Answer:
$38,400
Explanation:
Calculation to determine what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense
Using this formula
Balance in the Allowance account adjustment = outstanding accounts receivable *Estimated uncollectible percentage
Let plug in the formula
Balance in the Allowance account adjustment= $1.28 million account receivables x 3%
Balance in the Allowance account adjustment= $38,400
Therefore what will be the balance in the allowance for doubtful accounts after the year-end adjustment to record bad debt expense is $38,400
Southern Corporation has a capital structure of 40% debt and 60% common equity. This capital structure is expected not to change. The firm's tax rate is 34%. The firm can issue the following securities to finance capital investments: Debt: Capital can be raised through bank loans at a pretax cost of 9.7%. Also, bonds can be issued at a pretax cost of 7.0%. Common Stock: Retained earnings will be available for investment. In addition, new common stock can be issued at the market price of $67. Flotation costs will be $2 per share. The recent common stock dividend was $3.68. Dividends are expected to grow at 5% in the future. What is the cost of external equity
Answer:
Cost of equity = 10.9%
Explanation:
The Dividend Valuation Model(DVM) is a technique used to value the worth of an asset. According to this model, the value of an asset is the sum of the present values of the future cash flows would that arise from the asset discounted at the required rate of return.
If dividend is expected to grow at a given rate , the value of a share is calculated using the formula below:
D0× (1+g)/Po × (1-F) + g
Do - dividend in the following year, K- requited rate of return , g- growth rate , F= Floatation cost in %
DATA:
D0- 3.68
g- 5%
P=67
K- ?
Po×(1-F)= 67-3.68=$63.32
Ke = 3.68× 1.05/ 63.32 + 0.05 =0.109
Cost of equity = 0.109× 100= 10.9%
Cost of equity = 10.9%
13. You are considering the purchase of two different insurance annuities. Annuity A will pay you $16,000 at the beginning of each year for 8 years. Annuity B will pay you $12,000 at the end of each year for 12 years. Assuming your money is worth 7%, and each costs you $75,000 today, which would you prefer
Answer:
The present value of Annuity is 102,228 which is higher than that of Annuity B - $95,312 Hence, Annuity is preferable.
Explanation:
To determine which to go for, we would calculate the present value of insurance investment discounted at the at the rate of 7%.
The PV of the insurance annuities would be done as follows:
PV of annuity A
The number of payments would be 20 installments. Please be mindful not to say 19. Remember the first the payment occurs in year 4 which is inclusive.
PV = A + A × 1- ( (1+r)^(-n))/r
A- annual payment
r- rate of return
n- number of years
PV = 16,000 + 16,000 × (1- 1.07^(-7) )/0.07 = $102,228.63
PV of annuity B
PV = 12,000× (1-1.07^(-12)/0.07) = $95,312.24
The present value of Annuity is 102,228 which is higher than that of Annuity B - $95,312 Hence, Annuity is preferable.
The Elmo Company purchased equipment on January 1, Year 1 at a cost of $26,000. The equipment was estimated to last for 8 years and have a salvage value of $2,000. At the end of Year 5, it was determined that the total useful life of the equipment was really 11 years, and the salvage value was expected to remain unchanged. The firm uses the straight-line method of depreciation.
a. What amount of depreciation was recorded for the equipment in year 1?
b. What was the amount of the depreciation expense recorded in year 6?
Answer:
The Elmo Company
a. The amount of the depreciation expense recorded in year 1 = $3,000
b. The amount of the depreciation expense recorded in year 6 = $1,500
Explanation:
a) Data and Calculations:
Cost of equipment on January 1, Year 1 = $26,000
Estimated useful life = 8 years
Salvage value = $2,000
Depreciable amount = $24,000 ($26,000 - 2,000)
Annual depreciation expense = $3,000 ($24,000/8)
Accumulated depreciation after 5 years = $15,000 ($3,000 * 5)
Net book value after 5 years = $11,000
Sixth year appraisals:
Remaining useful life = 6 years
Salvage value = unchanged at $2,000
Depreciable value = $9,000 ($11,000 - 2,000)
Annual depreciation expense = $1,500 ($9,000/6)
One of the benefits of time management is that it takes away all of your leisure time.
