Answer:
Clear Transmissions Company
Clear Transmissions Company
Statement of Cash Flows for the year ended December 31, 2021
Operating activities: ($ in 000s)
Net Income $252
Depreciation expense 250
Amortization expense 38
Loss on sale of cash equivalents 20
Changes in working capital:
Accounts receivable 15
Inventory 14
Accounts payable 8
Salaries payable (8)
Interest payable 6
Income tax payable 7
Cash flow operations $602
Explanation:
a) Data and Calculations:
CLEAR TRANSMISSIONS COMPANY
Income Statement
For the Year Ended December 31, 2021 ($ in thousands)
Sales $ 2,160
Cost of goods sold 864
Gross margin 1,296
Salaries expense $ 388
Depreciation expense 250
Amortization expense 38
Interest expense 96
Loss on sale of cash equivalents 20 792
Income before taxes 504
Income tax expense 252
Net Income 252
CLEAR TRANSMISSIONS COMPANY
Selected Accounts from Comparative Balance Sheets
December 31, 2021 and 2020 ($ in 000s)
Year 2021 2020 Change
Cash 135 128 7
Accounts receivable 259 274 (15 )
Inventory 464 478 (14 )
Accounts payable 198 190 8
Salaries payable 106 114 (8)
Interest payable 54 48 6
Income tax payable 45 38 7
In a statement of cash flows using the indirect method, an increase in the available-for-sale debt securities account due to an increase in the debt's fair value should be reported as: Group of answer choices A deduction from net income in determining cash flows from operating activities. Not reported. An investing activity. An addition to net income in determining cash flows from operating activities.
Answer: Not reported.
Explanation:
The Indirect method includes Net income in its calculation but this would not include any increase in Available-For-Sale (AFS) debt securities as these fall under other comprehensive income in the balance sheet.
Most importantly, the indirect method of calculating the cash the company has is for calculating just that, the cash. This means that an increase in the AFS security due to its fair value increasing will bring in no additional cash to the company so it is not reported in the cash flow statement.
Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: 1 Sales (38,000 units) $9,500,000.00 2 Production costs (44,000 units): 3 Direct materials $4,400,000.00 4 Direct labor 1,760,000.00 5 Variable factory overhead 1,100,000.00 6 Fixed factory overhead 660,000.00 7,920,000.00 7 Selling and administrative expenses: 8 Variable selling and administrative expenses $1,170,000.00 9 Fixed selling and administrative expenses 200,000.00 1,370,000.00 Required: a. Prepare an income statement according to the absorption costing concept\.\* b. Prepare an income statement according to the variable costing concept\.\* c. What is the reason for the difference in the amount of Operating income reported in (a) and (b)
Answer:
a.
income statement according to the absorption costing concept.
Sales $9,500,000.00
Less Cost of Sales ($6,840,000.00)
Gross Profit $2,660,000.00
Less Expenses
Variable selling and administrative expenses ($1,170,000.00)
Fixed selling and administrative expenses ($200,000.00)
Net Income $1,290,000.00
b.
income statement according to the variable costing concept
Sales $9,500,000.00
Less Cost of Sales ($6,270,000.00)
Contribution $3,230,000.00
Less Expenses
Fixed factory overhead ($660,000.00)
Variable selling and administrative expenses ($1,170,000.00)
Fixed selling and administrative expenses ($200,000.00)
Net Income $1,200,000.00
c.
The difference is due to fixed cost included in closing inventory under the absorption costing concept.
