Answer:
The correct answer is (c)
Explanation:
The inventory management is an important task to avoid shortages against the demand. The physical count of inventory is hard and time taking which is why companies usually estimate the inventory rather than spending time to count it. This is the perfect example of a trade-off between timeliness and verifiability. It is a good trade-off because companies usually know the inventory levels.
1. Identify each account as an asset (A), liability (L), or equity (E). 2. Identify whether the account is increased with a debit (DR) or credit (CR). 3. Identify whether the normal balance is a debit (DR) or credit (CR).
Answer:
These are the accounts that need to be classified
a. Interest Revenue
b. Accounts Payable
c. Capital
d. Office Supplies
e. Advertising Expense
f. Unearned Revenue
g. Prepaid Rent
h. Utilities Expense
i. Withdrawals
j. Service Revenue
Explanation:
a. Interest Revenue - Equity - increases with a credit - normal balance at credit.
b. Accounts Payable - Liability - increases with a credit - normal balance at credit.
c. Capital - Equity - increases with a credit - normal balance at credit.
d. Office Supplies - Asset - increases with a debit - normal balance at debit.
e. Advertising Expense - Expense - increases with a debit - normal balance at debit.
f. Unearned Revenue - Liability - increases with a credit - normal balance at credit.
g. Prepaid Rent - Asset - increases with a debit - normal balance at debit.
h. Utilities Expense - Expense - increases with a debit - normal balance at debit.
i. Withdrawals - Asset - decreases wtih a credit (bank account), increases with a debit (cash) - normal balance at debit.
j. Service Revenue - Equity - increases with a credit - normal balance at credit.
In the subject of Business for High School students, we can identify accounts as assets, liabilities, or equity, determine if the accounts are increased with debits or credits, and identify the normal balance for each account.
Explanation:1. Assets (A): Examples of assets include cash, accounts receivable, and inventory. Liabilities (L): Examples of liabilities include accounts payable, loans payable, and accrued expenses. Equity (E): Examples of equity include common stock, retained earnings, and dividends.
2. Debits (DR): Assets are increased with debits. Liabilities and equity are normally decreased with debits.
3. Normal balance: Assets and expenses have debit balances, while liabilities, equity, and revenues have credit balances.
Learn more about Accounts in Business here:https://brainly.com/question/36268454
#SPJ3
Linking your savings account to your checking account is a way to help prevent bouncing checks.
True/False
Answer:
The statement is: True.
Explanation:
Linking a checking account with a debit account allows the account holder to use the money available in the two (2) accounts jointly. In the case, that person runs out of money in one of the accounts, the money available in the other will provide immediate support. It is helpful when avoiding checks wrote for the checking account to bounce due to insufficient funds.
Which of the following hiring procedures provides the most control over the accuracy of information submitted on an employment application?a)Applicants are required to submit unofficial copies of their transcripts along with the application as verification of their educational credentials.b)The hiring organization calls the last place of employment for each finalist to verify the employment length and position held. c)Letters of recommendation which attest to the applicant’s character must be mailed directly to the hiring organization rather than being submitted by the applicant.d)Applicants are required to sign that the information on the applicant is true and correct as a confirmation of the truth of the information in the application
Answer:
The correct answer is letter "B": The hiring organization calls the last place of employment for each finalist to verify the employment length and position held
Explanation:
Hiring companies require several pieces of information to applicants to verify the information they re including in their resumes is valid. Though, to get better job positions, some applicants may manipulate that data. Thus, if the hiring company reaches the last companies where the applicants are stating they worked, the hiring company could verify for how long they worked there, their position and the reason why the applicant is not part of the organization anymore.
The cost of the employee who computes total manufacturing costs would be considered:
a)Manufacturing overhead.
b)Administrative costs.
c)Direct labor.
d)Indirect labor.
Answer:
The correct answer is letter "B": Administrative costs.
Explanation:
Administrative costs are those expenses incurred in a company and do not belong to the production or regular operations of the business. These are costs at the corporate level such as the salaries of senior executives or general services such as accounting, and contracting.
