The Lawrence Company records its trade accounts payable net of any cash discounts. At the end of 2016, Lawrence had a balance of $300,000 in its trade accounts payable account before any adjustments related to the following items: 1. Goods shipped to Lawrence FOB shipping point were in transit on December 31. The invoice price of the goods was $50,000, with a 2% discount allowed for prompt payment. 2. Goods shipped to Lawrence FOB destination on December 29 arrived on January 2, 2017. The invoice price of the goods was $9,000, with a 4% discount allowed for payment within 20 days. 3. On December 10, Lawrence had recorded a shipment received. The recorded invoice price was $24,750, net, with a 1% discount allowed for payment within 14 days. At the end of the year, payment had not been made. At what amount should Lawrence report trade accounts payable on its December 31, 2016 balance sheet
Answers
Answer:
The Lawrence Company
The amount that Lawrence should report trade accounts payable on its December 31, 2016 balance sheet is:
= $349,000.
Explanation:
a) Data and Calculations:
Trade accounts payable balance on December 31, 2016 = $300,000
1. Shipment at FOB Shipping point at $50,000(2% discount) 49,000
2. Shipment at FOB destination on December 29 (Jan. 2) 0
3. Already recorded invoice of $24,750 (with 1% discount) 0
Total value of accounts payable balance on December 31 $349,000
Related Questions
what is the minimum wage for SA
Answers
the new National Minimum Wage for South Africa has been made public by the Department of Employment and Labour. Starting on March 1st, 2023, the current minimum wage of R23,19 per hour will increase to R25,42 per hour (an increase of around 9,6%).
The minimal amount of compensation that an employer is compelled to pay wage earners for the job completed during a particular period, which cannot be reduced by a collective agreement or an individual contract, is referred to as the "minimum wage."The South African government may impose penalties on employers who fail to pay the minimum wage. If a defined weekly wage is used, the monthly wage is multiplied by 4.33. If an hourly rate is specified, it is computed as 4.33 times the weekly average.
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Say you bought a share of Sun Microsystems for $100 and a share of Cisco for $10. The price of each is currently $15. Assuming taxes are not an issue, which would you sell if you need $15?
Answers
If the "Average Speed of Answer" (ASA) during a particular period is 45 seconds, and the
"Average Time Before Abandon" is 25 seconds, what will probably happen to the
"Abandon Rate" (ABR) during that period?
Answers
If the Average Speed of Answer (ASA) during a particular period is 45 seconds, and the Average Time Before Abandon (ABR) is 25 seconds, then the Abandon Rate (ABR) will probably increase during that period.
How to explain the informationThis is because callers are more likely to abandon a call if they have to wait longer than 25 seconds for an agent to answer.
The ASA is the average amount of time it takes for an agent to answer a call. The ABR is the percentage of calls that are abandoned before an agent answers. A high ABR can indicate that callers are having difficulty getting through to an agent, which can lead to customer dissatisfaction.
There are a number of things that can be done to improve the ASA and reduce the ABR, such as Increasing the number of agents available to answer calls
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i. QUESTION THRee Consider the below information which reflects the changes in prices and quantities of each individual good in hypothetical economy. PRICES ii. ITEM Cotton Clothes Soft drinks QUANTITIES ITEM Cotton Clothes Required Soft drinks 2021 Tsh. 10 Tsh. 20 Tsh. 30 2021 200 400 600 2022 Tsh. 20 Tsh. 24 Tsh. 50 2022 250 450 650 2023 Tsh.14 Tsh.26 Tsh.48 2023 300 500 700 Compute the Consumer Price INDEX for year 2021, 2022 and 2023 using a base year. Determine the percentage increase of inflation from 2022 to 2023.
Answers
Answer:
To compute the Consumer Price Index (CPI) for the given years, we will use 2021 as the base year. The CPI measures the average price changes of a basket of goods and services over time.
