Answer:
$1,200
Explanation:
purchase cost net realizable value LCM
unit A $650 $685 $650
unit B $625 $550 $550
total $1,275 $1,200
When you apply the lower of cost or market value, you must value your inventory at whichever is lower between historic cost (purchase cost) and the net realizable value (NRV). Any adjustments made will increase cost of goods sold and decrease inventory. In this case, the adjusting journal entry should be:
Dr Cost of goods sold 75
Cr Inventory 75
1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method.
Answer:
Too much information is missing, so I looked for a similar question that can hopefully serve as an example:
Hemming uses a periodic inventory system. Assume that ending inventory is consists of 45 units from the March 14 purchase, 85 units from the July 30 purchase, and all 185 units from the October 26 purchase. Using the specific identification method, calculate the (a) the cost of goods sold and (b) the gross profit.
Cost of goods sold (COGS) = $20,999 Gross profit = $27,175 Value of ending inventory = $8,071
In total 1,425 units were purchased or remained from last year's ending inventory. Total cost of the 1,425 units was $29,070.
The company sold in total 1,110 units at $43.30 per unit for a total of $48,174.
the ending inventory using the specific identification method:
45 units x $18.40 = $828 85 units x $23.40 = $1,989 185 units x $28.40 = $5,254 total value of ending inventory = $8,071Cost of goods sold (COGS) = total inventory cost - ending inventory = $29,070 - $8,071 = $20,999
gross profit = total revenue - COGS = $48,174 - $20,999 = $27,175
Is it possible that a person might me an ffective leader in one situation but not another.explain
Reliability is often included in service level agreements (SLAs) when an organization is outsourcing. The toughest thing is to decide how much reliability is enough. Consider the objective of availability or uptime. What is the difference between 95%, 99%, 99.99%, and 99.9999% availability?
Answer:
95% reliability = 18.25 days
99% reliability= 3.65 days
99.99% reliability= 0.0365 days
99.9999% reliability= 0.000365 days
Explanation:
1. Calculation for 95% reliability
Using this formula
95% Reliability=Worse percentage*Numbers of days
Let plug in the formula
95% Reliability=(100%-95%)*365
95% Reliability=5%*365
95% Reliability=18.25 days
2. Calculation for 99% reliability
Using this formula
99% Reliability=Worse percentage*Numbers of days
Let plug in the formula
99% Reliability=(100%-99%)*365
99% Reliability=1%*365
99% Reliability=3.65 days
3. Calculation for 99.99% reliability
Using this formula
99.99% Reliability=Worse percentage*Numbers of days
Let plug in the formula
99.99% Reliability=(100%-99.99%)*365
99.99% Reliability=0.01%*365
99.99% Reliability=0.0365 days
4. Calculation for 99.9999% reliability
Using this formula
99.9999% Reliability=Worse percentage*Numbers of days
Let plug in the formula
99.9999% Reliability=(100%-99.9999%)*365
99.9999% Reliability=0.0001%*365
99.9999% Reliability=0.000365 days
Therefore the difference between 95%, 99%, 99.99%, and 99.9999% are :
95% reliability = 18.25 days
99% reliability= 3.65 days
99.99% reliability=0.0365 days
99.9999% reliability= 0.000365 days
Determine the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment.
Answer:
Land $120,000
Building$240,000
Equipment$40,000
Explanation:
Calculation to Determine the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment.
Asset , Estimated fair value, Allocated percentage, Amount paid , Record amount
Land 150,000 30% $400,000 $120,000
Building 300,000 60% $400,000 $240,000
Equipment 50,000 10% $400,000 $40,000
Total 500,000
RECORDED AMOUNT
Land $120,000
Building$240,000
Equipment$40,000
Total $400,000
Calculation for Allocated percentage
Land: 150,000/500,000= 30%
Building 300,000 /500,000 = 60%
Equipment 50,000 /500,000 = 10%
Therefore the amounts Red Rock should record in the separate accounts for the land, the building, and the equipment are:
Land $120,000
Building$240,000
Equipment$40,000
This year Ed celebrated his 25th year as an employee of Designer Jeans Company. In recognition of his long and loyal service, the company awarded Ed a gold watch worth $240 and a $2,590 cash bonus. What amount must Ed include in his gross income
Answer:
$2,590 will be included in the gross income.
