Answer:
VPI CO
Statement of Cash flows
For the Current year ended December 31
Cash flow from Operating activities
Net Income $23,000
Adjustments to reconcile net income to
net cash provided by operating activities
Depreciation Expense $4,000
Gain on sale of Machinery $(2,000)
Changes in Current Operating assets and liabilities
Decrease in Accounts Receivable $3,000
Increase in Inventory $(5,000)
Increase in Accounts Payable $1,500
Net cash Provided by operating activities $24,500
Cash flows from Investing Activities
Cash Received from Sale of Machinery $9,500
Net cash Provided by Investing activities $9,500
Cash flows from financing Activities
Cash Received from Issuing Stock $8,000
Cash Paid for Dividend $(1,000)
Net cash Provided by financing activities $7,000
Net increase in Cash $41,000
Cash Balance at Prior Year-end $40,000
Cash Balance at Current Year-end $81,000
Chelsea, Inc. uses the job costing method and uses direct labor hours as the allocation base. In 2016, the company estimated that they would incur 250,000 direct labor hours and total overhead costs of $2,500,000. Actual overhead costs for Job 3489 were $275,000 and actual direct labor hours were 28,000. Which of the following represents the MOH allocated to Job 3489?
a. Predetermined MOH rate= total estimated manufacturing overhead costs/ total estimated amount of the allocation base
b. $250,000/ 25,000 DLH= $10
c. MOH allocated to job= predetermined MOH rate * actual amount of allocation base used by the job
d. $10 * 28,000 DLH= $280,000
Answer:
Allocated MOH= 10*28,000
Explanation:
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= 2,500,000 / 250,000
Predetermined manufacturing overhead rate= $10 per direct labor hour
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 10*28,000
Allocated MOH= $280,000
When converting net income to net cash provided (used) by operating activities under the indirect method increases in accounts receivable and increases in accrued liabilities are deducted. decreases in accounts payable and decreases in inventory are deducted. decreases in accounts receivable and increases in prepaid expenses are added. decreases in inventory and increases in accrued liabilities are added.
Answer:
Decrease in inventory and increases in accrued liabilities are added.
Explanation:
Cost of Normal Spoilage
Frieling Company installs granite countertops in customers' homes. First, the customer chooses the particular granite slab, and then Frieling measures the countertop area at the customer's home, cuts the granite to that shape, and installs it. The Tramel job calls for direct materials of $1,900 and direct labor of $500. Overhead is applied at the rate of 140 percent of direct labor cost. Unfortunately, one small countertop breaks during installation and Frieling must cut another piece and install it to properly complete the job. The additional rework required direct materials costing $400 and direct labor costing $100. Assume that the spoilage was due to carelessness by a Frieling worker and it is considered to be normal spoilage.
Required:
1. Calculate the cost of the Tramel job.
2. Make any needed journal entry to the overhead control account.
3. What if the additional rework required $200 of direct labor? What would be the effect on the cost of the Tramel job?
Answer:
See below
Explanation:
1. Cost of the Tramel Job
= Direct material cost + Direct labor cost + Overhead applied
= $1,900 + $500 + (140% × $500)
= $1,900 + $500 + $700
= $3,100
2. Journal entry to record the overhead cost
Overhead cost account Dr $500
To Material account Cr $400
To Labor account Cr $100
3. Effect of additional rework required $200 of direct labor on the cost of Tramel job
= Direct material cost + Direct labor cost + Overhead applied
= $1,900 + ($500 + $200) + (140% × $500)
= $1,900 + $700 + $700
= $3,300
The effect of additional rework required of $200 of direct labor cost is an increase of $200 on the cost of job for Tramel
Bluegill Company sells 7,200 units at $260 per unit. Fixed costs are $93,600 and income from operations is $842,400. Determine the following: Round the contribution margin ratio to two decimal places. a. Variable cost per unit $fill in the blank 1 b. Unit contribution margin $fill in the blank 2 per unit c. Contribution margin ratio fill in the blank 3 %
Answer:
Variable cost per unit = $130
Contribution margin per unit = $130
Contribution margin ratio = 50%
Explanation:
According to the scenario, computation of the given data are as follows,
Contribution margin per unit = (Fixed cost + Operations income) ÷ Total units
= ($93,600 + $842,400) ÷ 7,200
= $936,000 ÷ 7,200
= $130
Variable cost per unit = Sale price per unit - Contribution margin per unit
= $260 - $130
= $130
Contribution margin ratio = Contribution margin per unit ÷ Sale price per unit
= 130 ÷ 260
= 50%
Pankraz Corporation, a calendar year taxpayer, is formed on April 1, 2020. In connection with its formation, it incurs organizational expenditures of $54,000. Pankraz wants to claim as much of these expenses as soon as possible. Round per month amount to two decimal places. Round your final answer to the nearest dollar. Therefore, its deduction for 2020 is $fill in the blank 1
Answer:
$3,650
Explanation:
Calculation to determine its deduction i
First step is to calculate the Expense
Expense=$5,000 - ($54,000 - $50,000)
Expense=$5,000-$4,000
Expense= $1,000
Second step is to calculate the Amortization
Amortization= ($54,000 - $1,000)/180 months
Amortization= $294.44 x 9 months
Amortization= $2,649.99
Amortization= $2,650 (Approximately)
Now let calculate the total deduction
Total deduction =$1,000 + $2,650
Total deduction= $3,650
Therefore, its deduction for 2020 is $3,650
Assume that Canada imports more goods and services than it exports. Which of the following is true of the Canadian balance of payments accounts?
(A) The current account balance must be negative.
(B) The current account balance must be positive
(C) The trade balance must be negative.
(D) The financial account (formerly called capital account) balance must be negative
(E) The financial account (formerly called capital account) balance must be positive
Answer:
(C) The trade balance must be negative.
Explanation:
The Balance of trade refers to the net amount payable or receivable
In the case when the net amount is receivable so the balance of trade comes in positive and when the net amount payable is high than the balance of trade is negative.
Now
When the country exports greater than imports so it is a positive balance of Trade and on the other hand When the country imports greater than exports then the balance of trade is negative.
On November 1, Lance Co. borrows $90,000 cash from First Bank by signing a 90-day, 5% interest-bearing note. On December 31, Lance will record an adjusting entry by crediting _______ in the amount of ______. Multiple choice question. Interest Expense; $1,125 Interest Payable; $750 Interest Payable; $1,125 Cash; $750 Cash; $1,125 Interest Expense; $750
Answer:
Interest Payable; $750
Explanation:
Based on the information given On December 31, he will record an adjusting entry by crediting INTEREST PAYABLE in the amount of $750
which is Calculatedd as:
Interest Payable=$90,000*.05*(60/360)
Interest Payable=$750
V Boutique is a fashion house that designs, manufactures, and sells evening gowns. Their lowest-selling design is a vibrant green strapless gown in Dupioni silk. V Boutique is considering lowering the selling price of the gown to stimulate demand. However, before lowering the price, they must evaluate the total costs associated with the gown.
. Fabric and materials - $62/gown
. Labor to construct the gown - $40/gown
. Equipment cost for these gowns (steamer and sewing machines) $3,000
V Boutique anticipates selling 500 gowns after lowering the selling price. Assuming their projection is accurate, what is the total average cost they will incur per gown?
Answer:
V. Boutique
Assuming their projection of 500 gowns is accurate, the total average cost they will incur per gown is:
= $108.
Explanation:
a) Data and Calculations:
Unit variable costs:
Fabric and materials per gown = $62
Labor cost per gown to construct the gown = $40
Total unit variable costs per gown = $102
Unit fixed costs:
Equipment cost = $3,000/500 $6
Total average costs per gown = $108
b) The average cost per gown equals the unit costs (variable costs per unit and the fixed costs per unit). V. Boutique incurs a total equipment cost of $3,000 for the 500 gowns. This means that each gown consumes $6 ($3,000/500) in equipment costs.
