The T-account showing the manufacturing overhead activity for Alfred Corp. for 2020 shows a debit of $195,000 and a credit of $203,000. When answering the three questions below, enter your answer using only numeric amounts (unless otherwise directed), rounded to the nearest dollar (no dollar signs and no commas). What is the actual manufacturing overhead
Answers
Answer: $195000
Explanation:
The actual manufacturing overhead refers to the true costs which are incurred during production and this include factory supplies used, indirect materials, insurance, depreciation, factory taxes, etc.
Here, the debit of $195,000 is the actual manufacturing overhead while the credit of $203000 is the allocated manufacturing overhead.
Related Questions
What type of information is NOT found on a consumer's credit report?
A)
bankruptcies or tax liens
B)
employment history
C)
current and past addresses
D)
personal medical information
Answers
The Reynolds Company buys from its suppliers on terms of 4/10, net 64. Reynolds has not been utilizing the discount offered and has
been taking 76 days to pay its bills. The suppliers seem to accept this payment pattern, and Reynold's credit rating has not been hurt.
Mr. Duke, Reynolds Company's vice-president, has suggested that the company begin to take the discount offered. Mr. Duke proposes
the company borrow from its bank at a stated rate of 18 percent. The bank requires a 12 percent compensating balance on these
loans. Current account balances would not be available to meet any of this required compensating balance.
Calculate the cost of not taking a cash discount. (Use 365 days in a year. Do not round intermediate calculations. Round the final
answer to 2 decimal places.)
Cost of not taking a cash discount
Answers
Answer: 23.04%
Explanation:
Based on the information given in the question, the cost of not taking a cash discount will be calculated as:
= D/(1-D) × (360/n)
where D = Discount rate
n = number of days after the discounted period
= D/(1-D) × (360/n)
= 4%/(1 - 4%) × [365/(76-10)]
= 4%/96% × (365/66)
= 0.0416667 × 5.530303
= 0.2304295
= 23.04%
the 4P’s include____
Answers
Answer:
price,product, promotion,place
Name 4 main parts of a business plan.
Answers
Breakdown of Your Products and Services.
Marketing Plan.
Sales Strategy.
Marketing plan
Key management bios
Financial plan
Wesley and Victor have been dating for the past 6 months. A few weeks ago, Victor told Wesley he was no longer interested in him romantically. Crushed, Wesley continues to try to win Victor back. He often hangs around Victor’s desk, brings up past arguments they have had, and asks to meet with him after work. If his behavior continues, his behavior could become:
Answers
Answer:
depression or maybe social anxiety?
Explanation:
Given that Victor has told Wesley that he is no longer interested romantically, if he continues to try to hang around him and bringing up arguments his behavior could become annoying and obsessive.
What is obsessive behavior?These are the behaviors that makes people to behave in compulsive and also repetitive ways.
This behavior is here because Victor has already broken up with Wesley but Wesley still carries on like they are in a relationship.
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How to become a firefighter. I want to become one.
Answers
Answer:
-valid driver's license
- 18 years old or more (for younger than 18 you can look into limited involvement as a junior firefighter.)
- At least a high school diploma or GED.
- pass the physical ability test.
- Pass the written exam
- pass the interview
-You’ll still need to attend a department’s academy once hired
(may be differnt depending on your state, country, etc)
<3
Which feature is a point of differentiation between products and services
Answers
Answer:
Products are tangible, offered by the companies to the customers in exchange for money.
Services are the intangible economic product that is provided by a person on the other person’s demand. It is an activity carried out for someone else.
Explanation:
Describe business ethics. Provide an example to show the role they play in the workplace.
Answers
Answer :
Business ethics is the study of appropriate business policies and practices regarding potentially controversial subjects including corporate governance, insider trading, bribery, discrimination, corporate social responsibility, and fiduciary responsibilities.
Business ethics enhances the law by outlining acceptable behaviors beyond government control. Corporations establish business ethics to promote integrity among their employees and gain trust from key stakeholders, such as investors and consumers. While corporate ethics programs have become common, the quality varies.
Hiring for fit, providing quality onboarding, and offering great benefits are ways that companies can
Multiple Choice
decrease turnover.
decrease job performance.
increase counterproductive work behaviors.
increase explicit bias.
Answers
Hiring for fit, providing quality onboarding, and offering great benefits are ways that companies can decrease turnover.
What does onboarding provide as a means for?The process of onboarding helps new hires develop the abilities, attitudes, and habits necessary to contribute positively to a company. Onboarding initiatives are intended to help people adjust to new roles after being hired or promoted from inside.
