In early April 2020, an amendment to the annual budget for 2020 was approved by the city council for inflows and outflows in the Street Improvement Bond Debt Service Fund related to the bond issue. The debt service fund budget amendment provides for estimated other financing sources of $20,000 for the premium on bonds sold and estimated revenues of $12,500 for accrued interest on bonds sold; and appropriations in the amount of the one interest payment of $25,000 to be made during 2020. (The payment that is due on July 1, 2020.)
Required:
Record the budget for the Street Improvement Bond Debt Service Fund for year 2020.
Answers
Answer:
attached below
Explanation:
Given data :
Year : 2020
estimated other financing sources = $20,000 ( premium on bonds sold )
estimated revenues = $12500 ( accrued interest on bonds sold )
approximations in amount of one interest payment = $25,000 ( to be made during 2020 )
attached below is the Budget for the street improvement Bond debt service fund for year 2020
Related Questions
Riverboat Adventures pays $170,000 plus $14,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $22,000, a building appraised at $79,200, and paddleboats appraised at $118,800. Compute the cost that should be allocated to the building. Multiple Choice $66,240. $61,200. $79,200.
Answers
Answer:
Total cost allocated to building = $66,240
Explanation:
Given:
Total amount pay = $170,000 + $14,000 = $184,000
Land appraised amount = $22,000
Building appraised amount = $79,200
Paddleboats appraised price = $118,800
Find:
Total cost allocated to building
Computation:
Total appraisal price = Land appraised amount + Building appraised amount + Paddleboats appraised price
Total appraisal price = $22,000 + $79,200 + 118,800
Total appraisal price = $220,000
Total cost allocated to building = [Total amount pay / Total appraisal price]Building appraised amount
Total cost allocated to building = [184,000/220,000]79,200
Total cost allocated to building = $66,240
The Walking Dead Co. provides services on-account and in exchange for cash. All general ledger accounts are adjusted monthly. For September, the following information is available: Accounts Receivable on September 1st is $22,400 (debit) Allowance for Doubtful Accounts on September 1st is $4,400 (credit) Services provided during September for cash $20,000 Services provided during September on-account $45,000 During the month collections on account were $34,400 and accounts written off as uncollectible were $2,000. The Walking Dead estimates bad debts at 8% of accounts receivable. After adjusting journal entries are recorded, what is the September 30th balance in Allowance for Doubtful Accounts
Answers
Answer:
See below
Explanation:
Given that,
Accounts receivables :
Beginning balance 1 September = $22,400
Services on account = $45,000
Cash collected = $34,400
Written off accounts = $2,000
Allowance for doubtful accounts:
Beginning balance 1 September = $4,400
Adjusted balance for Allowance for doubtful accounts on 30th September
= Beginning balance 1 September - Written off accounts + Bad debt expense
= $4,400 + $2,000 + ($45,000 × 8%)
= $4,400 + $2,000 + $3,600
= $6,000
Jack, Jill and Maritza are employed as sales persons for Deuce Hardware Supplies. None was hired for a definite period and each has an excellent sales record. Jack was terminated because Don Deuce, the president of Deuce Hardware, decided that customers were more likely to spend more if the sales person was an attractive woman, rather than a man. Jill was terminated for cheating on her expense account. Assuming only these facts, explain, separately whether Jack or Jill has any claim against Deuce Hardware.
Answers
Answer:
Jack has claim while Jill didn't have.
Explanation:
Jack has claim against Deuce Hardware because his performance is tremendous and make more sales for the company. He done his work very well so he can claim against Deuce Hardware Supplies while on the other hand, Jill has no claim against Deuce Hardware because he commit a crime on the basis of which the company has the authority to terminate him from the job. He works very well in the company but his crime is big enough to terminate him.
