Answer:
(b)
Total available time = 18x60 =1080 min.
Total processing time = 320x0.5 = 160 min
Total set up time = 320x1 -320 min.
Total rework time = ( 1+0.5) =120 min.
Total Non value added time = set up time + rework time 320+120 = 440 min.
(c) Total value added time = processing time = 160 min.
(d) Total waste time = set up time + rework time + Idle time 320+120+ 480 = 920 mn.
(e) OEE = processing time / time available = 160/1080 = 0.1481 = 14.81%
Click to watch the Tell Me More Learning Objective 5 video and then answer the questions below. 1. The entry to record the amortization of a patent would include a debit to __________ and a credit to __________. Amortization Expense; Patents Amortization Expense; Accumulated Amortization Patents; Accumulated Amortization Patents Expense; Accumulated Amortization 2. The exclusive right to publish and sell a literary, artistic, or musical composition is granted by a patent. trademark. copyright. franchise.
Answer:
1. Amortization Expense; Patents.
2. Copyright.
Explanation:
Patent can be defined as the exclusive or sole right granted to an inventor by a sovereign authority such as a government, which enables him or her to manufacture, use, or sell an invention for a specific period of time.
Generally, patents are used on innovation for products that are manufactured through the application of various technologies.
Basically, the three (3) main ways to protect an intellectual property is to employ the use of
I. Trademarks.
II. Patents.
III. Copyright.
Copyright law can be defined as a set of formal rules granted by a government to protect an intellectual property by giving the owner an exclusive right to use while preventing any unauthorized access, use or duplication by others.
Filling the missing words or texts in the question, we have;
1. The entry to record the amortization of a patent would include a debit to amortization expense and a credit to patents. Amortization in financial accounting is used to periodically lower the book value of a loan principal or an intangible asset such as intellectual property over a set period of time.
2. Copyright: the exclusive right to publish and sell a literary, artistic, or musical composition is granted by a patent.
Common size financial statements help an analyst to:
Select one:
a. Evaluate financial statements of companies within a given industry of the approximate same size.
b. Determine which companies in a similar industry are at approximately the same stage of development.
c. Compare the mix of assets, liabilities, capital, revenue, and expenses within a company over a period of time or between companies within a given industry without respect to size.
d. Ascertain the relative potential of companies of similar size in different industries.
Answer:C
Explanation:
Compare the mix of assets, liabilities, capital, revenue, and expenses within a company over a period of time or between companies within a given industry without respect to size.
There is a large transportation network in order to get from the point of manufacture to the point of sale
Answer:
True
Explanation:
It is TRUE that there is an extensive transportation network to get from the point of manufacture to the end of the sale.
After the product is manufactured in the factory, it will go through or bought by different wholesalers who will have to sell to a group of retailers, all in various places, before being sold to final consumers.
In most cases, there is usually a long list of retailers before the goods reached the final consumers. This movement of goods between all the stakeholders involved can go through various locations, states, or regions before it finally gets consumed.
Hence, in this case, the correct answer is "TRUE."
Are female expatriates different?.
Answer:
Explanation: Selmer and Leung (2003c) found that female expatriates have the same general adjustment as male expatriates, but with higher levels of work adjustment and better interaction adjustment. A replication study by Haslberger (2010) confirms that the adjustment patterns of male and female expatriates are different.
Answer:
yes the patterns of male and female expatriates are different
Which is a typical job role/career in business information management?
A.
researcher
B.
speaker
C.
writer
D.
project manager
E.
accounting manager
Which of these investments may be long term? Choose four answers.
savings accounts
mutual funds
bonds
retirement funds
commodities
These long-term investments are the asset size of company balance sheets i.e shown by a company's investments it including stocks, bonds, and real estate these are long-term as they are kept for one than one year.
The long-term investment includes mutual funds, bonds, retirement funds, commodities. These are investments that are made for the long term periods and may be for long-term goals of the individual or the organization.
Thus the options B, C, D, and E are correct.
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The investments may be long term is bonds and retirement funds.
What is long term investment?A long-term investment is an investment owned by an individual or company for more than three year.
This could be a company or an individual asset such as real estate and bonds that takes a long time to mature because they do not generate income immediately.
