The Rockwell Corporation uses a periodic inventory system and has used the FIFO cost method since inception of the company in 1979. In 2018, the company decided to change to the average cost method. Data for 2018 are as follows: Beginning inventory, FIFO (6,500 units @ $45.00) $ 292,500 Purchases: 6,500 units @ $51.00 $ 331,500 6,500 units @ $55.00 357,500 689,000 Cost of goods available for sale $ 981,500 Sales for 2018 (11,000 units @ $85.00) $ 935,000 Additional information: The company's effective income tax rate is 30% for all years. If the company had used the average cost method prior to 2018, ending inventory for 2017 would have been $266,500. 8,500 units remained in inventory at the end of 2018. Required: 1. Prepare the journal entry at the beginning of 2018 to record the change in principle. 2. In the 2018–2016 comparative financial statements, what will be the amounts of cost of goods sold and inventory reported for 2018?

Answer:

Consider the following calculations

Explanation:

a,) required reserves = (20/100) x $300 million = $60 million

b.) Since second bank has reserve of $65 million but needed only $60 million so the bank can LEND reserves of $5 million in the federal funds market.

Answer:

$270000

Explanation:

Answer is $270000

Answer:

Option (b) Decline 20%

Explanation:

Data provided in the question:

Firm X has declared a stock dividend that pays one share of stock for every five shares owned

Therefore,

The increase in number of shares

= [ 1 ÷ 5 ] × 100%

= 20%

Thus,

The earnings per share will decrease by the amount of increase in number of shares i.e decrease by 20%

Hence,

Option (b) Decline 20%

The classification required by the Equal Employment Opportunity Act exemplifies the Nominal level of measurement. This is because these classifications simply provide labels for different categories without establishing an order or hierarchy among them.The correct option is A

The classification of employees by gender and national origin as required by the Equal Employment Opportunity Act represents a Nominal level of measurement.

This is because the nominal level of measurement is characterized by data that can be categorized into groups with no order or priority. Here, categories such as 'gender' and 'national origin' are simply labels that distinguish groups without providing a hierarchy or quantifiable difference between these groups.

In the case of other options: Ordinal measurement involves categories with some order (like rankings); Interval measurement entails known and equal differences between values with no fixed zero point; and Ratio measurement has all characteristics of interval measurement but with a fixed zero point

Therefore, based on these definitions, we can ascertain that the level of measurement in this case is nominal.The Correct option is A.

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Answer:

b,

Explanation:

treatment of hazardous waste is preferred to the other options, in a sense they all have side effect. But if waste are treated it reduces the rate of pollution.

The most preferable method to control environmentally hazardous materials is source reduction or elimination, which involves changing manufacturing processes to produce less or no hazardous materials.

The preferred method for controlling environmentally hazardous materials during manufacturing, operations, and disposal is source reduction or elimination. This control strategy is higher on the environmental hierarchy than treatment, recycling, and disposal. While these other methods can also help to mitigate the impact of hazardous materials on the environment, they are less preferable because they do not eliminate the problem at its root. Source reduction involves altering the manufacturing process to lower or eliminate the production of hazardous materials, thereby preventing environmental harm before it begins.

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Answer:

Mandates, Option B is not a part of 5Ms.

Explanation:

The cost of production is the total sum of money spent as the cost of the resources that went into making the final product. This cost can include different factors of production.  

They would include labor (Man), capital (Money), Materials that are processed or assembles to make the final product, Machinery (which actually helps creating the product), Measurement or Method (Each product follows a process or a method for completion). These are the 5Ms of cost of production. So, the M that is not a part of this is Mandates, option B.

Option A, Materiel Solution Analysis Phase

Explanation:

The equipment answer Analysis  part assesses potential solutions for a required capability in associate Initial Capabilities Document (ICD) and to satisfy the phase-specific Entrance Criteria for ensuing program milestone selected by the Milestone call Authority.