Consider the voluntary contribution to building a fence game discussed in class. Assume that v1 = v2=100 and C=150, and select all that apply.
a. Each player donating 100 is a pure strategy Nash equilibrium in the game.
b. Contributing more than her own valuation is a strictly dominated strategy for each player.
c. It is efficient to build the fence.
d. There are Nash equilibria in which the fence is not built.
Answer:
Correct Answer is Option c
It is efficient to build the fence.
(The net profit is 100 to each for an entire of 200 and the cost is 150, consequently it is efficient. For example both contribute 75, and their evaluation is 100 so both are better off with the barrier built)
a) and b) are incorrect as disbursing more than the own evaluation is not a firmly conquered strategy and each player giving 100 will be corresponding to a total of 200 and it is not a Nash equilibrium as both can reduction what they pay and be better off.
d) There are Nash equilibria in which the fence is not built. (Assume one is paying 0, then the cost to be reserved up by the other one will be 150 and the evaluation is 100, so both paying 0 will be a Nash equilibria as neither have any inducement to deviate and pay alone).
Paulson Company issues 6%, four-year bonds, on December 31, 2018, with a par value of $200,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) 12/31/2015 $ 13,466 $ 186,534 (1) 6/30/2019 11,782 188,218 (2) 12/31/2019 10,098 189,902 Use the above straight-line bond amortization table and prepare journal entries for the following.
(a) The issuance of bonds on December 31, 2018.
(b) The first interest payment on June 30, 2019.
(c) The second interest payment on December 31, 2019.
Answer:
Explanation:
Date 31 Dec 2018
General journal:
Debit Cash 186534
Debit Discounts on bonds payable 13466
Credit Bonds payable 200000
Date June 30 2019
Debit Interest expense (6000+1684) 7684
Credit Cash 6000
Credit Discounts on bonds payable (13466-11782) 1684
Cash paid = Par value of bonds * interest rate * 6months/12months = 200000*0.06*6/12=6000
Date Dec 31 2019
Debit Interest expense 7684
Credit Cash 6000
Credit Discounts on bonds payable (13466-11782) 1684
(a)
On 31 Dec 2018
Cash $186,534
Discounts on bonds payable $13,466
To Bonds payable $200,000
(Being issuance of the bond is recorded)
(b)
On June 30 2019
Interest expense ($6,000 + $1,684) $7,684
Cash $6,000
Discounts on bonds payable ($13,466 - $11,782) $1,684
(Being first interest payment is recorded)
Note:
Cash paid = Par value of bonds × interest rate × 6months ÷ 12months
= $200,000 × 0.06 × 6 ÷ 12
= $6,000
(c)
On Dec 31 2019
Interest expense $7,684
Cash $6,000
Discounts on bonds payable ($13,466 - $11,782) $1,684
(Being second interest payment is recorded)
Learn more: brainly.com/question/20421012
The Taxpayer First Act does NOT change the electronic filing requirement for which type of exempt organization information return?Form 990-N,
a. Annual Electronic Filing Requirement for Small Exempt Organizations (e-Postcard) Form 990-EZ,
b. Short Form Return of Organization Exempt from Income Tax Form 990-PF,
c. Return of Private Foundation Form 990-T,
d. Exempt Organization Business Income Tax Return
Answer:
a. Annual Electronic Filing Requirement for Small Exempt Organizations (e-Postcard) Form 990-EZ,
Explanation:
The new law Taxpayer First Act requires all tax-exempt organizations with a filing requirement Forms 990, 990-PF, 990-EZ, 990-T and Form 8872 (Section 527 political organizations are now required to e-file their periodic contribution and expenditure reports) to do so electronically .
Form 990-N postcard have been required to e-file through the IRS’ website directly or by using a tax software approved by IRS since its inception.