Therefore, The investments may be long term is bonds and retirement funds
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For the week of June 6, Melvin Mince, the manager of Melvins Hotel in North western Illinois, budgeted 600 hours for room attendants to clean rooms. This budget was based on a work standard of cleaning one room every 36 mins. The rooms attendants actually worked 660 hours cleaning 1,050 rooms. The budgeted wage rate for room attendants is $3.40 per hour. The wages paid to room attendant totaled $2,178.00.
1. What is the amount of the budget variance?
2. What is the amount of the volume variance?
3. What is the amount of the efficiency variance?
4. What is the amount of the rate variance?
Answer: See explanation
Explanation:
From the information given,
Budgeted hours = 660
Budgeted rate per hour = 3.4
Budgeted rooms to clean = (600 × 60)/36 = 36000/36 = 1000
1. What is the amount of the budget variance?
This will be:
= (Actual room - Budgeted room) × Standard rate
= (1050 - 1000) × 3.4
= 50 × 3.4
= 170 favorable
2. What is the amount of the volume variance?
This will be:
= Standard cost - Actual labor cost
= (630 × 3.4) - (660 × 3.3)
= 2142 - 2178
= 36 Unfavorable
3. What is the amount of the efficiency variance?
This will be:
= 3.4 × (630 - 660)
= 3.4 × (-30)
= 10.20 Unfavorable
4. What is the amount of the rate variance?
This will be:
= Actual time ( Standard rate - Actual rate)
= 660 × (3.4 - 3.3)
= 660 × 1
= 660 Favorable
You are in the top-management team of a growing software company. You joined last month when the company had 60 employees. The company has secured more funding from investors and is preparing to scale up to nearly 500 employees over the next 18 months. What do you think is important to keep in mind as the organization prepares to grow
Answer:
The responses to these question can be described as follows:
Explanation:
The following are a few points that I understand are important to note as the business plans for development:
Learn what you should and shouldn't do:
As an HR professional, becoming able to adequately differentiate items is extremely important. There would not be bills passed that are a hindrance to future relationship progress, but it's critical to understand what should be done and that it shouldn't be done.
Stay Focused:
It the crucial to also be focused upon on strategy which will be implemented later on, while still remembering that its organization must build or create itself. It will develop the association, all energies and initiatives should be channeled into such a single direction.
Hiring the ideal people:
If an affiliation prepares for expansion, it's indeed critical to enlist its best people for the job, as shown by the role as well as the affiliation's launch. People who see it as important and knowledgeable to affiliation should be selected.
Invest in an extraordinary team:
Once their affiliation sets out how to build, it's critical whether you engage in a nice team that operates efficiently and effectively in the relationship to achieve the affiliation's aims and outcomes.
You do not start saving money until age 46. On your 46th birthday you dutifully invest $10,000 each year until you finish your deposits when you reach the age of 65 (you make the last deposit on your 65th birthday). The annual interest rate is 8% that you earn on your deposits. Your brother starts saving $10,000 a year on his 36th birthday but stops making deposits after 10 years. He then withdraws the compounded sum when he reaches age 65. How much more money will your brother have than you at age 65?
Answer:
$217,600
Explanation:
The computation of the more money is shown below:
As we know that
The Future value of the annuity is
= P × { (1+r)^n - 1} ÷ r
= $10,000 × (1+.08)^20 - 1) ÷ 0.08
= $457,619.64
For 36 years to 46 years,
FV = $10,000 × (1+.08)^10 - 1) ÷ 0.08
= $144,865.62
Now
FV = PV(1+r)^n
= $144,865.62× (1+.08)^20
= $675,212.47
Now the more amount would be
= $675,212.47 - $457,619.64
= $217592.83
= $217,600
Forever Ready Company expects to operate at 85% of productive capacity during May. The total manufacturing costs for May for the production of 34,000 batteries are budgeted as follows:
Direct materials $330,600
Direct labor 121,600
Variable factory overhead 34,000
Fixed factory overhead 68,000
Total manufacturing costs $554,200
The company has an opportunity to submit a bid for 3,000 batteries to be delivered by May 31 to a government agency. If the contract is obtained, it is anticipated that the additional activity will not interfere with normal production during May or increase the selling or administrative expenses.
