During 2021, Bramble Corp. had the following activities related to its financial operations: Carrying value of convertible preferred stock in Bramble, converted into common shares of Bramble $ 539000 Payment in 2021 of cash dividend declared in 2020 to preferred shareholders 280000 Payment for the early retirement of long-term bonds payable (carrying amount $3929000) 3974000 Proceeds from the sale of treasury stock (on books at cost of $388000) 451000 The amount of net cash used in financing activities to appear in Bramble's statement of cash flows for 2021 should be

Answers

Answer 1

Answer:

the net cash used in financing activities is -$3,803,000

Explanation:

The computation of the net cash used in financing activities is shown below:

= Payment of cash dividend - payment for early retirement + proceeds from the sale of treasury stock

= -$280,000 -$3,974,000 +  $451,000

= -$3,803,000

hence, the net cash used in financing activities is -$3,803,000

WE simply applied the above formula


Related Questions

3) Assume you decide you should invest at least part of your money in large capitalization stocks of companies based in the United States. What are the advantage and disadvantages of choosing the Bledsoe Large company stock fund compared to the Bledsoe s

Answers

Answer:

Advantage : Outperforming the market

Disadvantage : Underperforming in the market

Explanation:

Advantages of choosing Bledsoe Large company stock fund

Bledsoe Large company stock fund is an actively managed fund hence there is the possibility of outperforming in the market as data has shown over the 10 years, when compared with Bledsoe S&P 500 index Fund.

While the disadvantage is also the possibility of underperforming in the market and this is because most mutual funds cannot sustain its outperformance of the market over a very long period of time.

Indicate where the event common stock issued for cash would appear, if at all, on the indirect statement of cash flows. Group of answer choices Operating activities section Investing activities section Financing activities section Does not represent a cash flow

Answers

Answer: Financing activities section

Explanation:

The Financing Activities are refered to as the transactions which affect the long-term liabilities and equity of the company.

In the case if the question given, the common stock that's issued for cash would appear in the financing activities section due to the fact that the activity is related to finance and affects the company.

A team of analysts at Amazon is researching the viability of producing a smart watch. How might they estimate potential demand for their smart watch

Answers

Solution :

It is given that an analyst team at Amazon is researching the feasibility and the viability of manufacturing a smart watch.

The analyst team must carry out few steps in order to estimate the potential demand for the smart watch. They should begin with customer survey to know for the demand of the watch. Then the team find the total quantity of the product that is demanded by the customers, the third step is to scale the quantities demanded by the survey respondents. The final step is the team should plot and make the demand curve for the watch in the market.

From the list on your right select the letter that contains the word, phrase, name, etc that best matches the word, phrase, name, etc listed on the left. Externality A. Intellectual property rights Negative exteranlity Positive externality The magnitude of market failure National defense Free-rider problem A market producing the socially optimal level of output Can be used to encourage innovations Congested non-toll road Helps transfer social benefit to a private party which is creatingcurve A good is nonexcludable but could be rivalrous or nonrivalrous An example of "There is no such thing as a free lunch. Overproduction E Excludable and rivalrous r. The area of the triangle in a demand and supply model which is formed as a result of negative or positive externality Nonexcludable and rivalrous " Market output will be lower than the socially efficient/optimal level of output At the intersection of the marginal social cost curve and the demand a positive externality d. A the level of output where negative externality is equal to positive externality Decline in production due to external factors such a bad news coverage about a product L. A positive or negative side effect of an action that affects the wellbeing of a bystander (or a third party) M. Subsidy Both nonexcludable and nonrivalrous O. Taxation

Answers

Answer:

A - Intellectual Property Rights - can be used for  innovations

B - A good is non excludable but could be rivalrous or non rivalrous. - Free rider problem

C - An example of "There is no such thing as a fee lunch" National Defense

D - Overproduction - Negative externality

E - Excludable Rivalrous

F -  The area of the triangle in a demand and supply model which is formed as a result of negative or positive externality. - Magnitude of market failure

G - Non excludable and Rivalrous - Free rider problem

H - Market output will be lower than the socially efficient / optimal level of output. - Positive externality

I - At the intersection of marginal social cost curve and the demand curve.

J - The level of output where negative externality is equal to positive externality - Market producing socially optimal level of output.