Explanation:
Production Cost - Absorption Costing
Direct materials $4,400,000.00
Direct labor $1,760,000.00
Variable factory overhead $1,100,000.00
Fixed factory overhead $660,000.00
Total $7,920,000.00
therefore,
Cost of Sales = 38,000 units/ 44,000 units x $7,920,000.00
= $6,840,000
Production Cost - Variable Costing
Direct materials $4,400,000.00
Direct labor $1,760,000.00
Variable factory overhead $1,100,000.00
Total $7,260,000.00
therefore,
Cost of Sales = 38,000 units/ 44,000 units x $7,260,000.00
= $6,270,000
a. Income Statement according to Absorption Costing Concept:
Sales: $9,500,000.00
Cost of Goods Sold:
Direct Materials: $4,400,000.00
Direct Labor: $1,760,000.00
Variable Factory Overhead: $1,100,000.00
Fixed Factory Overhead: $660,000.00
Total Manufacturing Costs: $7,920,000.00
Gross Profit: $1,580,000.00
Selling and Administrative Expenses:
Variable Selling and Administrative Expenses: $1,170,000.00
Fixed Selling and Administrative Expenses: $200,000.00
Total Selling and Administrative Expenses: $1,370,000.00
Operating Income: $210,000.00
b. Income Statement according to Variable Costing Concept:
Sales: $9,500,000.00
Variable Costs:
Direct Materials: $4,400,000.00
Direct Labor: $1,760,000.00
Variable Factory Overhead: $1,100,000.00
Variable Selling and Administrative Expenses: $1,170,000.00
Total Variable Costs: $8,430,000.00
Contribution Margin: $1,070,000.00
Fixed Costs:
Fixed Factory Overhead: $660,000.00
Fixed Selling and Administrative Expenses: $200,000.00
Total Fixed Costs: $860,000.00
Operating Income: $210,000.00
In absorption costing, fixed manufacturing overhead is treated as a product cost and is included in the cost of goods sold. This means that a portion of fixed overhead is allocated to each unit produced, resulting in higher inventory values and a higher cost of goods sold.
In variable costing, fixed manufacturing overhead is treated as a period cost and is not included in the cost of goods sold. It is instead expensed in the period incurred. This means that fixed overhead is only expensed when it is incurred and is not allocated to units in inventory.
Since the number of units produced (44,000 units) exceeded the number of units sold (38,000 units), the fixed overhead allocated to the 6,000 unsold units under absorption costing contributes to the difference in reported operating income between the two methods. In this case, the absorption costing method reports higher operating income due to the allocation of fixed overhead to units in inventory.
Learn more about Absorption Costing here:
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If the demand for labor falls from D to D' and wages are sticky on the downward side, there will be unemployment of ________ million. a. 75 b. 100 c. 25 d. None of the above
Answer:
There will be unemployment of 100 million. The correct option is b. 100.
Explanation:
Note: This question is not complete because the graph is not attached. The graph is therefore provided before answering the question. See the attached photo for the graph.
From the attached graph, we have:
Equilibrium units of labor at D = 300 million
Equilibrium units of labor at D’ = 200 million
Employment If the demand for labor falls from D to D' = Equilibrium units of labor at D’ - Equilibrium units of labor at D = 300 million - 200 million = 100 million
Therefore, there will be unemployment of 100 million. The correct option is b. 100.
the objective section of a resume should consist of no more than:
A. One to two sentences
B. One page
C. A half-page
D. One paragraph
Answer:A
Explanation:
A p e x
Answer:
A. One to two sentences
Explanation:
You dont want whomever is reading your resume to think that you are full of yourself.
Carmel Corporation is considering the purchase of a machine costing $52,000 with a 4-year useful life and no salvage value. Carmel uses straight-line depreciation and assumes that the annual cash inflow from the machine will be received uniformly throughout each year. In calculating the accounting rate of return, what is Carmel's average inv
Answer:
$26,000
Explanation:
Average investment = (Initial investment + Salvage value) / 2
Average investment = ($52,000 + $0) / 2
Average investment = $52,000 / 2
Average investment = $26,000
So, Carmel's average investment is $26,000.