Exercise 11-17 Dropping or Retaining a Segment [LO11-2] Bed & Bath, a retailing company, has two departments—Hardware and Linens. The company’s most recent monthly contribution format income statement follows: Department Total Hardware Linens Sales $ 4,000,000 $ 3,000,000 $ 1,000,000 Variable expenses 1,300,000 900,000 400,000 Contribution margin 2,700,000 2,100,000 600,000 Fixed expenses 2,200,000 1,400,000 800,000 Net operating income (loss) $ 500,000 $ 700,000 $ (200,000 ) A study indicates that $340,000 of the fixed expenses being charged to Linens are sunk costs or allocated costs that will continue even if the Linens Department is dropped. In addition, the elimination of the Linens Department will result in a 10% decrease in the sales of the Hardware Department. Required:
Answer:
The financial disadvantage of discontinuing the Linens Department is a decrease of $440,000 in total net operating profit.
Explanation:
Note: The requirement of this question is omitted but it is provided before answering the question to complete question as follows:
Required:
What is the financial advantage (disadvantage) of discontinuing the Linens Department?
The explanation of the answer is now provided as follows:
Note: See the lower part of the attached excel file for Determination of the financial advantage (disadvantage) (in bold red color) of discontinuing the Linens Department.
In the attached excel file, it can be seen that discontinuing the Linens Department makes both its Sales and Variable Cost to be equal to zero while only its Fixed expenses falls from $800,000 to $340,000 which is sunk costs.
Since the elimination of the Linens Department will result in a 10% decrease in the sales of the Hardware Department, the sales of the Hardware Department after eliminating Linens Department is calculated as follows:
Sales of the Hardware Department after eliminating Linens Department = $3,000,000 * (100% - 10%) = $270,000
From the attached excel file, it can be seen that the total net operating income falls from $500,000 to $60,000 after eliminating Linens Department. This implies that the total net operating profit decreases by $440,000 (i.e. $500,000 - $60,000 = $440,000)
Therefore, the financial disadvantage of discontinuing the Linens Department is a decrease of $440,000 in total net operating profit.
Last year, Valley Manufacturing reported sales of $800,000, net operating income of $40,000, and average operating assets of $400,000. The company is considering the purchase of equipment that will reduce expenses by $20,000. The equipment will increase average operating assets by $100,000 and be purchased by issuing a notes payable. Sales will remain unchanged. If Valley accepts the project, its return on investment (ROI) after the purchase is projected to
Answer:increase, 10%, 12%
Explanation:
9. Lobbying for or against trade restrictions Trade restrictions affect the overall welfare of an economy because they change the price consumers pay for a good and the quantity produced and consumed domestically. Trade restrictions, such as tariffs, usually benefit domestic and hurt domestic because they the domestic price of a good. True or False: Producers find it difficult to exert the political influence needed to establish trade restrictions because the benefits to producers are very small and widely dispersed, which makes it difficult for producers to organize. True False
Answer:
Lobbying for or against trade restrictions:
Trade restrictions affect the overall welfare of an economy because they change the price consumers pay for a good and the quantity produced and consumed domestically. Trade restrictions, such as tariffs, usually benefit domestic and hurt domestic because they the domestic price of a good.
True
Producers find it difficult to exert the political influence needed to establish trade restrictions because the benefits to producers are very small and widely dispersed, which makes it difficult for producers to organize.
False
Explanation:
Answer:
1. True
2. False
Explanation:
Hope this helps
Toyota's global success in the 1990s and early 2000s was based to a large extent on a network of world-class suppliers in Japan. This tightly knit network allowed for fast two-way knowledge sharing—this in turn improved Toyota's quality and lowered its cost, which it leveraged into a successful blue ocean strategy at the business level. This example shows the effectiveness of
Answer:
related and supporting industries/complementors.