The MSA phase is critical to program fulfilment and attaining materiel readiness because it’s the first possibility to persuade systems sup-portability and affordability by using balancing technology opportunities with operational and sustainment requirements. During this phase, various options are analysed to select the materiel solution and broaden the Technology Development Strategy (TDS) to fill any era gaps.

Answer:

1. Current ratio = Current  assets

                        Current liabilities

1.25  = Current assets

           $415,000

Current assets = 1.25 x $415,000

Current assets = $518,759

2. Quick ratio=  Current assets - Inventory

                      Current liabilities      

0.79  = $518,750 - Inventory

            $415,000

0.79 x $415,000 = $518,750 - Inventory

$327,850 = $518,750 - Inventory

Inventory  = $518,750 - $327,850

Inventory  = $190,900

3. Inventory turnover =   Cost of goods sold

                                         Inventory            

9.5  = Cost of goods sold

         $190,900

Cost of goods sold = 9.5 x $190,900

Cost of goods sold = $1,813,550

Explanation:

In the first instance, there is need to apply the formula of current ratio            in which current ratio and current assets have been given with the exception of  current assets. Therefore, current asset is made the subject         of the formula.

In the second case, we will apply the formula of quick ratio, where quick              ratio, current assets and current liabilities were known except the inventory. Inventory becomes the subject of the formula.

Finally, we will apply the formula of inventory turnover, where inventory and inventory turnover were known, cost of goods sold is made the subject of the formula.

Cost of goods sold to a company is $1,813,550. The explanation part is attached in the form of image for better understanding.

The inventory turnover ratio determines how often inventory is sold and replaced over a predetermined period of time. Inventory turnover ratio is Average Inventory divided by Cost of Goods Sold.

Inventory turnover measures the frequency with which a company's stock is changed in relation to its cost of sales. A higher ratio is preferred in general. Slow sales or overstocking may be indicated by a low inventory turnover ratio it is also known as surplus inventory.

The average yearly inventory is essentially inventory turnover. It shows how frequently the business has sold stock over a given period of time. This figure is significant since it allows businesses to plan their next financial activities.

Thus, it is $1,813,550.

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Answer:

option (A) $26,000

Explanation:

Data provided in the question:

Number of shares owned = 1,000

Cost of stocks 3 years ago = $36,000

Number of shares sold = 1,000

Selling value = $10,000

Now,

Loss on sale of 1000 Shares = Sale value - Purchase value

or

Loss on sale of 1000 Shares = $36,000 - $10,000

or

Loss on sale of 1000 Shares = $26,000

Hence,

answer is option (A) $26,000

The correct statements about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files are explained.

The correct statements about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files are:

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Answer:

d. Eliminate contributions to inefficient non-profit organizations

Explanation:

Other listed options are valuable to the question on strategic philanthropy except that on the need to eliminate contributions to inefficient non-profit organizations. No philanthropist would want to offer support to non-profit organizations that are unproductive and inefficient.  

Answer:

4.26%

Explanation:

The computation of the Laurel's effective​ (after-tax) cost of​ debt is shown below:

= Cost of debt × (1 - tax rate)

= 7.1% × (1 - 0.40)

= 4.26%

The cost of debt is also known as the yield to maturity.

For computing it, we deduct the tax rate from the cost of debt so that the accurate rate can come

All other information which is given is not relevant. Hence, ignored it

Answer:

A. Yes, because chatting with others is not inherently part of buying groceries

Explanation:

When a third party benefits from the transaction between two parties its is known as economic transaction. For example when the parents pay for college education for their children, school and the parents are not the only beneficiaries , it is also beneficial for the society as the student would become a good citizen and that would solve many social problems itself.

Standing in line at small town grocery store gives the people chance to socialise. It is part of positive externality because chatting with others is not inherently part of buying groceries, it is an extra benefit for the buyers.

