Answer:Production budget for 2020 =77,000 units
Explanation:
Production budget also referred to as manufacturing budget tells a business the expected units needed to be produced which depends on the sales budget in the inventories ( both closing and opening) so as to meet customers demand.
Units produced = Projected sales + desired ending inventory – beginning inventory
Units Produced/ Production budget for 2020 =87,000 + 22,000 - 32,000
= 77,000 units
0
On January 1, 2021, Cori Ander Herbs granted restricted stock units (RSUs) representing 300,000 of its $1 par common shares to executives, subject to forfeiture if employment is terminated within three years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. The common shares had a market price of $14 per share on the grant date. At the date of grant, the company anticipated that 4% of the recipients would leave the firm prior to vesting. In 2022, 3% of the options are forfeited due to executive turnover. The company chooses the option not to estimate forfeitures. What amount should the company record as compensation expense for the year ended December 31, 2022
Answer: $1,288,000
Explanation:
The amount should the company record as compensation expense for the year ended December 31, 2022 will be calculated thus
Number of RSUs = 300,000
Market price of shares = $14
Term of RSUs = 3 years
The compensation expense for year 1 which is 2021 will be:
= [(300,000 × $14) × 1 / 3] - $0
= $1,400,000
The compensation expense for year 2 which is 2022 will be:
= [(288,000 × $14) * 2 / 3] - $1,400,000
= $2,688,000 - $1,400,000
= $1,288,000
Therefore, the amount should the company record as compensation expense for the year ended December 31, 2022 will be $1,288,000
Note that the number of RSUs in 2022 was calculated as:
= 300,000 × (100% - 4%)
= 300,000 × 96%
= 288,000
Sure Tool Company is expected to pay a dividend of $2 in the upcoming year. The risk-free rate of return is 4%, and the expected return on the market portfolio is 14%. Analysts expect the price of Sure Tool Company shares to be $22 a year from now. The beta of Sure Tool Company's stock is 1.25. What is the intrinsic value of Sure's stock today?
a. $22.00
b. $12.12
c. $20.60
d. $20.00
Answer:
c. $20.60
Explanation:
Required return = Risk free rate + Beta*(Market rate-Risk free rate)
= 4 + 1.25*(14-4)
= 4 + 1.25*10
= 4 + 12.5
= 16.5%
Intrinsic value = Future dividend and value*Present value of discounting factor(rate%,time period)
= 2/1.165 + 22/1.165
= 1.7167 + 18.8841
= 20.6008
= $20.6
So, the intrinsic value of Sure's stock today is $20.60.
a. At the beginning of the year, Addison Company's assets are $176,000 and its equity is $132,000. During the year, assets
increase $80,000 and liabilities increase $59,000. What is the equity at year-end?
b. Office Store Company has assets equal to $224,000 and liabilities equal to $194,000 at year-end. What is the equity for
Office Store Company at year-end?
c. At the beginning of the year, Quaker Company's liabilities equal $69,000. During the year, assets increase by $60,000,
and at year-end assets equal $190,000. Liabilities decrease $18,000 during the year. What are the beginning and ending
amounts of equity?
At the beginning of the year, Addison Company's assets will be:
a. The equity at year-end will be $197,000.
b. The equity for Office Store Company at year-end will be $30,000.
c. The beginning and ending amounts of equity will be $103
What is assets?
Assets are items of value owned by an individual or an organization. Assets are divided into two categories: tangible and intangible. Tangible assets are physical in nature, such as cash, land, buildings, equipment, inventory, and investments. Intangible assets are non-physical, such as intellectual property, goodwill, copyrights, and trademarks. Assets can be used to measure the value of a business and its performance.
a. Equity at year-end = $176,000 + $80,000 - $59,000 = $197,000
b. Equity for Office Store Company at year-end = $224,000 - $194,000 = $30,000
c. Beginning equity = $69,000; Ending equity = $190,000 - $69,000 - $18,000 = $103
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An analysis of comparative balance sheets, the current year’s income statement, and the general ledger accounts of Wellman Corp. uncovered the following items. Assume all items involve cash unless there is information to the contrary.