A company's Cash account shows an ending balance of $4,600. Reconciling items included a bookkeeper error of $105 (a $525 check recorded as $630), two outstanding checks totaling $830, a service charge of $20, a deposit in transit of $260, and interest revenue of $33. What is the adjusted book balance
Answers
Answer:
$5,275
Explanation:
Bank Reconciliation Statement
Balance as per Cash Book $4,600
Add check error $105
Add unpresented checks $830
Less Lodgments not yet credited ($260)
Balance as per Bank Statement $5,275
therefore,
The adjusted Cash book balance is $5,275
Robert Nozick's direct criticism of the importance of income equality is that: a. trade performed on a cumulative basis would result in equal outcomes and opportunities for people. b. All of the answers are correct. c. peaceful trade should not be condemned even when it leads to large differences in wealth. d. equality results only from freely chosen market transactions, devoid of coercive force or fraud.
Answers
Answer: c. peaceful trade should not be condemned even when it leads to large differences in wealth.
Explanation:
Income inequality simply refers to the unevenly distribution of income in a population. It should be noted that the less equal the distribution, the higher the income inequality will be.
According to Robert Nozick, the direct criticism of the importance of income equality is that peaceful trade should not be condemned even when it leads to large differences in wealth.
Think of a business concept that would be appropriate for each of the following:
1) a sole proprietorship
2) a corporation
3) a limited liability company
In your answer address the pros and cons of the business type (sole proprietorship, Corporation, LLC) and why you the believe the business concept you choose best suits that business type. You must list at least 3 pros and 3 cons for each business type.
Answers
Answer:
Sole Proprietorship: The business concept that would be suitable for this type of business would be a roadside Fruit Juice Processing business. This involves different blends of organic fruits being blended into one smooth syrup sometimes called a smoothie.This type of business is better registered under a Sole Proprietorship because, it is almost always carried out by those who are self-employed.
Pros:
It is easy to set up and has low operational and corporate costIt enjoys zero corporate business taxesthey are not required to submit annual filingsCons:
The liability is unlimited and unrestricted. This means if there is litigation against the business, the business owner if found culpable will have to defray all amounts due even with his or her personal assets if the business is unable to meet that obligationThis type of business structure will find it difficult to raise money due to the potential liability exposure Also the sole proprietor may be unable to take on business debt
2. A Limited Liability Corporation: The business concept that would be suitable for this type of entity is a Fast Food Franchise like Tastee Fried Chicken. This sort of business will involve processing chicken and other kinds of foods into wholesome dishes.
The Tree Company provides the following standard cost data per unit of product: Variable overhead $ 8.00 Tree Co. anticipated that they would produce and sell 24,000 units. During the period, the company produced and sold 25,000 units, incurring $210,000 of variable overhead costs. The variable overhead flexible budget variance was: A. $8,000 unfavorable. B. $10,000 unfavorable. C. $8,000 favorable. D. $10,000 favorable.
Answers
Answer:
Flexible budget variance= $10,000 unfavorable
Explanation:
Giving the following information:
Standard Variable overhead= $8.00 per unit
During the period, the company produced and sold 25,000 units, incurring $210,000 of variable overhead costs.
First, we need to calculate the standard variable overhead cost:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 8*25,000
Allocated MOH= $200,000
Now, the flexible budget variance:
Flexible budget variance= allocated overhead - actual overhead
Flexible budget variance= 200,000 - 210,000
Flexible budget variance= $10,000 unfavorable
Midwest Mfg. uses a balanced scorecard as part of its performance evaluation. The company wants to include information on its sustainability efforts in its balanced scorecard. For each of the sustainability items below, indicate the most likely balanced scorecard perspective it relates to. Label your answers using C (customer), P (internal process), I (innovation and learning), or F (financial). ____________
1. CO2 emissions ____________
2. Number of solar panels installed ____________
3. Gallons of water used ____________
4. Customer surveys of company s sustainability reputation ____________
5. Pounds of recyclable packaging used ____________
6. Pounds of trash diverted from landfill ____________
7. Dollar sales of green products ____________
8. Number of sustainability training workshops held ____________
9. Cubic feet of natural gas used ____________
10. Patents for green products applied for
Answers
Answer:
1. CO2 emissions. P (internal process)
Internal processes relate to those sustainability actions that relate to the internal workings and processes of the company such as the technologies and plans they initiate to be more sustainable. Managing CO2 emissions is one of them.