Answer and explanation:

In both cases, in terms of rent and terms of students benefits, it will be better for the college to have two stores, In that way, the college makes sure the profits will be higher than just by having one store on campus and students are benefited because of the variety of books they could find in the two stores, not just in one.

Answer:

The correct answer is letter "C": controls its business independent of other SBUs in the organization.

Explanation:

A Strategic Business Unit or SBU is a division of a larger company that is managed by itself, having its own vision, mission, and goals. Even if the SBU is an independent unit of the business that has its own competitors, it is an important part of the whole company.

Answer:

Explanation:

f(x) = (1/(15,000-10,000))/0 (elsewhere) = 1/5000

a. What is the probability that a $12,000 bid will be accepted?

P(10,000 < x < 12,000) = 2000(1/5000) = 0.40

b. What is the probability that a $14,000 bid will be accepted?

P(10,000 < x < 14,000) = 4000(1/5000) = 0.80

c. What amount should you bid to maximize the probability that you get the property?

$14,000 is my answer.

$14000 bid has a higher probability, hence a greater chance of being accepted

The probability that a $12,000 bid will be accepted is 40%, while a $14,000 bid has an 80% chance of being accepted. To maximize the probability of securing the property, one should bid just over $15,000.

When considering the probability that a bid for a piece of land will be accepted, we assume the competitor's bid is uniformly distributed between $10,000 and $15,000. For the bid to be accepted, it must be higher than the competitor's bid, x.

(a)If you bid $12,000, the probability that this bid exceeds the competitor's bid is the portion of the uniform distribution from $10,000 to $12,000. Since the competitor's bids are uniformly distributed, it's a simple linear calculation: the probability is ($12,000 - $10,000) / ($15,000 - $10,000) = $2,000 / $5,000 = 0.4 or 40%.

(b) If you bid $14,000, we apply the same principle. The probability your bid will be accepted is ($14,000 - $10,000) / ($15,000 - $10,000) = $4,000 / $5,000 = 0.8 or 80%.

(c) To maximize the probability of getting the property, you should bid slightly more than the maximum of the competitor's bid range, which is slightly more than $15,000.

Answer:

The correct answer is B

Explanation:

Return of premium rider is the kind of policy where the add on that returns, the premiums paid if the insured person or outlives the terms and the conditions of the policy.

So, in this case, Insured person dies within the time period, and the beneficiary received the face amount and in addition all the premiums paid. It is the return of premium which is linked with the policy.

Explanation:

1- Virtue Ethics: It can be described as an ethical approach that prioritizes the subjective and instinctive virtues shared by all human beings regardless of cultural traits. Emphasizes generosity, faithfulness, the sense of human generosity, character, and virtues coming from the mind.

An example of the ethical theory of virtue is an unknown person who needs some help and approaches another person who is readily available to help.

2- Duty-based ethics: It is ethics based on human rationality to exercise principles and ethical duty, regardless of positive or negative consequences for oneself.

An example of this ethical theory is entrepreneurs who use some strategies to achieve operational goals, but are aware that they must take responsibility not to exceed ethical values ​​even if it is for the good of the business.

Answer:

Explanation:

The journal entries are shown below:

1. Cash Dividend A/c Dr $122,838                       (62,600 + 16,650) × $1.55

        To Dividend payable A/c  $122,838

(Being the dividend is declared)

2. Dividend payable A/c $122,838

       To Cash A/c $122,838

(Being the dividend is paid)

3.  Cash Dividend A/c  Dr $142,97    (62,600 + 16,650 + 7,400) × $1.65

              To Dividend payable A/c $142,973

(Bring dividend is recorded)

Answer:

efficiency is the main concern for Soliel Panel Distribution. Integrating technology into its operations will enhance internal efficiencies and service delivery. As the organization grows, change is inevitable (Have & Have, 2017). With the crises the company is going through, the IT department should consider incorporating business process management (BPM), while developing SolDistHR. BPM gives an opportunity to look and control organizational processes. Effective implementation of BPM requires organizing the outcomes to ensure proper focus on the goals, correcting and enhancing processes before automation, standardizing processes, enabling continuous change, and improving the existing processes.

