Answer:
Office management helps to maintain a close relationship between different department of people. It regularly supplies order,command and instruction to different people.It oerformsvarious function like planning , organising,controling, staffing,supervising, motivating,and effective leadership.
Explanation:
i hope this will help you
Your landscaping company can lease a truck for $7,800 a year (paid at year-end) for 6 years. It can instead buy the truck for $38,000. The truck will be valueless after 6 years. The interest rate your company can earn on its funds is 7%.a. What is the present value of the cost of leasing?b. Is it cheaper to buy or lease? c. What is the present value of the cost of leasing if the lease payments are an annuity due, so the first payment comes immediately? d. Is it now cheaper to buy or lease? a) Present value of lease b) Is it cheaper to buy or lease? c) Present value of lease d) Is it now cheaper to buy or lease?
Answer:
Landscaping Company
a. The present value of the cost of leasing is:
= $37,179.01.
b. It is cheaper to lease than to buy.
c. The present value of the cost of leasing if the lease payments are an annuity due is:
= $39,781.54.
d. It is now cheaper to buy than to lease.
Explanation:
a) Data and Calculations:
Annual cost of leasing a truck = $7,800
Lease period = 6 years
Purchase cost of the truck = $38,000
Salvage value after 6 years = $0
Interest rate on company funds = 7%
N (# of periods) 6
I/Y (Interest per year) 7
PMT (Periodic Payment) 7800
FV (Future Value) 0
Results
PV = $37,179.01
Sum of all periodic payments = $46,800.00
Total Interes = $9,620.99
Present of an Annuity Due:
Results
PV = $39,781.54
Sum of all periodic payments = $46,800.00
Total Interest = $7,018.46
Titan Fishing Boats had product sales for the current year as follows: Q1 2,000 boats; Q2 2,400 boats; Q3 1,800 boats; Q4 1,200 boats. Current selling price is $5,000 per boat. A strong economy and specific market initiatives at Titan for next year indicate that sales volume is expected to increase by 2% per quarter cumulatively for each quarter and sales price will increase by 4% per boat. The sales revenue forecast for Q4 next year would be:
Answer:
Titan Fishing Boats
The sales revenue forecast for Q4 next year would be
= $6,364,800
Explanation:
a) Data and Calculations:
Current Year Next Year
Q1 2,000 boats 2,040 boats (2,000 * 1.02)
Q2 2,400 boats 2,448 boats (2,400 * 1.02)
Q3 1,800 boats 1,836 boats (1,800 * 1.02)
Q4 1,200 boats 1,224 boats (1,200 * 1.02)
Expected increase per quarter = 2% cumulatively
Selling price per boat = $5,000
Expected increase in selling price = 4% ($200)
New selling price per boat = $5,200
The sales revenue forecast for Q4 next year would be = $6,364,800 ($5,200 * 1,224)
Trak Corporation incurred the following costs while manufacturing its bicycles.
Bicycle components $100,000 Advertising expense $45,000
Depreciation on plant 60,000 Property taxes on plant 14,000
Property taxes on store 7,500 Delivery expense 21,000
Labor costs of assembly-line workers 110,000 Sales commissions 35,000
Factory supplies used 13,000 Salaries paid to sales clerks 50,000
(a) Identify each of the above costs as direct materials, direct labor, manufacturing overhead, or period costs.
Bicycle components
Trak Corporation incurred the following costs whil Direct LaborPeriod CostsDirect MaterialsManufacturing Overhead
Depreciation on plant
Trak Corporation incurred the following costs whil Direct MaterialsPeriod CostsManufacturing OverheadDirect Labor
Property taxes on store
Trak Corporation incurred the following costs whil Direct MaterialsManufacturing OverheadPeriod CostsDirect Labor
Labor costs of assembly-line workers
Trak Corporation incurred the following costs whil Direct MaterialsManufacturing OverheadDirect LaborPeriod Costs
Factory supplies used
Trak Corporation incurred the following costs whil Period CostsManufacturing OverheadDirect MaterialsDirect Labor
Advertising expense
Trak Corporation incurred the following costs whil Manufacturing OverheadDirect LaborPeriod CostsDirect Materials
Property taxes on plant
Trak Corporation incurred the following costs whil Manufacturing OverheadDirect LaborPeriod CostsDirect Materials
Delivery expense
Trak Corporation incurred the following costs whil Direct MaterialsPeriod CostsManufacturing OverheadDirect Labor
Sales commissions
Trak Corporation incurred the following costs whil Manufacturing OverheadPeriod CostsDirect LaborDirect Materials
Answer:
Trak Corporation
Direct materials:
Bicycle components $100,000
Direct labor:
Labor costs of assembly-line workers $110,000
Manufacturing overhead:
Factory supplies used $13,000
Property taxes on plant 14,000
Depreciation on plant 60,000
Total manufacturing overhead $87,000
Period costs:
Advertising expense $45,000
Property taxes on store 7,500
Delivery expense 21,000
Sales commissions 35,000
Salaries paid to sales clerks 50,000
Total period costs $158,500
Explanation:
a) Data and Calculations:
Bicycle components $100,000
Advertising expense $45,000
Depreciation on plant 60,000
Property taxes on plant 14,000
Property taxes on store 7,500
Delivery expense 21,000
Labor costs of assembly-line workers 110,000
Sales commissions 35,000
Factory supplies used 13,000
Salaries paid to sales clerks 50,000
b) Direct materials refer to materials consumed during the manufacturing process, which are easily identified, measured, and charged to the product.
