On September 1 of the current year,Scots Company experienced a flood that destroyed the company's entire inventory.Because the company had not completed its month end reporting for August,it must estimate the amount of inventory lost using the gross profit method.At the beginning of August,the company reported beginning inventory of $215,450.Inventory purchased during August was $192,530.Sales for the month of August were $542,500.Assuming the company's typical gross profit ratio is 40%,estimate the amount of inventory destroyed in the flood.A) $87,480B) $134,520C) $109,980D) $82,480E) $81,480

Answers

Answer 1

Answer:

D) $82,480

Explanation:

The computation of the amount of inventory destroyed is shown below:-

Cost of Goods available for sale

= Beginning Inventory + Inventory purchased

= $215,450 + $192,530

= $407,980

Cost of Goods Sold = Sales - Gross profit

= $542,500 - ($542,500 × 40%)

= $325,500

The Estimated amount of inventory destroyed

= Cost of Goods available for sale  - Cost of goods sold

= $407,980 - $325,500

= $82,480


Related Questions

Write a 1-page memo to the CEO. Include each chart (3) and a paragraph per chart. Each paragraph should explain the story of each visualization and explain why visualizations are important.

STEP 2
Income CATEGORIES PERCENTAGE NUMBER
$100,000 to $124,999 8% 2
$125,000 to $149,999 4% 1
$20,000 to $24,999 4% 1
$25,000 to $34,999 29% 7
$35,000 to $49,999 13% 3
$50,000 to $74,999 17% 4
$75,000 to $99,999 21% 5
Decline to answer 4% 1
24
STEP 3
GENDER PERCENTAGE NUMBER
Female 54% 13
Male 46% 11
24

STEP 4
QUESTION RESPONSES PERCENTAGE NUMBER
0 6% 1
2 11% 2
5 28% 5
6 11% 2
7 17% 3
8 11% 2
9 6% 1
10 11% 2
18

Answers

Answer:

[Your Name]

[Your Position]

[Date]

Subject: Insights from our Survey - A Window into the Lives of our Valued Customers

Dear [CEO's Name],

I hope this message finds you well. I wanted to take a moment to share some fascinating insights from the recent survey we conducted among our cherished customer base. To make the data more relatable and easier to grasp, I have transformed the findings into a series of engaging visualizations. These visuals not only bring the data to life but also allow us to truly connect with our customers on a human level. Let's dive into the story behind each visualization and explore why these visual representations are crucial in understanding our customers.

Chart 1: Income Categories - Reflecting the Lives of our Customers

This insightful chart provides a glimpse into the diverse income categories of our survey respondents. As you observe the bars rise and fall, you can visualize the financial landscapes our customers navigate. From the bustling middle-income group, representing 29% of respondents, to the resilient individuals in the $75,000 to $99,999 range, accounting for 21% of participants, we gain an intimate understanding of the financial tapestry that influences their decisions.

By presenting this information in such a humanized manner, we can empathize with the varying needs and aspirations of our customers. This visualization guides us in tailoring our products and services to better address the unique challenges and aspirations of each income segment.

Chart 2: Gender Distribution - Celebrating Diversity and Inclusion

This delightful pie chart celebrates the diversity among our survey participants by highlighting their gender identities. As you glance at the vibrant slices, you witness the vibrant mosaic of our customer base. With 54% of respondents identifying as female and 46% as male, we recognize the importance of inclusivity and strive to ensure our products and services cater to the needs and desires of all genders.

Visualizations like this one allow us to see the human faces behind the data. It reminds us to embrace diversity and equality in our business operations, ensuring that every customer feels heard and valued.

Chart 3: Question Responses - Unveiling Our Customers' Voices

Within this insightful bar chart, we uncover the authentic voices of our customers through their responses to a specific question. The bars rise and fall, revealing the choices they made and their preferences. The most popular response, "5," chosen by 28% of participants, demonstrates the collective sentiment that echoes among our customers. As we observe the varying heights of each bar, we gain a deeper understanding of their thoughts and desires.

Visualizations like this empower us to hear our customers' voices loud and clear. By listening attentively to their responses, we can make informed decisions that resonate with their needs, aspirations, and desires.

In summary, these captivating visualizations humanize our survey data, enabling us to truly connect with our customers and gain invaluable insights. By considering the stories behind each chart, we ensure that our strategies, products, and services align with their lived experiences. Together, we can build lasting relationships, foster inclusivity, and deliver the exceptional experiences our customers deserve.

Thank you for your time and attention. Should you have any questions or require further information, please don't hesitate to reach out.

Warm regards,

[Your Name]

[Your Position]

Explanation:

cullumber company has 2,000 shares of 7%, $100 par value preferred stock outstanding at december 31, 2022. at december 31 2022, the company declared a $120,000 cash dividend. determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios. 1. the preferred stock is noncumulative, and the company his not missed any dividends in previous years. the dividend paid to preferred stockholders $ the dividend paid to common stockholders s 2. the preferred stock is noncumulative, and the company did not pay a dividend in each of the two previous years. the dividend paid to preferred stockholders $ the dividend paid to common stockholders

Answers

The dividend paid to preferred stockholders is $14,000 and the dividend paid to common stockholders is $106,000.

Cullumber company has 2,000 Shares.

So, Preferred dividends = 2,000 shares x 7% x $100 = $14,000

The preferred stock has no cumulative value, and the business has never failed to pay dividends. As a result, the corporation shall pay preferred dividends for the current year.

Now, the company declared a $120,000 cash dividend.

So, the dividend paid to common stockholders = $120,000 - $14,000

= $106,000

When preferred stock is cumulative and the company did not pay a dividend in each of the two previous years.

Then,

Preferred dividends = 2,000 shares x 7% x $100 = $14,000

The dividend paid to preferred stockholders = $14,000 x (2 + 1) years

= $42,000

The dividend paid to common stockholders = $120,000 - $42,000

= $78,000

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On the last day of December 2016, Camreyâs Trucks entered into a transaction that resulted in a receipt of $216,000 cash in advance related to services that will be provided during January 2017. During December of 2016, the company also performed $128,000 of services which were neither billed nor paid. Prior to December adjustments and before these two transactions were recorded, the companyâs trial balance showed service revenue of $1,165,470 at December 31, 2016. There are no other prepaid services yet to be delivered, and during the month all outstanding accounts receivable from prior months were collected.If Camrey's trucks makes the appropirate adjusting entry, how much will service revenue will be reflected on the december 31, 2016 income statement?If Camrey's Trucks makes the appropriate adjusting entry, how much will be reported on the December 31, 2016 Balance sheet as unearned revenue?If Camrey's turcks make the appropriate adjusting entry, how much will be reported on the December 31, 2017 Balance sheet as accounts receivable?

Answers

Answer:

A. $ 1,293,470

B. $216,000

C. $128,000

Explanation:

A. Calculation for how much service revenue will be reflected on the december 31, 2016 income statement

Service Revenue show on the Trial Blance = $1,165,470

Add: Services which were neither billed nor paid = $ 128,000

Service Revenue reflected in the Dec.,31 2016 income statement =$ 1,293,470

Therefore how much service revenue will be reflected on the december 31, 2016 income statement will be $ 1,293,470

B. Calculation for how much will be reported on the December 31, 2016 Balance sheet as unearned revenue

Based on the information given we were told

that the company entered into a transaction which had resulted in the company receiving the amount of $216,000 as a cash in advance On the last day of the month of December 2016 which is related to services that will be provided during the month of January 2017 which means that the amount of $216,000 will be the amount of cash to be reported on December 31, 2016 Balance sheet as unearned revenue.

C. Calculation for how much that will be reported on the December 31, 2017 Balance sheet as accounts receivable

Based on the information given we were told that the During the month of December of 2016, the company as well rendered a service of the amount of $128,000 in which the service rendered were neither billed nor paid which means that the amount of cash the company will report on December 31, 2017 Balance sheet as accounts receivable will be $128,000.

What is market environment

Answers

Answer:

The market environment is the combination of external and internal factors that affect a company's ability to establish a relationship with and serve its consumers.

Explanation:

The internal factors relate to the company itself, such as owners, workers, materials, components, etc.

The external factors are divided into macro and micro components. The macro component is the broad environment which includes societal forces that affect society as a whole. The micro component is task-related, which includes factors that influence the production, manufacturing and distribution of a product or service.

An effective website will offer

clarity, meaning that it communicates all information clearly and concisely
consistency, meaning that it offers information that is factual and honest
conversion, meaning that the layout, design, and overall look of all its pages match
credibility, meaning that it effectively converts online readers into customers

Answers

An effective website will offer credibility, meaning that it effectively converts online readers into customers.

What is a website?

A website is a collection of related web pages, images, videos, and other digital assets that are hosted on a web server and are accessible via the internet. Websites are used for a variety of purposes, such as providing information about a company, providing access to online products and services, and even as a platform for online communication. Websites are typically created using a combination of HTML, CSS, and JavaScript, and are typically hosted on a web server.

Credibility is a measure of the trustworthiness and reliability of a website. An effective website will focus on converting online readers into customers by providing credible, accurate, and factual information.

It can be concluded that an effective website will offer credibility, meaning that it effectively converts online readers into customers.

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The period manufacturing costs of a company is comprised of $2,000,000 in direct materials, $1,000,000 in direct labor, and $500,000 in overhead, resulting in 7,000 units of product. Manufacturing operations is consisted of two processes, machining and assembly. Machining takes up 40% of direct materials, 60% of direct labor, and 50% of overhead. Provide a hybrid manufacturing cost statement, containing combined activity based costing and process costing.

Answers

Answer:

The Direct material cost per unit is = 285.714 per unit

The  Direct labor per unit is= 142.857 per unit

The Overhead cost per unit is  = 71.4285 per unit

Explanation:

Solution

We recall that:

The total direct material= $2000000

The total direct labor= $1000000

The units in products = 7000 units

The total Overheads= $500000

Now,

The direct materials on machinery is = $ 800,000(40%)

The direct labor on machinery  is= $ 600,000(60 %)

The machinery on overheard  is = $ 250,000(50 %)

The direct materials on assembly is  = $ 1200,000

The Direct labor on assembly is  = $ 400,000

The Overhead on assembly  is = $ 250,000

Thus,

The hybrid manufacturing cost statement is represented or shown below

Particular   Machinery (40%)in $     Assembly (60%)in $  Total in $

Now,

Particular = Direct material,

Machinery (40%)in $  = 800000

Assembly 60% in $ = 1200000

Total in $ =2000000

Grand total = 1650000

Particular = labor

Machinery (40%)in $  = 600000

Assembly 60% in $  = 400000

Total in $ = 1000000

Grand total = 1850000

Particulars = Overhead

Machinery (40%)in $ =250000

Assembly 60% in $ = 250000

Total in $ = 500000

Grand total = 3500000

Thus,

The Direct material cost per unit = 2000000/7000 = 285.714 per unit

The  Direct labor per unit = 1000000/700 = 142.857 per unit

The Overhead cost per unit = 500000/7 = 71.4285 per unit

feature of effective organisation goal​

Answers

Answer:

yespy9y8tdurakyeo6dpieufjf

Answer:

specific, measurable, achievable and timely. By setting clear, realistic goals, organizations have a clearer path to achieve success and realize its vision. Goal setting, and attaining them, can also help an organization achieve increased efficiency, productivity and profitability.

Which of the following business trends is valued across the world?A. high priority on performance orientationB. low priority on egalitarianismC. high priority on hierarchyD. low priority on humane orientationE. low priority on future orientation

Answers

Low priority on egalitarianism is the business trends is valued across the world. Hence, option B is correct.

What are the problems with egalitarianism?

Resources won't be distributed equally under an egalitarian welfare system. This method has the drawback that preferences change depending on one's environment. As a result, if preferences play a role in determining one's level of welfare.

In an egalitarian workplace, a lack of organizational structure in job descriptions and staff responsibilities can quickly cause disarray. Productivity may stall as a result of employees having trouble agreeing on the direction of the company or even the best ways to conduct daily operations.

Thus, option B is correct.

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on 9 OT 25
Which type of checking account charges a small fee for every check that
clears the account?
A. Cost-per-check account
B. Average balance account
C. Minimum balance account
o
D. Free account

Answers

free accounting suppose
step-by step

Answer:

A. Cost-per-check account

Explanation:

Ap3x

on 9 OT 25Which type of checking account charges a small fee for every check thatclears the account?A.

All of the following options represent primary goals of government spending EXCEPT... A. National Parks maintenance
B. Military
C. Public school education
D. Innovative consumer products

Answers

All of the following options represent primary goals of government spending except D. Innovative consumer products

What is the goals of government spending ?

It should be noted that the Government Spends Money in order to provide services, such as defense, roads, and bridges, as well as merit-based amenities like hospitals and schools,,

However this can encompass  welfare payments and benefits like unemployment and disability insurance.

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What is the relationship between interest rate, aggregate income, and price level?

Answers

The relationship is that A growth in aggregate demand increases total output, which then fuels a rise in the need for money. This further fuels an excessive demand for money, which raises the interest rate.

What is meant by the aggregate income?

The sum of all incomes in an economy, unadjusted for taxes, inflation, or other sorts of double counting, is known as aggregate income. Consumption spending plus net profits equal aggregate income, a measure of GDP. In economics, "aggregate income" refers to a broad conceptual idea.

Gross income is what is referred to as aggregate income, and it typically refers to the combined incomes of a married couple filing a joint tax return. All

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Indentify four characterisitics of MNE give trade union cause for concern

Indentify four characterisitics of MNE give trade union cause for concern

Answers

Association of employees: A trade union is essentially an association of employees belonging to a particular class of employment, profession, trade or industry. For example, there are unions for teachers, doctors, film, artistes, weavers, mine workers and so on.

Voluntary Association: An employee joins the trade union out of his free will. A person cannot be compelled to join a union.

Permanent Body: A trade union is usually a permanent body. Members may come and go but the trade union remains.

Common Interest: The member of a trade union have certain matters of common interest-job security, better pay and working conditions and so on, which bring them together.

Collective Action: Even when an individual employee has any grievance over certain management decisions, the matter is sorted out by the intervention of the trade union Employees are able to initiate collective action to solve any problem concerning any particular employee or all the employees.

Rapport with the Management: The trade union seeks to improve relations between the employees and employers. The officials of the trade union hold talks with the members of the management concerning the problems of the employees in order to find an amicable solution. It is thus possible for the employees to have better rapport with the management.

Hope this answer help you ....

Substitute x = b 2 into the simplified expression, the value was 20.

Answers

Answer:

b= 10 x = 20

Explanation:

b= 10. 10 x 2 =x

Therefore the value of X is 20 if you substitute the value twenty for x then divide that value by two you received your variable b's answer.

How to start a hotel business

Answers

Answer:

Franchise or your own?

Explanation:

According to O*NET, what are some common skills needed by Financial Analysts? Select four options.

Answers

Answer:

1256

Explanation:

hope this helps

does it have numbers or letters

Answer:

The top 2 and bottom 2

Explanation:

I got it correct on edge

According to O*NET, what are some common skills needed by Financial Analysts? Select four options.

NEED HELP ASAP
Cardinal Company is considering a five-year project that would require a $2,915,000 investment in equipment with a useful life of five years and no salvage value. The company’s discount rate is 16%. The project would provide net operating income in each of five years as follows:




Sales $ 2,863,000

Variable expenses 1,014,000

Contribution margin 1,849,000

Fixed expenses:

Advertising, salaries, and other fixed out-of-pocket costs $ 781,000

Depreciation 583,000

Total fixed expenses 1,364,000

Net operating income $ 485,000

14. Assume a postaudit showed that all estimates (including total sales) were exactly correct except for the variable expense ratio, which actually turned out to be 45%. What was the project’s actual payback period? (Round your answer to 2 decimal places.)

Answers

If the discount rate increases, then net present value will decrease.

So, you would expect the project's net present value to be lower.

How to solve

Initial Investment = $2,915,000

Useful Life = 5 years

Annual Net Cash flows = Annual Net Operating Income + Depreciation

Annual Net Cash flows = $485,000 + $583,000

Annual Net Cash flows = $1,068,000

Answer 8.

Simple Rate of Return = Annual Net Income / Initial Investment

Simple Rate of Return = $485,000 / $2,915,000

Simple Rate of Return = 16.64%

Answer 5.

Present Value of Cash Inflows = $1,068,000 * PVA of $1 (16%, 5)

Present Value of Cash Inflows = $1,068,000 * 3.27429

Present Value of Cash Inflows = $3,496,941.72

Profitability Index = Present Value of Cash Inflows / Initial Investment

Profitability Index = $3,496,941.72 / $2,915,000

Profitability Index = 1.20

Answer 7.

Payback Period = Initial Investment / Annual Net Cash flows

Payback Period = $2,915,000 / $1,068,000

Payback Period = 2.73 years

Answer 9.

If the discount rate increases, then net present value will decrease.

So, you would expect the project's net present value to be lower.

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George H. Ruth takes a leave of absence from his job to work full time for a charity for six months. Ruth fills the position of finance director, a position that normally pays $88,000 per year. Ruth accepts no remuneration for his work. What recording does the charity make

Answers

Answer: a contributed support of $44000 and a expense of $44000.

Explanation:

From the information given in the question, we are informed that Ruth fills the position of finance director, a position that normally pays $88,000 per year.

Therefore, the amount earned for six months will be:

= $88000 × ½

= $44000

Therefore, the recording of the transaction will be a contributed support of $44000 and a expense of $44000.

Discuss the priority of charges whenever a company needs to pay off all of its creditors’ debts

Answers

DONT USE THIS ANSWER SORRY

A period of economic decline that follows the highest point in a business
cycle is called an)
A. expansion
B. contraction
C. peak
D. trough

Answers

A period of economic decline that follows the highest point in a business cycle is called a contraction. Thus the correct answer is B.

What is business?

An economic activity that involves the exchange of goods and services with the help of buying and selling with the objective to gain some profit is called Business.

In the economic, contraction is referred to as a point in business cycle when the economy is on the decline. This is caused due to increase in the rates of interest due to a lack of flow of money which leads to financial crisis or challenges rises due to inflation which leads to an increase in the prices of products and services.

Therefore, option B contraction is appropriate.

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Answer:

B. Contraction

Explanation:

This is the answer you're looking for ;)

The primary goal of market research by entrepreneurs is to:


a) Reduce costs
b) Analyze data
c) Make better decisions
d) None of the above

Answers

The primary goal of the market research by entrepreneurs is to make better decisions.

Market research is referred to as an activity which is undertaken by the entrepreneurs in order to get the required information which is thus about the needs and also the preferences of the consumer who are in their target market.

Market research allows companies in order to understand the demand as well as the viability of their product and in order to see how it might perform in the real world. Thus, market research tends to help the entrepreneur in finding out their rivals in the business.

Hence, option C is correct.

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What is the purpose of consumer-advocacy groups?

to enforce consumer-protection regulations

to lobby the government for lower taxes

to promote the interest of consumers

to provide essential social services​

Answers

To promote the interest of consumers is the purpose of consumer-advocacy groups. Actions performed by people or organizations to advance and defend the interests of the buying public are referred to as consumer advocacy.

Most countries have implemented legislation to safeguard customers against unsafe or subpar craftsmanship, dishonest sales tactics, and deceptive advertising. Consumer advocacy, movements, or laws that protect consumers' interests by regulating the goods, services, practices, and expectations of producers, merchants, and advertising.

Protecting the interests of the consumer or buyer is the goal of consumer advocacy groups. These organizations use a variety of tactics to expose companies that engage in unfair business practices or sell dangerous goods. These tactics include litigation, letter-writing campaigns, boycotts, and public relations. The Consumer Federation of America, which has 220 member groups, is the biggest consumer advocacy organisation in the United States.

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Trade promotions are sales promotion activities that are targeted for manufacturers, wholesalers, and retailers.
true or false

Answers

Answer:

true

Explanation:

i took buissness

Free Cash Flow

100

Growth rate

2%

Tax Rate

1%

Cost of Capital

5%

Debt-to-total value

50%

Given the data in the above, what is the terminal value of the business (using the growing perpetuity formula)?

Answers

Answer:

Explanation:

Terminal value of business Formula = FCF (1+g)/(WACC- g)

Where:

FCF= current free cash flow = 100  

g= Growth rate = 2%  

WACC = Weighted average cost of capital = Cost of capital = 5%

Terminal Value of the business= FCF (1+g)/(WACC- g)

Terminal Value of the business= 100 (1+2%)/(5%- 2%)

Terminal Value of the business= 3,400

Explain the competitive structure of the community

Answers

The competitive structure of the community simply entails how individuals compete with each other for survival.

What is a community structure?

It should be noted that a community structure is the internal structure of a neighborhood or an area.

In this case, the competitive structure of the community simply entails how individuals compete with each other for survival. They also compete for resources.

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when the economy is in a liquidity trap, the federal reserve can use all of these policies to help the economy get out of a recession except:

Answers

When the economy is in liquidity trap, traditional monetary policy tools become less effective because interest rates are already very low and cannot be lowered further to stimulate economic activity.

What is a monetary policy?

Monetary policy is a set of actions taken by a country's central bank to manage the money supply and interest rates in order to achieve specific economic goals. The primary goal of monetary policy is usually to promote price stability, which means keeping inflation within a desired range. To achieve this, central banks use tools such as open market operations, reserve requirements, and discount rates to influence the amount of money in circulation and the cost of borrowing. Changes in monetary policy can affect economic growth, employment, and the value of a country's currency. Central banks regularly adjust monetary policy based on changing economic conditions and the goals of policymakers.

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the impact of monitoring and evaluating quality process on the motor industry

Answers

Impact of monitoring and evaluating quality process on the motor industry is improved product quality and customer satisfaction.

How does monitoring and evaluating quality processes helps?

Monitoring and evaluating quality processes in the motor industry can have a significant impact on product quality and customer satisfaction. By closely monitoring the production process, manufacturers can identify any issues or defects early on and take corrective actions to ensure that the final product meets the desired quality standards.

This can help to reduce the number of defective products and improve customer satisfaction by delivering high-quality products that meet their expectations. So. it also help to identify areas where production can be made more efficient which leads to cost savings and increased profitability.

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Pls help i will give branlyist
Choose a specific administrative support job. Then explain the type of multitasking a person might have to do in that job.

Give an example of a clear subject line for an email and an unclear subject line. Then explain why the clear subject line is better.

Answers

Human Resources is the administrative job that performs multitasking like payroll, hiring, recruitments, maintaining the atmosphere in office and others.

What is Human Resources?

Human resources specialists recruit, interview, and screen job candidates as well as assign newly hired employees to positions. They could also be in charge of training, employee relations, and pay and benefits. Labor relations professionals oversee and evaluate employment contracts.

HR management frequently involves processing payroll, creating job descriptions, developing workplace standards, and buying benefits.

Thus, Human Resources is the administrative job.

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You believe that over the next year the expected return on the market portfolio will yield 11.27%. What is the market risk premium?

Answers

Answer: 9.27%

Explanation:

The first part of the question puts the One-year Treasury bill rate at 2%.

The market risk premium is return that the market is offering over what the risk free rate is.

It is therefore calculated by subtracting the risk free rate from the Expected market return which is:

= Expected return on market - Risk free rate

= 11.27% - 2%

= 9.27%

Life Insurance __________.
A. is designed to help those who are financially dependent on you in the event of your death.
B. is a waste of money
C. is meant to be collected while you are living.
D. is not necessary to have

Answers

The answer is A, is designed to help those who are financially dependent on you in the event of your death.

Which of the following policies would dramatically and permanently reduce government outlays? Choose one or more: A. reducing the cost-of-living increase for Social Security recipients B. reducing welfare payments for every month an unemployed person doesn't find a job C. lowering wages for workers involved in all government construction projects D. reducing the number of overseas military bases E. lowering Medicare and Social Security taxes

Answers

Answer: A. reducing the number of people eligible for Medicare and Medicaid by half

E. raising the age to receive Social Security to 75

Explanation: That’s correct! By raising the age to receive Social Security to 75 and reducing the number of people eligible for Medicare and Medicaid by half, the government would dramatically and permanently reduce its outlays because these are mandatory payments.

The policy that can be followed so that the government outlays can be reduced permanently is A:  reducing the cost-of-living increase for Social Security recipients.

An outlay can be regarded as a payment, it can be explained as payments by the federal government which is been tracked back to congressionally setting up an appropriations accounts.

It is a payment for liquidation of an obligation , and different from repayment of debt principal. Option A explained how this outlay by government can be reduced.

Therefore, option A is correct.

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