A company's flexible budget for 22,000 units of production showed per unit contribution margin of $3.50 and fixed costs, $38,600. The operating income expected if the company produces and sells 28,000 units is:
Answer:
$59,400
Explanation:
Operating income = Contribution - Fixed Costs
therefore,
At the activity of 28,000 units results will be :
Contribution (28,000 units x $3.50) $98,000
Less Fixed Costs ($38,600)
Operating Income $59,400
Thus,
The operating income expected if the company produces and sells 28,000 units is $59,400
Which of the following is not one of the three types of business arrangements in the United
States?
A. sole proprietorship
B. partnership
C. corporation
D. sole partnership
Answer:
a
Explanation:
Assume that a profit-maximizing firm which competes in a purely competitive product industry has only two factor inputs, labor and capital, and that resource prices remain constant. This firm finds that the marginal revenue product of labor (MRP) when divided by the price for labor (MRC) is less than one. The firm also finds that the marginal revenue product for capital (MRP) when divided by the price (MRC) is greater than one. If this firm wishes to produce the same amount of output with these two resources, but minimize the cost of output, this firm must employ:________
a. less labor and more capital
b. more capital
c. more labor and capital
d. less labor
e. more labor and less capital
Answer: a. less labor and more capital
Explanation:
When the Marginal Revenue Product of Labor (MRP) is divided by the price for labor (MRC), the result is less than 1. This means that for every dollar spent on labor, labor produces less than a dollar. The labor is therefore not efficient.
This is the reverse for capital where the marginal revenue product for capital (MRP) when divided by the price (MRC) is greater than one which means that for every dollar investment in capital, more than a dollar is made.
As capital is more efficient, it would make sense to invest more in capital whilst reducing the investment in labor as this would lead to more gain for the company.
Baymont Corporation purchased inventory on account on March 3, 2017, for a gross price of $50,000. The company purchased additional inventory on account on March 10, 2017, for a gross price of $140,000. Baymont Corporation paid for the frst purchase on April 25, 2017, and for the second purchase on March 20, 2017. The company prepares monthly adjusting journal entries and uses the perpetual inventory method. Prepare journal entries for each transaction.
Answer:
Baymont Corporation
Journal Entries:
March 3, 2017: Debit Inventory $50,000
Credit Accounts payable $50,000
To record the purchase of goods on account.
March 10, 2017: Debit Inventory $140,000
Credit Accounts payable $140,000
To record the purchase of goods on account.
March 20, 2017: Debit Accounts payable $140,000
Credit Cash $140,000
To record the payment for goods purchased on account.
April 25, 2017: Debit Accounts payable $50,000
Credit Cash $50,000
To record the payment for goods purchased on account.
Explanation:
a) Data and Analysis:
March 3, 2017: Inventory $50,000 Accounts payable $50,000
March 10, 2017: Inventory $140,000 Accounts payable $140,000
March 20, 2017: Accounts payable $140,000 Cash $140,000
April 25, 2017: Accounts payable $50,000 Cash $50,000
Required information Exercise 10-11 Effects of Changes in Profits and Assets on Return on Investment (ROI) [LO10-1] Skip to question [The following information applies to the questions displayed below.]
Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority to make investments as needed, are evaluated based largely on return on investment (ROI). The company's Springfield Club reported the following results for the past year:
Sales $ 780,000
Net operating income $ 17,940
Average operating assets $ 100,000
The following questions are to be considered independently.
Assume that the manager of the club is able to reduce expenses by $3,120 without any change in sales or average operating assets.
What would be the club’s return on investment (ROI)? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Answer:
Fitness Fanatics
Springfield Club
The return on investment (ROI) = = 21.06%
Explanation:
a) Data and Calculations:
Sales $ 780,000
Net operating income $ 17,940
Average operating assets $ 100,000
1. Assume that the manager of the club is able to reduce expenses by $3,120 without any change in sales or average operating assets, the return on investment would be:
= Net operating income/Average operating assets * 100
= ($ 17,940 + $3,120)/$ 100,000 * 100
= 21.06%
b) The return on investment metric measures an entity's financial performance, using the annual returns and average operating assets or initial investment cost.
palmer corp is considering the purchase of new equipment the cost savings from the equipment would result in the annual increase income after tax of 133500 the equipment will have an initial cost of 534000 and have a 7 year life is the salvage value estimated to be 9000 what is estimated to be the payback period
Answer:
Payback period= 4 years
Explanation:
The payback period is the estimated length of time in years it takes
the net cash inflow from a project to equate the net cash the initial cost.