Griffin's Goat Farm, Inc., has sales of $796,000, costs of $327,000, depreciation expense of $42,000, interest expense of $34,000, a tax rate of 21 percent, and paid out $95,000 in cash dividends. The common stock outstanding is 80,000 shares. a. What is the earnings per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the dividends per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
A. Earning Per Share = $3.88 per Share
B. Dividend per Share = $1.99 per Share
Explanation:
Step 1: Calculate the Net Income Before Tax
Sales= $796,000, Cost= $327,000, Depreciation = $42,000, Interest = $34,000
Net Income Before Tax= Income for the period - Expenses
Net Income Before Tax= Sales- Costs- Depreciation- Interest
= $796,000-$327,000-$42,000-#34,000
=$393,000
Step 2: Calculate the Net Income After tax
Net Income After Tax = Net Income Before Tax - Tax for the period
Percentage for Tax (tax rate) = 21%
Tax for the Period = $393,000 x 21%
= $82,530
Net Income After Tax = $393,000- $82, 530
= $310,470
Step 3: Calculate Earnings Per Share
Number of Outstanding Shares = 80,000 Shares
Dividend paid = $95,000
Earnings Per Share = Net Income After Tax/ Number of Shares
= $310,470/80,000
=3.880875 Per Share (intermediate calculations not rounded)
=$3.88 Per Share (rounded to 2 decimal places)
Step 4: Calculate Dividends Per Share
Dividend Per Share = Cash Dividend Paid/ Number of Shares
= $95,000/80,000
=$1.1875 (intermediate calculations not rounded)
=$1.19 Per Share (rounded to 2 decimal places)
"Economic models use many simplifying assumptions. Therefore, they do not apply to the more complex events in the real world."
True or False?
Answer:
False
Explanation:
Ordinarily, economics cannot study the real world in the true state, otherwise we will be on an assignment that will almost know no end. Instead economists resort to theoretical abstraction of the real world which is able to illustrate complex relationship between variables through some analysis (often mathematical).
Economic models are mostly developed to identify some complex real world problems and apply scientific methods so as to gain a better understanding of the world around us.
Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month:Direct materials $ 72,000 Direct labor $ 36,500 Variable manufacturing overhead $ 16,200 Fixed manufacturing overhead 28,900 Total manufacturing overhead $ 45,100 Variable selling expense $ 12,600 Fixed selling expense 19,200 Total selling expense $ 31,800 Variable administrative expense $ 4,300 Fixed administrative expense 25,600 Total administrative expense $ 29,900 Required:1. With respect to cost classifications for preparing financial statements:a. What is the total product cost?b. What is the total period cost?2. With respect to cost classifications for assigning costs to cost objects:a. What is total direct manufacturing cost?b. What is the total indirect manufacturing cost?3. With respect to cost classifications for manufacturers:a. What is the total manufacturing cost?b. What is the total nonmanufacturing cost?c. What is the total conversion cost and prime cost?4. With respect to cost classifications for predicting cost behavior:a. What is the total variable manufacturing cost?b. What is the total fixed cost for the company as a whole?c. What is the variable cost per unit produced and sold?5. With respect to cost classifications for decision making:a. If Dozier had produced 1,001 units instead of 1,000 units, how much incremental manufacturing cost would it have incurred to make the additional unit?
This computation revolves around various cost classifications involving total product cost, total period cost, total direct and indirect manufacturing costs, total manufacturing and non-manufacturing costs, total conversion and prime costs, total variable manufacturing cost and fixed cost, variable cost per unit and incremental manufacturing cost.
Explanation:1.
Total product cost includes direct materials, direct labor, and both variable and fixed manufacturing overhead. It equals $72,000 + $36,500 + $16,200 + $28,900 = $153,600.
Total period cost includes variable and fixed selling expense, and variable and fixed administrative expense. Thus, it equals $12,600 + $19,200 + $4,300 + $25,600 = $61,700.
2.
Total direct manufacturing cost includes direct materials and direct labor, equating to $72,000 + $36,500 = $108,500.
Total indirect manufacturing cost comprises both variable and fixed manufacturing overhead, summing up to $16,200 + $28,900 = $45,100.
3.
Total manufacturing cost equals total product cost, which is $153,600.
Total non-manufacturing cost is the same as total period cost, $61,700.
Total conversion cost comprises direct labor and manufacturing overheads, resulting in $36,500 + $45,100 = $81,600.