Explanation:
The bonus earned from the employer as a bonus payment of $2,590 would have been included in gross sales.
The $250 golden watch earned would not be reported in the employee's gross salary.
Imagine a machine takes 50 minutes to complete one unit on a production line. Of the 50 minutes, 40 minutes was actual productive utilization. For 10 minutes the resource was idle, needing to pause and wait for other processes to finish during the production. What is the average labor utilization (round to the nearest %)
Answer:
80%
Explanation:
the average labor utilization rate is calculated by dividing total labor time applied by the addition of total labor time applied plus idle time. In this case, total labor time applied is 40 minutes and idle time is 10 minutes:
average labor utilization rate = 40 minutes / (40 + 10 minutes) = 40 / 50 = 0.8 = 80%
Bria Clothing Store had a balance in the Accounts Receivable account of $920,000 at the beginning of the year and a balance of $980,000 at the end of the year. Net credit sales during the year amounted to $7,600,000. The receivables turnover ratio was
Answer:
8.0 times
Explanation:
Accounts receivable turnover = Net credit sales / Average accounts receivables
Net credit sales = $7,600,000
Average accounts receivables = Beginning account receivable + Ending account receivable / 2
= ($920,000 + $980,000)/2
= $950,000
Therefore,
Account receivable turnover = $7,600,000 / $950,000
= 8.0 times
K.J. Lee, CFA, an analyst with Water's Edge Securities, estimates the market risk premium is 6.80% and the risk-free rate is 2.10%. She's calculated the beta for Summerfield Tech as 0.94, and she estimates the expected return is:
Answer:
The Expected return is 8.492%
Explanation:
The computation of the expected return is shown below:
Expected return is
= Risk free rate + Beta × market risk premium
= 2.10% + 0.94 × 6.80%
= 2.10% + 6.392%
= 8.492%
Hence, the Expected return is 8.492%
We simply applied the above formula
and, the same is to be considered
By considering all the information given in the question
A Rose Is a Rose, but Only If It Is Fresh Supply chains for food and flowers must be fast, and they must be good. When the food supply chain has a problem, the best that can happen is the customer does not get fed on time; the worst that happens is the customer gets food poisoning and dies. In the floral industry, the timing and temperature are also critical. Indeed, flowers are the most perishable agricultural item—even more so than fish. Flowers not only need to move fast, but they must also be kept cool, at a constant temperature of 33 to 37 degrees. And they must be provided preservative-treated water while in transit. Roses are especially delicate, fragile, and perishable. Eighty percent of the roses sold in the U.S. market arrive by air from rural Colombia and Ecuador. Roses move through this supply chain via an intricate but fast transportation network. This network stretches from growers who cut, grade, bundle, pack, and ship; to importers who make the deal; to the U.S. Depar
Answer:
The logistic function is really important in the flower industry. Highly professional logistic team should be selected who understand the importance of transporting roses on time.
Explanation:
The flowers are most perishable items. They should be dealt with great care in order to keep their freshness alive. The logistic team should be selected with great care as there will be complete reliance on them for the freshness of the roses. The process of transportation should be quick as the delay can cause the roses to be deteriorated and their freshness will not be conserved.