What is the unit cost below which Forever Ready Company should not go in bidding on the government contract? Round your answer to two decimal places.
Answer:
$14.3
Explanation:
Calculation to determine the unit cost which Forever Ready Company should not go in bidding on the government contract.
Direct materials $9.72
($330,600/34,000)
Direct labor $3.58
($121,600/34,000)
Variable factory overhead $1
($34,000/34,000)
Total per unit cost $14.3
($9.72 + $3.58 + $1)
Therefore, the unit cost which Forever Ready Company should not go in bidding on the government contracts is $14.3
The balance sheets for Plasma Screens Corporation, along with additional information, are provided below:
PLASMA SCREENS CORPORATION
Balance Sheets
December 31, 2021 and 2020
2021 2020
Assets
Current assets:
Cash $ 112,700 $ 131,800
Accounts receivable 81,200 96,000
Inventory 103,000 87,200
Prepaid rent 5,600 2,800
Long-term assets:
Land 520,000 520,000
Equipment 822,000 710,000
Accumulated depreciation (436,000 ) (284,000 )
Total assets $ 1,208,500 $ 1,263,800
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 107,000 $ 92,200
Interest payable 6,900 13,800
Income tax payable 9,600 5,800
Long-term liabilities:
Notes payable 115,000 230,000
Stockholders' equity:
Common stock 740,000 740,000
Retained earnings 230,000 182,000
Total liabilities and stockholders' equity $ 1,208,500 $ 1,263,800
Additional Information for 2021:
Net income is $77,000.
The company purchases $112,000 in equipment.
Depreciation expense is $152,000.
The company repays $115,000 in notes payable.
The company declares and pays a cash dividend of $29,000.
Required:
Prepare the statement of cash flows using the indirect method. (List cash outflows and any decrease in cash as negative amounts.)
Answer:
Plasma Screens Corporation
Statement of Cash Flows for the year ended December 31, 2021
Operating activities:
Net income $77,000
Add Non-cash flows:
Depreciation expense 152,000
Adjusted net operating income $229,000
Changes in working capital:
Accounts receivable 14,800
Inventory -15,800
Prepaid rent -2,800
Accounts payable 14,800
Interest payable -6,900
Income tax payable 3,800
Net operating cash flows $236,900
Investing activities:
Purchase of equipment -$112,000
Financing activities:
Repayment of Notes payable -$115,000
Dividends payment -29,000
Net cash flow from financing -$144,000
Net cash flows -$19,100
Reconciliation of cash:
Beginning Cash balance $131,800
Net cash flows -$19,100
Ending Cash balance $112,700
Explanation:
a) Data and Calculations:
PLASMA SCREENS CORPORATION
Balance Sheets
December 31, 2021 and 2020
2021 2020 Change
Assets
Current assets:
Cash $ 112,700 $131,800 -$19,100
Accounts receivable 81,200 96,000 -14,800
Inventory 103,000 87,200 +15,800
Prepaid rent 5,600 2,800 +2,800
Long-term assets:
Land 520,000 520,000 0
Equipment 822,000 710,000 +112,000
Accumulated depreciation (436,000 ) (284,000) +152,000
Total assets $ 1,208,500 $1,263,800
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 107,000 $ 92,200 +$14,800
Interest payable 6,900 13,800 -6,900
Income tax payable 9,600 5,800 +3,800
Long-term liabilities:
Notes payable 115,000 230,000 -115,000
Stockholders' equity:
Common stock 740,000 740,000 0
Retained earnings 230,000 182,000 +48,000
Total liabilities & stockholders' equity $ 1,208,500 $1,263,800
Additional Information for 2021:
Net income is $77,000.
The company purchases $112,000 in equipment.
Depreciation expense is $152,000.
The company repays $115,000 in notes payable.
The company declares and pays a cash dividend of $29,000
Imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The supply schedule below shows the quantity of peaches supplied in each state at each price.
Individual and Market Supply of Peaches
Quantity of Peaches Supplied (pounds)
Price (dollars per pound) GA SC Market
$10 20,000 18,000 ?
8 16,000 15,000 ?
6 12,000 12,000 ?
4 8,000 9,000 ?
2 4,000 6,000 ?
Required:
a. Complete the column labeled "Market."
b. The quantity of peaches supplied to the market at a price of $6 per pound is pounds.