The prime cost includes direct materials and direct labor, adding up to $72,000 + $36,500 = $108,500.
4.
Total variable manufacturing cost includes variable manufacturing overhead and direct materials and direct labor. Therefore, it equals $16,200 + $72,000 + $36,500 = $124,700.
Total fixed cost is the sum of fixed manufacturing overhead, fixed selling expense, and fixed administrative expense, hence $28,900 + $19,200 + $25,600 = $73,700.
Variable cost per unit produced and sold equals total variable manufacturing cost divided by the number of units, resulting in $124,700/1,000 = $124.70.
5.
If Dozier had produced 1,001 units instead of 1,000 units, the incremental manufacturing cost would have been the variable manufacturing cost per unit, which is $16,200/1,000 = $16.20.
https://brainly.com/question/33287351
#SPJ3
Think about a country where most economic production results in a terrible smell that makes people sick. What would be the trade-off if the bad result (a terrible smell) were reduced?
Answer:
Explanation:
The bad smell is a cost into the society that result from production of goods. A trade-off is what you give up to benefit from the choice of another alternative. If the bad result was removed, there would be a trade-off between having a good environment and production of commodities for the purpose of growing economically. If production of goods is reduced, it means the quality of life will improve and that enhances development.
If the bad result of a terrible smell is reduced, there would be a trade-off of a decrease in economic production.
Explanation:In a country where most economic production results in a terrible smell, there is a trade-off if the bad result is reduced. The trade-off would be a decrease in economic production. This is because reducing the terrible smell may require implementing measures that could be expensive and time-consuming for businesses, leading to a decrease in productivity and output.
Learn more about Trade-offs in economics here:https://brainly.com/question/32032970
#SPJ3
Nations do not have the sovereignty to takeover (expropriate) the assets of a firm without compensation.
a. True b. False
Answer:
b. False
Explanation:
The concept of "direct expropriation" has never been problematic. It is an old public law institution that finds support in most national legal systems. This form implies a mandatory transfer of the title deed or the immediate occupation or confiscation of a property right. Normally, the State or a third party designated by it directly benefits from the measure. The term brings with it the connotation of a seizure by a governmental authority of the property of a person with the aim of transferring the property to another person, normally the authority that exercises its de jure or de facto power to order the seizure.
Alison receives a phone call from an Easy-Wash customer service representative who wants information on her experience with the washer-dryer combination that she had recently purchased and the overall purchase and installation experience. Alison claims that she is extremely satisfied with the purchase and the company's responsiveness.
This customer service practice by Easy-Wash is undertaken to:
A. offer the customer a substantial assessment of available alternatives by providing a marketing source of information
B. help the customer in the process of alternative evaluation
C. reduce the perceived psychosocial risks associated with the decision to purchase the product
D. reduce the possibility of postpurchase dissonance in Alison's mind
Answer:
The customer service practice by Easy-Wash is undertaken to help the customer in the process of alternative evaluation.
Option: (B)
Explanation:
In order to retain the customer for a long time, the Easy-Wash customer service attempts to plant a thought in the customer's mind about how her decision of buying the Easy-Wash product was a good decision. Through the call made by the customer service executive, the company successfully reinforced the thought in the customer's mind that Easy-Wash is the best choice above all.Easy-Wash's follow-up call to Alison is a customer service strategy to reduce postpurchase dissonance, which is the regret or doubt a consumer might feel after a purchase.
Explanation:The customer service practice undertaken by Easy-Wash in calling Alison to get feedback on her experience with the washer-dryer combination is primarily aimed at reducing the possibility of postpurchase dissonance in Alison's mind. Postpurchase dissonance is a form of regret or doubt that consumers may experience after making a purchase, and it is particularly common with expensive or highly important items. By checking in with customers after their purchase to ensure satisfaction, Easy-Wash is proactively addressing any potential concerns and reassuring the customer about their decision, which can enhance customer loyalty and reduce the likelihood of returns or negative word-of-mouth.
