On April 1, Telecom Manufacturing Company's beginning balances in manufacturing accounts and finished goods inventory were as follows: Raw Materials $16,000 Manufacturing Supplies 1,500 Work-in-Process 6,500 Manufacturing Overhead 0 Finished Goods 30,000 During April, Telecom Manufacturing completed the following manufacturing transactions: 1. Purchased raw materials costing $47,000 and manufacturing supplies costing $3,000 on account. (Single Transaction) 2. Requisitioned raw materials costing $45,000 to the factory. 3. Incurred direct labor costs of $27,000 and indirect labor costs of $4,800. 4. Used manufacturing supplies costing $2,500. 5. Recorded manufacturing depreciation of $15,000. 6. Miscellaneous payables for manufacturing overhead totaled $3,600. 7. Applied manufacturing overhead, based on 2,250 machine hours, at a predetermined rate of $10 per machine hour. 8. Completed jobs costing $90,000. 9. Finished goods costing $100,000 were sold.
(a) Prepare "T" accounts showing the flow of costs through all manufacturing accounts, Finished Goods Inventory, and Cost of Goods Sold.
(b) Calculate the balances at the end of April for Work-in-Process Inventory and Finished Goods Inventory.Enter transactions in the T-accounts in the order they appear using the first available answer box on the appropriate side.
Answers
Answer:
Raw Materials
Debit Credit
16,000
#1 Purchase 47,000
#2 requisitions 45,000
Ending 18,000
Manufacturing Supplies
Debit Credit
1,500
#1 Purchase 3,000
#4 Used 2,500
Ending 2,000
WIP - Inventory
Debit Credit
6,500
#2 Direct M 45,000
#3 Direct L 27,000
#7 Applied MO 22,500
#Complete Jobs 90,000
Ending 11,000
Manufacturing Overhead
Debit Credit
0
#3 Indirect L 4,800
#4 Indirect M 2,500
#5 depreciation 15,000
#6 Miscellaneous 3,600
#7 Applied 22,500
Ending 3,400
Adjustment
for underapplied 3,400
Balance 0
Finished Goods
Debit Credit
30,000
#8 Completed 90,000
#9 Sold 100,000
Ending 20,000
Cost of Good Sold
Debit Credit
#9 Sold 100,000
Adjustment
for underapplied MO 3,400
ending 103,400
(b)
WIP Ending Balances 11,000
Finished Goods 20,000
Explanation:
The origin of the cost is displatyed on the credit whilethe destination in the dbeit
For example:
when we complete a job we credit work in process inventory (origin) and debit finished good (destination of the cost)
when we transfer the requisitioned materials we credit raw materials (origin) and debit WIP-inventory (destination)
Related Questions
Provide an argument for how Coke's disastrous marketing campaign for New Coke might actually have been a good thing for the company's core product.
Answers
29.
An operation was closed because of an extended electricity failure. When can it
begin service again?
Answers
It can begin service again approval is obtained from the regulatory authority.
When can service startThe duration for an organization to recommence its services after enduring a foremost electricity malfunction relies on several elements, such as the character of the operation, the magnitude of destruction caused by the power cut-off, as well as the accessibility of supplies requisite to renew operations.
For instance, if the establishment is a minor retail outlet, it can possibly resume working once the power source is restituted and various necessary safeguards have been established. Conversely, if the business is a major production concern or informatics server, it could take longer to reinstate tasks due to the meticulously intricate facilities and networks entailed.
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Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.
Answers
If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.
To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.
For MAC1: MAC1 = 100 - 10E
For MAC2: MAC2 = 50 - 10E
To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.
Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E
Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.
MD = Aggregate MAC
30E = 150 - 20E
Simplifying the equation, we get:
50E = 150
E = 3
Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.
Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.
Net social costs = Aggregate MAC - MD
Net social costs = (150 - 20(4)) - (30(4))
Net social costs = 110 - 120
Net social costs = -10
The net social costs of this policy would be -10, indicating a net benefit to society.
If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.
Setting MAC1 equal to MAC2:
100 - 10E = 50 - 10E
Simplifying the equation, we find that E can have any value, as both sides are equal.
Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.
In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.
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State Farm insurance company prints an ad in a national newspaper’s apartment rental section with a picture of a girl sitting on the edge of a tub full of water, blowdrying her hair while a plugged in toaster sits on the edge. The caption at the top of the ad reads, “Renting without State Farm is like...” Which need does this marketing ad emphasize for potential customers?
a. safety and security
b. physiological needs
c. esteem
Answers
Answer:
Safety and Security
Explanation:
Blow drying your hair over the tub isn't safe
The marketing ad emphasizes potential customers' need of safety and security.
