Answer:
Explanation:
1-a See the attached photo for the a scattergraph.
1-b. Yes, the scattergraph show a near relationship between machine hours and power cost.
2. The power cost formula using the high and low points is as follows:
Total power cost = -7000 + (1.65 * Machine hours)
3-a. The power cost formula using the method of least squares is as follows:
Total power cost = 6454 + (1.21 * Machine hours)
3-b. R² = Coefficient of determination = 0.8969, or 89.69%
Explanation
1-a. Prepare a scattergraph by plotting power costs against machine hours.
Note: See the attached photo for the a scattergraph by plotting power costs against machine hours.
1-b. Does the scattergraph show a near relationship between machine hours and power cost?
Note that Scattergraph is interpreted by looking by looking for trends in the data as there is movement from left to right.
From the attached a scattergraph, it can be observed that there is an uphill pattern as there is a movement from left to right. This indicates that there a near positive relationship between power costs against machine hours.
Therefore, the scattergraph show a near relationship between machine hours and power cost.
2. Using the high and low points (i.e., the high-low method), compute a power cost formula.
2-a. Calculation of variable cost elements
Variable cost per machine hour = (Highest Power Costs - Lowest Power Costs) / (Highest machine hours – Lowest machine hours) = (42500 - 26000) / (30000 - 20000) = 1.65 per hour
2-b. Calculation of fixed cost elements
Total power cost = Total Fixed Cost + Total Variable Cost ................. (1)
Where;
Total Variable Cost = Variable cost per machine hour * Machine hours ……….. (2)
Substitute equation (2) into equation (1), we have:
Total power cost = Total Fixed Cost + (Variable cost per machine hour * Machine hours) ……………………. (3)
Using highest machine hours and substitute relevant values into equation (3), we have:
42500 = Total Fixed Cost + (1.65 * 3000)
42500 = Total Fixed Cost + 49,500
Total Fixed Cost = 42500 - 49,500
Total Fixed Cost = -7000
2-c Computation of a power cost formula
Substituting Variable cost per machine hour = 1.65 and Total Fixed Cost = -7000 into equation (3), we can compute the power cost formula as follows:
Total power cost = -7000 + (1.65 * Machine hours) ………………. (4)
Equation is the power cost formula.
3. Use the method of least squares to compute a power cost formula. Evaluate the coefficient of determination.
Note: See the attached excel file for the calculations of Total of Machine Hours (x), Power cost (y), xy, x^2, and y^2.
Since Σ = Total of or summation of, we can therefore obtain the following from the attached excel file:
Σx = 190,800
Σy = 282,500
Σxy = 6,878,400,000
Σx² = 4,666,540,000
Σy² = 10,188,250,000
N = Number of quarters = 8
3-a. Use the method of least squares to compute a power cost formula
Step 1: Calculation of variable cost per rental return
To calculate the variable power cost per machine hour, the following formula is used:
Variable power cost per machine hour = (NΣxy − ΣxΣy) /((NΣx²) − (Σx)²) ……………… (5)
= (Σxy – (1/8)ΣxΣy) /((Σx²) – (1/8)(Σx)²)
=(6,878,400,000 – ((1/8) * 190,800 * 282,500)) / (4,666,540,000 – ((1/8) * 190,800²))
Substituting the relevant values into equation (5), we have:
Variable cost per rental return = ((8 * 6,878,400,000) - (190,800 * 282,500)) /((8 * 4,666,540,000) - 190,800²)
Variable power cost per machine hour = 1.21
Step 2: Calculation of quarterly fixed power cost
This can be calculated using the following formula:
Fixed Cost per quarter = {Σy - (Variable power cost per machine hour * Σx) / N ....... (6)
Substituting the relevant values into equation (6), we have:
Fixed Cost per quarter = (282,500 - (1.21 * 190,800)) / 8
Fixed Cost per quarter = 6,454
Step 3: Computation of the power cost formula
Substituting Variable cost per machine hour = 1.21 and Total Fixed Cost = 6,454 into equation (3) in part 2 above, we can compute the power cost formula as follows:
Total power cost = 6454 + (1.21 * Machine hours) ………………. (4)
Equation (4) is the power cost formula.
3-b. Evaluate the coefficient of determination.