A personnel manager is concerned about absenteeism. She decides to sample employee records to determine if absenteeism is distributed evenly throughout the six-day workweek. The null hypothesis is: Absenteeism is distributed evenly throughout the week. Use the 0.01 level of significance. The sample results are: Day of the Week No. of Employees Absent Monday 12 Tuesday 9 Wednesday 11 Thursday 10 Friday 9 Saturday 9 How many degrees of freedom are there?
Answer:
There are 5 degrees of freedom.
Explanation:
If we want to find the degree of freedom in a chi-square check, the sample size was ' n ' then the number of degrees of freedom to be used in measurements would be n-1.
For a sample size of N=6, measure the degrees of freedom. Subtract 1 (df=6-1=5) from 6. of freedom in chi- square test .
Degree of freedom = (N-1).Degree of freedom = (6-1)Degree of freedom = (5)therefore, the value of df is 5.
A number of activities that are a part of a company’s quality control system are listed below:
a. Product testing.
b. Product recalls.
c. Rework labor and overhead.
d. Quality circles.
e. Downtime caused by defects.
f. Cost of eld servicing.
g. Inspection of goods.
h. Quality engineering.
i. Warranty repairs.
j. Statistical process control.
k. Net cost of scrap.
l. Depreciation of test equipment.
m. Returns and allowances arising from poor quality.
n. Disposal of defective products.
o. Technical support to suppliers.
p. Systems development.
q. Warranty replacements.
r. Field testing at customer site.
s. Product design.
Required:
Classify the costs associated with each of these activities into one of the following categories:
prevention cost, appraisal cost, internal failure cost, or external failure cost.
Answer:
a. Product testing. Appraisal cost
b. Product recalls. External failure cost
c. Rework labor and overhead. Internal failure cost
d. Quality circles. Prevention cost
e. Downtime caused by defects. Internal failure cost
f. Cost of field servicing. External failure cost
g. Inspection of goods. Appraisal cost
h. Quality engineering. Prevention cost
i. Warranty repairs. External failure cost
j. Statistical process control. Prevention cost
k. Net cost of scrap. Internal failure cost
l. Depreciation of test equipment. Appraisal cost
m. Returns and allowances arising from poor quality. External failure cost
n. Disposal of defective products. Internal failure cost
o. Technical support to suppliers. Prevention cost
p. Systems development. Prevention cost
q. Warranty replacements. External failure cost
r. Field testing at customer site. Appraisal cost
s. Product design. External failure cost
Explanation:
Appraisal costs are a specific category of quality control costs. Companies pay appraisal costs as part of the quality control process to ensure that their products and services meet customer expectations and regulatory requirements. These costs could include expenses for field tests and inspections.
External failure costs are those costs incurred due to product failures after they have been sold to customers. Also, they incurred despite the efforts made to prevent them.
Internal failure costs are those costs of quality associated with product failures that are discovered before a product leaves the factory. These failures are discovered through the firm's internal inspection processes
The costs incurred to avoid or minimize the number of defects at first place are known as prevention costs
If there is unemployment, the average wage rate will decline as the unemployed workers choose lower wages rather than going without a job. The demand curve for labor slopes downward and to the right so that more workers would be hired at the lower wage rate, restoring full employment.
1. According to the Keynesian view, this quote is __________.
a.incorrect because widespread unemployment would cause wages to rise, not decline.
b.incorrect because the demand for labor, other things constant, will not be negatively related to wages.
c.incorrect because wages and prices tend to be highly inflexible downward.
d.essentially correct.
Answer:
The correct answer is c. incorrect because wages and prices tend to be highly inflexible downward.
Explanation:
When there is unemployment the demand curve slopes downwards but wages and prices are inflexible downwards. The above statement is therefore incorrect because the wages and prices are highly inflexible and the workers may not be willing to work for a lower pay. This is highly dynamic and depends on the workers choices and needs.
Knowing the types of positive law is important to an understanding of the American legal system. ____________ attempts to provide us with a description that captures the general essence of law, rather than offering a simple list of different kinds of laws.
A. The nature of law
B. Political science
C. Sociology
D. Federalism
E. Jurisprudence
Answer:
The correct answer is letter "E": Jurisprudence.