True or false?
Answer:
false po ate or kuya
Answer:
false
Explanation:
Time management taking away free time isn't a plus, and that's not what it's supposed to do in the first place
Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations and sales activities for June. The journal entry to record June sales is:____
Direct materials used $74,000
Direct labor used $136,100
Pre-determined overhead rate
(based on direct labor) 120%
Goods transferred to
finished goods $444,000
Cost of goods sold $456,000
Credit sales $831,600
A. Debit Accounts Receivable $831,600; credit Cost of Goods Sold $831,600.
B. Debit Accounts Receivable $831,600; credit Sales $375,600; credit Finished Goods Inventory $456,000.
C. Debit Cost of Goods Sold $456,000; credit Sales $456,000.
D. Debit Finished Goods Inventory $456,000; debit Sales $831,600; credit Accounts Receivable $831,600; credit Cost of Goods Sold $456,000.
D. Debit Accounts Receivable $831,600; credit Sales $831,600; debit Cost of Goods Sold $456,000; credit Finished Goods Inventory $456,000.
Answer: Debit Accounts Receivable $831600; credit Sales $831600; debit Cost of Goods Sold $456,000; credit Finished Goods Inventory $456,000.
Explanation:
Based on the information given, the journal entry to record June sale will be:
Debit Accounts Receivable $831,600;
Credit Sales $831,600;
Debit Cost of Goods Sold $456,000;
Credit Finished Goods Inventory $456,000.
Q 14.6: Morris Enterprises has 5,000 shares of 5.5%, $100 par value cumulative preferred stock and 100,000 shares of $10 par value common stock. In 2018, Morris paid the preferred dividend and $25,000 in dividends to common stockholders. In 2019, Morris paid no cash dividends to stockholders. In 2020, Morris has declared a cash dividend totaling $75,000. How much in cash dividends will common stockholders receive in 2020
Answer:
Dividend paid to be paid to common stockholder=$ 20,000
Explanation:
Common stock holders are the real risk bearers as they receive as dividends the residual amount after all other claims have been settled.
Preference shares entitles the holders to participate in a fixed dividend out of the profit made by the company. The divide is always a fixed percentage of the nominal value of the preference shares
Cumulative preference shares: Cumulative simply implies that should the company misses the payment of dividend in a particular year such unpaid dividend would be carried carried forward and paid in arrears in the following year/
Preference dividends
2019 - 5.5% × $100 × 5,000= $27500
2020 - 5.5% × $100 × 5,000 = $27500
Total preferred to be paid in 2020 = 55,000
Dividends paid to common stock = Total dividend for 2020- Total preference dividend in 2020
Dividend paid to be paid to common stockholder
= 75,000-55,000= 20,000
Dividend paid to be paid to common stockholder=$ 20,000
Pasadena Candle Inc. budgeted production of 730,000 candles for the January. Wax is required to produce a candle. Assume 11 ounces of wax is required for each candle. The estimated January 1 wax inventory is 17,400 pounds. The desired January 31 wax inventory is 12,900 pounds. If candle wax costs $1.40 per pound, determine the direct materials purchases budget for January. (One pound
Answer:
696,325 Pounds
Explanation:
The computation of the direct material purchase budget is given below:
Here we assume that
one pound = 16 ounces
Now total wax needed is
= Production of Finished Goods × Pounds of wax needed for production
= 730,000 candles × 11 ÷ 16
= 501,875 pounds
Now
Total direct material purchased = (Total Wax needed + Ending Inventory, Jan.31 - opening inventory) × unit price
= (490,625 Pounds + 12,900 pounds - 17,400 pounds) × $1.40 per pound
= 696,325 Pounds
Assume that the international Fisher effect (IFE) holds between the United States and the United Kingdom. The U.S. inflation is expected to be 5 percent, while British inflation is expected to be 3 percent. The interest rate offered on pounds is 7 percent, and the U.S. interest rate is 7 percent. What does this say about real interest rates expected by British investors
Answer:
Nominal rate of return= 3.9%
Explanation:
Inflation is the increase in the price level. It erodes the value of money.
