two obstacles you may face in your attempt to achieve your goals

Answers

Answer 1

Answer: Perfectionism, Expectations, Distrations, etc.

Explanation:

Answer 2

An act of Procrastinating and viewing of mistakes as failure are obstacles one might face in your attempt to achieve goals.

What is a goals?

A goals refers to a predetermined aim that an entity or group plans to to achieve in a set period of time.

However, some obstacles that one might face in an attempt to achieve your goals includes:

Procrastination: This obstacle delays the act of carrying out an action.Viewing mistakes as failure: This makes people to fear making mistake whereas they should stand as stepping stone for success.

Read more about goals

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Related Questions

Eastwood Enterprises offers horseback riding lessons. During the month of June, the company provides lessons on account totaling $5,100. By the end of the month, the company received on account $4,500 of this amount. In addition, Eastwood received $500 on account from customers who were provided lessons in May. Determine the amount of operating cash flows Eastwood will report as received from customers in June.

Answers

Answer:

$5,000

Explanation:

Calculation to Determine the amount of operating cash flows Eastwood will report as received from customers in June.

Using this formula

Operating cash flows=Receipts for lessons in June+Receipts for lessons in May

Let plug in the formula

Operating cash flows=$4,500+$500

Operating cash flows=$5,000

Therefore the amount of operating cash flows Eastwood will report as received from customers in June is $5,000

Polson Pool Company is involved in a number of competitive bidding situations. The following costs are anticipated for a project to be bid for Terrance Manufacturing:
Direct material $ 680,000
Direct labor 2,450,000
Allocated variable overhead 570,000
Allocated fixed cost 230,000
Which of these costs would be treated differently if Polson had either excess capacity or no excess capacity?
a. Allocated variable overhead, $570,000
b. Direct labor, $2,450,000
c. Allocated fixed cost, $230,000
d. Direct materials used, $680,000.

Answers

Answer: c. Allocated fixed cost, $230,000

Explanation:

The Allocated fixed cost is fixed based on a certain level of production. If Polson had excess capacity to produce more goods or no excess capacity, the allocated fixed costs would have to be treated differently to account for this.

The variable costs however would not have to change because they are already based on the quantity of goods produced so even if there is excess or no excess capacity, their cost per unit would not change.

management must be applied according to the needs of the organization. This implies that management is .....​

Answers

Answer:

Explanation:

Management is the coordination and management of tasks to achieve a goal. Such management activities include setting the organization's strategy and coordinating employees' efforts to achieve these goals using available resources. Management can also refer to the seniority structure of employees in the organization.

Sales promotions that provide consumers an incentive to buy a product, such as a cents-off coupons or a discount, are widely used, especially for the type of products we buy in the grocery store. For the company offering the discounts and coupons, one of the risks with such a strategy is that _______________.it is challenging to track usage of the couponsit will not provide a believable messageretailers are typically not interested in helping out with such campaignsconsumers who typically buy other brands will switch to the promoted brandit might only appeal to already loyal customers who stockpile the product when it is on sale for later consumption

Answers

Answer:

it is challenging to track usage of the coupons

Explanation:

Coupons are defined as an instrument that is used to obtain a discount or rebate when making a purchase.

Stores usually give out coupons to customers as an incentive to by products.

However there will be challenge of tracking the coupons as well as the discount on each coupon.

Coupons are given at different discount rates at different times, so it is cumbersome to track a particular coupon out of the many issued when customer wants to redeem it

Jensen Automotive produces alternators for American-made cars. They generally use a static budget with the following costs based on 8,000 units per month: indirect materials, $22,000; indirect labor, $25,000; utilities, $12,000; supervision, $4,000; depreciation, $18,000. If Jensen wanted to create a flexible budget for 9,000 units, what value would they record for variable costs

Answers

Answer:

the value that should be recorded for variable cost is $66,375

Explanation:

The computation of the value that should be recorded for variable cost is shown below:

= Total variable cost ÷ budgeted units × flexible budget units

= ($22,000 + $25,000 + $12,000) ÷ 8,000 units × 9,000 units

= $59,000 ÷ 8,000 units × 9,000 units

= $66,375

hence, the value that should be recorded for variable cost is $66,375

The above formula is used

Russell Retail Group begins the year with inventory of $65,000 and ends the year with inventory of $55,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 $ 220,000 Purchase on May 6 140,000 Purchase on September 8 170,000 Purchase on December 4 420,000 Required: Calculate cost of goods sold for the year.