Indicate how each item should be classified in the statement of cash flows using these four major classifications: operating activity (indirect method), investing activity, financing activity, and significant noncash investing and financing activity.
(a) Payment of interest on notes payable.
(b) Exchange of land for patent.
(c) Sale of building at book value.
(d) Payment of dividends.
(e) Depreciation.
(f) Receipt of dividends on investment in stock.
(g) Receipt of interest on notes receivable.
(h) Issuance of common stock.
(i) Amortization of patent.
(j) Issuance of bonds for land.
(k) Purchase of land.
(l) Conversion of bonds into common stock.
(m) The loss on the sale of land.
(n) Retirement of bonds.
1. Investing Activity
2. Operating Activity
3. Financing Activity
4. Noncash Investing and Financing Activity
Answer:
(a) Payment of interest on notes payable.
Classification: Operating activity
(b) Exchange of land for patent.
Classification: Non-cash Investing and Financing activity
(c) Sale of building at book value.
Classification: Investing activity
(d) Payment of dividends.
Classification: Financing activity
(e) Depreciation.
Classification: Operating activity
(f) Receipt of dividends on investment in stock.
Classification: Operating activity
(g) Receipt of interest on notes receivable.
Classification: Operating activity
(h) Issuance of common stock.
Classification: Financing activity
(i) Amortization of patent.
Classification: Operating activity
(j) Issuance of bonds for land.
Classification: Non-cash Investing and Financing activity
(k) Purchase of land.
Classification: Investing activity
(l) Conversion of bonds into common stock.
Classification: Non-cash Investing and Financing activity
(m) The loss on the sale of land.
Classification: Operating activity
(n) Retirement of bonds.
Classification: Financing activity
Identify the relevant total quality management (TQM) technique for each example or description in the following table.
Example/Description
1.When a defense company needed to create quality software, they brought representatives from the Quality Assurance (QA) group in to work with software and systems engineers. The QA group found that peer reviews were the best way to catch software bugs, and they shared their knowledge with the head of software engineering. Working together with the engineers, the QA group started a system of peer reviews and formal inspections, and together, the group decreased the number of problems in the software the company produced.
A. Quality partnering
B. Continuous improvement
C. Quality circle
D. Benchmarking
2.Wausau Window and Wall Systems started this process with a commitment from the CEO that he and all other managers in the company would be trained in program fundamentals. Using this problem-solving methodology, Wausau relentlessly pursued higher quality and lower costs at its window trim plant. Intensive analysis led to a redesigned workflow that improved productivity by 100%.
A. Benchmarking
B.Continuous improvement
C. six sigma
D. Quality circle
3. At the Franklin Steel Products Plant in Franklin, Kentucky, employees from the Dana Corporation’s Perfect Circle Products unit manufacture as many as 3,500 different part numbers, primarily for automakers Ford, General Motors, and DaimlerChrysler, as well as thousands of after-market products. Despite the high-volume, high-mix environment, Dana Franklin has maintained a 99% on-time delivery rate to customers since 2001. The philosophy here is that with each unit produced, with each hour, with each day and each week, the plant gets just a little bit better.
A. Six Sigma
B. Quality circle
C. Continuous Improvement
D.Benchmarking
4.Which of the following factors is likely to have a negative impact on the success of a TQM program? Check all that apply.
A. TQM motivates employees and enriches jobs.
B. Middle managers fear that they will lose their authority.
C.Managers expect to see dramatic innovations as a result of TQM.