Where a project is expected to generate a series of equal annual net cash inflow, the payback period can be calculated as:
The initial invest /Net cash inflow per year
So the payback period for project X
= $534,000/133,500
= 4 years
Payback period= 4 years
Question: According to a Honda press release on October 23, 2006, sales of the fuel-efficient four-cylinder Honda Civic rose by 7.1% from 2005 to 2006. Over the same period, according to data from the U.S. Energy Information Administration, the average price of regular gasoline rose from $2.27 per gallon to $2.57 per gallon. Using the midpoint method, calculate the cross-price elasticity of demand between Honda Civics and regular gasoline. According to your estimate of the cross-price elasticity, are the two goods gross complements or gross substitutes
Explanation:
because im a grade 3UML Foods reported $940 million in income before income taxes for 2020, its first year of operations. Tax depreciation exceeded depreciation for financial reporting purposes by $120 million. The company also had non-tax-deductible expenses of $80 million relating to permanent differences. The income tax rate for 2020 was 35%, but the enacted rate for years after 2020 is 30%. The balance in the deferred tax liability in the December 31, 2020, balance sheet is:
Answer:
$36,000,000
Explanation:
Note: Permanent differences have no impact on deferred taxes.
Deferred tax liability = $120 million * 30%
Deferred tax liability = $120 million * 0.30
Deferred tax liability = $36,000,000
So, the balance in the deferred tax liability in the December 31, 2020, balance sheet is $36,000,000.
Hirons Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $57,740 per month plus $3,006 per flight plus $17 per passenger. The company expected its activity in November to be 85 flights and 257 passengers, but the actual activity was 88 flights and 259 passengers. The actual cost for plane operating costs in November was $315,650. The spending variance for plane operating costs in November would be closest to:
Answer:
$10,721
Explanation:
Particulars Amount
Flexible budget ($57,440+($3,006*88)+($17*259)] $326,371
Actual results $315,650
Spending variance $10,721
Thus, the spending variance for plane operating costs in November would be $10,721.
Identify the statement below that is true regarding the Allowance for Doubtful Accounts account. Multiple Choice The account has a normal credit balance and is reported on the balance sheet. The account has a normal debit balance and is reported on the balance sheet. The account has a normal credit balance and is reported on the income statement. The account has a normal debit balance and is reported on the income statement.
Answer: The account has a normal credit balance and is reported on the balance sheet.
Explanation:
The allowance for doubtful accounts refers to the amount of account receivable that the company believes will not be paid by the customers. It is referred to as the bad debt reserve as well.
The allowance for doubtful accounts reduces the accounts receivable. It also has a normal credit balance and is reported on the balance sheet.
You should consider a person's a. Grade in the class b. Personality before asking them to join your study group. C. All of these d. None of these
All of these
Hope it will helps you!
Suppose you can only invest in the stock markets of two countries: US and China. The US has an expected return of 5.0% and a standard deviation of 15.0%. China has an expected return of 7.0% and a standard deviation of 22.0%. The correlation between the returns in the two markets is 0.3. The risk-free rate is 3.0%. What is the maximum Sharpe ratio you can obtain (rounded to the nearest 0.001)
Answer:
The maximum Sharpe ratio you can obtain is 0.182.
