In the Shaping Department of Jenkins Company the unit materials cost is $3.00 and the unit conversion cost is $1.80. The department transferred out 8,000 units and had 2,000 units in ending work in process 20% complete. If all materials are added at the beginning of the process, the total cost to be assigned to the ending work in process is?

Answer:

$652,858

Explanation:

Predetermined overhead rate = Budgeted Overheads ÷ Budgeted Activity

                                                    = $717,474 ÷  364,200

                                                    = $1.97 per direct labor hour

Allocated overheads = Predetermined overhead rate x Actual Activity

                                    = $1.97 x  331,400 direct labor hours

                                     = $652,858

therefore,

The overhead allocated for May is $652,858.

Answer:

a. $125000

Explanation:

Calculation to determine the cost of the ending work in process inventory

Beginning work in process inventory $128000

Add total manufacturing costs $277000

Less cost of goods manufactured $280000

Ending work in process inventory $125000

($128000+$277000-$280000)

Therefore the cost of the ending work in process inventory is $125000

Answer:

11.03 %

Explanation:

Cost of Capital = Cost of equity x Weight of Equity + Cost of Preferred Stock x Weight of Preferred Stock  + Cost of Debt x Weight of Debt.

where,

Cost of equity =  12.80 %

Cost of Preferred Stock = 8.20 %

Cost of Debt =  8.20 x (1 - 0.40) = 4.92 %

also,

Total Market Value = 34,000 x $83 + 7,500 x $97.00 + $416,000 x 113%

                                = $2,822,000 + $727,500 + $470,080

                                = $4,019,580

Weight of Equity = $2,822,000 ÷ $4,019,580 = 0.70

Weight of Preferred Stock = $727,500 ÷ $4,019,580 = 0.18

Weight of Debt = $470,080 ÷ $4,019,580 = 0.12

therefore,

Cost of Capital = 12.80 % x 0.70 + 8.20 % x 0.18 + 4.92 % x 0.12

                         = 11.03 %

Solution :

Given data:

Annual demand, D = 180,000 chairs

Ordering cost, F = $ 150 per order

Annual holding cost per unit, C = $25

Lead time of order, L = 5 days

Standard deviation of order during lead time = 30

a). The optimal order quantity

   [tex]$=\sqrt{\frac{2FD}{C}}$[/tex]

  [tex]$=\sqrt{\frac{2\times 150 \times 180,000 }{25}}$[/tex]

 = 1469.69

 = 1470 (rounding off)

b). The Z value of the customer service of 90%,

i.e., the probability of 0.90 as per normal distribution table = 1.29

∴  Safety stock = Z value x standard deviation of order during lead time

                         = 1.29 x 30

                        = 38.7

                        = 39 (rounding off)

c). The reorder point

 [tex]= \text{Average demand per day} x \text{Demand lead time (day) + Safety stock}[/tex]

 [tex]$=\frac{\text{annual demand}}{\text{300 days}} \times \text{ Demand Lead time (days) + Safety stock}$[/tex]

 [tex]$=\frac{180,000}{300} \times 5 + 39$[/tex]

 = 3039

d). The optimal annual total inventory cost

  [tex]$\text{= Annual ordering cost + Annual Inventory carrying cost}$[/tex]

  [tex]$\text{= Number of orders} \times \text{Ordering cost + Average inventory} \times }$[/tex] [tex]$\text{Inventory holding cost per unit per year}$[/tex]

  [tex]$=\frac{\text{annual demand}}{\text{optimum order quantity}} \times \text{ordering cost+}\frac{\text{optimum ordering cost}}{2}\times C$[/tex]

  [tex]$=\frac{180,000}{1470} \times 150 + \frac{1470}{2} \times 25$[/tex]

 = 18367.34 + 18375

 = $ 36,742.34

Answer:

The dividend for 2017 will be = $2124.98

Explanation:

The net earnings for the year 2016 = $5302

Dividend paid for the year 2016 = $2048

The forecast for the income of 2017 = $5504

The projected dividend for the year 2017 = 5504 x (2047 / 5302)

The projected dividend for the year 2017 = 2124.98

The dividend for 2017 will be = $2124.98

Answer:

a.The project has been approved and it has been proved necessary.

b. They often choose the cheapest budget and do not forecast any problems  in to make the project more viable.

