Answer:
(a) $3,160
(b) $7,000
(c) $13,500
(d) $9,500
(e) $2,960
Explanation:
(a). Work in Process = Manufacturing cost of 103 in June + Manufacturing cost of 104 in June
Work in Process = $960 + $2,200 = $3,160
(B). Finished goods = Manufacturing cost of 101 in June + Manufacturing cost of 102 in June
Finished goods = $3,800 + $3,200 = $7,000
(C) Cost of goods sold during July = Manufacturing cost of 101 in June + Manufacturing cost of 102 in June + Manufacturing cost of 104 in June + Manufacturing cost of 104 in July
Cost of goods sold during July = $3,800 + $3,200 + $2,200 + $4,300 = $13,500
(D) Work in process inventory = Manufacturing cost of 105 in July + Manufacturing cost of 106 in July
= $6,200 + $3,300 = $9,500
(E) Finished goods inventory = Manufacturing cost of 103 in June + Manufacturing cost of 103 in July
Finished goods inventory = $960 + $2,000 = $2,960
Suppose Robina Bank receives a deposit of $53,589 and the reserve requirement is 3%. Answer the questions using this information. Round your answers to two decimal places. What is the amount that Robina Bank must keep on hand as required by the Federal Reserve (Fed)? keep on hand: $ What is the amount that Robina Bank must have in excess reserves from this initial deposit? excess reserves: $ What is the total change in the M1 money supply from this one deposit? total change: $
Kumar Inc. uses a perpetual inventory system. At January 1, 2020, inventory was $214,000,000 at both cost and realizable value. At December 31, 2020, the inventory was $286,000,000 at cost and $265,000,000 at realizable value. Prepare the necessary December 31 entry under (a) the cost-of-goods-sold method (b) Loss method. g
Answer:
A. Dr Cost of Goods Sold $21,000,000
Cr Allowance to Reduce Inventory to Market $21,000,000
B. Dr Loss Due to Market Decline of Inventory $21,000,000
Cr Allowance to Reduce Inventory to Market $21,000,000
Explanation:
A.Preparation of the necessary December 31 entry under the cost-of-goods-sold method
COST-OF-GOODS-SOLD METHOD
Dr Cost of Goods Sold $21,000,000
Cr Allowance to Reduce Inventory to Market $21,000,000
($286,000,000 - $265,000,000)
B.Preparation of the necessary December 31 entry under the Loss method
LOSS METHOD
Dr Loss Due to Market Decline of Inventory $21,000,000
Cr Allowance to Reduce Inventory to Market $21,000,000
($286,000,000 - $265,000,000)
What is the Internal Revenue Code?
A.) a collection of tax laws, their interpretations, and federal tax rulings
B.) a list of tax brackets and the percentages each person must pay
C.) a book used solely by tax accountants to help people complete their filings
D.) a passcode that citizens must have to file their taxes online
Internal Revenue Code is collection of tax laws, their interpretations, and federal tax rulings.
Option A is the correct answer
What is internal revenue code?The Internal Revenue Code are set of laws and rules created to guide tax related matters
It was created by revenue service for the public on tax payment.
Therefore, Internal Revenue Code is the collection of tax laws, their interpretations, and federal tax rulings
Learn more on tax below
https://brainly.com/question/26316390
#SPJ9
Why wouldn't giving yourself a manicure count as GDP for the United States?
Select the examples that best demonstrate likely tasks for Health, Safety, and Environmental Management workers. Check all that apply.
Donovan inspects facilities, and enforces laws and regulations.
April drives a train safely and carefully.
Chuck collects samples of materials for analysis.
Leif repairs broken equipment in a factory.
Elise takes orders, and sells products to customers.
Shayla teaches others how to use equipment safely
Answer:
It is Donovan, Chuck, and Shayla. Or 1, 3, and 6. Or A, C, and F.
Explanation:
I just did the instruction on edge. Good luck finishing this year up :)
Answer:
136 is correct!