Answer:
a. Completion of the column labeled "Market:"
Quantity of Peaches Supplied (pounds)
Price (dollars
per pound) GA SC Market
$10 20,000 18,000 38,000
8 16,000 15,000 31,000
6 12,000 12,000 24,000
4 8,000 9,000 17,000
2 4,000 6,000 10,000
b. The quantity of peaches supplied to the market at a price of $6 per pound is 24,000 pounds.
Explanation:
a) Data and Calculations:
Individual and Market Supply of Peaches
Quantity of Peaches Supplied (pounds)
Price (dollars
per pound) GA SC Market
$10 20,000 18,000 ?
8 16,000 15,000 ?
6 12,000 12,000 ?
4 8,000 9,000 ?
2 4,000 6,000 ?
Quantity of Peaches Supplied (pounds)
Price (dollars
per pound) GA SC Market (GA + SC)
$10 20,000 18,000 38,000 (20,000 + 18,000)
8 16,000 15,000 31,000 (16,000 + 15,000)
6 12,000 12,000 24,000 (12,000 + 12,000)
4 8,000 9,000 17,000 (8,000 + 9,000)
2 4,000 6,000 10,000 (4,000 + 6,000)
Grant and Marvin organized a new business as a corporation in which they own equal interests. The new business generated a $65,000 operating loss for the year. Use Appendix A. Required: Assume the corporation expects to generate $500,000 of income next year and has a 21 percent tax rate. Calculate the net present value of the future tax savings associated with the current year operating loss, using a 4 percent discount rate. (Do not round intermediate computations. Round your final answer to the nearest whole dollar amount.)
Answer:
The net present value of the future tax savings associated with the current year operating loss is:
= $13,650.
Explanation:
a) Data and Calculations:
Operating loss for the current year = $65,000
Expected income next year = $500,000
Income tax rate = 21%
N (# of periods) 1
I/Y (Interest per year) 4
PMT (Periodic Payment) 0
FV (Future Value) 500000
Results
PV = $480,769.23
Total Interest $19,230.77
Tax = $480,769.23 * 21%
= $100,961.53
Tax = ($480,769.23 - 65,000) * 21%
= $415,769.23 * 21%
= $87,311.53
Tax savings = $13,650 ($100,961.53 - 87,311.53)
or $65,000 * 21%
= $13,650
The net present value of the future tax savings associated with the current year operating loss will be $13650.
Based on the information given, one has to calculate the tax for both periods, this will be:
First tax = $489769.23 × 21%
= $100961.53.
The second tax will be:
= ($480769.23 - $65000) × 21%
= $87311.53
Therefore, the tax savings will be:
= $100961.53 - $87311.53
= $13650
Therefore, the net present value of the future tax savings is $13650.
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a vacuum manufacturer has prepared the following cost data for manufacturing one of its engine components based on the annual production of 50,000 units
Making the engine in-house would be more practical for the corporation than purchasing one from the market. To boost output while maintaining product quality.
What is the cost per unit?
The phrase “cost per unit” refers to the lowest price a corporation must sell a product for in order to break even.
Fixed factory overhead (24×150%) Fixed factory (25% Of 36)
For the purpose of making decisions, this overhead shall not be taken into account as 75% of the fixed overhead cost.
The unit can be purchased from the market for $60. Accordingly, the corporation should produce the engine rather than purchase it from the market because it is more practical for the business.
Company maintains the brand name, increase production and maintain quality of product.
Solving data attach on file.
Hence, the significance of the manufacturing is aforementioned.
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What does "pivoting" mean in the process of concept development?
Select an answer:
• applying the same concept to a completely different problem
• adapting or modifying a concept to address one of the four enablers (1)
• identifying data required to validate a concept
• ideating to establish the antithesis of the design concept
Answer:
identifying data required to validate a concept
Ganon Co. applies overhead based on direct labor hours. They have an applied overhead of $48,000 and actual overhead of $66,500 for the month of March. In March, the total number of direct labor hours was 1,200 and the total number of machine hours was 5,910. Overhead for the year was estimated to be $690,000. How many direct labor hours were estimated for the year
Answer:cud unfriend and I have a good idea about how you are cute lol
Fjjfjffnf
Explanation:
Cjfjfjffuhejejeiejwkwkwkd is tyiooo and you have to do it for you or not
challenges faced when dealing with labour issues
Answer:
A huge number of work forces of our country remain partially or wholly unemployed throughout the year or some part of the season. This has led to the problems like disguised unemployment, seasonal unemployment, general unemployment and educated unemployment.