Nominal interest is that quoted for investment or loan transactions. It has not been been adjusted for inflation.
Real interest rate is the amount of interest in terms of the the quantity of good and services that can be purchased. It is the nominal interest rate adjusted for inflation.
The relationship between inflation, real interest and nominal interest rate is given using the Fishers Effect;
N = ( (1+R) × (1+F)) - 1
R= (1+N)/(1+F) -1
N- nominal rate, R-real rate, F- inflation
Real rate of return = 1.07/1.03 - 1= 0.039
Nominal rate of return = 0.039× 100
Nominal rate of return= 3.9%
f a taxpayer sells property for cash, the amount realized consists of the net proceeds from the sale. For each of the following, indicate the effect on the amount realized if: The property is sold on credit. A mortgage on the property is assumed by the buyer. A mortgage on the property is assumed by the seller. The buyer acquires the property subject to a mortgage of the seller. Stock that has a basis to the purchaser of $6,000 and a fair market value of $10,000 is received by the seller as part of the consideration.
Answer:
a. The property is sold on credit.
The amount realized is the cash received at the date of sale and the cash that will be received in future when the credit is settled.
b. A mortgage on the property is assumed by the buyer.
The amount realized increases because the seller will see their debt reduced and still receive cash from the buyer for the purchase of the property.
c. A mortgage on the property is assumed by the seller.
The amount realized decreases because the realized amount will have to be net of the mortgage that the seller now has to pay.
d. The buyer acquires the property subject to a mortgage of the seller.
Amount realized increases as the buyer will become the one making mortgage payments instead of the seller which effectively means that the seller gets the realized value net of debt.
e. Stock that has a basis to the purchaser of $6,000 and a fair market value of $10,000 is received by the seller as part of the consideration.
Realized value increases to $10,000 because that is the fair value of the stock when exchange for the property.
You are risk managers of your own life (student life). Identify your loss exposures (>10), assess them and make a map
briefly describe the term budget
Answer:
A budget is a financial plan for a defined period, often one year. It may also include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities, and cash flows. Companies, governments, families, and other organizations use it to express strategic plans of activities or events in measurable terms.
If investors receive shares of stock in companies that they fund on crowdfunding websites like Kickstarter, would their investments be considered to be securities? Group of answer choices Yes, because it is an investment of money in a common enterprise and the investors expect profit from the efforts of others. No, they do not involve the investment of money or other consideration. No, because the profit arises solely from the efforts of the investors. Yes, because the requirements of the 1934 Securities Exchange Act are all met.
Answer:
Yes, because it is an investment of money in a common enterprise and the investors expect profit from the efforts of others.
Explanation:
In the case when the investor would received the shares of the companies and that should be funded on the website of crown funding so this would be considered as securities as this a money investment that to be made in a common enterprise also the investor expected the profit. In addition to this, the SEC permits the equity crowdfunding with effective from May 2016
Therefore the first option is correct
Aspen Company estimates its manufacturing overhead to be $891,000 and its direct labor costs to be $540,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $168,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $293,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $118,000. Actual manufacturing overhead for year 2 was $960,000. Manufacturing overhead is applied on the basis of direct labor costs.
Required:
A. How much overhead was applied to each job in year 2?
B. What was the over- or underapplied manufacturing overhead for year 2?
Answer:
See below
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 = 891,000/540,000 = $1.65 per direct labor dollar
We will now allocate overhead to each job
Allocated MOH = Estimated manufacturing overhead rate × Actual amount of allocation base
Job 2-1 = $1.65 × $168,000 = $277,200
Job 2-2 = $1.65 × $293,000 = $483,450
Job 2-3 = $1.65 × $118,000 = $194,700
Total allocated overhead = $955,350
The under/over allocation overhead
Under/over applied overhead
= Real overhead - Allocated overhead
Under/over applied overhead
= $960,000 - $955,350
= $4,650
Which task is most suitable for creating an algorithm?