This can be evaluated using the following formula:
R² = Coefficient of determination = (NΣxy – ΣxΣy) / ((NΣx² - (Σx)²) * (NΣy² - (Σy)²))^0.5 ……….. (5)
Substituting the relevant values into equation (5) we have:
R² = ((8 * 6,878,400,000) – (190,800 * 282,500)) / (((8 * 4,666,540,000) – 190.800²) * ((8 * 10,188,250,000) – 282,500²))^0.5
R² = 0.8969, or 89.69%
Use the cost information below for Laurels Company to determine the cost of goods manufactured during the current year: Direct materials used$5,000 Direct labor 7,000 Total factory overhead 5,100 Beginning work in process 3,000 Ending work in process 4,000 Multiple Choice $12,000. $16,100. $17,100. $18,100. $13,600.
Answer:
$16,100
Explanation:
Add the total manufacturing costs for the year to determine the cost of goods manufactured during the current year. Also remember to account for change in work in process inventory.
What method can help to avoid typos when writing a function that includes a range?
Answer:
clicking and dragging to select the range
Testbank Multiple Choice Question 81 At the beginning of 2020, Sunland Company issued 8% bonds with a face value of $5700000. These bonds mature in the five years, and interest is paid semiannually on June 30 and December 31. The bonds were sold for $5259870 to yield 10%. Sunland uses a calendar-year reporting period. Using the effective-interest method of amortization, what amount of interest expense should be reported for 2020
Answer:
$527,737
Explanation:
The Bond Payment or Coupon always includes the Interest Portion and the the Capital Potion. The question only requires the Interest Portion of the Bond.
The Bond Parameters can be set as :
PV = - $5,259,870
FV = $5,700,000
PMT = ($5,700,000 x 8%) ÷ 2 = $228,000
N = 5 x 2 = 10
YTM = 10 %
P/YR = 2
Constructing an amortization schedule for 2020 gives :
Date Capital Portion Interest Balance
June 30 $34,994 $262,994 $5,294,864
Dec 30 $36,743 $264,743 $5,331,607
Total $71,737 $527,737 $5,331,607
therefore,
The amount of interest expense to be reported for 2020 is $527,737
Culver Corporation owns equipment that cost $81,600 and has a useful life of 8 years with no salvage value. On January 1, 2020, Culver leases the equipment to Havaci Inc. for one year with one rental payment of $15,300 on January 1. Assuming Havaci (lessee) elects to use the short-term lease exception, prepare Havaci's 2020 journal entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer: Check attachment
Explanation:
Check the attachment for the journal entry. Also, note that the Depreciation expense was calculated in the journal entry as:
= Cost of asset - Salvage value / Useful life of asset
= (81600 - 0) / 8
= $10200
eamish Incorporated, which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 10,700 Variable costs per unit: Direct materials $ 108 Direct labor $ 51 Variable manufacturing overhead $ 7 Variable selling and administrative expense $ 9 Fixed costs: Fixed manufacturing overhead $417,300 Fixed selling and administrative expense $834,600 There were no beginning or ending inventories. The absorption costing unit product cost was:
Answer:
$205 per unit
Explanation:
Calculation to determine what The absorption costing unit product cost was:
Using this formula
Absorption costing unit product cost = Direct material + Direct labour + Variable manufacturing overheads + (Fixed manufacturing overheads / Number of units produced)
Let plug in the formula
Absorption costing unit product cost= $108 + $51 + $7 + ($417,300 / 10,700)
Absorption costing unit product cost=$108 + $51 + $7 + $39
Absorption costing unit product cost= $205 per unit
Therefore The absorption costing unit product cost was:$205 per unit
Feng needs to export Access data that contains a table of contacts. This table will be used to create personalized
mailings. Which type of export should he choose?
O Access
O Word Merge
O Excel
O XML file
Answer:
if i answer this pls answer mine the answer is b
Explanation:
The table and scatterplot shows the additional plant growth measured each day for particular days.
Which two points should the trend line go through to best represent the data given in this scatterplot?
2, 1) and (3, 1.5)
(2, 1) and (5, 2)
(6, 2) and (8, 2)
(6, 2) and (10.1.75)
do you know the answer to this
Assume the following for the town of Boone: The town has a total population of 60,000 people, of which 2,000 are under 16 years of age or are institutionalized; 4,000 are full-time students who are not employed and are not seeking work; and 50,000 are employed. The rest of the people are out of work but have been actively seeking work within the past four weeks. What is Boone's unemployment rate?