Juan's investment portfolio was valued at $125,640 at the beginning of the year. during the year, juan received $603 in interest income and $298 in dividend income. juan also sold shares of stock and realized $1,459 in capital gains. juan's portfolio is valued at $142,608 at the end of the year. all income and realized gains were reinvested. no funds were contributed or withdrawn during the year. what is the amount of income juan must declare this year for income tax purposes?
Answer:
$2,360
Explanation:
Calculation to determine the amount of income juan must declare this year for income tax purposes
Using this formula
Income tax =Interest Income+Dividend Income+Capital gain
Let plug in the formula
Income tax=$603+$298+$1,459
Income tax=$2,360
Therefore the amount of income juan must declare this year for income tax purposes is $2,360
You have $100 you have $100 to invest. If you can earn 12% interest, about how long does it take for your $100 investment to grow to $200? Suppose the interest rate is just half that, at 6%. At half the interest rate, does it take twice as long to double your money? Why or why not? How long does it take
Answer:
8.33333 years ;
Yes, the time doubles.
Explanation:
Investment amount = principal = $100
Interest rate, r = 12%
Time taken for investment to grow to $200
Using the simple interest formula :
A = P(1 + rt) ; t = time taken ; A = final amount = $200
200 = 100(1 + 0.12t)
200 = 100 + 12t
200 - 100 = 12t
100 = 12t
t = 100 / 12
t = 8.333 years
Time taken, if rate, r = 6%
200 = 100(1 + 0.06t)
200 = 100 + 6t
200 - 100 = 6t
100 = 6t
t = 100 / 6
t = 16.6666 years
Question 9 Dividends on CCN corporation are expected to grow at a 9% per year. Assume that the discount rate on CCN is 12% and that the expected dividend per share in one year is $0.50. CCN has just paid a dividend, so the next dividend is the $0.50 to be paid one year from now. Assume that CCN's return on equity (ROE) is 12%. What fraction of earnings must CCN be plowing back into the company
Answer: 75%
Explanation:
The fraction of earnings that CCN must be plowing back into the company goes thus:
Growth rate = 9%
Discount rate = 12%
Expected dividend per year = $0.50
Return on equity = 12%
It should be noted that:
Growth rate = plowback ratio × Return on equity
9% = plowback ratio × 12%
Therefore, plowback ratio = 9% / 12%
Plowback ratio = 75%
Therefore, fraction of earnings must CCN be plowing back into the company is 75%.
Jeff, a 52% owner of an S corporation, has a stock basis of zero at the beginning of the year. Jeff's basis in a $10,000 loan made to the corporation and evidenced by a corporate note has been reduced to zero by pass-through losses. During the year, his net share of the corporate taxable income is $11,000. At the end of the year, Jeff receives a $15,000 cash distribution.
Discuss the tax effects of the distribution.
Answer:
See below
Explanation:
In order to restore any reduction in loan basis, only the net increase is applied in line with section 1367(b)(Adjustment to basis of stocks of shareholders).
What this means is that there is no net increase regarding the information given above I.e ($11,000 - $15,000).
We can safely conclude that there is $11,000 tax free income since the stock basis has been increased by $11,000. There is also a $4,000 capital gain.
The auditor begins selecting controls to test by _______. by understanding the entity and the business and determining the risk of material fraud or error at the financial statement level by understanding the entity and all other industries and determining the risk of material fraud or error at the financial statement level asking management which controls they would prefer the auditor to test checking the same controls as the prior year
Answer:
by understanding the entity and the business and determining the risk of material fraud or error at the financial statement level.
Explanation:
An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.
Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.
The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.
An internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.
Hence, internal controls if properly executed helps to increase operational efficiency, protect and safeguard assets, provides accurate financial information, prevents fraudulent or unlawful behaviors, timeliness of financial records and reporting.
In order to start the selection of controls to test, an auditor has to understand the entity and the business, as well as determine the risk of material fraud or error at the financial statement level.