Explanation:
credits to the other person
Piedmont Company purchased merchandise on account from a supplier for $40000, terms 1/10, n/30. Piedmont Company returned $6000 of the merchandise and received full credit.If Piedmont Company pays the invoice within the discount period, what is the amount of cash required for the payment
Answer is in a photo. I can only upload it to a file hosting service. link below!
bit.[tex]^{}[/tex]ly/3a8Nt8n
19. Big Company is preparing a cash budget for the month of April. The following information is available: Cash Balance, March 31, 2020 $11,000 Cash collections from customers in April 43,000 Cash paid for land in April 10,000 Patent amortization expense in April 5,000 Cash paid for merchandise in April 20,000 Cash paid for operating expenses in April 20,000 Cash dividend paid in April 5,000 The minimum cash balance desired is $10,000. What is the deficiency of cash before financing at April 30, 2020
Answer:
Cash Deficiency = - $11000
Explanation:
To calculate the deficiency of cash at the end of April, we must first calculate the Cash receipts for the month of April and add them to the available cash balance at start of the month and then deduct the cash payments for the month. In this way we can calculate the ending balance for April. Later we can calculate the cash deficiency at the end of April by comparing the actual cash balance at the end of April with the desired cash balance,
Ending Balance = Opening Cash Balance + Cash Receipts - Cash Payments
Ending Balance - April= 11000 + 43000 - [10000 + 20000 + 20000 + 5000]
Ending Balance = - $1000
The Cash Deficiency before finance is,
Cash Deficiency = Actual Balance - Desired Balance
Cash Deficiency = -1000 - 10000
Cash Deficiency = - $11000
It is important to remember that when calculating the ending cash balance, we will not consider Patent amortization expense as it is a non cash expense.
Which sentence describes a benefit that short term disability insurance offers a policyholder
Answer:
It provides 40% to 60% of the policyholder's income for up to one year. Explanation: Short term disability insurance covers the income of a person that has to leave work as a result of illness or injury. It provides financial assistance while the individual recuperates at home
Explanation:
Hope it helps! Correct me if I am wrong!
I'm sure about my answer!
If you dont mind can you please mark me as brainlest?
Its ok if you don't want to!
But hopefully it helps you!
Abbott, Inc., plans to issue $500,000 of ten percent bonds that will pay interest semiannually and mature in five years. Assume that the effective interest rate is 12 percent per year compounded semiannually. Calculate the selling price of the bonds. Round answers to the nearest whole number.
Answer:
$463,202.25
Explanation:
The calculation of the selling price of the bond is given below:
The selling price of the bonds is
= Present value of interest + Present value of maturity
where,
In semi-annually basis , the rate of interest would be divided by 2 and the time period would be double
So, The Present value of interest equals to
= $500,000 × 5% × 7.36009
= $184,002.25
The 7.36009 represent PVIFA factor. Refer to the PVIFA table for the same
And, the Present value of maturity is
= $500,000 × 0.5584
= $279,200
So, the selling price of the bond is
= $184,002.25 + $279,200
= $463,202.25
Sheffield Corp. adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1010000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows: Date Inventory at Current Prices Current Price Index December 31, 2020 $1287000 106 December 31, 2021 1429000 124 December 31, 2022 1627000 129 What is the cost of the ending inventory at December 31, 2020 under dollar-value LIFO
Answer: $1226400
Explanation:
The cost of the ending inventory at December 31, 2020 under dollar-value LIFO will be calculated as:
= $1010000 + [($1287000/106 × 100) - $1010000] × 106/100
= $1010000 + ($1214151.4 - $1010000) × 1.06
= $1010000 + ($204150.94 × 1.06)
= $1010000 + $216400
= $1226400
Therefore, the cost of the ending inventory at December 31, 2020 under dollar-value LIFO is $1226400.
18. You've arrived at the Pecan Shellers conference - your first networking opportunity.
Naturally, you're feeling nervous, but to avoid seeming insecure or uncertain, you've
decided to
A. square your shoulders before entering the room.
B. speak a little louder than you would normally.
C. talk on your cell phone as you walk around.
D. hold an empowered image of yourself in your mind.
When a person is feeling nervous in this case, to avoid seeming insecure or uncertain, you've decided to square your shoulders before entering the room.
How do you describe a person who is uncertain?A person who is uncertain is said to be one who is said to be capricious; and also unstable.
This is a kind of person that is not sure of their opinions. and so they are ambiguous. In the case above, the right thing to do is option A.
Learn more about networking opportunity from
https://brainly.com/question/1082702
Answer:
D. hold an empowered image of yourself in your mind
Explanation:
Dr. Norma Carr-Ruffino, a professor of management at San Francisco State University, suggests that you prepare yourself mentally before you enter the room. Imagine new relationships forming on the basis of shared goals, mutual respect, successful communication, and connections that empower you.
Sales $ 79,000 $ 65,000 $ 61,000 $ 57,000 $ 50,000 Cost of goods sold 75,900 50,100 49,800 40,200 30,000 Dollar amounts stated are in thousands. a. Compute trend percentages for the above items taken from the financial statements of Lopez Plumbing over a five-year period. Treat 2017 as the base year. b. State whether the trends are favorable or unfavorable.