2. Number of solar panels installed P (internal process)
This falls under internal processes as well.
3. Gallons of water used. P (internal process).
Relates to the plans to be more sustainable so is internal process.
4. Customer surveys of company's sustainability reputation. C (Customer)
Customer perspective attempts to find out what the customer thinks about the company and this is very important because it tells the company what to offer customers in order to gain larger market share. Customer surveys fall here.
5. Pounds of recyclable packaging used. P (internal process)
Plans to be more sustainable so internal process.
6. Pounds of trash diverted from landfill. P (internal process)
Company plans to be more sustainable so internal.
7. Dollar sales of green products. F (financial)
Financial perspective deals with everything money. How much is saved and how much is spent and most importantly, what is the profit. This will therefore fall here.
8. Number of sustainability training workshops held. I (innovation and learning).
Innovation and learning focuses on developing the components of a company that drives its growth such as human capital. Training employees ensures that they gain more skills and become more sustainable.
9. Cubic feet of natural gas used. P (internal process)
10. Patents for green products applied for. I (innovation and learning).
This falls under the innovation perspective as it deals with actions taken to improve the capability of the company.
Dos Amugus Company has income from continuing operations of $621,000 (after tax) for the year ended December 31, 2020. It also has the following items (before considering income taxes): (1) An unrealized loss of $120,000 available-for-sale-securities. (2) A gain of $60,000 on the discontinuance of a major component. (3) A cumulative effect of a change in accounting principle that resulted in an increase in prior years' depreciation of $50,000. Assume all items are subject to income taxes at a 30% tax rate. Prepare an income statement, beginning with income from continuing operations. DOS AMUGUS COMPANY Partial Statement of Comprehensive Income For the Year Ended December 31, 2020
Answers
Answer:
Dos Amugus company
Partial Statement of Comprehensive Income
Particulars Amount
Income from continuing operations $621,000
Discontinued operations. Gain on discontinued $42,000
segment net of tax (60,000 * 30% of 60,000)
Net income $663,000
Other comprehensive income ($84,000)
Unrealized holding loss, on available for sale
securities net of income tax (120,000-30%*120,000)
Comprehensive income $579,000
The following credit sales are budgeted by Sunland Company: January $274000 February 350000 March 470000 April 360000 The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of April is
Answers
Answer:
$374,000
Explanation:
April Collection = $360000 x 70 % + $ 470000 x 20 % + $ 350000 x 8 %
= $374,000
The anticipated cash inflow for the month of April is $374,000
Using property she inherited, Lei makes a 2020 gift of $16,200,000 to her adult daughter, Doris. Neither Lei nor her husband, Greg, has made any prior taxable gifts. Assuming that a flat 40% tax rate applies, determine the Federal gift tax liability if (a) the election to split gifts is not made and (b) the election to split gifts is made. (c) What are the tax savings from making the election
Answers
Answer:
a)$1,842,000
b) $808,500 each
c) $$1,842,000
Explanation:
Worth of Gift made = $16200000
Assuming a Flat rate of 40%
Determine federal gift tax liability
a) When Election to split gift is not made
Taxable gift = $162,000,000 - annual exclusion
= 162,000,000 - 15,000
= $16,185,000
Determine the Gift tax = [ 345800 + ( 16,185,000 - 1,000,000 ) 40% ]
= $6419800
applying values gotten from computing tax table ( Appendix A )
Given that the max credit allowed for 2020 = $4577800
hence Gift tax due = $1,842,000 ( 6419800 - 4577800 )
b) If election to split is made i.e. section 25I3 is elected
Gift tax due = $8,100,000 - $15,000 = $808,500 each ( Greg and Lei
i.e. For Greg and Lei
c) Tax savings made
Tax savings =$1,842,000 ($1,842,000 -$0)
Roll over the items and match the examples to the sales promotion type.PromotionExamplesAdvantagesDisadvantagesCouponPremiumsContestsSweepstakesSamplesLoyalty ProgramsPOP DisplaysRebatesStimulates demandBuilds goodwillGenerates excitementIncreases involvementEncourages trialCreates loyaltyProvides visibilityLow redemption ratesBuy for premiumMust be monitoredSales declineHigh cost and risk to firmDifficult to get a good locationMay be copied by competitors
Answers
Answer:
Coupon ⇒ 20% off
Premiums ⇒ Free Keychain
Contests ⇒ 50-yard dash around the store
Sweepstakes ⇒ Win a trip to the Olympics
Samples ⇒ Ride the bike around the lot
Loyalty Programs ⇒ Buy 9, get the 10th one free.
