Answer:
$136,000
Explanation:
Calculation to determine how much will the company, as a whole, will be worse off by
Using this formula
Worse off amount =(Purchases from an outside supplier -Variable cost per unit)*Units purchased
Let plug in the formula
Worse off amount =($37-$29)*17,000
Worse off amount =$8*17,000
Worse off amount =$136,000
Therefore the company, as a whole, will be worse off by $136,000
Bailey Manufacturing Co.'s static budget at 10,000 units of production includes $60,000 for direct labor and $6,000 for electric power. Total fixed costs are $20,000. At 14,000 units of production, a flexible budget would show a.variable costs of $66,000 and $20,000 of fixed costs. b.variable and fixed costs totaling $120,400. c.variable costs of $92,400 and $28,000 of fixed costs. d.variable costs of $92,400 and $20,000 of fixed costs.
Answer:
d. variable costs of $92,400 and $20,000 of fixed costs.
Explanation:
Flexible Budget is a budget that has been adjusted to meet the actual level of activities (units produced) during the year.
Step 1 : Determine the Variable unit Costs
Direct Labor ($60,000 ÷ 10,000) = $6.00
Electric Power ($6,000 ÷ 10,000) = $0.60
Total Variable Cost per unit = $6.60
Step 2 Determine Total Cost
Total Cost = Variable Cost + Fixed Cost
where x units are produced this will be :
Total Cost = $6.60x + $20,000
for 14,000 units produced this will be :
Total Cost = $6.60 x 14,000 + $20,000
= $92,400 + $20,000
= $112,400
Conclusion :
The correct option is d. variable costs of $92,400 and $20,000 of fixed costs.
Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-par common stock and 20,000 shares of preferred stock, par value $10. During the year, the following selected transactions occurred:
a. Collected $50 cash per share from four individuals and issued 6,000 shares of common stock to each.
b. Issued 7,000 shares of common stock to an outside investor at $50 cash per share.
c. Issued 9,000 shares of preferred stock at $15 cash per share.
Required:
Prepare the journal entries indicated for each of these transactions.
Answer:
the correct answer is C. hope it helps
A company purchased factory equipment on April 1, 2021 for $175000. It is estimated that the equipment will have a $25000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2021 is $17500. $11250. $13125. $15000.
Answer:
b. $11250
Explanation:
Capitalized Cost of Equipment = $175,000
Life of Assets = 10 years
Residual value = $25,000
Depreciable value = Cost - Salvage value
Depreciable value = $175,000 - $25,000
Depreciable value = $150,000
Depreciation per year = Depreciable value / Life of assets
Depreciation per year = $150,000/10 years
Depreciation per year = $15,000
Depreciation from April to December 2021 = $15,000*9/12
Depreciation from April to December 2021 = $11,250
Alana Company manufactures books. Manufacturing a book takes 10 units of A1 and 1 unit of A2. Scheduled production of books for the next two months is 1,000 and 1,200 units, respectively. Beginning inventory is 4,000 units of A1 and 30 units of A2. The ending inventory of A1 is planned to decrease 500 units in each of the next two months, and the A2 inventory is expected to increase 5 units in each of the next two months.
How many units of A1 does Alana Company expect to use in production during the second month?