Explanation:
Jurisprudence typically means the philosophy of law. It refers to the study of that field. The ultimate goal of jurisprudence is to provide an understanding of the nature of law conveying legal reasoning and systems, and the role law plays in a community.
The nature of law is what tries to provide a general understanding of the essence of law, beyond simply listing its various types. It helps explain the core principles, roles, and functions of law in society, contributing to a thorough understanding of any legal system.
Explanation:The correct option for the question would be 'A. The nature of law'. The nature of law attempts to provide us with a description that captures the general essence of law, rather than simply providing a list of various types of laws. It delves deeper to explore the core principles, functions, and roles that the law plays in society. By understanding this, we can gain a more complete comprehension of the workings of any legal system, including the American legal system. In other words, it attempts to define the very essence of what law is.
Learn more about Nature of Law here:https://brainly.com/question/33249735
#SPJ3
At December 31, 2019, Novak Company had a credit balance of $18,000 in Allowance for Doubtful Accounts. During 2020, Novak write off accounts totaling $13,300. One of those accounts ($3,200) was later collected. At December 31, 2020, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $27,200. Prepare journal entries to record the 2017 transactions of Finzelberg Company.
Answer:
================================================================
Accounts titles and explanation Debit Credit
================================================================
Allowance for Doubtful Accounts $13,300
Accounts Receivable $13,300
-----------------------------------------------------------------------------------------------------------
Accounts Receivable $3,200
Allowance for Doubtful Accounts $3,200
-----------------------------------------------------------------------------------------------------------
Cash $3,200
Accounts Receivable $3,200
-----------------------------------------------------------------------------------------------------------
Bad Debt Expense($18,000 - $13,300 + $3,200
= $7900 balance before adjustment); $19300
($27,200 - $7900 = $19300 adjustment)
Allowance for Doubtful Accounts $19300
================================================================
Explanation:
The journal entries to record the 2017 transactions of Finzelberg Company will be given as:
================================================================
Accounts titles and explanation Debit Credit
================================================================
Allowance for Doubtful Accounts $13,300
Accounts Receivable $13,300
-----------------------------------------------------------------------------------------------------------
Accounts Receivable $3,200
Allowance for Doubtful Accounts $3,200
-----------------------------------------------------------------------------------------------------------
Cash $3,200
Accounts Receivable $3,200
-----------------------------------------------------------------------------------------------------------
Bad Debt Expense($18,000 - $13,300 + $3,200
= $7900 balance before adjustment); $19300
($27,200 - $7900 = $19300 adjustment)
Allowance for Doubtful Accounts $19300
================================================================
According to the situational leadership theory developed by Hersey and Blanchard, followers’ readiness to be responsible for their behavior depends on Willingness and ability. Availability of a substitute for task-oriented leadership. Position power of the leader and task structure. Ability and leader-member relations.
Answer:
(A). Willingness and ability
Explanation:
Situational leadership refers to that form of leadership wherein the leader is willing to modify or adapt his leadership style as per the ability of the follower to understand and complete a task.
As per Hersey and Blanchard model, there is no best leadership style and it all depends upon the kind of followers the leaders are dealing with. The ability and understanding of the followers determines which leadership form applies in a given situation.
Willingness refers to the desire to assume responsibility and perform a task while ability refers to how able or successfully a follower performs a task.
So followers readiness to own responsibility for their behavior depends on their willingness and ability.
The situational leadership theory developed by Hersey and Blanchard explains that followers' readiness to be responsible for their behavior is influenced by various factors.
Explanation:The subject of this question is leadership theory. The Hersey and Blanchard situational leadership theory states that followers' preparedness to take responsibility for their actions relies on their capacity and desire to do so.It also depends on the availability of a substitute for task-oriented leadership, the position power of the leader, and the task structure. Ability and leader-member relations are also important factors.
Learn more about Leadership theory here:https://brainly.com/question/34081770
#SPJ6
define the procedures that different computers follow when they transmit and receive data.A) ConsolesB) PortsXC) ProtocolsD) HostsE) Domains
Answer:
C. Protocols
Explanation:
Protocols -
It consists of the set of rules which enables communication between two or more system where the data and information can be transferred is referred to as protocol .