Answer:
Unemployment rate= 7.4%
Explanation:
First, we need to calculate the labor force. The labor force is the sum of employed people and unemployed people over 16 actively looking for work.
Labor force= 60,000 - 2,000 - 4,000= 54,000
Now, we can calculate the unemployment rate, using the following formula:
unemployment rate= (unemployed people / labor force)*100
unemployment rate= (4,000/54,000)*100
unemployment rate= 7.4%
The Lincoln wheat penny was designed by Victor D. Brenner in 1909. Currently, the most valued penny is the 1909 S VDB penny. It was minted in San Francisco and only 484,000 were minted with the initials on the back. In 2015, the S VDB penny in uncirculated condition is worth $3,200. When will it be worth $15,000
Answer:
The answer is "1960.58"
Explanation:
Through the partnership, the importance of the penis is increased
[tex]w = 0.01 a^x[/tex]
In which an element is gradual and x the year is no.
For [tex]2015 x = 2015 - 1909 = 106[/tex], and at that time [tex]w = 3200[/tex]
thus
[tex]3200 = 0.01 a^{106}\\\\320000 = a^{106}\\\\\ln(320000) = 106 \ln(a)\\\\12.67 = 106 \ln(a)[/tex]
[tex]\ln (a) = 0.1196\\\\\to a = e^{0.1196} = 1.127[/tex]
[tex]15,000 = 0.01\times 1.127^x\\\\15,00,000 = 1.127^x[/tex]
[tex]\ln(15,00,000) = x \ln(1.127)\\\\[/tex]
[tex]6.17 = x\times 0.1196\\\\\to x = 51.58\\\\\to Year = 1909 + 51.58 = 1960.58[/tex]
https://portal.worksafeacademy.co.za/quiz/different-backup-devices-quiz/?attempt_key=fHdF6#
Answer:
i need your login info
Explanation:
if u want me to do it lol :)
Ornaments, Inc.,is an all-equity firm with a total market value of $520,000 and 18,500 shares of stock outstanding. Management believes the earnings before interest and taxes (EBIT) will be $73,000 if the economy is normal. If there is a recession, EBIT will be 10 percent lower, and if there is a boom, EBIT will be 20 percent higher. The tax rate is 40 percent. What is the EPS in a recession?
Answer:
2.1308
Explanation:
EPS recession = (EBIT normal * (1 - Reduction in recession) * (1 - Tax rate)/shares
EPS recession = ($73,000 * (1 - 0.1)) * (1 - 0.40)/18,500
EPS recession = $65,700 * 0.6 / 18,500
EPS recession = 2.130810810810811
EPS recession = 2.1308
A note payable was executed by Sterling Inc. to Miami Finance Company. Sterling Inc. used $768,000 of its accounts receivable as collateral for the loan. The contract provided that Miami would advance 85% of the gross amount of the receivables. Sterling Inc. continues to collect payments for the receivables and the cash from customers is then remitted to the finance company. The cash remitted is first applied to the finance charges, with the remainder applied to principal.
During the first month, customers owing $524,800 paid cash, less sales returns and allowances of $20,480, originally recorded as a refund liability. The finance charge at the end of the first month was $4,480. During the second month, the remaining receivables were collected in full, except for $5,120 off as uncollectible. Final settlement was effected with the finance company, including payment of an additional finance charge of $1,920.
Required:
a. Record the entry for Sterling to record the secured borrowing.
b. Record the entries for Sterling to record (1) the collections and (2) the payment to Miami for the first month.
c. Record the entries for Sterling to record (1) the collections for the second month and (2) the final payment to Miami.
Answer:
See all the entries below.
Explanation:
a. Record the entry for Sterling to record the secured borrowing.
The entries will look as follows:
Account Name Debit ($) Credit ($)
Cash (768,000 * 85%) 652,800
Note Payable 652,800
(To record the secured borrowing.)
b. Record the entries for Sterling to record (1) the collections and (2) the payment to Miami for the first month.
The entries will look as follows:
Account Name Debit ($) Credit ($)
Cash 504,320
Refund Liability 20,480
Accounts Receivable 524,800
(To record collection on receivables for first month.)
