a) If on January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2021 will be:
Investment Account:
Consideration paid (fair value) $810,000
Net Income for 2020 $80,000
Database distribution ($60,000/5) ($12,000)
Netspeed's adjusted income $68,000
($80,000-$12,000)
Quickport ownership percentage 90%
(100%-10%)
Quickport share of net income $61,200
(90%×$68,000)
Gain on equipment transfer $3,000
[$42,000-($48,000-$9,000)
Depreciation adjustment (6 Months) $500
[($3,000/3year)/2]
Equity in earnings of Netspeed $58,700
($61,200-$3,000+$500)
Quickport share of Netspeed's dividends ($7,200)
(90% ×$8,000)
Balance 12/31/2020 $861,500
($810,000+$58,700-$7,200)
Netspeed's reported net income for 2021 $115,000
Database amortization ($12,000)
($60,000/5)
Netspeed's adjusted 2021 net income $103,000
Quickport's ownership percentage 90%
(100%-10%)
Quickpoet's share of Net speed net income $92,700
(90%×$103,000)
Depreciation adjustment $500
[($3,000/3year)/2]
Equity in earnings of Netspeed company 2021 $93,200
($92,700+$500)
Quickport's share of Netspeed's dividend ($7,200)
(90% ×$8,000)
Balance 12/31/2021 $947,500
($861,500+$93,200-$7,200)
b. Preparation of the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and NetSpeed.
1. Dr Equipment $6,000
($48,000 - $42,000)
Cr Investment in Netspeed $2,500
($3,000-$500)
Accumulated depreciation $8,500
($6,000+$2,500)
2. Dr Common stock-Netspeed $800,000
Dr Retained eanings-Netspeed $114,000
[$42,000+($80,000-$8,000)]
Cr Investment in Netspeed $822,600
[($800,000+$114,000)×90%]
Cr Noncontrolling interest $91,400
[($800,000+$114,000)×10%]
3. Dr Database $36,000
($48,000-$12,000)
Cr Investment in Netspeed $32,400
($36,000×90%)
Cr Noncontrolling interest $3,600
($36,000×10%)
4. Dr Equity in earnings of Netspeed $93,200
Cr Investment in Netspeed $93,200
5. Dr Investment in Netspeed $7,200
Dividends declared $7,200
(90%×$8,000)
6. Dr Amortization expense $12,000
Cr Database $12,000
($60,000/5)
7. Dr Accumulated depreciation $1,000
Cr Depreciation expense $1,000
($3,000/3 years)
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Henderson Electronics Corporation manufactures and sells FM radios. Information on the prior year's operations (sales and production Model A1) is presented below: Sales price per unit $30 Costs per unit: Direct material 7 Direct labor 4 Overhead (50% variable) 6 Selling costs (40% variable) 10 Production in units 10,000 Sales in units 9,500 Refer to Henderson Electronics Corporation. Assume that the remaining Model A1 radios can be sold through normal channels or to a foreign buyer for $6 per unit. If sold through regular channels, the minimum acceptable price will be
Answer:
the minimum acceptable price is $4
Explanation:
The computation of the minimum acceptable price is shown below:
Here the minimum acceptable price would be considered as a variable selling cost i.e. calculated below:
= Selling cost × variable percentage
= $10 × 40%
= $4
hence, the minimum acceptable price is $4
The same would be considered and relevant too
Presented below are certain account balances of Swifty Products Co. Rent revenue $6,980 Sales discounts $8,170 Interest expense 13,320 Selling expenses 99,730 Beginning retained earnings 114,520 Sales revenue 405,100 Ending retained earnings 134,450 Income tax expense 27,776 Dividend revenue 71,430 Cost of goods sold 166,455 Sales returns and allowances 12,730 Administrative expenses 88,620 Allocation to noncontrolling interest 17,320 From the foregoing, compute the following: (a) total net revenue, (b) net income, (c) income attributable to controlling stockholders, if Swifty has allocation to noncontrolling interest of $17,320. (a) Total net revenue $enter total net revenue in dollars (b) Net income $enter net income in dollars (c) Income attributable to controlling stockholders $enter income attributable to controlling stockholders in dollars
Answer and Explanation:
The computation is shown below:
a
Sales revenue $405,100
Add: Rent revenue $6,980
Add: Dividend revenue $71,430
Less: Sales returns and allowances $(12730)
Less: Sales discounts $(8170)
a
Sales revenue 405100
Add: Rent revenue 6980
Add: Dividend revenue 71430
Less: Sales returns and allowances (12730)
Less: Sales discounts (8170)
Total net revenue $462,610
b
Total net revenue $462,610
Less: Expenses
Interest expense $13,320
