Answer:
a) How many cakes should you bake? How many cakes should you purchase?
you should bake 5 cakes and purchase 5.b) Given your answer to part a, how much in total will the 10 cakes cost cake(s) and purchase cake(s) you?
$145c) How much would it have cost you to bake all 10 cakes?
$190d) How much would it have cost you to purchase all 10 cakes?
$150Explanation:
expected sales 10 cakes
price per cake $30
purchase price $15 per cake
Number of cakes Total cost of baked cakes ($) you bake
0 0
1 10
2 22
3 36
4 52
5 70 average price = $14 per cake
6 90 average price = $15 per cake
7 112
8 136
9 162
10 190
If you make 5 cakes your cost will be lower than if you purchase them. But if you want to bake 6 cakes, then the total cost is the same as purchasing them, therefore, it would be better to start purchasing them.
a) you should bake 5 cakes and purchase 5.
b) $145
c) $190
d) $150
The calculation is as follows:expected sales 10 cakes
price per cake $30
purchase price $15 per cake
Number of cakes Total cost of baked cakes ($) you bake
0 0
1 10
2 22
3 36
4 52
5 70 average price = $14 per cake
6 90 average price = $15 per cake
7 112
8 136
9 162
10 190
If you make 5 cakes your cost will be lower than if you purchase them. However, if you want to bake 6 cakes, so the total cost is the same as purchasing them, therefore, it would be better to start purchasing them.
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2. Adama Garment which is operating in Adama currently has opened four new stores in Ethiopia. Data on monthly sales volume and labor hours are given below for each town. Which store location has the highest labor productivity?
Store
Bale-robe
Hawassa
Nekemt
Dahirdar
Sales volume
12000birr
60000birr
40000birr
25000birr
Labor hours
60
500
250
200
3. Adama Garment accountant (from Problem 2) suggests that monthly rent and hourly wage rate also be factored into the productivity calculations.
Hawassa pays the highest average wage at birr 6.75 an hour. Bale-Robe pays birr
6.50 an hour, Nekemte birr 6, and Bahirdar birr 5.50. The cost to rent store space
is birr 2000 a month in Hawassa, birr 800 a month in Nekemte, birr 1200 a month
in Bale-Robe, and birr 1500 a month in Bahirdar.
Which store is most productive?
Adama garment general manager is not sure it can keep all four stores open. Based on multifactor productivity, which store would you close? What other factors should be considered?
Adama Garment's Bale-robe store has the highest labor productivity. It generates 200 birr per labor hour, followed by Hawassa (40 birr/hour), Nekemt (16 birr/hour), and Dahirdar (12.5 birr/hour).
How to solveTo calculate labor productivity, we divide the monthly sales volume by the labor hours. Bale-robe has the highest labor productivity because it generates the most sales per labor hour.
Here is the table showing the labor productivity of each store:
Store Sales volume (birr) Labor hours Labor productivity (birr/hour)
Bale-robe 12,000 60 200
Hawassa 60,000 500 40
Nekemt 40,000 250 16
Dahirdar 25,000 200 12.5
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tony has important decisions to make about the future of an employee, but before he can make those decisions he needs to get some accurate and truthful information from the employee on a sensitive issue. because he needs to use the richest communication channel possible to discuss a delicate matter with the employee, which of the following would best suit his needs?
The best communication channel for Tony to gather accurate and truthful information from an employee on a sensitive issue would be face-to-face communication.
Face-to-face communication allows for a rich and nuanced exchange of information that cannot be replicated through other communication channels. Through face-to-face communication, Tony can read the employee's body language, tone of voice, and facial expressions, which can provide important context for the information being shared.
Additionally, face-to-face communication allows for immediate feedback and clarification, which can help Tony better understand the employee's perspective and provide more tailored guidance.
Finally, face-to-face communication can help build trust and rapport between Tony and the employee, which can be important for sensitive issues that require delicate handling.
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Consider a risky portfolio. The end-of-year cash flow derived from the portfolio will be either $70,000 or $200,000 with equal probabilities of .5. The alternative risk-free investment in T-bills pays 6% per year. a. If you require a risk premium of 8%, how much will you be willing to pay for the portfolio?
Answer:
$118,421
Explanation:
first we must calculate the expected value of the risky portfolio = ($70,000 x 0.5) + ($200,000 x 0.5) = $135,000
since your risk premium is 8% and the risk free rate is 6%m then you should discount the expected value by 8% + 6% = 14% to determine its current market price
= $135,000 / (1 + 14%) = $118,421
Marriage between individuals who have similar social characteristics
Homogamy is the marriage between individuals who have similar social characteristics.
What is homogamy?Homogamy is the practice that involves individuals marrying each other because they have similar characteristics. It involves marriage between individuals who are, in some culturally important way, similar to each other.
The similar characteristics in homogamy include:
Race/ethnicityReligious backgroundAgeEucation backgroundSocial backgroundTherefore, marriage between individuals who have similar social characteristics is know as homogamy.
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at at each vs the project risk analysis and management program should produce
At each phase, the project risk analysis and management program should produce Deliverables.
Option C is correct.
In project management, what exactly is project risk analysis?Risk analysis looks at how the impact of a risk event might change the project's outcomes and goals. After risks are identified, they are examined to determine their qualitative and quantitative impact on the project, enabling appropriate mitigation measures to be taken.
Risk analysis looks at how the impact of a risk event might change the project's outcomes and goals. After risks are identified, they are examined to determine their qualitative and quantitative impact on the project, enabling appropriate mitigation measures to be taken.
Incomplete question :
At each phase, the project risk analysis and management program should produce:
A) Alternatives.
B) A budget.
C) Deliverables.
D) Meetings.
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Which of the following is NOT a feature in the Formulas menu of the Macabacus Excel add-in? Review Later Summary Statistics Error Wrap Quick CAGR Formula Flow
The following that is NOT a feature in the Formulas menu of the Macabacus Excel add-in is Formula Flow. This is further explained below.
What is Formula Flow?Generally, The formula for the volumetric flow rate is as follows: Vf = A*v, where A is the cross-sectional area and v is the flow velocity.
In conclusion, Macabacus is an Excel add-in that has many useful features, but Formula Flow is not one of them.
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During the month of March, Munster Company's employees earned wages of $64,000. Withholdings related to these wages were $4,896 for FICA, $7,500 for federal income tax, $3,100 for state income tax, and $400 for union dues. The company incurred no cost related to these earnings for federal unemployment tax but incurred $700 for state unemployment tax. Journalize payroll entries.
Answer:
A. Dr salaries and wages expense for 64,000
Cr to FICA taxes payable for 4,896
Cr Federal Income Tax Payable for 7,500
Cr State Income Tax Payable for 3,100
Cr Union Dues Payable for 400
Cr Salaries and Wages Payable for 48,104
B. Dr payroll tax expense for 5,596
Cr FICA tax payable for 4,896
Cr State Unemployment for 700
Explanation:
Preparation to Journalize the payroll entries
A. Dr salaries and wages expense for 64,000
Cr to FICA taxes payable for 4,896
Cr Federal Income Tax Payable for 7,500
Cr State Income Tax Payable for 3,100
Cr Union Dues Payable for 400
Cr Salaries and Wages Payable for 48,104
(64,000-4,896-7,500-3,100-400)
B. Dr payroll tax expense for 5,596
(4,896+700)
Cr FICA tax payable for 4,896
Cr State Unemployment for 700
Type the correct answer in the box. Spell all words correctly.
What is the repercussion of excessive tax withholding?
If you withhold excessive tax, you will receive a
when you file your taxes the following year.
The repercussion of excessive tax withholding is that the tax payable will remain unpaid.
What is excessive tax withholding?A tax withholding means the amount of income tax that employer withholds from its employee's income to the payment of tax in government coffers in the employee's name
In conclusion, the repercussion of excessive tax withholding is that the tax payable will remain unpaid.
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Answer:
Refund
Explanation:
The IRS states that a refund will happen if this is the case.
An electronics manufacturer in Japan creates a strategic partnership with a
large retailer in the United States. They both invest funds into the partnership
and share in the control of the distribution and resources. The Japanese
company gets a tax advantage because of this partnership, and the U.S.
company gets an advantage because of the exclusivity agreement to carry
these electronic products. Which type of global entry strategy does this
example highlight?
Answer:
Creating a joint venture.
Explanation:
A foreign direct investment (FDI) can be defined as an investment made by an individual or business entity (investor) into an investment market (industry) located in another country. The investor here, shares a different country of origin from the country where his investment is located. In a foreign direct investment (FDI), an investor must establish his business, factory and operations in a foreign country or acquire assets in a business that is being operated in a foreign country.
Additionally, foreign direct investment (FDI) are categorized into three (3) main types and these are;
1. Vertical FDI: it involves establishing a different business that is however similar to the main business owned by the investor.
2. Horizontal FDI: it involves establishing the same type of business in a foreign country as owned in the investor's country.
3. Conglomerate FDI: it involves establishing a business that is completely different in another (foreign) country.
A joint venture can be defined as a type of business partnership which typically involves making direct investment in a foreign country with a domestic partner. It is typically established or initiated by two or more people on mutual grounds to make profits and sharing costs.
In this scenario, an electronics manufacturer in Japan creates a strategic partnership with a
large retailer in the United States.
Thus, the type of global entry strategy which this example highlight is creating a joint venture.
Consideration is an important required part of the 4 Classification Categories.
True or False?
Consideration is an important required part of the 4 Classification Categories is true.
Consideration is what makes the foundation of a contract. An agreement without consideration cannot amount to a legally enforceable contract. According to the Indian Contract Act, 19872, consideration is something done at the desire of the promisor. As consideration, the promisor may ask the promisee or any other person to do or abstain from doing something. This act of abstinence from it is known as the consideration to the contract. Consideration may be of three types– past, present, and future. The consideration must move at the desire of the promisor.
Consideration is an important required part of the 4 Classification Categories
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According to the Damodaran text and any other sources, what are the three most important aspects of valuing a private firm, such as a sports team, and what are some of the difficulties in and ways of obtaining financial information? Provide a reference for at least your first posting.
The three most important indices for valuing a firm are:
Value of AssetsFinancial MetricsCorporate Governance.What is Valuation in Finance?The process of determining the present worth of an asset in finance is known as valuation. It is frequently the hypothetical price that a third party would pay for a specific item in a commercial environment. Assets and liabilities can both be valued.
The six steps to valuation are as follows:
Determine the goal.Examine the procedure.Methods of valuationUpscaling, integration, and bridgingCommunicate.Examine the procedure.For determining the economic worth of a firm, three types of valuation methodologies are typically used: market, cost, and income; each method has pros and disadvantages.
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A major concern with Social Security is the possibility that funds will not be available when today’s tax-payers retire to become beneficiaries. According to the Social Security Trustee’s report, an increase of 1.89% in the Social Security payroll tax would keep the account full for the next 75 years. To achieve similar results, benefits would have to be decreased from the current 42% of the ending salary to 29% of the salary. Cindy is relatively new to the workforce. She has 32 years until she can retire. Her current annual salary is $45,000. 1a) Calculate how much Cindy will have to pay in Social Security tax (6.2%) based on this salary. 1b) Calculate how much Cindy will have to pay in Social Security tax if the tax was increased by 1.89%. 2a) Calculate Cindy’s annual Social Security benefit (about 42%) if her salary remains unchanged until she retires (annual average is $45,000). 2b) Calculate Cindy’s annual Social Security benefit if her salary remains unchanged but benefits (based on her annual salary of $45,000) were cut from 42% to 29%. 3) If Cindy were given a choice between the increase in Social Security tax now or the decrease in Social Security benefits when she retires, which would you recommend she choose? Explain your answer thoroughly.
If the tax was raised by 1.89%, Cindy will be responsible for paying Social Security tax 3,640.50.
Equation :1a) 45,000 * 6.2% = 2,790
1b) 45,000 * (6.2% + 1.89%) = 45,000 * 8.09% = 3,640.50
2a) 45,000 * 42% = 18,900
2b) 45,000 * 29% = 13,050
Briefing :Instead of a reduction in Social Security benefits when she retires, I believe it would be preferable to have an increase in Social Security taxes now and earn an annual pension of $18,900.
Does everyone contribute to Social Security?Regardless of whether they are employed by an employer or work for themselves, the majority of taxpayers are required to pay Social Security taxes on their income. A few categories of American taxpayers are exempt from the Social Security tax, nevertheless.
By choosing not to participate in Social Security, you can invest more of your salary in your own retirement plan. Additionally, it offers you the option to manage that portion of your income on your own terms based on biblical principles rather than letting Uncle Sam make that decision for you.
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A newspaper vendor is trying to determine how many daily papers to order. The cost to the vendor of a single paper is $0.75. The vendor sells each paper for $1.85. The value of the paper will drop to 0 the next day. If the daily demand for papers is normally distributed with a mean of 500 papers and a standard deviation of 100 papers. The newspaper vendor should order how many papers?
a. 500
b. 525
c. 559
d. 795
e. 475
Answer:c
Explanation:cuz it c
What is penetration pricing?
OA. The approach of lowering prices temporarily to gain market share
OB. Intentionaly not lowering prices below all competitors in order not
OC. A fairly standard retail markup in which the retailer's cost is
O D. When a business simply tries to bring in enough revenue to survive
to enter into price wars
doubled
the difficult period
Answer:
A. The approach of lowering prices temporarily to gain market share
Explanation:
Penetration pricing is a strategy that marketers use to quickly gains market share of a new product. The strategy involves lowering the price of new products to woe customers to buy. The lowering of the price is temporary. Marketers use this strategy to introduce a product as a pocket-friendly alternative.
Penetration pricing is used where a product will be in competition with other existing brands. After the product has gain market share, marketers may increase the price to make profits.
Answer:
A
Explanation:
The journal entry to record the receipt of a payment within the discount period on a sale of $900 with terms of 2/10, n/30 will include a
Answer and Explanation:
Given that
The Sale is made for $900
Terms 2/10, n/30 that means if the payment is made within 10 days than 2% discount is eligible and the total credit period allowed is 30 days
Now the journal entry to record the receipts of a payment within discount period is
Cash Dr $882
Sales discount $18
To Account receivable $900
(Being the cash received)
When an existing contract is replaced with an entirely new contract , it is called
Answer:
novation
Explanation:
How do you plan to become a responsible consumer?
Answer:
Do not be a Karen :) No no I'm just kidding- a way to be is respect, make sure ur patent, if you talking about the other meaning to it which is eating something the answer for that is to not be picky uhhh yeah I hope this helped
also I know I'm weird forgive me-
ANSWER FAST PLEASE!!
What could a consumer do to help his or her community? *financial literacy*
A. buy imported goods
B. user fewer plastic utensils
C. buy goods online
D. purchase goods produced locally
A consumer can help his or her community financial literacy wise by purchasing the goods produced locally because its helps the economy in GDP.
What is financial literacy?A financial literacy refers to a possession of an ability to understand financial skills including personal financial management, budgeting, investing etc
Hence, a consumer can help his or her community financial literacy wise by purchasing the goods produced locally because its helps the economy in GDP.
Therefore, the Option C is correct
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Ortega Industries manufactures 15,000 components per year. The manufacturing cost of the components was determined to be as follows: Direct materials $150,000 Direct labor 240,000 Variable manufacturing overhead 90,000 Fixed manufacturing overhead 120,000 Total $600,000 An outside supplier has offered to sell the component to Ortega for $34. Assume that the the fixed manufacturing overhead is common fixed overhead. Which means that the fixed overhead would remain the same even if the company decides to buy the component from an outside supplier. If Ortega Industries purchases the component from the outside supplier, the effect on income would be a: $30,000 increase. $30,000 decrease. $90,000 increase. $90,000 decrease.
Answer:
$30,000 decrease
Explanation:
The computation is shown below:
In the case when the production is done from Chetak's Factory
Number of Components produced 15000 15000
Total cost incurred $600,000
In the case when the production is done from outside
Number of Components produced 15,000
Total cost spend $630,000 ((15,000 × 34) + $120,000)
S the difference is
= $600,000 - $630,000
= -$30,000
Therefore the second option is correct
The country of Batavia produces only chocolates and watches. Below is a table with recent information on Batavia production and prices. The base year is 2009.
Prices and Quantities
Year
2008
2009
2010
2011
Price of A Box Boxes of
of Chocolates
Chocolates
$4
$5
$5
$6
100
90
100
80
Price of
Watches.
$50
$50
$60
$65.
Quantity of
Watches
10
15
15
12
Refer to Table 23-6. What was the inflation rate for 2011? Show your work.
Answer:
Explanation: chocalates 390
prices of watched 225
quantity of watches is 52
390+225+52 = 667
During 2022, its first year of operations as a delivery service, Flounder Corp. entered into the following transactions.
1. Issued shares of common stock to investors in exchange for $137,000 in cash.
2. Borrowed $55,000 by issuing bonds.
3. Purchased delivery trucks for $63,000 cash.
4. Received $18,000 from customers for services performed.
5. Purchased supplies for $6,600 on account.
6. Paid rent of $5,900.
7. Performed services on account for $10,700.
8. Paid salaries of $26,700.
9. Paid a dividend of $11,500 to shareholders.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders’ Equity in the far right column. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced, see Illustration 3-4 for example.)
Answer:
Flounder Corp.
The Effect of Each Transaction on the Accounting Equation:
1. Issued shares of common stock to investors in exchange for $137,000 in cash.
Assets (Cash +$137,000) = Liabilities + Equity (Common Stock +$137,000))
2. Borrowed $55,000 by issuing bonds.
Assets (Cash +$55,000) = Liabilities (Bonds Payable +$55,000) + Equity
3. Purchased delivery trucks for $63,000 cash.
Assets (Cash -$63,000; Trucks +$63,000) = Liabilities + Equity
4. Received $18,000 from customers for services performed.
Assets (Cash +$18,000) = Liabilities + Equity (Retained Earnings +$18,000)
5. Purchased supplies for $6,600 on account.
Assets (Supplies +$6,600) = Liabilities (Accounts Payable +$6,600) + Equity
6. Paid rent of $5,900.
Assets (Cash -$5,900) = Liabilities + Equity (Retained Earnings -$5,900)
7. Performed services on account for $10,700.
Assets (Accounts Receivable +$10,700) = Liabilities + Equity (Retained Earnings +$10,700)
8. Paid salaries of $26,700.
Assets (Cash -$26,700) = Liabilities + Equity (Retained Earnings -$26,700)
9. Paid a dividend of $11,500 to shareholders.
Assets (Cash -$11,500) = Liabilities + Equity (Retained Earnings -$11,500)
Explanation:
The accounting equation states that Assets = Liabilities + Equity. This equation is the basis of the double system of recording accounting transaction. It shows that assets are funded by either liabilities or equity or a combination of the two. With this equation, every transaction is recorded twice on either side of the equation or on one side, as the case may be. The equation is always in balance because transactions are entered twice.
Weakness of cardinal and ordinal utility
Cardinal utility is the utility that is quantified and measured numerically. In contrast, ordinal utility is a type of utility that is non-measurable and only identifies the preference order of the consumer.
The following are some of the limitations or weaknesses of the cardinal and ordinal utility approach:Weaknesses of Cardinal Utility:Cardinal utility has certain limitations, such as the following:It's impossible to determine the precise value of the utility. In cardinal utility, consumer satisfaction or happiness is measured in terms of units. However, it is difficult to assign a precise numerical value to utility because it is subjective and varies from person to person.
It assumes that the consumer is rational and can measure satisfaction. Cardinal utility analysis assumes that consumers are rational and can assign a value to their happiness, which may not be the case in practice. Consumers may have irrational preferences, and their satisfaction may be influenced by various psychological factors, making it difficult to measure or assign a value to it.
The law of diminishing marginal utility may not hold true. The concept of the law of diminishing marginal utility states that as we consume more units of a commodity, the marginal utility decreases, but this may not be the case in practice.
Weaknesses of Ordinal Utility:Ordinal utility has several limitations, including the following:It doesn't account for the intensity of preference. Ordinal utility only assesses the preference order of the goods, not the intensity of preference, which may differ from one consumer to another.It fails to establish the degree of satisfaction.
The ordinal utility approach only identifies the order of preference; it does not provide any information on the degree of satisfaction or happiness obtained from a commodity.There is no numerical value for the utility of a commodity. Ordinal utility cannot assign a numerical value to utility because it is a non-measurable concept.
Therefore, it is difficult to evaluate the level of satisfaction for each commodity, making it difficult to conduct mathematical analysis or quantitative analysis.
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Organizations can be evaluated on two basic dimensions with regard to
ocial responsibility--legality and responsibility.
In terms of social responsibility, organisations can be assessed on two fundamental criteria: responsibility and legality. true.
According to the ethical principle of social responsibility, every person has an obligation to uphold their social responsibilities, and their deeds must benefit society as a whole. This will ensure that economic progress, societal well-being, and environmental sustainability are all balanced. Social responsibility is achieved if this equilibrium is preserved. According to the ethical principle of social responsibility, every person has an obligation to uphold their social responsibilities, and their deeds must benefit society as a whole. This will ensure that economic progress, societal well-being, and environmental sustainability are all balanced. Social responsibility is achieved if this equilibrium is preserved.
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Describe the nature of the following major categories of risk (1) Financial Risks (2) Political Risks (3) Environmental Risks
Answer:
Market riskinvolves the risk of changing conditions in the specific marketplace in which a company competes for business. One example of market risk is the increasing tendency of consumers to shop online. This aspect of market risk has presented significant challenges to traditional retail businesses.
Explanation:
hope this helps
Answer:
Financial risk generally relates to the odds of losing money.
The financial risk most commonly referred to is the possibility that a company's cash flow will prove inadequate to meet its obligations.
Financial risk can also apply to a government that defaults on its bonds.
Credit risk, liquidity risk, asset-backed risk, foreign investment risk, equity risk, and currency risk are all common forms of financial risk.
Investors can use a number of financial risk ratios to assess a company's prospects.
Market risk, or systematic risk, affects the performance of the entire market simultaneously.
Market risk cannot be eliminated through diversification.
Specific risk, or unsystematic risk, involves the performance of a particular security and can be mitigated through diversification.
Market risk may arise due to changes to interest rates, exchange rates, geopolitical events, or recessions.
Explanation:
Ensuring mental wellness requires
The Winston Company estimates that the factory overhead for the following year will be $868,000. The company has decided that the basis for applying factory overhead should be machine hours, which is estimated to be 28,000 hours. The total machine hours for the year were 54,800 hours. The actual factory overhead for the year was $1,723,00.
Required:
a. Determine the total factory overhead amount applied.
b. Calculate the overapplied or underapplied amount for the year.
c. Prepare the journal entry to close Factory Overhead into Cost of Goods Sold.
Answer:
I just learn Logic Of ABi Nandan...Then after That I understand every thing...
Exercise 4-31 (Algo) Cost Flows; Applying Overhead [LO 4-3, 4-4, 4-5]
Erkens Company uses a job costing system with normal costing and applies factory overhead on the basis of machine hours. At the beginning of the year,
management estimated that the company would incur $1,596,000 of factory overhead costs and use 57,000 machine hours.
Erkens Company recorded the following events during the month of April:
a. Purchased 208,000 pounds of materials on account; the cost was $4.80 per pound.
b. Issued 134,000 pounds of materials to production, of which 22,000 pounds were used as indirect materials.
c. Incurred direct labor costs of $310,000 and $54,000 of indirect labor costs.
d. Recorded depreciation on equipment for the month, $78,500.
e. Recorded expired insurance costs for the manufacturing property, $4,900.
f. Paid $9,900 cash for utilities and other miscellaneous items for the manufacturing plant.
g. Completed Job H11 costing $8,900 and Job G28 costing $84,000 during the month and transferred them to the Finished goods inventory account.
h. Shipped Job G28 to the customer during the month. The job was invoiced at 35% above cost.
i. Used 10,500 machine hours during April.
Required:
1. Compute Erkens Company’s predetermined overhead rate for the year.
2. Prepare journal entries to record the events that occurred during April.
3-a. Compute the amount of overapplied or underapplied overhead.
3-b. Prepare a journal entry to close overapplied or underapplied overhead into cost of goods sold on April 30.
1. Erkens Company’s predetermined annual overhead rate is $28 per machine hour.
2. Journal Entries to record the events that occurred during April for Erkens Company are as follows:
Journal Entries:a. Debit Raw materials Inventory $998,400
Credit Accounts Payable $998,400
b. Debit Work in Process $643,200
Debit Factory Overhead $105,600
Credit Raw Materials $748,800
c. Debit Work in Process $310,000
Debit Factory Overhead $54,000
Credit Payroll Expenses $364,000
d. Debit Factory Overhead $78,500
Credit Depreciation Expenses $78,500
e. Debit Factory Overhead $4,900
Credit Insurance Expenses $4,900
f. Debit Factory Overhead $9,900
Credit Utility Expense $9,900
g. Debit Finished Goods Inventory $92,900
Credit Work in Process $92,900
h. Debit Accounts Receivable $113,400
Credit Sales Revenue $113,400
Debit Cost of goods sold $84,000
Credit Finished Goods Inventory $84,000
i. Debit Work in Process $294,000
Credit Factory Overhead $294,000
3-a) The amount of overapplied overhead is $41,100.
3-b) The journal entry to close overapplied overhead into the cost of goods sold on April 30 is as follows:
Journal Entry:Debit Factory Overhead (overapplied) $41,100
Credit Cost of goods sold $41,100
Data and Calculations:Estimated factory overhead costs = $1,596,000
Estimated machine hours = 57,000
Predetermined overhead rate = $28 ($1,596,000/57,000)
April Transactions:a. Raw materials Inventory $998,400 Accounts Payable $998,400
b. Work in Process $643,200 Factory Overhead $105,600 Raw Materials $748,800
c. Work in Process $310,000 Factory Overhead $54,000 Payroll Expenses $364,000
d. Factory Overhead $78,500 Depreciation Expenses $78,500
e. Factory Overhead $4,900 Insurance Expenses $4,900
f. Factory Overhead $9,900 Utility Expense $9,900
g. Finished Goods Inventory $92,900 Work in Process $92,900
Job G28 $8,900 Job G28 $84,000
h. Accounts Receivable $113,400 Sales Revenue $113,400
Cost of goods sold $84,000 Finished Goods Inventory $84,000
i. Work in Process $294,000 Factory Overhead $294,000
($28 x 10,500)
Factory Overhead account:Materials $105,600
Payroll $54,000
Depreciation Expenses $78,500
Insurance Expenses $4,900
Utility Expense $9,900
i. Work in Process $294,000
Total Overhead $252,900
Overapplied overhead $41,100
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Question 4 of 10
Which budget strategy will reduce a country's national debt the most?
A. Raising taxes while lowering spending
B. Lowering both taxes and spending
C. Lowering taxes while raising spending
D. Raising both taxes and spending
Answer: raising taxes while lowering spending
Explanation: I just got it right on A p e x
After each of the following statements, circle T for a true statement or F for a false statement.
1. Financial institutions usually do not charge a fee for checking
account services.
2. Most financial institutions offer online and telephone banking services.
3. Electronic funds transfer (EFT) often involves the use of ATM machines.
4. It is important to reconcile your checkbook immediately when you
receive the bank statement.
5. When a check you have issued has been lost or stolen, you should
request a stop payment order.
6. To open an account, either checking or savings, you first must fill
out and sign a signature form.
7. When a minimum balance is not maintained in a checking account,
the bank will usually waive a service charge.
8. A debit card is the same as a credit card.
9. A money market account is an interest-bearing checking account that
pays a higher rate of interest.
10. With online banking, you can make deposits and withdrawals.
Personal finance is indeed the financial planning that a person or a family unit uses to set a budget, save money, and spend it.
What is a Personal Finance?The answers for the given questions are:
False: The majority of the time, financial institutions don't charge for checking account services.True: The majority of financial organisations provide telephone and internet banking services.True: A common method of electronic money transfer (EFT) is to utilise an ATM.True: When you get your bank statement, it's crucial to promptly reconcile your chequebook.True: You must ask for a stop demand draft if a check you wrote has been misplaced or stolen.True: You must first complete and sign a signing form in order to create an account, either a checking or a savings one.False: The bank will often not impose a service fee if a checking account's budget range is not met.False: A debit card functions exactly like a credit card.True: An attention checking account that pays a greater rate of interest is known as a money market account.True: You may make withdrawals and deposits using internet banking.To know more about Personal finance, visit:
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You are an intern to the editor of a small-town newspaper in Mallsburg, Pennsylvania. Your boss, the editor, asks you to write the first draft of an editorial for this week's paper. Your assignment is to describe the costs and the benefits of building a new bridge across the railroad tracks in the center of town. Currently, most people who live in this town must drive 2 miles through thickly congested traffic to the existing bridge to get to the main shopping and employment center. The bridge will cost the citizens of Mallsburg $25 million, which will be paid for with a tax on their incomes over the next 20 years.
Required:
a.What are the opportunity costs of building this bridge?
b. What are the benefits that citizens will likely receive if the bridge is built?
c. What other factors might you consider in writing this editorial?