As the business grows, it brings new challenges, which make it critical to ensure effective change management. The IT teams should first understand the prevailing status quo within the organization. Creation of a compelling vision of the future is the second stage. The second stage requires the participation of each employee to guarantee smooth organizational operation. In the third stage, building a change coalition, the IT team ensure that they buy the rational for change and be part of the change. In step four, the team mobilizes its commitment and ensuring that there is adequate support for the change. The final stage is evaluation of programs to ensure everything is in order.

The IT team should include finance manager responsible for budgeting and forecasting project activities. Two IT professionals responsible for designing the program to ensure it meets the needed specifications and developing software compatible with other programs. Legal officer ensures that all contractual obligations are met and overseeing all the copyright issues.

Final answer:

Leveraging an IS solution helps Soliel Panel Distribution improve operational efficiency via reduced unit costs, flexible service structures, improved workflow, and enhanced communication. It enables strategic group purchasing and ensures technology deployment is value-driven. These benefits culminate in increased productivity, profitability, and customer satisfaction.

Explanation:

Leveraging an Information System (IS) solution can significantly enhance Soliel Panel Distribution's operational efficiency in numerous ways. By leveraging new technology, Soliel Panel Distribution can drive down unit costs through automation and improved efficiency in production and distribution processes. This results in increased productivity and quality, substantial cost savings, and an edge in competitive pricing.

Furthermore, the ability to re-centralize or decentralize services allows the company to optimize its operational structure based on current needs and market conditions. This flexibility can lead to improved service quality and faster response times, adapting to customer demands efficiently. The use of an IS solution can greatly improve workflow planning and efficiency by streamlining processes, leading to enhanced performance and customer satisfaction.

The concept of group purchasing within an IS framework can be used to negotiate better deals and lower prices for bulk purchases, which in turn increases the company's profitability. Moreover, IS can improve communications and information flow within the organization and with external stakeholders, thus fostering problem-solving and relationship-building.
Finally, ensuring coordinated efforts between IT specialists and operations staff reflects the importance of extracting the most value from deploying Management and Automation Systems (MAS). By being solution-oriented and implementing changes based on scientific analysis of problems, Soliel Panel Distribution can meet customer needs more effectively, thereby increasing the share of the market (SOM) and profitability.

Answer:

The correct answer is letter "D": It relies on projections of revenue and expenses.

Explanation:

The advertising-to-sales ratio is a numeric value indicating how good the publishing strategies of a firm are. According to this approach, having a low ratio is considered optimal because it implies the advertisement helped increase the number of sales exponentially compared to the investment made. In other words, the ratio measures if the publication was successful in terms of revenues over expenses.

The correct statement that is made about the advertising-to-sales ratio approach is that It relies on projections of revenue and expenses.

This is done in order to show if the resources that a firm uses for its advertising has helped them have more sales and the extent to which the sales have been generated.

To get this, the cost of advertising has to be divided by the sales revenue.

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Answer:

a. 1. Debit Accounts receivable $180,000

Credit Sales $180,000

2. Debit cash $125,000

Credit Accounts receivable $125,000

3. Debit Sales return $20,000

Credit $20,000

4. Debit Provision for bad debts expense $35,000

Credit Accounts receivable $35,000

5. Debit Accounts receivable $ $2,500

Credit Provision for bad debts expense $2,500

Debit Cash $2,500

Credit Accounts receivable $2,500

B. Debit Bad debts expense $27,500

Credit provision for bad debt expense $27,500

Explanation:

1. Sale on account will increase the accounts receivable. So we have to debit accounts receivable and credit to sales in the amount of $180,000

2. Collections will decrease the accounts receivable due payments made by the customer. So we have to debit cash and credit accounts receivable by $125,000