Selling expenses $99,730
Income tax expense $27,776
Cost of goods sold $166,455
Administrative expenses $88,620
Total Expenses $395,901
Net income $66,709
c
Net income $66,709
Less: Allocation to noncontrolling interest $17,320
Income attributable to controlling stockholders $49,389
7. Gold Company has budgeted the following costs for the production of its only product: Direct Materials $75,000 Direct Labor 50,000 Variable indirect production costs 25,000 Fixed indirect production costs 27,500 Variable selling and administrative costs 7,500 Fixed selling and administrative costs 15,000 Total Costs $200,000 Gold Company wants a profit of $100,000, and expects to produce 2,500 units. The market price is $125 per unit. What is the target cost per unit of the product
Answer:
$68 = unitary variable cost
Explanation:
Giving the following formula:
Gold Company wants a profit of $100,000
Production= 2,500 units
Selling price= $125
Fixed indirect production costs 27,500
Fixed selling and administrative costs 15,000
To calculate the target total unitary variable cost, we need to use the following formula:
number of units sold= (desired profit + fixed costs) / (selling price - unitary variable cost)
2,500= (100,000 + 27,500 + 15,000) / (125 - unitary variable cost)
312,500 - 2,500unitary variable cost = 142,500
170,000 = 2,500unitary variable cost
$68=unitary variable cost
Marigold Company uses a periodic inventory system. For April, when the company sold 550 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 250 $14 $ 3,500 April 15 purchase 420 17 7,140 April 23 purchase 330 18 5,940 1,000 $16,580 Calculate weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost per unit $enter weighted average cost per unit in dollars rounded to 2 decimal places LINK TO TEXT Compute the April 30 inventory and the April cost of goods sold using the average-cost method. (Round answers to 0 decimal places, e.g. 2,760.) Ending inventory $enter the ending inventory in dollars rounded to 0 decimal places Cost of goods sold
Answer:
Marigold Company
Cost of goods sold = $9,119
Ending inventory = $7,461
Explanation:
a) Data and Calculations:
Units Unit Cost Total Cost
April 1 inventory 250 $14 $ 3,500
April 15 purchase 420 17 7,140
April 23 purchase 330 18 5,940
Total 1,000 $16,580
Weighted-average costs $16.58
Sales 550
Cost of goods sold = 550 * $16.58 = $9,119
Ending inventory = 450 * $16.58 = $7,461
b) The first computation is for the total cost of goods available, which is then divided by the total units available for sale. This gives the weighted-average cost per unit. This unit cost is then multiplied with the units of ending inventory and sales to obtain the cost of the ending inventory and the cost of goods sold, respectively.
What would be the effects if a business didn't follow the matching principle?
Select the communication type that is being used in the following example.
Two coworkers near the copy machine are discussing the upcoming company meeting.
o external formal communication
o external informal communication
O internal formal communication
O internal informal communication
Thing
Answer:
When the federal government spends more money than it receives in taxes in a ... spending over time in nominal dollars is misleading because it does not take ... defense spending as a share of GDP has generally declined since the 1960s, ... Healthcare expenditures include both payments for senior citizens (Medicare), ...
Explanation:
45.18
What gives the US government the power to collect taxes?
o the Constitution
O laws passed by Congress
O an executive order
common law
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What gives the US government the right to collect taxes?
Gundy Company expects to produce 1,304,400 units of Product XX in 2020. Monthly production is expected to range from 87,000 to 127,000 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $7, and overhead $9. Budgeted fixed manufacturing costs per unit for depreciation are $4 and for supervision are $1.
In March 2020, the company incurs the following costs in producing 107,000 units: direct materials $455,000, direct labor $746,000, and variable overhead $971,000. Actual fixed costs were equal to budgeted fixed costs.
Prepare a flexible budget report for March. (List variable costs before fixed costs.)