POP Displays ⇒ Cash register display
Rebates ⇒ Mail-in for $20 off
On May 3, 2020, Cheyenne Company consigned 90 freezers, costing $480 each, to Remmers Company. The cost of shipping the freezers amounted to $850 and was paid by Cheyenne Company. On December 30, 2020, a report was received from the consignee, indicating that 45 freezers had been sold for $780 each. Remittance was made by the consignee for the amount due after deducting a commission of 6%, advertising of $210, and total installation costs of $330 on the freezers sold.
(Round answers to 0 decimal places, e.g. 5,275.)
(a) Compute the inventory value of the units unsold in the hands of the consignee.
Inventory value
$enter the inventory value in dollars
(b) Compute the profit for the consignor for the units sold.
Profit on consignment sales
$enter the profit on consignment sales in dollars
(c) Compute the amount of cash that will be remitted by the consignee.
Remittance from consignee
Answers
Answer and Explanation:
The computation is shown below;
a.
Inventory Unsold in Hand (90-45) 45
Unit cost Unsold (45 × 480) $21,600.00
Shipping cost on Unit Unsold (850 ÷ 90 × 45) $425.00
Value of Inventory (21600 + 425) $22,025.00
b.
Sale value (45 × 780) $35,100.00
Less: Cost
Unit cost Sold (21600+425) -$22,025.00
Comission of Consignee (35,100 × 6%) -$2,106.00
Advertising cost -$210.00
Installation cost -$330.00
Net Profit $10,429.00
c.
Sale value (45 × 780) $35,100.00
Less: deduction made by consignee
Comission of Consignee (35100 × 6%) -$2,106.00
Advertising cost -$210.00
Installation cost -$330.00
Net Remittance made by consignee $32,454.00
The personnel director for Electronics Associates developed the following estimated regression equation relating an employee's score on a job satisfaction test to his or her length of service and wage rate.
= 14.4 - 8.69x1 + 13.5x2
where
x1 = length of service (years)
x2 = wage rate (dollars)
y = job satisfaction test score (higher scores indicate greater job satisfaction)
a. Interpret the coefficients in this estimated regression equation.
b. Predict the job satisfaction test score for an employee who has four years of service and makes $13.00 per hour.
Answers
Answer:
a-1. An increase in the length of service (years) by one year will lead to a reduction in the job satisfaction test score by 8.69.
a-2. An increase in the wage rate (dollars) by $1 will lead to an increase in the job satisfaction test score by 13.5.
b. The predicted score of the job satisfaction test for the employee is 155.14.
Explanation:
a. Interpret the coefficients in this estimated regression equation.
a-1. Interpretation of the coefficient of x1
From the estimated regression equation, the coefficient of x1 is -8.69. Since the coefficient of x1 is negative, it implies that an increase in the length of service (years) by one year will lead to a reduction in the job satisfaction test score by 8.69.
a-2. Interpretation of the coefficient of x2
From the estimated regression equation, the coefficient of x2 is 13.5. Since the coefficient of x2 is positive, it implies that an increase in the wage rate (dollars) by $1 will lead to an increase in the job satisfaction test score by 13.5.
b. Predict the job satisfaction test score for an employee who has four years of service and makes $13.00 per hour.
