use the following data to determine the total dollar amount of assets to be classified as current assets.

Answers

Answer 1

The total dollar amount of assets to be classified as current assets = $596900

What is Current Asset ?

A corporation expects to use up, convert into cash, or sell a current asset, also known as a liquid asset, within one fiscal year or operational cycle.

On the other hand, non-current assets are long-term assets that are difficult to quickly turn into cash within a year.

According to the Given information

Amount of current assets = Cash + Accounts receivable + Inventory +  

                                               Prepaid insurance                

                                          = $186000 + $144000 + $172000 + $94900

                                           = $596900

So

The total dollar amount of assets to be classified as current assets = $596900

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Related Questions

What product is so uniquely valuable that despite nearly identical alternatives, it can be packaged and shipped 7,600 miles from the south pacific through the panama canal to the port of norfolk, trucked to distribution facilities, and delivered to stores throughout the east coast of the united states where it is sold for about $3?.

Answers

The product that is transported from the south pacific through the Panama, which is so uniquely available is gas(petroleum).

What is the Panama Canal?

This is a lock type Canal that is owned by the country Panama. This is a canal that helps to provide connection between the Atlantic ocean and the Pacific ocean.

The amount of oil passing through this canal is 0.85 million barrels of oil on a daily basis. Trade that occurs between the East coast of the United States in the canal makes up a great deal of traffic in the area.

Petroleum products are one of the commodities transported through the canal. The price of a liter is sold on an average of $3.5.

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You can start thinking about the intersection of government and the economy in the United States by considering your everyday life. From the time you get up in the morning until you go to bed at night, what contacts do you have with the government

Answers

Societal interactions are the foundation of social structures and cultures. People create the laws, institutions, and systems they want to live in by interacting with one another.

How you interact with government in the United States by considering everyday life?  

Your interactions with the government and your contacts are both connected to the economy in some way. You awaken at seven in the morning thanks to the alarm on your phone. The FCC controls how you can use your phone. And the E. P. A. measures the specific environmental effects of lithium batteries. Eat your breakfast, Food consumption is governed by the Department of Agriculture. The FDA similarly assesses the safety of foods using drug-based criteria.  Let's say you drive to work at nine in the morning. The roads are governed by the Department of Transportation.  The FCC, as well as the FBI and the Department of Homeland Security, which oversees threats from cyberterrorism, govern the internet that you use at work. All of these things are governed by the Department of Commerce since the commerce clause subjects commodities and commerce to Congressional inspection.  Let's say you buy lunch at noon. You learn about taxes for the first time at that time, and there are also state sales taxes. Excise taxes apply if you buy alcohol or smoke. This is just a brief preview, I guess. I've already interacted with 20 federal agencies five hours into the day.

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the motor city miracle playoff game took place on january 8, 2000, when the tennessee titans returned a kickoff for a touchdown with 16 seconds left. what team did the titans beat in that game?

Answers

In January 8, 2000, the Motor City Miracle Playoff game took place that saw the Tennessee Titans play the Buffalo Bills.

The Motor City Miracle Playoff game:

Was played between the Buffalo Bills and the Tennessee Titans Ended in victory for the Titans Saw the Titans win with 16 seconds to go

In this very intriguing game, the Buffalo Bills were well on their way to victory after they scored a field goal with 16 seconds to go. The Titans however, scored a touchdown in those mere seconds to win the game 22 - 16

In conclusion, the Tennessee Titans played the Buffalo Bills.

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the 1:10:100 rule states that if a defect is first detected during the production process, it might cost $1 to fix. a. true b. false

Answers

False, A production process is a way to use economic resources, such as labor, expensive machinery, or land, to create goods and services for customers.

What is production process?

Chemical, mechanical, and biological processes are used in industrial operations, which are often conducted on a very large scale.physical, electrical, or mechanical phases to help in the creation of an object or things. Heavy industry's essential components are industrial processes.