Interest Expense 4,480
Note Payable 499,840
Cash 504,320
(To record payment to Miami for the first month.)
c. Record the entries for Sterling to record (1) the collections for the second month and (2) the final payment to Miami.
The entries will look as follows:
Account Name Debit ($) Credit ($)
Cash 238,080
Allowance for Doubtful Debt 5,120
Accounts Receivable (w.1) 243,200
(To record collection on receivables for second month Interest.)
Expense 1,920
Note Payable 151,040
Cash (w.2) 152,960
(To record final payment to Miami.)
Workings:
w.1: Accounts Receivable = Amount of accounts receivable as collateral – Cash received from customer = $768,000 - $524,800 = $243,200
w.2: Cash = Loan - First payment for principal = $652,800 - $499,840 = $152,960
Wilde Software Development has a 12% unlevered cost of equity. Wilde forecasts the following interest expenses, which are expected to grow at a constant 3% rate after Year 3. Wilde's tax rate is 25%. Year 1 Year 2 Year 3 Interest expenses $80 $95 $140 What is the horizon value of the interest tax shield
Answer: $400.56
Explanation:
Horizon value = Tax shield in 3rd year * (1 + growth rate) / (Required return - Growth rate)
Tax shield in year 3 = Interest expense * tax rate
= 140 * 25%
= $35
Horizon value = 35 * ( 1 + 3%) / (12% - 3%)
= $400.56
A company has two open seats, Seat A and Seat B, on its board of directors. There are 6 candidates vying for these 2 positions. There will be a single election to determine the winner of both open seats. As the owner of 100 shares of stock, you will receive one vote per share for each open seat. You decide to cast all 200 of your votes for a single candidate. What is this type of voting called?
a. democratic
b. cumulative
c. straight
d. deferred
e. proxy
Answer:
b. cumulative
Explanation:
Cumulative voting is a type of voting in which more than one vote is placed to the desired candidate. The voters possess the right to extend more than one vote. All the votes in the hand of the voter can be entitled to any particular candidate as decided by the voter.
In the given situation, cumulative voting system has been used. The voter gives all the 200 votes to the single candidate.
Suppose the production of long-distance airline flights is described by a fixed proportion production process in which three crew members (i.e., labor) are required for each aircraft (i.e., capital). If the airline operates with four crew members per plane, then we know that: A. the production process violates diminishing margin returns. B. production at this point is technically inefficient. C. the isoquants for this production process are upward sloping. D. the airline will have negative profits.
Answer:
production at this point is technically inefficient.
Explanation:
The Factors of Production are simply the inputs in the production process such as labor, capital, materials.
The production function shows the various materials or recipes for producing a given level of output. It shows the output that can be produced if the firm is technically efficient.
Production at point of technically inefficient are said to be points in the production set but not on the production function.
Fixed Proportion Production Function is simply a Production function with L-shaped isoquants that is only one combination of labor and capital can be used to produce each level of output. It describes situations in which methods of production are limited.
Vaughn Manufacturing manufactures a product with a unit variable cost of $100 and a unit sales price of $186. Fixed manufacturing costs were $480000 when 10000 units were produced and sold. The company has a one-time opportunity to sell an additional 1000 units at $130 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:______.
A. Income would increase by $40,000.
B. Income would increase by $8,000.
C. Income would decrease by $8,000
D. Income would increase by $140,000
Answer:
The correct option is A. Income would increase by $40,000.
Explanation:
Note: There are some errors in the data provided in this question. The errors are threfore fixed by providing the complete question again before answering the question as follows:
Vaughn Manufacturing manufactures a product with a unit variable cost of $100 and a unit sales price of $176. Fixed manufacturing costs were $480000 when 10000 units were produced and sold. The company has a one-time opportunity to sell an additional 1000 units at $140 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:______.
A. Income would increase by $40,000.
B. Income would increase by $8,000.
C. Income would decrease by $8,000
D. Income would increase by $140,000
The explanation of the answer is now given as follows:
Additional units to be sold = 1000
Selling price per unit of additional units to be sold = $140
Unit variable cost = $100
Expected change in income if the special order is accepted = (Selling price per unit of additional units to be sold - Unit variable cost) * Additional units to be sold = ($140 - $100) * 1000 = $40,000
Therefore, the correct option is A. Income would increase by $40,000.