Explanation:
In the given scenario Toyota effectively leveraged on its related and supporting industries/complementors.
By having a tightly knit network of suppliers in Japan, Toyota developed a fast two-way knowledge sharing—this in turn improved their quality and lowered cost, which it leveraged into a successful blue ocean strategy.
The suppliers complimented their production efforts in such a way that quality improved and cost was lowered
Think about an organizational change that recently affected you. This could be a change at work in which jobs or procedures were changed, or it could be a change at school, such as a change in curriculum requirements or major revisions in registration procedures. How effectively did the organization manage the change? What could the organization have done differently to reduce resistance to the change? Your post should reflect the terms and concepts in Chapter 15.
Explanation:
One good example is the recent change in the way we learn at school (remote learning). For many students, it was the first time they had to receive instructions from a teacher via videoconferencing.
Many organizations tried to adjust to this new normal, however, most organizations were confused about what training to provide, how long to should they plan for, etc.
Reports say that many teachers found it difficult to adapt to this method of teaching, hence, some were resistant to this change. However, if proper enlightenment were carried out, as well as employing some motivational factors, such resistance to change would have been minimal.
Coronado Industries reported revenue of $1650000 in its accrual basis income statement for the year ended June 30, 2021. Additional information was as follows: Accounts receivable June 30, 2020 $405000 Accounts receivable June 30, 2021 521000 Uncollectible accounts written off during the fiscal year 16000 Under the cash basis, Coronado should report revenue of
Answer:
$1,518,000
Explanation:
Prepare a Total Accounts Receivable T Account to determine the revenue received in cash, which is the revenue to be reported under the Cash Basis.
Total Accounts Receivable T Account
Debit :
Beginning Balance $405000
Revenue $1650000
Total $2,055,000
Credit :
Cash (Balancing figure) $1,518,000
Uncollectible accounts written off $16000
Ending Balance $521000
Total $2,055,000
When you begin a new job, you might be assigned to a _____, who will provide much of the new employee training.
mentor
team leader
another new employee
manager
Which of the following statements about using dramatics in a sales presentation is most likely true? Using dramatic demonstrations fails to set a salesperson apart from the majority of other salespeople. A salesperson's own uncertainty about the use of dramatics increases the positive impact on the prospect. A theatrical movie showing the history of the company is an example of dramatization. Dramatics should be incorporated into all sales presentations due to their success rate. Television commercials are a source of ideas for dramatizations.
Answer:
Television commercials are a source of ideas for dramatizations.
Explanation:
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.
Basically, marketing comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.
A sales presentation can be defined as series of talk given by a salesperson with the attempt to persuade someone or a potential customer to buy a particular product, by giving information it. Some salespersons resort to the use of dramatics so as to initiate and close the sale of a particular product by engaging in series of theatrical actions.
Hence, the statement about using dramatics in a sales presentation which is most likely true is that, television commercials are a source of ideas for dramatizations because various actions are performed with the intent to promote the purchase of a product.
Lash Corporation has the following sales budget for the last half of 2000:
May $164,000 June $145,000
July $206,000 August $181,000
September 168,000 October 203,000
November 209,000 December 185,000
Sales are immediately due, however the cash collection of sales, historically, has been as follows: 55% of sales collected in the month of sale, 35% of sales collected in the month following the sale, 7% of sales collected in the second month following the sale, and 3% of sales are uncollectible.
Required:
a. What are the expected cash collections in September?
b. What is acciounts receivable at September 30?
Answer:
a. Expected cash collections in September is $170,170.
b. Accounts receivable at September 30, 2000 is $83,230.
Explanation:
a. What are the expected cash collections in September?
This can be determined as follows:
Lash Corporation
Expected Cash Collections in September 2000
Month of Sales Amount ($)
July (7% * $206,000) 14,420
August (35% * $181,000) 63,350
September (55% * $168,000) 92,400
Total expected cash collections 170,170
b. What is accounts receivable at September 30?