Answers

Answer:

COGS= $960,000

Explanation:

Giving the following information:

Beginning inventroy= $65,000

Ending inventory= $55,000

Total Purchase=  220,000 + 140,000 + 170,000+ 420,000= $950,000

To calculate the cost of goods sold, we need to use the following formula:

COGS= beginning inventory + cost of goods purchased - ending inventory

COGS= 65,000 + 950,000 - 55,000

COGS= $960,000

What do Media Salespeople do?
A. They sell space at sport events.
B. They sell advertising space to different companies.
C. They sell-media related products online.
D. They sell websites to media companies.

Answers

Answer:

correct answer is B-they sell advertisement space to different companies

Explanation:

According to the standard cost card, each helmet should require 0.52 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,400 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance?

Answers

Answer:

Please find the complete question in the attached file and its solution can be defined as follows:

Explanation:

The standard kgs permitted[tex]= 3100 \times 0.62 = 1922[/tex]

Current production Standard cost permitted [tex]=1922\times 7= 13454[/tex]

Variance of materials for expenditure [tex]= 13708-13454= 254 \ \ \ U[/tex]

Outlined various of materials [tex]= 13708-(2077\times 7)= 831 \ \ \ F[/tex]

Variability of additional channel [tex]= 7\times (2077-1922)= 1085\ \ \ U[/tex]

Kim works for a clothing manufacturer as a dress designer. During 2020, she travels to New York City to attend five days of fashion shows and then spends three days sightseeing. Her expenses are as follows:

Airfare $1,800
Lodging (8 nights) 2,340
Meals (8 days) 2,160
Airport transportation 115

Assume lodging/meals are the same amount for the business and personal portion of the trip ($293 per day for lodging and $270 per day for meals).

Required:
a. Presuming no reimbursement, how much can kim deduct as to the trip?
b. Would the tax treatment of Kim's deduction differ if she was an independent contractor (rather than an employee)? Explain.

Answers

Answer: See explanation

Explanation:

a. Presuming no reimbursement, how much can kim deduct as to the trip?

Airfare = $1,800

Add: Lodging = $2340 × 5/8 = $1462.50

Add: Meals = $2160 × 5/8 × 50% = $675

Add: Airport transportation = $115

Total deduction = $4052.50

b. Would the tax treatment of Kim's deduction differ if she was an independent contractor (rather than an employee)? Explain

The tax treatment of Kim's deduction if she was an independent contractor will be:

Airfare = $1,800

Add: Lodging = $2340 × 5/8 = $1462.50

Add: Meals = $2160 × 5/8 × 50% = $675

Add: Airport transportation = $115

Total deduction = $4052.50

Therefore, the tax treatment of Kim's deduction still remains the same.

g Travis and Jeff own an adventure company called Whitewater Rafting. Due to quality and availability problems, the two entrepreneurs have decided to produce their own rubber rafts. The initial investment in plant and equipment is estimated to be $2,000. Labor and material cost is approximately $5 per raft. Of the rafts can be sold at a price of $10 each, what volume of demand would be necessary to break even

Answers

Answer: Travis Scott?

The CEO is considering your recommendations, and it will take time to make some of these changes. However, you know that it's not just the structure of the department that is stifling creativity. You believe that the culture could be significantly improved, and you want to start working on these issues ASAP. It will be a slow process to make some of these changes, but the time to get started is now. You have a lot of ideas, but only a few should be implemented initially. Which three do you think should be started immediately

Answers

Explanation:

1- Hire an organizational consultancy specialized in diagnostics and solutions to improve the organizational culture, as an external view can be beneficial to perceive the organization free of bias.