3. Sales return is a contra asset account that will decrease the accounts receivable and also the net sales. So we will debit sales return and credit accounts receivable in the amount of $20,000

4. Write offs will decrease the provision for bad debts account as well as the accounts receivable accounts by $35,000

5. Recovery of bad debts previously written off has no effect in accounts receivable but will increase the provision for bad debts due to reversal of entry previously made. First, we will reverse the original written off entry. Debit Accounts receivable and credit provision for bad debts expense in the amount of $2,500. Then we will record the collection by debiting cash and crediting accounts receivable in the amount of $2,500

B. Let’s determine the balance of accounts receivable first,

Beg. $275,000 + 180,000 sale on account - 125,000 collection - 20,000 sales return - 35,000 write-off = $275,000

Therefore, $275,000 x 10% = $27,500

Entry:

Debit Bad debts expense $27,500

Credit provision for bad debts expense $27,500

Answer:

Explanation:

Cash flow is 530 , 690 , 875 and 1090 in 1st to 4 th year respectively

discount rate = 10 %

NPV = 530/ 1.10 + 690 / (1.10)² + 875/(1.10)³ + 1090/ (1.10)⁴

= (530x1.10³ + 690 x 1.10² + 875x 1.10 + 1090)/ 1.10⁴

= (705.43 x  +834.9 +962.5 +1090)1.10⁴

= 3592.83 / 1.10⁴

= 2453.95

Discount rate 18%

NPV = 530/ 1.18 + 690 / (1.18)² + 875/(1.18)³ + 1090/ (1.18)⁴

= (530x1.18³ + 690 x 1.18² + 875x 1.18 + 1090)/ 1.18⁴

= (870.80696 +960.756 +1032.5 +1090)1.18⁴

= 2039.46

Discount rate 24%

NPV = 530/ 1.24 + 690 / (1.24)² + 875/(1.24)³ + 1090/ (1.24)⁴

= (530x1.24³ + 690 x 1.24² + 875x 1.24 + 1090)/ 1.24⁴

1010.51072+ 1060.944+1085+1090 / 1.24⁴

= 1796.14

Answer:

19.952%

Explanation:

For computing the expected rate of return, first we have to determine the beta which is shown below:

= Stock Auto desk weightage × stock Auto desk beta + Stock Costco weightage × stock Costco beta

= 0.70 × 2.20+ 0.30 × 0.68

= 1.54 + 0.204

= 1.744

In this question, we apply the Capital Asset Pricing Model (CAPM) formula which is shown below

Expected rate of return = Risk-free rate of return + Beta × (Market rate of return - Risk-free rate of return)

= 6% + 1.744 × (14% - 6%)

= 6% + 1.744 × 8%

= 6% + 13.952%

= 19.952%

Final answer:

The expected return of a portfolio consisting of 70% Autodesk stock and 30% Costco stock, calculated using the CAPM model, is 19.172%.

Explanation:

The question involves calculating the expected return of a portfolio using the Capital Asset Pricing Model (CAPM). CAPM formula is given by E(Ri) = Rƒ + β(E(Rm) – Rƒ), where E(Ri) is the expected return of investment i, Rƒ is the risk-free rate, β is the beta of the investment, and E(Rm) is the expected return of the market. Given that the risk-free rate is 6%, the expected return of the market is 14%, Autodesk stock has a beta of 2.20, Costco stock has a beta of 0.68, and the portfolio consists of 70% Autodesk and 30% Costco, we calculate:

Expected return for Autodesk stock = 6% + 2.20(14% – 6%) = 23.6%

Expected return for Costco stock = 6% + 0.68(14% – 6%) = 11.44%

Expected return for the portfolio = 70% * 23.6% + 30% * 11.44% = 19.172%

Therefore, according to CAPM, the expected return of the portfolio is 19.172%.

Answer:

It is more convenient to continue processing.