Step 1: Calculate the total expenditure for each year using the base year prices:
2021: (Tsh.10 * 200) + (Tsh.20 * 400) + (Tsh.30 * 600) = Tsh.20,000 + Tsh.80,000 + Tsh.180,000 = Tsh.280,000
2022: (Tsh.10 * 250) + (Tsh.20 * 450) + (Tsh.30 * 650) = Tsh.25,000 + Tsh.90,000 + Tsh.195,000 = Tsh.310,000
2023: (Tsh.10 * 300) + (Tsh.20 * 500) + (Tsh.30 * 700) = Tsh.30,000 + Tsh.100,000 + Tsh.210,000 = Tsh.340,000
Step 2: Calculate the CPI for each year using the formula:
CPI = (Total expenditure in the given year / Total expenditure in the base year) * 100
CPI for 2021 = (Tsh.280,000 / Tsh.280,000) * 100 = 100
CPI for 2022 = (Tsh.310,000 / Tsh.280,000) * 100 = 110.71
CPI for 2023 = (Tsh.340,000 / Tsh.280,000) * 100 = 121.43
Step 3: Calculate the percentage increase of inflation from 2022 to 2023:
Percentage increase = ((CPI in 2023 - CPI in 2022) / CPI in 2022) * 100
Percentage increase = ((121.43 - 110.71) / 110.71) * 100 ≈ 9.68%
Therefore, the Consumer Price Index for 2021, 2022, and 2023 using 2021 as the base year is 100, 110.71, and 121.43, respectively. The percentage increase of inflation from 2022 to 2023 is approximately 9.68%.
Which of the following supports a business strategy that incorporates the key
operational capability of flexibility?
O Utilizing specialized, automated equipment for consistent product buildup
O Using electronic tools to improve customer communications
Having high quality standards for suppliers
O Reducing labor and shelving costs
O Maintaining excess production capability
Answers
Business strategy that incorporates the key operational capability of flexibility is utilizing specialized, automated equipment for consistent product buildup.
Thus, the correct option is A.
What is Business strategy?
A business strategy explains the precise methods through which a company intends to position itself, accomplish its short- and long-term objectives, and expand over time.
A plan outlining how a corporation will accomplish its objectives is known as a business strategy. Although there are many distinct business strategies, cost leadership, differentiation, and focus are a few typical examples.
Cost, quality, distribution, technology, and intellectual property are the only five corporate tactics (IP). These five concepts, or a mixture of them, form the basis of all corporate strategy. Focusing your business on just one thing is generally the simplest to implement.
A strategy is essentially just a hypothesis. For a strategy to be effective, the issue that needs to be resolved must be accurately diagnosed, a guiding policy must be established to handle the issue, and a set of cogent actions must be proposed to carry out the policy.
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Swola Company reports the following annual cost data for its single product. Normal production level 75,000 units Direct materials $ 1.25 per unit Direct labor $ 2.50 per unit Variable overhead $ 3.75 per unit Fixed overhead $ 300,000 in total This product is normally sold for $25 per unit. If Swola increases its production to 200,000 units, while sales remain at the current 75,000 unit level, by how much would the company's income increase or decrease under variable costing
Answers
Answer:
An increase in production generates no change in income.
Explanation:
Under variable costing, the invariable costs are direct material, direct labor, and variable overhead. Therefore, an increase in production generates no change in income.
Current income:
Contribution margin= 75,000*(25 - 7.5)= $1,312,500
Fixed overhead= (300,000)
Net operating income= 1,012,500
Hypothetical income:
Contribution margin= 75,000*(25 - 7.5)= $1,312,500
Fixed overhead= (300,000)
Net operating income= 1,012,500
Income varies if the unitary variable components change. A supplier offers a discount on materials or the labor gets more efficient due to the learning curve.
The office manager of ABC company has the authority to the whole financial operations. He authorizes activities, controls the company’s expenses, records the company’s transactions, and rarely takes vacation?
The owners of the company are happy with his work since the company is making a profit. You are giving the opportunity to educate the owners about the risk of not implementing internal control. What would be your advice? (2
Q3. At the end of the month, XYZ company’s bank statement is different from the cash book balance. How would the company do the bank reconciliation? (
Answers
The risk of not implementing internal control is that it can lead to unethical practices in the workplace.
Internal control refers to the process for assuring the objectives of an organization in operational efficiency and effectiveness. Reliable financial reporting and compliance with laws are vital in internal control.
The risk of not implementing internal control is that it can lead to unethical practices. Also, since there isn't any review of the work done by the financial manager, and this can be risky for the company. This can lead to fraudulent activities.