Direct labor refers to factory workers' time consumed during the production process.
Manufacturing overhead includes all indirect materials, labor, and other costs which cannot be directly traced to a unit of the manufactured product.
Period costs include administrative, selling, and distribution costs incurred during a financial period.
The College Bookstore sells a unique calculator to college students. The demand for this calculator is constant at 20 units per day. The lead time for this calculator is variable at an average of 9 days with a standard deviation of 2 days. Compute the statistical reorder point that results in a 95 percent in-stock probability. Choose the closest answer.
a. 182 units
b. 226 units
c. 246 units
d. 26 units
e. 46 units
Answer:
c. 246 units
Explanation:
Daily demand, d = 20 units
Service Level = 95 % = 0.95. Z (according to Standardized Normal Curve) = 1.65
Average Lead Time, LT-bar = 9 days
Standard deviation of Lead Time, σLT = 2 days
Reorder Point = Expected Demand during Lead time + Safety Stock
Reorder Point = d*LT-bar + z*d*σLT
Reorder Point = (20*9) + (1.65*20*2)
Reorder Point = 180 + 66
Reorder Point = 246 units
What is expansionary policy used for?
Answer:
to stimulate an economy
Explanation:
it stimulates the economy by boosting demand through monetary
The Fun Tyme Toy Company discovers that one of its products can easily break, exposing children to potential injury from the sharp parts. Under the Consumer Product Safety Act of 1972, how long does Fun Tyme have to report this defect to the Consumer Product Safety Commission
Answer:
The Fun Tyme Toy Company
According to the Consumer Product Safety Act of 1972, Fun Tyme has 24 hours following the discovery of the defect to report it to the Consumer Product Safety Commission.
Explanation:
The purpose of creating the Consumer Product Safety Commission by Congress in 1972 is to ensure that consumers are adequately protected from unreasonable risks of injuries associated with all types of consumer products. The reasonable time to report a defect in any consumer product is within 24 hours after the discovery is made. There are penalties for failure to comply with existing regulations on consumer product safety.
The majority of the public would consider it unethical to increase executive salaries significantly while minimum wage employees struggle to pay basic bills, making Walmart’s pay decisions partly dependent on Multiple Choice social consensus. magnitude of consequences. temporal immediacy. concentration of effect. probability of effect.
Answer:
social consensus
Explanation:
Social consensus determined how much agreement should be there due to which the act i.e. proposed should become non-ethical. Also it represent the dimension of the social pressure that should be applied for gauge the moral intensity
So as per the given situation, the above should be the answer and the same should be considered
Classified stock differentiates various classes of common stock, and using it is one way companies can meet special needs such as when owners of a start-up firm need additional equity capital but don't want to relinquish voting control.A. TrueB. False
Answer: True
Explanation:
Classified stocks are referred to as the stocks of a publicly-traded company which possess different classes of stocks. Classified shares typically has some special privileges, like the dividend rights and the enhanced voting rights.
The use of classified stock allows the founders of a company to have control over the company despite not having to own the majority of the common stock. Therefore, the correct option is True.
Ruiz Co. provides the following sales forecast for the next four months. Sales (units) April 560 May 640 June 590 July 680 The company wants to end each month with ending finished goods inventory equal to 20% of next month's forecasted sales. Finished goods inventory on April 1 is 112 units. Prepare a production budget for the months of April, May, and June.
The company wants to end each month with ending finished goods inventory equal to 20% of next month's forecasted sales. Finished goods inventory on April 1 is 112 units. Prepare a production budget for the months of April, May, and June. May June RUIZ CO. Production Budget For April, May, and June April Next month's budgeted sales (units) Ratio of inventory to future sales Budgeted ending Inventory (units) Budgeted unit sales for month Required units of available production Budgeted beginning inventory (units) Units to be produced.