Explanation:

a.There's an extensive process to approve a project like this, since it has so many filters before being approved, canceling it would be saying these filters failed. These filters exist to prove that these projects are necessary and if they're necessary they need to be done, no matter the cost.

b. THe people in charge of setting these projects going often choose the cheapest options to make the projects viable, when doing so the cost will eventually rise and, when the government has already approved it they will continue to spend money on the project.

Answer:

Sustainable agriculture farming.

Explanation:

In Agriculture, there are various farming techniques adopted by farmers for the growth and development of their crops. An effective and efficient agricultural technique would have a significant impact on the level of productivity attained by the farmers and as such meeting the unending requirements or needs (demands) of the consumers.

Basically, there are various agricultural techniques used in farming and these includes;

I. Mixed farming.

II. Arable farming.

III. Pastoral farming.

IV. Bush fallowing.

V. Shifting cultivation.

VI. Nomadic herding.

VII. Subsistence farming.

Sustainable agriculture farming can be defined as a farming model that is typically aimed at providing basic human needs such as food, fiber, textiles, etc., without compromising or jeopardizing the ability of future generations to create agricultural solutions to their own basic needs.

This ultimately implies that, when the production of textiles, fiber and food to meet the present human needs deplete the natural base, there is a direct decrease in the ability of future generations to produce to meet their own basic needs regardless of having the means to produce wealth such as farm equipment, land, cattle, labor, etc.

Using the fair value method, Sunland Company should recognize compensation expenses for 2019on its books in the amount of 2019 is $5,520.

Compensation expenses are compensation-associated expenses used as a reward for exceptional job performance.

Examples of such compensation expense plans include bonuses, commissions, stock options, and profit-sharing.

Number of option shares granted = 1,000 shares

Grant price = $30

Exercise period = 5 years

Total compensation expense based on the fair value option pricing model = $5,520

The 2019 compensation expense = $6,000 ($30 x 1,000)/5

Quoted market prices of Sunland Co. stock in 2021 were:

July 1 = $30 per share

Oct 1 = $36 per share

Dec 1 = $40 per share

Required:

As a result of the option granted to Wine, using the fair value method, Sunland Company should recognize compensation expenses for 2019 on its books in the amount of 2019.

Thus, the 2019 compensation expense is $5,520.

Learn more about stock options at https://brainly.com/question/25693765

Answer:

Payment received from Debtor: it'll increase Assets by $3,000 and reduce another asset by $3,000.Therefore, Il won't affect the financial position of SER. it's just a substitution of 1 sort of asset into another

Explanation:

Accounting Equation: Assets = Equity + Liability  

All the business transaction affects the equation supported double accounting concept. The above transaction will affect the equation in the following manner.  

Credit purchase of equipment: it'll increase Assets by $2,000 and Liability also by $2,000.

Daily rental received by SER: it'll increase Assets by $8,500 and Equity by $8,500. Daily rental is that the income of SER so it'll increase profitability and equity.

Rent received for Feb month: it'll increase Assets by $4,000 and Liability by $4,000. Advance rent is going to be treated as a liability until the proper receive the rent being established.

it'll not affect the equation because merely signing an agreement with no payment for the services won't end in any assets or liability.

Payment received from Debtor: it'll increase Assets by $3,000 and reduce another asset by $3,000.Therefore, Il won't affect the financial position of SER. it's just a substitution of 1 sort of asset into another

Answer: B. The dollar is likely to appreciate in spot markets.

Explanation:

First find the forward rate using the forward rate formula:

Forward rate = Spot rate * (1 + Interest rate of Canada) / (1 + Interest rate of US)

= 1 * ( 1 + 3%) / (1 + 5%)

= 0.980952

= 0.98

The forward rate according to the formula is less than the forward rate that is trading.