This can be determined as follows:
Lash Corporation
Expected Accounts Receivable at September 30, 2000
Month of Sales Amount ($)
August (7% * $181,000) 12,670
September ((35% + 7%) * $168,000) 70,560
Accounts receivable 83,230
Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow.
Month Number of Units Produced Total Cost
January 4,360 $65,600
February 225 $6,250
March 1,000 $15,000
April 5,475 $111,250
May 1,750 $32,500
June 3,015 $48,000
From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the High-Low Method. Recall that Total Costs = (Variable Cost Per Unit x Units Produced) + Fixed Cost. Complete the following table.
Total Fixed Cost Variable Cost per Unit
Answer and Explanation:
The computation is given below:
As we know that
The Variable cost per unit is
= (Highest activity cost- Lowest activity cost) ÷ (Highest activity units- Lowest activity units)
Particulars Total Cost Units
Highest units 111,250.00 5,475.00
Lowest units 6,250.00 225.00
Difference 105,000.00 5,250.00
Variable cost per unit 20.00
Now
Fixed cost= Highest activity cost- (Highest units × Variable cost per unit)
= $111,250 - (5475 × 20)
= $1,750.00
Green Manufacturing, Inc., plans to announce that it will issue $2 million of perpetual debt and use the proceeds to repurchase common stock. The bonds will sell at par with a coupon rate of 6%. Green is currently an all-equity firm worth $6.3 million with 400,000 shares of common stock outstanding. After the sale of the bonds, Green will maintain the new capital structure indefinitely. Green currently generates annual pretax earnings of $1.5 million. This level of earnings is expected to remain constant in perpetuity. Green is subject to a corporate tax rate of 40%.
A) What is the expected return on Green?s equity before the announcement of the debt issue?
B) Construct Green's market value balance sheet before the announcement of the debt issue. What is the price per share of the firm's equity?
C) Construct Green's market value balance sheet immediately after the announcement of the debt issue. What is Green's stock price per share immediately after the repurchase announcement?
D) How many shares will Green purchase as a result of the debt issue? How many shares of common stock will remain after the repurchase?
E) Construct a market value balance sheet after the restructuring. What is the required return on Green's equity after the restructuring?
Answer: See explanation and attachment
Explanation:
a. Return on equity:
= Pre tax earnings × (1 - Tax rate) / Total equity
= 1.5 million × (1 - 40%) / 6.3 million
= 1.5 million × (1 - 0.4) / 6.3 million
= (1.5 million × 0.6) / 6.3 million
= 0.9 million / 6.3 million
= 14.29%
b. Check attachment for Green's market value balance sheet before the announcement of the debt issue.
The price per share of the firm's equity will be:
= Equity / Number of shares
= $6300000 / 400000
= $15.75 per share
c. Check Green's market value balance sheet immediately after the announcement of the debt issue.
Green's stock price per share immediately after the repurchase announcement will be calculated thus:
We need to know the value of tax shield which will be:
= 40% × $2,000,000
= $800,000
Value of firm = $6,300,000 + $800,000
= $7,100,000
Price per share will be:
= Equity / Number of shares
= 7100000 / 400000
= $17.75 per share
d. The number of shares that Green will purchase as a result of the debt issue will be:
= Debt issue / Price per share
= 2,000,000 / 17.57
= 112,676
The number of shares of common stock that will remain after the repurchase will be:
= 400000 - 112676
= 287324
e. Check attachment for market value balance sheet after the restructuring.
The required return on Green's equity after the restructuring will be:
= 14.29% + (2000000/5100000) × (14.29% - 6%) × (1 - 40%)
= 14.29% + 0.3921 × 8.29% × 0.6
= 14.29% + 1.95%
= 16.24%
Jeff installs a new dial-up connection to access home Internet. What device should he buy to connect his system to the Internet?