Faux Trees Company produces artificial Christmas trees. A local shopping mall recently made a special order offer; the shopping mall would like to purchase 230 extra-large white trees. Faux Trees Company is currently producing and selling 20,000 trees; the company has the excess capacity to handle this special order. The shopping mall has offered to pay $160 for each tree. An accountant at Faux Trees Company provides an estimate of the unit product cost as follows:
Direct materials $51.61
Direct labor​ (variable) $3.80
Variable manufacturing overhead $1.00
Fixed manufacturing overhead ​$4.00
Total unit cost $60.41
This special order would require an investment of $5,000 for the molds required for the extra−large trees. These molds would have no other purpose and would have no salvage value. The special order trees would also have an additional variable cost of $8.26 per unit associated with having a white tree. This special order would not have any effect on the​ company's other sales. If the special order is​ accepted, the​ company's operating income would increase​ (decrease) by:_______
a. $15679 decrease.
b. $15,679 increase.
c. $16,708 decrease.
d. $10,679 increase.
Answer: $16,925.90 increase
Explanation:
Company already has the excess capacity to handle this order so the fixed costs will not be included as they would have already been incurred.
Cost of manufacturing the trees would be:
= Variable cost + Fixed cost
= ((51.61 + 3.80 + 1.00 + 8.26 for white tree) * 230 trees) + 5,000 for molds
= (64.67 * 230) + 5,000
= $19,874.10
Incremental revenue = 230 trees * 160
= $36,800
Incremental operating income = 36,800 - 19,874.1
= $16,925.90 increase
Note: Options might be for a variant of this question.
define futures contract.
Amram Inc. can issue a 20-year bond with a 6% annual coupon at par. This bond is not convertible, not callable, and has no sinking fund. Alternatively, Amram could issue a 20-year bond that is convertible into common equity, may be called, and has a sinking fund. What most accurately describes the coupon rate that Amram would have to pay on the second bond, the convertible, callable bond with the sinking fund, to have it sell initially at par?
Answer:
b. It could be less than, equal to, or greater than 6%.
Explanation:
THIS ARE THE OPTIONS FOR THE QUESTION BELOW!
a. Exactly equal to 6%.
b. It could be less than, equal to, or greater than 6%.
c. Greater than 6%.
d. Exactly equal to 8%.
e. Less than 6%.
Convertible bonds can be regarded as one which can be converted to equity shares at a particular time, so in this case, Base on specific terms set the coupon rate can be equal, greater even less than 6%, talking of real world, the feature of the convertible could make the coupon rate to be probably less than 6%.
Convertible bonds are considered as the bonds that can be converted into stock within a certain time frame. The particular bondholders have right convert their bonds into equity by selling their bonds according to corporation's designated timeframe.
The coupon rate could be less than, equal to, or greater than 6%, depending on the specific terms set.
Amram Inc. is issuing two bonds, one of which is non-convertible and the other of which is convertible but not callable. Convertible and callable bonds will nearly always have a lower coupon rate than non-convertible or non-callable bonds, regardless of the coupon rate they intend to set.
To know more about coupon rate, refer to the link:
https://brainly.com/question/6959763
Use Annual Cost Analysis to determine whether Alternative A or B should be chosen. The analysis period is 5 years. Assume an interest rate of 6% per year, compounded annually Alternative A Alternative B Initial Cost 2800 6580 Annual Benefit 450 940 Salvage Value 500 1375 Useful Life (yrs) 5 5 Group of answer choices Alternative A should be chosen, because its initial cost is lower than Alternative B's Alternative A should be chosen, because its equivalent annual cost is $252.15 lower than Alternative B's Alternative B should be chosen, because its annual benefit is higher than Alternative A's Alternative B should be chosen, because its equivalent annual cost is $252.15 higher than Alternative A's
Answer:
A should be chosen, because its equivalent annual cost is $252.15 lower than Alternative B's.
Explanation:
a) Data and Calculations:
Interest rate = 6% per year
Alternative A Alternative B
Initial Cost 2800 6580
Annual Benefit 450 940
Salvage Value 500 1375
Useful Life (yrs) 5 5
Annuity factor = 4.212 for 5 years at 6%.