Explanation:
Sharpe ratio = (Stock's expected return - Risk-free rate) / Standard Deviation …………… (1)
Therefore, we have:
Sharpe ratio of the US stock market = (5.0% - 3.0%) / 15.0% = 0.133
Sharpe ratio of China stock market = (7.0% - 3.0%) / 22.0% = 0.182
Since you can only invest in the stock markets of US and China, and the Sharpe ratio of China stock market of 0.182 is greater than the Sharpe ratio of the stock market of 0.133, this implies that the maximum Sharpe ratio you can obtain is 0.182.
the total surface area of hemisphere is 4158sq then what is the circumference of the base
Answer:
C = 132 units
Explanation:
Given the following data;
TSA of hemisphere = 4158 sq units
To find the circumference of the base;
Mathematically, the total surface area of a hemisphere is given by the formula;
TSA of hemisphere = 3πr²
First of all, we would determine the radius of the hemisphere.
4158 = 3 * 22/7 * r²
Cross-multiplying, we have;
4158 * 7 = 3 * 22 * r²
29106 = 66r²
r² = 29106/66
r² = 441
Taking the square root of both sides, we have;
r = √441
r = 21 units
Next, we determine the circumference of the base using the same radius;
Circumference of circle, C = 2πr
C = 2 * 22/7 * 21
C = 924/7
C = 132 units
Part U67 is used in one of Broce Corporation's products. The company's Accounting Department reports the following costs of producing the 15,400 units of the part that are needed every year.
Per Unit
Direct materials $2.30
Direct labor $3.30
Variable overhead $6.10
Supervisor's salary $6.60
Depreciation of special equipment $7.70
Allocated general overhead $4.80
An outside supplier has offered to make the part and sell it to the company for $27.00 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company. If the outside supplier's offer were accepted, only $21,400 of these allocated general overhead costs would be avoided.
Required:
a. Prepare a report that shows the financial impact of buying part U67 from the supplier rather than continuing to make it inside the company.
b. Which alternative should the company choose?
Answer:
Broce Corporation
a. The Financial Impact of Buying Part U67 is as follows:
Differential Analysis:
Cost of buying from supplier = $415,800 (15,400 * $27)
Avoidable cost of making = 303,220
Differential cost for buying = $112,500
b. The company should choose to continue to produce the part internally.
Explanation:
a) Data and Calculations:
Production units for the year = 15,400
Per Unit Costs:
Direct materials $2.30
Direct labor $3.30
Variable overhead $6.10
Total variable costs $11.70
Supervisor's salary $6.60
Depreciation of special equipment $7.70
Allocated general overhead $4.80
Total fixed costs $19.10
Total costs $30.80
Outside supplier's offer per unit = $27
Avoidable costs:
Direct materials $2.30
Direct labor $3.30
Variable overhead $6.10
Supervisor's salary $6.60
Total avoidable variable costs $18.30 * 15,400 = $281,820
General overhead costs 21,400
Total avoidable costs = $303,220
Differential Analysis:
Cost of buying from supplier = $415,800 (15,400 * $27)
Avoidable cost of making = 303,220
Differential cost for buying = $112,500
Based on the above financial statements, calculate the following ratios for 2021: income statement Sales 480,000 cost of goods sold 243,200 salaries expense 55,200 depreciation expense 24,000 interest expense 4,500 rent expense 36,000 gain on equipment 0 loss on equipment disposal 1,400 364,300 net income 115,700 Statement of Retained Earnings Beginning Balance - Retained Earnings $ 36,300 Plus - Net Income 115,700 Less - Dividends (18,000) Ending Balance - Retained Earnings $ 134,000 Balance sheets 2020 2021 change Assets: Cash 27,500 72,600 45,100 Accounts Receivable 32,600 47,600 15,000 Inventory 48,000 54,800 6,800 prepaid expenses 7,200 5,200 (2,000) Equipment 56,000 77,000 21,000 Accum. Depr - Equipment (26,500) (32,500) (6,000) total assets 144,800 224,700 Liabilities: Accounts Payable 12,700 25,700 13,000 accrued Liabilities 3,800 5,000 1,200 Bonds Payable 72,000 40,000 (32,000) total liabilities 88,500 70,700 shareholders Equity: Common Stock 20,000 20,000 0 Retained Earnings 36,300 134,000 97,700 total equity 56,300 154,000 total liabilities and shareholder equity 144,800 224,700 A. Current Ratio B. Gross Profit Percentage C. Debt Ratio D. Debt to Equity Ratio