Since the bank statement is different from the cash book balance, the bank can reconcile this by getting the bank records. This can be done through the checking of appropriate debit and credit transactions in the bank records.
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Based on your evaluations on entrepreneurial mindset, summarize your level of need for achievement, individualism, control, focus, and optimism. What strategies and tactics could enhance these in the next 6 months
Answers
Answer:
The need for achievement is necessary for all. The person should have achievable tasks to be motivated at work. Individualism is based on self reliance and introvert. It is important as it brings out creative mind sets into implementation. The control is required for employees as they will be rewarded based on their efficiency of their assigned tasks. Every employee should be focused on their own tasks. Optimism is important as all the employees should have focus on their tasks and believe that its fruits will be achieved in future.
Explanation:
The business success is all dependent on its employees and staff. The business strategy should be set in order to keep employees motivated with focus on business growth. The employees should be given achievable weekly or monthly tasks and they should be praised if they stand out from others. Incentives should be given to those employees who complete their assigned tasks with extra ordinary efficiency. This will keep them motivated and other employees will also work hard to prove themselves.
Why is it important to consider your education, hobbies, personality traits and corporations affect your decision to start a business based on your personal attributes and qualities? n
Answers
While coming up with a business idea, crucial to take into account one's background, interests, personality, professional experience, the sustainability of enterprise depends on individual came up the concept.
Why are character attributes deemed crucial for business owners?Entrepreneurs that are knowledgeable and skilled tend to be more confident. They can listen to other people's viewpoints without feeling scared thanks to their confidence. Entrepreneurs should be very creative and innovative. Being resilient in spite of setbacks or difficulties enables you to keep going and try again till you win. This is among the qualities that are most crucial for success since it prevents individuals from giving out on their ambitions.
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Which of the following is an example of nonverbal communication?
Answers
Answer:
Some examples of Nonverbal: Facial expressions. The human face is extremely expressive, able to convey countless emotions without saying a word, Body movement and posture, Gestures, Eye contact, Touch, Space, Voice, Pay attention to inconsistencies.
Explanation:
Nonverbal communication refers to gestures, facial expressions, tone of voice, eye contact (or lack thereof), body language, posture, and other ways people can communicate without using language.
Answer: INCOMPLETE QUESTION
Which of the following is an example of effective nonverbal communication?
A. Remaining close to the person's face when relaying a message.
B. Using a chart to point to text and images.
C. Avoiding facial expressions like frowning or nodding.
D. Paying attention to what's going on in the room.
The answer is B for A-P-E-X users.
Identify one supply or demand shifting factor that the community could have some control over or do something about
Answers
One supply or demand shifting factor that the community could have some control over is consumer preferences and behaviors.
1. Consumer Education: The community can actively engage in educating consumers about the benefits of certain products or services. By providing information on the positive impacts of choosing certain goods or services, consumers may shift their preferences towards those options, influencing the demand.
2. Marketing and Advertising: Local businesses and organizations can collaborate to promote goods and services that align with the values and preferences of the community. Effective marketing strategies can influence consumer demand and encourage them to choose specific products, thereby shifting the demand curve.
3. Support for Local Producers: Community members can actively support local producers and businesses by purchasing their goods and services. By creating a demand for locally sourced products, the community can influence supply chain dynamics and encourage businesses to cater to their preferences.
4. Sustainable Practices: Promoting sustainable practices within the community can also have an impact on supply and demand. By advocating for eco-friendly products and services, such as renewable energy or ethically sourced goods, the community can create a shift in consumer demand, influencing businesses to adjust their supply accordingly.
5. Collaboration with Local Authorities: The community can collaborate with local authorities to enact policies that align with their preferences. For example, advocating for stricter environmental regulations or supporting initiatives that promote fair trade can influence both supply and demand factors.
By actively engaging in these steps, the community can exert some control over consumer preferences and behaviors, thereby shifting the supply and demand dynamics in their favor.
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What is the difference between final goods and intermediate goods?
Answers
A) Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use.
B) Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods.
Final goods and intermediate goods are terms used in economics to distinguish between different types of goods in the production process. Here's a breakdown of the difference between the two:
1. Final Goods:
Final goods are goods that are purchased by the end-consumer or user for their personal consumption or use. These goods are ready for consumption and do not undergo further processing or transformation before reaching the final consumer. Examples of final goods include food products, clothing, electronics, furniture, and vehicles. Final goods are the end result of the production process and are intended for final consumption or use.