Present value factor = 0.747 for 5 years at 6%.
Alternative A Alternative B
Present value of
annual benefits $1,895.40 $3,959.28
PV of salvage value 373.50 1,027.12
Total present value
of benefits $2,268.90 $4,986.40
Initial Cost 2,800 6,580
Net present value $531.10 $1,593.60
The equivalent annual cost
= NPV/PV annuity factor
($531.10/4.212) ($1,593.60/4.212)
Equivalent annual cost $126.09 $378.35
Difference:
Alternative B = $378.35
Alternative A = $126.09
Difference = $252.26
One reason critics think advertising is wasteful is that: a. advertising is silent about things like product quality. b. businesses use deceptive methods of advertising which is harmful for consumers. c. large sums of money are spent on advertising that produces no consumer benefit. d. most ads are distasteful and send the wrong messages to consumers.
Answer:
c. large sums of money are spent on advertising that produces no consumer benefit
Explanation:
Critics consider advertising to be a waste because they believe that there is a large amount of financial resources being spent on advertising that will not be converted into benefits for the consumer, that is, they believe that it is a lot of money spent on communication marketing that it should be spent on product development, for example, in the form of converting investments into physical benefits that add greater value to the product and greater satisfaction for the consumer.
But a company that wants to become competitive and well positioned in the market, must allocate financial resources so that both things can be carried out, because advertising is extremely necessary to attract and retain potential consumers, since there is currently a great offer of them products available on the market and the company needs to develop a strategy that attracts consumers to its product, which can occur through well-developed advertising that generates consumer engagement and identification with the offered product.
A guidance counselor at a high school is working on a project to get more girls interested in the Science, Technology, Engineering, and Mathematics career cluster, which students would be best prepared to enter this career cluster?
A)Those who are strong in art and creative writing.
B)Those who are strong in algebra and computer design.
C) Those who are strong in leadership and communication,
D) Those who are strong in foreign language and history
Answer:
its either b or c, im more confident about b though
Explanation
Answer:
b
Explanation:
Barnes Company reports the following operating results for the month of August: sales $300,000 (units 5,000); variable costs $217,000; and fixed costs $70,000. Management is considering the following independent courses of action to increase net income.
Compute the net income to be earned under each alternative.
1. Increase selling price by 10% with no change in total variable costs or sales volume.
2. Reduce variable costs to 55% of sales.
3. Reduce fixed costs by $18,000.
Which course of action will produce the highest net income?
Answer:
1. $43000
2.$65000
3. $31000
Alternative 2
Explanation:
Computation for the net income to be earned by Increasing the selling price by 10% with no change in total variable costs or sales volume.
1. Calculation of net income :-
First step is to calculate the Current selling price
Current selling price = $300000/ 5000 units
Current selling price= $ 60 per unit
Second step is to calculate the New selling price
New selling price = $ 60 *110%
New selling price= $ 66 per unit
Now let calculate the net income
Sales (5000 units * $66 per unit) $330000
Less Variable costs ($217000)
Contribution Margin $113000
($330000-$217000)
Less Fixed costs ($70000)
Net income $43000
($113000-$70000)
2. Computation for the net income to be earned by Reducing variable costs to 55% of sales.
Sales (5000 units * $60 per unit) $300000
Less Variable costs (55% * $300000) $165000
Contribution Margin $135000
($300000-$165000)
Less Fixed costs($70000)
Net income $65000
($135,000-7000)
3.Computation for the net income to be earned if their is Reduce fixed costs by $18000.
Dr Sales (5000 units * $60 per unit) $300000
Less Variable costs ($217000)
Contribution Margin $83000
($300000-$217000)
Less Fixed costs $52,000
($70000 - $18000)
Net income $31000
($83,000-$52,000)
Based on the information given the course of action that will produce the highest net income is alternative 2 with the amount of $65,000
Deborah's Performance Pizza is a small restaurant in San Francisco that sells gluten-free pizzas. Deborah's very tiny kitchen has barely enough room for the two ovens in which her workers bake the pizzas. Deborah signed a lease obligating her to pay the rent for the two ovens for the next year. Because of this, and because Deborah's kitchen cannot fit more than two ovens, Deborah cannot change the number of ovens she uses in her production of pizzas in the short run.
