex]\frac{EBIT(1-T)}{r}[/tex]

Market Value = [tex]\frac{25000(1-0.35)}{0.1}[/tex]

Market Value = $162,500

Requirement B: Total value of firm If issues $50,000 of debt paying 6% interest

The market value of the firm increases by the present value of the Interest tax shield

The present value of tax shield = Amount of debt x Tax Rate

The present value of tax shield = $50,000 x 35%

The present value of tax shield = $17,500

The market value of the firm will be increased by $17,500

Answer:

The correct answer is the option C: May increase or decrease between periods, depending on the fluctuation of the cost of the direct materials.

Explanation:

To begin with, in the field of business a manager or an account would perfectly know that when using the cost of production report with the purpose to analyze the change in direct materials costs per equivalent unit compared to conversion cost per unit the investigation will reveal that the direct material costs may increase or decrease between periods, depending on the fluctuation of the cost of those materials due to the fact that the fluctuation mentioned will arise if the company starts using more direct material in the production so that means that the volumen will increase as well as the costs of it

Answer:

Explanation:

First one is false because diversification reduces risk because it divides the risk amongst different securities. The portfolio risk will therefore be lower than the average of all stocks' standard deviations.

Second one is true because unsystematic risk is risk that will come with the type of stock or security purchased. It is usually referred to as diversifiable risk because using negatively correlated stocks can help diversify this risk.

Third one is True because the portfolio's risk when diversified is indeed likely to be smaller than the average of all stocks' standard deviation.

Fourth one is false because portfolio risk is reduced if stock that are negatively correlated are put into a portfolio because it means that when one stock is not doing so well, the other being negatively correlated, will be doing fine.

Answer: a. 15

Explanation:

Given;

Labour hours available to each nations.

England = 40 labour hours.

Spain = 40 labour hours.

Solution:

Total production of bread in 40 labour hours for each nation from the table is 15.

England = 10

Spain = 5

Since both nations decided to focus on their strength where they pose comparative advantage, the production of cheese would increase by 15. As this is the amount of bread produced in that time frame of 40 labour hours.

Answer:

a.

Estimated income statement, comparing operating results if 20,000 and 22,400 units are manufactured

                                                                             20,000          22,400

Sales (20,000 x $71)                                       $1,420,000      $1,420,000

Less Cost of Goods Sold                               ($1,260,000)   ($1,248,000)

Opening Stock                                                        $ 0                 $0

Add Cost of Goods Manufactured                 $1,260,000      $1,397,760

Less Closing Stock                                                 $0              ($149,760)

Gross Profit                                                        $160,000         $172,000

Less Expenses

Selling and administrative expenses

Fixed                                                                  ($30,500 )       ($30,500 )

Variable                                                              ($36,800)       ($36,800)

Net Income / (Loss)                                             $92,700        $104,700

a. Reasons

Variable Production Costs have increased for the Manufacture of 22,400 units.

Fixed assets have been deferred in Inventory for the Manufacture of 22,400 units.

Explanation:

Cost of Goods Manufactured

Manufacturing costs (20,000 units):

Direct materials                  852,000

Direct labor                         202,000

Variable factory overhead   94,000

Fixed factory overhead       112,000

Total                                 1,260,000

Cost of Goods Manufactured

Manufacturing costs (22,400 units):

Direct materials (852,000  / 20,000 × 22,400)                    =  $954,240

Direct labor (202,000   / 20,000 × 22,400)                          = $226,240

Variable factory overhead (94,000   / 20,000 × 22,400)    =  $105,280

Fixed factory overhead                                                         =   $112,000

Total                                                                                       = $1,397,760

Closing Inventory = $1,397,760 / 22,400 × 2,400

                               = $149,760

The estimated net income in the manufacturing of 22,400 units is more than the income of 20,000 units by applying the method of absorption costing.

Absorption costs, sometimes referred to as “total costs,” are a management method of taking into account all the costs associated with producing a particular product.