Describe onboarding.The procedures used to incorporate new hires into the company are referred to as "onboarding." It contains exercises that enable brand-new hires to finish the new hire orientation process and learn about the company's structure, culture, vision, mission, and values.
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Calculating the Direct Materials Price Variance and the Direct Materials Usage Variance Guillermo's Oil and Lube Company is a service company that offers oil changes and lubrication for automobiles and light trucks. On average, Guillermo has found that a typical oil change takes 24 minutes and 6.2 quarts of oil are used. In June, Guillermo's Oil and Lube had 980 oil changes. Guillermo's Oil and Lube Company provided the following information for the production of oil changes during the month of June:
Actual number of oil changes performed: 980
Actual number of quarts of oil used: 6,020 quarts
Actual price paid per quart of oil: $5.10
Standard price per quart of oil: $5.05
Required:
a. Calculate the direct materials price variance (MPV) and the direct materials usage variance (MUV) for June using the formula approach.
b. Calculate the total direct materials variance for oil for June.
Answers
Answer:
Results are below.
Explanation:
To calculate the direct material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (5.05 - 5.1)*6,020
Direct material price variance= $301 unfavorable
To calculate the direct material quantity variance, we need to use the following formula:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (6,076 - 6,020)*5.05
Direct material quantity variance= $282.8 favorable
Standard quantity= 980*6.2= 6,076
Finally, the total direct material variance:
Total direct material variance= Direct material quantity variance - Direct material price variance
Total direct material variance= 282.8 - 301
Total direct material variance= $18.2 unfavorable
PLEASE HELP! URGENT!
What is the maturity date of a 186-day note dated July 22ND ?
Answers
Answer:
November 24, 2008
Explanation:
if this is helpful... give me brainliest (pls) when possible
Marin Company leased equipment from Costner Company, beginning on December 31, 2019. The lease term is 8 years and requires equal rental payments of $56,394 at the beginning of each year of the lease, starting on the commencement date (December 31, 2019). The equipment has a fair value at the commencement date of the lease of $350,000, an estimated useful life of 8 years, and no estimated residual value. The appropriate interest rate is 8%.
Required:
Prepare Marin's 2019 and 2020 journal entries, assuming Marin depreciates similar equipment it owns on a straight-line basis.
Answers
Answer and Explanation:
The journal entries are shown below:
1. Right of use assets$350,000 ($56,394 × 6.2064)
To lease liability $350,000
(Being the lease liability is recorded)
Refer to the present value annuity due factor table for 6.2064
2. Lease liability $56,394
To cash $56,394
(being cash paid is recorded)
3. Lease liability $32,905
Interest expense $23,489 {($350,000 - $56,394) × 8%}
To Cash $56,394
(Being cash paid is recorded)
4. Amortization expense $43,750 {$350,000 ÷ 8 years)
To Right of use asset $43,750
(Being the amortization expense is recorded)
Sales total Rs. 400,000 when variable costs total Rs.200,000 and fixed costs total $50,000. What is the breakeven point in sales dollars?
Answers
When fixed costs are $50,000 and variable costs are Rs. 200,000, sales come to Rs. In terms of sales dollars, $100,000 is the breakeven point.
A breakeven point is defined.Breakeven points are used extensively in business and finance. The output level is what is produced when, in terms of accounting, total production revenue and total production costs are equal. When the purchase price and the market price are equal, this is when an investment reaches its breakeven point. It is known as the breakeven point in options trading when the market price of an underlying asset hits the level at which a buyer would not incur a loss.
Why do we utilize the break-even point?The break-even point is important for business owners since it shows the minimum amount of sales required to make a profit. A business owner can make well-informed decisions about pricing, output levels, and other factors that have an impact on the bottom line by being aware of the break-even point.