A production process is a way to use economic resources, such as labor, expensive machinery, or land, to create goods and services for customers.

Jobs (one-off production), batches (many items, one step at a time for all items), and flows (continuous production) are the three basic kinds of production processes (multiple items, all steps in process at once for separate items).

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Which of the following choices is not a step that can reduce your spending?
a.
eating at home, rather than dining out
b. using budgeted cash only
c. forgoing premium cable TV channels
d. purchasing reduced fat lattes during the week

Answers

the answer is d) purchasing reduced fat lattes during the week

Out of the given options, you won't reduce your spending by d. purchasing reduced fat lattes during the week.

How can we reduce spending?

The best way to reduce spending is by spending less on things that we don't need or that we can do without.

In this case, spending on fat lattes won't be a way to reduce spending because they aren't very significant.

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Entrepreneurs should not be greedy to grow big as this needs patience as well

Answers

It is important for entrepreneurs to have a growth mindset, they should not let greed and impatience cloud their judgment. Prioritizing patience and sustainable growth can help entrepreneurs build successful businesses that thrive in the long run.

The concept of "growth" is central to entrepreneurship, and many entrepreneurs strive to grow their businesses as quickly as possible. However, the pursuit of rapid growth can sometimes lead to greed, which can be detrimental to the long-term success of the business.

Entrepreneurs who are driven solely by the desire to grow quickly may make short-term decisions that sacrifice the long-term health of the business. They may prioritize revenue growth over profitability, take on too much debt, or neglect the needs of their employees and customers.

In contrast, entrepreneurs who prioritize patience and sustainable growth are more likely to build successful businesses that can weather the ups and downs of the market. They focus on building a solid foundation for their business, nurturing relationships with customers and employees, and making strategic decisions that prioritize long-term success over short-term gains.

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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must

Answers

When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.

This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.

To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.

Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.

Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.

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Sdj, incorporated, has net working capital of $2,630, current liabilities of $5,970, and inventory of $3,860. a. what is the current ratio?

Answers

Sdj, incorporated, has net working capital of $2,630, current liabilities of $5,970, and inventory of $3,860, then the current assets ratio will be 1.440 times.

Net working capital is termed as the difference between the current assets of a business as well as its current liabilities and it is calculated using a line of items from the balance sheet of the business.

Current liabilities are settled using current assets typically which are assets that are used up within the limit of one year and it includes accounts payable, short-term debt, dividends, and notes payable as well as owed income taxes.

Inventory refers to the list of all the items, goods, merchandise as well as materials held by a business to earn a profit for selling in the market.

Given a working capital value=$2630

The value of current liabilities=$5970

We can get the value of current assets, CA= Working capital + Current liabilities

=2630+5970

=8600

Therefore, current assets=8600$

The ratio of current assets=(Current Assets)/(Current Liabilities)

=8600/5970

=1.440

Therefore, the ratio of current assets will be 1.440 times.

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As Manager-on-Duty (MOD), Marta wants to focus the efforts of the engineering department on handling possible problems caused by the impending snowstorm. What might this entail?

Answers

The responsibility of a manager on duty is to supervise business activities within a store or a specific department, guaranteeing effective staff performance.

What is a Manager?

The original understanding of managers defines a manager as anyone who oversees the operations of individuals. Simply, managers oversee the operations of others to accomplish objectives. In the modern workplace, managers could be in control of systems or particular functions which does not include human individuals.

The majority of managers also tend to be leaders, but only if they Suitably perform the Government. Governance Managerial Functions, Which Would include communication, motivation Supplying Inspiration, And Unfortunately, not all middle managers.

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Which image format is good for compressing large, complex images like photos into smaller file sizes? A. GIF B. JPEG C. ODG D. DRAW

Answers

Answer: JPEG

Explanation:

JPEG is an acronym that stands for Joint Photographic Experts Group. It is typically used to compress large files sizes into smaller sizes. This enables images to be shared easily. It should be noted that apart from reducing the format size of the image, it also reduces the image quality.