Answer:
Details April May June
Unit to be produced 576 630 608
Explanation:
The production budget For April, May, and June can be prepared as follows:
Ruiz Co.
Production Budget
For April, May, and June
Details April May June
Next month's budgeted sales (A) 640 590 680
Ratio of inventory to future sales (B) 20% 20% 20%
Budgeted ending inventory (C = A * B) 128 118 136
Budgeted unit sales for month (D) 560 640 590
Req'd units of avail. production (E = C + D) 688 758 726
Budgeted beginning inventory (F) 112 128 118
Unit to be produced (G = E - F) 576 630 608
Assume that Amazon sells the MacBook Pro, a computer produced by Apple, for a retail price of $1,500. Amazon arranges its operations such that customers receive products directly from Apple Stores rather than Amazon. Customers purchase from Amazon using credit cards, and Amazon forwards cash to Apple equal to the retail price minus a $150 commission that Amazon keeps. In this arrangement, how much revenue will Amazon recognize for the sale of one MacBook Pro?
Answer: $150
Explanation:
Based on the information given in the question, the journal entry provided will be:
Debit Customer $1500
Credit Account Payable (Apple) $1350
Credit Commission income/Revenue $150
Therefore, the revenue that Amazon will recognize for the sale of one MacBook Pro is $150.
Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 5 bars and the price is Rs.600 per bar. In year 2, the quantity produced is 6 bars and the price is Rs.750 per bar. In year 3, the quantity produced is 7 bars and the price is Rs.825 per bar. Year 1 is the base year. What is nominal GDP for year 1? What is real GDP for year 2? What is real GDP for year 3? What is the GDP deflator for year 2? What is the GDP deflator for year 3? What is the percentage growth rate of real GDP from year 2 to year 3? (Please avoid typing % sign)
Answer:
An apple, potato, and onion all taste the same if you eat them with your nose plugged
Explanation:
Smith Corporation has two service departments: Data Processing and Personnel. Data Processing provides more service than does Personnel. Smith Corporation also has two production departments: A and B. Data Processing costs are allocated on the basis of assets used while Personnel costs are allocated based on the number of employees. Department Direct Costs Employees Assets used Data Processing $1,000,000 15 $700,000 Personnel 300,000 8 230,000 A 500,000 12 125,000 B 330,000 20 220,000 Refer to Smith Corporation. Using the direct method, what amount of Data Processing costs is allocated to A (round to the nearest dollar)
Answer:
$474,819
Explanation:
The computation of the amount of Data Processing costs is allocated to A is shown below:
Personal Cost
= 300,000 ÷ (12+20) × 12
= $112,500
And, the Data Processing Cost is
= 1000,000 ÷ (125,000 + 220,000) × 125,000
= 362,319
So, the Total cost is $474,819
behavior of viettel's customer
Answer:
Some behaviors of viettel's customer are:-
Complex buying behavior.Dissonance-reducing buying behavior.Habitual buying behavior.Variety seeking behavior.Effects of recognizing accrued interest on financial statements LO 9-1
Bill Darby started Darby Company on January 1, Year 1. The company experienced the following events during its first year of operation:
1. Earned $1,300 of cash revenue.
2. Borrowed $2,400 cash from the bank.
3. Adjusted the accounting records to recognize accrued interest expense on the bank note. The note, issued on September 1, Year 1, had a one-year term and an 10 percent annual interest rate.
Required:
a. What is the amount of interest payable at December 31, Year 12?
b. What is the amount of interest expense in Year?
c. What is the amount of interest paid in Year?
d. Use a horizontal statements model to show how each event affects the balance sheet income statement, and statement of cash flows.
Answer:
Darby Company
a. The amount of the interest payable at December 31, Year 1 is $80.
b. The amount of the interest expense in Year 1 is $80.
c. The amount of interest paid in Year 1 is $0.