Protocol have some defined syntax and rules .
Protocol can be implemented on both software as well as software.
Hence , from the given statement of the question,
The correct term is protocol .
A company began the year with $500 in raw materials and purchased $10,250 more during the year. If the company has $725 in raw materials at the end of the year, then they would report direct materials used of___________ $ on the schedule of cost of goods manufactured.
Answer:
$10,025
Explanation:
Given that,
Company's Beginning Raw materials = $500
Purchases = $10,250
Company's Ending Raw Materials = $725
Hence,
Direct Materials Used:
= Beginning Raw materials + Purchases - Ending Raw Materials
= $500 + $10,250 - $725
= $10,025
Therefore, they would report direct materials used of $10,025.
The Direct Materials Used in the manufacturing process by the company, according to the data given, is $10,025.
Explanation:The question is about calculating the Direct Materials Used in a company's manufacturing process. It's a concept within managerial accounting. We start with the beginning inventory of the raw materials, here it is $500. Then, we add the purchases of raw materials that is $10,250. This results a total available raw materials of $10,750. From that we subtract the ending inventory of raw materials ($725). Mathematically this will be $10,750 - $725 = $10,025. Therefore, the company would report $10,025 as Direct Materials Used on the schedule of cost of goods manufactured.
Learn more about Direct Materials Used here:https://brainly.com/question/34038217
#SPJ3
What are the benefits of developing security assurance by focusing on the deliverable’s development environment versus its deployment environment?
Explanation:
Focusing on the environment of development is a means of concentrating on the cycle of quality checks which enters the deliverable into development A method of high quality production will lead to the safety of the deliverables.
In the context of delivery the deliverable is generally utilized. Clearly it is essential for a deliverable to perform well in the environment it works in.
Using the data below, compute Dino’s return on sales ratio for the month of January. Net Sales $13,000 Cost of goods sold 5,000 Operating expenses 3,500 Other income 1,000 Income tax expense 1,700 Round answer to the nearest whole percentage.
To compute Dino's return on sales ratio for the month of January, subtract the total expenses from the net sales to find the net income. Then divide the net income by the net sales and multiply by 100 to get the return on sales ratio, which is 13.8%.
Explanation:To compute Dino's return on sales ratio for the month of January, we need to calculate the net income and net sales. Net income is calculated by subtracting operating expenses, cost of goods sold, and income tax expense from net sales. In this case, net income = net sales - (cost of goods sold + operating expenses + income tax expense). Net sales is $13,000, cost of goods sold is $5,000, operating expenses is $3,500, other income is $1,000, and income tax expense is $1,700.
So, net income = $13,000 - ($5,000 + $3,500 + $1,000 + $1,700) = $13,000 - $11,200 = $1,800.
Finally, we can calculate the return on sales ratio by dividing net income by net sales and multiplying by 100 to get the percentage. Return on sales ratio = (net income/net sales) x 100. In this case, return on sales ratio = ($1,800/$13,000) x 100 = 0.138 x 100 = 13.8%.
Suppose you just won the state lottery, and you have a choice between receiving $3,500,000 today or a 20-year annuity of $250,000, with the first payment coming one year from today. What rate of return is built into the annuity? Disregard taxes. Select the correct answer. a. 4.47% b. 2.87% c. 4.07% d. 3.27% e. 3.67%
Answer: The correct answer is e). 3.67%
Explanation: An ordinary annuity is a series of payments made at the end of each period.
The formula for ordinary annuity is PV = PMT × ((1 - (1 + r) ^ -n)/ r)
Where; PMT = the periodic cash payment; r = the interest rate per period; n = the total number of periods and PV = present value.
Therefore; 3500000 = 250000×((1-(1+r)^-20)/r
This will give the rate as 3.67%
Electronic business (e-business) goes beyond e-commerce and e-procurement by using information systems and the Internet to perform business-related tasks and functions. Group of answer choices
accounting, finance, marketing, manufacturing, and human resource activities.