2- Planning of the teams' routine and better redesign and definition of the functions of each employee, seeking greater integration and personal satisfaction with the work, which increases productivity and the valorization of the work.

3- Implementing changes in the way of communicating with the teams and providing feedback, clear and objective communication is essential for there to be a correct understanding of what is expected of each team and how to carry out the tasks to achieve the organizational objectives and goals.

On January 5, Barnaby, Inc., purchased a patent costing $100,000 with a useful life of 20 years. The company records its adjusting entries at the end of each year on December 31.
Complete the necessary adjusting entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.

Answers

Answer and Explanation:

The adjusting entries are shown below

On Jan 1

Patent Dr $100,000

      To Cash $100,000

(Being patent purchased on cash is recorded)

Here patent is debited as it increased the assets and credited the cash as it decreased the assets

On Dec 31

Amortization expense - Patent ($100,000 ÷ 20 years) $5,000

           To Accumulated amortization - Patent $5,000

(being amortization expense is recorded)

Here amortization expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets

A wedding party hired a sole proprietorship to cater their wedding, and the sole proprietorship had an employee handle the entire job. If the entire wedding party gets food poisoning, the principal is liable. The employee of the sole proprietorship is also liable because he handled the entire job.

pls dont spam me need halp

Answers

Answer:

yes because he was put in charge of the whole operation

If you could start your own business, WHAT type of business would you start and WHY? Be sure your idea is a business and not a charity (animal shelter, helping homeless, etc.) The goal of your business should be to make a profit. Please answer in 3-4 sentences. "Henry Ford wanted to produce cars more efficiently; Oprah Winfrey wanted to help people make their lives better; Steve Jobs wanted to provide customers with user- friendly personal computers and new entertainment ideas." I А.​

Answers

Hello hello hey miss miss you you can call me if 44677533345

Using the attached sheet (or a spreadsheet if you prefer), prepare a classified balance sheet for the ABC, LLC for the year ended December 31, 2020 using the following data.
Accounts Payable 4,000
Accounts Receivable 3,000
Cash 20,000
Common Stock 1,000
Land 25,000
Notes Payable (due in 5 years) 10,000
Paid in Capital in Excess of Par - Common Stock 17,000
Paid in Capital in Excess of Par - Preferred Stock 2,000
Preferred Stock 8,000
Retained Earnings 7,000
Salaries Payable 5,000
Treasury Stock 6,000

Answers

Answer:

ABC, LLC

Classified balance sheet as at December 31, 2020

                                                                                              $

ASSETS

Non - Current Assets

Land                                                                                 25,000

Total Non - Current Assets                                             25,000

Current Assets

Accounts Receivable                                                        3,000

Cash                                                                                 20,000

Total Current Assets                                                       23,000

TOTAL ASSETS                                                               48,000

EQUITY AND LIABILITIES

LIABILITIES

Non - Current Liabilities

Notes Payable (due in 5 years)                                      10,000

Total Non - Current Liabilities                                        10,000

Current Liabilities

Accounts Payable                                                            4,000

Salaries Payable                                                              5,000

Total Current Liabilities                                                   9,000

TOTAL LIABILITIES                                                         19000

EQUITY

Common Stock                                                                1,000

Preferred Stock                                                               8,000

Treasury Stock                                                                6,000

Retained Earnings                                                          7,000

Paid in Capital in Excess of Par - Common Stock       17,000

Paid in Capital in Excess of Par - Preferred Stock       2,000

TOTAL EQUITY                                                              41,000

TOTAL EQUITY AND LIABILITIES                                60,000  

Explanation:

A classified balance sheet shows the Assets, Liability and Equity Balances in their respective categories as shown above.