Given:
y = 14.4 - 8.69x1 + 13.5x2 ………………… (1)
where
x1 = length of service (years) = 4
x2 = wage rate (dollars) = $13
y = job satisfaction test score = ?
Substituting the values into equation (1), we have:
y = 14.4 - (8.69 * 4) + (13.5 * 13)
y = 155.14
Therefore, the predicted score of the job satisfaction test for the employee is 155.14.
Beacon Company is considering automating its production facility. The initial investment in automation would be $15 million, and the equipment has a useful life of 10 years with a residual value of $500,000. The company will use straight-line depreciation. Beacon could expect a production increase of 40,000 units per year and a reduction of 20 percent in the labor cost per unit.
Determine the project's accounting rate of return. (Round your answer to 2 decimal places.)
Accounting Rate of Return____________
Determine the project's payback period. (Round your answer to 2 decimal places.)
Payback Period _______________years
Using a discount rate of 15 percent, calculate the net present value (NPV) of the proposed investment. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Negative amount should be indicated by a minus sign.)
Net Present Value ______________
Recalculate the NPV using a 10% discount rate. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Negative amount should be indicated by a minus sign.)
Net Present Value_________
Answers
Question Completion:
Current Proposed
no automation with automation
Production and Sales Volume 80,000 units 120,000 units
Per unit Per unit
Sales revenue $90 $7,200,000 $90 $10,800,000
Variable costs
Direct materials 18 18
Direct labor 25 20
Variable overhead 10 10
Total variable costs 53 48
Contribution per unit $37 2,960,000 $42 5,040,000
Fixed costs 1,250,000 2,350,000
Net operating income $1,710,000 $2,690,000
Answer:
Beacon Company
a. The project's accounting rate of return = Net operating income/Initial investment * 100
= $2,690,000/$15,000,000 * 100
= 17.93%
b. The project's payback period =
Initial investment/Net Annual Cash inflow
= $15,000,000/$4,140,000
= 3.62 years
c. NPV (PV factor at 15% for 10 years)
Cash flows Amount PV factor PV
Cash outflows = $15,000,000 1 -$15,000,000
Cash inflows = 4,140,000 5.019 20,778,660
Salvage value 500,000 0.247 123,500
NPV = $5,902,160
c. NPV (PV factor at 10% for 10 years)
Cash flows Amount PV factor PV
Cash outflows = $15,000,000 1 -$15,000,000
Cash inflows = 4,140,000 6.145 25,440,300
Salvage value 500,000 0.386 193,000
NPV = $10,633,300
Explanation:
a) Data and Calculations:
Initial investment cost of production facility = $15 million
Estimated useful life of equipment = 10 years
Residual value = $500,000
Annual depreciation expense = $1,450,000 ($15m - $500,000)/10
Net Annual Cash inflows = Net operating income + Depreciation
= $2,690,000 + $1,450,000 = $4,140,000
Selected information from Jacklyn Hyde Corporation's accounting records and financial statements for 2021 is as follows ($ in millions): Cash paid to retire notes $ 94 Common shares acquired for treasury 154 Proceeds from issuance of preferred stock 218 Proceeds from issuance of subordinated bonds 274 Cash dividends paid on preferred stock 77 Cash interest paid to bondholders 107 In its statement of cash flows, Jacklyn Hyde should report net cash inflows from financing activities of: Multiple Choice $325 million. $167 million. $218 million. $64 million.
Answers
Answer:
$167 million
Explanation:
Particulars Amount ($ millions)
Cash paid to retire note -94
Less: Common shares acquired for treasury -154
Add: Proceeds from issue of preferred stock 218
Add: Proceeds from issue of subordinated bonds 274
Less: Cash dividends paid on preferred stock -77
Net cash from financing activities 167
Note: Cash interest paid to bondholders belongs to Operating activity
What is the present value of 4360 to be received at the beginning of each of 30 periods discounted at 5% compound interest
Answers
Answer:
The right solution is "70375.08".