Answer:
All of them
Explanation:
Electronic business has revolutionised the concept of business and the method of doing business. Now a person can sit at home and do business globally. E-business has multiple advantages and routes. It can perform various business activities such as accounting, finance, marketing, manufacturing, and human resource activities. E-business is important because people perform various activities concerning various disciplines.
Scenario 3: Assume that Jacob had not yet sold the office furniture division by the end of 2016. Further, assume that the fair value less costs to sell of the division's assets at December 31, 2016, was $11.60 million and was expected to remain the same when the assets are sold in 2017. The book value of the division's assets was $18.64 million at the end of the year. Required: Under these assumptions, what would Jacob report in its 2016 income statement regarding the office equipment division? (Enter your answer in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).)
Answer:
According to IAS 36 Impairment of Assets says that impairment must be launched when it is clear that the carrying value of the asset is higher than fair value less cost to sell or value in use.
In this question, we can see that the carrying value which is $18.64m is higher than $11.6m by $7.04m (18.64-11.6).
Dr. Impairment Loss $7.04m
CR. Accumulated Impairment Loss $7.04
The (Dr.) impairment Loss Should be Reported in the statement of comprehensive income as an Expense and (CR.) Accumulated Impairment Loss would reduce the Carrying Amount of the Respective Asset in the balance sheet.
Charlie's Chocolates' owner made investments of $60,000 and withdrawals of $25,000. The company has revenues of $93,000 and expenses of $69,000. Calculate its net income.
Answer:
net income = $24000
Explanation:
given data
investments = $60,000
withdrawals = $25,000
revenues = $93,000
expenses = $69,000
solution
we get here net income that is express as
net income = revenue - Expenses ................1
put here value we get
net income = $93,000 - $69,000
net income = $24000
To calculate the net income for Charlie's Chocolates, subtract total expenses ($69,000) from total revenues ($93,000), resulting in a net income of $24,000. This is the profit the company made after all expenses.
Explanation:To calculate Charlie's Chocolates' net income, we need to consider the company's revenues and expenses over a period. The owner's investments and withdrawals do not directly affect the net income calculation as they are considered owner's equity transactions, not revenue or expenses. Here's how you can calculate net income:
Revenues: The total amount the company earned from its business activities, which is $93,000.Expenses: The total cost incurred by the company to generate the revenues, which is $69,000.The net income is then calculated as:
Net Income = Revenues - Expenses
Net Income = $93,000 - $69,000
Net Income = $24,000
This $24,000 is the company's profit after covering all its expenses.
________ is a method of entering a foreign market that involves a company coming together with a foreign company to produce or market products or services.
Answer:
The correct word for the blank space is: Joint venturing.
Explanation:
Two or three international companies plan to provide capital and resources to a common project in a Joint Venture. Developers, manufacturing companies, and service providers usually form a joint venture. Both groups, if successful, split the profits based on the value of their respective contributions to the joint venture.
The supply curve of reserves in an economy is horizontal when :
A) the federal funds rate is greater than the seasonal credit discount rate.
B) the federal funds rate is less than the secondary credit discount rate.
C) the federal funds rate equals the primary credit discount rate.
D) the federal funds rate is less than the primary credit discount rate.
Answer:
Option "C" is the correct answer to the following statement.
Explanation:
In a system, the supply curve of assets is longitudinal when the inflation rate is equivalent to the main credit rate of return.
The fund's rate is the exchange rate companies charge each other on loans that are used to satisfy capital requirements. Often, the inflation rate is puzzled with the rate of return, which is the rate of interest charged directly by the Federal reserve on credit. But they're not quite the same.
Therefore, option "C" is the correct answer.
A purchase of an asset for immediate consumption that will not be paid for until next month would cause liabilities to increase and stockholders’ equity to decrease this month.
O True O False
Answer:
False
Explanation:
When an asset is purchased for immediate consumption and it will be paid for next month the company will have an accounts payable. So in this case the purchase of the asset would increase the assets of the company and increase accounts payable a liability by the same amount. Stock holders equity will remain unchanged by this transaction therefore this statement is false, as this transaction will only affect assets and liabilities.