You have your choice of two investment accounts. Investment A is a 6-year annuity that features end-of-month $1,980 payments and has an interest rate of 7 percent compounded monthly. Investment B is an annually compounded lump-sum investment with an interest rate of 9 percent, also good for 6 years.
How much money would you need to invest in B today for it to be worth as much as Investment A 6 years from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answers

Answer:

$112,166

Explanation:

the future value of Investment A:

payment = $1,980

n = 6 x 12 = 72

i = 9% / 12 = 0.75%

FVIFA = [(1 + i)ⁿ- 1 ] / i = [(1 + 0.0075)⁷² - 1 ] / 0.0075 = 95.007

future value = $1,980 x 95.007 = $188,114

now we need to determine the PV of investment B:

PV = $188,114 / (1 + 9%)⁶ = $112,166

Answer: $105,264.24

Explanation:

Step 1) Calculate Future Value of Investment A

Rate: .07/12 = .58%

Payment: $1,980

Term: 72 (6 years * 12 months)

Future Value: ?

In excel -> FV(.58,72,-1980,0)

Future Value = $176,538.67

Step 2) Calculate Present Value of Investment B using Investment A Future Value

Rate: .09

Payment: $0

Term: 6

Future Value: $176,538.67 (from step 1)

PV(.09,6,0,-176538.67)

Present Value = $105,264.24

Thats your answer!! ^^^^^

You can also use the formula or calculator, but I've found excel is the easiest/fastest.

Cheers!

Diamond Company manufactures two models of cassette recorders: VCH and MTV. Based on the following production data for April, prepare a production budget.

VCH MTV
Estimated inventory (units), April 1 2,900 4,000
Desired inventory (units), April 30 6,900 5,250
Expected sales volume (units):
Eastern zone 12,500 12,960
Midwest zone 19,000 19,800
Western zone 14,500 9,840

Answers

Answer and Explanation:

The preparation of the production budget is presented below:

Particulars             VCH                  MTV

Expected Sales:  

Eastern zone        12500            12960

Midwest zone       19000           19800

Western zone          14500        9840

Add: Desired inventory 6900 5250

Less: Opening inventory (2900) (4000)

Production in units  50,000 43,850

Lumpkin Company sells lamps and other lighting fixtures. The purchasing department manager prepared the following inventory purchases budget. Lumpkin’s policy is to maintain an ending inventory balance equal to 10 percent of the following month’s cost of goods sold. April’s budgeted cost of goods sold is $40,000. Required Complete the inventory purchases budget by filling in the missing amounts.

Answers

Answer:

February.

Desired ending inventory = 10% of March Cost of goods(COGS):

= 10% * 35,000

= $3,500

Inventory needed = COGS + ending inventory

= 32,000 + 3,500

= $35,500

Beginning inventory = January ending inventory = $3,200

Required Purchases = Inventory needed - Beginning inventory

= 35,500 - 3,200

= $32,300

March

Desired ending inventory = 10% of April COGS:

= 10% * 40,000

= $4,000

Inventory needed:

= 35,000 + 4,000

= $39,000

Beginning inventory = February ending inventory = $3,500

Required purchases:

= 39,000 - 3,500

= $35,500

On June 30, 2018, Streeter Company reported the following account balances:
Receivables $ 83,900 Current liabilities $ (12,900 )
Inventory 70,250 Long-term liabilities (54,250 )
Buildings (net) 78,900 Common stock (90,000 )
Equipment (net) 24,100 Retained earnings (100,000 )
Total assets $ 257,150 Total liabilities and equities $ (257,150 )
On June 30, 2021, Princeton Company paid $316,500 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition, Princeton paid $12,700 in legal fees. Princeton also agreed to pay $63,800 to the former owners of Streeter contingent on meeting certain revenue goals during 2022. Princeton estimated the present value of its probability adjusted expected payment for the contingency at $20,100.
In determining its offer, Princeton noted the following pertaining to Streeter:
It holds a building with a fair value $43,100 more than its book value.
It has developed a customer list appraised at $25,200, although it is not recorded in its financial records.
It has research and development activity in process with an appraised fair value of $36,400. However, the project has not yet reached technological feasibility and the assets used in the activity have no alternative future use.
Book values for the receivables, inventory, equipment, and liabilities approximate fair values.
Prepare Princeton’s accounting entry to record the combination with Streeter. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
1. First Entry Record the acquisition of Streeter company.
2. Second Entry Record the legal fees related to the combination.