2. Intermediate Goods:
Intermediate goods, on the other hand, are goods that are used as inputs in the production of other goods. They are not intended for final consumption but are instead used as raw materials, components, or capital goods in the production process. Intermediate goods undergo further processing or transformation before being included in the final goods. Examples of intermediate goods include raw materials like steel or wood, components like circuit boards or engines, and machinery or equipment used in production.
The key distinction between final goods and intermediate goods lies in their purpose and stage in the production process. Final goods are produced for the ultimate satisfaction of consumers' needs and are ready for consumption, while intermediate goods are used in the production of other goods and undergo further processing.
It's important to note that when calculating a country's Gross Domestic Product (GDP), only the value of final goods is considered. Intermediate goods are excluded to avoid double-counting, as their value is already included in the final goods they contribute to. By focusing on final goods, GDP provides a measure of the value of goods and services produced for final consumption in an economy.
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why is it important to do research to locate appropriate work or study and funding opportunities from various sources (inclusing online)before making the final decision
Answers
It is very important to do research to known the level of work or study and funding opportunities from various sources before making the final decision due to the fact that when you don't know the above and you start your research, when you encounter problem halfway such as lack of funds, it may lead to one abandoning the project completely.
Why do one need research funding?Research funding is known to be a key part of conducting any form of research.
Conclusively, For one to be able to have a research grant is said to be a matter of name for a researcher and it also helps in the growth of one's career.
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You are a student with a demanding schedule of classes. You also work part time and your supervisor allows you to determine your schedule. In this situation, your scarce resource is time . In this situation, you will work: enough to earn some money but not too much to jeopardize your grades. very little so you can enjoy school. enough hours to get the money to pay for school. as much as your boss demands and hope your grades do not suffer.
Answers
Answer:
enough to earn some money but not too much to jeopardize your grades
Explanation:
Since your scarce resource is time you need to create a balance between all the tasks, so much so that you are able to benefit from all of the tasks but not substitute one for another. Therefore in this situation, you will work enough to earn some money but not too much to jeopardize your grades. That way you are able to make money to pay for most (if not all) of your expenses but at the same time, you are still making sure you are benefiting from school and not wasting your time in school by not being able to graduate.
Manton Manufacturing applies manufacturing overhead costs to products at a budgeted indirectminuscost rate of $ 90 per direct manufacturing laborminushour. A retail outlet has requested a bid on a special order of the Toy Bear product. Estimates for this order include: Direct materials of $ 75 comma 000; 680 direct manufacturing laborminushours at $ 30 per hour; and a 40% markup rate on total manufacturing costs. Manufacturing overhead cost estimates for this special-order total ________.
Answers
Answer:
Allocated MOH= $61,200
Explanation:
Giving the following information:
Predetermined overhead rate= $90 per direct labor-hour.
Estimates for this order include:
direct labor-hours= 680
To allocate overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 90*680= $61,200
An exchange economy has two consumers, named Jimmy and Sue, and two commodities, apples and bananas. Jimmy’s initial endowment is 2 units of apples and 4 unit of bananas. Sue’s initial endowment is 4 apples and 4 units of bananas. Jimmy’s utility function over apples and bananas is U(AJ, BJ) =AJ1/2 BJ1/2. Sue’s utility function is of the form U(AS, BS) =AS+BS, where AJ and BJ are the amounts of apples and bananas for Jimmy and AS and BS are amounts of apples and bananas for Sue.The equation of the contract curve in terms of Jimmy’s coordinates is:________
a. BJ= 2AJ
b. BJ=(A2J)/2
c. BJ=AJ
d. BJ= (8AJ)/(1+AJ)
e. None of the above
Answers
Answer:
(a) BJ = AJ
In equilibrium, apples and bananas have the same price.
Jimmy’s consumption bundle must be 3 apples and 3 bananas
i just did this
Explanation:
mrk me brainliest pleasee
A change in the estimated useful life and residual value of machinery in the current year is handled as:
Answers
Answer: change in accounting estimate
Explanation: a change in estimate can occur when the company change the estimate used to calculate depreciation. As such, it requires a prospective application accounting treatment meaning the affect of the change on depreciation is only for the current and future years only.