K - Decline in production due to external factors such as bad news coverage about a product. Negative externality

L - A positive or negative side effect of an action that affects the wellbeing of a bystander or Third party. Externality

M - Subsidy positive externality

N - Both excludable and non rivalrous Congested non troll road

O- Taxation - national defense

Explanation:

When the market is producing optimal level of output then there will be no negative or positive externality. The positive externality is one when a firm cannot attain the full benefits of the decision made by them. Negative externality is one in which there is some undesirable impact of the market condition on the production.

- Màng quấn PE có tính chất hóa học của hydrocacbon không tác dụng trong môi trường có axit, thuốc tím, kiềm.

- Không màu mùi, hòa tan kém trong nhiệt độ cao.

https://hanopro.com/mang-pe-cuon-pallet/dac-diem-cua-mang-cuon-pe.html

Answers

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Derek has the opportunity to buy a money machine today. The money machine will pay Derek $35,847.00 exactly 16.00 years from today. Assuming that Derek believes the appropriate discount rate is 15.00%, how much is he willing to pay for this money machine

Answers

Answer:

$3830.78

Explanation:

We are to determine the present value of the lump sum

Present value is the sum of discounted cash flows

$35,847 / (1.15^16) = $3830.78

Paradise Travels is an all-equity firm that has 10,000 shares of stock outstanding at a market price of $25 a share. Management has decided to issue $25,000 worth of debt and use the funds to repurchase shares of the outstanding stock. The interest rate on the debt will be 7.3 percent. Calculate the break even EBIT. Look at lecture material .

Answers

Answer:

$1.62

Explanation:

Calculation to determine the break even EBIT

First step is to determine the Number of shares purchased

Number of shares purchased= $25,000 / $25

Number of shares purchased= $1,000

Second step is to determine the EBIT

EBIT / 10,000 = [EBIT - ($25,000 * 0.073)] / (10,000 - 1,000)

EBIT / 10,000 = (EBIT - $1,825) / 9,000

9,000 EBIT = 10,000 EBIT - $16,425,000

1,000 EBIT = $16,425,000

EBIT=$16,425,000/1,000

EBIT = $16,425

Now let determine the Earning per Shares at Break-even level of earning

Earning per Shares at Break-even level of earning= [EBIT - ($25,000 * 0.073)] / (10,000 - 1,000)

Earning per Shares at Break-even level of earning= ($16,425 - $1,825) / 9,000

Earning per Shares at Break-even level of earning= $14,600 / 9000

Earning per Shares at Break-even level of earning= $1.62

Therefore the break even EBIT is $1.62

Josh is a full-time college student who is not working or looking for a job. The Bureau of Labor Statistics counts Josh as a. employed. b. unemployed. c. not in the labor force. d. marginally attached worker .

Answers

Answer:

b. unemployed

The following information describes a company's usage of direct labor in a recent period! Actual Hours Used 22000Actual Rate per Hour 15Standard Rate per Hour 14 Standard Hours for Units Produced 23500The direct labor RATE variance is:__________. A. $21,000 Favorable B. $21,000 Unfavorable C. $22,000 Favorable D. $22,000 Unfavorable E. $23,500 Unfavorable The direct labor EFFICIENCY variance is:_______. A. $21,000 Favorable B. $21,000 Unfavorable C. $22,000 Favorable D. $22,000 Unfavorable E. $23,500 Unfavorable

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Actual Hours Used 22,000

Actual Rate per Hour 15

Standard Rate per Hour 14

Standard Hours for Units Produced 23,500

To calculate the direct labor rate and efficiency variance, we need to use the following formulas:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (14 - 15)*22,000

Direct labor rate variance= $22,000 unfavorable

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (23,500 - 22,000)*14

Direct labor time (efficiency) variance= $21,000 favorable

$
$
$
2,400.00
1,560.00
4,800.00
15,672.00
50,001.00
las en
50,000.00
50,001.00
(1.00)
$

Answers

Answer:

english pls

Explanation:

With an aggregate supply function that is continually positively sloped (LRAS), a reduction in aggregate demand leads to: Group of answer choices Falling prices cost-push interest rate Perpetual growth Rising prices Falling Employment

Answers

Answer: Falling prices

Explanation:

When Aggregate demand reduces, the Aggregate demand curve will have to shift leftward to depict this and in doing so, it would intersect with the Long Run Aggregate Supply curve at a lower price level thereby leading to a fall in prices.

Aggregate demand reducing means that there is less money being spent in the economy and should this be the case, the economy is going to contract and unless the Aggregate demand was above potential GDP then this is not ideal.

