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a central bank conducts open-market bond sales in a banking system with limited reserves, the money supply, interest rate, and aggregate demand will change in purchased government bonds.
The bond market has flourished rapidly over time. There are varieties of bonds in the market and one of the less risky ones is government bonds. Like corporations and individuals, even governments need funds to sort out the public issues in the society or economy. Also known as G-Secs, these bonds raise extra funds from the public in return for interest payments and full capital return on the date of maturity. Investors can buy government bonds offline and online as well.
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shift the short-run aggregate supply (as) curve or the aggregate demand (ad) curve to show the short-run impact of the increase in government spending.
Answers
Therefore, a shift the short-run aggregate supply (as) curve or the aggregate demand (ad) curve to show the short-run impact of the increase in government spending will cause Aggregate Demand curve to shifts to the right
What is aggregate supply in the short and long terms?Short-run aggregate supply curve shifts as a result of price changes for production inputs. The short-run aggregate supply curve may also alter as a result of adjustments to the capital stock, the stock of natural resources, and the level of technology.
Therefore, the supply in the short term or during a time when capital is fixed is depicted by short-run aggregate supply curves. Aggregate supply curves for the long run illustrate supply when all inputs are erratic. An economy's overall production and price level influence aggregate supply.
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The following graph shows the economy in long-run equilibrium at the expected price level of 120 and the natural level of output of $600 billion. Suppose the government increases spending on building and repairing highways, bridges, and ports.
Shift the short-run aggregate supply (AS) curve or the aggregate demand (AD) curve to show the short-run impact of the increase in government spending.
Explain and give an example the difference between an explicit cost and an implicit cost.
Explain and give an example the difference between Accounting Profit and Economic Profit.
Explain and give an example the meaning of zero economic profit.
Answers
Answer:
Explicit costs are out-of-pocket costs for a firm
for example, payments for wages and salaries, rent, or materials. Implicit costs are the opportunity cost of resources already owned by the firm and used in business
for example, expanding a factory onto land already owned.
17. On the circular flow diagram of the economy, the arrow from the producer sector to the
overseas sector usually represents
A. Export receipts
B. Import payments
C. Producer income
D. Tariffs
Answers
Answer:
A. Export receipts
Explanation:
This arrow represents dollars (or other currency) that are being received by domestic producers in exchange for the export of goods or services that they are sending overseas.
If the arrow was pointing backwards, it would represent dollars that are leaving the economy in order to pay for imports.
The item called "Export receipts" is the arrow on the circular flow diagram which depicts the producer sector to the overseas sector.
The Export receipts arrow the currency that are being received by domestic producers in exchange for the export of goods or services that they are sending overseas.
If the Export receipts arrow are pointing backwards,then, it means that dollars are leaving the economy in order to pay for imports.
Hence, the "Export receipts" is the arrow on the circular flow diagram which depicts the producer sector to the overseas sector.
Therefore, the Option A is correct.
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The CEO is interested in learning more about probability and how it works. The CEO is also asking about how probability and analytics can be integrated into the business model. In the process of looking for information on probability, you find that it is important to understand optimization and forecasting and how they can be applied to benefit the business. Do some research and present the results for the CEO. The following is the necessary information to complete this lab assignment. Deliverables Step 2: Probability Research • Considering the CEO's request, you determine that some research needs to take place. • Define the following terms for the CEO and locate some chart examples of each type of analysis. o Probability o Optimization o Forecasting Step 3: Integrating Data Research for Business • In one to two paragraphs, discuss what role probability and statistics play in business decisions. • In one to two paragraphs, discuss any ethical considerations when doing probability. • Summarize by explaining why probability is a good method for the CEO to consider.
Answers
Step 2: Probability Research Probability, Optimization, Forecasting.
Step 3: Integrating Data Research for Business.
Probability:
Probability is a branch of mathematics that deals with the likelihood of events occurring. It is a measure of uncertainty and is expressed as a number between 0 and 1, where 0 represents impossibility and 1 represents certainty.
Optimization:
Optimization involves finding the best possible solution from a set of alternatives. It aims to maximize desired outcomes or minimize undesirable ones, considering constraints and objectives.
Forecasting:
Forecasting is the process of predicting future events or outcomes based on historical data and statistical models. It helps businesses anticipate demand patterns, market trends, and other factors that can influence decision-making.
Step 3: Integrating Data Research for Business
Probability and statistics play a crucial role in business decisions. They provide a framework for analyzing and interpreting data, assessing risks, making predictions, and supporting evidence-based decision-making.