If I buy 4 books and 2 pens. 4 books: $14.29, $14.29, $13.29, and $9.29. Pens: $3.99 and $5.99. And I gave $60.00. The cashier gave me 32 cents back. Did the cashier give me the right amount of cash back?
(No need to add tax because for the 4 books and 2 pens already has tax added.)
Answers
Yes, the cashier gave the exact amount of money.
$60.14 ($14.29 + $14.29 + $14.29 + $13.29 + $9.29 + $3.99 + $5.99) is the total price of the items. The cashier gave have to return $0.14 in change if the customer had given $60.00. The client was due more change, so the clerk gave them 32 cents back instead.
This indicates that the cashier gave the appropriate amount of money and even provided extra change. Debit card cashback is a service that is available to retail customers. It involves adding money to the transaction's total purchase price and giving the customer the extra cash at the point of sale.
As a result, the significance of the cashier give me the right amount of cash back are the aforementioned.
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Bob lives in Houston and runs a business that sells boats. In an average year, he receives $842,000 from selling boats. Of this sales revenue, he must pay the manufacturer a wholesale cost of $452,000; he also pays wages and utility bills totaling $301,000. He owns his showroom; if he chooses to rent it out, he will receive $38,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Bob does not operate this boat business, he can work as an accountant, receive an annual salary of $48,000 with no additional monetary costs, and rent out his showroom at the $38,000 per year rate. No other costs are incurred in running this boat business.
Identify each of Darnell's costs as an implicit cost or an explicit cost of selling pianos.
a. The wholesale cost for the pianos that Darnell pays the manufacturer
b. The salary Darnell could earn if he worked as an accountant
c. The wages and utility bills that Darnell pays
d. The rental income Darnell could receive if he chose to rent out his showroom
Answers
Answer:
A. The wholesale cost for the pianos that Darnell pays the manufacturer.
Cold Goose Metal Works Inc. just reported earnings after tax (also called net income) of $9,000,000 and a current stock price of $34.00 per share. The company is forecasting an increase of 25% for its after-tax income next year, but it also expects it will have to issue 2,500,000 new shares of stock (raising its shares outstanding from 5,500,000 to 8,000,000).
If Cold Goose’s forecast turns out to be correct and its price/earnings (P/E) ratio does not change, what does the company’s management expect its stock price to be one year from now? (Round any P/E ratio calculation to four decimal places.)
One year later, Cold Goose’s shares are trading at $48.36 per share, and the company reports the value of its total common equity as $46,768,000. Given this information, Cold Goose’s market-to-book (M/B) ratio is _____?
Can a company’s shares exhibit a negative P/E ratio?
Which of the following statements is true about market value ratios?
1. Low P/E ratios could mean that the company has a great deal of uncertainty in its future earnings.
2. High P/E ratios could mean that the company has a great deal of uncertainty in its future earnings.
Answers
Answer:
1. $29.19
2. 8.27
3. Yes
4. The Companies with high research and development (R&D) expenses tend to have high P/E Ratios is the statement that is TRUE
Explanation:
1. Calculation for what the company’s management expect its stock price to be one year from now
First step is to calculate for the Current situation using this formula
Earnings per Share = Net Income / Shares Outstanding
Let plug in the formula
Current Earnings per Share = 9,000,000 / 5,500,000
Current Earnings per Share = $1.63
Second is to calculate for the Current P/E
Current P/E Ratio = 34 per share / 1.63
Current P/E Ratio = 20.85 times
Third step is to calculate for the Proposed Situation:
Proposed Net Income = $9,000,000 * 1.25
Proposed Net Income = $11,250,000
Fourth step is to calculate for the Proposed Earnings per Share
Proposed Earnings per Share = $11,250,000 / 8,000,000
Proposed Earnings per Share = $1.40
Last step is to find the P/E Ratio using this formula
P/E Ratio = Price per Share / Earnings per Share
Let plug in the formula
20.85 = Price per Share / 1.40
Price per Share =$20.85×$1.40
Price per Share= $29.19
Therefore what the company’s management expect its stock price to be one year from now will be $29.19
2. Calculation for Cold Goose’s market-to-book (M/B) ratio
Using this formula
Market to Book Ratio (M/B) = Market Value / Book Value
First step is to find the Market value
Market Value = $48.36 per share× 8,000,000
Market Value = $386,880,000
Second step is to calculate for the Market to Book Ratio (M/B) using this formula
