Crane Company makes and sells umbrellas. The company is in the process of preparing its Selling and Administrative Expense Budget for the last half of the year. The following budget data are available: Variable Cost Per Unit Sold Monthly Fixed Cost Sales commissions$0.60 $ 6500 Shipping1.20 Advertising0.30 Executive salaries 44000 Depreciation on office equipment 8500 Other0.35 32000 Expenses are paid in the month incurred. If the company has budgeted to sell 9000 umbrellas in October, how much is the total budgeted variable selling and administrative expenses for October
Answers
Answer:
$22,050
Explanation:
The computation of the total budgeted variable selling and administrative expenses for October is shown below:
Sales Commission (9,000 × $0.60) $5,400
Shipping (9,000 × $1.2) $10,800
Advertising (9,000 × 0.3) $2,700
Other (9,000 × .35) $3,150
Budgeted Variable Selling and admin expenses $22,050
We simply added all the variable selling and admin expenses so that the total could arrive
Related Questions
For my macroeconomics class, what’s the difference between CONSUMER SPENDING and CONSUMER BUYING?
Answers
Consumer spending refers to the total amount of money spent by households on goods and services during a specific period of time, usually a quarter or a year. This includes purchases of durable goods (such as cars and appliances), non-durable goods (such as food and clothing), and services (such as healthcare and education).
Consumer buying, on the other hand, refers specifically to the act of purchasing a good or service by a household. It is the point at which a consumer acquires ownership of a good or service in exchange for money or other valuable consideration.
In other words, consumer spending is a broader concept that encompasses all of the purchases made by households, while consumer buying is a more specific concept that refers only to the act of purchasing a good or service.
It is worth noting that consumer spending is a key component of gross domestic product (GDP), which is the total value of all goods and services produced in an economy. In fact, consumer spending is typically the largest component of GDP and is considered a major driver of economic growth.
1.1.11 Advise SM on the negative impact of the socio economic issues identified in QUESTION 1.1.10 (6 )
Answers
A social-economic issue is simply a factor that can be classified as having a social and economic bearing or having an economic impact on members of society.
What are examples of Social Economic Factors?Please note that the information on the question is incomplete hence the general answer.
Examples of social-economic factors are:
EmploymentSafetyIncome levelsEducation etc.One negative social-economic factor based on the above is unemployment. This is the condition wherein more and more people who are willing to work are unable to find gainful employment.
The negative impact of this on the economy is that if people are unwilling to buy household goods and pay for household services, soon those providing those services will be unable to operate their businesses.
This condition is what leads to a recession if not properly checked by the government. One way the government can decrease unemployment is by increasing the money supply.
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On January 1, 2021, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $470,000. Inventory data for 2021 through 2023 are as follows:
Date Ending Inventory at Year-End Costs Cost Index
12/31/2021 $391,400 1.03
12/31/2022 454,250 1.15
12/31/2023 477,400 1.24
Required: Calculate Taylor's ending inventory for 2021, 2022, and 2023.
Answers
Answer:
Taylor Company ending inventories are
2021= $380600
2022= $397850
2023= $386350
Explanation:
Kindly check attached pdf for the computation of the solution
Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $18,800 of services on account, and (2) he purchased $7,500 of supplies on account. There were $1,050 of supplies on hand as of December 31, Year 1.
Required
a. b. & e. Record the two transactions in the accounts. Record two separate entries for the closing entries. Record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. Post the entries in the T-accounts and prepare a post-closing trial balance.
Answers
Answer:
I need help too
Explanation:
23=56
Which education and qualifications are most helpful for Revenue and Taxation careers? Check all that apply.
leadership skills
customer-service skills
adaptability and flexibility
integrity
math skills
foreign language skills
knowledge of finance laws
CORRECT ANSWERS:
Customer service skills
Integrity
Math skills
Knowlage of finance
Answers
Answer:
Customer service skills
Integrity
Math skills
Knowledge of finance
Explanation:
Answer:
1. Customer service skills 2. Integrity 3. Math skills
4. Knowledge of Finance
Explanation:
I got it right on edg
Postage Corporation acquired 75 percent of Stamp Corporation's common stock on December 31, 20X8, for $300,000. The fair value of the noncontrolling interest at that date was determined to be S100,000. Stamp's balance sheet immediately before the combination reflected the following balances:__________. Cash and Receivables $ 40,000Inventory 70,000Land 90,000Buildings and Equipment (net) 250,000Total Assets $ 450,000 Accounts Payable $ 30,000Income Taxes Payable 40,000Bonds Payable 100,000Common Stock 100,000Retained Earnings 180,000Total Liabilities and Stockholders' Equity $ 450,000 A careful review of the fair value of Stamp's assets and liabilities indicated that inventory, land, and buildings and equipment (net) had fair values of $65,000, $100,000, and, $300,000 respectively. Goodwill is assigned proportionately to Postage and the noncontrolling shareholders. 1) Based on the preceding information, what amount of Stamp's inventory will be included in the consolidated balance sheet immediately following the acquisition? A) $0 B) S65,000 C) $70,000 D) $60,000 2) Based on the preceding information, what amount of Stamp's land will be included in the consolidated balance sheet immediately following the acquisition? A) $0 B) $10,000 C) $90,000 D) $100,000 3) Based on the preceding information, what amount of Stamp's buildings and equipment (net) will be included in the consolidated balance sheet immediately following the acquisition? A) $0 B) $50,000
Answers
Answer:
LOL i can't read that. pls reformat.
Explanation:
Double declining balance
Answers
The double-declining balance method is an effective way to depreciate assets in the early years of their useful life and reduce the balance of the asset more quickly than the straight-line method. This helps companies to account for the asset's cost more accurately over time and to recognize its diminishing value as it ages.
Double-declining balance method is a method of depreciation that is an accelerated method.
The depreciation rate is twice as much as the straight-line method's depreciation rate.
This method begins with an asset's value at the beginning of its use and then decreases at a constant rate throughout its useful life until it reaches the asset's salvage value.
This depreciation method is most commonly used for assets that depreciate quickly at the beginning of their useful life and then slowly depreciate over time until they are scrapped or sold.
Assets such as computers, vehicles, and machinery are common examples of assets that use this method of depreciation.
Double-declining balance method can be calculated using the following formula:Annual depreciation = (2 / useful life in years) * book value at the beginning of the yearOrDepreciation rate = 2 / useful life in years.
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Roles of the different types of organisations in the context of the business environment
Answers
The roles of the different types of organizations in the context of the business environment include:
Helping the business to have a clear view of its prioritiesEnabling better communication between employees and managers andHelping the employees to know their roles and perform better.What are the different types of orgaizations?The different types of organizations include the matrix, functional, flat, and divisional forms.
All of these types of organizations help to structure the business and helps employees to know who to report to. In the end productivity is enhanced.
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Vince plans to open a self-serve grooming center in a storefront. The grooming equipment will cost $365,000, to be paid immediately. Vince expects aftertax cash inflows of $79,000 annually for 7 years, after which he plans to scrap the equipment and retire to the beaches of Nevis. The first cash inflow occurs at the end of the first year. Assume the required return is 13 percent. What is the project's Pl?
Answers
The answer is "PI is less than 1" so, the project should not be accepted.
The computation of the Pi is shown below:
As we know that,
Profitability index = Present value of cash inflows ÷ Initial investment
The Present value of cash inflows:
PVA = Periodic amount × (1 - (1 + interest rate) - time period ÷ interest rate)
= $67,000 × (1 - (1 + 13%) - 7 ÷ 13%)
= $67,000 × (1 - ( 1+ 0.13) - 7 ÷ 0.13)
= $67,000 × (1 - ( 1.13) -7 ÷ 0.13)
= $67,000 × (1 - 0.42506064374) ÷ 0.13)
= $67,000 × (0.57493935626 ÷ 0.13)
= $67000 × 4.422610432
= $296,314.90
Now the Profitability index is
= $296,314.90 ÷ $325,000
= 0.9117
As, the PI < 1 so the project should not be accepted.
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Beverly Mills has decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accom-modate a variety of driving patterns. All the leases are for 3 years and require no money at the time of signing the lease. The first option has a monthly cost of $330, a total mileage allowance of 36,000 miles (an average of 12,000 miles per year), and a cost of $0.35 per mile for any miles over 36,000. The following table summarizes each of the three lease
options:
(See photos below)
Answers
Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.
Beverly Mills decided to lease a hybrid car to save on gasoline expenses and to do her part to help keep the environment clean. The car she selected is available from only one dealer in the local area, but that dealer has several leasing options to accommodate a variety of driving patterns.All the leases are for 3 years and require no money at the time of signing the lease.
The three lease options available to Beverly Mills are as follows:
Option 1:Monthly cost: $330Total mileage allowance: 36,000 miles (an average of 12,000 miles per year)Cost for any miles over 36,000: $0.35 per mile
Option 2:Monthly cost: $460Total mileage allowance: 45,000 miles (an average of 15,000 miles per year)Cost for any miles over 45,000: $0.45 per mile
Option 3:Monthly cost: $540Total mileage allowance: 60,000 miles (an average of 20,000 miles per year)Cost for any miles over 60,000: $0.55 per mile
Therefore, Beverly Mills has three leasing options to choose from. Each of these options differs in terms of the monthly cost, the total mileage allowance, and the cost for any miles over the set mileage allowance. Depending on her driving patterns, Beverly Mills can select the option that suits her the best.
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At what stage does an advertiser decide how the message and appeal of an ad can be creatively translated into words, pictures, colors, and/or music
Answers
Answer:
Creation stage
Explanation:
Suppose two countries have the same growth rates of the capital and labor input stocks. These factors contribute 3 percentage points to their respective countries' total output growth rates. Output growth rates are 4 % for country 1 and 7 % for country 2. Which of the following is the most likely explanation for the difference in total output growth between these two countries? A. The two countries have differences in the amount of population growth. B. Country 1 has a higher level of investment in physical capital. C. Country 1 has a lower level of investment in physical capital. D. The two countries have differences in the amount of technology or productivity growth they are experiencing.
Answers
Answer:
D. The two countries have differences in the amount of technology or productivity growth they are experiencing
Explanation:
Productivity is the ability of an entity to utilise it's scarce resources in such a way that output is higher than others that have access to the same resources.
Technological growth improves the productivity of a country by making processes more efficient.
In the given scenario country 1 and 2 have the same labour and capital growth. This means the resources they have are equal.
However country 2 has a higher total output growth than country 1.
The logical explanation is that country 2 has advanced technologically more than country 1 thereby increasing its output with the same level of input.
which of the following terms was defined by researcher christina maslach as a psychological syndrome in response to chronic interpersonal stressors on the job?
Answers
Burnout is a term defined by researcher Christina Maslach as a psychological syndrome in response to chronic interpersonal stressors at work. It is a state of physical, emotional and mental exhaustion caused by excessive and prolonged stress.
It occurs when an individual feels so overwhelmed and unable to meet the constant demands of their job. Burnout can be caused by a number of factors, including lack of recognition, unrealistic expectations from superiors, and lack of control over one's work. To prevent burnout, it's important for employers to create a healthy work environment that offers support, recognition and meaningful opportunities for growth.
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Choose a real or made up example of a company, and describe at least three variable costs the company has.
Answers
•shipping costs
•employee labor costs
•material costs
A USP should NOT be unique and memorable.
False
True
I don't know
It depends
Answers
Answer:
false
Explanation:
PLEASE HELP!!!!!!
Type the correct answer in the box.
Spell all words correctly.
George has to present the goals of information management to his team member. What is a goal of information management?
The goal of information management is to identify information requirements for various
levels.
Answers
The goal of information leadership is to identify the information needs of various management levels.
The appropriate and optimised capture, storage, retrieval, and use of information is referred to as information management (IM). It could be personal or organisational information management. IM for organisations refers to a cycle of organisational activity that includes the acquisition of data from one or more sources, the custodianship and distribution of that information to those who require it, and its eventual disposal via archiving or deletion.
This information organisation cycle involves a number of stakeholders, including those responsible for ensuring the quality, accessibility, and utility of acquired information; those responsible for its safe storage and disposal; and those who require it for decision making.
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Production is an example of a marketing activity.
Question 1 options:
True
False
Answers
A business owner decides to give all her employees a living wage and benefits, including any new employees.
Which social responsibility stance did the business owner demonstrate?
Answers
Answer:
Proactive stance.
Explanation:
In Business management, social responsibility can be defined as an organization's obligation to act in a manner that benefits and adds significant value to the society and the people, usually as it conducts its business operations.
Hence, in addition to making profits and maximizing shareholders, organizations are required to lessen negative environmental impact or degradation and provide social amenities such as pipe-borne water, electricity, roads etc. It is also referred to as corporate social responsibility (CSR).
In this scenario, a business owner gave all her employees a living wage and benefits, which is also applicable to any new employees. Thus, the social responsibility stance which the business owner demonstrate is proactive stance.
A proactive stance can be defined as voluntary business practices adopted by an organization or business firm beyond the standard regulatory practice, so as to actively enhance and facilitate growth and development in a society.
In 1995, a working group of French chief executive officers was set up by the Confederation of French Industry (CNPF) and the French Association of Private Companies (AFEP) to study the French corporate governance structure. The group reported the following, among other things: “The board of directors should not simply aim at maximizing share values as in the U.K. and the U.S. Rather, its goal should be to serve the company, whose interests should be clearly distinguished from those of its shareholders, employees, creditors, suppliers and clients but still equated with their general common interest, which is to safeguard the prosperity and continuity of the company”. Evaluate the above recommendation of the working group.
Answers
The above recommendation of the working group is one that is very okay by me as the right approach for the The board of directors because the first thing they need to have in mind is the group of the company.
When individual or shareholders, employees, creditors, etc. are known to cloud their judgement, they will not let the company function to its maximum capacity but when they remove every form of bias from heir mind, the company will move forward and never undermining the general common interest.
What does a workgroup accomplishes?A working group may include members from various organizations, divisions, or functions. The goal of creating a working group is to give room for the exchange of ideas and information among a set of predetermined individuals in order to accomplish a given or desired result.
Therefore, The above recommendation of the working group is one that is very okay by me as the right approach.
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Which of the following statements about the W-4 form is TRUE?
A) This form is given to employees on their first day on the job.
B) The purpose of the form is to let employers know how much money to withhold from an employee's paycheck for taxes.
C) The purpose of the form is to provide employees with reported wage and salary information.
D) This form is given to employees every January.
Answers
Based on the uses of W-4 form, the best option is that B) The purpose of the form is to let employers know how much money to withhold from an employee's paycheck for taxes.
The W-4 Form Is used to determine the withholding tax from an employee. Applies to both part time and full time workers.This form therefore allows employers to know exactly how much they should deduct from an employee's salary for tax. If the employee has any exemptions, they can also note this in this form.
In conclusion, option B is correct.
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Which of the following best illustrates duress? Group of answer choices Bob was to deliver goods worth $500 to Pam on October 1, but failed to do so. Pam tells Bob that unless he pays her $600, which it cost her to obtain goods from another supplier, she will sue him in court. Diana, a real estate agent, brings her car in for repair at Eric's Auto Repair. After examining the car, Eric gives Diana a $500 estimate for the work to be done. Diana needs her car to do her job, so she reluctantly agrees to the repairs. Len has contracted to sell goods to Mel. Knowing that Mel needs the goods to be delivered on a specific date, Len threatens to withhold delivery on that date unless Mel agrees to pay a higher price. Bill persuades his elderly mother to withdraw her life savings from the bank and make an interest-free loan to him.
Answers
Answer:
Len has contracted to sell goods to Mel. Knowing that Mel needs the goods to be delivered on a specific date, Len threatens to withhold delivery on that date unless Mel agrees to pay a higher price.
Explanation:
Duress is when a person enters into an agreement due to threats
Mel had to agree to Len's terms because he threatened to withhold her goods which she needed
Pizza International, Incorporated, reported the following information (in thousands):
Operating Activities
Net Income $ 100
Depreciation 33,305
Increase in receivables 170
Decrease in inventory 643
Increase in prepaid expenses 664
Decrease in accounts payable 8,720
Increase in accrued liabilities 719
Decrease in income taxes payable 2,721
Payments on notes payable 12,691
Cash paid for equipment 29,073
The following is the summarized income statement for Pizza International, Incorporated (in thousands):
Revenues $ 143,551
Cost of Sales 45,500
Gross Profit 98,051
Salary and Wages Expense 56,835
Depreciation 33,305
Office Expense 7,781
Net Income before Income Tax Expense 130
Income Tax Expense 30
Net Income $ 100
Required:
Based on this information, compute cash flow from operating activities using the direct method. Assume Prepaid Expenses and Accrued Liabilities relate to office expenses.
What was the primary reason that Pizza International was able to report large positive cash flow from operations despite nearly having a net loss?
Answers
The combination of adding back non-cash expenses, decreases in working capital accounts, and a decrease in inventory contributed to the large positive cash flow from operations despite nearly having a net loss.
To compute cash flow from operating activities using the direct method, we need to analyze the changes in different balance sheet accounts. Let's go step by step:
Step 1: Calculate Cash Flows from Operating Activities using the Direct Method
- Start with net income: $100,000
- Add back depreciation: $33,305
- Subtract the increase in receivables: $170
- Add the decrease in inventory: -$643 (Note: decrease is subtracted)
- Subtract the increase in prepaid expenses: -$664
- Add the decrease in accounts payable: -$8,720 (Note: decrease is subtracted)
- Subtract the increase in accrued liabilities: -$719
- Add the decrease in income taxes payable: -$2,721
- Subtract payments on notes payable: -$12,691
- Subtract cash paid for equipment: -$29,073
Cash flow from operating activities using the direct method: $99,464
Step 2: Analyzing the reason for positive cash flow from operations despite a net loss
The primary reason that Pizza International was able to report large positive cash flow from operations despite nearly having a net loss is due to non-cash expenses, such as depreciation, which is added back to net income. Depreciation is a non-cash expense that reduces net income but does not involve actual cash outflow. Therefore, adding back depreciation increases the cash flow from operating activities.
Additionally, there were decreases in working capital accounts, such as accounts payable and income taxes payable, which led to a positive impact on cash flow from operating activities. The decrease in accounts payable and income taxes payable means that Pizza International paid off its liabilities, resulting in a decrease in cash outflow.
Furthermore, there was a decrease in inventory, which also positively impacted cash flow from operating activities. Decreasing inventory reduces the amount of cash tied up in unsold goods.
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How can a firm obtain the expertise needed to produce and market its products in another part of the world
Answers
a firm obtain the expertise needed to produce and market its products in another part of the world. by providing employ Training companies specialize in various kind of aspects of running a business, adding producing products and marketing them efficiently. You can contract such a firm to come into your business and teach your personnel the skills they need to learn to produce and sell your product.
A firm is a for-profit business, mainly formed as a partnership that provides professional services, known as legal or accounting services. The theory of the firm posits that firms exist to maximize profits and almost zero of the loss.
A firm is any type of business. illustration of firms are a sole proprietorship, partnership, limited liability company, or corporation. The term refer to more commonly associated with a partnership.
Business skills are competencies that belongs to people who knows the consumer habits and organizational behavior so they can use this knowledge to promote the success of the company. Business skills typically qualify as soft skills , and may represent team management, leadership and communication skills.
A product is could be any of the item or service you sell to serve a customer's need or want. They can be physical or virtual. Physical products represents durable goods
Networking is the simplest way of obtaining this so - called “ expertise . ” Connections need to be made locally , nationally then, globally.
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Domestic Industries. Inc. is relocating its manufacturing facilities from Ohio to Mexico. What term could we use for this decision?
Group of answer choices
A)Outsourcing
b)Off-shoring
c)Domestic Outsourcing
D)In-sourcing
Answers
B) Off-shoring.
Off-shoring refers to the relocation of a company's business processes or manufacturing facilities from one country to another, often to take advantage of lower labor costs or other economic benefits. In this case, Domestic Industries, Inc. is relocating its manufacturing facilities from Ohio to Mexico, which would be considered an example of off-shoring.
Outsourcing, on the other hand, refers to the practice of hiring an external company to perform business functions or tasks that would traditionally be handled in-house. Domestic outsourcing refers to the hiring of a domestic company to perform outsourced tasks, while in-sourcing refers to the practice of bringing external functions back in-house.
Gantt charts are most helpful when:
Answers
Answer: For planning and scheduling projects.
an increase In long run aggregate supply can be expected to _______ the price level and ______ the natural rate of unemployment.
Answers
Answer:
fall is the answer for both blanks
Firm A is a profit-maximizing firm with a monopoly in the production of Good X. The firm sells its good for $10 each. We can conclude that Firm A is producing a level of output at which:
Answers
If the Firm A is having a monopoly in the production of X we can assume that the Firm A is producing at a level of output which is marginal cost equals marginal revenue.
What is a monopoly?This is a situation that exists in a market where there is a single producer or seller of a product. The monopolist has no competitors.
Due to this he enjoys unfair advantages and can set the price in the market to any level that he wants.
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Which of the following is a disadvantage of geographical departmentization?
Answers
Answer:
The overlap of assignments results in territorial departmentization.
Explanation:
Other than stressing individual departments divisions, it reflects on an entity as whole and. It forbids differentiation among workers, leading to duplication of duties. It is restricted to organisations that are small.
Dakota Coffee Company produces Columbian coffee in batches of 7,500 pounds. The standard quantity of materials required in the process is 7,500 pounds, which cost $6.00 per pound. Columbian coffee can be sold without further processing for $9.80 per pound. Columbian coffee can also be processed further to yield Decaf Columbian, which can be sold for $11.60 per pound. The processing into Decaf Columbian requires additional processing costs of $6,300 per batch. The additional processing will also cause a 5% loss of product due to evaporation.
Question Content Area
a. Prepare a differential analysis dated December 11 on whether to sell regular Columbian (Alternative 1) or process further into Decaf Columbian (Alternative 2). If required, use a minus sign to indicate a loss.
Answers
The differential analysis is attached accordingly. The workings are indicated below.
What is differential analysis?Differential analysis is a decision-making approach that analyzes the net effects of two alternatives by examining the advantages and costs associated with each. The option chosen has the greatest advantageous (or least adverse) financial impact.
To arrive at the figures in the differential analysis first we derive the Revenue from selling regular Columbian:
Recall that:
Revenue = Sales x Quanity Manufactured; hence
9.8 x 7500
= $73,500
Revenue from Decan Columbian:
11.6 x (95% x 7500)
= 11.6 x 7125
= $82, 650
Cost of selling regular Columbian
Cost = Cost x Units produced
= 6 x 7500
= $45,000
Compute the cost of selling Decaf Columbian
In this case, Cost = Product Cost + Cost of processing
= 45,000 + 6300
= $51,300
Hence the figures indicated in the differential analysis.
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select a business from any of three business sectors
Answers
A business from any three business sectors is industry. Businesses clearly differ in what they do.
Businesses are frequently classified according to their industry or sector. An industry is a group of businesses which are related in terms of their primary activity, such as car manufacturing or grocery sales. Smaller industries (such as car manufacturing) can be grouped to larger industry sectors (such as the manufacturing sector in general). An individual business is classified as belonging to a specific industry based on its primary activity.
As a result, this company would be classified as belonging to the automobile manufacturing industry rather than financial services.
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