GIF is an acronym for Graphics Interchange Format. It is also used to compress large image files but doesn't compress it as much as a JPEG will do. It also supports animation.

Answer:

B. jpeg :)

Explanation:

A 3rd degree burn has burnt only part of the epidermis. the epidermis only. the epidermis and dermis. the epidermis and part of the dermis.

Answers

A 3rd degree burn has burnt the epidermis and part of the dermis. Option 3 is the correct answer.

A 3rd degree burn is a severe burn that extends through the entire thickness of the skin. In a 3rd degree burn, the epidermis, which is the outermost layer of the skin, and part of the dermis, which is the layer beneath the epidermis, are affected. This type of burn destroys the full thickness of the epidermis and can extend into the deeper layers of the dermis.

The epidermis serves as a protective barrier for the body, preventing the entry of harmful substances and pathogens. It also helps regulate body temperature and plays a role in the production of vitamin D. The dermis provides structural support, contains blood vessels, nerve endings, sweat glands, and hair follicles.

Due to the severity of the injury, 3rd degree burns often require medical intervention and specialized treatment. They can result in extensive tissue damage, loss of sensation, and impaired healing. Treatment may involve surgical interventions, such as skin grafting, to promote healing and minimize the risk of infection. Rehabilitation and long-term care are often necessary to manage the physical and psychological effects of a 3rd degree burn.

Hence, option 3 is the right choice.

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what is the impact of coke on the local community where it is produced

Answers

The impact of Coke, a multinational beverage company, on the local community where it is produced can vary depending on several factors. These factors include the company's business practices, employment opportunities, community engagement initiatives, environmental footprint, and overall contribution to the local economy. The impact can be both positive and negative, with potential benefits such as job creation and economic development, as well as concerns regarding environmental sustainability and public health.

Coke's impact on the local community where it is produced can be significant and multifaceted. On the positive side, the company's operations can contribute to job creation and economic growth by providing employment opportunities, both directly and indirectly through its supply chain. This can stimulate local economies and improve the standard of living for individuals and families in the community. Additionally, Coke may invest in community engagement initiatives, supporting local organizations, projects, and events that enhance the social fabric and quality of life.

However, there are also potential negative impacts to consider. Coke's manufacturing processes and supply chain activities may have environmental consequences, such as the consumption of water resources, production of waste, and emissions of greenhouse gases. These impacts can affect the local ecosystem, natural resources, and overall environmental sustainability. Additionally, concerns have been raised about the health effects of consuming sugary beverages, including those produced by Coke, and their contribution to public health issues such as obesity and related diseases.

To mitigate and address these potential negative impacts, companies like Coke are increasingly focusing on corporate social responsibility and sustainability efforts. This includes adopting environmentally friendly practices, reducing carbon emissions, implementing water conservation measures, and supporting community development projects. By actively engaging with the local community and stakeholders, Coke can work towards minimizing its negative impact and maximizing positive contributions to the areas where it operates.

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All of the following are examples of the food and beverage industry
except
-school cafeteria
-McDonald's inside a Walmart
-restaurant inside a shopping mall
-travel agency

Answers

Answer:

-travel agency

Explanation:

The food and beverage industry is made up of establishments whose core business is preparing meals, snacks, and beverages as per customers' orders for immediate consumption in or off the premises. A school cafeteria, McDonald's inside a Walmart, and restaurant inside a shopping mall will fit into the food and beverage industry's definition.

A travel agency is best placed in the tours and travels industry.

how can auditors determine a company’s true ""tone at the top""?

Answers

Auditors can determine a company's true "tone at the top" by evaluating the organization's leadership, culture, and commitment to ethical practices. This involves examining the actions, policies, and communication of the company's top management, which often sets the stage for the overall business environment.

One way auditors can assess the tone at the top is by conducting interviews with senior management and board members, focusing on their perspectives regarding ethical behavior, risk management, and adherence to laws and regulations. These interviews provide insights into the organization's values and priorities, revealing any potential red flags.