A) 12,000 units
B) 12,500 units
C) 10,000 units
D) 10,750 units
Answer:
Direct material used (A1)= 12,500 units
Explanation:
To calculate the units of A1 used in the second month of production, we need to use the following formula:
Direct material used= beginning inventory + production - ending inventory
Beginning inventory= (4,000 - 500)= 3,500
Production= 10*1,200= 12,000
Ending inventory= (3,500 - 500)= 3,000
Direct material used (A1)= 3,500 + 12,000 - 3,000
Direct material used (A1)= 12,500 units
Desert Company determined a piece of machinery to be impaired. They make the decision to discontinue use of the machine and hold it for sale. Desert reports the following information as of December 31st for the machine. What do they report for impairment loss on their year-end income statement? Historical Cost 236,716 Accumulated Depreciation 41,812 Fair Value 128,370 Estimated Selling Price 152,163 Estimated Costs to Sell 11,131
Answer:
$77,665
Explanation:
We can calculate the impairment loss by using following formula,
Impairment loss = Carrying amount - Recoverable amount
Where, carrying amount = $236,716 - $41,812
= $194,904
Recoverable Amount = $128,370 - $11,131
= $117,239
By putting the value in the formula, we get
Impairment loss = $194,904 - $117,239
= $77,665
how do i type i am serious
1
Place your fingers in the "home" position. That's the position in which your fingers will rest between keystrokes. No matter what part of the keyboard you're using, your fingers will always come back to rest in this position.[1]
Place your right index finger on the "J" key and let the other three fingers fall naturally onto the "K", "L" and ";" keys respectively. Place your left index finger on the "F" key and let the other three finger fall naturally onto the "D", "S", and "A" keys respectively. Both thumbs should rest on the space bar, but only the right thumb should key it.[2]
You should feel a raised bump on both the "F" and "J" keys. These will allow your fingers to find the home position without having to look at the keyboard.
2
Type each key from left to right. Type each letter covered by the fingers in the home position, going from left to right: a s d f j k l ;. You shouldn't have to move your fingers from their home positions. Just press the keys they are resting on.
3
Repeat, but this time capitalize. Repeat the step above, but this time in capital letters: A S D F J K L :. Use the shift key to capitalize rather than the caps lock. Push the shift key by moving only your nearest pinkie finger and pressing and holding it while pushing the desired letter with your other hand.
In other words, when the letter you would like capitalized is typed with your left hand, you press the right shift key with your right pinkie.
When the letter you would like capitalized is typed with your right hand, you press the left shift key with your left pinkie.
4
Become familiar with the rest of the alphabet. Learn where each letter is positioned on the keyboard, and use the nearest finger to contact each key. (The thumbs are never the nearest finger; they are used only on the space bar.)[3]
"q" "a" and "z" are typed with the left pinkie, and so are the tab, caps lock, and shift keys.
"w" "s" and "x" are typed with the left ring finger.
"e" "d" and "c" are typed with the left middle finger.
"r" "f" "v" "b" "g" and "t" are typed with the left index finger.
Your thumbs should never leave the space bar.
"u" "j" "n" "m" "h" and "y" are typed with your right index finger.
"i" "k" and the keys with "," and "<" are typed with the right middle finger.
"o" "l" and the keys with ">" and "." are typed with the right ring finger.
Your right pinkie finger is used for typing: "p", ";", ":", "'", """ (a quotation mark), "/", "?", "[", "{", "]", "}", "\", "|", and is used for pressing the shift, enter, and backspace keys.
5
Type your first sentence. Starting from the home position, type: "The quick brown fox jumps over the lazy dog". This sentence contains every letter in the alphabet, so it's a perfect sentence for practicing the correct finger positioning.
Type the sentence over and over, watching your fingers to make sure they go to the right keys and immediately return to home position.
Once you begin to feel comfortable with the way your fingers are moving, try to look at the screen while you type rather than looking at the keyboard. This is known as touch typing.
If, at the present output level, marginal revenue is $50 and marginal cost is $35, the purely competitive firm Group of answer choices should increase output to maximize its profit or minimize its loss. should reduce output to maximize its profit or minimize its loss. should increase its price to maximize its profit or minimize its loss. should stay at its current output to maximize its profit or minimize its loss.
Answer: should reduce output to maximize its profit or minimize its loss
Explanation:
Since we are given the information that at the present output level, the marginal revenue is $50 and the marginal cost is $35, this implies that the marginal revenue is more than the marginal cost, which simply means that there'll be a positive marginal profit.
In such scenario, therefore, the purely competitive firm should reduce output to maximize its profit or minimize its loss.
Consider Franco Co, the parent of a US-based multinational corporation (MNC) that uses forecasted exchange rates to assist with various business functions. Franco Co is deciding whether to deposit cash at a bank in the eurozone. The possible appreciation, or depreciation, of the euro affects the number of dollars the MNC ultimately receives. Franco Co uses a forecasted exchange rate of the euro to help them make a decision.