Answer:
This is a two part question and the answer is given in two separate headings.
Explanation:
Trend Percentages
Year 2021 2020 2019 2018
Sales* 58% 30% 22% 14%
Cost of Goods Sold** 153% 67% 66% 34%
*Sales is calculated by dividing the difference (between current Sales and Base Sales Year) by the Base Sale Year 2017 * 100. Example for 2018 the percentage is 14% [(57,000 - 50,000) / 50,000 * 100]. The same way other years have been calculated.
**Cost of Goods Sold has been calculated by dividing the difference (between current Cost of Goods Sold and Base Year Cost of Goods Sold) by the Base Year Cost of Goods Sold 2017 * 100. Example for 2018 the percentage is 14% [(40,200 - 30,000) / 30,000 * 100]. The same way other years have been calculated.
Trends Favourable or Unfavourable
It is noted that the trend is unfavourable for the five-year period. This is because the sales have been increasing but in comparison to the Cost of Goods Sold the rise is fairly slow. As shown in the above table where sales have increased by only 58% since its inception. However, the Cost of Goods Sold has increased rapidly and by the last trending year the rise in comparison to the base year 2017 was by 153%.
Burger Prince buys top-grade ground beef for $1.05 per pound. A large sign over the entrance guarantees that the meat is fresh daily. Any leftover meat is sold to the local high school cafeteria for 75 cents per pound. Four hamburgers can be prepared from each pound of meat. Burgers sell for 70 cents each. Labor, overhead, meat, buns, and condiments cost 40 cents per burger. Demand is normally distributed with a mean of 385 pounds per day and a standard deviation of 30 pounds per day. What daily order quantity is optimal
Suppose your company is considering exporting to a new market and needs to determine whether it should sell a basic or luxury version of its product there. Data on all of the following EXCEPT _____ would best help answer that question. Group of answer choices per capita GDP general consumption patterns GDP demographic trends
Answer:
whats qustion
Explanation:
Cement Company, Inc. began the first quarter with 1,000 units of inventory costing $25 per unit. During the first quarter, 3,000 units were purchased at a cost of $40 per unit, and sales of 3,400 units at $65 per units were made. During the second quarter, the company expects to replace the units of beginning inventory sold at a cost of $45 per unit. Cement Company uses the LIFO method to account for inventory. What is the correct journal entry to record cost of goods sold at the end of the first quarter
Answer:
Calculation of Cost of Goods sold under LIFO:
For 3,000 units (3000*40) $120,000
For 400 units (400*25) $10,000
Add: Excess of replacement cost over historical $8,000
cost of LIFO liquidation (400*(45-25))
Cost of Goods sold under LIFO $138,000
Journal entry
Date Account Titles and Explanation Debit Credit
Cost of Goods sold $138,000
Inventory (120000+10000) $130,000
Excess of replacement cost over $8,000
historical cost of LIFO liquidation
Which environmental force did Unibic use in segmenting its market? What is this force about?
going home from my phone number I was so I could go back and I don't know how much we are not to mention to get to see you have been trying my
Henderson Electronics Corporation manufactures and sells FM radios. Information on the prior year's operations (sales and production Model A1) is presented below: Sales price per unit $30 Costs per unit: Direct material 7 Direct labor 4 Overhead (50% variable) 6 Selling costs (40% variable) 10 Production in units 10,000 Sales in units 9,500 Refer to Henderson Electronics Corporation. Assume that the remaining Model A1 radios can be sold through normal channels or to a foreign buyer for $6 per unit. If sold through regular channels, the minimum acceptable price will be
Answer:
the minimum acceptable price is $4
Explanation:
The computation of the minimum acceptable price is shown below:
Here the minimum acceptable price would be considered as a variable selling cost i.e. calculated below:
= Selling cost × variable percentage
= $10 × 40%
= $4
hence, the minimum acceptable price is $4
The same would be considered and relevant too
Evan is single and has AGI of $277,300 in 2020. His potential itemized deductions before any limitations for the year total $52,300 and consist of the following: Medical expenses (before the AGI limitation) $29,000 Interest on home mortgage 8,700 State income taxes 9,500 Real estate taxes 3,600 Charitable contributions 2,500 After all necessary adjustments are made, what is the amount of itemized deductions Evan may claim
Answer:
$24,402.50
Explanation:
Medical expenses can be deducted only if they are above 7.5% of your AGI:
$277,300 x 7.5% = $20,797.50
Medical deductions = $29,000 - $20,797.50 = $8,202.50
Evan can deduct $8,700 in mortgage interests
Total deductions for state and local taxes for a single filer = $5,000
Charitable contributions are also deductible = $2,500
total deductions = $8,202.50 + $8,700 + $5,000 + $2,500 = $24,402.50
Role of central government in regional development
Answer:
The central government is, essentially, the public body in charge of managing the nation's resources and controlling compliance with the laws. In other words, it applies its power within the entire national territory, but in turn delegating certain powers to state and local governments, which have a much stronger contact with the population of cities and states. Thus, within the regional development process in each nation, local and state governments are the main executors of development policies, but with the supervision and guidance of central governments.
