First Class, Inc., expects to sell 29,000 pool cues for $13 each. Direct materials costs are $3, direct manufacturing labor is $5, and manufacturing overhead is $0.83 per pool cue. The following inventory levels apply to 2019: Beginning inventoryEnding inventory Direct materials24,000 units24,000 units Work-in-process inventory0 units0 units Finished goods inventory1,200 units2,800 units What are the 2019 budgeted costs for direct materials, direct manufacturing labor, and manufacturing overhead, respectively
Answers
Answer:
Direct material= $91,800
Direct labor= $153,000
Manufacturing overhead= $25,398
Explanation:
Giving the following information:
Sales= 29,000 pool cues
Direct materials costs are $3
direct manufacturing labor is $5
manufacturing overhead is $0.83 per pool cue
Beginning inventory Direct materials= 24,000 units
Ending inventory Direct materials= 24,000 units
Finished goods inventory Beginning= 1,200 units
Finished goods inventory Ending= 2,800 units
First, we need to determine the number of units to be produced:
Production= sales + desired ending inventory - beginning inventory
Production= 29,000 + 2,800 - 1,200
Production= 30,600 units
Direct material= 30,600*3= $91,800
Direct labor= 30,600*5=$153,000
Manufacturing overhead= 30,600*0.83= $25,398
Related Questions
Kendra makes custom baby quilts embroidered with the baby’s name and date of birth. Although quilts can be partially completed in advance, all quilts remain in the Work in Process Inventory account until the final embroidery is completed. Quilt BBGR12 was completed in July. At the beginning of July, costs accumulated on the quilt were direct materials of $50, direct labor of $75, and overhead of $20. Completing the quilt required 2.5 hours of direct labor at $12 per hour. Overhead is applied at $3 per direct labor hour. What is the total cost on the job cost sheet for Job BBGR12 at the end of July? (Show your work.)
Answers
Answer:
$182.50
Explanation:
Calculation of the total cost on the job cost sheet for Job BBGR12
Manufacturing Costs Schedule
Beginning Work In Process Inventory :
Direct Materials $50.00
Direct labor of $75.00
Overhead of $20.00
Incurred during the year :
Direct labor (2.5 hours × $12) $30.00
Overheads (2.5 hours × $3) $7.50
Total cost on the job cost sheet $182.50
Yvonne and Rolanda are good friends. One day, they are on the way to the market together when they are hit by a car whose driver runs a stop sign. Yvonne is barely injured, but Rolanda sustains life-threatening injuries. In the hospital, just before they wheel Rolanda away to surgery, Rolanda tells Yvonne that she wants Yvonne to have her diamond necklace. Rolanda directs Yvonne to get the diamond necklace out of Rolanda’s purse, where they had put it after the accident, so Yvonne does. The surgery is successful, and Rolanda makes a full recovery. If Rolanda asks for her necklace back:
Answers
Answer:
Yvonne would have to return the necklace to Rolanda
Explanation:
Yvonne would have to return the necklace to Rolanda after she survived the surgery because it was a gift causa mortis, a gift given in contemplation of impending death. Because Rolanda did not die, Rolanda is entitled to have the necklace returned to her.
A project manager forgets to assess how national holidays and team member vacations will affect the project’s completion date. Now, because of team member time off, the project delivery will be two weeks late. What flexible planning strategy could the project manager have used to avoid the delay?
Answers
The flexible strategy is used to avoid the delay in assessing the external constraints.
The following information regarding accessing external constraints:
It could be thrust upon an organization.It permits for uncovering the things that are beyond the control.The example involved national holidays or sick leaves.If we accessing the external constraints so the delay could be avoided.
So, The other options seem incorrect
Therefore we can conclude that the flexible strategy is used to avoid the delay in assessing the external constraints.
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To reduce delays in considering external restrictions, a flexible technique is employed. The following details about external limitations are available:
It has the potential to be imposed on a company.It enables us to see what we can't see.National holidays and sick leave were used as examples.The delay may be minimized if we used external limitations.It concludes that the flexible technique is employed in order to prevent a delay in considering external limitations.Therefore, "Assessing external constraints" is correct.