This is an example of using exchange rate forecasting to assist with_____"financing in foreign currency; short-term investment; capital budgeting; short-term investment; hedging; earning assessment" decisions, with the goal of improving the value of the MNC via influencing the______"the cost of capital; dollar value of foreign cash flows"
Answer:
This is an example of using exchange rate forecasting to assist with capital budgeting decisions, with the goal of improving the value of the MNC via influencing the dollar value of foreign cash flows.
Capital budgeting decisions have to do with decisions a company makes on investments that it would like to go into. Depositing money into a Eurozone bank account is that investment so this is a capital budgeting decision.
The goal of this investment is to improve the value of the company by gaining from an appreciation of the Euro so that a higher dollar amount can be acquired for the Euros held.
Balance Sheet Below are items that may appear on the balance sheet. Required: Match each item with its appropriate classification.
Item
1. Buildings
2. Copyright
3. Supplies
4. Unearned service revenue
5. Prepaid insurance
6. Common stock
7. Rent payable
8. Accounts receivable
9. Allowance for doubtful accounts
10. Bonds payable
Classification
A. Current assets
B. Property, plant, and equipment
C. Intangible assets
D. Current liabilities
E. Long-term liabilities
F. Contributed capital
G. Retained earnings
Answer:
Item Classification
1. Buildings - Property, plant, and equipment
2. Copyright - Intangible assets
3. Supplies - Current assets
4. Unearned service revenue - Current liabilities
5. Prepaid insurance - Current assets
6. Common stock - Contributed capital
7. Rent payable - Current liabilities
8. Accounts receivable - Current assets
9. Allowance for doubtful accounts - Retained earnings
10. Bonds payable - Long-term liabilities
Explanation:
A. Current assets - Assets that exist for a period not exceeding 12 months such as supplies.
B. Property, plant, and equipment - Assets of a Physical Nature that are expected to be used for more than a year.
C. Intangible assets - Assets that do not have a physical nature and are expected to be used for more than a year.
D. Current liabilities - Short term obligation due within a period of 12 months.
E. Long-term liabilities - Long term obligations due within a period exceeding 12 months.
F. Contributed capital - Capital raised by owners of the company excluding reserves attributed to them.
G. Retained earnings - Amounts set aside out of profits that are distributable to the shareholders of the company. Therefore Incomes and expenses are found here.
Blossom Company borrowed $311,000 on January 1, 2020, by issuing a $311,000, 10% mortgage note payable. The terms call for annual installment payments of $52,000 on December 31. (a) Prepare the journal entries to record the mortgage loan and the first two installment payments. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Answer:
Blossom Company
Journal Entries:
January 1, 2020:
Debit Cash $311,000
Credit Mortgage Note Payable $311,000
To record the borrowing of 10% mortgage note payable.
December 31, 2020:
Debit Mortgage Note Payable $52,000
Credit Cash $52,000
To record the first repayment of the mortgage note.
Debit Interest Expense $31,100
Credit Cash $31,100
To record the payment of interest on the note.
Explanation:
a) Data and Calculations:
Mortgage Note Payable = $311,000
Interest rate of mortgage = 10%
Annual installment payments = $52,000
Date of repayment = December 31
Interest expense = $31,100 ($311,000 * 10%)
For Year 1, Nnabue Company's year-end balance sheet lists $3,286,421 in ending Retained Earnings. During Year 1, Nnabue's net income exceeded its dividend declarations by $175,819. Nnabue's dividend declarations in Year 1 were $38,602. Nnabue also sold $32,000 of stock in Year 1. Dividend payments were $14,000. How much was Nnabue's beginning retained earnings
Answer:
See below
Explanation:
Statement showing the beginning retained earnings
Ending retained earnings balance
$3,286,421
Add:
Dividend declared
$38,602
Less;.