saving time writing a report
explaining how to set up a mobile phone for use
choosing photos to put on a website
finding the best of three suggested routes to drive to a concert
Answer:
finding the best of three suggested routes to drive to a concert
Answer:
D. finding the best of three suggested routes to drive to a concert
Explanation:
thank the other person :)
The Shasti Corporation reported the following for the year ending December 31, 20X1: Service cost: $142,610 Plan assets, January 1, 20X1: $1,200,000 Prior service cost amortization: $21,150 Expected return on plan assets: 9% Actual return on plan assets: 8.5% Pension expense: $175,760 Actuarially determined discount rate: 8% What was the projected benefit obligation on January 1, 20X1
Answer:
$1,500,000
Explanation:
Calculation to determine What was the projected benefit obligation on January 1, 20X1
Using this formula
Projected benefit obligation on January 1, 20X1=Interest cost ÷Actuarially determined discount rate
Projected benefit obligation on January 1, 20X1=(10%*$1,200,000)/0.08
Projected benefit obligation on January 1, 20X1=$120,000/0.08
Projected benefit obligation on January 1, 20X1=$1,500,000
Therefore the projected benefit obligation on January 1, 20X1 is $1,500,000
Schultz Tax Services, a tax preparation business had the following transactions during the month of June:
1. Received cash for providing accounting services, $3,000.
2. Billed customers on account for providing services, $7,000.
3. Paid advertising expense, $800.
4. Received cash from customers on account, $3,800.
5. paid cash dividends, $1,500.
6. Received telephone bill, $220.
7. Paid telephone bill, $220
Based on the information given above, calculate the balance of Cash at June 30. (Hint: Use the following reconciliation.)
Cash, June 1 $25,000
Plus: cash receipts for June ____________
Minus: cash payments for June ____________
Cash, June 30 ____________
Answer:
$29,280
Explanation:
It is important to consider only cash transactions when preparing a Cash Reconciliation.
Schultz Tax Services Cash Reconciliation
Cash, June 1 $25,000
Plus: cash receipts for June
Receipts for Accounting Services $3,000
Receipts from Accounts Receivables $3,800 $6,800
Minus: cash payments for June
Advertising expense paid $800
Dividends paid $1,500
Telephone expense paid $220 ($2,520)
Cash, June 30 $29,280
Conclusion :
The balance of Cash at June 30 is $29,280
Which of the following is true about Likert Scale?
Select one:
a. Respondents indicate how strongly they agree or disagree with a statement
b. The scale doesn't reveal respondent's attitude
c. Scores are not assigned to possible responses
d. The scale doesn't need a pretest for an item analysis
Answer:
A
Explanation:
The Likert Scale is a 5 -point psychometric scale used in questionnaire.
The scale was invented by Rensis Likert
The 5 points are :
Strongly agreeagreeundecideddisagree strongly disagreeAdvantages of the Likert scale
it gives respondents more options instead of yes or nomore options make it more easy to analyse dataDisadvantages of the Likert scale
respondents can lie on the questionnaireAnswer:
a. Respondents indicate how strongly they agree or disagree with a statement
Explanation:
A likert scale is used to determine people's attitude towards a particular topic. It uses scores on the scale to evaluate how strongly a person agrees with a particular subject matter.
The scale is from 1 to 5.
1 - strongly disagree
2 - disagree
3 - neutral
4 - agree
5 - strongly agree
This type of scale is used for website surveys, customer surveys, and so on to gauge perceptions, feelings and insights of the target population
Identify Ten (10) Differences that exist Between
Personal consumers and organisational Consumers.