Answer:
Gundy Company
Manufacturing Flexible Budget Report
For the Month Ended March 31, 2020
Budget Actual
Units produced 107,000 107,000
Variable Costs:
Direct Materials $428,000 $455,000 $27,000 U
($4 * 107,000)
Direct labor $749,000 $746,000 $3,000 F
($7 * 107,000)
Overhead $963,000 $971,000 $8,000 U
($9 ×* 107,000)
Total variable costs $2,140,000 $2,172,000 $32,000 U
Fixed Costs:
Depreciation $434,800 $434,800 $0
Supervision $108,700 $108,700 $0
Total fixed costs $543,500 $543,500 $0
Total costs $2,683,500 $2,715,500 $32,000 U
Workings:
Depreciation = (1,304,400 * $4) / 12 = $5,217,600 / 12 = $434,800
Supervision = (1,304,400 * $1) / 12 = $1,304,400 / 12 = $108,700
19. Big Company is preparing a cash budget for the month of April. The following information is available: Cash Balance, March 31, 2020 $11,000 Cash collections from customers in April 43,000 Cash paid for land in April 10,000 Patent amortization expense in April 5,000 Cash paid for merchandise in April 20,000 Cash paid for operating expenses in April 20,000 Cash dividend paid in April 5,000 The minimum cash balance desired is $10,000. What is the deficiency of cash before financing at April 30, 2020
Answer:
Cash Deficiency = - $11000
Explanation:
To calculate the deficiency of cash at the end of April, we must first calculate the Cash receipts for the month of April and add them to the available cash balance at start of the month and then deduct the cash payments for the month. In this way we can calculate the ending balance for April. Later we can calculate the cash deficiency at the end of April by comparing the actual cash balance at the end of April with the desired cash balance,
Ending Balance = Opening Cash Balance + Cash Receipts - Cash Payments
Ending Balance - April= 11000 + 43000 - [10000 + 20000 + 20000 + 5000]
Ending Balance = - $1000
The Cash Deficiency before finance is,
Cash Deficiency = Actual Balance - Desired Balance
Cash Deficiency = -1000 - 10000
Cash Deficiency = - $11000
It is important to remember that when calculating the ending cash balance, we will not consider Patent amortization expense as it is a non cash expense.
Fischer Company uses 12,000 units of a part in its production process. The costs to make a part are: direct material, $15; direct labor, $27; variable overhead, $15; and applied fixed overhead, $32. Heath has received a quote of $60 from a potential supplier for this part. If Fischer buys the part, 75 percent of the applied fixed overhead would continue. Fischer Company would be better off by
Answer: $60,000
Explanation:
Total cost of producing the good internally:
= No. of units * (Direct material + Direct labor + Variable overhead + Applied fixed overhead)
= 12,000 * (15 + 27 + 15 + 32)
= $1,068,000
If the good is acquired externally for $60, they would still incur 75% of the applied fixed overhead:
= 12,000 * [ 60 + (75% * 32)]
= $1,008,000
If Fischer received from the supplier, they would save:
= 1,068,000 - 1,008,000
= $60,000
Fischer Company would be better off by $60,000 to buy the part.
Georgia Movie Company has a capital structure with 50.00% debt and 50.00% equity. The cost of debt for the firm is 9.00%, while the cost of equity is 15.00%. The tax rate facing the firm is 36.00%. The firm is considering opening a new theater chain in a local college town. The project is expected to cost $12.00 million to initiate in year 0. Georgia Movie expects cash flows in the first year to be $3.10 million, and it also expects cash flows from the movie operation to increase by 4.00% each year going forward. The company wants to examine the project over a 13.00-year period. What is the WACC for this project
Answer:
10.38%
Explanation:
The computation of the WACC is given below:
WACC = Weight of debt × After tax Cost of debt + Weight of Equity × Cost of Equity
Here After tax cost of debt is
= Cost of debt × (1 - tax rate)
= 9% × (1 - 36%)
= 5.76%
Now
WACC = 50% × 5.76% + 50% × 15%
= 10.38%
Take a deck of playing cards and remove the aces, jacks, queens, kings, and jokers. Imagine that any remaining card in the deck is a single individual, either a seller or a consumer, and all are gathered at a single perfectly competitive market. Red cards are sellers, and black cards are consumers. The number on a card indicates the individual's WTP or MC. Each seller owns a single unit of an indivisible good. Each consumer can buy at most one unit of the good from a seller. Then the market outcome will be
Answer:
the equilibrium price is 6 and units sold is 10
Explanation:
In the case when we eliminate all the jacks, queens, aces and kings we have a total of 36 card that left with the numbers from 2 to 10
also there are 18 red card of sellers and 18 black card of buyers
Now the following table should be prepared
Price Quantity demanded Quantity supplied
2 18 2
3 16 4
4 14 6
5 12 8
6 10 10
7 8 12
8 6 14
9 4 16
10 2 19
As we can see that at the price of 6 the quantity demanded would be equivalent to the quantity supplied
So, the equilibrium price is 6 and units sold is 10
Presented below is information related to copyrights owned by Cullumber Company at December 31, 2020. Cost $8,590,000 Carrying amount 4,430,000 Expected future net cash flows 4,190,000 Fair value 3,330,000 Assume that Cullumber Company will continue to use this copyright in the future. As of December 31, 2020, the copyright is
Answer:
A. Dr Loss on Impairment $1,100,000
Cr Copyrights $1,100,000
B. Dr Amortization Expense $333,000
Cr Copyrights $333,000
C. No Entry
Explanation:
A. Preparation of the journal entry to record the impairment of the asset at December 31, 2020
Dr Loss on Impairment 1,100,000
Cr Copyrights 1,100,000
(4,430,000-3,330,000)
(To record impairment of the asset )