Income during the year
($175,819 + $38,602)
($214,421)
Beginning retained earnings
$3,110,602
Therefore, Nnabue's beginning retained earnings is $3,110,602
Morris is a software engineer for a manufacturer. He wrote a program for the accounting department. During the testing phase, he noticed that the software would occasionally return an erroneous result, but he decided not to make modifications to the program because there were concerns about the project going over budget. He decided that it was better for him to be seen as someone who could stay within budget, and rationalized that the error was minor, and would not affect financial performance.Which principle of the Software Engineering Code of Ethics has Morris violated
Answer:
The principle of the Software Engineering Code of Ethics that Morris has violated is:
the Product principle.
Explanation:
The Product principle requires that Morris' program (product and related modifications) should meet the highest professional standards. Staying within budget and rationalizing an error as minor are not requirements of the Software Engineering Code of Ethics that Morris subscribed to.
Other requirements of the code include acting in the best interest of the public, client, and employer; maintaining high product standards; integrity and independence in professional judgment; using an ethical approach; maintaining professional integrity and independence; being fair and supportive to colleagues; and ensuring participation in lifelong learning.
The principle of the Software Engineering Code of Ethics which Morris has violated is:
The Product principle.
Based on the given scenario, we can see that Morris who is a software engineer was running a program which he had written for the accounting department when he discovered that there was a bug.
However, he decided not to report this bug which was discovered and decided to keep the app, as he was already over budget and thought it would not be a huge hindrance.
This type of negligence goes against the principle of the product principle which entails that any given program must be of the highest standard available.
Therefore, the correct answer is product principle.
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Pet business examples
Hello mate... here's the answer.,...
Answer:
*There are many pet business examples but the few I know are these:- *pet sitting,pet walking , training the dog,pet bakery if u like my answer thank them....
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs* $156,400 $198,500 $201,200 Insurance expense** 1,190 1,190 1,190 Depreciation expense 2,010 2,010 2,010 Property tax expense*** 460 460 460 * Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $1,190 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). ***Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of April are
Answer:
$187,975
Explanation:
Calculation to determine The cash payments expected for Finch Company in the month of April
Cash Payment= 3/4 *$198,500 (May's manufacturing cost)+1/4 *$156,400 (April's manufacturing cost received in May)
Cash Payment=$148,875+$39,100
Cash Payment=$187,975
The The cash payments expected for Finch Company in the month of April are $187,975
You are conducting a discounted cash flow analysis (DCF). You purchased an asset for $400,000 at time point zero. The asset was depreciating using straight line depreciation over a ten year schedule. When you initially placed the asset into service, you expected the asset to have a disposal / salvage value of $0. At the end of year seven the project is suddenly cancelled due to a change in technology and the asset is sold in the open market for $110,000. Prior to this transaction, the firm was forecasted to earn $1,000,000 profit after tax in year seven and the tax rate for the firm is 20%. What is the cash flow, in time period seven, as a result of this transaction
Answer: $112000
Explanation:
First, we calculate the book value in year 7 which will be:
= Depreciation × Balance life
= $400,000 × 3/10
= $120,000
Then, the cash flow as a result of the transaction will be:
= Asset sale - (Asset - Book value) × Tax rate
= 110000 - [(110000 - 120000) × 20%]
= 110000 - (-2000)
= 110000 + 2000
= 112000
Cash flow is the determination of inflow and outflow of cash due to business or non-business activities. The cash flow for a particular year is determined by preparing the cash flow statement. There are two methods for cash flow statements those are: direct and indirect methods.