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Economic demand is?
A. the amount of a good or service that consumers are willing and able to buy at one price.
B. the amount of a good or service that consumers are willing and able to buy at various prices.
C.the amount of a good or service that producers are willing and able to produce at various prices.
D. the amount of a good or service that consumers are willing but not able to buy at various prices.
Which of the following is correct?
Answers
The correct answer is B. Economic demand is the amount of a good or service that consumers are willing and able to buy at various prices.
It reflects the relationship between the price of a product and the quantity that consumers are willing to purchase at that price. Demand is influenced by factors such as price, consumer preferences, income levels, and availability of substitutes.
As the price of a product decreases, the quantity demanded generally increases, and vice versa, following the law of demand. The demand curve represents this relationship, showing the quantity of a good or service that consumers are willing and able to buy at different price points.
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Instructions
A new client has come to your architectural office, to discuss ideas of her families new residence. She is moving to Colorado from a rural area in southern Georgia to take a
new job. She has not yet decided whether to build a home or buy an existing one. The client is about 35 years ols and has three children, ages 9, 5 and 2.
When you ask about her family's priorities, she tells you that the home must be close to good schools and daycare facilities. Although her new job is downtown, she does not
want to live downtown because she thinks that would be too big of a change for her children. She wants a house with at least three bedrooms, with room for expansion
Given this preliminary information, answer the following questions.
Answers
Expalin two advantages of Marginal Costing.
Answers
Answer:
. Facilitates cost control – By separating the fixed and variable costs, marginal costing provides an excellent means of controlling costs. 3. Avoids arbitrary apportionment of overheads – Marginal costing avoids the complexities of allocation and apportionment of fixed overheads which is really arbitrary.
Responses to your job application
Answers
It's crucial to be respectful and professional while responding to a job application. Read the message carefully and locate the proper contact information before sending an acknowledgment email.
After that, add a salutation and express your gratitude to the person for acknowledging your application. It also expresses your want to speak with them again and further discuss your credentials. If are responding to a recruiter email.
It's crucial to react to job applications promptly and to use the right email templates to let applicants know that you have received their application for a position that is open.
As a result, the significance of the job application are the aforementioned.
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Your question is incomplete, but most probably the full question was.
Responses to your job application what should be included?
how can I draw the circular flow of Income in an open economy?
Answers
The unending flow of goods and services, income, as well as expenditure in an economy is referred to as the circular flow. It depicts the circular redistribution of income between the production unit and households. Land, labour, capital, as well as entrepreneurship are examples of these.
The circular flow of diagram's outer loop depicts the flow of factor services from households to firms, as well as the corresponding flow of payments for factors from firms to households.
The inner loop depicts the flow of goods and services from firms to households, as well as the flow of consumer spending from households to firms. The entire amount of money paid by firms as factor payments is returned to the firms by the factor owners.
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what is the difference between time work and piece work rates
Answers
Answer:
the process by which green plants turn carbon dioxide and water into food using energy from sunlight
Andy's yearly income is 40,000. According the 20/10 rule, what would Andy's debt load be on a 15,000 personal loan? Would Andy's debt loan follow the guidelines of the 20/10 rule? Provide a reason for your answer
Answers
Answer:
Andy is not following the guidelines because his total Loan amount is 37.5% of his Total annual income which should be below 20%.
Explanation:
20/10 Rule
According to this rule, your total debt should be below 20% of annual income and keep your all payments of loans no more than 10% of your monthly income.
As per Rule:
(Total debt / Total annual income) *100 = (15000/40000) *100= 37.5%
What is the multiplier when the change in equilibrium level of real GDP in the aggregate expenditures model is 9, and change in autonomous aggregate expenditures is 3?
Answers
When the change in equilibrium level of real GDP equals 9 and change in autonomous aggregate expenditures equals 3, then, the multiplier will be 3.
Multiplier helps to measures how much a changes is in response to a change in other variable.
Given Information
Change in equilibrium level of GDP = 9
Change in autonomous expenditure = 3
The formula to be deployed is Multiplier = {Change in equilibrium level of GDP / Change in autonomous expenditure}
Multiplier = (9 /3)
Multiplier = 3.