Explanation:
Given that,
Present value,
= 4360
Interest rate,
= 5%
Time period,
= 30
Now,
The present value of inflows will be:
= [tex](1+rate)\times \frac{Present \ value[1-(1+Interest \ rate)^{-time \ period}]}{rate}[/tex]
= [tex]1.05\times 4360\times \frac{[1-(1.05)^{-30}]}{0.05}[/tex]
= [tex]4360\times 16.1410736[/tex]
= [tex]70375.08[/tex]
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O///O
Answers
Answer:
Ɏ₳₦₭ɆɆ ₩ł₮Ⱨ ₦Ø ฿Ɽł₥ back at ya
The Fortise Corporation manufactures two types of vacuum cleaners, the Victor for commercial building use and the House-Mate for residences. Budgeted and actual operating data for the year 2017 were as follows: Static Budget Victor House-Mate Total Number sold 20,000 80,000 100,000 Contribution margin $4,600,000 $15,200,000 $19,800,000 Actual Results Victor House-Mate Total Number sold 21,500 64,500 86,000 Contribution margin $6,665,000 $14,190,000 $20,855,000 What is the total sales-mix variance closest to in terms of the contribution margin
Answers
Answer:
The Fortise Corporation
The total sales-mix variance closest to $1,055,000 in terms of the contribution margin.
Explanation:
a) Data and Calculations:
Static Budget Victor House-Mate Total
Total Number sold 20,000 80,000 100,000
Contribution margin $4,600,000 $15,200,000 $19,800,000
Actual Results Victor House-Mate Total
Number sold 21,500 64,500 86,000
Contribution margin $6,665,000 $14,190,000 $20,855,000
Variance
Number sold 1,500 F 15,500 U 14,000 U
Contribution margin $2,065,000 F $1,010,000 U $1,055,000 F
Consider the following $1000 par value zero-coupon Treasury bonds: Bond Years to Maturity Yield to Maturity A 1 4.00% B 2 4.50% C 3 5.11% D 4 5.86% E 5 6.25% The expected 2-year interest rate three years from now should be __________. Enter your answer in percent to the nearest hundredth, for example if your answer is .25432, enter 25.43.
Answers
Answer: 7.98%
Explanation:
This deals with spot rates and forward rates. The 2 year interest rate three years from now is the 2 year forward rate, 3 years from now.
It can be calculated through the relationship below:
(1 + 5 year spot rate)⁵ = (1 + third year spot rate)³ * (1 + 2 year forward rate)²
(1 + 6.25%)⁵ = (1 + 5.11%)³ * (1 + 2 year forward rate)²
1.35408 = 1.161267 * (1 + 2 year forward rate)²
(1 + 2 year forward rate)² = 1.35408 / 1.161267
1 + 2 year forward rate = √1.16603675
2 year forward rate = √1.16603675 - 1
= 7.98%
QUICK IM BEING TIMED!! AND PLS NO LINKS!!
Using the MyFico.com website (learn about scores), research what is in My Score and produce a poster or presentation on how a FICO score breaks down and what that means to the consumer.
Answers
Answer:
What? i dont understand
Explanation:
Clark, a widower, maintains a household for himself and his two dependent preschool children. For the year ended December 31, 2020, Clark earned a salary of $32,000. He paid $3,600 to a housekeeper to care for his children in his home, and also paid $1,500 to a kiddie play camp for child care. He had no other income or expenses during 2020. Before considering any limitation due to tax liability, how much can Clark claim as a child and dependent care credit in 2020
Answers
Answer:
$,1,326
Explanation:
Calculation to determine how much can Clark claim as a child and dependent care credit in 2020
Using this formula
Amount to claim=Tax rate*(Housekeeper salary+ Amount paid to Kiddie play camp)
Let plug in the formula
Amount to claim=26% *($3,600 + $1,500)
Amount to claim=26%*$5,100
Amount to claim=$1,326
Therefore The amount that Clark can claim as a child and dependent care credit in 2020 is $1,326
A manager has up to $190,000 available to invest in new construction equipment for the company. The manager must purchase a new dump truck and does not have a need for a second dump truck. The dumping trailer can only be purchased along with a dump truck. From the following list of possible equipment, identify all of the mutually exclusive alternatives and identify which of the alternatives are not acceptable.