D. Employees are dissatisfied with working conditions.
Answer:
Following are the responses to the given choices:
Explanation:
In question 1 the answer is "Choice A" because this technology and creation of such technology staff are more knowledgeable but interacting within their various organizations is necessary to understand a business strategy to build appropriate solutions. In the current context Interplay with QA service also helped to provide the best options. In question 2 the answer is "Choice C" because it simply put, six-sigmas can identify which areas of changes related to the production system using the resources at the lowest cost possible. It is beneficial at a cheaper price. In question 3 the answer is "Choice C" because The Efficiency on a continuous basis by evaluating all of the areas necessary Its change by optimal use of that was a sign of high potential growth and development.In question 4 the answer is "Choice B, C, and D" TQM represents Total Quality Management, which indicates that it considers all areas necessary to improve and advance in general.Lucas is a field sales representative for Pioneer Seeds and makes sure he has ball caps, umbrellas, and t-shirts with the Pioneer brand logo in his car. He likes to present one of these items to his customers and they appreciate having an item with the Pioneer brand symbol. Lucas believes its important to provide a small token of his appreciation to his customers. What type of sales promotion activity is Lucas using? Group of answer choices Specialty advertising Rebate Sampling Contest
Answer:
Specialty advertising
Explanation:
An advertising specialty represent the product of the company logo that is given away to the customers for the motive of generating the goodwill
Since in the question it is mentioned that lucas who is a sales representative and wants to present company items to his customers so that provide a small token so this represent the specialty advertising
hence, the same would be considered
How do you know what put in the balance sheet ???? I don't understand!!!!!
Balance Sheet Accounts
100 Assets 110 Cash
112 Accounts Receivable
115 Inventory
116 Estimated Returns Inventory
117 Office Supplies
118 Prepaid Insurance 120 Land
123 Store Equipment
124 Accumulated Depreciation —Store Equipment
125 Office Equipment
Income Statement Accounts
400 Revenues
410 Sales
500 Costs and Expenses
510 Cost of Goods Sold
520 Sales Salaries Expense 521 Advertising Expense
522 Depreciation Expense— Store Equipment
523 Delivery Expense
529 Miscellaneous Selling Expense
530 Office Salaries Expense
531 Rent Expense
126 Accumulated Depreciation —Office Equipment
200 Liabilities
210 Accounts Payable
211 Salaries Payable
212 Unearned Rent
213 Customer Refunds Payable
215 Notes Payable 300 Stockholders’ Equity
310 Common Stock 311 Retained Earnings 312 Dividends
532 Depreciation Expense— Office Equipment
533 Insurance Expense
534 Office Supplies Expense
539 Misc. Administrative Expense
600 Other Revenue 610 Rent Revenue
700 Other Expense
710 Interest Expense
Answer:
The accounts with numbers starting with 1, 2,3
Explanation:
has Government intervention harmed or supported businesses more during the shelter-in-place?
Answer:
During the shelter-in-place, governments took various economic and financial measures aimed at improving the situation of people and companies that were unable to carry out their activities as a result of the global health situation. Thus, economic aid bonds were issued, taxes were reduced, fiscal benefits and payment facilities were generated, and the development of minimum levels of activity was allowed to facilitate the subsistence of the entities of the private economy. Therefore, government action supported businesses, which would otherwise have gone bankrupt as a result of the pandemic.
A firm is considering purchasing two assets. Asset L will have a useful life of 15 years and cost $4 million; it will have installation costs of $750,000 but no salvage or residual value. asset s will have a useful life of 5 years and cost $2 million; it will have installation costs of $500,000 and a salvage or residual value of $400,000. Which asset will have a greater annual straight - line depreciation?
a. Asset L has $37,500 more in depreciation per year.
b. Asset L has $54,167 more in depreciation per year.
c. Asset S has $37,500 more in depreciation per year
d. Asset S has $103,333 more in depreciation per year.
Answer:
Asset S has $103333 more depreciation expense per year than asset L
Option D is the correct answer.
Explanation:
The straight line depreciation method charges a constant depreciation expense per period throughout the estimated life of the asset. The depreciation expense per year is calculated as follows,
Depreciation expense per period = (Cost - Salvage value) / Estimated useful life of the asset
We first need to calculate the cost of each asset. The cost that is recognized should include all costs incurred to bring the asset to the place and condition of use as intended by the management.