During the year, the company produced and sold 30,000 units of product at a selling price of $18.50 per unit. There was no beginning inventory of product at the beginning of the year. What is the contribution margin ratio for Blaine Corporation (round to 1 decimal)
Answer: 67.7%
Explanation:
Contribution Margin ratio = (Sales per units - Variable cost per unit) / Sales per unit
Variable cost per unit = (Manufacturing + Marketing + Administrative)/ Units sold
= (115,000 + 22,000 + 42,000) / 30,000
= $5.97
Contribution Margin ratio = ( 18.50 - 5.97)/ 18.50
= 67.7%
What are some strategies that you can use to prepare to file taxes each year? What would be
the benefits of these strategies?
what is the accumulated value in 5 years of an annuity paying 200 at the end of each half year, with a nominal interest rate of 9 convertible semiannually g
Answer:
FV= $2,457.64
Explanation:
Giving the following information:
Number of periods= 5*2 = 10
Interest rate= 0.09/2 = 0.045
Semiannual payment= $200
To calculate the Future Value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= semiannual deposit
FV= {200*[(1.045^10) - 1]} / 0.045
FV= $2,457.64
Rogers and Wissinger have partnership capital balances of $576000 and $432000, respectively. Wissinger negotiates to sell his partnership interest to Mergenthaler for $503700. Rogers agrees to accept Mergenthaler as a new partner. The partnership entry to record this transaction is
Answer:
Wissinger, Capital 432000
Mergenthaler, Capital 432000
Explanation:
A partnership is a form of business whereby two or more people come together to manage s business and achieve its goals and objectives.
Based on the scenario in the question, the partnership firm don't receive any cash since the share was being transferred from Wissinger to Mergenthaler. Therefore, the partnership entry to record this transaction will be:
Wissinger, Capital 432000
Mergenthaler, Capital 432000
This shows the Wissinger's capital balance that was transferred to Mergenthaler.
if i move will my IP address change??
Answer:
yes it will change.
Explanation:
You are working in retail and you see a coworker taking from the cash register or
overcharging a customer and pocketing (stealing ) the rest. Do you report them?
It is ideal to report or make a complaint regarding overcharging a customer and self-pocketing the extra amount.
What is a report?In crisp and simple terms, a report is like a complaint or an appeal made with the superior authorities regarding any wrongdoings or illegal activities that a person witnesses or experiences.
Overcharging the customers by a cash receptionist is an illegal act and a due report must be made to the manager or the business owner and also to the relevant lawful authorities.
Hence, the significance of a report is aforementioned.
Learn more about a report here:
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c. How much higher (lower) would Casebolt Company's net income have been under the direct write-off method than under the allowance method
Answer: $9,375
Explanation:
Under the direct writeoff method, only the actual bad debts incurred will be taken out from the income for the year.
With the Allowance method however, the amount to be taken out will be the percentage expected to be uncollectible.
Under direct method, income would reduce by the actual bad debt of $30,000.
Under Allowance the income would be reduced by;
= ¾% * 5,250,000
= $39,375
Income would be higher with Direct write-off by;
= 39,375 - 30,000
= $9,375
Income statement: 20X2 Sales $ 2,500,000 Cost of goods sold 1,300,000 Net income 200,000 Balance sheets: 20X2 20X1 Accounts receivable $ 300,000 $ 200,000 Total assets 2,000,000 1,800,000 Total shareholders' equity 900,000 700,000 The return on shareholders' equity for 20X2 is: Multiple Choice 20% 8% 22.22% 25%
Answer:
25%
Explanation:
Return on shareholder's equity = Net income / Average shareholder's equity balance
Net income = $200,000
Average shareholder's equity balance = ($900,000 + $700,000) / 2
= $800,000
Therefore,
Return on shareholder's equity = $200,000 / $800,000
Return on shareholder's equity = 25%
The inventory control tool that does not require direct line of sight to read the tag on a product(s), is known as
Answer: RFID reader
Explanation:
The inventory control tool that does not require direct line of sight to read the tag on a product(s), is known as Radio Frequency Identification (RFID) reader.
When an information is being stored in a Radio Frequency Identification (RFID) tag, it should be noted that a direct line of sight is not required for the information to be read by a RFID reader.
The inventory control tools is known as Radio-frequency identification.
The s Radio-frequency identification.tags transmit data about an item through radio waves to the antenna or reader combination.
Basically, when an information of a product is being stored in the RFID tag, the data will be transmit to the server without having to be in direct line of sight with the items.
Therefore, the RFID tags are frequently used for the control of merchandise inventory.