When working with probability, ethical considerations are important. It is essential to ensure that data used in probability analysis is collected ethically, respects privacy and confidentiality, and adheres to relevant legal and regulatory requirements.
Probability is a valuable method for the CEO to consider because it provides a systematic and quantitative approach to analyzing uncertainty and making informed decisions.
By integrating probability into the business model, the CEO can better understand risks, optimize resource allocation, improve forecasting accuracy, and ultimately enhance strategic decision-making and business performance.
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Check for $10 incorrectly charged by bank as $100.
Is this an addition or reduction on the bank or company side of a bank reconciliation
Answers
Answer:
On the bank reconciliation sheet this would be a reduction because on the customers side it was a debit, which turns into a credit once given back and the bank must perform a reduction to account for the error on the statement sheet
Answer:
Addition
Explanation:
They took too much money out 90$
1. Why do younger, male pay more for car insurance? Why do you believe single people pay more for car insurance than married couples?
Answers
average, a married driver pays $160 less per year for car insurance than does a single, unmarried driver. While being married doesn't necessarily make you a better driver, historical data show married couples are more likely to share driving responsibilities than single people.
Hi army
gud nyt
Marketing-oriented managers see segmenting as a process of aggregating people with similar needs into a group.
a) True
b) False
Answers
Answer:
a) True
Explanation:
Given that it can be difficult to capture the whole market considering limited time, capital, and labor. Consequently, Marketing-oriented managers see segmenting as a process of aggregating people with similar needs into a group. This is because, Segmentation is a technique of dividing the marketplace into components, which are available, and profitable with considerable probable growth.
Hence, in this case, the correct answer is TRUE.
McGill and Smyth have capital balances on January 1 of $50,000 and $40,000, respectively.
The partnership income-sharing agreement provides for
• annual salaries of $22,000 for McGill and $12,000 for Smyth,
• interest at 10% on beginning capital balances, and,
• remaining income or loss to be shared 60% by McGill and 40% by Smyth.
Requirement:
(1) If the income was $50,000, what will be the distribution of income to each partner?
(2) If the income was $36,000, what will be the distribution of income to each partner?
(3) Journalize the allocation of net income in each of the situations above.
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Explanation:
5800 is interest,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,, ,,,
PLEASE HELP
Discussion of how business intelligence is used or could be used to support SpaceX's 3D printing process
Answers
Business intelligence (BI) can be employed to provide assistance to SpaceX's 3D printing procedure in several ways:
How business intelligence is used or could be used to support SpaceX's 3D printing processQuality regulation: BI tools could facilitate the monitoring of the quality of 3D-printed parts, recognize errors anddefects, plus detect areas for advancement. By exploring data from the 3D printing step, SpaceX may discover structures and trends that hint towards potential troubles with both the design as well as fabrication process, allowing them to take corresponding adjustments.
Cost enhancement: BI tools might be implemented to investigatethe cost of 3D printing and pinpoint sections where price savings can be accomplished. For example, by examining information concerning material usage, labor costs, and equipment efficacy, SpaceX will be able to minimize expenditures while retaining greatness.
Process streamlining: BI tools may be exploited to optimize the 3D printing method by discovering hurdles, problems, or opportunities for betterment. For example, by studying data on utilization of machines and printing rate, SpaceX will recognize openings to escalate proficiency and reduce printing time.
Predictive maintenance: BI instruments could promote surveillance of health of 3D printers and anticipate when upkeep or renovations are needed. By evaluating data regarding functioning of devices and maintenance history, SpaceX would be capable of foreseeing repair needs and arrange mending or substitution ahead of time, curtailing downtimes and heightening machine operability.
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The answer is D. The U.S government offers ten types of loans.
Diego Company manufactures one product that is sold for $71 per unit in two geographic regions—the East and West regions. The following information pertains to the company’s first year of operations in which it produced 54,000 units and sold 49,000 units. Variable costs per unit: Manufacturing: Direct materials $ 22 Direct labor $ 12 Variable manufacturing overhead $ 3 Variable selling and administrative $ 5 Fixed costs per year: Fixed manufacturing overhead $ 864,000 Fixed selling and administrative expenses $ 586,000 The company sold 36,000 units in the East region and 13,000 units in the West region. It determined that $280,000 of its fixed selling and administrative expenses is traceable to the West region, $230,000 is traceable to the East region, and the remaining $76,000 is a common fixed cost. The company will continue to incur the total amount of its fixed manufacturing overhead costs as long as it continues to produce any amount of its only product.