A.
browser
B.
router
C.
antenna
D.
firewall
E.
modem
Answer:modem
Explanation:
Answer: E. Modem
Explanation: I took the test on plato, and also Dial-up access uses a modem to connect to the internet through a phone line. This connection does not require any additional infrastructure other than a modem.
Distribution of Cash Upon Liquidation Hewitt and Patel are partners, sharing gains and losses equally. They decide to terminate their partnership. Prior to realization, their capital balances are $28,000 and $18,000, respectively. After all noncash assets are sold and all liabilities are paid, there is a cash balance of $35,000. a. What is the amount of a gain or loss on realization
Answer: Loss of $11,000
Explanation:
Total Capital balance is:
= 18,000 + 28,000
= $46,000
Gain on realization = Cash balance - Capital balance
= 35,000 - 46,000
= -$11,000
This is therefore a loss because the cash available cannot cover the capital amount.
Write a professional 1 page memo that responds to this problem.
Jack Jones is an employee who performs below expected levels. You hired Jack because he was highly qualified for the job, and he used to be an excellent worker. He has a personality that fits well in your company, and you want to keep him. Lately, Jack has been regularly late to work, misses work often, and spends a lot of time away from his desk when he is at work. As the department manager, you are in charge of communicating the news to Jack as well as providing him a feasible plan for improving his work performance.
Solution :
Memo
From : Department Manager
Date : 01 May 2021
Subject : Improvement of Performance
This is to inform you that I have lately noticed that you have not able to meet the goal for the last 6 months and your average is average. I see that you are an excellent worker and have doing good but lately your performance level is not up to the mark. Also you are not punctual at your job which may hamper your appraisal or your incentives.
So going forward, I would like to ask you to be regular to work and work effectively for your overall growth. I would suggest you to be on time at work at complete your daily task for the day to achieve your targets. Your can also seta goal for the day so that your targets are achieved.
You are a true asset to the organization and we believed that your efforts will help you to grow and learn more.
I have attached a file which shows your performance for the last 6 months and also a feedback on how to improve.
Revert if there is any query.
Best Regards
Department Manager
what is the meaning of dialogue
Answer:
it is a communication that permits people to share their honest opinions even those which have,historically, been difficult to discuss in ways that get ideas out on the table but without offending others
can anyone share important questions on Managerial Information Systems??
i need it for preparing
for my exams
Explanation:
(1) designing systems that are competitive and efficient; (2) understanding the system requirements of a global business environment; (3) creating an information architecture that supports the organization's goals; (4) determining the ...
At the beginning of 2020, Sun Angel Corporation began offering a two-year warranty on its products. The warranty program was expected to cost Sun Angel 3% of net sales in the first 12 months and 1% of net sales in the second 12 months. Net sales made under warranty in 2020 were $184,743,795. Fifteen percent of the units sold were returned in 2020 and repaired or replaced at a cost of $5,179,626. The amount reported on Sun Angel's 2020 year end balance sheet for Estimated Warranty Liability is:
Answer:
$2,210,126
Explanation:
Calculation to determine what The amount reported on Sun Angel's 2020 year end balance sheet for Estimated Warranty Liability is:
Estimated Warranty Liability=(1%+3%*$184,743,795)-$5,179,626
Estimated Warranty Liability=$7,389,752-$5,179,626
Estimated Warranty Liability=$2,210,126
Therefore The amount reported on Sun Angel's 2020 year end balance sheet for Estimated Warranty Liability is:$2,210,126
Lorenzo schedules work, and sends workers and vehicles to different locations. His job title is best described as _____ .
1. Chauffeur
2. Dispatcher
3. Streetcar Operator
4. Copilot
Abraham assists and monitors airline passengers during a trip. His job title is best described as ____ .
1. Flight Attendant
2. Dispatcher
3. Airline Pilot
4. Air Traffic Controller
Dani monitors and directs many different airplanes at an airport. Her job title is best described as ____ .