Cost - Asset L = 4000000 + 750000 = 4750000 or 4.75 million
Cost - Asset S = 2000000 + 500000 = 2500000 or 2.5 million
Depreciation expense per year
Asset L = (4750000 - 0) / 15
Asset L = $316,666.67
Asset S = $420000
Difference = 420000 - 316666.67
Difference = $103333.33
Asset S has $103333 more depreciation expense per year than asset L
Exercise 8-6 Selling and Administrative Expense Budget [LO8-7] Weller Company's budgeted unit sales for the upcoming fiscal year are provided below: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 31,000 33,000 24,000 29,000 The company’s variable selling and administrative expense per unit is $3.00. Fixed selling and administrative expenses include advertising expenses of $8,000 per quarter, executive salaries of $50,000 per quarter, and depreciation of $30,000 per quarter. In addition, the company will make insurance payments of $5,000 in the first quarter and $5,000 in the third quarter. Finally, property taxes of $7,000 will be paid in the second quarter. Required: Prepare the company’s selling and administrative expense budget for the upcoming fiscal year. (Round "Per Unit" answers to 2 decimal places.)
Answer and Explanation:
The preparation of the company’s selling and administrative expense budget for the upcoming fiscal year is presented below
For determing this, we add the total of variable selling & admin expense and the fixed selling & admin expense and after calculating it we deduct the depreciation expense so that the cash disbursement can be come
Kindly find the attachment for the computation
What will happen when two countries trade based on comparative advantage?
(1 point)
A.
Each country will gain from international trade.
B.
Each country will lose from international trade.
C.
Each country will consume less of all the goods it can produce.
D.
Each country will produce more of all the goods it can produce.
Answer:
Explanation: Trade between two agents or countries allows the countries to enjoy a higher total output and level of consumption than what would have been possible domestically. ... Comparative advantage and opportunity costs determine the terms of trade for exchange under which mutually beneficial trade can occur.
Think about people, organizations, agencies, or projects that need help in your neighborhood or city. List them below along with a description of how you can help.
There are several ways to contribute to the development of your neighborhood or city.
You can start researching which social projects and institutions are active in your neighborhood and seek information on ways you can help them.
A simple way to start helping the community with a positive impact is to organize a selective garbage collection and recycling system, so that there is a reduction of polluting waste on the planet and the promotion of good sustainability practices.
You can also help:
work in NGOs, develop tutoring programs for students, create book clubs, support programs for people in needWith small acts and good will, you are able to transform your community into a better place with a better quality of life for everyone who lives in it.
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1. What is purchasing power parity hypothesis? Is PPP realistic or not? Why?
One of the most extensively researched topics in international finance and general economics is the purchasing power parity (PPP) hypothesis, which assumes a connection between exchange rates and prices.
Countries with robust government economic control occasionally impose official exchange rates that artificially strengthen their own currency. The currency's black market exchange rate is, in contrast, unnaturally low. A PPP exchange rate is perhaps the most accurate foundation for economic comparison in such circumstances.
Benefits of PPP: The key one is that PPP exchange rates have historically been quite stable. Market rates, on the other hand, are more erratic, and utilizing them could lead to rather significant fluctuations in overall growth measurements—even when growth rates in particular countries are consistent.
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Midland Oil has $1,000 par value bonds outstanding at 8 percent interest. The bonds will mature in 25 years. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods. Compute the current price of the bonds if the present yield to maturity is: (Do not round intermediate calculations. Round your final answers to 2 decimal places. Assume interest payments are annual.)
Answer:
Price of a bond is:
= Present value of coupon payments + Present value of bond maturity value or Par
Coupon = 8% * 1,000
= $80
This is a constant payment so can be treated as an annuity.
a. Price of bond at 7% YTM.
= (80 * Present value interest factor of Annuity (PVIFA) 7%, 25 years) + 1,000 / (1 + 7%)²⁵
= (80 * 11.6536) + 184.249177
= $1,116.54
b. Price of bond at 10% YTM:
= (80 * PVIFA 10%, 25 years) + 1,000 / (1 + 10%)²⁵
= (80 * 9.0770) + 92.295998
= $818.46
c. Price of bond at 13% YTM.