Learn morre about RFID here
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Rates on fixed, floating, installment and mortgage loans were reduced by 0.3 percent (from 9.3% to 9.0% etc.). Which were impacted the most
Answer:
This depends on the type of interest charged and the length of the loan. Generally speaking, floating loans should adjust semi-automatically to changes in interest rates. So any change affects them directly.
On the other hand, fixed rate loans, most mortgages and installment loans generally carry a fixed interest rate that doesn't depend on the market interest rate. Some mortgages (around 33% of total) are variable rate mortgages that are affected by changes in the market interest rate, but they adjust on a yearly basis.
Paper Express Company has a balance sheet which lists $85 million in assets, $40 million in liabilities, and $45 million in common shareholders'equity. It has 1,400,000 common shares outstanding. The replacement cost of the assets is $115 million. The market share price is $90.
Required:
What is Paper Express's book value per share?
Answer:
$32.14
Explanation:
Paper Express's book value per share=book value of shareholders'equity/common shares outstanding
book value of shareholders'equity=$45 million=$45,000,000
Number of common shares outstanding=1,400,000
Paper Express's book value per share=$45,000,000/1,400,000
Paper Express's book value per share=$ 32.14
Assume consumption of education by individuals provides a positive externality. In this case individuals deciding how much education to undertake will not consider the public _______ generated. Hence there will be ____________ consumption of education.
Answer:
The right approach is "benefit, over".
Explanation:
If the collective costs outweigh the personal costs, externalities are unfavorable. Certain externalities are optimistic or positive. As when the demand for education involves positive externality, that greater the influence gain the much more educated individual gets, so it can contribute to more than consuming of education.But that's the perfect solution above.
Peter forgot to file his tax return by April 15. He did not file an extension. Peter finally filed his tax return on July 31 and had a remaining tax liability of $3,500. What is Peter's failure to file penalty
Answer:
Peter's failure to file penalty = $700
Explanation:
Peter filed tax return on July 31 after forgetting to file his tax return by April 15 and did not ask for extension. This means that the IRS can impose a 20% penalty on Peter for the tax due on a return where there is negligence, as can be established in this case.
Peter's remaining tax liability = $3,500
Penalty = $700 ($3,500 * 20%)
An individual who is considering consumption between two time periods (year 1 and year 2) has an endowment of $20,000 in year 1 and $15,000 in year 2. If the interest rate is 5 percent, what is the maximum approximate amount that can be spent on consumption in year 1
Answer: A $34,250
Explanation:
Maximum approximate amount that can be spent in year 1 is the endowment in year 1 plus the present value of the year 2 endowment in year 1.
= 20,000 + 15,000/ ( 1 + 5%)
= 20,000 + 14,285.71
= $34.285.71
= $34,250 is nearest amount in options.
The Heckscher–Ohlin model assumes that the factors of production are mobile ______,but immobile _____.
Answer:
domestically: internationally
Explanation:
The Heckscher-Ohlin model refers to a model in which there is a equilibrium trade arise between the two countries that change the natural resources. It describes how the countries operates and trade in the case when the resources are not balanced.
Therefore in the given situation, the factor of production would be mobile domestically but immobile internationally
Hence, the same is to be considered
Manor Cinemas has announced that seniors over 60 years of age can enter the theater for free prior to 4:00 p.m. when accompanied by a paying customer. This is an example of ________.
Answer:
Promotional pricing.
Explanation:
Promotional pricing can be defined as a strategic sales technique or approach adopted by business owners or companies through the reduction of their selling price in order to convince or attract potential customers.
In this scenario, Manor Cinemas has announced that seniors over 60 years of age can enter the theater for free prior to 4:00 p.m. when accompanied by a paying customer. This is an example of promotional pricing.
An investor is considering a no-load mutual fund with an annual expense ratio of 0.4% and an annual 12b-1 fee of 0.55%. Another option is to invest a bank CD paying 5.5% per year. What minimum annual rate of return must the fund earn to make the investor better off in the fund than in the CD?