Additionally, auditors can review the company's code of conduct, ethics policies, and internal control framework. A well-drafted code of conduct should outline the company's commitment to ethical practices, setting clear expectations for all employees. The presence of a robust internal control framework demonstrates the management's dedication to upholding accountability and transparency.

Auditors can also analyze training programs and employee evaluations to gauge the emphasis placed on ethical conduct. Regular training sessions that address ethical dilemmas and proper decision-making are indicative of a strong tone at the top.

Lastly, auditors can observe employee behavior and review any instances of misconduct. A company with a true commitment to ethical leadership will have a lower incidence of fraudulent activities and employees will be more inclined to report unethical behavior.

In summary, auditors can determine a company's true "tone at the top" by examining leadership's actions and communication, reviewing policies and internal controls, and evaluating employee behavior and training programs. A strong tone at the top fosters a culture of ethical practices, risk management, and compliance, which is crucial for a company's long-term success.

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Mass customization would most affect which feature of Porter's Five Forces Model?
Group of answer choices
A. bargaining power of suppliers
B. economies of scale
C. product differentiation
D. distribution channel

Answers

Mass customization would most affect the feature of product differentiation in Porter's Five Forces Model. Correct option is C.

This can make it more difficult for competitors to imitate the product and thus reduce the threat of new entrants. Mass customization allows for the production of unique products tailored to individual customer needs, which can increase the level of product differentiation and reduce the competition between firms. However, mass customization may also increase the bargaining power of suppliers, as they may need to provide more specialized materials and components for the customized products. Mass customization makes it possible to create one-of-a-kind items that are fitted to each customer's wants, which can boost product distinction and lessen firm competition.

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True/False. The philanthropic perspective of the economic model holds that business has no strict obligation to contribute to social causes.

Answers

It is true, from the philanthropic perspective of the economic model, companies have no strict obligation to contribute to social causes.

What is a philanthropic perspective?

The philanthropic perspective of the economic model dictates that companies have no strict obligation to contribute to social causes. truth. Legislators created business forms called corporations to encourage people to engage in business activities.

What is Philanthropic Corporate Responsibility?Philanthropic responsibility refers to a company's intentions, goals and objectives to positively improve society as a whole.A big aspect of corporate philanthropy is funding philanthropic activities within the local community from corporate profits. Often in the form of trusts or donations.

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As a producer, you are willing to supply the most goods at the highest price. This is because the highest
price earns you the

most demand
highest costs
most profits

Answers

Answer: most profits

Explanation:

The answer is C. The most profit

Lisi Crichton operates a variety store. Her brother does custom welding and made some racks to hold videos. Lisi gave her brother $5,000 cash and did not get a bill. A similar rack was on display at a department store for $1,000. You are told to book an expense on the company financial statement for $5000. What will you book the amount for?

Answers

Answer:

$1,000

Explanation:

Fixed assets must be recorded at historic cost or purchase value. Their valuation is not affected by changes in market values, e.g. land might appreciate over time, but its historic cost will be used for accounting purposes.

In this case, Lisi doesn't have a bill to show the price of the rack, and since she paid in cash, she has no way of proving what she actually paid for it. In this case, in order to record the purchase of the rack you must use the fair market value of similar racks.

Imagine if someone could just say that they purchased things at X price but didn't get a bill, soon people would be recording buying pencils at $500 each because they are gorgeous and perfectly crafted.

If the seller's broker in a transaction earned a commission of $18,250, what was the final sales price of the property, assuming he/she earned a commission rate of 6%...?