Contribution margin percentage = ($400,000 − $200,000) / $400,000 = 50%;
BE sales = $50,000 / 0.5 = $100,000
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not sure if this information helps or not. I only need help with figuring out the amount for line 16 on 2021 tax form 1040. Beth R. Jordan lives at 2322 Skyview Road, Mesa, AZ 85201. She is a tax accountant with Mesa Manufacturing Company, 1203 Western Avenue, Mesa, AZ 85201 (employer identification number 11-1111111). She also writes computer software programs for tax practitioners and has a part-time tax practice. Beth is single and has no dependents. Beth was born on July 4, 1975, and her Social Security number is 123-45-6785. She did not engage in any virtual currency transactions during the year, and she wants to contribute $3 to the Presidential Election Campaign Fund. Beth received the appropriate coronavirus recovery rebates (economic impact payments); related questions in ProConnect Tax should be ignored. The following information is shown on Beth's Wage and Tax Statement (Form W-2) for 2021. Line Description Amount 1 Wages, tips, other compensation $65,000.00 2 Federal income tax withheld 9,500.00 3 Social Security wages 65,000.00 4 Social Security tax withheld 4,030.00 5 Medicare wages and tips 65,000.00 6 Medicare tax withheld 942.50 15 State Arizona 16 State wages, tips, etc. 65,000.00 17 State income tax withheld 1,954.00 During the year, Beth received interest of $1,300 from Arizona Federal Savings and Loan and $400 from Arizona State Bank. Each financial institution reported the interest income on a Form 1099-INT. She received qualified dividends of $800 from Blue Corporation, $750 from Green Corporation, and $650 from Orange Corporation. Each corporation reported Beth's dividend payments on a Form 1099-DIV. Beth received a $1,100 income tax refund from the state of Arizona on April 29, 2021. On her 2020 Federal income tax return, she used the standard deduction. Fees earned from her part-time tax practice in 2021 totaled $3,800. She paid $600 to have the tax returns processed by a computerized tax return service. On February 8, 2021, Beth bought 500 shares of Gray Corporation common stock for $17
Answers
Here is the amount for line 16 on 2021 tax form 1040 for Beth R. Jordan: $1,292.50
Here is the calculation:To calculate your overall earnings, you can subtract the state income tax withheld and add the state income tax refund and net self-employment income, while also taking into account any self-employment expenses.
These figures can be found on lines 2 and 17 of your W-2 form, and lines 3 and 27 of your Schedule C, respectively.
The precise figures of these items are given below:
Federal income tax withheld: $9,500
State income tax withheld: $1,954
State income tax refund: $1,100
Net self-employment income: $3,800
Net expenses from self-employment: $600
Plugging these values into the calculation above, we get:
$9,500 - $1,954 + $1,100 + $3,800 - $600 = $1,292.50
Therefore, the amount for line 16 on 2021 tax form 1040 for Beth R. Jordan is $1,292.50.
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what are the three element of business equipment and resource?
Answers
Answer:
1.1 Identify and access business equipment or resources required to
complete task under direct instructions
1.2 Estimate quantities and resources correctly to complete the task
1.3 Check equipment for serviceability in accordance with equipment
instructions
2. Operate equipment
2.1 Operate equipment in accordance with manufacturer's specifications
and under direct instructions
2.2 Identify equipment faults accurately and take action to ensure
equipment is repaired in accordance with manufacturer's
specifications
2.3 Report repairs outside area of own responsibility to appropriate
persons
3. Maintain equipment or resources
3.1 Maintain equipment or resources to support completion of tasks under
direct instructions
3.2 Undertake maintenance to ensure equipment meets manufacturer's
specifications
3.3 Maintain records concerning equipment or resources under direct
instructions
3.4 Store equipment and resources under direct instructions
Explanation:
Campbell Corporation’s balance sheet indicates that the company has $540,000 invested in operating assets. During Year 2, Campbell earned operating income of $58,320 on $1,080,000 of sales.
Required
A. Compute Campbell’s profit margin for Year 2. (round to 1 decimal place)
B. Compute Campbell’s turnover for Year 2.
C. Compute Campbell’s return on investment for Year 2. (round to 1 decimal place)
D. Recompute Campbell’s ROI under each of the following independent assumptions:
(1) Sales increase from $1,080,000 to $1,296,000, thereby resulting in an increase in operating income from $58,320 to $64,800.
(2) Sales remain constant, but Campbell reduces expenses, resulting in an increase in operating income from $58,320 to $60,480.
(3) Campbell is able to reduce its invested capital from $540,000 to $432,000 without affecting operating income.
Answers
The Profit margin for year 2 will be 5.4%.
The turnover for year 2 is 2 times.
How to calculate the valuea)Profit marginfor year 2 = (Operating income/Sales*100) = $58320 / 1080000
= 5.4%
b)Turnover for year 2 = Sales / Operating assets = $1080000 / 540000 = 2times
C) ROI f = 5.4%*2 = 10.8%
d.1) ROI = $64800/$540000=12%
d.2) ROI = $60480/$540000=11.2%
d.3) ROI = $58320/$432000=13.5%
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what is a market failure
Answers
Apart from a job search, a also helps in job advancement.