Explanation:
Consumers buy products for their own use, while businesses buy goods to use in their continuing activities and resell to consumers. Customers appetite and the need for manufacturing supplies force organizations to buy products in greater quantities than people.
business economics Que
•unilateral flows in the balance of payment account refer to 1- capital flows
2-visible goods flow
3-gifts and grants
4-invisible flow of services
Answer:
Diapers are a pricey
Explanation:
Diapers are a pricey, essential item for parents. Now, they're getting even more expensive, hurting low-income families already struggling with the pandemic's economic woes.Disposable diaper prices rose 8.7% during the year ending April 10, according to the latest numbers from NielsenIQ, which tracks point of sale data from retailers. Diaper makers recently said they are planning additional price increases, which may further stretch low-income families' budgets if stores choose to pass on the hikes.#accelerationism
Data related to the inventories of Kimzey Medical Supply are presented below: Surgical Surgical Rehab Rehab Equipment Supplies Equipment Supplies Selling price $ 325 $ 185 $ 405 $ 230 Cost 235 155 315 227 Replacement cost 305 145 300 223 Costs to sell 56 18 38 36 Normal gross profit ratio 20 % 20 % 20 % 30 % In applying the lower of cost or market rule, the inventory of surgical equipment would be valued at:
Answer:
The inventory of surgical equipment would be valued at $204.
Explanation:
The data given in the question are first sorted as follows:
Surgical Surgical Rehab Rehab
Equipment Supplies Equipment Supplies
Selling price $ 325 $ 185 $ 405 $ 230
Cost 235 155 315 227
Replacement cost 305 145 300 223
Costs to sell 56 18 38 36
Normal gross profit ratio 20 % 20 % 20 % 30 %
The value of the inventory of surgical equipment can now be calculated as follows:
Ceiling = Net realizable value = Selling price - Costs to sell = $325 - $56 = $269
Floor = Net realizable value - Normal gross profit ratio = $269 - (325 * 20%) = $204
Replacement cost = $305
Market is the middle value of ceiling, floor and replacement cost.
Market value = Flor $204
Cost = $235
Lower of cost or market = $204
Therefore, the inventory of surgical equipment would be valued at $204.
Prepare journal entries for each of the following: a. Issued a check to establish a petty cash fund of $550. If an amount box does not require an entry, leave it blank. fill in the blank 34ed1d068fd9f9a_2 fill in the blank 34ed1d068fd9f9a_3 fill in the blank 34ed1d068fd9f9a_5 fill in the blank 34ed1d068fd9f9a_6 b. The amount of cash in the petty cash fund is $190. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $211 and miscellaneous selling expense, $133. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank. fill in the blank d87119f87056fd0_2 fill in the blank d87119f87056fd0_3 fill in the blank d87119f87056fd0_5 fill in the blank d87119f87056fd0_6 fill in the blank d87119f87056fd0_8 fill in the blank d87119f87056fd0_9 fill in the blank d87119f87056fd0_11 fill in the blank d87119f87056fd0_12
Answer:
A. Dr Petty Cash $550
Cr Cash $550
B..Dr Store Supplies $211
Dr Miscellaneous Selling Expense $133
Dr Cash Short and Over $16
Cr Cash $360
Explanation:
A. Preparation of the Joural entry if Issued a check to establish a petty cash fund of $550
Dr Petty Cash $550
Cr Cash $550
(To record creation of petty cash)
(b)
Dr Store Supplies $211
Dr Miscellaneous Selling Expense $133
Dr Cash Short and Over $16
($550-$211-$133-$190)
Cr Cash $360
($211+$133+$16)
(To record expense and replenish the petty cash)
Under the retrospective approach to accounting for changes in accounting principles, Multiple select question. prior years' financial statements are revised to reflect the impact of the new accounting principle change. a journal entry is made to adjust asset accounts to what their balances would have been had the new method been used in the current year forward. a journal entry is made to adjust all balance sheets accounts to what they would have been if the new method had always been used. only the current year and future financial statements are revised to reflect the impact of the accounting principle change. a journal is made to adjust the firm's Retained earnings balance to reflect the cumulative effect of the accounting principle change.
Answer:
Under the retrospective approach to accounting for changes in accounting principles,
a journal is made to adjust the firm's Retained earnings balance to reflect the cumulative effect of the accounting principle change.