An insurance company is a company that is responsible for selling insurance that protects our objects and even our lives in case they are affected.
For example, if I buy insurance for my car and someone steals it, the insurance company gives me a percentage of the value of the car so that my loss is not total.
In the case presenting the company, it presents an image of "risk" so that buyers understand the idea of danger and the need for safety and protection to have insurance that covers those possible accidents that occur.
So the correct answer is A. safety and security
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Which customers should Christopher focus on in this example? (Fill in the blank question)
Christopher wants to know why some of his customers left. He recently did an RFM analysis. He should focus on customers with the ______ RFM score.
Answers
Answer:
lowest
Explanation:
In simple words, an RFM review determines which consumers are most likely to react to a new bid. Each consumer receives a three-digit RFM score (ranging from 111 to 555) as a result of the RFM review. A 555 means that a consumer has bought a service or product the most recently, consistently, and for the most money. Thus, Christopher should focus on lowest RFM score.
Answer:
Lowest
Explanation:
Correct on edmentum
explain the peripheral functions of management
Answers
Answer:
Explanation:
The peripheral functions of management refer to the additional activities that support the primary functions of planning, organizing, leading, and controlling. These peripheral functions include activities such as communication, decision-making, problem-solving, and coordination. They play a crucial role in ensuring effective management by facilitating information flow, resolving issues, making informed choices, and promoting collaboration among team members. While not the core functions, these peripheral activities are essential for the overall success and efficiency of an organization.
Hope it helps!
Quantitative Problem: Rosnan Industries' 2019 and 2018 balance sheets and income statements are shown below.
Balance Sheets
2019 2018
Assets
Cash and equivalents $100 $85
Accounts receivable 275 300
Inventories 375 250
Total current assets $750 $635
Net plant and equipment 2,300 1,490
Total assets $3,050 $2,125
Liabilities and Equity
Accounts payable $150 $85
Accruals 75 50
Notes payable 150 75
Total current liabilities $375 $210
Long-term debt 450 290
Total liabilities 825 500
Common stock 1,225 1,225
Retained earnings 1,000 400
Common equity 2,225 1,625
Total liabilities and equity $3,050 $2,125
Income Statements
2019 2018
Sales $2,265 $1,565
Operating costs excluding depreciation and amortization 1,250 1,000
EBITDA $1,015 $565
Depreciation and amortization 100 75
EBIT $915 $490
Interest 63 46
EBT $852 $444
Taxes (25%) 213 111
Net income $639 $333
Dividends paid $54 $48
Addition to retained earnings $585 $285
Shares outstanding 100 100
Price $25.00 $22.50
WACC 10.00%
The balance in the firm's cash and equivalents account is needed for operations and is not considered "excess" cash.
Using the financial statements given above, what is Rosnan's 2019 free cash flow (FCF)? Use a minus sign to indicate a negative FCF. Round your answer to the nearest cent.
Answers
The 2018 free cash flow for Rosnan Industries is $158. The balance sheet was the based on the Rosnan Industries' 2019 and 2018.
Particular 2018 2019
Current Asset $635 $750
Current Liability $135 $255
Net working capital 500 525
Net increases in working capital 25
The capital expenditure is made are computed:
Ending balance of fixed asset 2300
Add: Depreciation 100
Less: Begging of fixed amount 1490
Capital expenditure: 910
Net income: 677
Add: Depreciation 100
Less: Capital expenditure -910
Less: Net increases in Net WC -25
Free cashflow -158
The 2018 free cash flow for Rosnan Industries is $158.
As a result, the significance of the Rosnan Industries' 2019 and 2018 balance sheets are the aforementioned.
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what is asset and liability management
Answers
Answer: Asset and liability management (ALM) is a crucial process or strategy that involves effectively managing assets and cash flows to fulfill obligations and minimize risks caused by any mismatch between assets and liabilities. This technique is utilized for financial planning, asset allocation, and regulatory and capital framework adjustments. Additionally, ALM can significantly impact the profitability, efficiency, and indexation of organizations or funds. Essentially, ALM is a risk management approach that helps financial institutions minimize risk and maximize profits by managing their assets and liabilities. It guarantees that the institution has sufficient cash readily available to meet its obligations as they arise.