Therefore, when the change in equilibrium level of real GDP in the aggregate expenditures model is 9 and the change in autonomous aggregate expenditures is 3, then, the multiplier will be 3.
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PLEASE HELP HURRY!! 20 POINTS!! WILL MARK BRAINLIEST IF CORRECT!
You are a concerned constituent, and you want to help your House Representatives member or Senator draft a bill that would help the federal government raise revenue. Where should you submit the bill?
directly to the President for his signature
either to your Congressional District Representative or Senator
only to your Senator
only to your Representative
Answers
Answer:
to the president
Explanation:
because he has to see if he has to veto or pass it
Companies usually buy __________ assets. These include both tangible assets such as _______________ and intangible assets such as _____________. To pay for these assets, they sell _____________ assets such as_____________. The decision about which assets to buy is usually termed the _____________ or _______________ decision. The decision about how to raise the money is usually termed the _____________ decision.
Answers
Answer:
Companies usually buy ____real______ assets. These include both tangible assets such as ___property, plant, and equipment____________ and intangible assets such as ____patents, copyrights, and brands_________. To pay for these assets, they sell ____financial_________ assets such as_____bonds________. The decision about which assets to buy is usually termed the _____investment________ or _____capital budgeting__________ decision. The decision about how to raise the money is usually termed the ____financing_________ decision.
Explanation:
Real assets can be tangible or intangible assets. They are also known as long-term or fixed assets, given their time horizon before they are fully consumed in production. Real assets, which possess intrinsic value, can be distinguished from financial assets, which are based on contractual claims or securities, including stocks and debts. In any management role, decisions are made about capital budgeting or investment. These also require financing decisions to fund the investments.
Your uncle is sole pro-
prietor of a camera shop. You know much more about digital cameras than he does. He is looking for a
partner. What questions would you ask him before you would consider going into business with him?
Answers
Answer:
Does he know managerial and literacy work such as account book keeping, purchase and sale record keeping etc.
Explanation:
Because I will do the sale and purchase of the camera and other technical work myself.
stock price for vinyl record player?
Answers
To give you an idea the stock price, beginner to advanced record player installations can range from $50 to $450, depending on a number of variables.
What is current stock price?It is the latest trading price for a share of stock or any other security. The present price serves as the starting point in an open market. It shows the price that a buyer and seller would be prepared to accept for a later transaction involving that security.The current price is only an indication and not a promise. The future sale price on an exchange is not determined by the present price. The security's price will fluctuate over time as supply and demand factors change.Using the current value accounting method, assets are valued at their replacement cost rather than their initial cost.Cash price is the same as current price because it refers to the most recent quoted price on an exchange.Learn more about current stock price refer to :
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A competitive firm produces a product using labor and plastic. The firm is initially in equilibrium. If the cost of plastic suddenly increases, which of the following will occur?
A. The demand curve for the product will shift to the left.
B. The firm's demand curve for plastic will shift to the left.
C. The firm will increase the number of units offered for sale.
D. The firm will definitely go out of business, since competitive firms earn zero economic profits in equilibrium.
E. The firm's marginal costs will increase at each level of output.
Answers
Answer:
B
Explanation:
Option (e), which states that the firm's marginal costs will rise at each output level, is the right choice.
Does the marginal cost of a production increase?The marginal cost of production often increases as output volume increases. The manufacturer can decide how to divide resources among the production units in order to maximize output by using marginal cost.
What occurs when a company's marginal cost increases?They make the unit and supply it if the sale price exceeds the marginal cost. It would not be economically feasible to make it if the marginal cost was higher than the price. Therefore, manufacturing will continue until the sale price equals the marginal cost.
Why eventually does marginal cost increase with output?As output grows, the marginal cost eventually rises as a result of the declining marginal product of labor.
When output declines, what happens to the marginal cost?At this point, marginal cost decreases until it reaches a minimum due to economies of scale and the Law of Diminishing Returns. The marginal cost then grows as output rises.
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if the pictures are not the same size when they are selected from a file
Answers
Explain Theory X and Theory Y management styles.