Answer:
6.45%
Explanation:
Calculation for the minimum annual rate of return that the fund must earn to make the investor better off in the fund than in the CD
Using this formula
Minimum annual rate=Bank CD+Annual expense ratio+Annual 12b-1 fee
Let plug in the formula
Minimum annual rate=5.5% per year + 0.4%+0.55
Minimum annual rate=6.45%
Therefore the minimum annual rate of return that the fund must earn to make the investor better off in the fund than in the CD Will be 6.45%
The quantity demanded of ground beef increased from 3,550 to 3,650 when the price of hamburger buns decreased from $1.65 to $1.15. Calculate the cross-price elasticity of demand for hamburger buns. Include a minus sign if elasticity is a negative number. Round your answer to the nearest hundredth.
Answer:
the cross price elasticity of demand is -0.08
Explanation:
The computation of the cross elasticity of demand is shown below:
As we know that
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
where,
Change in quantity demanded is
= Q2 - Q1
= 3,650 - 3,550
= 100
And, average of quantity demanded is
= (3650 + 3,550) ÷ 2
= 3,600
Change in price is
= P2 - P1
= $1.15 - 1.65
= - 0.5
And, average of price would be
= ($1.15 + $1.65) ÷ 2
= 1.4
So, after solving this, the cross price elasticity of demand is -0.08
Barry often works outdoors, where he measures property boundaries for various clients. He also analyzes the land to determine whether it can be safely built on. His job is best described as SURVEYOR Lois works in an office and comes up with ideas for how to design and structure office buildings. She often uses computer programs to create drawings and models. Then she hands the building plans to other workers, who create more detailed drawings. Her job is best described as ARCHITECT Marvin works in an office drawing maps for bridges, highways, and roads. His job is best described as CIVIL DRAFTER
Answer:
Barry is a land surveyor, you forgot one word there.
Lois is probably an architect since her job involves designing and planing houses, buildings and other structures.
Marvin is probably a graphic designer since his job involves drawing maps, so it is closely related with design. A civil drafter is someone who performs calculations, cost estimates, reports and they also draw plans but their job is more related to engineering or construction, rather than design.
Answer:
A. Surveyor B. Architect C. Civil drafter
Explanation:
Correct on edg 2020
McConnell Corporation has bonds on the market with 22.5 years to maturity, a YTM of 6.9 percent, a par value of $1,000, and a current price of $1,057. The bonds make semiannual payments. What must the coupon rate be on these bonds
Answer:
7.40%
Explanation:
The coupon rate of the bond can be calculated as follows
Formula: [tex]p= C * \frac{1 - \frac{1}{(1 + i)^{n}}}{i} + \frac{M}{(1 + i)^{n}}[/tex]
DATA
M = $1000
n = 22.5 *2 =45 semi-annual periods,
i = 6.9%/2 = 3.45% (semi-annually)
P = $1,057
Solution
1057 =[tex]C * \frac{1 - \frac{1}{(1 + 0.0345)^{45}}}{0.0345} + \frac{1000}{(1 + 0.0345)^{45}}[/tex]
1057 = C * 22.69 + 217.33
839.67 + C * 22.69
C = $37.01 This is a semi-annual coupon
Annual Coupon = 2 * $37.01 = $74.02
Annual Coupon Rate = 7.40%
1. People who own more cars tend to live longer than people who own fewer cars. Why is this relationship not evidence that buying more cars increases life expectancy
Answer:
Car & Life Expectancy positive relationship is not evident, as its due to an interlinking lurking variable ie buyer's affluence.
Explanation:
More cars linked to higher life expectancy, positive correlation between these variables is a spurious correlation. Spurious relationship is a relationship between variables, that appears to be true, when it is actually false.
Given variables' correlation is spurious, as it is not logically correct (evident). It seems to be misleading correct because of a lurking variable, buyer's affluence. Lurking variable affects both independent (causal) & dependent (affected) variable, which creates a statistical illusion of variables' correlation.
In this case, affluence being lurking variable affects both number of cars owned & life expectancy. This seemingly creates a correlation between the non evidently linked variables as 'cars & life expectancy having positive relationship'