Answers

Answer:

1. Dr Receivables $ 83,900

Dr Inventory $70,250

Dr Building (net) $122,000

Dr Equipment (net) $24,100

Dr Customer list $25,200

Dr Capitalized R&D $36,400

Dr Goodwill $41,900

Cr Current liabilities $12,900

Cr Long-term liabilities $54,250

Cr Contingent obligation performance $20,100

Cr Acquisition cost $316,500

2. Dr Combination expense (Legal fees) $12,700

Cr Cash $12,700

Explanation:

1. Preparation of the First Entry to Record the acquisition of Streeter company.

First step is to calculate Goodwill on Acquisition

Acquisition cost $316,500

Add Contingent obligation performance $20,100

Total Acquisition cost $336,600

Less Fair value of Streeter company:

Receivables $ 83,900

Inventory $70,250

Building (net) $122,000

($78,900+$43,100)

Equipment (net) $24,100

Customer list $25,200

Capitalized R&D $36,400

Current liabilities ($12,900 )

Long-term liabilities ($54,250 ) ($294,700)

Goodwill $41,900

($336,600-$294,700)

Now let prepare the First Entry to Record the acquisition of Streeter company.

Dr Receivables $ 83,900

Dr Inventory $70,250

Dr Building (net) $122,000

($78,900+$43,100)

Dr Equipment (net) $24,100

Dr Customer list $25,200

Dr Capitalized R&D $36,400

Dr Goodwill $41,900

Cr Current liabilities $12,900

Cr Long-term liabilities $54,250

Cr Contingent obligation performance $20,100

Cr Acquisition cost $316,500

(To record acquisition of Streeter Company)

2. Preparation of the Second Entry to Record the legal fees related to the combination

Dr Combination expense (Legal fees) $12,700

Cr Cash $12,700

(To record payment of Legal fees)

Calculate the contribution to total performance from currency, country, and stock selection for the manager in the example below. All exchange rates are expressed as units of foreign currency that can be purchased with 1 U.S. dollar. (Do not round intermediate calculations. Round your answers to 2 decimal places. Input all amounts as positive values.) EAFE Weight Return on Equity Index E1/E0 Manager's Weight Manager's Return Europe 0.6 15 % 1 0.6 12 % Australasia 0.3 16 1.4 0.1 17 Far East 0.1 20 1.2 0.3 17

Answers

Answer:

A. Currency selection 4% loss relative to EAFE

B. Country Selection 1.80% loss relative to EAFE

C. Stock Selection -2.6%loss relative to EAFE

Explanation:

Calculation to determine the contribution to total performance from currency, country, and stock selection for the manager in the

A. Calculation for CURRENCY SELECTION

Using this formula

EAFE / Manager weight * Currency appreciation ( E1 / E0 - 1 )

Let plug in the formula

EAFE =[ 0.6 * ( 1 - 1 ) ] + [ 0.3 * ( 1.4 - 1 ) ] + [ 0.1 * ( 1.2- 1 ) ]

EAFE= 0+0.12+0.02

EAFE=14%

Manager =[ 0.6 * ( 1- 1 ) ] + [ 0.1 * ( 1.4 - 1 ) ] + [ 0.3 * ( 1.2- 1 ) ]

Manager=0+0.04+0.06

Manager=10%

Loss relative to EAFE=(10%-14%)

Loss relative to EAFE=4%

4% loss relative to EAFE

B. Calculation for COUNTRY SELECTION

Using this formula

EAFE/ Manager weight × Return on Equity Index

Let plug in the formula

EAFE = [ 0.6 * 15% + 0.3 * 16% + 0.1* 20% ]

EAFE = 0.09+0.048+0.02

EAFE = 15.8%

Manager = [ 0.6 * 12% + 0.1 * 17% + 0.3 * 17% ] Manager =0.072+0.017+0.051

Manager =14%

Loss relative to EAFE=15.8%-14%

Loss relative to EAFE=1.80%

1.80% loss relative to EAFE

C. Calculation for STOCK SELECTION

Using this formula

Stock Selection=( Manager’s return - Return on Equity Index ) × Manager weight

Let plug in the formula

Stock Selection=[ ( 12% - 15% ) * 0.6 ] + [ ( 17% - 16% ) * 0.1 ] + [ ( 17% - 20% ) * 0.3 ]