No. Description Cost ($)
1 Loader 125,000
2 Dump Truck 170,000
3 Dump Truck 265,000
4 Dumping Trailer for the Dump Truck 25,000
Answers
Answer:
a. Mutually exclusive alternatives are
No. Description Cost ($)
2 Dump Truck 170,000
3 Dump Truck 265,000
b. The alternatives that are not acceptable are:
No. Description Cost ($)
1 Loader 125,000
4 Dumping Trailer for the Dump Truck 25,000
Explanation:
a. Mutually exclusive alternatives imply alternatives that cannot occur together. In relation to this question, since the manager must purchase a new dump truck and does not have a need for a second dump truck, that means that two trucks are mutually exclusive. Therefore, mutually exclusive alternatives are
No. Description Cost ($)
2 Dump Truck 170,000
3 Dump Truck 265,000
b. Alternative are not acceptable if they do not meet the conditioned specified. In relation to this question, since the dumping trailer can only be purchased along with a dump truck it means that Dumping Trailer for the Dump Truck is not acceptable. Also, since Loader is not a trcuk, that means it is not also acceptable. Therefore, the alternatives that are not acceptable are:
No. Description Cost ($)
1 Loader 125,000
4 Dumping Trailer for the Dump Truck 25,000
ABM, Kaizen Costing Baker, Inc., supplies wheels for a large bicycle manufacturing company. The bicycle company has recently requested that Baker decrease its delivery time. Baker made a commitment to reduce the lead time for delivery from seven days to one day. To help achieve this goal, engineering and production workers had made the commitment to reduce time for the setup activity (other activities such as moving materials and rework were also being examined simultaneously). Current setup times were 12 hours. Setup cost was $600 per setup hour. For the first quarter, engineering developed a new process design that it believed would reduce the setup time from 12 hours to nine hours. After implementing the design, the actual setup time dropped from 12 hours to seven hours. Engineering believed the actual reduction was sustainable. In the second quarter, production workers suggested a new setup procedure. Engineering gave the suggestion a positive evaluation, and they projected that the new approach would save an additional six hours of setup time. Setup labor was trained to perform the new setup procedures. The actual reduction in setup time based on the suggested changes was four hours.
Required:
1. What kaizen setup standard would be used at the beginning of each quarter?
2. How much non-value-added cost was eliminated by the end of two quarters?
Answers
Answer and Explanation:
the computation is shown below:
1. Setup Time standard
Here the first quarter standard would be considered i.e. 9 hours so we dont take the actual setup time
The Second quarter is 1 hour that denotes the Expected setup time
2. The Total non-value cost which got eliminated is
Since, The setup time was Decrease from 12 hours to 3 hours.
So, the Total non value added cost eliminated is
= $600 × (12 - 3)
= $600 × 9
= $5,400
Pension Plan Entries Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan for its employees. The plan requires quarterly installments to be paid to the funding agent, Whims Funds, by the fifteenth of the month following the end of each quarter. Assume that the pension cost is $157,100 for the quarter ended December 31.
Journalize the entry to record the accrued pension liability on December 31.