Explanation:
What are three possible problems that could be causing the Internet connection issue?
Answers
The three possible problems that could be causing the Internet connection issue is
Network Hardware IssuesService DisruptionConfiguration IssuesThe internet connection may be interrupted by hardware issues on the network. This can involve broken network cables, modems, or routers. Intermittent or poor connectivity may be caused by malfunctioning or obsolete equipment.
There could be a service Disruption or outage for your local internet service provider (ISP). This can be because of upkeep, technological difficulties, or infrastructural challenges.
Internet access can be affected by problems with program settings, network arrangements, or incompatible applications. This may entail obsolete network drivers, incorrectly configured network settings, or issues with a firewall or antivirus software.
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Suzy works for a company that markets timeshare condos on beach resorts in Mexico. Her job is to phone consumers and invite them to a free weekend at one of her employer's beach resorts. The only catch is that visitors are obliged to take a tour and listen to a presentation about investing in a timeshare. Which orientation is Suzy's company exhibiting?
Answers
Answer:
Sales orientation
Explanation:
Sales Orientation is a business approach of making profits by focusing on persuasion of people to buy the products instead of understanding the customer needs
For an economy, operating outside the production possibilities frontier:
Answers
For operating outside the production possibilities frontier, the economy should not be possible with the present resources & technology.
The information related to the production possibilities frontier should be considered:
It represents the possible combinations of goods that are manufactured with the available resources.If the combinations are on the PPF so it is feasible & efficient.If the combination is not on the PPF i.e. outside so it can't be feasible.If the combination is inside on the PPF so it is feasible but not efficient.Therefore we can conclude that For operating outside the production possibilities frontier, the economy should not be possible with the present resources & technology.
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Explain two advantages to TGH of segmenting the market for sport shoes
Answers
1. Targeted Marketing: By segmenting the market, TGH can identify specific groups of consumers with distinct needs, preferences, and behaviors related to sport shoes. This allows them to tailor their marketing efforts and product offerings to meet the specific demands of each segment. For example, they can develop different marketing messages, designs, or features for segments such as professional athletes, casual runners, or fashion-conscious individuals. This targeted approach enhances the effectiveness of marketing campaigns, leading to increased customer engagement, brand loyalty, and ultimately, higher sales.
2. Competitive Advantage: Segmenting the market can help TGH gain a competitive edge over rivals. By focusing on specific segments, TGH can better understand their unique requirements and deliver superior products and services compared to competitors who adopt a more generic approach. This can lead to enhanced customer satisfaction and loyalty within those segments. Additionally, TGH can identify niche or underserved segments within the sport shoe market and develop specialized products to cater to their needs. By catering to these niche segments, TGH can differentiate itself from competitors and establish a strong position in the market.
Overall, market segmentation allows TGH to optimize their marketing efforts, cater to diverse consumer needs, and gain a competitive advantage by focusing on specific market segments.
The four career pathways in Finance are
Banking and Related Services, Insurance Services, Retail Sales, and Business Financial Management.
Securities Law, Insurance Services, Financial and Investment Planning, and Business Financial Management.
Banking and Related Services, Retail Sales, Securities Law, and Business Financial Management.
Banking and Related Services, Insurance Services, Financial and Investment Planning, and Business Financial Management.
Answers
Answer:
Banking and Related Services, Insurance Services, Financial and Investment Planning, and Business Financial Management.
Answer: A.
Explanation:
Assume that a manufacturing company incurred the following costs: Direct labor $ 90,000 Advertising $ 40,000 Factory supervision $ 36,000 Sales commissions $ 15,000 Depreciation, office equipment $ 4,000 Indirect materials $ 5,000 Depreciation, factory building $ 20,000 Administrative office salaries $ 1,000 Utilities, factory $ 2,500 Direct materials $ 106,000 Insurance, factory $ 10,000 Property taxes, factory $ 7,000 What is the total amount of manufacturing overhead
Answers
The manufacturing overhead is calculated by taking all the costs that are incurred directly for the manufacturing process of goods.
Costs incurred are as follows:
Direct labor $90,000
Indirect Material $5,000
Depreciation factory building $20,000
Utilities (Factory) $2,500
Direct Materials $106,000
Factory $,7000
Total Manufacturing Overhead = $230,500
Therefore the answer to the question is $230,500
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You decide to decrease the price of your product to increase total sales revenue, because you believe your product's demand is
A) perfectly inelastic
B) unit elastic
C) price elastic
D) price inelastic
Answers
Answer:
C) price elastic.