Market to Book Ratio (M/B) = Market Value / Book Value
Let plug in the formula
Market to Book Ratio (M/B) = $386,880,000 / $46,768,000
Market to Book Ratio (M/B) = 8.27
Therefore Cold Goose’s market-to-book (M/B) ratio is 8.27
3. Yes a company’s shares can exhibit a negative P/E ratio in a situation where the Company incur a net loss.
4. The statements that is TRUE about market value ratios is :
The Companies with high research and development (R&D) expenses tend to have high P/E Ratios.
Please help me with this i will give brainlist
Answers
Explanation:
this is the pdf
what is your question?
Help me with this please.
They are individuals or entities having a
certificate of indebtedness issued by a
corporation as evidence of their
investment
A. Debtors
B. Board of Directors
C. Creditors
D. Employees
Answers
Answer:
creditors should be the answer
What situation best illustrates the role of businesses in the circular flow of goods?
A. A taxi driver take a group of students to the airport.
B. A website sells the products made by many different companies.
C. A company makes a new line of kitchen appliances.
D. A factory produces steel used in cars and trucks.
Answers
A company makes a new line of kitchen appliances is the situation best illustrates the role of businesses in the circular flow of goods. Thus, option (c) is correct.
What is businesses?The term “business” refers to earning a benefit. The business is taking the risk and gaining the benefit. The business is in the main concentrated on the activities of the creative activity, organization, and merchandising of concepts.
A process of the businesses in the circular flow of goods. It was the market situation basis to create the new line of products on such as kitchen appliances. It was the different from their usual production line.
As a result, the significance of the company makes a new line of kitchen appliances are the role of the businesses are the aforementioned. Therefore, option (c) is correct.
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The essence of successful marketing is that provide unique value in order to gain
Answers
The essence of successful marketing is that provide unique value in order to gain loyal customers.
What is marketing?Most of the time, the seller, who is typically a manufacturer or merchant, is in charge of marketing. There may be times when tasks need to be completed by a specialized marketing firm or advertising agency. Less frequently, a trade organization or government agency will advocate for a complete economic sector, a specific place, frequently a food item, food from a particular region, or a city or area as a tourism destination. Consumers or other businesses (B2B marketing) may be the target market for a marketer's products (B2C marketing). The marketing mix, which outlines the particulars of the product and how it will be marketed, is influenced by the environment in which the product is sold, the results of market and marketing research, and the characteristics of the product's target market.
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Fringe benefits are always part of an employee's cash compensation package.
True or False
Answers
Answer:
False.
Explanation:
Fringe benefits can be defined as series of additional benefits that are being offered by an employer to his or her employees. This benefits are usually non-cash compensations and as such completely different from the agreed-upon amount of money that the employees receive at regular intervals.
Hence, fringe benefits are always part of an employee's non-cash compensation package.
Some examples of fringe benefits are paid vacation, official cars, health insurance, social security, gym membership, free breakfast or lunch, transportation, housing, etc.
You have just received an offer in the mail from Friendly Loans. The company is offering to loan you $4,500 with low monthly payments of $80 per month. If the interest rate on the loan is an APR of 14.3 percent compounded monthly, how long will it take for you to pay off the loan
Answers
Answer:
It takes 8 years 4 months to pay off the loan.
Explanation:
Use Time Value of Money Techniques to find N (the period it takes to pay off the Principle Amount)
Using a financial calculator, enter the data as follows
PV = $4,500
PMT = - $80 × 12 = - $960
P/YR = 1
R = 14.3 %
FV = $0
Therefore, N = 8.3020
Conclusion ;
It takes 8 years 4 months to pay off the loan.
crenshaw inc. is considering a change to activity-based product costing. the company produces two products, cell phones and tablet pcs, in a single production department. the production department is estimated to require 2,000 direct labor hours. the total indirect labor for the department is budgeted to be $480,000. time records from indirect labor employees revealed that they spent 30% of their time setting up production runs and 70% of their time supporting actual production. the following information about cell phones and tablet pcs was determined from the corporate records:
Answers
$4.8 per unit is the Rate per unit for cell phones and $5.05 per unit is the rate per unit for PC as per the given information.