Explanation:
A change in an accounting principle refers to a change in the accounting method. An example is using a different depreciation method (straight-line instead of double-declining method) or switching between Weighted-Average to LIFO inventory valuation method. Where there is a change in accounting principle, the change is applied retrospectively to the earliest period when financial statements are presented. The purpose is to ensure that the comparative financial statements reflect the new application of the accounting principle just as the current financial statements do. However, this cannot be done if it were impractical.
Interest cost included in pension expense recognized for a period by an employer sponsoring a defined-benefit pension plan represents the shortage between the expected and actual returns on plan assets. increase in the projected benefit obligation due to the passage of time. increase in the fair value of plan assets due to the passage of time. amortization of the discount on accumulated OCI (PSC).
Answer: Increase in the projected benefit obligation due to the passage of time.
Explanation:
The interest cost is used to show how much the Projected Benefit Obligation (PBO) owed by the employer to the Defined Benefit pension plan has increased by in the period.
The interest cost increases based on the unpaid beginning PBO for the period that arises as the employment term of the employee increases and the interest rate is the discount rate that is used to discount the PBO.
Software companies often bundle upgrades and technical support services with their software. Assume that a software company promises to automatically deliver upgrades for two years when a customer purchases software costing $100. Describe how the software company should determine the amount of revenue to recognize at the date of sale and subsequent to the date of sale.
Answer:
The company promises to deliver upgrades for two years to a customer if they purchase software that costs $100. These upgrades need to be accounted for so they will be accounted for from the $100.
The $100 will therefore be split between the cost price of the software and the 2 year upgrades.
The part of the $100 that is the cost price will be recognized by the company as revenue immediately at the date of sale.
The upgrades however, will not. This is because you can only recognize revenue for services performed and these have not been performed yet. They will therefore be classified as Deferred revenue which is a liability account showing that the company owes people performance obligations.
As the years go by and the upgrades are given, the revenue will be recognized.
Aria Perfume, Inc., sold 3,210 boxes of white musk soap during January of 2021 at the price of $90 per box. The company offers a full refund to unsatisfied customers for any product returned within 30 days from the date of purchase. Based on historical experience, Aria expects that 3% of sales will be returned. How many performance obligations are there in each sale of a box of soap
Answer:
Aria Perfume, Inc.
There are two performance obligations involved in each sale of a box of soap.
Explanation:
a) Data and Calculations:
Number of boxes of white musk soap sold during January 2021 = 3,210
Sales price per box = $90
Performance Obligations:
Sale of box = $87.30 (97%)
Refund for returned boxes = $2.70 (3%)
Total Sales revenue to be accounted for = $280,233
Total refund expense to be accounted for = $8,667
Cash receipts should total = $288,900
b) The performance obligations are for the sale of a box of soap (97%) and refund (3%). With a sales price of $90 per box, the sales obligation should be $87.30 per box, while the refund obligation has $2.70 per box, which must be provided and accounted for separately.
Victoria Enterprises expects earnings before interest and taxes (EBIT) next year of $1 million. Its depreciation and capital expenditures will both be $300,000, and it expects its capital expenditures to always equal its depreciation. Its working capital will increase by $50,000 over the next year. Its tax rate is 25%. If its WACC is 10% and its FCFs are expected to increase at 4% per year in perpetuity, what is its enterprise value
Answer:
$9,166,666.67
Explanation:
The computation of the enterprise value is given below
But before that next year free cash flow is
= (Earnings before interest and taxes (EBIT) × (1 - tax rate) ) +depreciation -capital expenditures - working capital
=$1,000,000 × (1 - 40%)) +$300,000 - $300,000 - $50,000
= $550,000
Now the enterprise value is
= Free cash flow ÷ (WACC - growth rate)
= $550,000 ÷ (10% - 4%)
= $9,166,666.67
Multiple Choice Question Mahan Corporation expects total sales to increase by 20% over the next year. The corporation has no spare capacity and must increase plant and equipment by 20%. The corporation currently has $100,000 in assets, $40,000 in debt, and $60,000 in equity. The corporation desires to maintain the debt-equity ratio. The corporation's debt will be _____. Multiple choice question. $72,000 $40,000 $60,000 $48,000
Answer:
$48,000
Explanation:
The computation of the corporation debt is shown below:
Since the asset is increased by 20%
The present asset is $100,000
ANd, the increased assets is
= $100,000 + $100,000 × 0.20
= $100,000 + $20,000
= $120,000
Now the debt is
= $120,000 × 0.4
= $48,000
hence, the last option is correct
Heavy Products, Inc. (HPI) developed standard costs for direct material and direct labor. In 2020, HPI estimated the following standard costs for one of their major products, the 10-gallon plastic container.