Carrying amount 4,430,000
Fair value 3,330,000
Loss on impairment $1,100,000
B. Preparation of the journal entry to record amortization expense for 2021 related to the copyrights.
Dr Amortization Expense $333,000
Cr Copyrights $333,000
(3,330,000÷10 years)
(To record amortization expense)
New carrying amount 3,330,000
Useful life ÷ 10 years
Amortization per year $333,000
C.Preparation of the journal entry necessary to record the increase in fair value
No Entry
Tangen Corporation is considering the purchase of a machine that would cost $380,000 and would last for 6 years. At the end of 6 years, the machine would have a salvage value of $80,000. By reducing labor and other operating costs, the machine would provide annual cost savings of $104,000. The company requires a minimum pretax return of 14% on all investment projects. The net present value of the proposed project is closest to:
Answer: $60,872
Explanation:
First calculate the present value of the cash benefits of this investment:
= Present value of cost savings + present value of salvage value
= (104,000 * Present value interest factor of Annuity,6 years, 14%) + [80,000 / (1 + 14%)⁶]
= (104,000 * 3.8887) + 36,446.92381
= $440,872
Net Present value = Present value of cash benefits - Investment cost
= 440,872 - 380,000
= $60,872
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Answer:
Explanation:na
Which of the following are common characteristics of multinational enterprises (MNEs)? Check all that apply. Operations in a source country and only one host country Research and development in host countries Multinational stocks and management Fostered transfer of technology Company headquarters that are distant from the country where production occurs Low ratio of foreign sales to total sales
Answer:
I. Research and development in host countries.
II. Multinational stocks and management.
III. Fostered transfer of technology.
IV. Company headquarters that are distant from the country where production occurs.
Explanation:
A multinational enterprise (MNE) can be defined as any business firm that engages in the production of goods and services in two or more countries.
Generally, a multinational enterprise (MNE) has subsidiaries in other countries and as such derives a high amount of revenue outside its home country by providing goods and services that meets the need of customers through the use of advanced technology.
For a multinational enterprise (MNE), they have a central corporate facility but their products are not coordinated because their respective foreign markets offer unique products and services.
Some examples of a multinational enterprise (MNE) are Amazon, BNP Paribas, Alcatel-Lucent, Apple, Chevron, Casio, Disney, etc.
Some common characteristics of multinational enterprises (MNEs) include the following;
I. They carry out research and development in host countries.
II. MNEs engage in the sales of multinational stocks and management.
III. They facilitate or foster the transfer of technology between countries.
IV. The company headquarters of MNEs are usually distant from the country where production occurs.
a stock analyst wants to use a dividend pricing model to value stock. the analyst believes will pay its first dividend in exactly 15 years, and she is guessing that the dividend will be $10.00 per share at that time. the analyst assumes that dividends will grow by 5% per year going forward after year 15. the required return to hold is estimated to be 12% per year. based on these assumptions, what is the intrinsic value of stock today
Answer:
P0 = $27.4044 rounded off to $27.40
Explanation:
The constant growth model of dividend discount model (DDM) can be used to calculate the price of the stock today. DDM calculates the price of a stock based on the present value of the expected future dividends from the stock. The formula for price today under constant growth DDM is,
P0 = D0 * (1+g) / (r - g)
Where,
D0 * (1+g) is the dividend expected in Year 1 or next year g is the constant growth rate in dividends r is the discount rate or required rate of return
To calculate the price of the stock today, we firsts need to calculate the price of the stock in year 15 and discount it back to today's value.