Direct and indirect costs, such as direct assets, direct employment, rent, and insurance, are calculated using this method.

a) The calculation of the estimated income statement for 22,400 units and 20,000 units is shown in the image below.

b) The reason for the difference in the income from operations for the two production levels is because of the presence of closing inventories, which reduces the cost of goods sold and increases the income from operations.

Working note:

[tex]\rm\,Cost \; of \;Goods \;Manufactured \;=\\Manufacturing \; Costs (20,000 units)= Direct \;Materials \;+ Direct \; Labor + Variable \;factory \;overhead + Fixed \;factory \;overhead\\\\Manufacturing costs (20,000 units)=852,000+202,000+94,000+112,000\\\\Manufacturing costs (20,000 units) = \$1,260,000[/tex]

Cost of manufacturing when 22,400 units are produced:

Manufacturing costs (22,400 units):

[tex]\rm\,Manufacturing \; Costs (22,400 units):\\Direct \; Materials (\dfrac{852,000}{20,000} \times 22,400) = $954,240\\\rm\,Direct \;labor \;\dfrac{202,000}{20,000}\times 22,400 = $226,240\\Variable factory overhead \dfrac{94,000}{20,000 }\times 22,400 = $105,280\\Fixed factory overhead = $112,000[/tex]

[tex]\rm\,Cost \; of \;Goods \;Manufactured \;= Manufacturing \; Costs (22,400 units)= Direct \;Materials \;+ Direct \; Labor + Variable \;factory \;overhead + Fixed \;factory \;overhead\\\\\rm\,Cost \; of \;Goods \;Manufactured \; = 954,240+26,240+105,280+ 112,000\\\\\rm\,Cost \; of \;Goods \;Manufactured \; = \$1,397,760\\\\Closing \,Inventory = \dfrac{\$1,397,760}{22,400}\times 2,400 \\\\Closing \,Inventory = \$149,760[/tex]

Hence, it can be concluded that the estimated net income in the manufacturing of 22,400 units is more than the income of 20,000 units by applying the method of absorption costing.

Refer to the image to know the calculation of Estimated Net Income.

To learn more about absorption costing, refer to the link:

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Answer: B. Bought the bonds from Dalrymple and sold them to the public

Explanation:

Investment Banks help companies issuing new securities in diverse ways to ensure that they raise the capital they are looking for. Some of the ways they help include; underwriting securities and market research. The main way they help companies issuing new securities however, is underwriting.

With Underwriting, the Investment Bank usually buys all the securities on offer from the Issuing company, then sells them at higher price to make a profit. This helps the issuing company because they get to sell all or most of their securities so it reduces uncertainty.

The Commonwealth Bank of Australia therefore bought the bonds from Dalrymple and sold them to the public.

Answer:

1. Maintaining federal government checking accounts and gold.

2. Maintaining and circulating currency.

3. Being the lender of last resort for banks

Explanation:

The Federal Reserve System (the 'Fed) was created by the Federal Reserve Act, passed by Congress in 1913. The Fed began operations in 1914. It was founded by President Woodrow Wilson under the Federal Reserve Act, which was aimed at backing each banks in order to put a definitive end to the bank panics of the 1800s.

The following are functions of the Federal Reserve;

1. Maintaining federal government checking accounts and gold.

2. Maintaining and circulating currency.

3. Being the lender of last resort for banks.

Additionally, it comprises of twelve (12) Federal Reserve Bank regionally across the United States of America and seven (7) board of governors.

Answer:

Payback Period (in years) 2.28

Explanation:

Calculation for the project payback period if the initial cost is $1,700

Using this formula

Payback Period (in years) = Cash Outflow / Cash Inflows

Where,

Cash Outflow=1,700

Cash Inflows=745

Let plug in the formula

Payback Period (in years) =1,700 / 745

Payback Period (in years) =2.28

Therefore the Payback Period (in years) will e 2.28

Answer:

The answer is:.

1. A

2. B

3. B

4. A

5. B

6. A

7. B

8. B

Explanation:

The significant accounting policy note is a section of the footnotes found in the financial statements. It states and explains the key policies the firm has adopted in preparing its financial statement.