= (80 * PVIFA 13%, 25 years) + 1,000 / (1 + 13%)²⁵
= (80 * 7.3300) + 47.10195
= $633.50
Macee Department Store has three departments, and it conducts advertising campaigns that benefit all departments. Advertising costs are $130,000 this year, and departmental sales for this year follow. Department Sales 1 $ 201,000 2 314,900 3 154,100 How much advertising cost is allocated to each department if the allocation is based on departmental sales
Answer:
Results are below.
Explanation:
Giving the following information:
Estimated overhead costs= $130,000
Total sales= 201,000 + 314,900 + 154,100= $670,000
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 130,000 / 670,000
Predetermined manufacturing overhead rate= $0.194 per sales dollar
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
1= 201,000*0.194= 38,994
2= 314,900*0.194= 61,090.6
3= 154,100*0.194= 29,895.4
As the manager in an insurance company, Emanuel is responsible for reviewing the following two plans that he will offer to the public:
1. Low-deductible, high-premium health insurance plan
2. High-deductible, low-premium health insurance plan
Required:
Which plan would someone choose if he or she were concerned that doctors may order too many tests
Answer:
1. Low-deductible, high-premium health insurance plan
Explanation:
The premium paid for a health insurance plan is the amount of money an individual, a family, or a company must pay for a health insurance policy.
The deductible paid on a health insurance plan is the amount paid for medical expenses as an upfront payment before the insurance company pays for the remaining medical expense.
A high-deductible health plan saves more money in the form of lower monthly premiums it gives, and it is cheaper provided the individual or group choosing this service is not someone that have medical ailments that require frequent hospital visits, and doesn't have costly medical bills.
Low deductibles have higher premiums and are best when an individual predicts seeing the doctor often or he/she is not healthy.
A company's total expected overhead for the year is $500,000. Two activity cost pools have been identified: Customer Service with a total cost of $200,000 and a total activity of 25,000 customer service calls; and Product Development with a total cost of $300,000 and total activity of 20,000 development hours. Using activity-based costing, calculate the appropriate activity rate
Answer:
Customer Service= $8 per call
Product Development= $15 per develop hour
Explanation:
Giving the following information:
Customer Service with a total cost of $200,000 and a total activity of 25,000 customer service calls.
Product Development with a total cost of $300,000 and a total activity of 20,000 development hours.
To calculate the activities rates, we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Customer Service= 200,000 / 25,000= $8 per call
Product Development= 300,000 / 20,000= $15 per develop hour
Beta Inc. can produce a unit of Zed for the following costs:
Direct material 10
Direct labor 20
Overhead 50
Total costs
per unit $80
An outside supplier offers to provide Beta with all the Zed units it needs at $58 per unit. If Beta buys from the supplier, it will still incur 40% of its overhead. Beta should:____.
A. Buy Zed since the relevant cost to make it is $80.
B. Buy Zed since the relevant cost to make it is $30.
C. Make Zed since the relevant cost to make it is $30.
D. Buy Zed since the relevant cost to make it is $60.
E. Make Zed since the relevant cost to make it is $60.
Answer:
The correct answer is D.
Explanation:
First, we will determine the unitary production cost:
Unitary production cost= 10 + 20 + (0.6*50)
Unitary production cost= $60
We only consider the avoidable overhead costs.
Buy= $58 per unit
The unitary cost of buying is lower than making in-house by $2.
Williams Company plans to issue bonds with a face value of $605,000 and a coupon rate of 6 percent. The bonds will mature in 10 years and pay interest semiannually every June 30 and December 31. All of the bonds are sold on January 1 of this year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) Determine the issuance price of the bonds assuming an annual market rate of interest of 6 percent.
Answer:
$605,000
Explanation:
According to the scenario, computation of the given data are as follows,
Face value = $605,000
Coupon rate = 6%
Rate of interest = 6%
As coupon rate and market interest rate is similar, then in this scenario issuance price of the bond is equals to face value of the bond.
Then, Issuance price of bonds = Face value of bonds
Issuance price of bonds = $605,000
Which of the following statements is the most accurate.
a. The direct write-off method is the accepted method because it is easier for companies.
b. The allowance method is the accepted method because it is easier for companies.
c. The direct write-off method is the accepted method because it follows the expense recognition (matching) principle.
d. The allowance method is the accepted method because it follows the expense recognition (matching) principle.