Answers
Whereas Theory X emphasizes the necessity of increased monitoring, outside rewards, and penalties, Theory Y emphasizes the significance of job pleasure as a motivator and encourages employees to approach jobs without direct supervision.
What is management theory X?The foundation of Theory X management is the idea that employees lack ambition and intrinsic motivation. Managers provide motivation by closely monitoring employees' work and ensuring that it was done appropriately.
What do Theories X and Y mean?Management theories created by Douglas McGregor include Theory X and Theory Y. Theory X is predicated on the notions that workers are unmotivated, lack motivation, only labor for compensation, and require continual supervision. Theory Y is predicated on the notions that workers desire employment, desire to assume responsibility, and do not require much supervision.
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ɔw much did the unemployment rate grow from January 2020 to January 2021 due to the COVID-19 pandemic? (1 point)
O 0.8%
O 1.8%
O 2.8%
O 3.8%
Answers
The unemployment rate from January 2020 to January 2021 grew by D. 3.8%.
How did the unemployment rate grow ?From January 2020 to January 2021, the unemployment rate in the United States more than doubled from 3.6% in January 2020 to 6.3% in January 2021. This increase in unemployment was largely due to the economic impact of the pandemic, which led to business closures, reduced hours, and job losses across many industries.
In addition to the official unemployment rate, there were many other workers who experienced reduced hours or dropped out of the labor force entirely, so the overall impact of the pandemic on employment was even greater than reflected in the official statistics.
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Answer: 1. your emergency fund
2. Reduce casual spending and increase savings until your emergency fund has been paid back.
3. tracking your spending
4. a private foundation
5. 60%
6. a bank savings account
7. a high interest rate
8. the profit earned on the sale of an asset which has increased while it was owned
9. a fund that pools money from many investors to buy securities
10. owning dividend stocks
11. a type of account offered to employees at very little or no cost
12. SEC
13. NCUA
14. 2.8%
15. the money that a person or a country earns
16. water bill
17. your previous budget
18. You buy undervalued assets, which appreciate with time.
19. a stock market index made up of the 500 largest companies being traded in the U.S.
Step-by-step explanation: I took the same quiz and got 100%, hope it helps!
What is the relative use of each form of a business in the United States and how that has changed over time?
Answers
The relative use of each form of a business in the United States are:
They are used to provide services to peopleThey monitor market trends and use this information to make profitThey allow public ownership through buying of sharesTheir uses have changed over time because:
They are more profit oriented now more than beforeThey help in job creation, etcBusiness is any venture that deals in buying and selling for the primary purpose of making profit.
There are different forms of business in the United States and they include:
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Do you need a college degree to enter the military?
A. True
B. False
Answers
Explanation: you do not need a college degree to enter the military
Answer:
B, false
Explanation:
Which part of the Business Cycle would this graph represent?
Answers
bust is the correct answer
Which of the followWhich of the following actions do not cause an impropriety in job costing?
Choosing an allocation method based on the results rather than choosing the method based on resource usage.
Misstating the stage of completion.
Choosing to use normal costing rather than actual costing.
Charging costs to the wrong job.
ing actions do not cause an impropriety in job costing?
Answers
Answer:
Choosing to use normal costing rather than actual costing.
Explanation:
The choice between normal costing and actual costing is not an ethical issue.
Lartey Corporation's cost formula for its selling and administrative expense is $22,200 per month plus $27 per unit. For the month of December, the company planned for activity of 5,300 units, but the actual level of activity was 5,270 units. The actual selling and administrative expense for the month was $168,150.
The activity variance for selling and administrative expense in December would be closest to:
Answers
The activity variance for selling and administrative expense in December is negative, which means that the actual expense was less than what we would expect based on the flexible budget.
To calculate the activity variance for selling and administrative expense in December, we need to use the cost formula provided by Lartey Corporation, which is $22,200 per month plus $27 per unit.