As we can see that to calculate the price of the stock today, we use dividend that is expected for the next period or Year 1. Thus to calculate the price of the stock in Year 15, we will use the dividend that will be expected in Year 16.
P15 = D15 * (1+g) / (r - g)
P15 = 10 * (1+0.05) / (0.12 - 0.05)
P15 = $150 per share
To calculate the price of this stock today, we must discount the Year 15 price to today's price.
P0 = P15 / (1+r)^15
P0 = 150 / (1+0.12)^15
P0 = $27.4044 rounded off to $27.40
Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if each is equipped with a shovel, a machete, and a chainsaw. Clearing one acre brings in $1,000 in revenue. Each worker’s equipment costs the worker’s employer $150 per month to rent and each worker toils 40 hours per week for four weeks each month. a. What is the marginal revenue product of hiring one low-skilled worker to clear woodland for one month?
Answer: $1000
Explanation:
Marginal Revenue Product simply refers to the additional revenue that's gotten when one or more unit of input is used. It is the marginal revenue that us gotten as a result of additional resource.
From the question, we are informed that clearing one acre brings in $1,000 in revenue, therefore the marginal revenue product of hiring one low-skilled worker to clear woodland for one month is $1000
A company's unadjusted trial balance shows a debit balance in the allowance for doubtful accounts. This means that a. The company has written off more accounts receivable during the period than were accounted for in the opening balance of the allowance. b. The company must recognize bad debt expense at least as great as the unadjusted debit balance of the allowance. c. The company has written off too many accounts receivable and should reassess its write-off policy. d. Both a and b above are correct.
Answer:
d. Both a and b above are correct.
Explanation:
In the case when the company unadjusted trial balance reflect a debit balance of allowance for doubtful debts so this represent that the company would have more written off account receivable that would be shown in the beginning balance of the allowance. Also the company should record the bad debt expense as more as the debit balance of the non-adjusted allowance
Hence, the last option is correct
when completing the FAFSA, the student is given an EFC number. what does the EFC mean?
Answer:expected family contribution
Explanation:
IRR in Excel!(CHAPTER 9) Your company is considering a new project opportunity. It would immediately receive $200. In return, in the next 4 years it will need to pay the following amounts of money: In 1 year: $80 In 2 years: $70 In 3 years: $60 In 4 years: $50 The required annual rate of return is 19%. Answer the following questions: (a) The Internal Rate of Return for this project is . %. (Round your answer to TWO decimal places. Put your answer in percent, NOT in decimals. For example, if your answer is 12.34 percent, then you need to put 12.34, and NOT 0.12)
Answer:
12.44%
Explanation:
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
IRR can be calculated with a financial calculator
cash floe in yer0 = 200
cash flow in year 1 = -80
cash flow in year 2 = - 70
cash flow in year 2 = - 60
cash flow in year 2 = - 40
irr = 12.44%
To find the IRR using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the IRR button and then press the compute button.
Determine the future value if $5,000 is invested in each of the following situations: 7 percent for seven years
The delivered-equipment cost for a fully equipped CNC machining system is $4.2 million. The direct cost factor is 1.52 and the indirect cost factor is 0.37. Estimate the total plant cost if the indirect cost factor applies to the total direct cost. (Enter your answer in dollars and not in millions of dollars.) The total plant cost is $
Answer: $14.5 million
Explanation:
The following information can be gotten from the question;
Total equipment cost = $4.2 million
Direct cost factor = 1.52
Indirect cos factor = 0.37
The total plant cost will then be calculated as:
= 4.2 × (1 + 1.52) × (1 + 0.37)
= 4.2 × 2.52 × 1.37
= 14.5
Therefore, the total plant cost is $14.5 million
During 2022, Cheyenne Corp. reported cash provided by operations of $699000, cash used in investing of $604000, and cash used in financing of $167000. In addition, cash spent on fixed assets during the period was $243000. Average current liabilities were $572000 and average total liabilities were $1510000. No dividends were paid. Based on this information, what was Cheyenne free cash flow
Answer:
$456,000
Explanation:
Free cash flow = Cash flow from operating activities - Capital expenditure
Free cash flow = $699,000 - $243,000
Free cash flow = $456,000
So, based on this information, Cheyenne free cash flow is $456,000
What is the difference between demand and supply curve?