Answer:
A. Current Ratio = 5.87
B. Gross Profit Percentage = 49.33%
C. Debt Ratio = 0.31
D. Debt to Equity Ratio = 0.46
Explanation:
The ratios can be calculated for 2021 as follows:
A. Current Ratio
Current ratio = Current assets / Current liabilities ………………… (1)
Where:
Current assets = Current assets in 2021 = Cash in 2021 + Accounts Receivable in 2021 + Inventory in 2021 + Prepaid expenses in 2021 = $72,600 + $47,600 + 54,800 + $5,200 = $180,200
Current liabilities = Current liabilities in 2021 = Accounts Payable in 2021 + accrued Liabilities in 2021 = $25,700 + $5,000 = $30,700
Substituting the values into equation (1), we have:
Current ratio = 180,200 / 30,700 = 5.87
B. Gross Profit Percentage
Gross Profit Percentage = (Gross profit / Sales) * 100 ………………….. (2)
Where:
Gross profit = Sales – Cost of goods sold = $480,000 - $243,200 = $236,800
Sales = $480,000
Substituting the values into equation (2), we have:
Gross Profit Percentage = ($236,800 / $480,000) * 100 = 49.33%
C. Debt Ratio
Debt ratio = Total debts / Total assets …………………………….. (3)
Where:
Total debts = Total liabilities in 2021 = $70,700
Total assets = total assets in 2021 = $224,700
Substituting the values into equation (3), we have:
Debt ratio = $70,700 / $224,700 = 0.31
D. Debt to Equity Ratio
Debt to Equity Ratio = Total debts / Total equity …………………………….. (4)
Total debts = Total liabilities in 2021 = $70,700
Total equity = total equity in 2021 = $154,000
Substituting the values into equation (4), we have:
Debt to Equity Ratio = $70,700 / $154,000 = 0.46
A business owned and run by one person is called a(n)
a business owned and run by one person is called a(n)
sole proprietorship
Given the following information, calculate the debt coverage ratio for this investment. Potential gross income: $120,000, Vacancy rate: 9%, Net operating income: $57,900, Operating expenses: $51,300, Acquisition Price: $520,000, Debt service: $40,000.
Answer:
the debt coverage ratio is 1.4475 times
Explanation:
The computation of the debt coverage ratio is shown below;
The Debt coverage ratio for investment is
= net operating income ÷ Total debt
= $57,900 ÷ $40,000
= 1.4475 times
BY dividing the net operating income by the total debt we can get the debt coverage ratio
hence, the debt coverage ratio is 1.4475 times
An unfinished desk is produced for $35.65 and sold for $64.20. A finished desk can be sold for $76.00. The additional processing cost to complete the finished desk is $6.15. Provide a differential analysis for further processing. Round your answers to two decimal places, if necessary. Differential revenue from further processing:
Revenue per unfinished desk $___________
Revenue per finished desk _______________
Differential revenue $____________
Differential cost per desk:
Additional cost for producing ___________
Differential from further processing __________
Answer:
Differential revenue from further processing:
= $11.80.
Explanation:
a) Data and Calculations:
Cost of production of an unfinished desk = $35.65
Selling price of an unfinished desk = $64.20
Selling price of a finished desk = $76.00
Additional processing cost = $6.15
Revenue per finished desk $76.00
Revenue per unfinished desk 64.20
Differential revenue $11.80
Differential cost per desk:
Cost of unfinished desk $35.65
Additional cost for producing 6.15
Differential from further processing $41.80
Unfinished Finished Differential
Revenue $64.20 $76.00 $11.80
Cost of production (35.65) (41.80) (6.15)
Net income $28.55 $34.20 $5.65
DS Unlimited has the following transactions during August.