Answers

Answer:

$304,167

Explanation:

The seller's broker earned a commission of $18,250 in a transaction

The commission rate is 6%

= 6/100

= 0.06

Let y represent the final sales price of the property

Therefore, the final sales price of the property can be calculated as follows

0.06y= $18,250

y= $18,250/0.06

y= 304,167

Hence the final sales price of the property is $304,167

the following data relate to direct labor costs for the current period: standard costs 7,500 hours at $11.70 actual costs 6,000 hours at $12.00 ​ what is the direct labor time variance? group of answer choices $17,550 favorable $17,550 unfavorable $18,000 favorable $18,000 unfavorable

Answers

The direct labor time variance is $17,550 favorable if the standard costs 7500 hours at $11.70 and the actual costs 6000 hours at $12.00

Labor time variance can be described as the difference between the actual and standard direct labor rate per hour for the total number of hours worked.

The direct labor time variance can be calculated using the following formula;

direct labor variance = (Standard hours allowed - Actual hours) × Standard rate

As the standard hours were 7500 and the actual hours were 6000 and the standard rate is $11.70 we substitute these values in this equation of direct labor time variance as follows;

direct labor variance = ( 7500 - 6000 ) × 11.70

direct labor variance = 1500 × 11.70

direct labor variance = 17,500

Therefore, the direct labor time variance is calculated to be $17,550 favorable.

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2011/1/14 Paid wages 50,000
journal entry



Answers

Answer:

see below

Explanation:

Wages are business expenses. In the Double entry system, an increase in expenses is a debit entry.

When wagers are paid, cash available reduces. Cash is an asset account. A decrease in an asset account is a credit entry.

the Journal entry in the case will be

Wages A/C   Dr   $5000

Cash A/C    Cr  $5000

Zero Coupon Bond A zero coupon bond is a bond that is sold now at a discount and will pay its face value when it matures. No interest payments are made. Use this information to answer questions 10-12 below.
Use the Zero Coupon Bond information above to answer this question.
A zero coupon bond with a face value of $26,000 matures in 26 years. What should the bond be sold for now if its rate of return is to be 3.885% compounded annually?
$ . Round to the nearest dollar.
Use the Zero Coupon Bond information above to answer this question.
You buy a zero coupon bond with a face value of $14,000 that matures in 28 years for $7,000. What is your annual compound rate of return?
%. Round to the nearest thousandths of a percent (3 decimal places).

Answers

Zero coupon bond, A zero coupon bond is a bond that is sold at a discount and will pay its face value when it matures. No interest payments are made. Here are the solutions to the given questions based on the given information:

We need to calculate the selling price of the bond, which matures in 26 years with a face value of $26,000. We can use the formula for the present value of a zero coupon bond and find the present value of the bond. Present value = (Face value) / (1 + r)n Where, Face value = $26,000n = 26 years r = 3.885% compounded annually Present value = (26,000) / (1 + 0.03885)26Present value = $8,214So, the zero coupon bond should be sold now for $8,214.Question 2We need to calculate the annual compound rate of return. We can use the formula for the compound annual growth rate and find the rate of return. The formula for CAGR is: Future value = Present value × (1 + CAGR)n Where, Present value = $7,000Future value = $14,000n = 28 years CAGR = ?CAGR = (Future value / Present value)1/n - 1CAGR = (14,000 / 7,000)1/28 - 1CAGR = 4.58%So, the annual compound rate of return is 4.58%.

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The job specification states "knowledge of Spanish is a plus." You are comfortable speaking Spanish but are not confident of your ability to read or write in the language. Which of the following would provide the best assessment of your abilities without being misleading?
a.Near-native fluency in Spanish
b.Understand some Spanish
c.Able to converse in Spanish

Answers

Option c. "Able to converse in Spanish" would provide the best assessment of your abilities without being misleading.

Why is it?

This statement accurately represents your ability to speak and hold a conversation in Spanish, without implying that you have proficiency in reading and writing.

The job specification mentions that knowledge of Spanish is a plus, which suggests that being able to speak the language would be beneficial but not necessarily a requirement.

Therefore, it is important to provide an honest and accurate assessment of your abilities, which can help the employer make an informed decision about your candidacy.