Answers
Answer and Explanation:
The journal entry is shown below:
On Dec 31
Pension expense $157,100
To Unfunded pension liability $157,100
(Being the quarterly pension cost is recorded)
here the pension expense is debited as it increased the expense and credited the unfunded pension liability as it also increased the liabilities
So, the above journal entry should be recorded
Question 13 Pina Colada Corp. has the following inventory data: July 1 Beginning inventory 108 units at $19 $2052 7 Purchases 378 units at $20 7560 22 Purchases 54 units at $22 1188 $10800 A physical count of merchandise inventory on July 30 reveals that there are 180 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is $3960. $3492. $3600. $3708.
Answers
Answer:
Endign inventory cost= $3,708
Explanation:
Giving the following information:
Purchases 378 units at $20
Purchases 54 units at $22
Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the cost of the lasts units incorporated into inventory:
Ending inventory in units= 180
Endign inventory cost= 54*22 + 126*20
Endign inventory cost= $3,708
1. The amount of income that would result from an alternative use of cash is called opportunity cost.
A. True
B. False
2. When a segment of a company is showing a net loss, it is always best to discontinue the segment in order not to continue with losses.
A. True
B. False
Answers
Answer: 1. True
2. False
Explanation:
1. Opportunity cost simply means the cost of what we've to forgo for something else. It's the amount of income which would be gotten when we use cash in an alternative way. Therefore, the answer is true.
2. A net loss occurs when the expenses are more than the income for a given period of time. Rather than discontinuing, it's required for a disclose to be made based on the rules, Therefore, the correct answer is false.
An organization wants to provide its employees information about what its goals are and what it expects employees to accomplish. It is planning to implement an incentive plan that helps employees understand the organization's goals. Which plan should be used by this organization?
Answers
Answer:
This question is incomplete, the options are missing. The options are the following:
a) A retention bonus
b) A piecework rate system
c) A merit pay system
d) The Scanlon plan
e) A balanced scorecard
And the correct answer is the option E: A balanced scorecard.
Explanation:
To begin with, the term known as "Balanced Scorecard" it is a very famous strategy method used in the fields of management and business in order to achieve higher levels of administration from the managers and owners. It is a technique that involves the company's short and long term goals and the way to plan how to incentive the employees of the company in order for them to grow and understand better the plans of the organization so that they could work better and increase the productivity that will consequently affect in the benefits of the enterprise as a whole.
Huron has provided the following year-end balances: Cash, $29,000 Patents, $7,400 Accounts receivable, $9,400 Property, plant, and equipment, $98,400 Prepaid insurance, $4,100 Accumulated depreciation, $15,000 Inventory, $39,000 Retained earnings, 15,500 Trademarks, $13,100 Accounts payable, $8,000 Goodwill, $16,000 How much are Huron's current assets
Answers
Answer:
$81,500
Explanation:
Given the information above, Hurron's current asset will be computed using the formula below.
= Cash + Accounts receivables + Prepaid insurance + Inventory
= $29,000 + $9,400 + $4,100 + $39,000
= $81,500
Therefore, Hurron's current assets is $81,500.
define biospheredefine biosphere
Answers
Answer:
Explanation:
The biosphere (from Greek βίος bíos "life" and σφαῖρα sphaira "sphere"), also known as the ecosphere (from Greek οἶκος oîkos "environment" and σφαῖρα), is the worldwide sum of all ecosystems. It can also be termed the zone of life on Earth. The biosphere is virtually a closed system with regards to matter, with minimal inputs and outputs. With regards to energy, it is an open system, with photosynthesis capturing solar energy at a rate of around 130 Terawatts per year. However it is a self-regulating system close to energetic equilibrium. By the most general biophysiological definition, the biosphere is the global ecological system integrating all living beings and their relationships, including their interaction with the elements of the lithosphere, cryosphere, hydrosphere, and atmosphere. The biosphere is postulated to have evolved, beginning with a process of biopoiesis (life created naturally from non-living matter, such as simple organic compounds) or biogenesis (life created from living matter), at least some 3.5 billion years ago.
Answer:
the regions of the surface, atmosphere, and hydrosphere of the earth (or analogous parts of other planets) occupied by living organisms.