Answer:
The most accurate statement is:
d. The allowance method is the accepted method because it follows the expense recognition (matching) principle.
Explanation:
The difference between the direct write-off method and the allowance method is that with the direct write-off method, the bad debt expense is created once an invoice cannot be paid by the customer. On the other hand, the allowance method estimates the future bad debt and makes provision for it immediately a credit sale is finalized. The direct write-off method is favored by the IRS, while GAAP approves the allowance method.
Windmill Corporation,a Dutch corporation,is owned by the following unrelated persons: 50 percent by a U.S.corporation,5 percent by a U.S.individual,and 45 percent by a Swiss corporation.During the year,Windmill earned $2,000,000 of subpart F income.Which of the following statements is true about the application of subpart F to the income earned by Windmill?
A) Windmill is a CFC and the U.S. corporation and U.S. individual will have a deemed dividend of $1,000,000 and $100,000, respectively.
B) Windmill is a CFC and only the U.S. corporation will have a deemed dividend of $1,000,000.
C) Windmill is a CFC and the U.S. corporation, U.S. individual, and Swiss corporation will have a deemed dividend of $1,500,000, $100,000, and $900,000, respectively.
D) Windmill is not a CFC and none of the shareholders will have a deemed dividend under subpart F.
Answer: Windmill is not a CFC and none of the shareholders will have a deemed dividend under subpart F.
Explanation:
Subpart F income include insurance income, illegal bribes, foreign base company income, international boycott factor income, etc.
It should be noted that Windmill isn't a controlled foreign corporation that is the company isn't a corporate entity which is duly registered and then conducts business in another country that's different from its home country. Therefore, none of the shareholders will have a deemed dividend under subpart F.
You believe that the future value of the Australian dollar will be determined by purchasing power parity (PPP). You expect that inflation in Australia will be 6 percent next year, while inflation in the United States will be 1 percent next year. Today the spot rate of the Australian dollar is $0.78, and the one-year forward rate is $0.73. What is the expected spot rate of the Australian dollar in one year
Answer:
The expected spot rate of the Australian dollar in one year = 1.28 AUD per USD
Explanation:
The Current spot rate of Australian dollar against US Dollar
= [tex]\frac{1}{0.81}[/tex] AUD /USD
[tex]= 1.234[/tex] AUD per USD.
Inflation rate in Australia [tex]= 6[/tex]%
Inflation in the US [tex]= 2[/tex]%
Percentage change in Australian currency
[tex]=\frac{(1+0.06)}{(1+0.02)} -1[/tex]
[tex]=0.039 = 3.9[/tex] %
Thus, the spot exchange rate of AUD 1 year from now will be
[tex](1+0.039)*1.23 = 1.28[/tex]AUD per USD.
Within a an organizational structure, the person most likely to be evaluated in terms of controllable costs would be:___________.
a. A cost center manager.
b. A production line worker.
c. A graphic designer.
d. A payroll clerk.
e. A maintenance worke
Answer:
a. A cost center manager.
Explanation:
Cost center managers would be responsible for the transactions that are charged to the center. Here the managers would be responsible for creating the revenue budget and expenses for the cost center that should be on an annual basis
So according to the given situation, the controllable cost would be evaluated based on the cost center manager
hence, the option a is correct
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $11,000 cash and $47,300 of photography equipment in the company in exchange for common stock. 2 The company paid $3,800 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $2,090 cash. 20 The company received $2,950 cash in photography fees earned. 31 The company paid $878 cash for August utilities. Prepare general journal entries for the above transactions.