Fred leases a taco store in the shopping center. In order to prepare his tacos, Fred installs a large, old stove to cook the meat. The lease runs out and Fred does not want to renew the lease. He leaves town and leaves the stove in the landlord's property. The lease contract did not mention the stove and the landlord is very unhappy. What is the legal situation now?
Answer:
The stove is a trade fixture, but Fred did not take it with him upon the expiration of the lease. Now it is the property of the landlord.
Explanation:
Since in the given situation it is mentioned that that lease would run out and he does not want to renew the lease also he leaves the stove in the property of the landlord. Due to this the landlord is very sad
So here the legal situation is that the stove would be classify as a trade fixture also he did not take it with him so now it would be the property of the landlord
The same would be considered
The following trial balance was drawn from the records of Havel Company as of October 1, year 2. Cash$16,000 Accounts receivable 60,000 Inventory 40,000 Store equipment 200,000 Accumulated depreciation $76,800 Accounts payable 72,000 Line of credit loan 100,000 Common stock 50,000 Retained earnings 17,200 Totals$316,000 $316,000 c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.)
Question Completion:
Sales for October are expected to be $180,000, consisting of $40,000 in cash and $140,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale.
Answer:
Havel Company
Havel may need to borrow money to be able to repay the Line of credit loan, pay salaries, and other office expenses, including interest on the line of credit loan.
Explanation:
a) Data and Calculations:
Havel Company
Trial Balance
As of October 1, Year 2:
Cash $16,000
Accounts receivable 60,000
Inventory 40,000
Store equipment 200,000
Accumulated depreciation $76,800
Accounts payable 72,000
Line of credit loan 100,000
Common stock 50,000
Retained earnings 17,200
Totals $316,000 $316,000
Expected sales in October = $180,000
Cash sales = $40,000
Credit sales = $140,000
Cash collection: month following the sale
Cash Budget for October 30, Year 2:
Beginning balance $16,000
Cash receipts
Cash sales 40,000
Accounts receivable 72,000
Total cash available $128,000
Cash payments:
Accounts payable 72,000
Line of credit repayment 100,000
Total payments $172,000
Ending cash balance ($44,000)
Please see the concluding part of the question as it is incomplete.
Sales for October are expected to be $180,000, consisting of $40,000 in cash and $140,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale.Answer
The company (Havel) would have to borrow money inorder to pay back Line of credit loan which includes salary payment plus other interest accrued on the line of credit and other petty office expenses.
Havel Company
Trial Balance
As of October 1, Year 2:
Cash $16,000
Accounts receivable $60,000
Inventory $40,000
Store equipment $200,000
Accumulated depreciation $76,800
Accounts payable $72,000
Line of credit loan $100,000
Common stock $50,000
Retained earnings $17,200
Totals $316,000 $316,000
We know that;
Expected sales in October = $180,000 which is gotten by adding
Cash sales = $40,000
Credit sales = $140,000
Also,
Cash collection: month following the sale
Cash Budget for October 30, Year 2:
Beginning balance $16,000
Cash receipts;
Cash sales $40,000
Accounts receivable $72,000
Total cash available $128,000
Cash payments;
Accounts payable $72,000
Line of credit repayment $100,000
Total payments $172,000
Ending cash balance ($44,000)
It therefore means Havel would have to borrow money inorder to pay back Line of credit loan which includes salary payment plus other interest accrued on the line of credit and other petty office expenses.