Explanation:
Sadie is a reporter who has researched an in-depth article about the prevalence of mercury found in local fish. During her investigation she finds that although a few fish have been caught with high levels of mercury, for the most part, they are rare. Considering that Sadie’s organization needs to sell ad space, which title will she MOST likely pick for this article?
A.
No Cause for Alarm with Local Fish
B.
Few Fish Affected by Mercury, Study Finds
C.
Mercury Levels Not an Issue Here
D.
Toxic Ingredients in Local Seafood
Answers
The title that Sadie is most likely to pick for the article, considering that her organization needs to sell ad space, is B. Few Fish Affected by Mercury, Study Finds.
Why is the title appropriate ?The title of Sadie's investigation accurately portrays the rarity of local fish with high mercury levels. It puts forward an optimistic perspective by emphasizing the low incidence of mercury within these aquatic species, possibly sparking interest from advertisers and readers.
However, choosing option A which says No Need to Worry About Local Fish, may undermine concerns related to mercury poisoning risks in fish, hindering engagement from people and marketers alike.
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Properly addressing the customer's needs the first time they call, eliminating the need for a second call, is called ______________. * Required
Answers
There are different aspect of customer service. Properly addressing the customer's needs the first time they call, eliminating the need for a second call, is called first call resolution.
Customer relationship management (CRM)In customer relationship management (CRM), we can say that first call resolution is simply the right step taken in addressing the customer's need especially when they call in the first time.Conclusively, This helps to remove the need for the customer to be follow up on with second call and thus strengths customer relationship with the brand.
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When an accounting change is reported under the retrospective approach, prior years' financial statements are:
Answers
What do you mean by quality control ? Discuss the need for controlling quality of goods and services ?
Answers
Answer:
Explanation:
Quality control can be defined as a process by which a manufacturer or producer maintains the standard or quality of it's product.
This is to ensure that quality of the product is maintained over time and also gives room for improvement.
The need for controlling quality of goods and services:
1. It is to ensure the quality of the product does not depreciate over time.
2. To ensure little or not error is made during production process.
3. Quality control is done to ensure a great customer satisfaction.
4. It also helps to increase consumers confidence in a product.
5. Quality control gives room for improvement on the quality of a product.
What was the overall response to Cornett’s plan to put his city on a diet, both locally and nationwide? What were some things that occurred as a result of the coverage and his website.
Answers
Mayor Cornett's initiative was well received nationally and locally because he cared for the public health of citizens in an innovative way.
Who is Michael Cornett?Michael Cornett (1958) is an American politician who served as the mayor of Oklahoma City between 2005 and 2018.
During his tenure, he had an innovative and unconventional initiative that he called This City Is Going On A Diet with which he sought to establish guidelines for good nutrition and a healthy lifestyle to reduce obesity rates in the city.
In general, this initiative was well received by the inhabitants of the city who joined efforts to lose weight. Additionally, this had a positive impact at the national level since the president's wife extolled her positive work for the health of citizens.
In this program, he founded a help website for people who were interested in getting professional weight loss support. There they found healthy food options, tips and other pertinent information to help them lose weight.
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If the price of Good X rises from $4 to $5, and the quantity demanded of it falls from 200 units to 180 units, the absolute value of the price elasticity of demand, using the midpoint as the base, is:
Answers
Answer:
-0.4725
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
Midpoint change in quantity demanded = change in quantity demanded / average of both demands
change in quantity demanded = 180 - 200 = -20
average of both demands = (200 + 180 ) / 2 = 190
-20/190 = -0.105
midpoint change in price = change in price / average of both price
change in price = $5 - $4 = 1
Average of both price ($5 + $4) / 2 = $4.5
$1 / $4.5 = 0.222
-0.105 / 0.222 = -0.4725
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
0.1
define equity economics.
Answers
Answer:
Equity or Economic equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics.
Answer:
Equity or Ecomics equality is the concept or idea of fairness in economics, particularly in regard to taxation or welfare economics
With regard to participative (or democratic) leadership, identify & describe a work situation in which this management style may not be the most effective alternative for success.
Answers
Whenever a situation that need a quick decision making such as one made by a situational leader, this is an example of the aspect of participative /democratic leadership that may not be the most effective alternative for success.