Stock Selection=-0.018+0.001+-0.009

Stock Selection=-2.6%

-2.6% loss relative to EAFE

You are the manager of a firm that sells a leading brand of alkaline batteries. Click on the link below to access data on the demand for your product. Specifically, the file contains data on the natural logarithm of your quantity sold, price, and the average income of consumers in various regions around the world. Use the information provided in the excel spreadsheet to perform a log-linear regression. Excel Data File Fill in your estimates below:
Instruction:
Enter a negative number if the coefficient estimate is negative, and round your response to two decimal places.
lnQ=C ____ + _____ InP+ _____ InM
Determine the likely impact of a 3 percent decline in global income on the overall demand of your product.
a. Demand will decline by approximately 0.1%, but since income elasticity isn't significantly different from zero, it likely won't fall at all.
b. Demand will fall by nearly 10%, and income elasticity is significantly less than zero.
c. Demand will fall by nearly 1%, and income elasticity is significantly less than zero.
d. Demand will decline by approximately 3%, but since income elasticity isn't significantly different from zero, it likely won't fall at all.

Answers

Answer:

lnQ=C 1.29 + -0.07 lnP + -0.03 lnM

c. Demand will fall by nearly 1% and income elasticity is significantly less than zero.

Explanation:

Income elasticity is a major factor which impact the demand of a product. It measures the change in quantity demanded due to change in income. In the given scenario the demand for product will decline due to change in income. The income elasticity is smaller there will not be major change in demand but there will be some impact observed on the quantity demanded.

What is a factor that does NOT go into an economic analysis?

1. marginal analysis

2. societal concerns

3 ethical concerns

4 sunk costs​

Answers

sunk cost! :)) so number 4

Essence of Skunk Fragrances, Ltd., sells 5,750 units of its perfume collection each year at a price per unit of $445. All sales are on credit with terms of 1/10, net 40. The discount is taken by 35 percent of the customers.

Required:
What is the amount of the company's accounts receivable?

Answers

Answer:

The amount of the company's accounts receivable is $2,558,750.

Explanation:

Accounts Receivables are amounts owed to the company. They are measured at amounts that the company expects to be entitled to after a sale.

The sale journal is :

Debit : Accounts Receivables (5,750 units x $445) $2,558,750

Credit : Sales Revenue (5,750 units x $445)  $2,558,750

ZIP Company owns 46,000 shares of the common stock of PIK Company. ZIP decided to divest itself of this investment by distributing the PIK shares in the form of a property dividend. The dividend ratio is one share of PIK for every four shares of ZIP common held by shareholders. ZIP has 184,000 common shares outstanding. On April 15, 2016, the date of declaration, PIK stock had a par value of $5 per share, a book value of $12.6 per share, and a market value of $17.6 per share.
Required:
1. Prepare any necessary journal entries. The shares were distributed on May 15, 2016, to stockholders of record on May 1, 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
2. Record appreciation of investment.
3. Record declaration of property dividend.
4. Record the entry on date of record.
5. Record the payment of the property dividend.

Answers

Answer and Explanation:

The journal entries are shown below:

2  On April 15,2016

Investment in PK common stock Dr (46,000 × ($17.6 - $12.6)) $230,000

       To Gain on investment $230,000

(Being appreciation of investment is recorded)

3.  On April 15,2016

Retained earnings Dr (184,000  ÷ 4 × $17.6) $809,600

     To Property dividend payable $809,600

(Being declaration of property dividend)

4. No journal entry is required for date of record

5. Property dividend payable Dr  $809,600

         To Investment in PK common stock $809,600

(Being the  payment of the property dividend is recorded)

Baiman, Inc. issues $1,000,000 of zero-coupon bonds that mature in 10 years. Compute the bond issue price assuming that the bonds' market rate is:

a. 10% per year compounded semiannually.
Round your answers to the nearest dollar.