The cash flow for the transaction is $112,000
Computation:
The cash flow in the time period of seven years is determined as follows:
[tex]\begin{aligned}\text{Cash Flow}&=\text{Sale Value of Asset}-[\left(\text{Asset-Book Value}\right)\times\text{Tax Rate}]\\&=\$110,000-[\left(\$110,000-\$120,000 \right )\times20\%]\\&=\$110,000-\left(-\$2,000 \right )\\&=\$112,000 \end{aligned}[/tex]
Working Note:
The calculation of the book value of the asset at the 7th year:
[tex]\begin{aligned}\text{Book Value}&=\text{Depreciation}\times\dfrac{\text{Remaining Life of Asset}}{\text{Estimate Useful Life of the Asset}}\\&=\$400,000\times\dfrac{3}{10}\\&=\$120,000\end{aligned}[/tex]
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Janson Corporation Co.'s trial balance included the following account balances at December 31, 2019: Account receivable 12,000 Inventory 40,000 Patent $12,000 Investment $30,000 Prepaid insurance $6000 Note receivable due 2026 $50,000 Investments consist of treasury bills that were purchased in November this year and mature in January next year. Prepaid insurance is for the next two years. What amount should be included in the current asset section of Janson's December 31, 2013, balance sheet
Answer:
$82,000
Explanation:
Current Assets are assets of a short term nature that exists in the business for a period not exceeding 12 months.
The current asset section
Inventory $40,000
Investment $30,000
Account receivable $12,000
Total $82,000
Therefore
The current asset section of Janson's December 31, 2013, balance sheet would show a total of $82,000
. It is important to conserve fossil fuels because
Explanation:
However, there is a more important reason to conserve fossil fuels, and that's to help heal the environment. Burning petroleum, coal and natural gas fills the air with harmful pollutants, including nitrogen oxides, sulfur dioxide, carbon dioxide, ozone and a host of hydrocarbons.
Sterling Hotel uses activity-based costing to determine the cost of servicing customers. There are three activity pools: guest check-in, room cleaning, and meal service. The activity rates associated with each activity pool are $8.70 per guest check-in, $18.00 per room cleaning, and $3.00 per served meal (not including food). Julie Campbell visited the hotel for a 5-night stay. Julie had 6 meals in the hotel during the visit. Determine the total activity-based cost for Campbell's visit during the month. Round your answer to the nearest cent.
Answer:
Allocated costs= $116.7
Explanation:
Giving the following formula:
The activity rates associated with each activity pool are $8.70 per guest check-in, $18.00 per room cleaning, and $3.00 per served meal (not including food).
Julie Campbell visited the hotel for a 5-night stay. Julie had 6 meals in the hotel during the visit.
To allocated costs, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated costs= 8.7 + 18*5 + 3*6
Allocated costs= $116.7
3. Assuming that a person going to community college can't afford to go to a 4-year college is an example of
O A. a generalization.
O B. discrimination.
O C. tolerance.
O D. a stereotype.
Answer:
A. a generalization is the correct answer.
Exercise 13-07 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. End of Year Beginning of Year Cash and cash equivalents $ 760 $ 77 Accounts receivable (net) 2,080 1,890 Inventory 830 810 Other current assets 440 433 Total current assets $4,110 $3,210 Total current liabilities $2,100 $1,590 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover and days in inventory at the end of the current year
Answer:
See below
Explanation:
Data given
Cash and cash equivalents $760 $77
Accounts receivables net $2,080 $1,890
Inventory $830 $810
Other current assets $440 $433
Total current assets $4,110 $3,210
Total current liabilities $2,100 $1,590
Net credit sales $8,258
Cost of goods sold $5,328
1. Current ratio = Current assets/Current liabilities
= 4,110/2,100
= 1.96
2. Accounts receivable turnover = Credit sales/Average accounts receivables
= 8,258÷ [(2,080+1,890)/2]
= 8,258 ÷ 1,985
= 4.16 times
3. Average collection period = Average accounts receivables/Credit sales × 365 days
= (1,985/8,258) × 365
= 87.7 days
4. Inventory turnover = Cost of goods sold/Average inventory
= 5,328/[830 + 810)/2]
= 5,328/820
= 6.5 times
5. Days in inventory = Average inventory/Cost of goods sold × 365
= (820/5,328) × 365
= 56.2 days
Peyton sells an office building and the associated land on May 1 of the current year. Under the terms of the sales contract, Peyton is to receive $1,950,800 in cash. The purchaser is to assume Peyton's mortgage of $1,170,480 on the property. To enable the purchaser to obtain adequate financing, Peyton is to pay the $23,410 in points charged by the lender. The broker's commission on the sale is $78,032. What is Peyton's amount realized
Answer: $3,019,838
Explanation:
Peyton will gain the cash from this transaction.