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Mary wants to split the refund between her savings and checking accounts. How is this accomplished, if possible

Answers

This is possible to do. In order to do so Mary has to do it electronically through the use of a tax soft ware or an IRS Free File.

What is a split refund?

This helps you to divide your refund into given proportions as you may like. It puts your deposit funds into up to three various accounts.

You have to file a tax return to do this and also fill some forms.

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Task 1: Sponsorship in Sports and Entertainment Marketing
Using online research, select one stadium or arena naming deal from a sport of your choice. Summarize the advantages and disadvantages of the deal for both parties—the team and the company that purchased the naming rights.

Answers

One example of a stadium naming deal is the Staples Center in Los Angeles, California, which is home to the NBA's Los Angeles Lakers and Los Angeles Clippers, as well as the NHL's Los Angeles Kings. The naming rights for the Staples Center were purchased by office supply company Staples, Inc. in 1999, and the deal was extended in 2019 through 2041.

Advantages for the team:

Financial gain: The naming rights deal with Staples reportedly brings in around $20 million per year for the venue's owners, AEG, and the teams that play there receive a portion of that revenue.

Brand recognition: The Staples Center name is well-known, which helps to increase the visibility and brand recognition of the teams that play there.

Enhanced fan experience: The revenue generated from the naming rights deal allows the venue's owners to invest in improvements and upgrades to the arena, which can enhance the fan experience and make it a more attractive destination for events.

Disadvantages for the team:

Potential backlash: Some fans may not like the idea of a corporate name being attached to their beloved team's home arena, and may feel like it takes away from the team's identity and history.

Risk of negative association: If the company that owns the naming rights becomes embroiled in scandal or controversy, it could reflect poorly on the teams that play at the venue.

Advantages for the company:

Brand exposure: Having a major sports and entertainment venue named after their company can provide significant exposure and brand recognition.

Positive association: By aligning themselves with popular sports teams and events, the company can enhance their brand image and create positive associations with fans.

Hospitality opportunities: Companies that purchase naming rights deals often receive perks like premium seating and hospitality opportunities, which can be used to entertain clients or reward employees.

Disadvantages for the company:

High cost: Naming rights deals for major sports and entertainment venues can be very expensive, with multi-million dollar price tags.

Limited exclusivity: While the company may have exclusive naming rights for the venue, they may not have exclusivity within the broader category of their industry. For example, while Staples may have naming rights for the Staples Center, other office supply companies can still advertise at the venue.

Risk of negative association: As mentioned previously, if the teams or events held at the venue experience negative press, it could reflect poorly on the company that owns the naming rights.

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An institution that gives households and corporations access to direct finance is called ________.

Answers

An institution that gives households and corporations access to direct finance is called a brokerage

This is further explained below.

What is brokerage?

Generally, A brokerage firm's primary function is to play the role of a middleman, connecting potential buyers and sellers in order to make a transaction possible.

The compensation received by full-service brokerage firms might take the form of a set yearly fee or fees per transaction.

Although they provide a certain amount of free stock trading, online brokers charge commissions and fees for additional services.

In conclusion, A brokerage is a kind of financial institution that provides access to direct financing for individuals, businesses, and other organizations.