d. Horizontal Statements Model:
Balance Sheet Income Statement Statement of
Cash Flows
Assets = Liabilities + Equity Income = Revenue - Expenses
1. +$1,300 = 0 + $1,300 $1,300 = $1,300 OA cash inflow
2. +$2,400 = $2,400+ 0 FA cash inflow
3. 0 = $80 + ($80) ($80) = 0 - ($80) None
$3,700 = $2,480 + $1,220 $1,220 = $1,300 - $80
Explanation:
a) Data and Calculations:
1. Cash $1,300 Revenue $1,300
2. Cash$2,400 10% Bank Note Payable $2,400
3. Interest Expense $80 Interest Payable $80 )$2,400 * 10% * 4/12)
The costs of materials consumed in producing good units in the Forming Department of Thomas Company were $76,000 and $77,350 for September and October, respectively. The number of equivalent units produced in September and October was 800 tons and 850 tons, respectively. Evaluate the change in the cost of materials between the two month
Answer and Explanation:
The computation of the evaluation of change in the cost of materials between the two month is given below;
The Cost per unit in September is
= 76,000 ÷ 800
= $95 per unit
And,
Cost per unit in October = $77,350 ÷ 850
= $91 per unit
Now
Cost per unit of materials has been decreased in October by $4 per unit or instead of is by
= (4 ÷ 95 × 100)
= 4.21% .
What is Walmart's Times Interest Earned Ratio for the year of 2018 (round it to 3 numbers after the decimal point -> 0.581)
Answer:
17.10 times
Explanation:
Complete word "Walmart's reported the following amounts on its 2018 income statement E(Click the icon to view the amounts.) What is Walmart's times-interest-earned ratio for 2018? (Round to two decimals.) Times-interest-earned ratio X Data Table Year Ended December 31, 2018 42,000 Net income 6,300 Income tax expense 3,000 Interest expense Print Done"
EBIT = Net Income + Interest expenses + Income tax expense
EBIT = $42,000 + $3,000 + $6,300
EBIT = $51,300
Times Interest Earned Ratio = EBIT / Interest Expenses
Times Interest Earned Ratio = $51,300 / $3,000
Times Interest Earned Ratio = 17.10 times.
Explain why production and logistics decisions are of central importance to many multinational businesses.
Explanation:
This is due to the fact that the MNC must choose where to manufacture products in order to get the optimum mix of productivity and transportation costs. Firms must decide which nation or countries they will produce in. They must, however, consider the difficulties of transporting commodities from one nation to another.
The following information is available for Baker Industries: Cost of goods manufactured $ 320,000 Beginning finished goods inventory 45,000 Ending finished goods inventory 35,000 Compute the cost of goods sold.
Answer:
Baker Industries
The Cost of goods sold for the period is:
= $330,000
Explanation:
a) Data and Calculations:
Cost of goods manufactured $ 320,000
Beginning finished goods inventory 45,000
Ending finished goods inventory 35,000
Cost of goods sold:
Beginning finished goods inventory $45,000
Cost of goods manufactured 320,000
Ending finished goods inventory (35,000)
Cost of goods sold = $330,000
Vermicelli Company plans to sell 300,000 units of finished product in July and anticipates a growth rate in sales of 5% per month. The desired monthly ending inventory in units of finished product is 80% of the next month's estimated sales. There are 250,000 finished units in inventory on June 30th. Vermicelli Company's production requirement in units of finished product for the three-month period ending September 30th is: (CMA adapted)
Assume that the Peanut Division of Trail Mix Foods wants to purchase an additional 20,000 pounds of raisins from the Raisin Division. Raisin will be able to increase its profit by accepting any transfer price above:
State 3 advantages in setting up a business in Maldives?
Answer:
1. No restrictions on sending their earning profit to their own country
2. It takes maximum of 30 days to complete the entire process of company registration in Maldives
3. The government encourages projects that are environmentally friendly
A company uses 30% common stock and 70% long-term debt to finance its operations. An increase in which one of the following will increase the capital structure weight of debt, all else equal?a. Number of bonds outstandingb. Market price of the common stockc. Book value of the outstanding shares of common stockd. Number of shares of stock outstanding
Answer:
a. Number of bonds outstanding
Explanation:
In the case when the firm wants to issue the new bonds but keeping the equity portion constant so the debt weight should increased from 70% to the higher weightage
So as per the given situation, the option a is correct as it also increased the number of outsanding bonds
Therefore the same is to be considered
Hence, the other options seems wrong
Cost of direct materials used in production $18,573 Direct labor 23,083 Factory overhead 33,632 Work in process inventory, March 1 24,104 Work in process inventory, March 31 18,188 Finished goods inventory, March 1 23,172 Finished goods inventory, March 31 26,346 a. Determine the cost of goods manufactured. $fill in the blank 1 b. Determine the cost of goods sold.