Answer:
Aug 01
Dr Cash 11,000
Dr Photography equipment 47,300
Cr Common stock 58,300
Aug 02
Dr Prepaid insurance 3,800
Cr Cash 3,800
Aug 05
Dr Office supplies 2,090
Cr Cash 2,090
Aug 20
Dr Cash $2,950
Cr Photography fees earned $2,950
Aug 31
Dr Utilities expense $878
Cr Cash $878
Explanation:
Preparation of the general journal entries
Aug 01
Dr Cash 11,000
Dr Photography equipment 47,300
Cr Common stock 58,300
(47,300+11,000)
Aug 02
Dr Prepaid insurance 3,800
Cr Cash 3,800
Aug 05
Dr Office supplies 2,090
Cr Cash 2,090
Aug 20
Dr Cash $2,950
Cr Photography fees earned $2,950
Aug 31
Dr Utilities expense $878
Cr Cash $878
The following data are given for Stringer Company: Budgeted production 967 units Actual production 1,021 units Materials: Standard price per ounce $1.98 Standard ounces per completed unit 11 Actual ounces purchased and used in production 11,568 Actual price paid for materials $23,714 Labor: Standard hourly labor rate $14.92 per hour Standard hours allowed per completed unit 4.4 Actual labor hours worked 5,258.15 Actual total labor costs $80,187 Overhead: Actual and budgeted fixed overhead $1,035,000 Standard variable overhead rate $27.00 per standard labor hour Actual variable overhead costs $147,228 Overhead is applied on standard labor hours. The direct materials quantity variance is a.809.36 favorable b.809.36 unfavorable c.667.26 unfavorable d.667.26 favorable
Answer:
d. 667.26 Favorable
Explanation:
Direct materials quantity variance = (Standard quantity allowed - Actual Quantity Used) * Standard Price of a unit of direct material
Direct materials quantity variance = (11*1,021 - 11,568) * $1.98
Direct materials quantity variance = (11,231 - 11,568) * $1.98
Direct materials quantity variance = 337 * $1.98
Direct materials quantity variance = $667.26 Favorable
Jackson, a self-employed taxpayer, uses his automobile 88% for business and during 2020 drove a total of 24,800 business miles. Information regarding his car expenses is listed below. Business parking $ 300 Auto insurance 3,000 Auto club dues (includes towing service) 360 Toll road charges (business-related) 450 Oil changes and engine tune-ups 480 Repairs 330 Depreciation allowable 6,000 Fines for traffic violations (incurred during business use) 600 Gasoline purchases 6,600 What is Jackson's deduction in 2020 for the use of his car if he uses: If required, round your answers to nearest dollar.
Answer:
300+3000+360+450+480+330+600+6600 =12120
12120 x 6000 ÷ 100 = 727 200
Explanation:
Add all expenses but leave out the 6,000 because it's Depreciation.
Give reasons that can explain why a stock price might not react at all on the day that new information related to the stock's issuer is released? Which of these reasons hold if the market is semi strong form efficient? Explain your argument.
what should you do in case you know well the subject discussed
Answer:
learn and listen every single word of class
Text that is slanted slightly to the right is said to be
O bolded
O Italic
O underlined
O superscripted
Answer:
O Italic.
Explanation:
You have been working as a security analyst in the information security department at Aim Higher College for two months. Your manager asks you to propose a set of controls that will allow the use of the research datacenter for its intended purpose while protecting the business systems that reside there. What controls would you suggest, and why
Answer: Hello some parts of your question is missing below is the missing part
Aim Higher College has two primary datacenters on campus—the research datacenter and the business datacenter. Due to budget and space limitations, the research datacenter is also used to house the backup systems for the business datacenter, resulting in business data being stored in both locations.
The research datacenter, shown in the diagram below, is typically left unlocked, as many students and faculty members use it for their work. The network infrastructure is not monitored, and the systems themselves are not required to be secured.
Recently, signs of after-hours access have been found in the research datacenter. Doors have been left open, lights have been on, and logins have been found on research systems. Logs indicate that local logins have been attempted on the business system consoles as well.
answer :
i) physical protection
ii) Continuous password review
Explanation:
The controls that I would suggest are
i) Physical protection : There should be an increased presence of physical security in and around the premises of the Datacenter in order to reduce un-authorized access
ii) continuous review/change of passwords to limit/avoid signs during after- hours and also prevent Local logins as well.