August 6 Purchases 54 handheld game devices on account from GameGirl, Inc., for $120 each, terms 1/10, n/60.
August 7 Pays $320 to Sure Shipping for freight charges associated with the August 6 purchase.
August 10 Returns to GamerGirl four game devices that were defective.
August 14 Pays the full amount due to GameGirl.
August 23 Sells 34 game devices purchased on August 6 for $140 each to customers on account. The total cost of the 34 game devices sold is $4,257.00. 2.
Required:
Record the period-end adjustment to cost of goods sold on August 31, assuming the company has no beginning inventory and ending inventory has a cost of $2,003.
Answer:
August 6
Debit: Inventory: (54 * $120) = $6480.00
Credit: Accounts Payable: $6,480.00
August 7 - shipping
Debit: Inventory $320.00
Credit: Cash $320.00
August 10
Debit: Accounts Payable :(4 * $120) = $480.00
Credit: Inventory $480.00
August 14
Debit: Accounts Payable : $(6480 - 480) = $6000.00
Credit: Inventory $60.00
Cash : $(6000 - 60) = $5940.00
(August 14th Inventory: $6000 × 1% = $60)
August 23
Debit: Accounts Receivable ($140*34) = $4760
Credit: sales Revenue $4760
August 23
Debit: Cost of Goods Sold $4,257.00
Credit: Inventory $4,257.00
Explanation:
INVENTORY:
The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 3,840 liters in beginning work in process inventory (30% complete). During the period 64,880 liters were completed. The ending work in process was 5,160 liters (70% completed). All inventories are costed by the first-in, first-out method. What is the total equivalent units for direct materials (using the FIFO method) if materials were added at the beginning of the process
Answer:
Total equivalent units of materials = 64,652
Explanation:
Equivalent units are useful to apportion cost between work in progress and completed units. They are notional whole units which represent incomplete work
Equivalent Units = Degree of work completed (%) × inventory units
Fully worked = 64,880- 3,840= 61,040
Items units workings Equivalent units
Opening inventory 3,840 3840× 70% = 2,688
Fully worked 61,040 61,040× 100 = 61,040
Closing WIP 5,160 5,160× 70% = 3,612
Total equivalent units of materials 64,652
Total equivalent units of materials =64,652
Lewis spends a lot of time socializing while at work. In his interactions with Walid, he constantly asks personal questions and shares information about his family and hobbies. This frustrates Walid who just wants to get his work done. This illustrates ____, one of the intercultural communication challenges in business contexts.
Answer:
task versus relationship priority.
Explanation:
A team can be defined as a group of people or set of individuals with various skill set, knowledge and experience coming together to work on a project or task in order to successfully achieve a set goal and objective.
This ultimately implies that, a team comprises of individuals, workers or employees having complementary skills, knowledge and experience needed to execute a project or task successfully. Therefore, workers working as a team usually interact with the other team members and as a result, this enhances performance and strengthen the level of relationship they share.
In this scenario, Lewis spends a lot of time socializing while at work and he constantly asks Walid personal questions and shares information about his family and hobbies. This actions frustrates Walid who is only interested in getting his work done. This illustrates task versus relationship priority, one of the intercultural communication challenges in business contexts.