Answer:
cost of goods manufactured= $81,204
Explanation:
Giving the following information:
Cost of direct materials used in production $18,573
Direct labor 23,083
Factory overhead 33,632
Work in process inventory, March 1 24,104
Work in process inventory, March 31 18,188
To calculate the cost of goods manufactured, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 24,104 + 18,573 + 23,083 + 33,632 - 18,188
cost of goods manufactured= $81,204
The process mapping is a
____ diagram.
Answer:
I hope u understand and thank you for your questions
Sheffield Corp. estimates its sales at 240000 units in the first quarter and that sales will increase by 24000 units each quarter over the year. They have, and desire, a 25% ending inventory of current quarter's sales in units. Each unit sells for $35. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remainder is received in the quarter following sale. Production in units for the third quarter should be budgeted at
Answer:
Sheffield Corp.
The Production in units for the third quarter should be budgeted at:
= 294,000 units.
Explanation:
a) Data and Calculations:
Quarter 1 Quarter 2 Quarter 3 Quarter 4
Sales units 240,000 264,000 288,000 312,000
Ending inventory 60,000 66,000 72,000 78,000
Units available for sale 300,000 330,000 360,000 390,000
Less Beginning inventory 0 60,000 66,000 72,000
Production units 300,000 270,000 294,000 318,000
ranson Inc. has sold product to the Brandywine Company, a major customer, for $20,000. As a courtesy to Brandywine, Branson has agreed to take a note due in two years for half of the amount due. a. What is the effective price of the transaction to Branson if the interest rate is. (1) 6%, (2) 8%, (3) 10%, or (4) 12%
Answer: See explanation
Explanation:
The effective price of the transaction to Branson based on the interest rate given will be:
1. PV = FV [PVF6,2] = $10,000(0.89) = $8,900
Therefore, $8,900 + $10,000 = $18,900
Effective Discount will be:
= (20000 - 18900) / 20000 × 100
= 1100/20000 × 100
= 0.055
= 5.5%
2) PV = FV [PVF8,2] = $10,000(0.8573) = $8,573
Therefore, $8,573 + $10,000 = $18,573
Effective Discount will be:
= (20000 - 18573)/20000 × 100
= 1427/20000 × 100
= 0.07135
= 7.135%
3) PV = FV [PVF10,2] = $10,000(0.8264) = $8,264
Therefore, $8,264 + $10,000 = $18,264
Effective Discount will be:
= (20000 - 18264)/20000 × 100
= 1736/20000 × 100
= 0.0868 × 100
= 8.68%
4) PV = FV [PVF12,2] = $10,000(0.7972) = $7,972
Therefore, $7,972 + $10,000 = $17,972
Effective Discount will be:
= (20000 - 17972)/20000 × 100
= 2028/20000 × 100
= 0.1014 × 100
= 10.14%
The practice of intentionally targeting borrowers in poor or underserved areas with expensive high-cost loans is known as:
Answer:
Reverse redlining
Explanation:
Reverse redlining means the practice that target the neighborhood specially the non-white for the greater prices or lended the non-fair terms like lending used for predatory with respect to the subprime mortgage
So as per the given situation, it is the reverse redlining as it is targetted to the borrowers or the areas having high cost loans
So, the same should be considered
During the busiest season of the year, your customer support center receives a higher call volume than planned. However, you can't hire more staff. how would you address the extra volume?
A tell your team to take their calls more quickly
B split shifts with the management team to take on some of the extra volume
C mandate that everyone on the team works overtime
Albatross Company purchased a piece of machinery for $60,000 on January 1, 2019, and has been depreciating the machine using the double-declining-balance method based on a five-year estimated useful life and no salvage value. On January 1, 2021, Albatross decided to switch to the straight-line method of depreciation. The salvage value is still zero and the estimated useful life did not change. Ignore income taxes.
Required:
a. What type of accounting change is this, and how should it be handled?
b. Prepare the journal entry to record depreciation for 2017. Show all calculations clearly.
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Answer:
Currently, the income statement for company reflects a total period cost for depreciation of $7,876,000
"On April 3, Erin Garnder received her bank statement showing a balance of $2,087.93 Her checkbook showed a balance of $1,493.90. Outstanding check were $224.15, $327.80, $88.10, $122.42, and $202.67. There was an $8.00 service charge, and the deposits in transit amounted to $813.11. There was an electronic payroll deposit of $450.00. The reconciled balance is:"
Answer:
$1,935.90
Explanation:
We prepare a Bank Reconciliation Statement to determine the reconciled balance as follows :
Erin Garnder
Bank Reconciliation Statement
Balance as per Bank Statement $2,087.93
Add Outstanding Lodgments $813.11
Less Unpresented checks
($224.15 + $327.80 + $88.10 + $122.42 + $202.67) ($965.14)
Balance as per Cash Book $1,935.90
Therefore,
The reconciled balance is: $1,935.90