Answers

Answer:

Zero-cupon bond= $376,889.48

Explanation:

Giving the following formula:

Face value= $1,000,000

Mature= 10*2= 20 semesters

Market rate= 0.1/2= 0.05

To calculate the price of the bond, we need to use the following formula:

Zero-cupon bond= [face value/(1+i)^n]

Zero-cupon bond= [1,000,000 / (1.05^20)]

Zero-cupon bond= $376,889.48

On January 1, 2018, Alamar Corporation acquired a 39 percent interest in Burks, Inc., for $228,000. On that date, Burks's balance sheet disclosed net assets with both a fair and book value of $327,000. During 2018, Burks reported net income of $79,000 and declared and paid cash dividends of $29,000. Alamar sold inventory costing $26,000 to Burks during 2018 for $42,000. Burks used all of this merchandise in its operations during 2018. Prepare all of Alamar's 2018 journal entries to apply the equity method to this investment.

Answers

Answer:

Date                    Account Title                                         Debit               Credit

Jan 1, 2018         Investment in Burks, Inc                    $228,000

                          Cash                                                                         $228,000

Date                    Account Title                                         Debit               Credit

Dec. 31, 2018     Investment in Burks, Inc                     $30,180

                          Revenue from investment                                          $30,180

Working:

= Net income of Burks * Ownership percentage

= 79,000 * 39%

= $30,180

Date                    Account Title                                         Debit               Credit

Dec. 31, 2018     Dividend receivable                          $11,310

                           Investment in Burks, Inc                                              $11,310

Working

= Dividends declared * Ownership percentage

= 29,000 * 39%

= $11,310

Date                    Account Title                                         Debit               Credit

Jan 1, 2018         Cash                                                    $11,310

                          Dividend Receivable                                                   $11,310

Mongar Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below:

Original Budget Actual Costs
Variable overhead costs:
Supplies $7,980 $8,230
Indirect labor 29,820 29,610
Total variable manufacturing overhead cost $37,800 $37,840

The original budget was based on 4,200 machine-hours. The company actually worked 4,350 machine-hours during the month and the standard hours allowed for the actual output were 4,190 machine-hours. What was the overall variable overhead efficiency variance for the month?

a. $130 Unfavorable
b. $950 Favorable
c. $1,440 Unfavorable
d. $1,310 Favorable

Answers

Answer:

c. $1,440 Unfavorable

Explanation:

Variable overhead efficiency variance = (Standard hours - Actual working hours) * Standard Rate

Variable overhead efficiency variance = ($4,190 hours - $4,350 hours)*($37,800/4,200 hours)

Variable overhead efficiency variance = ($4,190 hours - $4,350 hours)*$9 per hour

Variable overhead efficiency variance = 160 hours*$9 per hour

Variable overhead efficiency variance = $1,440 Unfavorable

1. A part is produced in lots of 1,000 units. It is assembled from two components worth $50 total. The value added in production (for labor and variable overhead) is $60 per unit, bringing total costs per completed unit to $110. The average lead time for the part is 6 weeks and annual demand is 3,800 units, based on 50 business weeks per year. a. How many units of the part are held, on average, in cycle inventory

Answers

Answer:

A. Average cycle inventory 500 units

Value of cycle inventory $55,000

B. Average pipeline inventory 456 units

Value of the pipeline inventory $36,480

Explanation:

a. Calculation to determine How many units of the part are held, on average, in cycle inventory

Calculation for Average cycle inventory

Average cycle inventory=1000/2

Average cycle inventory=500 units

Therefore the Average cycle inventory is 500 units

Calculation for Value of cycle inventory

Value of cycle inventory=(500 units) *($50+$60)

Value of cycle inventory=(500 units*$110)

Value of cycle inventory=$55,000

Therefore the Value of cycle inventory is $55,000

b. Calculation to determine Avarage Pipeline inventory and Value of the pipeline inventory

First step is to calculate the unit cost using this formula

Unit cost = Material + 50%of labor and variable overhead

Let plug in the formula

Unit cost=$50+(50%*$60)