Answers
Apart from a job search, a job portfolio also helps in job advancement.
What is a job portfolio ?A job portfolio is a collection of documents and materials that demonstrate your skills, achievements, and experiences in your field of work. It can include items such as your resume, letters of recommendation, examples of your work, certificates and awards, and other relevant documents.
Having a well-organized and comprehensive job portfolio can help you stand out from other candidates when applying for promotions or new job opportunities. It can provide evidence of your abilities and accomplishments, and demonstrate to potential employers that you are a qualified and capable professional. Additionally, a job portfolio can help you to keep track of your career progress and achievements, and provide a reference for your own personal and professional development.
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Can you name me 2 commercial products that donate to nonprofit organization?
Answers
Two commercial products that donate to nonprofit organizations are Netflix and Amazon.
What are nonprofit organizations?Nonprofit organizations or non-profit organizations, also known as non-business entities, not-for-profit organizations, or nonprofit institutions, is a legal entities organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties.
An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs etc.
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During its most recent period, Raymond Manufacturing expected Job No. 59 to cost $600,000 of overhead, $1,000,000 of materials, and $400,000 in labor. Raymond applied overhead based on direct labor cost. Actual production required an overhead cost of $590,000, $1,140,000 in materials used, and $440,000 in labor. All of the goods were completed. How much is the amount of over- or underapplied overhead?
Answers
Answer:
Under/over applied overhead= $70,000 overapplied
Explanation:
Giving the following information:
Job No. 59:
$600,000 of overhead
$400,000 in labor.
Raymond applied overhead based on direct labor cost.
Actual production required an overhead cost of $590,000, and $440,000 in labor.
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 600,000/400,000
Predetermined manufacturing overhead rate= $1.5 per direct labor dollar
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 1.5*440,000
Allocated MOH= $660,000
Finally, the over/under allocation:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 590,000 - 660,000
Under/over applied overhead= $70,000 overapplied
Which of the following is NOT a step in the basic selling process?
make a connection
recite product features
personalize service
assess needs
Answers
From the options given recite product features is not a step in the basic selling process
What is the basic selling process about?The series of steps a salesperson takes to find and approach prospects, give a sales presentation, address objections, and close a sale is known as the selling process
Prospecting, planning, approaching, presenting, addressing objections, closing, and following up are often involved in the process .The technique may be applied to the majority of selling scenarios, including non-product selling.
The objective is to persuade the consumer that the product or service can satisfy their demand and to establish long-term customer relationships.
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1. Some businesspeople believe that elimination agents and wholesalers reduce their operating expenses. Discuss the opportunity costs associated with eliminating intermediaries.
Answers
1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.
This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.
In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
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QUESTION 2 of 10: Which is NOT something you should look for in a savings account?
a) Low (or no) monthly fee
b) Rewards for using your debit card
c) Free online banking
d) Competitive interest rate
Answers
Answer:
d. Rewards for using your debit card
Explanation:
A "debit card" allows a person to withdraw his funds from his checking account, not from his savings account. It is the checking account that usually offers debit cards.
A "savings account" allows a person to do "online banking." Some banks are purely online and they offer "low or no monthly fee." Depositing money to your savings account provides a competitive interest rate, which is dependent on the amount of money you are putting away.
Will leaving the country make an American businessman immune to U.S. laws?
Answers
Answer:
No, one of the characteristics of a sovereign state is that a citizen is subject to the state's laws even when beyond national borders.
Please give the Brainliest answer!!!
"Is college the best choice?" Using economic reasoning skills you have learned in this course, you will write an extended paragraph making a claim to the prompt, cite two pieces of evidence directly from the sources, and explain your reasoning of how this evidence connects to the claim.
Answers
Answer:
College education is undoubtedly the best choice for individuals seeking higher-paying jobs and better career prospects. According to the Bureau of Labor Statistics, individuals with a bachelor's degree earn an average of $1,248 per week, while those with only a high school diploma earn an average of $746 per week. This means that college graduates earn almost twice as much as those without a college degree. Additionally, a report by Georgetown University's Center on Education and the Workforce found that by 2020, 65% of all jobs in the United States will require some form of postsecondary education. This means that individuals without a college degree will have limited job opportunities and will be at a disadvantage in the job market.