Match these terms with their definitions.

a. The rate that reflects the provisions of the debt instrument, the credit standing of the borrowing business, and the current conditions in the credit markets and the economy as a whole.
b. The rate found in the debt contract that determines the amount of the interest payment.
c. Occurs when a bondâs issue price exceeds its face value.
d. The amount that must be repaid at maturity.
e. A type of liability which requires the issuing entity to pay the face value to the holder on the maturity date and to pay interest periodically at a specified rate.
f. Occurs when a bond is issued for an amount that is less than the principal.
g. Term referring to the date that a bondâs principal has to be repaid.

1. Bond.
2. Contract, coupon, stated rate.
3. Discount.
4. Face value, par value, principal.
5. Market rate, yield.
6. Maturity.
7. Premium.

Answers

Answer and Explanation:

The matching is as follows

a. 5. Market rate, yield. as it represent the debt instrument provisions, credit standing, and the present conditions

b. 2. Contract, coupon, stated rate, this represent that rate that could be find in the contract of the debt that measures the interest payment amount

c. 7. Premium. this is the case when the issue price of the bond is more than the face value

d. 4. Face value, par value, principal. It is the amount that should be repay at the maturity

e. 1. Bond. It is the liability that needs the entity to pay off the face value on the maturity date

f. 3. Discount. It arise when the issue price of the bond is lower than the principal

g. 6. Maturity. it refers to the date when the principal of the bond is repaid  

How much should you pay for a share of stock that offers a constant growth rate of 10%, requires a 16% rate of return, and is expected to sell for $53.17 one year from now

Answers

Answer: $48.33

Explanation:

Using the Gordon Growth model:

Price of stock = Next year dividend / (Required return - growth rate)

Next year price of stock can be used to calculate year 2 dividend:

53.17 = D₂ / ( 16% - 10%)

53.17 * 6% = D₂

D₂ = $3.19

D₂ = D₁ * ( 1 + growth rate)

3.19 = D₁ * ( 1 + 10%)

D₁ = 3.19/ 1.1

= $2.90

Price of stock today:

= 2.90 / ( 16% - 10%)

= $48.33

Paving LLC is a foreign limited liability company in the state of Ohio. In dealing with Paving, Ohio will apply the law of the state where the firm a. is headquartered. b. was formed. c. will receive consistent treatment. d. does business.

Answers

Answer: B. Was formed

Explanation:

Limited liability companies that are doing business in the states other than the states that they registered originally may have to seek the status of foreign LLC in such states.

Therefore, since Paving LLC is a foreign limited liability company in the state of Ohio. In dealing with Paving, Ohio will apply the law of the state where the firm was formed. Therefore, the correct option is B.

While dealing with Paving, Ohio  will apply the law of the state where the firm does business.

Foreign Limited liability which are formed elsewhere do operate under the the State's regulations and policy.

Business have to be registered with every state regardless of whether they have been in existence elsewhere

When the registration is done, the state regulation, trade policy and rules will be stated to the newly established business in the state.

 

Therefore, Option D. is correct.

Learn more about LLC here

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HNT is an all-equity firm with a beta of .88. What will the firm's equity beta be if the firm switches to a debt-equity ratio of .35

Answers

Answer:

the firm equity beta is 1.188

Explanation:

The computation of the firm equity beta is as follows:

In the case when the firm switches to a debt-equity ratio is 0.35,

So, the proportion of equity in total capital structure is

= 100 ÷ 135

= 0.741

Now The equity beta is

=  0.88 ÷ 0.741

= 1.188

Hence, the firm equity beta is 1.188

Complete each of the following contribution format income statements by supplying the missing numbers.
a. b. c. d.
Sales revenue $ $485,168 $ $686,356
Variable expenses 232,804 102,728
Contribution margin 130,532 171,860 430,808
Fixed expenses 87,912 146,396
Operating income 21,597
Income taxes 25,184 21,532 60,859
Net income $15,118 $
$64,596 $182,577

Answers

Answer and Explanation:

The missing amount is as follows:

a.

Sales revenue = Variable expense + contribution margin

= $232,804 + $130,532

= $363,336

Fixed expense = Contribution margin - operating income

= $130,532 - $21,597

= $108,935

Income tax = OPerating income - net income

= $21,597 - $15,118

= $6,479

b.