Separate note is also found in the footnotes. It details the additional information about a firm's operations and financial position.

1. A

2. B

3. B

4. A

5. B

6. A

7. B

8. B

Answer:

At the Internal Rate of Return (IRR).

Explanation:

The Internal rate of return is the Interest rate that will make the Present Value of Cash Flows equal to the price or cost of the initial investment. This rate gives a Net Present Value of zero.

If at that rate both Project A and Project B give a Net Present Value of zero, you will be indifferent (the choice is the same irregardless of the alternative chosen).

Project that provide for a return greater than the Internal Rate of Return must be chosen.

Answer:

Marigold Company

a) Calculation of the predetermined overhead rate for 2020, assuming (Lott) Marigold Company estimates total manufacturing overhead costs of $840,000, direct labor costs of $700,000, and direct labor hours of 20,000 for the year.

Predetermined overhead rate, based on the direct labor costs:

= Total manufacturing overhead costs/direct labor costs

= $840,000/$700,000 = $1.20 per direct labor cost

Predetermined overhead rate, based on the direct labor hours:

= Total manufacturing overhead costs/direct labor hours

= $840,000/20,000 = $4.20 per direct labor hour

b) Job Cost Sheets

                                             Job 50        Job 51         Job 52

Beginning inventory          $49,440

Direct materials                    10,300       $40,170        $30,900

Direct labor                            5,150         25,750          20,600

Manufacturing overhead      6,180         30,900          24,720

Finished goods inventory $71,070      $96,820                      $76,220

c) Journal Entries:

i) Purchase of raw materials:

Debit Inventory $92,700

Credit Accounts Payable $92,700

To record the purchase of raw materials.

ii) Factory labor costs incurred:

Debit Factory labor costs $72,100

Credit Employer Payroll Taxes Expense $16,480

Credit Factory Salary and Wages $55,620

To record factory labor costs.

iii) Manufacturing overhead costs incurred:

Debit Manufacturing overhead $66,950

Credit Inventory for indirect materials $17,510

Credit Salaries & Wages $20,600

Credit Equipment Depreciation $12,360

Credit Accounts Payable $16,480

To record manufacturing overhead

d) Journal Entries:

Debit Job 50 $21,630

Credit Direct materials $10,300

Credit Direct labor $5,150

Credit Manufacturing overhead $6,180

To allocate manufacturing costs to job 50.

Debit Job 51 $96,820

Credit Direct materials $40,170

Credit Direct labor $25,750

Credit Manufacturing overhead $30,900

To allocate manufacturing costs to job 51.

Debit Job 52 $76,220

Credit Direct materials $30,900

Credit Direct labor $20,600

Credit Manufacturing overhead $24,720

To allocate manufacturing costs to job 52.

e) Journal Entries:

Debit Finished Goods Inventory $167,890

Credit Job 50 $71,070

Credit Job 51 $96,820

To record finished goods from Jobs 50 and 51

f) Journal Entries for Sale of Jobs:

Debit Accounts Receivable $288,400

Credit Sales Revenue $288,400

To record the sale of Jobs 49 and 50 on account.

Debit Cost of goods sold $163,770

Credit Finished goods inventory $163,770

To record the cost of Jobs 49 and 50 sold.

g) Balance in Finished Goods Inventory account:

Beginning balance: Job 49 $92,700

Debit Job 50                         $71,070

Debit Job 51                        $96,820

less: cost of jobs sold        $163,770

Ending balance: Job 51      $96,820

The balance consists of Job 51 which had been completed but not sold.

h) Amount of over-or underapplied overhead:

Actual total overhead        $66,950

Total overhead applied        61,800  

Underapplied overhead     $5,150                  

Explanation:

a) Data:

1. Job 50 in process:

Beginning Job 50 in process:

Direct materials               $20,600

Direct labor                       $12,360

Manufacturing overhead $16,480

Total                                 $49,440

2. Jan. 1 Job 49 completed at $92,700 (part of finished goods inventory)

3. Beginning raw materials inventory = $15,450

4. Production, Completion, and Sales of Jobs:

Production started on Jobs 51 and 52

Completed Jobs 50 and 51

Sold on account:

Job 49  $125,660

Job 50  $162,740

5. Additional events:

Purchase of raw materials on account = $92,700

Factory labor costs of $72,100 ($16,480 of it, employer payroll taxes)

Manufacturing overhead costs:

Indirect materials                            $17,510

Indirect labor                                $20,600

Equipment Depreciation              $12,360

Other manufacturing overheads $16,480 (on account)

Total manufacturing overhead   $66,950

6. Allocation of direct materials and labor to jobs:

Job No.     Direct Materials    Direct Labor

50                  $10,300             $5,150

51                     40,170             25,750

52                  30,900             20,600

                    $81,370            $51,500

6. Job costing system accumulates and allocates Marigold Company's direct material, labor, manufacturing overhead costs to jobs based on their usage of the various resources in the production of goods and services.

Answer:

Yield to maturity (YTM) is 1.91% higher than yield to call (YTC).

Explanation:

YTM = {coupon + [(face value - market value)/n]} / [(face value + market value)/2]

YTM = {$120 + [($1,000 - $1,275)/20]} / [($1,000 + $1,275)/2] = $106.25 / $1,137.50 = 9.34%

YTC = {coupon + [(call price - market value)/n]} / [(call price + market value)/2]

YTC = {$120 + [($1,120 - $1,275)/5]} / [($1,120 + $1,275)/2] = $89 / $1,197.50 = 7.43%

9.34% - 7.43% = 1.91%

Answer:

EOQ = 204.124 rounded off to 204 units

Explanation:

The EOQ or economic order quantity is the optimal order quantity that a company should order every time in order to minimize the inventory related costs such as holding, ordering and shortage/stock out costs. The formula o calculate EOQ is attached.

Holding cost per unit per annum = 30 * 12 = $360

EOQ = √(2 * 25000 * 300) / 360

EOQ = 204.124 rounded off to 204 units

Answer:

d. one or more people depending upon the requirements of the proposal.

Explanation:

A proposal can be defined as a plan or suggestion which are formally written to present an idea to an individual or organization for consideration.

Proposal preparation is completed by one or more people depending upon the requirements of the proposal.

In order to prepare a good proposal, it is very important to make it as formal as possible. The content of the proposal is strictly based on what the initiators wants to do or achieve, as well as how they wish to achieve.

Hence, a proposal is only prepared with regard to the requirements of the proposal and the number of people involved. Proposals are usually used by project managers or contractors seeking for a contract.

Answer:

True

Explanation:

The Cash generated from the operating activities is actually the net cash that arises from operating activities which is the core operation of the organization.

When we use the Indirect method, we add back all the non cash deductions from Net Income and we also minus the non cash additions in the revenue.

The example of non cash deduction which is added back includes depreciation and amortization expense. On the other hand the example of non cash additions includes accrued revenue which would be deducted by increase in revenue.

Hence the statement is true.

Answer:

True

Explanation:

Answer:

$15,000 overstated

Explanation:

       Item                                             Amount

Inventories over stated in 2024      $75,000

Less: Under stated in 2023              ($60,000)

Inventories over stated in 2025     $15,000

Overstated inventory means, cost of goods will be understated in income statement. so net income will show as overstated. it means retained earnings also overstated by $15,000

Answer:

-9.09

Explanation:

Calculation for the price elasticity of demand

Using the midpoint method.

First step is to find the Demand

Demand = (120 - 0)/((120 + 0)/2) = 2

Demand =120/60

Demand =2

Second step is to find the Price

Price = (4 - 5)/((4 + 5)/2)

Price=- 1/4.5

= -0.22

Now let calculate for the price elasticity of demand

Using this formula

Price elasticity of demand =Demand/Price

Let plug in the formula

Price elasticity of demand=2/-0.22

Price elasticity of demand = -9.09

Therefore Using the midpoint method, the price elasticity of demand will be -9.09