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Using a spreadsheet and based on the information provided in the next section, complete the following requirements: Determine the started and completed units by using the following formula: Started- Ending Completed and Transferred Out- Beginning 1. 2 Prepare an equivalent units schedule. The schedule should follow the format below; you add additional information if you would like. (Remember that the schedule is for units of trucks not plastic and wheels.) Whole Units (Actual) Direct Materials Direct Materials Conversion Equivalent Units Plastic Wheels Xxx xxX Costs Beginning Start/Completed Completed/Transferred Out xxx Ending Total Xxx 3. Calculate the total cost and the cost per equivalent unit for the direct materials plastic 4. Calculate the total cost and the cost per equivalent unit for the direct materials wheels. 5. Calculate the predetermined overhead rate 6. Determine the total conversion cost by using the predetermined rate and the direct labor rate Then determine the conversion cost per truck by taking the number out four decimals and then rounding to the nearest cent. 7. Determine the unit cost per truck to the nearest cent 8. Prepare a Cost of Production report. This report should show all costs transferred into Work-in Process and the costs transferred to Finished Goods by using the Equivalent Units Schedule. This process uses FIFO costing Determine the amounts for the following. Show calculations for credit. 9. al Ending Work-in-Process Inventory in Units AND Dollars b) Ending Finished Goods Inventory in Units AND Dollars c) Cost of Goods Sold d) Over/Under Applied Manufacturing Overhead e) Show and calculate an Income Statement f) Gross Profit Bl Net Income 10. Prepare the necessary Journal Entries related to the manufacturing cycle for this accounting period.

Answers

In this question, we have to use the given information to determine the started and completed units by using the following formula: Started - Ending Completed and Transferred Out - Beginning.

Here's a step-by-step solution to the given question:

Step 1: Calculate the started and completed units using the formula given below:

Started and Completed Units = Beginning + Started - Ending

Step 2: Prepare an Equivalent Units Schedule. The schedule should follow the format below; you can add additional information if you would like. (Remember that the schedule is for units of trucks, not plastic and wheels.)

Whole Units (Actual) Direct Materials Conversion Equivalent Units

Plastic 100% 0% 0% 100%

Wheels 80% 100% 100% 90%

Completed/Transferred Out 20% 100% 0% 20%

Ending 0% 0% 0% 0%

Total 100% 100% 100% 110%

Step 3: Calculate the total cost and the cost per equivalent unit for the direct materials plastic.

Direct materials plastic

Total cost = Equivalent Units * Cost

Cost per equivalent unit = Total cost / Equivalent Units

Total cost = $8,800

Cost per equivalent unit = $8,800 / 110 = $80

Step 4: Calculate the total cost and the cost per equivalent unit for the direct materials wheels.

Direct materials wheels

Total cost = Equivalent Units * Cost

Cost per equivalent unit = Total cost / Equivalent Units

Total cost = $5,280

Cost per equivalent unit = $5,280 / 110 = $48

Step 5: Calculate the predetermined overhead rate.

Predetermined overhead rate = Estimated overhead / Estimated machine hours

Predetermined overhead rate = $13,000 / 10,000 machine hours

Predetermined overhead rate = $1.30 per machine hour

Step 6: Determine the total conversion cost by using the predetermined rate and the direct labor rate.

Conversion cost per truck = Direct labor rate + Predetermined overhead rate

Conversion cost per truck = $70 + $1.30

Conversion cost per truck = $71.30

Step 7: Determine the unit cost per truck to the nearest cent.

Unit cost per truck = Direct materials + Conversion cost

Unit cost per truck = $128 + $71.30

Unit cost per truck = $199.30

Step 8: Prepare a Cost of Production report. This report should show all costs transferred into Work-in-Process and the costs transferred to Finished Goods by using the Equivalent Units Schedule. This process uses FIFO costing. The cost of goods completed and transferred out is calculated as follows:

Whole Units (Actual) Direct Materials Conversion Equivalent Units

Plastic 100% 0% 0% 100%

Wheels 80% 100% 100% 90%

Completed/Transferred Out 20% 100% 0% 20%

Ending 0% 0% 0% 0%

Costs

Beginning Work-in-Process $5,080

Started Production Costs $43,680

Total Work-in-Process Costs $48,760

Costs added during the period

Direct materials plastic (80 * $80) $6,400

Direct materials wheels (80 * $48) $3,840

Conversion costs (90 * $71.30) $6,417

Total costs added $16,657

Costs to account for $65,417

Costs accounted for

Completed and transferred out (20 * $199.30) $3,986

Ending Finished Goods (70 * $199.30) $13,951

Ending Work-in-Process (90 * $128) $11,520

Total costs accounted for $29,457

Step 9: Determine the amounts for the following. Show calculations for credit.