Variable expesne = sales revenue - contribution margin

= $485,168 - $171,860

= $313,308

Operating income = contribution margin - fixed expense

= $171,860 - $87,912

= $83,948

Net income = operating income - income tax

= $83,948 - $25,184

= $58,764

c.

Operating income = income tax + net income

= $21,532 + $64,596

= $86,128

Contribution margin = Fixed expense + operating income

= $146,396  + $86,127

= $232,524

Sales revenue = variable expense + contribution margin

= $102,728 + $232,524

= $335,252

d.

Variable expense = sales revenue - contribution margin

= $686,356 - $430,808

= $255,548

Operating income  = income tax + net income

= $60,859 + $182,577

= $243,436

Fixed expense = Contribution margin- operating income

= $430,808 - $243,436

= $187,372

,

Using the data below, compute DEBT RATIO.

Using the data below, compute Return on Equity.

Accounts Payable 800
Accounts Receivable 1,100
Capital Stock 2,000
Cash 50
Cost of Goods Sold 6,000
Inventory 1,500
Long-term Debt 1,820
Net Income 950
Property, Plant, and Equipment (net) 3,000
Retained Earnings 1,030
Sales 10,000
Market value of shares 12,000

Answers

Answer:

a. Total Liabilities = Accounts Payable + Long-term Debt

Total Liabilities = 800 + 1,820

Total Liabilities = $2,620

Total Assets = Accounts Receivable + Cash + Inventory + Property, Plant, and Equipment (net)

Total Assets = 1,100 + 50 + 1,500 + 3,000

Total Assets = $5,650

Debt Ratio = Total Liabilities / Total Assets

Debt Ratio = $2,620 / $5,650

Debt Ratio = 0.463717

Debt Ratio = 46.37%

b. Return on Equity = Net Income / Shareholder Equity

Return on Equity = Net Income / (Capital Stock + Retained Earnings)

Return on Equity = $950 / ($2,000+$1,030)

Return on Equity = $950 / $3,030

Return on Equity = 0.31353135

Return on Equity = 31.35%

The HR planning process should be aligned with the strategic process of the organization in general. It will show how HR will contribute to the achievement of goals and objectives the organization has determined as a whole. As part of the planning process, HR should perform a job analysis. To have a better understanding of the job analysis, you should answer all of the following questions for this assignment: Judge the job analysis process of an organization you are familiar with and indicate whether it is an effective one. Judge a job description and job specification for any job selected that was performed with that job analysis process. Indicate how you would improve it and explain its importance.

Answers

Answer:

Rating employees according to their performance against the key performance indicators.

Explanation:

HR has responsibility to hire, fire and appraise employees. An employee is appraised after his performance is analyzed. There are certain job specifications which an employee must satisfy in order to stay in the company. This is the main objectives for which a company has hired an employee. If an employee performs beyond expectation the he may qualify for promotions.

In preparation for developing its statement of cash flows for the year ended December 31, 2018, Millennium Solutions, Inc. collected the following information:

Payment for the early extinguishment of long-term notes (book value: $100 million) $108.1
Sale of common shares 352.1
Retirement of common shares 244.1
Loss on sale of equipment 4.1
Proceeds from sale of equipment 16.1
Issuance of short-term note payable for cash 20.1
Acquisition of building for cash 14.1
Purchase of marketable securities (not a cash equivalent) 10.1
Purchase of marketable securities (considered a cash equivalent) 2.1
Cash payment for 3-year insurance policy 6.1
Collection of note receivable with interest (principal amount, $22) 26.1
Declaration of cash dividends 66.1
Distribution of cash dividends declared in 2020 60.1

Required:
a. Prepare the investing activities section of Millennium's statement of cash flows for 2018.
b. Prepare the financing activities section of Millennium's statement of cash flows for 2018.

Answers

Answer and Explanation:

The preparation of the investing and the financing activities is presented below:

1) Investing activities

Proceeds from the sale of equipment 16

Purchase of building -14

Purchase of marketable securities -10

Collection of notes receivable 26

Net cash flow from investing activities 18

2) Financing activities

Payment of long term notes -108

Sales of common share 352

Retirement of shares -244

Issue short term notes payable 20

Dividend paid -60

Net cash flow from financing activities -40

A convertible bond is selling for $967, matures in 15 years, has a $1,000 face value, pays interest semiannually, and has a coupon rate of 8 percent. Similar non-convertible bonds are priced to yield 4.25 percent per six months. The conversion ratio is 20. The stock currently sells for $47.50 a share. Calculate the convertible bond's option value.
a. $2.92.
b. $7.27.
c. $1.48.
d. $2.03.