Budgeted quantity Budgeted price
Direct materials 0.1 pounds $90 per pound
Direct labor 0.2 hours $30 per hour
During June, Heavy Products produced and sold 21,000 containers using 2,400 pounds of direct materials at an average cost per pound of $93 and 2,100 direct manufacturing labor-hours at an average wage of $30.50 per hour. June's direct material flexible-budget variance is:_____.
A) $18,720 favorable.
B) $880,000 unfavorable.
C) $100,000 favorable.
D) $60,000 unfavorable.
Answer:
$34,200
Explanation:
Calculation to determine what June's direct material flexible-budget variance is
Flexible-budget variance = (2,400 × $93) − (21,000 × 0.1 × $90)
Flexible-budget variance =$223,200-$189,000
Flexible-budget variance =$34,200 U
The chief executive of Goldman Sachs, Lloyd Blankfein, said in 2009 that banks serve a social purpose and are "doing God’s work. We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. It’s a virtuous cycle." On the other hand, Goldman Sachs earned around $12 billion and would hand out more than $16 billion in year-end bonuses. The average employee earned $500,000 for the year. Despite the rhetoric, Blankfein’s leadership was probably
Question Completion with options:
O transformational
O transactional
O contingency-based leadership
Answer:
Lloyd Blankfein's Leadership at Goldman Sachs
Despite the rhetoric, Blankfein’s leadership was probably:
O transactional.
Explanation:
Transactional leadership can be contrasted with transformational leadership because of their different focus. Transactional leadership favors a process and control management structure that elicits compliance. Compliance is rewarded while non-compliance is punished. On the other hand, transformational leadership inspires followership with a high degree of communication strategy coordinating activities and engendering a cooperative spirit. Contingency-based leadership is situational and advocates that leadership style should be dictated by prevailing circumstances.
Goldman Sachs chief executive Lloyd Blankfein's leadership was probably transactional which involved a system of rewards and punishments to inspire its followers.
What is Transactional Leadership?This type of leadership uses a system of rewards and punishments to inspire its followers. Control, organization, and short-term planning are characteristics of transactional leadership.
Transactional leadership can be contrasted with transformational leadership because of its different focus.
Transactional leadership favors a process and control management structure that elicits compliance. Compliance is rewarded while non-compliance is punished.
On the other hand, transformational leadership inspires followership with a high degree of communication strategy coordinating activities and engendering a cooperative spirit.
Contingency-based leadership is situational and advocates that leadership style should be dictated by prevailing circumstances.
Hence, Despite the rhetoric, Blankfein's leadership was probably Transactional.
To learn more about transformational leadership, refer to the link:
https://brainly.com/question/25626701
Suppose that Riverview Community Bank loans out all of its excess reserves that resulted from the $178,000 Fed bond purchase to Ms. Barlett who uses the funds to purchase a house from Mr. Rho. Mr. Rho deposits the proceeds of the home sale into his checking account at Waterfield Bank. Illustrate the T-account for Waterfield Bank after this transaction has occurred.
Answer:
The deposit of $178,000 by Mr. Rho appears under Liabilities of Waterfield Bank as shown in the attached photo.
Explanation:
Note: See the attached photo for the T-account Illustration for Waterfield Bank after this transaction has occurred.
The the proceeds of the home sale deposited by Mr. Rho into his checking account at Waterfield Bank is liability to Waterfield Bank. Therefore, the deposit of $178,000 by Mr. Rho appears under Liabilities of Waterfield Bank as shown in the attached photo.