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
A standard unmodified opinion is an opinion where financial statements are presented free of any misinterpretation, in all material respects, in accordance with standards known as Generally Accepted Accounting Principles (GAAP) to provide a high level of assurance.
The standard unmodified opinion comprises of report title, audit report address, introduction paragraph, managements responsibility, auditor's responsibility, opinion paragraph, audit report date and signature and address of certified public accountant firm.
Additionally, an unmodified opinion on financial statements can be defined as an opinion issued by an auditor stating that there are no material misstatements and this simply implies that the, the financial statement represents a true and fair perspective of the accounting information of a business.
The Deer Valley Farm (DVF) produces a natural organic fertilizer, which it sells mostly to gardeners and homeowners. The annual demand for fertilizer is 220,000 pounds. The farm is able to produce 305,000 pounds annually. The cost to transport the fertilizer to from the plant to the farm is $620 per load. The DVF sells the fertilizer in containers with 40 pounds of fertilizer. The annual carrying cost is 0.12 per pound.
a. Compute the optimum load size, the maximum fertilizer level at the farm, and the total minimum cost.
b. If the farm can increase the production capacity to 360,000 pounds per year, will it reduce total inventory costs?
Answer:
The Deer Valley Farm (DVF)
a. Optimum load size = 7,625 containers
Maximum fertilizer level at the farm = 5,500 containers
Total minimum cost = $189,110,200
b. No. Total inventory costs will increase.
Explanation:
a) Data and Calculations:
Annual demand for fertilizer = 220,000 pounds
Annual production units = 305,000 pounds
Inventory = 85,000 pounds
Cost to transport the fertilizer to and from the plant to the farm = $620
Each container holds = 40 pounds
Annual carrying cost per pound = $0.12
Optimum load size = 305,000/40 = 7,625 containers
Maximum fertilizer level at the farm = 5,500 containers (220,000/40)
Total minimum cost = $ ($620 * 305,000) + ($0.12 * 85,000)
= $189,110,200 ($189,100,000 + 10,200)
Rodriguez Company pays $410,670 for real estate with land, land improvements, and a building. Land is appraised at $234,000; land improvements are appraised at $52,000; and a building is appraised at $234,000. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.
Answer:$520,000 in an asset after land In conclusion asset is total-$109,330 in asset
Explanation:$520,000 in an asset after land In conclusion asset is total-$109,330 in asset
Suppose two types of consumers buy suits. Consumers of type A will pay $100 for a coat and $50 for pants. Consumers of type B will pay $75 for a coat and $75 for pants. The firm selling suits faces no competition and has a marginal cost of zero. The optimal commodity bundling strategy is:
Answer:
Charge $150 for a suit
Explanation:
Bundling strategy is the pricing of goods by a business despite different customers having different preferential prices they are willing to pay for the good.
In this scenario Consumers of type A will pay $100 for a coat and $50 for pants. Consumers of type B will pay $75 for a coat and $75 for pants.
The two customers are willing to pay $150 for both the jacket and the pants.
So the best decision for the company is to sell a suit made up of the jacket and pants for $150.
This way bother customers will get their preferred price.
Charging $150 for the suit is the optimal commodity bundling strategy in this scenario. Thus, Option (C) is correct.
Consumers of type A are willing to pay $100 for a coat and $50 for pants, totaling $150. By offering a bundled price of $150, the firm ensures that consumers of type A are willing to purchase the suit at their maximum willingness to pay.
Consumers of type B, who are willing to pay $75 for both the coat and pants individually, also find the bundled price of $150 attractive because it allows them to acquire both items at their maximum willingness to pay.
Thus, Option (C) i.e. charging $150 for a suit would maximize the firm's revenue by catering to both types of consumers and capturing their respective willingness to pay.
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Suppose two types of consumers buy suits. Consumers of type A will pay $100 for a coat and $50 for pants. Consumers of type B will pay $75 for a coat and $75 for pants. The firm selling suits face no competition and has a marginal cost of zero. The optimal commodity bundling strategy is: Multiple Choice
a)Charge $100 for a suit.
b)Charge $75 for a suit.
c)Charge $150 for a suit.
d)Charge $125 for a suit.