What is a democratic leadership?In an organization, the Democratic leadership style is the type of leadership that redistributes power and authority between managers and their employees to promote employee involvement in organizational decision-making processes.
Most time, this democratic leadership style in an organization involves the redistribution of power and authority between employees and managers to provide employee involvement in decision making.
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You are at the checkout counter at the local supermarket, use your debit card to pay for your groceries, and select "debit" when the cashier asks "Debit or credit?" Where does the money for this purchase come from?
Answers
Answer:
the Money comes from my savings account (Bank account)
Explanation:
the debit means that the money that we use is ours.
the credit means that the money is lent to us by the bank which we have gotten the card from. Choosing debit means that the money being spent comes from our own bank account.
For each statement about Direct Competition and Indirect Competition,
choose True or False.
Indirect Competition is a
business whose services are
different from yours but
satisfy the same need.
All Companies that sell
goods and services are
Indirect Competitors.
When your target audience
buys products from a
competitor instead from
you, that is Indirect
Competition.
Direct Competition is a
company that offers
the same thing you
offer.
1. True
2. False
Answers
Answer:
Explanation:
1) Indirect Competition is a business whose services are different from yours but satisfy the same need.
True
2) All Companies that sell goods and services are Indirect Competitors.
False
3) When your target audience buys products from a competitor instead from you, that is Indirect Competition.
False
4) Direct Competition is a company that offers the same thing you offer.
True
If I travel to New York City from Boca Raton every weekend for 10 years, I am still considered a tourist in New York City.
Answers
Answer:
Yes
Explanation:
Yes, in any State or Country that you are not a permanent resident in you would be considered a tourist. In this scenario, you are a permanent resident of Boca Raton, Florida and only visiting New York City on weekends. Regardless of how frequent, since you are not a permanent resident and only travel on weekends to see the city or have fun then in the eyes of the law you are technically a tourist in the city.
In two to three sentences, answer the following: What is the most important information you need to receive a stock quote? What information you can obtain from a stock quote?
Answers
A timestamp is the most important information you need to receive a stock quote.
The time-stamp that indicates how old the market quote is probably the most crucial element to pay attention to. The day's peak and lowest point, amount, and occasionally the 52-week maximum and low are other significant bits of knowledge that a stock quotation displays. The market value of a stock as it is quoted on a securities exchange is known as a stock quotation.
A fundamental quotation for a particular stock gives details such the bid and ask prices, last exchanged price in and volume traded. Even if a stock's value might climb without considerable earnings growth, its ability to continue rising depends on its P/E ratio.
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e) Two TV movies starts at 8 p. m. One channel airs commercial breaks every 12 minutes and the other channel airs the commercial breaks every 15 minutes. At what time will both the channels start commerc breaks at the same time?
Answers
Answer:
9pm.
Explanation:
Answer:
We need to find the least common multiple (LCM) of 12 and 15 to determine when both channels will start commercial breaks at the same time.
The multiples of 12 are: 12, 24, 36, 48, 60, ...
The multiples of 15 are: 15, 30, 45, 60, ...
So, the LCM of 12 and 15 is 60.
This means that both channels will start commercial breaks at the same time after 60 minutes.
The movies started at 8 p.m., so both channels will start commercial breaks at 9 p.m.
Explanation:
What effect would an increase on the factors of production (higher worker wages) have on the quantity of a product in a Supply curve?
I don’t understand
Answers
The effect that an increase on the factors of production (higher worker wages) have on the quantity of a product in a Supply curve is: A. the curve would shift from the right to left (S1 to S2) due to the negative impact.
What is supply curve?The supply curve can be defined as the curve that help to show or display the relationship between price of goods and services and the amount amount demanded at a particular period of time.
Based on the given graph the effect that an increase on the factors of production will tend to have on the quantity of a product in a Supply curve is that the curve would shift from the right to left.
Therefore the correct option is A.
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Why should you begin a case analysis with a financial analysis? When are other approaches appropriate?
Answers
A case analysis should start with a financial analysis because it shows how significant the problem is for a company. The primary goal of a business is to make money. studying the firm's total success is thus achievable through studying its financial performance.
A financial analysis will not only help you understand your company's financial health, determining its creditworthiness, profitability, and ability to generate money, but it will also provide you a more in-depth look at how well it functions internally. Horizontal analysis, vertical analysis, ratio analysis, trend analysis, and cost-volume profit analysis are the five most popular approaches to financial statement analysis. Each method enables the creation of a more thorough and sophisticated financial profile.
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