Suppose the Federal Reserve sets the reserve requirement at 14%, banks hold no excess reserves, and no additional currency is held. Instructions: In part a, round your answer to 1 decimal place. In parts b and c, enter your answers as a whole number. If you are entering a negative number include a minus sign. a. What is the money multiplier
Answer:
7.1%
Explanation:
Money multiplier measures the total increase in money multiplier
Money multiplier =1 / reserve requirement
1 / 14% = 7,1%
Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2018. The manufacturing cost of the computers was $130,000. This noncancelable lease had the following terms: Lease payments: $23,000 semiannually; first payment at January 1, 2018; remaining payments at June 30 and December 31 each year through June 30, 2022. Lease term: five years (10 semiannual payments). No residual value; no purchase option. Economic life of equipment: five years. Implicit interest rate and lessee's incremental borrowing rate: 5% semiannually. What is the outstanding balance of the lease liability in Lone Star's December 31, 2018, balance sheet
Answer:
$89,350
Explanation:
Calculation to determine the outstanding balance of the lease liability in Lone Star's December 31, 2018, balance sheet
First step is to calculate the Balance after first payment
Initial lease liability $130,000
Less: First payment $23,000
Balance after first payment $107,000
Second step is to calculate the Interest expense for June 30,2021
Interest expense for June 30,2021= $107,000*5%
Interest expense for June 30,2021=$5,350
Third step is to calculate the Principal payment for June 30,2021
Principal payment for June 30,2021=$23,000-$5,350
Principal payment for June 30,2021=$17,650
Now let calculate the Outstanding balance on June
Balance after first payment. $107,000
Less: Principal payment for June $17,650
Outstanding balance on June $89,350
Therefore the outstanding balance of the lease liability in Lone Star's December 31, 2018, balance sheet is $89,350
What type of arrangement(s), if any, would avoid double taxation for Wendall's and Shirley's endeavor? Choose the best answer if the choices below.
Answer:
An s corporation or a limited liability company, but not a corporation.
Explanation:
According to your question, is An S corporation, a limited liability company, or a corporation? Therefore Option D is correct.
What is Liability?Accounts payable, wages and taxes are examples of current obligations, which are sums owed for ongoing costs. Current obligations will also include payments on long-term debt due in the following year.
Liabilities include things like -
a bank loan
a mortgage loan
Payment due to suppliers (accounts payable)
Paid wages
tax debt
Liabilities are listed on a company's balance sheet. The entire number of liabilities must match the difference between the total amount of assets and the total amount of equity, according to the accounting equation.
Hence, An S corporation, a limited liability company, or a corporation is correct according to the question.
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Your Question was incomplete but most probably your question was.
What type of arrangement(s), if any, would avoid double taxation for Wendall's and Shirley's endeavors? Choose the best answer if the choices below.
A. A corporation
B. A limited liability company
C. An S corporation
D. An S corporation, a limited liability company, or a corporation
E. An S corporation or a limited liability company, but not a corporation
Which examples demonstrate common qualifications for Quality Assurance careers? Check all that apply.
Claudia designs images and writes text for a product advertisement.
Harrison stands for long periods while checking the quality of a factory’s manufacturing process.
Mercedes inspects products on an assembly line to make sure they meet the company’s standards.
Lyle convinces customers to purchase defective products for a discounted price.
Arturo performs laboratory tests to check for pollution in the area near a factory.
Simone weighs and measures products to make sure they are the right size.
Answer:
2, 3, 6
Explanation:
Answer:
2,3,6 just did it on edge
Explanation:
Sheffield Company had sales in 2019 of $1,842,400 on 65,800 units. Variable costs totaled $1,184,400, and fixed costs totaled $498,000. A new raw material is available that will decrease the variable costs per unit by 20% (or $3.60). However, to process the new raw material, fixed operating costs will increase by $93,000. Management feels that one-half of the decline in the variable costs per unit should be passed on to customers in the form of a sales price reduction. The marketing department expects that this sales price reduction will result in a 5% increase in the number of units sold. (a) Prepare a projected CVP income statement for 2020, assuming the changes have not been made. SHEFFIELD COMPANY CVP Income Statement Total Per Unit $ $ $ $
Answer:
Assuming that no changes happened, 2020 sales and expenses should be similar to 2019's:
Total Per unit
Total sales $1,842,400 $28
Variables costs ($1,184,400) ($18)
Contribution margin $658,000 $10
Fixed costs ($498,000) ($7.57)
Operating income $160,000 $2.43