Twix Dots Skor
Net income $4,200 $106,000 $76,800
Depreciation expense 31,600 8,400 25,600
Accounts receivable increase (decrease) 42,200 21,000 (4,200 )
Inventory increase (decrease) (21,200 ) (10,600 ) 10,600
Accounts payable increase (decrease) 25,400 (23,400 ) 14,800
Accrued liabilities increase (decrease) (46,600 ) 12,800 (8,400 )
Required:
For each separate company, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)
Answer:
Twix, Dots, and Skor
Twix Dots Skor
Net income $4,200 $106,000 $76,800
Depreciation expense 31,600 8,400 25,600
Accounts receivable increase (decrease) 42,200 21,000 (4,200 )
Inventory increase (decrease) (21,200 ) (10,600 ) 10,600
Accounts payable increase (decrease) 25,400 (23,400 ) 14,800
Accrued liabilities increase (decrease) (46,600 ) 12,800 (8,400 )
Cash flows from operations ($6,400) $93,400 $102,400
Explanation:
a) Data and Calculations:
Twix Dots Skor
Net income $4,200 $106,000 $76,800
Depreciation expense 31,600 8,400 25,600
Accounts receivable increase (decrease) 42,200 21,000 (4,200 )
Inventory increase (decrease) (21,200 ) (10,600 ) 10,600
Accounts payable increase (decrease) 25,400 (23,400 ) 14,800
Accrued liabilities increase (decrease) (46,600 ) 12,800 (8,400 )
b) Depreciation is added back to the net income. Increases in current assets are cash outflows, reducing cash flows, while decreases are cash inflows, increasing cash flows. On the other hand, increases in current liabilities are cash inflows, increasing cash flows, while decreases are cash outflows, reducing cash flows.
Which options are available when exporting a table definition and data? Check all that apply
Answer: 1. appending data to an existing table
4. creating a new table and inserting data
Explanation:
Liam works at an IT firm. He finds that the activities carried out by his team are very complex and struggles to complete his tasks on time. He learns that some of his team members are also facing the same issue. Even though there is clarity of the target among the team members, the team struggles to efficiently carry out its task. Which of the following should the team do in order to ensure the completion of the tasks?
It should change the output and retain the workforce.
It should use informal communication to carry out its tasks.
It should standardize the work activities through flowcharts.
It should conduct an in-house training program to bring employees up to speed.
Team-based organizational structures are usually organic and highly decentralized.
True
False
Answer:
It should conduct an in-house training program to bring employees up to speed.
true
Explanation:
An inhouse training would be appropriate to help team members overcome their struggles with the complexity of the tasks. the training would provide more clarification on the tasks to be carried out. this would have the effect of making the task look less complex. Even though there is clarity on the target, there is no clarity on the steps to take to reach the target. Thus, a training is needed.
Team-based organizational structures is when the employees of an organisation are divided into teams. these teams work separately but they work towards a common goal . The structure is usually decentralised. Decisions are made within teams instead of decisions been made by one central body.
Advantages of Team-based organizational structures
communication between employees are faster and more effectiveit increases teamwork Problems are resolved fasterDisadvantages of Team-based organizational structures
it might be difficult to identify employees with low performance as they might be able to hide behind their teamsCharacteristics of an organic organisation includes :
few levels of management,decentralized decision-making, a short chain of command.these are characteristics of a team based organisational structure
Although the Fed has very strong influence over the money supply, it does not have complete control a.Because the Fed has no idea how much reserves will change when it buys or sells securities. b.Because of unpredictable changes in the public's desire to hold cash or borrow and banks' desires to hold reserves or lend. c.Because of unpredictable changes in reserve requirements. d.Because the FOMC meets only twice a year.
Answer: b. Because of unpredictable changes in the public's desire to hold cash or borrow and banks' desires to hold reserves or lend.
Explanation:
The Fed is able to embark on monetary policy that influences the entire country - and the world to some extent - because they have very strong influence over the money supply of the US$.
This influence is not absolute however because as the old adage goes, "you can lead a horse to water but you can't make him drink". In other words, the Fed can relax(impose) restrictions to make money more(less) available but they cannot force people to borrow(hold) that money.
They can't force banks either to either hold reserves or lend money out because banks are free to impose their own reserve limits on top of those of the Fed.