(a) Ending Work-in-Process Inventory in Units AND Dollars.

Ending Work-in-Process inventory in units = 90

Ending Work-in-Process inventory in dollars = $11,520

(b) Ending Finished Goods Inventory in Units AND Dollars.

Ending Finished Goods inventory in units = 70

Ending Finished Goods inventory in dollars = $13,951

(c) Cost of Goods Sold.

Cost of goods sold = Cost of goods completed and transferred out

Cost of goods sold = 20 * $199.30

Cost of goods sold = $3,986

(d) Over/Under Applied Manufacturing Overhead.

Overapplied manufacturing overhead = Actual overhead - Applied overhead

Overapplied manufacturing overhead = $13,200 - ($1.30 * 10,000)

Overapplied manufacturing overhead = $0.00

(e) Show and calculate an Income Statement.

Income Statement

Sales (70 * $320) $22,400

Cost of goods sold (20 * $199.30) $3,986

Gross profit $18,414

Operating expenses $12,500

Net income $5,914

(f) Gross Profit, Net Income.

Gross profit = $18,414

Net income = $5,914

Step 10: Prepare the necessary Journal Entries related to the manufacturing cycle for this accounting period.

Manufacturing cycle journal entries:

(1) Purchase of raw materials

Raw materials inventory (plastic) $6,400

Raw materials inventory (wheels) $3,840

Accounts payable $10,240

(2) Use of raw materials

Work-in-process inventory (80 * $128) $10,240

Raw materials inventory (plastic) ($80 * 80) $6,400

Raw materials inventory (wheels) ($48 * 80) $3,840

(3) Incurrence of labor costs

Work-in-process inventory (90 * $70) $6,300

Wages payable $6,300

(4) Incurrence of overhead costs

Manufacturing overhead $13,200

Accounts payable $13,200

(5) Completion of production

Work-in-process inventory $12,800

Finished goods inventory $12,800

(6) Sale of goods

Accounts receivable $22,400

Sales $22,400

Finished goods inventory ($199.30 * 20) $3,986

Cost of goods sold $3,986

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identify three of many shared ethical standards among businesses

Answers

Answer:

✓ Social responsibility, fair pricing, truth in advertising

Explanation:

Deena works at a small brewery. She is the only person trained in changing out the labels on the automatic bottling machine. The brewery has high dependency on deena because she has low.

Answers

Deena works at a small brewery. She is the only person trained in changing out the labels on the automatic bottling machine. The brewery has a high dependency on Deena because she has low substitutability.

What is a substitute?

Someone or anything that takes the place of the original is called a replacement. To put into practice such a change is to replace it with a verb.

Even while the word substitute is used in many different contexts, it is probably most frequently associated with replacement teachers and sportsmen who take over for another participant in a team sport. The ability to be replaced makes anything interchangeable.

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Randy has established a successful fast-food restaurant chain named randy’s in the united states. He currently has 12 locations across three states. He’d like to expand his brand to asia, but does not have the capital to do so. He’s also wary of the risk of failure, especially because he is not very familiar with business in asia. If you were consulting randy, what route would you advise against?.

Answers

The first thing to do is to consult an economist regarding what steps he should take. then after getting the answer, he can make his own decision, if he wants to take a high level of risk but the return, he gets is also high, then he can borrow money in the bank for capital. but if he doesn't dare to take the risk then he can invest the money he has.

Business risk or also called business risk is the impact or consequence that will be received during the course of a business activity. This has a direct or indirect impact on the decrease in the number of profits, as well as the finances of a company.

Even so, the majority of entrepreneurs will always anticipate the worst possibility that occurs from a business activity. Making the right decisions and having a mature strategy can reduce business risks that may occur in a business activity.

Business owners sometimes do have to take the 'worst' risks available to get bigger profits, compared to taking no risks at all which can actually make the business stagnate or 'stuck'.

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