Answers

Answer:

D) $8.95

Explanation:

Calculation to determine the convertible bond's option value.

First step is to calculate the Straight bond value

Straight bond value = [.08($1,000)/2]PVIFA4.25%, 30 + $1,000/1.042530

Straight bond value = $958.05

Second step is to calculate the Conversion value

Conversion value = 20($47.50)

Conversion value = $950

Now let determine the convertible bond's option value using this formula

Bonds Option value = Bond value – MAX[Straight bond value, Conversion value]

Let plug in the formula

Bond Option value = $967 − MAX[$958.05, 950]

Bond Option value =$967-$958.05

Bond Option value = $8.95

Therefore the convertible bond's option value is $8.95

The riskfree rate is 2.5% and the excess market return is expected to be 6%. Use the Gordon growth model to obtain the intrinsic value of a firm that has a dividend of $4.95, beta of 1.12, and dividend growth of 5%

Answers

Answer:

$366.02

Explanation:

The computation of the intrinsic value per share is as follows;

But before that the required rate of return is

As we know that

Required rate of return = Risk free rate of return + beta × (market rate of return - risk free rate of return0

= 2.5% + 1.12 × (6% - 2.5%)  

= 6.42%

Now the intrinsic value per share is

= $4.95 × 1.05 ÷ (6.42% - 5%)

= $366.02

Sort the following scenarios into whether the change in quantity described is caused by a shift in the supply curve or movement along a supply curve.

a. Americans put up their gold and silver jewelry for sale as a result of rising prices
b. A local Fight Club supplies list of its premium quality soap as a result of lower prices
c. Amplitude decides to join the smartphone market
d. After discovering that flash steaming tuna first before using mechanical processes to extract meat removes more tuna flesh, more cans of tuna hit the shelves at all major groceries

Answers

Answer:

movement along a supply curve.

movement along a supply curve.

shift of the supply curve

shift of the supply curve

Explanation:

Only a change in the price of a good leads to a movement along the supply curve for that good. If price increases, there is a movement up along the supply curve and if prices decreases, there is a movement down along the supply curve. This is in line with the law of supply.

according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

Other factors other than changes in the price of the good leads to a shift of the supply curve. Such factors include :

A change in the number of suppliers a change in the price of substitute goodsA change in the price of factors used in the production process government regulation

a. As a result of an increase in the price of gold, there is an increase in the supply of these items. this would lead to a movement up along the supply curve

b. Supply decreases as a result of lower prices. this leads to a movement down along the supply curve

c. there is an increase in the suppliers of smartphones. the supply curve would shift to the right

The answers have been sorted below

1. Americans put up their gold and silver jewelry for sale as a result of rising prices.

Movement along a supply curve

2.  A local Fight Club supplies list of its premium quality soap as a result of lower prices.

Movement along a supply curve

3.  Amplitude decides to join the smartphone market.

Shift along a supply curve

4.  After discovering that flash steaming tuna first before using mechanical processes to extract meat removes more tuna flesh, more cans of tuna hit the shelves at all major groceries.

Shift along a supply curve

Read more on a supply curve here:

https://brainly.com/question/26430220

Which of the following is an example of​ investment? A. a person depositing $ 100 a week to her savings account B. a person's annual medical checkup C. the purchase of new buses by Greyhound D. a student increasing his human capital by attending college

Answers

Answer:

C. the purchase of new buses by Greyhound

Explanation:

The investment is the amount that should be invested in order to generate the income

So as per the given situation,the option C is correct as if we puchase the new buses so there is a big investment but after investing into it it generated the income on daily basis

So this should be the example of the investment

Kaspar Industries expects credit sales for January, February, and March to be $205,200, $266,800, and $316,800, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month.
Collections from Customers
Credit Sales January February March
January
February
March

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month.