However, Deborah's decision regarding how many workers to use can vary from week to week because her workers tend to be students. Each Monday, Deborah lets them know how many workers she needs for each day of the week. In the short run, these workers are__________ inputs, and the ovens are__________ inputs.
Answer:
✓VARIABLE Correct inputs
✓FIXED Correct inputs.
Explanation:
Variable inputs can be regarded as resources, it can also be called factor of production that can undergo change in the short run by a company as a result of the company changing quantity of output produced. These variable inputs in short-run could be labor as well as material inputs.
Fixed inputs can be regarded as resources it can also be called factor of production that cannot undergo change in the short run by a company as a result of the company changing quantity of output produced. These fixed inputs in short-run could be building as well as lands
a company acquired a truck for 130,000 residual value was estimated to be $20,000 the truck can be driven for 50,000 miles or a useful life of four years. Actual usage of the truck was recorded as 10,000 miles for the first year. What is the amount of depreciation expesne for the first year calculated by the double
Answer:
$65,000
Explanation:
Depreciation Expense = 2 x SLDP x BVSLDP
where,
SLDP = 100 ÷ 4 = 25 %
BVSLDP = $130,000 (FIRST YEAR)
therefore,
Depreciation Expense = 2 x 25 % x $130,000 = $65,000
The following inventory information was taken from the records of Kleinfeld Inc. on December 31, 2020 Historical cost $12,000 Replacement cost $7,000 Expected selling Price $9,000 Expected selling cost $500 Normal profit margin 50% of price Assume that in February 2021, the expected selling price increases to $13,000 (all the rest of the facts are the same). What adjustment to inventory should be made under US GAAP in the preparation of the March 31, 2021 financial statements
Answer:
Inventory should be increased by $3,500
Explanation:
Calculation to determine What adjustment to inventory should be made under US GAAP in the preparation of the March 31, 2021 financial statements
Adjustment to inventory =(13,000 - 9,000 )-500
Adjustment to inventory= 4,000 - 500 Adjustment to inventory=$3,500
(Last Word) Fixed costs for a firm are analogous to: Group of answer choices starting out in a hole that represents economic losses if the firm produces nothing. digging a deeper financial hole by producing when prices are too low. the cost of the shovel needed to fill the financial hole. the dirt that fills up the financial hole.
Answer:
starting out in a hole that represents economic losses if the firm produces nothing.
Explanation:
Cost-volume-profit analysis is also known as the break even analysis, it is an important tool in predicting the volume of activity, the costs to be incurred, the sales to be made, and the profit to be earned is. It is used to determine how changes in differing levels of activities such as costs and volume affect a company's operating income and net income.
Fixed costs can be defined as predetermined expenses in a business that remain constant for a specific period of time regardless of the quantity of production or level of outputs. Thus, they are the costs which are not directly related to the level of production or not affected by the quantity of output in an organization. Some examples of fixed costs in business are loan payments, employee salary, depreciation, marketing costs, rent, insurance, lease, utilities, administrative cost, research and development costs, etc.
Furthermore, fixed costs may be relevant in a decision because it affects the amount of future cash-flow of a business entity.
Hence, the fixed costs for a firm are analogous to starting out in a hole that represents economic losses if the firm produces nothing. This simply means that, the firm is only using it money to fund the all of the necessary items or utilities required for the operation of its business but do not produce any goods or services. Simply stated, the firm is not generating any revenue as its produces nothing.
Biggest disadvantage of using technology in college courses?
Answer:
The presence of technology can be distracting to students. ...
Technology can make it easier to cheat. ...
Using tech can cause some students to disconnect from the classroom. ...
Some students may not know the difference between reliable and unreliable resources.
Answer: The presence of technology can be distracting to students. ...
OR Technology can make it easier to cheat. ...
Explanation:
you are required to write a report and in this report you are to consider the importance of understanding the business environment
Answer:
The understanding of its business environment helps an organization to make realistic plans and ensure their effective implementation. It also helps thebusiness enterprise in identification of opportunities and threats.