This means that the U.S. dollar is trading at a forward discount and when this happens, the dollar will not appreciate in the spot markets because it is scheduled to be discounted in the forward market.

Answer:

c.4.2 years

Explanation:

The computation of the estimated cash payback period is given below:

As we know that

the estimated cash payback period is

= initial investment ÷ net cash flow per period

= $406,000 ÷ $96,000

= 4.2 years

Hence, the estimated cash payback period is 4.2 year

Therefore the option c is correct

Answer:

B) Ryan's stock was sold for $9 a share causing him to lose most of his profits.

Explanation:

Stop loss order means the limit the loss to the extent investor has opted. Since Ryan placed a stop loss order at $70, so, when the price of the stock starts at $9, the stock would be sold at $9 because it is the next available price to what he placed a stop loss order.

So, the Answer is Ryan stock is sold for $9 a share causing him to lose most of his profits.

Answer:

a. cash receipts from sales activities

Explanation:

Cash flows from operating activities can be regarded as a section of a cash flow statement of a company which gives explanation about the sources as well as the uses of cash as regards ongoing regular business activities in particular period. These could typically encompass net income from the income statement as well as changes in working capital and adjustments to net income. It can be regarded as the first section which is depicted on a cash flow statement of a company. It should be noted that On the statement of cash flows, the cash flows from operating activities section would include a cash receipts from sales activities.

Answer:

The Polaris Company

a. Journal Entries

a. Debit Raw materials $210,000

Credit Accounts Payable $210,000

To record the purchase of raw materials on account.

b. Debit Work in Process $152,000

Debit Manufacturing Overhead $38,000

Credit Raw materials $190,000

To record raw materials used in production as direct and indirect.

c. Debit Work in Process $50,000

Debit Manufacturing Overhead $21,000

Credit Payroll $71,000

To record the costs of direct labor and indirect labor.

d. Debit Manufacturing Overhead $104,000

Credit Depreciation on factory equipment, $104,000

To record the depreciation expense.

Debit Manufacturing Overhead $131,000

Credit Other Expense $131,000

To record other manufacturing overhead costs.

f. Debit Work in Process $380,500

Credit Manufacturing Overhead $380,500

To record manufacturing overhead applied at the rate of $5 for 76,100 DLHs.

g. Debit Finished Goods $514,000

Credit Work in Process $514,000

To record the cost of goods manufactured.

h. Debit Cost of Goods Sold $453,000

Credit Finished Goods $453,000

To record the cost of goods sold.

Debit Accounts Receivable $616,080

Credit Sales Revenue $616,080

To record the sale of goods on account at 36% above cost.

b. T-accounts:

Manufacturing Overhead

Account Titles                  Debit       Credit

Raw materials               $38,000

Indirect labor cost           21,000

Factory depreciation    104,000

Other expenses            131,000

Work in Process                          $380,500

Overapplied overhead 86,500

Work in Process

Account Titles                Debit       Credit

Beginning inventory  $42,000

Raw materials             152,000

Direct labor cost          50,000

Overhead                  380,500

Finished Goods                      $514,000

Ending inventory                    $110,500

Explanation:

a) Data and Analysis:

a. Raw materials $210,000 Accounts Payable $210,000

b. Work in Process $152,000 Manufacturing Overhead $38,000 Raw materials $190,000

c. Work in Process $50,000 Manufacturing Overhead $21,000 Payroll $71,000

d. Manufacturing Overhead $104,000 Depreciation on factory equipment, $104,000 Manufacturing Overhead $131,000 Other Expense $131,000

f. Work in Process $380,500 Manufacturing Overhead $380,500

g. Finished Goods $514,000 Work in Process $514,000

h. Cost of Goods Sold $453,000 Finished Goods $453,000

Accounts Receivable $616,080 Sales Revenue $616,080

Answer:

d. $31.19

Explanation:

The computation of the stock price is shown below

Stock Price is

= [$5.10 ÷ (1 + 0.094)^1 + $9.20 ÷ (1 + 0.094)^2 + $12.05 ÷ (1 + 0.094)^3 + $13.80 ÷ (1+0.094)^4]

= $4.66 + $7.69 + $9.20 + $9.63    

= $31.19

hence, the option d is correct

Answer:

First calculate the Cost of Goods sold:

= Opening Finished goods inventory + Goods transferred in - Closing finished goods inventory

= 172,500 + 849,000 - 170,200

= $851,800

The entry to record this is:

Date                Account Title                                        Debit                 Credit

October 31     Cost of Goods Sold                           $851,800

                        Finished Goods Inventory                                          $851,800

Answer: d. All of the above.

Explanation:

The marginal revenue for hiring the workers will be:

= 100 × $20

= $2000

Marginal cost of hiring Tom is $1500. Likewise, the firm should hire Tom since marginal revenue of $2000 is greater than the marginal cost of $1500.

Therefore, the correct option is All of the above.

Answer:

liability of foreignness

Explanation:

Liability of foreignness is defined as the cost above what local firms incur that is realised by companies that operate in a foreign country.

This extra cost is influenced by various business environments that exist in the foreign country.

In the given scenario Disneyland Paris is suffering loss through lawsuits because of the lack of fit between its transferred personnel policies and the French employees charged to enact them.

This conflict is giving an extra cost profile which is referred to as liability of foreignness.

Answer:

only if we include environmental and social goals in the planning.

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Sustainable development can be defined as an idea or development model that is typically aimed at providing basic human needs such as food, fiber, textiles, etc., without compromising or jeopardizing the ability of future generations to create agricultural solutions to their own basic needs.

Generally, economic goals for sustainable development and growth of a country can be formulated only if environmental and social goals are included in the planning.

Answer: $251758.53

Explanation:

Based on the information given in the question,

Total lease liability = $280,000

Then, the balance in the lease payable account when the first lease payment takes place on January 1, 2021 will be:

= $280,000 - $16,427

= $263573

The, the interest that is included in the lease payment that's made on April 1, 2021 Will be:

= $263573 x 7% x 1/4

= $4612.53

Then, the principal amount that's included in the lease payment made on April 1, 2021 will be:

= $16,427 - $4612.53

= $11814.47

Therefore, the balance in the lease payable account after the April 1, 2021, lease payment will be:

= $263573 - $11814.47

= $251758.53

Answer:

$246,800

Explanation:

Calculation to determine What amount should Sunland report as its December 31 inventory

Using this formula

Ending inventory = Inventory count as per physical count + Inventory in transit FOB Shipping point (Purchases) + Inventory in transit FOB destination (Sales)

Let plug in the formula

Ending inventory= $200,000 + $24,840+ $21,960

Ending inventory= $246,800

Therefore What amount should Sunland report as its December 31 inventory is $246,800

Answer: A. The yield curve will become flatter.

Explanation:

With the information given in the question, then it should be expected that the yield curve should be flatter.

On the other hand, if the participants that are in the financial market expect the central bank to pursue a contractionary monetary policy in the future, then the yield curve will become steeper.

Answer:

a. 54

b. 810 dollars

c. 390 dollars

d. 75 pictures

e. 561.6 dollars and 562.5 dollars

f. 38 pictures

Explanation:

demand per week = 18 pictures

annually this demand = 18 *52 = 936

charge per unit = 60 dollars

order for 6 weeks = 6*18 = 108 quantities

cost of ordering = 45 dollars

cost of holding annually = 15 dollars

a. current average inventory

= (18*6)/2

= 54 pictures

b. current annual holding cost

(108/2)*15

= 810 dollars

c. current annual holding cost

= 936/108 * 45

= 390 dollars

d. size orders to be placed

= [tex]\sqrt{\frac{2*936*45}{15} }[/tex]

= [tex]\sqrt{5616}[/tex]