Peyton will also gain the mortgage that is assumed by the buyer because they are being freed from debt.
They will however incur the expense of the broker's commission and the points they have to pay for.
Amount Peyton will recognize:
= Cash received from sale + Peyton mortgage assumed by Buyer - Points Peyton pays for - Broker's commission
= 1,950,800 + 1,170,480 - 23,410 - 78,032
= $3,019,838
Elsanora Corporation reports the year-end information from 2018 as follows: Sales (100,000 units) $500,000 Less: Cost of goods sold 300,000 Gross profit 200,000 Operating expenses (includes $20,000 of Depreciation) 120,000 Net income $ 80,000 Elsanora is developing the 2019 budget. In 2019 the company would like to increase selling prices by 10%, and as a result expects a decrease in sales volume of 5%. Cost of goods sold as a percentage of sales is expected to increase to 62%. Other than depreciation, all operating costs are variable. What is the new net income
Answer:
Results are below.
Explanation:
Giving the following formula:
Unitary selling price= 500,000/100,000= $5
Operating expenses= $1
Depreciation= $20,000
New selling price= 5*1.1= $5.5
Sales in units= 100,000*0.95= 95,000
COGS rate= 0.62
To calculate the net income, we need to use the following structure:
Sales= 5.5*95,000= 522,500
COGS= 522,500*0.62= (323,950)
Gross profit= 198,550
Operating expenses= (95,000 + 20,000)= (115,000)
Net income= 83,550
The journal entry to transfer completed products from production to finished goods inventory includes which two of the following?
a. Debit to Finished Goods Inventory
b. Credit to Work in Process Inventory
c. Credit to Finished Goods Inventory
d. Debit to Work in Process Inventory
e. Debit to Raw Materials Inventory
f. Credit to Raw Materials Inventory
Answer:
c. Credit to Finished Goods Inventory
e. Debit to Raw Materials Inventory
Please remind me if one of them is correct or wrong or if both are wrong/correct
Explanation:
After the accounts have been adjusted at March 31, the end of the fiscal year, the following balances were taken from the ledger of Haverty Services Co.:
Retained Earnings $587,500
Dividends 40,000
Fees Earned 542,145
Wages Expense 349,700
Rent Expense 83,900
Supplies Expense 31,475
Miscellaneous Expense 10,490
Required:
Journalize the two entries required to close the accounts.
Answer and Explanation:
The two entries for closing the accounts are shown below:
1 Fees earned $542,145
To Income Summary $542,145
(Being revenue accounts are closed)
2 Income Summary Dr $475,565
To Wages expense $349,700
To Rent Expense $83,900
To Supplies Expense $31,475
To Miscellaneous expense $10,490
(Being expense accounts are closed)
These two entries should be recorded
Limited liability is an advantage of what form of business ownership?
Question 16 options:
A)
Sole proprietorship
B)
Franchise
C)
Partnership
D)
Corporation
Answer:
d
Explanation:
Answer:
Corporation
Explanation:
Instruction. Use insertion about to guido
discussion. Give
your
de a detailed description of the management conces and 17 entral
resources needed by the business to achieve its objectives
Answer:
Resources needed by a business to achieve it objectives include but are not limited to the following:
Human Resources: No matter how beautiful a business plan is, it is as worthless as the document on which it is written if it fails to attract the right set of human resources to help bring it to life.
Financial Resource: In business, there is a common cliche that is ever relevant and it says: Cash is King. Whether it is self-owned finance, equity financing, debt financing, grants, etc every business needs money to finance its operations.
Place of Operation
This can either be a physical space or cyber space or both. However, a business needs a space to operate from. In the wake of the recent pandemic, there has been a strong shift and preference towards a combination of domestic space and electronic space as places from where businesses run their operations. This of course is dependent on the nature of the business.