The evidence from the Bureau of Labor Statistics and Georgetown University's Center on Education and the Workforce supports the claim that college education is the best choice. The higher earnings of college graduates compared to those without a college degree indicate that investing in a college education can lead to better financial outcomes. Furthermore, the report by Georgetown University's Center on Education and the Workforce highlights the increasing demand for postsecondary education in the job market. This means that individuals without a college degree will have limited job opportunities and will be at a disadvantage in the job market. Therefore, it is clear that college education is the best choice for individuals seeking higher-paying jobs and better career prospects.
On January 1,2017 mr kebede borrowed 10000 br from awash international bank s.c at 12% interest rate compound semi annually for 3 years? A.calculate the amount of interest payment ?
B. Pass the necessary journal entry to record the borrowing &payment ?
Answers
$600 is the amount of the interest. The journal entry will include cash and interest account.
The information provided:
Amount that is borrowed = $10000
The interest rate = 12%
The interest is calculated on a semi-annual basis for 3 years.
The amount of interest payment is
= 10000 × 19/100 × 3/6
= 600
The entry's creation date. The time frame within which the recording must be made. The person's name who made the entry. The journal entry will include borrowing & payment accounts of the same.
Cash a/c (Dr.) 600
To interest a/c (Cr.) 600
(The interest will be calculated and charged by the bank)
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Which of the following could be a disadvantage of a trade deficit to an economy?
Select the correct answer below:
The economy with a trade deficit will be an exporter of capital.
The economy with a trade deficit will be an importer of capital.
The economy with a trade deficit could have imports that offer more value.
The economy with a trade deficit will be a net lender to the rest of the world.
Answers
There are several disadvantages of Trade deficit. The economy with a trade deficit will be an importer of capital.
Other Disadvantages include:
Negative Balance of Trade (BOT) can result in lower Gross Domestic Product (GDP) A negative Balance of Trade can also lead to a deflationary situation.The inflow of financial capital may not increase productivity adequatelyTrade deficits are regarded commonly as the difference between how much a country imports and how much it exports. when negative, they can harm labor markets and make obstacles of savings and investment.
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You are an outside project management professional who has been hired by Mainstreet to lead its new Wingra Point Live Work development. You are given an approved vendor list and access to the shared drive containing project templates. You are also introduced to the company’s standard processes and procedures and the submission and approval protocols. What type of project inputs do these elements represent? Project collateral Operational Process Assets (OPAs) EEFs Enterprise assets
Answers
These elements represent organizational process assets, which are documents, reports, and plans that are developed within an organization and used to guide project decisions and activities.
What type of project inputs do these elements represent?Generally, Project management is the process of leading a team to achieve specific goals and objectives within a defined timeline and budget. It involves defining project scope, setting goals and milestones, identifying tasks and responsibilities, tracking progress, and making adjustments as needed to ensure successful completion. Key skills in project management include leadership, organization, communication, problem-solving, and time management.
These assets include policies, procedures, guidelines, templates, and historical information that can be used to inform project management decisions and activities.
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Which of the following is true regarding the unrestricted use of new technologies and the most compelling reason for prudent and ethical assessment of its consequences?
a. Immediate advantages should outweigh long-term side effects of technology.
b. Technological innovation is considered neutral and value-free.
c. Many well-meaning technologies have inadvertently produced unforeseen harm.
d. Artificial control of nature will result in producing oppressive control over others.
Answers
For non-restricted use of new technologies & for prudent & ethical analysis of its result represent that many technologies should be inadvertently generated unexpected harm.
The following information should not be relevant:
The instant advantage does not outweigh the technology side effects for the long term.Technological innovation should not be relevant as neutral & value-free.Nature control should not result in generating control over the others.As various new technologies are being adopted by an individual & company but it should result in harm later on.
So it has become important for carrying out the assessment in advance.
Therefore we can conclude that For non-restricted use of new technologies & for prudent & ethical analysis of its result represent that many technologies should be inadvertently generated unexpected harm.
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what kind of kitkat are low demand?
Answers
Kitkat is one of the most selling chocolate brand. The kitkat products which are of low demands are mostly Wasabi kitkat,, whole grain biscuits, cough drop kit kat etc.
What is product demand?The demand for a product changes with taste and needs of consumers. Price elasticity, or consumer behaviour in response to price changes, is the category that describes how consumer demand responds to changes in pricing.
The individual buyer exhibited rational conduct; he sought to maximise the number of advantages, i.e., the ratio of the cost of the meal to the cost of the purchase.
Kitkat is a popular brand and many products such as biscuits, chips, cough drops and chocolate bars are delivered by them. Among them, the products that are commonly of low demand are Wasabi kitkat, cough drop kit kat and whole grain biscuits.
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