= 74.9

≈ 75 pictures have to be ordered

e. ordering holding cost per picture

936/75 * 45

= 561.6 dollars

and inventory holding cost per picture

= 75/2 * 15

=562.5 dollars

f. shop inventory per year at optimal ordering quantity

= 75/2

= 37.5

≈ 38 pictures

Answer:

A. $104.80

B. $104.85

Explanation:

A. Based on the information given If a market buy order for 150 shares comes in, the PRICE at which it will be filled is $104.80

Best price = $104.80

B. Based on the information given At what PRICE would the next market buy order be filled is $104.85

Next best price = 104.85

Answer: See explanation

Explanation:

Protectionism refers to the restriction of international trade by the government in order to help the domestic industries. The argument in favor of protectionism include:

• Protection of infant industries: Protectionism protects infant industries as they're protected from being subjected to unfair competition and therefore allowed to thrive.

• To prevent dumping and unfair competition

• Revenue generation for government: Through the imposition of tariffs and other policies by the government to protect domestic industries, the government also generates revenue which can be used to improve the economy.

I believe the arguments are valid and I support them.

Answer:

Delayed Payment means a purchase by a buyer in which title to the grain passes to the buyer at a determined price and payment to the seller is not made in less than twenty-one (21) days after delivery.

Answer:

Trade credit is a business-to-business (B2B) agreement in which a customer can purchase goods without paying cash up front, and paying the supplier at a later scheduled date. Usually, businesses that operate with trade credits will give buyers 30, 60, or 90 days to pay, with the transaction recorded through an invoice.

Trade credit can be thought of as a type of 0% financing, increasing a company’s assets while deferring payment for a specified value of goods or services to some time in the future and requiring no interest to be paid in relation to the repayment period.

KEY TAKEAWAYS

Trade credit is a type of commercial financing in which a customer is allowed to purchase goods or services and pay the supplier at a later scheduled date.

Trade credit can be a good way for businesses to free up cash flow and finance short-term growth.

Trade credit can create complexity for financial accounting depending on the accounting method used.

Trade credit financing is usually encouraged globally by regulators and can create opportunities for new financial technology solutions.

Suppliers are usually at a disadvantage with a trade credit as they have sold goods but not received payment.

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1:31

Trade Credit

Understanding Trade Credit

Trade credit is an advantage for a buyer. In some cases, certain buyers may be able to negotiate longer trade credit repayment terms, which provides an even greater advantage. Often, sellers will have specific criteria for qualifying for trade credit.

A B2B trade credit can help a business to obtain, manufacture, and sell goods before ever having to pay for them. This allows businesses to receive a revenue stream that can retroactively cover costs of goods sold. Walmart is one of the biggest utilizers of trade credit, seeking to pay retroactively for inventory sold in their stores. International business deals also involve trade credit terms. In general, if trade credit is offered to a buyer it typically always provides an advantage for a company’s cash flow.

The number of days for which a credit is given is determined by the company allowing the credit and is agreed upon by both the company allowing the credit and the company receiving it. Trade credit can also be an essential way for businesses to finance short-term growth. Because trade credit is a form of credit with no interest, it can often be used to encourage sales.

Since trade credit puts suppliers at somewhat of a disadvantage, many suppliers use discounts when trade credits are involved to encourage early payments. A supplier may give a discount if a customer pays within a certain number of days before the due date. For example, a 2% discount if payment is received within 10 days of issuing a 30-day credit. This discount would be referred to as 2%/10 net 30 or simply just 2/10 net 30.

Trade Credit Accounting

Trade credits are accounted for by both sellers and buyers. Accounting with trade credits can differ based on whether a company uses cash accounting or accrual accounting. Accrual accounting is required for all public companies. With accrual accounting, a company must recognize revenues and expenses at the time they are transacted.

Trade credit invoicing can make accrual accounting more complex. If a public company offers trade credits it must book the revenue and expenses associated with the sale at the time of the transaction. When trade credit invoicing is involved, companies do not immediately receive cash assets to cover expenses. Therefore, companies must account for the assets as accounts receivable on their balance sheet.