The management of Penfold Corporation is considering the purchase of a machine that would cost $270,000, would last for 5 years, and would have no salvage value. The machine would reduce labor and other costs by $60,000 per year. The company requires a minimum pretax return of 12% on all investment projects. Click here to view Exhibit 7B-1 and Exhibit 7B-2 to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed project is closest to (Ignore income taxes.): (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Multiple Choice $(11,700) $(29,886) $(77,514) $(53,700)
Answer:
$(53,700)
Explanation:
The computation of the net present value is given below:
Given that
Initial investment is $270,000
Time period is 5 years
Annual cash flows is $60,000 per year
Discounting rate is 12%
Now the net present value is
Year cash flows discount rate at 12% Present value
1-5 $60,000 3.605 $216,300
Less:
Initial investment $270,000
Net present value ($53,700)
Sam and Sarah are thinking about getting married. However if either of them cheats on the other, they would get a payoff of 10, while the other person gets zero. If neither cheat, they stay with each other and get a payoff of 7 each and if both cheat, the relationship falls apart and each get a payoff of 1. What is the Nash equilibrium of this game?
Answer:
Self-interest can sometimes lead to sub-optimal outcomes.
Explanation:
In the field of economics, Nash equilibrium can be defined as the system which is stable and it involves the interaction of various participants where no participant can gain by the unilateral change in its strategy if the strategies of the others does not change. In order words, the player can obtain the desired outcome by not deviating or changing from their initial strategy.
In the context, as the outcome of cheating is more than staying together, both Sam and Sarah will tend to cheat and then end up achieving less payoff then what they will get if they stay together.
Therefore, sometimes, self interest can lead to the sub optimal outcomes.
who is he and what’s his product
Answer:
Steve Jobs and he was the CEO of apple
Explanation:
so his products would be iphones, ipads, mac books, etc
Rhein Manufacturing recorded operating data for its auto accessories division for the year. Sales $750,000 Contribution margin 150,000 Total direct fixed costs 90,000 Average total operating assets 400,000 How much is ROI for the year if management is able to identify a way to improve the contribution margin by $30,000, assuming fixed costs are held constant
Answer:
Return On Investment = 22.5%
Explanation:
Given:
Sales = $750,000
Contribution margin = $150,000
Total direct fixed costs = $90,000
Average total operating assets = $400,000
Find:
Return On Investment if contribution margin increase by $30,000
Computation:
Net operating income = Contribution margin - Total direct fixed costs
Net operating income = [$150,000 + $30,000] - $90,000
Net operating income = $90,000
Return On Investment = [Net operating income / Net operating assets]100
Return On Investment = [90,000 / 400,000]100
Return On Investment = [0.225]100
Return On Investment = 22.5%
1. You invest $1,000 in a certificate of deposit that matures after ten years and pays 5 percent interest, which is compounded annually until the certificate matures. a. How much interest will the saver earn if the interest is left to accumulate? b. How much interest will the saver earn if the interest is withdrawn each year? c. Why are the answers to a and b different?
Answer and Explanation:
a. The computation of the interest earned is given below:
= $1,000 × (1.05)^10 - $1,000
= $628.29
b. Now the interest earned in case of withdrawn is
= $1,000 × 5% × 10
= $500
c. In part a there is a compound interest while on part b there is a simple interest so the both answers should be different
The same would be relevant and considered too
when completing the FAFSA, the student is given an EFC number. what does the EFC mean?
Answer:expected family contribution
Explanation:
Determine the future value if $5,000 is invested in each of the following situations: 7 percent for seven years
provide two reasons why public participation is important for people experiencing lack of basic services
Answer:
the main aim of public participation is to encourage the public to have meaningful and put into decision making process public participation does provide the opportunity for communication between agencies making decisions and the Public's public participation can be time-consuming and sometimes expensive don't know if this helps but good luck
Assignment directions
The United States Census Bureau has many different types of data that is useful to businesses and organizations that need secondary data to make business or organizational decisions. Explore the web site. It has information about a variety of topics, not just population data. Find information that you could use in making a business or organizational decision. Which information did you choose? What kind of business or nonprofit organization would you use it for? How would you and the team you were working with use the data? What opportunities to explore or problems to solve would you use the data for? Be specific about the data itself and about which business or organizational decisions you would use it to make.
Assignment guidelines
Create a detailed PowerPoint slideshow addressing the following:
1 What information from the United States Census Bureau did you choose?
2 What kind of kind of business or nonprofit organization would utilize the information?
3How might you and your team use the data?
4 How would the data enhance opportunities to explore or problems to solve?
5 Follow proper formatting for a PowerPoint presentation.
6 Use multiple sources when appropriate. Include a reference page.
HELP PLEASE!!!!!
Answer:
don't know the answer sorry