Explanation:

Giving the following information:

Cobe Company has already manufactured 17,000 units of Product A for $25 per unit. The 17,000 units can be sold at this stage for $450,000. Alternatively, the units can be further processed at a $280,000 total additional cost and be converted into 5,800 units of Product B and 11,100 units of Product C. Per unit selling price for Product B is $100 and for Product C is $56.

We need to determine whether it is more convenient to sell the units now, or continue processing.

Sell now:

Income= 450,000 - (17,000*25)= $25,000

Continue processing:

Income= sales produc B + sales product C - joint cost - Product A cost

Income= 5,800*100 + 11,100*56 - 280,000 - (17,000*25)= $496,600

It is more convenient to continue processing.

Answer:

$800,000

Explanation:

The total amount received by Ms. Jones (A) is given by the following expression:

[tex]A = I-D + (S-(I-D))*0.6[/tex]

Where 'I' is Ms. Jones initial investment, 'D' are cash distributions previously received and 'S' is the cash flow from sales.

The amount received by Ms. Jones is:

[tex]A = 600,000-100,000 + (1,000,000-(600,000-100,000))*0.6\\A= 800,000[/tex]

She would receive $800,000.

The third goal Munchery achieved through implementing a CRM system was the capability to analyze customer data for strategic decision making and product development. This data provided insight into customer trends, habits and preferences, helping the company devise effective business strategies and new product offerings.

The Customer Relationship Management (CRM) system Munchery adopted aimed to accomplish three major goals: capturing customer information, facilitating relationship management, and a third goal which was to analyze customer behavior for strategic decision-making and product development. The data captured by the CRM system allowed Munchery to analyze trends, preferences, and eating habits across their customer base. This information directly fed their strategic decision making and influenced the development of new dishes and meal plans. Hence, the third overarching goal achieved by implementing the CRM system was leveraging valuable customer data to guide business strategy and future product offerings.

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Answer:

option (B) 31,500

Explanation:

Data provided in the question:

Annual earning = $24,000

Worth of uniform = $350

Training worth = $850

Contribution to 401(k) = half of  4% of earning

= 0.5 × 0.04 × $24,000

= $480

monthly amounts toward her insurance:

health = $125

Life = $50

AD&D = $30

Total annual amounts toward her insurance = 12 × [ $125 + $50 +$30 ]

= 12 × 205

= $2,460

Therefore,

Employer taxes and insurance = 14% of $24,000

= $3,360

Therefore,

Cordelia's total annual compensation

= $24,000 + $350 + $850 + $480 + $2,460 + $3,360

= $31,500

Hence,

Answer is option (B) 31,500

Answer:

d. increase the severity of the Great Depression by causing other countries to retaliate, and thus leading to a decline in exports.

Explanation:

Although the main purpose of the Smoot-Hawley Tariff Act was to impose tariffs on imported goods, it followed with reciprocally respond. Since foreign countries were hindered in exporting to the US, they imposed tariffs on the US afterward.

Above all, all economists and historians agreed that this act increased the negative effects of the Great Depression.

Answer:

$80,704

Explanation:

Data provided in the question:

Budgeted Price = $20,176 per pool

Budgeted quantity = 12 pools

Actual quantity = 16 pools

Actual price = $20,992 per pool

Now,

Sales Volume Variance

= ( Actual Quantity - Budgeted Quantity) × Budgeted price

Thus,

Sales Volume Variance for April = ( 16 - 12 )  × $20,176

or

Sales Volume Variance for April = $80,704

Final answer:

The Sales Volume Variance for April is $80,704.

Explanation:

To calculate the Sales Volume Variance, you need to compare the budgeted sales volume with the actual sales volume.

The formula for Sales Volume Variance is (Actual Quantity - Budgeted Quantity) x Budgeted Price.

In this case, the budgeted quantity is 12 pools and the actual quantity is 16 pools, while the budgeted price is $20,176 per pool.

Therefore, the Sales Volume Variance for April is -

= (16 - 12) x $20,176

= $80,704.