1. Dispatcher
2. Air Traffic Controller
3. Flight Attendant
4. Flight Engineer
Answer:
2)DIspatcher
1) Flight attendant
2)Air traffic controller
Explanation:
I just answered the question on Edge and they were all right :)
The correct options are:
2)DIspatcher.1) Flight attendant.2)Air traffic controller.What is the job title?
A job title is the name of the position you hold at your company, typically associated with a specific set of tasks and responsibilities. A job title often denotes a person's level of seniority within a company or department. It also gives insight into what an employee contributes to a company.
What is a job title example?
A job title can describe the responsibilities of the position, the level of the job, or both. For example, job titles that include the terms “executive,” “manager,” “director,” “chief,” “supervisor,” etc. are typically used for management jobs.
Learn more about the job title here: brainly.com/question/6947486
#SPJ2
Cavy Company estimates that the factory overhead for the following year will be $1,745,300. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 56,300 hours. Calculate the predetermined overhead rate to apply factory overhead. Round your answer to the nearest cent. $fill in the blank 1 per machine hour
Answer:
$31
Explanation:
Given the following information,
Total factory overhead costs = $1,745,300
Direct labor hours = 56,300
To calculate the predetermined manufacturing overhead rate, we will make use of the formula below;
Predetermined manufacturing overhead rate = Total estimated overhead costs for the period / Total amount of allocation base
= $1,745,300 / 56,300
= $31
Therefore, the predetermined overhead rate to apply to factory overhead is $31
In a recent annual report, Fourth Wall Inc. (formerly Greencube) disclosed that 61,600,000 shares of common stock have been authorized. At the beginning of the fiscal year, a total of 35,949,592 shares had been issued and the number of shares in treasury stock was 7,331.269. During the year, 566,765 additional shares were issued, and the number of treasury shares increased by 3,114,188
Determine the number of shares outstanding at the end of the year.
Answer:
See
Explanation:
Fourthwall Inc.
Number of shares outstanding at the end of the year
Issued shares (35,949,952 + 566,765)
36,516,717
Treasury stock (7,331.269 + 3,114,188)
3,121,519.269
Share outstanding
33,395,197.73
Walker Company prepares monthly budgets. The current budget plans for a September ending merchandise inventory of 27,000 units. Company policy is to end each month with merchandise inventory equal to 15% of budgeted sales for the following month. Budgeted sales and merchandise purchases for the next three months follow. The company budgets sales of 180,000 units in October.
Sales (Units) Purchases (Units)
July 210,000 222,000
August 290,000 290,000
September 290,000 273,500
Required:
a. Prepare the merchandise purchases budget for the months of July, August, and September.
b. Compute the ratio of ending inventory to the next month’s sales.
c. How many units are budgeted for sale in October?
Answer:
Walker Company
a. Merchandise Purchases Budget for the months of July, August, and September:
July August September
Sales units 210,000 290,000 290,000
Ending inventory 43,500 43,500 27,000
Goods available 253,500 333,500 317,000
Beginning inventory 31,500 43,500 43,500
Purchases 222,000 290,000 273,500
b. The ratio of ending inventory to the next month's sales = 15% (Ending Inventory/Sales next month * 100)
c. The units budgeted for sale in October = 180,000 units.
Explanation:
a) Data and Calculations:
September ending inventory = 27,000 units
Ending inventory always equal to 15% of budgeted sales for the following month.
Sales (Units) Purchases (Units)
July 210,000 222,000
August 290,000 290,000
September 290,000 273,500
October 180,000
July August September October
Sales units 210,000 290,000 290,000 180,000
Ending inventory 43,500 43,500 27,000
Goods available 253,500 333,500 317,000
Beginning inventory 31,500 43,500 43,500 27,000
Purchases 222,000 290,000 273,500
Do you think you would want a credit card in college? Why or why not ?
Answer:
Yes I would to help build my credit but only if I was in a spot where I knew that I whould be able to keep up and pay it back on time.
Explanation: