Steuben Company produces dog houses. During the current year, Steuben Company incurred the following costs:
Rent on manufacturing facility $ 118,000 Office manager's salary 67,000 Wages of factory machine operators 47,000 Depreciation on manufacturing equipment 17,000 Insurance and taxes on selling and administrative offices 7,000 Direct materials purchased and used 77,000 Based on the above information, the amount of period costs shown on Steuben's income statement is:
I know the answer is $74,000 but can anybody explain why?
Answers
The amount of period costs shown on Steuben's income statement is $74,000.
Given that, Rent on the manufacturing facility is $ 118,000; the Office manager's salary is 67,000; the Wages of factory machine operators are 47,000; Depreciation on manufacturing equipment is 17,000; Insurance and taxes on selling and administrative offices is 7,000 and Direct materials purchased and used is 77,000.
Period costs are expenses incurred on non-manufacturing-related activities. The following is a breakdown of the period's costs: Office manager wage + insurance and taxes on selling and administrative offices = 67,000 + 7,000 = $74,000.
Period costs are expenditures that can't be capitalized on a business's balance sheet. They appear on the income statement and are, in other words, expensed in the period in which they are incurred. They are also known as period expenses.
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Related Questions
Which of the following is an argument against increasing social responsibility?
Answers
Answer:
What are the answers?
Explanation:
There is no picture. Maybe remake this question with a picture with the answers shown.
How long should a résumé be
Answers
Answer:
Mark Brainliest
Explanation:
For most candidates, a resume should be only one page. Be brief and concise with anything you write on your resume. Customize your resume for the job you're applying for and include only relevant experience. If you've done everything right, you shouldn't get past one page
Give an oral presentation of 5 minutes in which you explain the different types of shares
Answers
Shares refer to a unit of ownership in a company, also known as stocks. The shares are purchased by investors, and the amount of shares an investor buys is proportional to the percentage of ownership in the company. There are two primary types of shares, which are Ordinary shares and Preference shares.
Ordinary shares Ordinary shares are the most common types of shares that companies offer. Owners of these shares have voting rights at the company's general meetings, and they get a proportion of the company's profits in the form of dividends. The shareholders are typically last in line in the event of bankruptcy, and they receive the least priority in payment.
Preference shares Preference shares are those shares that offer preference over the ordinary shares in terms of dividend payments. The preference shareholders receive dividends before the ordinary shareholders. Preference shares have two categories: cumulative preference shares and non-cumulative preference shares. Cumulative preference shareholders receive their unpaid dividends before the ordinary shareholders, and non-cumulative preference shareholders don't receive their unpaid dividends if the company isn't making any profits. Preference shareholders don't have voting rights in most cases, but they do get the advantage of receiving dividends before the ordinary shareholders.
In conclusion, understanding the different types of shares is vital for investors to make informed investment decisions. By knowing what each type of share entails, investors can choose the right type of share that suits their investment goals.
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Martin Company expects to have a cash balance of $135,000 on January 1, 2017. Relevant
monthly budget data for the first 2 months of 2017 are as follows:
• Collections from customers: January $246,500, February $435,000.
• Payments for direct materials: January $155,000, February $240,000
• Direct labor: January $90,000, February $135,000. Wages are paid in the month they
are incurred.
• Manufacturing overhead: January $63,000, February $75,000. These costs include
depreciation of $5,000 per month. All other overhead costs are paid as incurred.
• Selling and administrative expenses: January $45,000, February $60,000. These costs
are exclusive of depreciation. They are paid as incurred.
• Sales of marketable securities in January are expected to realize $36,000 in cash.
Martin Company has a line of credit at the local bank that enables it to borrow up to
$75,000. The company wants to maintain a minimum monthly cash balance of $60,000.
Instructions
(a) Prepare a cash budget for January and February.
(b) Martin Company’s chief financial officer feels that it is important to have data for the
entire quarter especially since their financial forecasts indicate some difficult economic
periods in the coming year. March information has been budgeted as follows:
• Collections from customers: $375,000
• Payments for direct materials: $206,000
• Direct labor: Wages paid in March $116,000
• Manufacturing overhead: $64,500. This includes the monthly depreciation of
$5,000.
• Selling and administrative expenses: $51,600. This cost is exclusive of
depreciation.
• Marketable securities of $50,000 can be sold if needed for additional cash.
(1) Prepare a cash budget for March assuming that the company does not sell the
marketable securities.
(2) What is the maximum amount the company can borrow during March? Does this
provide the company with an adequate ending cash balance?
(3) How much does the company need to borrow if the marketable securities are sold?
(4) Comment on the status of the company’s cash budget for March.
Answers
(a) The prepared Cash Budget for January and February are:
January:
Beginning cash balance: $135,000Collections from customers: $246,500Payments for direct materials: $(155,000)Direct labor: $(90,000)Manufacturing overhead: $(63,000)Selling and administrative expenses: $(45,000)Sales of marketable securities: $36,000Ending cash balance: $194,500February:
Beginning cash balance: $194,500Collections from customers: $435,000Payments for direct materials: $(240,000)Direct labor: $(135,000)Manufacturing overhead: $(75,000)Selling and administrative expenses: $(60,000)Ending cash balance: $269,500(b)
(1) March Cash Budget (assuming no sale of marketable securities)
Beginning cash balance: $269,500Collections from customers: $375,000Payments for direct materials: $(206,000)Direct labor: $(116,000)Manufacturing overhead: $(64,500)Selling and administrative expenses: $(51,600)Ending cash balance: $166,400(2) The maximum amount the company can borrow during March is $75,000
(3)The amount the company need to borrow if the marketable securities are sold is $5,600
(4) My Comment on the status of the company’s cash budget for March is that The company's cash budget for March is not adequate as the ending cash balance is less than the minimum desired balance of $60,000 even if the company sells the marketable securities.
What is the cash budget?(2) The company can borrow up to $75,000 from the bank. The ending cash balance is $166,400, which is less than the minimum desired balance of $60,000. Therefore, the company needs to borrow more money.
(3) If the marketable securities are sold, the company will have additional cash of $50,000. So, the company needs to borrow $5,600 ($60,000 - $50,000 - $166,400)
(4) The company needs to borrow money from the bank in order to have an adequate cash balance. Depending on the interest rate and the terms of the loan, it's important for the company to assess the costs and benefits of borrowing. It may be beneficial for the company to look for other ways to increase cash balance such as by increasing revenues, cutting costs, or finding alternative sources of financing.
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What are the important differences between a "capitalist - free market" economy and a "socialist" economy? Which do you prefer for the U.S. and why?
Use personal examples to show me you understand the two economic types. Use information from the text to show me you have read and understand the concepts explained in the text.
Remember to use at least 2 paragraphs, preferably 3. A paragraph is more than two sentences. Think about this! It's okay to give me more than 3 paragraphs if you enjoy the subject.
Use at least two citations to back up your opinion. THE FIRST citation must be from the textbook NOT THE INTERNET! Show me that you read and understood the textbook. The citation can be simple. Use "quotations" around any quoted or PARAPHRASED information and place a number after the citation in parentheses. (1)
At the bottom of your text place a corresponding citation after the number in parentheses (1) showing the book and page number or URL used for the citation. Cite the textbook First before using the internet for material.
Textbook citations can be simple: (1) Understanding Business ed.13, pg. 101
Use the complete URL if using information from the internet as a secondary source: (2) https://www.forbes.com/sites/forbestechcouncil/2021/07/27/a-lesson-from-japan-real-change-is-emotional/?sh=5beb6dc9338f
Answers
Socialism relies on central planning and limits on private resource ownership, whereas capitalism is based on individual initiative and favors market forces over the intervention of the state. When given free rein, economies usually combine elements from the two systems.
Which is more capitalist or socialist in US economic policy?In the United States, capitalism has always been the dominant economic system. It is defined as an economic structure in which private parties, as opposed to the state, own and control the labor force, capital assets, and raw materials used in manufacturing.
It has increased access to education, gradually increased the value of labor, and enabled a level of economic mobility that was previously impossible. The ordinary modern person nonetheless has a far superior quality of life than their forebears from earlier times, while working significantly fewer hours and in significantly better surroundings.
Central components of a free market economy, such as private property, unrestricted foreign trade, the free interchange of goods, and the free determination of prices, are present in the social market. In contrast to what happens in a free market economy, the state takes an active role in enforcing regulations.
The labor force, raw materials, and capital goods are under the control of private enterprises in a capitalist economy. The government controls the labor force, the raw materials, and the capital goods in a socialist economy
In the US, capitalism is the dominant economic system. A market economy exists there. People, not the government, own the majority of enterprises in a capitalist society. Businesses in the US choose what products to market.
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Question 7 of 10
Yuki is setting up a display in the hardware store where he works. What does
this activity most likely involve?
A. Stacking cartons of merchandise in a safe location
B. Arranging items on shelves at eye level
C. Sorting nuts and bolts from smallest to largest
D. Creating a special exhibit of featured products
Answers
Answer:
D. Creating a special exhibit of featured products
Explanation:
Just did a quiz. a pex
Yuki is setting up a display in the hardware store where he works. Creating a special exhibit of featured products this activity most likely involves. The correct option is D.
What is the importance of an exhibition?Exhibitions and events are effective marketing strategies. They provide you a chance to advertise your goods or services to an audience that may be unfamiliar with you or your business. Additionally, they provide a chance to network with both current and new clients. Continue reading to learn about more advantages of exhibitions.
Your product displays play a crucial role in attracting customers. You can easily draw customers in and emphasize your product's standout characteristics with a well-designed POP display. One risk of shopping is being lost in the sea of merchandise.
Thus, the ideal selection is option D.
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A “new product" can be new to the world, to the market, to the producer or seller, or some combination of these.
True or False
Answers
In this assignment, you will develop a more personalized understanding of the Balanced Scorecard concept and see how your vision and mission can be linked to your goals and objectives. Using the S-M-A-R-T tools in section 6.7 of Chapter 6 in the text, create your own list of goals and objectives.
Create 4 to 5 S-M-A-R-T goals and objectives and demonstrate how they link to your Strategy Diamond and personal vision and mission statements.
Answers
Explanation:
The following are my SMART goals:-
Specific
1. I want to be physically fit within 6 months on order to be able to run a marathon in less than 3 hours.
2. I want to become a manager in my current organization from my current position as an assistant manager within the next 3 years in order to be able lead a team.
3. I want to be a lovable dad to my daughter in the next 3 months so that I can spend more quality time with her.
4. I want to become an amazing husband to my wife by spending more quality time with her and also taking her on vacations in the next 6 months.
Measurable
1. I would start my training from next week. Initially I would run 3 to 5 kilometers with walk breaks.
2. I would talk to my boss next week to ask for more responsibilities and also to ask him to let me know what is required to get promoted.
3. I would start leaving office early by being more efficient and effective in the office. I will also take my daughter on walks and play with her for 1 hour daily.
4. I would come back from office early and spend time with my wife.
Attainable
1. I will talk to other marathoners to know whether my goal is attainable and will also research about it.
2. I will talk to my colleagues whom are managers about what they did to get promoted.
3. I will talk to other dads to know whether my goal is attainable.
4. I will talk to other husbands that are successful.
Realistic
When I start measuring my progress weekly and getting a feedback from people whom I admire, then I would know how realistic my goals are.
Timely
I have given a time frame for the attainment of all these goals which is very vital.
For implementing these goals, I m going to use the Plan-Do-Act-Dare cycle.
Since my objective is to become a well rounded person in my personal and also my professional life, the above steps will surely help me in becoming that person.
The strategy diamond will consist of:-
1. Arenas- Professional and Personal
2. Vehicles- Focus and hard work
3. Differentiation- Being different and unique from others.
4. Staging- Speed of initiatives
Also, there should be an economic logic binding this.
P&G
Item
17
English
You were recently hired by the finance department. You have training and experience in finance, but you also have
an advanced degree in communications.
You enjoy both, but would love the opportunity to combine them together
at some point. During this week's team meeting, you hear of a project that you feel is directly applicable to your
unique experience and education. However, your supervisor assigned that project to a coworker and asked you to
work on a more conventional finance task.
What would you do?
Approach your coworker and offer your knowledge and experience. Let them know you are
willing to help them on the project if they wants it.
Approach your supervisor to let them know that you feel your skill set is more suited for the non-
conventional task and you are being underutilized on the finance task.
<
Complete your conventional finance task as quickly and accurately as you can. Then, ask If you
can be assigned to the other project.
Work on the project you were assigned. Recognize that your supervisor is likely trying to
familiarize you with the department by working on the finance task and you should trust their
guidance.
Talk to your supervisor and offer to work on both tasks. You don't mind putting in extra time to
do something you enjoy and you'll provide value to both projects.
Ann
Answers
The best thing to do in this case is to recognize that your supervisor is likely trying to familiarize you with the department by working on the finance task and you should trust their guidance.
It should be noted that in an organization, it's important for one to listen to one's supervisor. Therefore, the person should not approach the supervisor to let him know that his or her skill set is more suited for the non-conventional task.
The opinion of the supervisor should be respected. It's important to recognize that the supervisor wants to familiarize the employee with the department.
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Advocates of small businesses often argue that they should receive special tax treatment. Assume that small businesses had to pay only half the Social Security tax that is imposed on large corporations. What effect would that have on production efficiency?
Answers
The effect that the tax will have on production efficiency is that it will lead to more production and revenue.
What is a tax?It should be noted that a tax simply means a compulsory levy that's imposed on the citizens and businesses by the government.
In this case, the effect that the tax will have on production efficiency is that it will lead to more production and an increase in revenue.
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Analyze various methods of conducting Internet research.
1. Magda is on a wellness committee at her company. As a member of the committee, she is planning to give a presentation to her coworkers about the flu in
preparation for the upcoming cold and flu season. She wants to do some research on the history, diagnosis, and treatment of the flu.
a) Help her identify some effective keyword and Boolean search strategies by filling out the table below. (5 points)
Strategy What It Does Example
Quotation Marks
“flu vaccines”
Plus sign ( + )
flu+vaccine+history
Pipe symbol (|)
flu vaccine|antibiotics
OR
flu vaccine OR antibiotics
NOT
flu vaccine NOT availability
b) Magda was able to find the following sources when she searched "flu diagnosis" using her favorite search engine: Help her determine whether these sources are accurate, relevant, and valid by filling out the table below. (9 points)
Accurate? Relevant? Valid?
First website
Second website
Third website
Synthesize (16 points)
Apply methods of effective Internet search strategies.
Use your favorite search engine to research one of topics below.
• Renewable energy
• The Ebola virus
• The Human Genome Project
1. List the keywords you typed in to your search engine. Then list the first three results. (3 points)
2. Now, use a different search engine and type in the same keyword. Did you get the same results as your first search? List the first three results from this search. (3 points)
3. You would like to narrow your search on this topic.
a) You want to look for information on this topic's history, but you don't want to include any information that pre-dates 1975. What Boolean operator would you use? (2 points)
b) You want to look up information on this topic as it relates to the U.S. government. What Boolean operator would you use? (2 points)
4. From all of your cumulative search results, list three reliable sources that you've found.
a) Cite these sources in MLA format. (3 points)
b) How can you confirm that these sites provide information that is accurate, relevant, and valid? (3 points)
Answers
An effective Boolean search strategy that Magda should adopt is the use of Boolean operators and emboldened keywords.
What is an Internet research?An Internet research can be defined as a reearch methodology that involves the use of information that obtained from the World Wide Web (WWW) to investigate, analyze and reach a logical conclusion on a subject matter (topic).
The various methods of conducting Internet research.Generally, there are different methods used by researchers to conduct an Internet research and these include:
Cyber-ethnography.Social network analysis.Online content analysis.Web-based experiments.Online interviews.Online questionnaires.Online qualitative research.In conclusion, an effective Boolean search strategy that Magda should adopt is the use of Boolean operators such as "Or" and "AND" so as to broaden the search results about flu.
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Consider total cost and total revenue, given in the following table:
In the final column, enter profit for each quantity. (Note: If the firm suffers a loss, enter a negative number in the appropriate cell.)
Total Cost Marginal Cost
(Dollars)
Quantity (Dollars)
0
1
2
3
4
5
6
7
5
6
8
11
15
20
26
35
05
06
07
Total Revenue Marginal Revenue
(Dollars)
(Dollars)
0
6
12
18
24
30
36
42
AAAAAAA
Profit
(Dollars)
In order to maximize profit, how many units should the firm produce? Check all that apply.
04
Answers
The solution to the given question when we consider total cost and total revenue, given in the following table:
The Financial TableQuantity | Total Cost | Marginal Cost | Total Revenue | Marginal Revenue | Profit
------- | -------- | -------- | -------- | -------- | --------
0 | 5 | 5 | 0 | 0 | -5
1 | 11 | 6 | 6 | 6 | 1
2 | 17 | 6 | 12 | 6 | 5
3 | 24 | 7 | 18 | 6 | 4
4 | 31 | 8 | 24 | 6 | -7
5 | 39 | 8 | 30 | 6 | -9
6 | 47 | 8 | 36 | 6 | -11
7 | 55 | 8 | 42 | 6 | -13
As you can see, the firm's profit is maximized at quantity 3. This is because the marginal revenue is equal to zero at this point, which means that the firm is not making any additional profit by producing more units. In fact, if the firm produces more units, it will actually start to lose money.
Therefore, the answer to the question is 3.
In summary:
The firm's profit is maximized at quantity 3.This is because the marginal revenue is equal to zero at this point.If the firm produces more units, it will start to lose money.Therefore, the answer to the question is 3.Read more about marginal revenue here:
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THESE ARE TRUE OR FALSE!! PLEASE HELP ASAP!! WILL MARK BRAINLIEST!!
1. Economic growth refers to a steady increase in the production of goods and services in an
economic system.
2. There are over 120 million workers in the U.S. economy.
3. The total dollar value of all final goods and services produced in a country during one year
is called the Gross Domestic Product (GDP).
4. The GDP in our economy has declined steadily for the past few years.
5. The base year used in comparing GDPs adds confusion to the comparison.
6. GDP per capita is found by dividing total GDP by the total work force.
7. Both worker training and management techniques have helped improve our productivity.
8. Changes in the business cycle form a pattern of good times to bad times and back.
9. When the economy slows down, it enters a phase of the business cycle known as recession.
10. Recovery in the business cycle occurs after a period of inflation.
Answers
Answer:
hi
Explanation:
1. True
2. True
3. True
4. False
5. False
6. False
7. False
8. True (not sure)
9. True
10. False
Have a good day!
If you think a task is boring, you should avoid it.
Please select the best answer from the choices provided
True
False
Answers
False
Do not give up on a task just because it doesn't interests you
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Answer:
Is False
explanation ajsdasd
Why do you
think it's easier to forget entrepreneurship than labor or capital?
Answers
Entrepreneurship is much less tangible than other factors of production capital, that is why it's far more hard to discover.
Entrepreneurship is the assignment of latest business ventures that could eventually become profitable agencies. Some economists identify entrepreneurship as a factor of production due to the fact it is able to boom the effective performance of a company. Land refers to herbal resources, exertions refers to work attempt, and capital is anything made that is used to make something else. The final aid, entrepreneurship, refers to the capability to place the opposite 3 sources together to create capital.
Labor refers to all salary-incomes activities, including the work of specialists, retail workers, and so forth. Entrepreneurship refers back to the projects taken by way of entrepreneurs, who commonly begin as the first people in their firms after which regularly appoint different elements of production to grow their organizations.
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Explain what the long- and short-term consequences are of not promoting equality or working to reduce poverty.
Answers
Answer:
The long and short-term consequences of not promoting equality or working to reduce poverty are:
1. the poverty gap widens, causing many more of the population to become poor while a few become richer.
2. extreme poverty becomes the norm, thereby hampering societal progress.
3. discrimination and social classes become oppressive.
Explanation:
Economic equality describes a situation that ensures that every individual in a society has an equal economic opportunity to make the most of their lives and talents by having some access to resources. Equality reduces discrimination among certain groups of the population, especially those with protected characteristics such as race, disability, sex, and sexual orientation. It ensures the fair distribution of natural resources among the population, according to their individual needs and capacity. It does not mean sameness in social or economic status.
The following are the long and short-term implications of failing to promote equality or act to alleviate poverty:
1. The wealth disparity increases, forcing many more people to fall into poverty while a few get wealthier.
2. Extreme poverty has now become the norm, stifling societal advancement.
3. Social stratification and inequality become oppressive.
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2- Mention (5) problems Created by lack of Tap
Answers
Answer:
Explanation:
The lack of tap water can create several problems, including:
Health risks: The absence of clean tap water may lead to the spread of water-borne diseases. People may be forced to use contaminated water sources, which can cause illnesses such as cholera, typhoid, and dysentery.
Increased financial burden: People who do not have access to tap water may have to spend a significant amount of money on purchasing bottled water or water from tankers. This can increase their financial burden, particularly for those living in poverty.
Difficulty in daily chores: The lack of tap water can make it difficult for people to carry out daily tasks, such as cooking, cleaning, and washing. This can affect their quality of life and productivity.
Impact on education: The lack of tap water can also affect the education of children, particularly girls. They may be required to collect water from distant sources, which can consume a lot of their time and leave little time for studies.
Social inequality: The absence of tap water can deepen social inequality, as people from marginalized communities and rural areas are more likely to be affected. Lack of access to clean water can perpetuate poverty, limit economic opportunities, and exacerbate existing social disparities.
what is the community guidelines for Brainly?
Answers
Answer:
No bulling, no copying from websites, keep personal info private, and you have to be honest
If you wanan know more look up "bra.inly comm.unity gu.idelin.es"
Explanation:
Hope this helped!! :) (ignore the periods)
Question - 4 (4-2003) An industrial product may be manufactured by two methods of production Using Method X, fixed costs are £5,500,000 per period and variable costs are £535 per unit of product. Using Method Y, fixed costs are £8,260,000 per period and variable costs are £420 per unit of product. (a) Calculate the level of output per period for which the total costs are the same for the two methods of production. Produced by Method X the product has unit costs during a period as follows: Components £275 Labour £180 Production overheads £85 Distribution expenses £120 The figures include variable costs and apportioned fixed costs. (b)Calculate the number of units produced in the period. (c) Compare the total costs of Methods X and Y at the level of output in (b) above.
Answers
Code snippet
Total cost of Method X = Total cost of Method Y
(5,500,000 + 535x) = (8,260,000 + 420y)
535x = 8,260,000 - 5,500,000
535x = 2,760,000
x = 5,144
Therefore, the level of output per period for which the total costs are the same for the two methods of production is 5,144 units.
(b) The number of units produced in the period is given as 5,144 units.
(c) The total costs of Methods X and Y at the level of output in (b) above are as follows:
Code snippet
Method X:
Total cost = (5,500,000 + 535 * 5,144) = £29,078,440
Method Y:
Total cost = (8,260,000 + 420 * 5,144) = £34,055,680
As you can see, the total cost of Method X is lower than the total cost of Method Y at the level of output in (b) above. This is because Method X has lower variable costs than Method Y.
The financial statements of Burnaby Mountain Trading Company are shown below.
Income Statement 2017
Sales $ 7,000,000 Cost of Goods Sold 5,000,000 Gross Profit $ 2,000,000 Selling and Administrative Expenses 1,700,000 EBIT $ 300,000 Interest Expense 50,000 Income before Tax $ 250,000 Taxes 100,000 Net Income $ 150,000 Burnaby Mountain Trading Company
Comparative Balance Sheets
2017 2016
Cash $ 90,000 $ 80,000 Accounts Receivable 810,000 800,000 Inventory 800,000 720,000 Total Current Assets 1,700,000 1,600,000 Fixed Assets 2,600,000 2,400,000 Total Assets $ 4,300,000 4,000,000 Accounts Payable $500,000 400,000 Bank Loans 100,000 100,000 Total Current Liabilities 600,000 500,000 Long-term Bonds 400,000 300,000 Total Liabilities $ 1,000,000 $800,000 Common Stock (200,000 shares) 500,000 500,000 Retainded Earnings 2,800,000 2,700,000 Total Equity $ 3,300,000 3,200,000 Total Liabilities and Equity 4,300,000 4,000,000 Note: The common shares are trading in the stock market for $27 each.
Refer to the financial statements of Burnaby Mountain Trading Company. The firm's P/E ratio for 2017 is _________.
Answers
Based on the financial information of Burnaby Mountain Trading Company, the P/E ratio for 2017 is $36.
What is the P/E Ratio for Burnaby in 2017?First find the earnings per share:
= Net income / Number of shares at end of 2017
= 150,000 / 200,000
= $0.75
Then find the P/E ratio:
= Market value per share / Earnings per share
= 27 / 0.75
= $36
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Fabri Corporation is considering eliminating a department that has an annual contribution margin of $37,000 and $74,000 in annual fixed costs. Of the fixed costs, $18,500 cannot be avoided. The annual financial advantage (disadvantage) for the company of eliminating this department would be:
Answers
Answer:
the annual financial advantage (disadvantage) for the company of eliminating this department is $18,500
Explanation:
the computation of the annual financial advantage (disadvantage) for the company of eliminating this department is as follows:
Annual financial Advantage (disadvantage) = $37000 - ($74000 - $18500)
= $37000 - $55,500
= $18,500
Hence, the annual financial advantage (disadvantage) for the company of eliminating this department is $18,500
what do you understand by marketing mix
Answers
Explanation:
When I think about the term marketing mix, I think about a set of tools that firms use to increase their profits such as price, product, promotion and place.
a company bought a new machine for its warehouse on january 1. whats the book value of the new machine on december 31. paid $10,000 in cash. financed the rest of the purchase price
Answers
It can be noted that the book value of the machinery by December 31 is $36000.
How to calculate the book valueFrom the complete information, the purchase price of the machinery will be:
= $10000 + $2000 + $30000
= $42000
Annual depreciation will be;
= $500 × $12
= $6000
Therefore, the book value will be:
= $42000 - $6000
= $36000
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The book value of the new machine on December 31 of the first year is $45,000.
What is book value?The book value of an asset is the purchase cost less the accumulated depreciation.
Assume that the asset was purchased for $50,000 on January 1, and depreciation is at 10% per year.
Data and Calculations:
Cost of asset = $50,000
Depreciation rate = 10%
Depreciation expense = $5,000 ($50,000 x 10%)
Book value on December 31 = $45,000 ($50,000 - $5,000)
Thus, the book value of the new machine on December 31 of the first year is $45,000.
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select a business from any of three business sectors
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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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Clear delivery is accomplished through:
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Clear delivery is accomplished through A. Planning and preparation
How to accomplish clear delivery ?Before you deliver your message, take the time to plan and prepare. This includes knowing your audience, understanding your message, and practicing your delivery.
This is because clear delivery is impossible without a clear understanding of your audience, your message, and how you will deliver it. By taking the time to plan and prepare, you can increase your chances of delivering your message clearly and effectively.
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Options for this question include:
Planning and preparation
Reading from a script
Speaking too quickly
Overusing gestures
Determine cost of goods sold for X-mart, assuming that beginning inventory was $5,000. Net purchases were $20,000 and ending inventory was $9,000. Multiple choice question. $16,000 $24,000 $20,000 $6,000 g
Answers
Answer:
$16,000
Explanation:
Beginning inventory is $5,000
Net purchases is $20,000
Ending inventory is $9,000
Therefore the cost of goods sold can be calculated as follows
= (5,000+20,000)-9,000
= 25,000-9,000
= 16,000
Hence the cost of goods sold is $16,000
The following time series data show the number of lightning strikes in a particular county for the most recent seven months.
Month 1 2 3 4 5 6 7
Value 26 15 22 14 21 25 17
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The time series plot of the provided data displays the quantity of lightning strikes in a specific county over a period of seven months. Because its MSE is lower than the MSE using the most recent value, the average of all prior values offers a superior forecast.
It appears to follow a seasonal trend based on the pattern seen in the data. This is evident from the values' variation over time, which exhibits a cycle or recurring pattern.
We must series plot the MSE values to see whether strategy produces the best forecast. The MSE value of the most recent value approach is lower (42.15) than that of the average technique (84.44), indicating a more accurate forecast. Therefore, a better forecast is given by the most recent value.
As a result, the significance of the time series data show the number of lightning strikes in a particular county for the most recent seven months are the aforementioned.
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Q1. A. Briefly explain the following accounting concepts and principles.
(i)Going concern concept
(1)Business entity concept
(iii) Accrual concept
(lv) Duality concept
(V)Money measurement concept
(vi) Historical cost concept
(vii)Prudence concept
(viii)Materiality concept
(viii) Periodicity concept
(ix)Consistency concept
(x) Substance over form concept
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Here's a brief explanation of each of the accounting concepts and principles listed:
1. Going-concern theory: According to this theory, a company will continue to run indefinitely without being obliged to close its doors or sell off its assets anytime soon. It has an impact on how assets and liabilities are evaluated and reported, thus it is crucial to take into account while creating financial statements.
2. Business entity concept: According to this notion, a business is a distinct legal entity from its owners, and as such, its financial transactions ought to be documented separately from those of those parties or of any other entities.
3. Accrual idea: According to this concept, regardless of when payment is actually received or made, revenue and costs must be recorded in the accounting period in which they are earned or spent.
4. The duality principle: According to this principle, every financial transaction contains both a debit and a credit. These two elements must have equal worth and be diametrically opposed.
5. Money measurement concept: According to this theory, financial accounts should only contain transactions that can be described in monetary terms.
6. Historical cost concept: Under this concept, assets and obligations must be documented at the price they originally paid, not their current market value.
7. Prudence concept: This concept demands accountants to use caution and discretion when making estimates and judgements in financial reporting in order to avoid overstating assets or income or understating liabilities or expenses.
8. Materiality idea: According to this notion, financial statements should only include information that is material, or significant enough to affect the decisions of statement users.
9. Periodicity Concept: The idea of periodicity requires financial statements to be prepared at regular intervals, for as monthly, quarterly, or annually.
10. Consistency concept: This concept states that in order to preserve the comparability of financial accounts, accounting processes and procedures must remain constant over time.
11. Substance over form concept: The substance over form notion states that transactions should be recorded based on their economic substance rather than their legal form. By doing this, even when a transaction's legal framework is complicated or odd, financial statements are guaranteed to accurately reflect a company's economic reality.
patents can slow down the rate of creative destruction by multiple choice 2 eliminating the threat of competition and increasing patent revenues for companies, which slows down creative destruction. destroying the profit incentive that encourages innovation, thereby slowing the rate of creative destruction. restricting the use of technology so that creativity is controlled. creating certainty for the patent holder so that innovation is encouraged.
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Patents can slow down the rate of creative destruction means replacing an old technology by new one.
A patent is an unique proper granted for an invention, which is a product or a manner that offers, in preferred, a brand new manner of doing something, or offers a new technical approach to a problem. To get a patent, technical information approximately the invention must be disclosed to the public in a patent application.
A patent is a form of highbrow assets that offers its proprietor the criminal right to exclude others from making, using, or promoting an invention for a restricted period of time in exchange for publishing an enabling disclosure of the discovery.
There are three forms of patents - utility, design, and Plant. application patents can be granted to everybody who invents or discovers any new and beneficial system, gadget, article of manufacture, or compositions of subjects, or any new beneficial development thereof.
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Understanding Relationships between Overhead Variances, Budgeted Amounts, and Actual Units Produced and Direct Labor Hours Worked Last year, Gladner Company had planned to produce 140,000 units. However, 143,000 units were actually produced. The company uses direct labor hours to assign overhead to products. Each unit requires 0.9 standard hour of labor for completion. The fixed overhead rate was $11 per direct labor hour, and the variable overhead rate was $6.36 per direct labor hour. The following variances were computed:
Fixed overhead spending variance $24,000 U
Variable overhead spending variance $9,196 U
Fixed overhead volume variance 29,700 F
Variable overhead efficiency variance 1,272 U
Required:
1. Calculate the total applied fixed overhead.
2. Calculate the budgeted fixed overhead.
3. Calculate the actual fixed overhead.
4. Calculate the total applied variable overhead.
5. Calculate the number of actual direct labor hours.
6. Calculate the actual variable overhead.
Answers
Answer:
Explanation:
1) Fixed Overhead applied = Actual unit produced * Standard hour * Direct labor hour
Fixed Overhead applied = 143,000 * 0.9 * $11
Fixed Overhead applied = $1,415,700
2) Budgeted fixed overhead = 140,000 * 0 .9 * $11
Budgeted fixed overhead = $1,386,000
3) Actual fixed overhead = Spending variance + Budgeted overhead
Actual fixed overhead = $24,000 + $1,386,000
Actual fixed overhead = $1,410,000
4) Applied variable overhead = 143000*0.9*$6.36
Applied variable overhead = $818,532
5) Variable efficiency variance = (AH*SR) - (SH*SR)
1272 = (AH * 6.36) - 818,532
1272 + 818,532 = AH *6.36
AH = 819804/ 6.36
Actual hours = 128,900 hours
6) Variable spending variance = AH*(AR -SR)
9196 = 128,900( AR - 6.36)
9196 /128,900 = AR - 6.36
0.07134 = AR - 6.36
AR = 0.07134 + 6.36
AR = $6.43 per labor hour
Actual overhead = $6.43 * 128,900
Actual overhead= $828,827
1.
Total fixed Overhead applied is
= 143000 × .9 × 11
= $ 1,415,700
2.
Budgeted fixed overhead is
= 140,000 × .9 × 11
= $ 1,386,000
3.
The actual fixed overhead is
= Spending variance + Budgeted overhead
= $24000 + $ 1,386,000
= $ 1,410,000
4.
The total applied variable overhead is
= 143000 × .9 × 6.36
= $818,532
5.
The variable efficiency variance = (Actual hours × Standard rate) - (Standard hours × Standard rate)
1272 = (Actual hours × 6.36 ) - 818,532
1272 +818,532 = Actual hours × 6.36
Actual hours = 819804÷ 6.36
= 128,900 hours
6.
The actual variable spending variance = Actual Hours(Actual rate -Standard rate)
9196 = 128,900(Actual rate - 6.36)
9196 ÷ 128,900 = Actual rate - 6.36
0.07134 = Actual rate - 6.36
Actual rate = 0.07134 + 6.36
= 6.43 Per labor hour
Now
Actual overhead = 6.43 × 128,900
= $828,827
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