Explanation:
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Lillich, Inc., manufactures and sells two products: Product U6 and Product R5. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours Product U6 690 8.9 6,141 Product R5 1,060 5.9 6,254 Total direct labor-hours 12,395 The direct labor rate is $28.00 per DLH. The direct materials cost per unit for each product is given below:
Direct Materials
Cost per Unit
Product U6 $250.40
Product R5 $167.80
The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
Estimated Expected Activity
Activity Cost Pools Activity Measures Overhead Cost Product U6 Product R5 Total
Labor-related DLHs $ 201,638 7,125 7,280 14,405
Production orders orders 72,840 1,350 1,250 2,600
Order size MHs 1,020,608 6,500 6,800 13,300
$ 1,295,086
Which of the following statements concerning the unit product cost of Product U6 is true? (Round your intermediate calculations to 2 decimal places.)
a. The unit product cost of Product U6 under traditional costing is greater than its unit product cost under activity-based costing by $340.31.
b. The unit product cost of Product U6 under traditional costing is less than its unit product cost under activity-based costing by $5.63.
c. The unit product cost of Product U6 under traditional costing is greater than its unit product cost under activity-based costing by $5.63.
d. The unit product cost of Product U6 under traditional costing is less than its unit product cost under activity-based costing by $340.31.
Answer:
Lillich, Inc.
c. The unit product cost of Product U6 under traditional costing is greater than its unit product cost under activity-based costing by $5.63.
Explanation:
a) Data and Calculations:
Direct labor rate = $28.00 per DLH
Product U6 Product R5 Total
Expected production 690 1,060
Direct materials cost/unit $250.40 $167.80
Direct Labor Hours/unit 8.9 5.9
Total direct labor hours 6,141 6,254 12,395
Direct labor costs $171,948 ($28*6,141) $175,112 ($28*6,254)
Total direct materials cost $172,776 ($250.4*690) $177,868 ($167.8*1,060)
Total overhead $636,360 $658,752 $1,295,112
Total production cost $981,084 $1,011,732
Expected production 690 1,060
Cost per unit $1,421.86 $954.46
Traditional costing:
Direct labor costs $171,948 ($28*6,141) $175,112 ($28*6,254)
Total direct materials cost $172,776 ($250.4*690) $177,868 ($167.8*1,060)
Total overhead $641,612 $653,418 $1,295,112
Total production cost $986,336 $1,006,398
Expected production 690 1,060
Cost per unit $1,429.47 $949.43
Allocation of overhead based on direct labor hours
= $ 1,295,086/12,395
= $104.48 per DLH
Product U6 = $641,612 ($104.48 * 6,141)
Product R5 = $653,418 ($104.48 * 6,254)
Estimated Expected Activity
Activity Cost Pools Activity Overhead Product Product Total
Measures Costs U6 R5
Labor-related DLHs $ 201,638 7,125 7,280 14,405
Production orders Orders 72,840 1,350 1,250 2,600
Order size MHs 1,020,608 6,500 6,800 13,300
Total $ 1,295,086
Overhead rates:
Labor-related = $201,638/14,405 = $14.00 per DLH
Production orders = $72,840/2,600 = $28.00 per order
Order size = $1,020,608/13,300 = $76.74 per machine hour
Overhead allocation:
Product U6 Product R5 Total
Labor-related $99,750 (7,125*$14) $101,920 (7,280*$14) $201,670
Production orders 37,800 (1,350*$28) 35,000 (1,250*$28) 72,800
Order size 498,810 (6,500*$76.74) 521,832 (6,800*$76.74) 1,020,642
Total overhead $636,360 $658,752 $1,295,112
An asset was purchased for $100,000 on January 1, Year 1 and originally estimated to have a useful life of 12 years with a residual value of $10,000. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,800. Calculate the third-year depreciation expense using the revised amounts and straight-line method. a.$20,550.00 b.$21,550.00 c.$21,050.00 d.$19,550.00
Answer:
A
Explanation:
The following steps would be taken to determine the answer
Calculate depreciation expense given the initial information calculate the accumulated depreciation by the third year. Accumulated depreciation is sum of depreciation expensesubtract the accumulated depreciation from the cost price of the asset. This would give the book value calculate the depreciation expense using the new information and the book valueStraight line depreciation expense = (Cost of asset - Salvage value) / useful life
($100,000 - $10,000) / 12 = $7500
Depreciation expense each year is $7500
Accumulated depreciation = $7500 x 2 = $15,000
Book value at the beginning of year 3 = $100,000 - $15,000 = $85,000
($85,000 - $2800) / 4 = $20,550