The Tinsley Company exchanged land that it had been holding for future plant expansion for a more suitable parcel located farther from residential areas. Tinsley carried the land at its original cost of $30,000. According to an independent appraisal, the land currently is worth $72,000. Tinsley paid $14,000 in cash to complete the transaction. Required: 1. What is the fair value of the new parcel of land received by Tinsley assuming the exchange has commercial substance
Answer:
Missing word: 2. Prepare the journal entry to record the exchange assuming the exchange has commercial substance. 3. Prepare the journal entry to record the exchange assuming the exchange lacks commercial substance.
1. Calculation of Fair value of New parcel land:
Market/fair value of old land $72,000
Add: Additional cash given $14,000
Fair value of new land $86,000
2. Date Account titles Debit Credit
Land - new $86,000
Cash $14,000
Land – old (Book value) $30,000
Gain (72000-30000) $42,000
3. Date Account titles Debit Credit
Land – new (30000+14000) $44,000
Cash $14,000
Land – old (book value) $30,000
Aslam wants to create multiple worksheet containing common formatting styles for his team members. Which file extension helps him to save these worksheets?
(Templates),(Workbooks),(Files) help Aslam to create multiple worksheets with common styles.
He needs to save them with the (xlsb),(xltx),(xls),(xlsm).
Answer:
1. Excel file extensions, using XLS or XLSX, help him to save worksheets.
2. (Files) help Aslam to create multiple worksheets with common styles.
3. He needs to save them with the (xls).
Explanation:
The file extension (also called the filename extension) is the ending of a file that identifies the type of file in an operating system, for example, Microsoft Windows. The filename extension starts with a period, followed by one, two, three, or four characters, especially in Microsoft Windows. The filename extension helps the computer to open the correct program whenever one wants to use the file.
The management accountant for Giada's Book Store has prepared the following income statement for the most current year: Cookbook Travel Book Classics Total Sales $63,000 $179,000 $60,000 $302,000 Cost of goods sold 37,000 70,000 23,000 130,000 Contribution margin 26,000 109,000 37,000 172,000 Order and delivery processing 19,000 26,000 9,000 54,000 Rent (per sq. foot used) 3,000 3,000 3,000 9,000 Allocated corporate costs 10,000 10,000 10,000 30,000 Corporate profit $ (6,000) $70,000 $15,000 $79,000 If the cookbook product line had been discontinued prior to this year, the company would have reported ________. the same amount of corporate profits less corporate profits greater corporate profits resulting profits cannot be determined
Answer:
the company would have reported loss
Operating income is one of the most important items reported by a company. Depending on the decision-making needs of management, operating income can be determined using absorption costing or variable costing. Select whether the following characteristics are most often associated with absorption costing or variable costing.
a. Required under generally accepted accounting principles (GAAP)
b. Often used for internal use in decision making
c. Cost of goods manufactured includes only variable manufacturing costs
d. Used in reports prepared for external users
e. Fixed factory overhead costs are not part of cost of goods manufactured
f. Both fixed and variable factory costs are included in cost of goods sold and inventory
Answer:
Determining Operating Income using Absorption Costing or Variable Costing
a. Absorption costing
b. Variable costing
c. Variable costing
d. Absorption costing
e. Variable costing
f. Absorption costing
Explanation:
Absorption costing is also regarded as full costing. An income statement prepared using absorption costing includes both fixed and variable manufacturing costs in the costs of goods sold and ending inventory. Fixed manufacturing cost is not regarded as period cost that must be expensed in the period when it is incurred as some elements of the fixed cost are carried forward to the next accounting period through the ending inventory. This is unlike variable or marginal costing, where the fixed costs are expensed in the period they are incurred.
Replenishing the Petty Cash Fund
illustration: On March 15 Zhu Ltd's petty cash custodian
requests a check for NT$2,610. The fund contains NT$390
cash and petty cash receipts for postage NT$1,320, freight-out
NT$1,140, and miscellaneous expenses NT$150. The journal
entry is:
Answer:
Explanation:
Postage expense. 1320
freight out. 1140
miscellaneous exp. 150
Cash. 2610
to replenish petty cash account
note that pettty cash is only debited or credited when you are increasing Or decreasing the petty cash fund. This entry appears to be only replenishing the petty cash account.