With trade credit, there is the possibility of default. Companies offering trade credits also usually offer discounts, which means they can receive less than the accounts receivable balance. Both defaults and discounts can require the need for accounts receivable write-offs from defaults or write-downs from discounts. These are considered liabilities a company must expense.

Alternatively, trade credit is a useful option for businesses on the buying side. A company can obtain assets but would not need to credit cash or recognize any expenses immediately. In this way, trade credit can act like a 0% loan on the balance sheet.

Answer:

d. $600

Explanation:

The real estate owners are allowed personal exemption of up to $600. Prakash Estate is also entitled to for personal exemption in current tax year. The estate has not made any income distribution in the current year and all the partners have equal income setup in the estate.

Answer:

Classical probability

Explanation:

Classical probability is calculated only when all possible outcomes in the sample space are down and equally likely to occur. It is the probability of known events or events whose resulting probabilities are definitive

For example, students are either left-handed, right-handed or ambidextrous

Subjective probability is a guess on the likelihood an event would occur.

Experimental probability is the probability derived by repeatedly carrying out an experiment and recording the outcomes

Answer:

Eddie Zambrano Corporation

a. Retained Earnings Statement for the year ended December 31, 2020

Retained earnings, January 1, 2020 = $225,000

2020 Income after tax =                        $192,000

Prior period adjustment: understatement of 2018 depreciation expense (before taxes)                                        ($ 25,000)

Cumulative decrease in income from change in inventory methods (before taxes)                                        ($ 35,000)

Dividends declared (of this amount, $25,000 will be paid on Jan. 15, 2021)

                                                             ($100,000)

Total deductions =                                $160,000

Retained earnings, December 31       $257,000

b. With the restricted retained earnings in the amount of $70,000, dividends declared cannot exceed $62,000 ($100,000 - $38,000), therefore the Retained earnings in its December 31, 2020 balance sheet would be $295,000.

Explanation:

a) Data and Calculations:

        Net Income   Dividends Declared  Cumulative Retained Earnings

2017    $ 40,000         $ –0–                       $40,000 ($40,000)

2018     125,000            50,000                    115,000 ($40,000 + 75,000)

2019     160,000           50,000                   225,000 ($115,000 + 110,000)

2020 Income before tax = $240,000

Tax for 2020 (20%)                 48,000

2020 Income after tax =     $192,000

Prior period adjustment: understatement of 2018 depreciation expense (before taxes) $ 25,000

Cumulative decrease in income from change in inventory methods (before taxes) $ 35,000

Dividends declared (of this amount, $25,000 will be paid on Jan. 15, 2021) $100,000

Total deductions = $160,000 ($25,000+35,000+100,000)

Retained earnings for 2020 = $32,000 ($192,000 - $160,000)

a. Retained Earnings Statement for the year ended December 31, 2020

Retained earnings, January 1, 2020 = $225,000

2020 Income after tax =                        $192,000

Prior period adjustment: understatement of 2018 depreciation expense (before taxes)                                        ($ 25,000)

Cumulative decrease in income from change in inventory methods (before taxes)                                        ($ 35,000)

Dividends declared (of this amount, $25,000 will be paid on Jan. 15, 2021)

                                                             ($100,000)

Total deductions =                                $160,000

Retained earnings, December 31       $257,000

b. With the restricted retained earnings in the amount of $70,000, dividends declared cannot exceed $62,000 ($100,000 - $38,000), therefore the Retained earnings in its December 31, 2020 balance sheet would be $295,000 ($257,000 + $38,000).

Answer: $75000

Explanation:

In order to solve the question, firstly we need to calculate the contribution margin ratio which will be:

= ($10 - $6) / $10

= 40%

Then, the break even sales will then be:

= Fixed cost / Contribution margin ratio

= $30000 / 40%

= $75000

Therefore, the break-even point in sales dollars is $75000