Sales:

January= $205,000

February= $266,800

March= $316,800

Cash collection January:

Sales in cash from January= 205,000*0.75= 153,750

Total cash collection January= $153,750

Cash collection February:

Sales in cash from February= 266,800*0.75= 200,100

Sales in account from January= 205,000*0.25= 51,250

Total cash collection February= $251,350

Cash collection March:

Sales in cash from March= 316,800*0.75= 237,600

Sales in account from February= 266,800*0.25= 66,700

Total cash collection March= $304,300

Instead of issuing securities, Artificial Intelligence Inc. pursues other sources of funds. To obtain venture capital financing, the firm will most likely:_______.a. pool funds to invest in a business venture. b. give up a share of its ownership. c. borrow funds to be returned on a designated maturity date. d. pay periodic dividends.

Answers

Answer:

The answer is B.

Explanation:

The correct option is B. - give up a share of its ownership. Venture capitalist invest in a start up ventures or small businesses that they believe have high future prospects.

Because venture capitalists are exprienced business wise and have enough money, they tend to make or provide managerial decisions. The business will be in form of partnership, hence, Artificial Intelligence Inc. giving up part of its ownership.

It is not a must venture business pay a periodic dividend but business capitalist share in the profit or loss of the business.

The model in which managers use their organization's existing core capabilities to expand into foreign markets is called the

Answers

Answer:

international model

Explanation:

In the case when the managers use the core capabilities of the organization in over to diversify into the foreign markets so this we called as the international model. As due to this the organization could capture the foreign market share this result in increased in the sales of the organization

So as per the given situation, the above represent the answer

Weaver Corporation had the following stock issued and outstanding at January 1, Year 1:
1. 70,000 shares of $14 par common stock.
2. 7,500 shares of $100 par, 7 percent, non-cumulative preferred stock.
On June 10, Weaver Corporation declared the annual cash dividend on its 7,500 shares of preferred stock and a $2 per share dividend for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20.
Prepare general journal entries to record the declaration and payment of the cash dividends.

Answers

Answer:

Preferred shareholder (7,500*$100)*7%   $52,500

Common shareholder (70,000×$2)          $140,000

Total dividend                                            $192,500

Date         General Journal                  Debit         Credit

10 June     Dividend                            $192,500

                        To dividend payable                      $192,500

                 (To record dividends payable)

20 June    No entry required

01 July       Dividend payable              $192,500

                         To cash                                           $192,500

                  (To record dividend payment)  

31 Dec      Retained earning               $192,500

                         To dividends                                   $192,500

                (To close dividend account)

The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.40 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year indefinitely. Investors require a return of 12 percent on the company's stock. a. What is the current stock price

Answers

Answer:

Missing word "What will the stock price be in three years?"

a. Current price = D0*(1+g)/(Ke-g)

Current price = 1.4*(1+0.05) / (0.12-0.05)

Current price = 1.4*1.05 / 0.07

Current price = 1.47 / 0.07

Current price = $21

b. Current price = D0*(1+g)/(Ke-g)

Current price = 1.4*(1+0.05)^4 / (0.12-0.05)

Current price = 1.4*1.05^4 / 0.07

Current price = 1.4*1.21550625 / 0.07

Current price = 1.70171 / 0.07

Current price = 24.310143

Current price = $24.31

Job A3B was ordered by a customer on September 25. During the month of September , Jaycee Corporation requisitioned $ 2,300 of direct materials and used $ 3,800 of direct labor The job was not finished by the end of September but needed an additional $ 2,800 of direct materials in October and additional direct labor of $ 6,300 to finish the job . The company applies overhead at the end of each month at a rate of 200 % of the direct labor cost . What is the amount of job costs added to Work in Process Inventory during October

Answers

Answer:

Jaycee Corporation

The amount of job costs added to Work in Process in October is:

= $21,700.

Explanation:

a) Data and Calculations:

September 30, Work in Process:

Direct materials  $2,300

Direct labor           3,800

Total WIP                           $6,100

Added in October:

Direct materials   2,800

Direct labor          6,300

Overhead           12,600 $21,700

Total job costs               $27,800

The Work in process by October 1 is $6,100.  Additional job costs added in October includes Direct materials, labor, and overhead, which totalled $21,700.  Therefore, the total job costs for Job A3B is $27,800.

The area of accounting aimed at serving the decision-making needs of internal users is: Group of answer choices External auditing. SEC reporting. Managerial accounting. Financial accounting.

Answers

Answer:

Managerial accounting

Explanation:

Managerial accounting can be regarded as accounting practice involving identification as well as measurement and interpretation of financial information and communication of it to managers so that it can be used to achieve organization's goals. It should be noted that the The area of accounting aimed at serving the decision-making needs of internal users is Managerial accounting

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