The given data is as follows:
direct labor hours = 2,000
budgeted = $480,000
employees revealed spent on setting = 30%
time supporting actual production = 70%
The cost of labor per hour is calculated by using the formula
Rate per hour = Total Labor Cost ÷ Total direct labor Hours
Rate per hour = $480,000 % 2,000
Rate per hour = $240 per hour
Rate per unit for cell phones is calculated by:
= 1,875 × 240 ÷ 93,750
= $4.8 per unit
The rate per unit for PC is calculated by:
= 1,975 × 240 ÷ 93,750
= $5.05 per unit
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The complete question is
Digital Storage Concept Inc. is considering a change to activity-based product costing. The company produces two products, cell phones, and tablet PCs, in a single production department. The production department is estimated to require 3,750 direct labor hours. The total indirect labor is budgeted to be $375,000.
Time records from indirect labor employees revealed that they spent 40% of their time setting up production runs and 60% of their time supporting actual production.
The following information about cell phones and tablet PCs was determined from the corporate records:
Number of Setups Direct Labor Hours Units
Cell phones 600 1,875 93,750
Tablet PCs 1,400 1,875 93,750
Total 2,000 3,750 187,500
Determine the indirect labor cost per unit allocated to cell phones and tablet PCs under a single plantwide factory overhead rate system using the direct labor hours as the allocation base.
What main impression do you takeaway from the diversity of economies and challenges which you have read about?
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People who study economics are better able to comprehend their environment. It makes it possible for people to comprehend other people, organizations, markets, and governments, enabling them to better adapt to the challenges and possibilities that arise when circumstances change.
In what ways does economics personally affect you?Both overt and covert ways that economics influence our daily lives are present. From a personal perspective, economics shapes many of the decisions we have to make about our jobs, hobbies, spending, and savings rates. Inflation, interest rates, and economic growth are a few examples of macroeconomic patterns that have an impact on our way of life.
What does studying economics teach you?Supply and demand, perfect and imperfect competition, taxation, international trade, price controls, monetary policy, exchange rates, interest rates, unemployment, and inflation are just a few of the many topics covered in economics classes that help students understand individual markets, the overall economy, and governmental policies.
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stock price for vinyl record player?
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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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Debt Irrelevance . Companies A and B differ only in their capital structure . A is financed 30 debt and 70 % equity B is financed 10 % debt and 90 equity . The debt of both companies is risk - free . ( LO16-1 a Rosencrantz owns 1 of the common stock of A. What other investment package ( involving shares in company B ) would produce identical cash flows for Rosencrantz Guildenstern owns 2 % of the common stock of B. What other investment package ( involving shares in company A ) would produce identical cash flows for Guildenstern
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The Relevance of Debt:
A) 4.2% B) 3.4% C) 26.25% D) 19.76% E) 52.5%
Briefing: -A) The likelihood that a person resides in the West and is technologically oriented is given by the formula: P(person resides in West) x P(person residing in West is technologically oriented) = 0.21 * 0.20 = 0.042 or 4. 2%
B) The likelihood that a person lives in the Northeast and is tech-savvy: =P(person lives in the Northeast) x P(person in the Northeast is tech-savvy) = 0.20 * 0.17 = 0.034 or 3. 4% C) The likelihood that a person lives in the West given that he or she is tech-savvy: =P(person lives in the West and is tech-savvy) / P(person is technology-savvy) = 0.042 / 0.16 = 0.2625 or
D) Chances of a person residing in NE, given that he is not technologically oriented:
P(person lives in NE and is not tech-driven) = 0.20*(1-0. 17) / (1-0. 16) = 0.1976 or 19.76% P(person is not tech-driven) = 0.20*(1-0.
E) Chance that the individual does not reside in the Northeast or the West given his emphasis on technology:
P(person is technology driven) - P(person lives in NE or W and is technology driven) = (0.16 - 0.042 - 0.034) / 0.16 = 0.525 or 52.5%. P(person is technology driven) - P(person does not live in NE or W and is technology driven)
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