First, let's calculate the planned (budgeted) selling and administrative expense for December based on the planned activity level of 5,300 units:
Planned selling and administrative expense = $22,200 + ($27 x 5,300) = $171,900
Next, we can calculate the flexible budget for selling and administrative expense based on the actual level of activity, which was 5,270 units:
Flexible budget for selling and administrative expense = $22,200 + ($27 x 5,270) = $170,790
Finally, we can calculate the activity variance by subtracting the flexible budget from the actual selling and administrative expense:
Activity variance = Actual selling and administrative expense - Flexible budget
Activity variance = $168,150 - $170,790
Activity variance = -$2,640
The activity variance for selling and administrative expense in December is negative, which means that the actual expense was less than what we would expect based on the flexible budget. This could be due to cost savings or efficiencies in the company's operations.
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_______________ tasks are non-repetitive in nature and involve considerable
application of knowledge, judgment, and expertise. As such, the teams draw their members from different disciplines and functional units, so that specialized expertise can be applied to the task(s) at hand.
1) Project teams
2) Management teams
3) Parallel teams
4) None of these make sense to me.
5) Work teams
Answers
Answer:
1) Project teams
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service.
The fundamentals of Project Management are considered universal across most businesses and professions.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project
5. Adapting and closure of project.
Project teams comprises individuals or group of people that come together as a unit to take on a one-time and non-repetitive tasks that are generally considered to be often complex and as such would require input from members with different types of training, skills, knowledge competence and expertise.
This ultimately implies that, project teams tasks are non-repetitive in nature and involve considerable application of knowledge, skills, competence, judgment, and expertise.
Suppose you have $100 in a saving account earning 2 percent interest a year.after five year how much would you have
Answers
Answer: Roughly $110.40
Explanation:
100 x (1.02)^5
The 1.02 is just 100 percent of the number plus the 2 percent interest you make.
Answer:
$110.41
Explanation:
Provided that the interest is a "compounding interest," you will have $110.41 in 5 years. A compounding interest allows you to calculate the interest you can earn on your accumulated interest over time in addition to your deposit.
Let's calculate the interest on a yearly basis.
1. First year = $100 x 20% (0.02) = $2
You have to add $2 to the initial deposit of $100.
$100 + $2 = $1022. Second year = $102 x 20% (0.02) = $2.04
$102 + $2.04 = $104.043. Third year = $104.04 x 20% (0.02) = $2.0808
104.04 + $2.0808 = $106.12084. Fourth year = $106.1208 x 20% (0.02) = $2.122416
$106.1208 + $2.122416 = $108.2432165. Fifth year = $108.243216 x 20% (0.02) = $2.16486432
$108.243216 + $2.16486432 = $110.408 or $110.41After five years, you will have $110.41.
You can determine the financial position of a company from:
Answers
To do this you need the company’s balance sheet, the income statement and the cash flow statement.
The balance sheet provides a snapshot of a company's financial position at a specific point in time. Thus, Option (B) is correct.
The balance sheet presents a summary of the company's assets, liabilities, and shareholders' equity. It shows what the company owns (assets), what it owes (liabilities), and the residual value for shareholders (shareholders' equity).
By analyzing the balance sheet, one can assess the company's liquidity, solvency, and overall financial health. It helps determine the company's net worth, debt levels, working capital, and the composition of its assets and liabilities.
While the income statement, statement of owner's equity, and statement of cash flows provide valuable information, the balance sheet is specifically designed to present the financial position of a company.
Thus, Option (B) i.e. balance sheet can determine the financial position of a company when one looks at it.
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You can determine the financial position of a company from:
A. Income statement
B. Balance sheet
C. Statement of owner's equity
D. Statement of cash flows
C 0
a.
Hank is a salaried plus commission employee. Hank has a monthly salary of $2.500 and earns 5.5% commission on all
sales. Which of the following expressions represents Hank's total earnings in one month if he has $6,300 in sales?