Unit cost= $50 + $30

Unit cost= $80

Now let calculate the Average pipeline inventory

Average pipeline inventory = = [(3800 units/year)/(50wks/yr)] x (6 weeks)

Average pipeline inventory= 456 units

Therefore Average pipeline inventory is 456 units

Calculation to determine Value of the pipeline inventory

Value of the pipeline inventory = (456 units) x ($50+$30)

Value of the pipeline inventory=456 units×$80

Value of the pipeline inventory= $36,480

Therefore the Value of the pipeline inventory is $36,480

Contribution Income Statement and Cost-Volume-Profit Graph Picnic Time produces a picnic basket that is sold for $100 per unit. Assume the company produced and sold 4,000 baskets during July. There were no beginning or ending inventories. Variable and fixed costs follow. Variable Costs per Unit Fixed Costs per Month Manufacturing: Manufacturing overhead $36,000 Direct materials $25 Selling and administrative 68,000 Direct labor 15 Total $104,000 Manufacturing overhead 5 $45 Selling and administrative 4 Total $49
Required
Prepare a contribution income statement for July.
Do not use any negative signs with your answers.
Picnic Time
Contribution Income Statement
For the Month of July
Sales Answer
Less variable costs
Direct materials Answer
Direct labor Answer
Manufacturing overhead Answer
Selling and administrative Answer Answer
Contribution margin Answer
Less fixed cost:
Manufacturing overhead Answer
Selling and administrative Answer Answer
Profit Answer

Answers

Answer:

Graph Picnic Time

Contribution Income Statement

For the Month of July

Sales                                               $400,000

Less variable costs:

Direct materials                              $100,000

Direct labor                                        60,000

Manufacturing overhead                  20,000

Selling and administrative                 16,000

Total variable costs                       $196,000

Contribution margin                     $204,000

Less fixed cost:

Manufacturing overhead $36,000

Selling and administrative 68,000

Total fixed costs                            $104,000

Profit                                              $100,000

Explanation:

a) Data and Calculations:

Selling price per picnic basket = $100

July Production and sales = 4,000 baskets

Variable Costs per Unit:

Manufacturing:

Direct materials              $25

Direct labor                        15  

Manufacturing overhead   5

Total                               $45

Selling and administrative 4

Total                               $49

Fixed Costs per Month

Manufacturing overhead $36,000

Selling and administrative  68,000

Total                                 $104,000

Contribution Income Statement

For the Month of July

Sales                                               $400,000 ($100 * 4,000)

Less variable costs:

Direct materials                              $100,000 ($24 * 4,000)

Direct labor                                        60,000 ($15 * 4,000)

Manufacturing overhead                  20,000 ($5 * 4,000)

Selling and administrative                 16,000($4 * 4,000)

Total variable costs                       $196,000

Contribution margin                     $204,000

Less fixed cost:

Manufacturing overhead $36,000

Selling and administrative 68,000

Total fixed costs                            $104,000

Profit                                              $100,000

An economy is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs: a. A stock market boom increases the value of stocks held by households. b. Firms come to believe that a recession is likely in the near future. c. Anticipating the possibility of war, the government increases its purchases of military equipment. d. The quantity of money in the economy declines, and interest rates increase.

Answers

Answer:

Following are the solution to these question:

Explanation:

In point a:

The population feels wealthier and seems to be socially secure. This will boost consumption, moving AD to the correct. There is a difference in deflation. Govt must adopt a discretionary monetary policy to fight deflation, that will change AD left.

In point b:

Expenditure has been decreased to increasing jobs or costs. Disinflationary distance exists. To improve DA (shift rectors) and restore full job production, Govt must pursue the expansionary monetary policy.

In point c:

It will once again raise NPA because part A contributes to even more competition with higher public expenditure. The deflation divide is that there is. That alternative is an expansionary tax reform to move to the left.

In point d:

The rise in interest rates declines expenditure and, as part B, reduces AD. The deflationary difference remains. Government must use expansionary monetary policy to fight it, moving AD to a correct.

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