Machinery and Equipment
The type required by the business is directly related to the nature of the business. Whilst a Maize farmer will require land and tractors etc, an IT company will spend more in favor of electronic equipment, laptops, servers, etc.
Vehicle
The question here is whether it is owned or not. It is a matter of what the business requires in order to transport human resources, its input and output from one location to another with ease and at the lowest cost possible.
Some companies in-source their transportation needs. Others out-source them.
Supplies
These may include but are not limited to stationery, fuel, spare parts, refreshment etc.
Utility
Examples of these are:
Electric power supplyInternet connectivityCommunication services etcOther resources include:
Strong political affiliationPatentsCopyrightsLicenses and PermitsTrademarksJoint Venture RelationshipsPartnershipsetc
Cheers
Bailey Corporation budgets on an annual basis for its fiscal year. Three pounds of raw material are needed to produce each unit of finished product. The following beginning and ending inventory levels (in units) are planned for next year. Beginning Inventory Ending Inventory Raw material 30,000 40,000 Finished goods 70,000 60,000 If Bailey Corporation plans to sell 510,000 units during next year, the number of units it would have to manufacture during the year would be:
Answer:
500,000 units
Explanation:
The Production Budget can be used to determine the number of units that needs to be manufactured in order to meet Sales and Inventory targets as follows :
Production Budget for Next Year
Sales 510,000
Add Closing Finished Goods Inventory 60,000
Total 570,000
Less Opening Finished Goods Inventory (70,000)
Budgeted Production 500,000
Therefore,
The number of units it would have to manufacture during the year would be 500,000
Granite Company purchased a machine costing $137,000, terms 3/10, n/30. The machine was shipped FOB shipping point and freight charges were $3,700. The machine requires special mounting and wiring connections costing $11,700. When installing the machine, $3,200 in damages occurred. Compute the cost recorded for this machine assuming Granite paid within the discount period.
Answer:
s
Explanation:
Stagflation is when there is a BLANK shock that causes high levels of both inflation and unemployment.
Fill in the BLANK:
employment
low
demand
supply
Answer:Supply
Explanation:
Stagflation is described as a situation in which an economy has both an increase in inflation and a stagnation in economic production. Stagflation was first recognized in the 1970s when an oil shock produced fast inflation and high unemployment in many developed economies.
So, Option D is correct as Due to a combination of rising prices and decreased output, a supply shock can generate stagflation.
The other options are incorrect as:
Option A is incorrect as employment shock is not what causes a high level of inflation and unemployment.
Option B is incorrect as a High level of inflation and unemployment is not caused by Low shock.
Option C is incorrect as A demand shock is a sudden, unanticipated incident that briefly raises or diminishes sales volume or service.
Thus Option D is the correct shock that causes high inflation and unemployment.
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As you employ people, you are responsible for paying the employer's share of certain taxes, such as Social Security
(6.2% of wages) and Medicare (2.45% of wages). If your payroll is $250,000 for the year, how much will you owe in these two taxes?
A.) $20,000
B.) $20.625
C.) $21,625
D.) $22,785
Answer: c $21,625. I just took it
$21,625 will you owe in these two taxes. The correct option is C.
Why is it important to have social security?Compulsory payments made to the general government known as social security contributions give recipients the right to receive a (probable) social benefit in the future. The elderly, disabled workers, injured soldiers, and families who have lost a spouse or parent are all helped by Social Security. At present, over 65 million people receive monthly Social Security benefits while approximately 179 million people are employed and contributing to Social Security.
Given
Payroll = $250,000
Medicare Tax Rate = 2.45%
Social Security Tax Rate = 6.2%
Required to Calculate the sum of these two taxes =?
= 250,000 x 8.65(2.45 + 6.2)/ 100
= $21,625
Medicare tax is not deducted from your paycheck if you work for yourself. Typically, you would submit your estimated tax payments on a quarterly basis and use them to pay your self-employment taxes, including Social Security and Medicare taxes.
Thus, the ideal selection is option C.
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