2,500 + (0.055)(6,300)
b. 2,500 + (5.5)(6,300)
c. (2,500) (5.5) + 6,300
d. (2,500) (0.055) + 6,300
Answers
Answer:
The answer is A
2,500 + (0.055)(6,300)
Explanation:
Answer:
A
Explanation:
Fill out the tax forms for:Ivy Perry, age 40, is single and has no dependents. She is employed as a legal secretary by Legal Eagle Beagle, Inc. She owns and operates Type It located near the campus of Florida Community College at 200 College Road. Ivy is a material participant in the business. She is a cash basis taxpayer. Ivy lives at 6020 College Road, Pensacola, Fla. 33210. Ivy's Social Security number is 123-44-5678. Ivy indicates that she wishes to designate $3 to the Presidential Election Campaign Fund. During 2021, Ivy had the following income and expense items: a. $50,000 salary from Legal Eagle Beagle, Inc. b. $20,000 gross receipts from her typing business c. $700 interest income from Florida Community Bank. d. $1,000 Christmas bonus from Legal Eagle Beagle, Inc. e. $60,000 life insurance proceeds on the death of her brother. f. $5,000 check given by her wealthy uncle g. $100 won in a bingo game. h. Expenses connected with the typing business: Office Rent Supplies Utilities and telephone Wages paid to part-time typists Payroll Taxes Equipment Rentals $7,000 4,400 4,680 5,000 500 3,000 i. $8,346 interest expense on a home mortgage (paid to Florida Community Savings& Loan) j. $5,000 fair market value of silverware stolen from her home by a burglar on October 12 2021; Ivy had paid $4,000 for the silverware on July 1, 2008. She was reimbursed $1,500 by her insurance company k. Ivy had loaned $2,100 to a friend, Deb Dobson, on June 3, 2018. Deb declared bankruptcy on August 14, 2021 , and was unable to repay the loan. Legal Eagle Beagle, Inc. withheld Federal income tax of $7,500 and FICA tax of $3,551 (which was adequate for 2021). Assume the loan is a bona fide debt. 1. m. Alimony of $10,000 received from her former husband, Tony Springfield. n. Interest income of $800 on City of Pensacola bonds. o. Ivy made estimated Federal tax payments of $1,000. p. Sales tax from the sales tax table of $654. q. Charitable Contributions of $2,500. What is the Total income, Adjusted gross income, Taxable income, Tax liability, and amount of federal tax due or refunded.
Answers
Based on the provided information, Ivy Perry's tax situation for 2021 is as follows:
Total Income: $71,800
Adjusted Gross Income (AGI): $47,220
Taxable Income: $34,670
Tax Liability: $3,961.40
Federal Tax Refund: $4,538.60
What is taxation?Taxation is the imposition of compulsory levies on individuals or entities by governments.
It should be noted that Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes.
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NBM common stock recently paid annual dividend in the amount of $2.25 per share. The analyst’s estimate of the firm’s growth forecast over the next 4 years is 18.00% and over 3 years after that of 16.5%. You expect the firm to slow down in the long run and estimate the long-term growth rate after 7 years to be 6.5%. If the required rate of return on the stock is 11%, what is your estimate of the stock price?
Answers
Using the dividend discount model with given growth rates and required rate of return, the estimated stock price for NBM common stock is calculated by discounting future dividends, resulting in the stock price.
To estimate the stock price of NBM common stock, we can use the dividend discount model (DDM) which calculates the present value of future dividends.
First, let's calculate the dividends for the next 7 years:
Year 1: $2.25 (given)
Year 2: $2.25 * (1 + 18%) = $2.655
Year 3: $2.655 * (1 + 18%) = $3.1399
Year 4: $3.1399 * (1 + 18%) = $3.7029
Year 5: $3.7029 * (1 + 16.5%) = $4.3177
Year 6: $4.3177 * (1 + 16.5%) = $5.0273
Year 7: $5.0273 * (1 + 6.5%) = $5.3485
Next, let's calculate the present value of these dividends using the required rate of return of 11%:
PV = D1 / (1 + r) + D2 / (1 + r)^2 + ... + D7 / (1 + r)^7
PV = $2.25 / (1 + 0.11) + $2.655 / (1 + 0.11)^2 + $3.1399 / (1 + 0.11)^3 + $3.7029 / (1 + 0.11)^4 + $4.3177 / (1 + 0.11)^5 + $5.0273 / (1 + 0.11)^6 + $5.3485 / (1 + 0.11)^7
Finally, summing up the present values, we can estimate the stock price:
Stock Price = PV
Calculating this equation will give the estimated stock price of NBM common stock.
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