5. What is the company’s total gross margin under absorption costing?
6 What is the company’s break-even point in unit sales?
7. What would have been the company’s variable costing net operating income (loss) if it had produced and sold 49,000 units? What would have been the company’s absorption costing net operating income (loss) if it had produced and sold 49,000 units? Prepare a contribution format segmented income statement that includes a Total column and columns for the East and West regions.
Answers
Answer:
Diego Company
1. The company's total gross margin under absorption costing is:
= $802,000
2. The company's break-even point in unit sales is:
= 50,000 units
3. The company’s variable costing net operating income (loss) if it had produced and sold 49,000 units is:
= ($29,000).
4. The company's absorption costing net operating income (loss) if it had produced and sold 49,000 units is:
= ($29,000).
5. Contribution Format Segmented Income Statement
East West Total
Sales units 36,000 13,000 49,000
Sales revenue $2,556,000 $923,000 $3,479,000
Variable cost of goods sold:
Production costs 1,332,000 481,000 1,813,000 ($37 * 49,000)
Selling and admin. 180,000 65,000 245,000
Total variables $1,512,000 $546,000 $2,058,000
Contribution $1,044,000 $377,000 $1,421,000
Fixed costs:
Manufacturing 280,000 230,000 510,000
Common costs 76,000
Total fixed costs $280,000 $230,000 $586,000
Net income $764,000 $146,000 $835,000
Explanation:
a) Data and Calculations:
Selling price = $71 per unit
East West
Sales units 36,000 13,000
Production units = 54,000
Sales unit = 49,000
Variable costs per unit:
Manufacturing:
Direct materials $ 22
Direct labor $ 12
Variable manufacturing overhead $ 3
Total variable manufacturing costs = $37 per unit
Variable selling and administrative $ 5
Fixed costs per year:
Fixed manufacturing overhead $ 864,000
Fixed selling and administrative expenses $ 586,000 (West $280,000 East $230,000, and $76,000 common)
Total fixed costs = $1,450,000
Total gross margin under absorption costing:
Sales revenue $3,479,000 ($71 * 49,000)
Cost of production:
Variable costs $1,813,000
Fixed costs 864,000 2,677,000
Gross profit $802,000
Break-even point in unit sales:
Sales price = $71
Variable manufacturing cost per unit = $37
Variable selling cost per unit = $5
Total variable cost per unit = $42
Contribution margin per unit = $29
Break-even point in unit sales = FC/contribution margin
= $1,450,000/$29 = 50,000 units
Sales revenue $3,479,000 ($71 * 49,000)
Variable production costs 1,813,000 ($37 * 49,000)
Variable selling costs 245,000 ($5 * 49,000)
Total variable costs $2,058,000
Contribution margin $1,421,000
Fixed costs
Manufacturing 864,000
Selling and admin. 586,000 $1,450,000
Net operating income (loss) ($29,000)
Sales revenue $3,479,000 ($71 * 49,000)
Production costs:
Variable costs 1,813,000 ($37 * 49000)
Manufacturing 864,000
Total production costs 2,677,000
Cost of goods sold $2,677,000
Gross profit $802,000
Period costs:
Selling and administrative 831,000
Net operating income (loss) ($29,000)
How do barriers to entry affect firms in a monopoly market structure?
a.) They limit the price that established firms can set.
b.) They promote competition among firms.
c.) They inhibit economies of scale from developing.
d.) They protect the profits of the established firm.
Answers
Describe the importance of effective communication for manager
Answers
Answer:
Strong management – When managers are strong communicators, they are better able to manage their teams. The delegation of tasks, conflict management, motivation and relationship building (all key responsibilities of any manager) are all much easier when you are a strong community
Effective communication is significant for managers to perform the basic functions of management.
What do you mean by effective communication?Effective communication is a process of exchanging ideas and data so that the message is received and understood. It gives clarity and purpose.
Strong management – When managers exist as strong communicators, they are better capable to manage their teams. The delegation of tasks, conflict management, motivation, and relationship building (all key obligations of any manager) exist all much more comfortable when you stand as a strong communicator.
Effective communication is important for managers to perform the basic functions of management. The basic functions of management include planning organizing leading, and controlling. It helps them to perform their jobs and responsibilities. It gives a foundation for planning.
Thus, effective communication is important for managers.
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demarco and tanya have received information about the separate mortgage offers. In two or three paragraphs describe your recommendation for the best financial choice in their situation.
Answers
There are a few fundamental elements to be kept in mind when assessing potential mortgage offers, which include:
How to make the recommendationInterest rate: This is one of the key components to ponder upon when evaluating different mortgages. A lower interest rate entails smaller monthly payments as well as a decrease in sum spent on interest overall during the duration of the loan.
Loan term: The length of the loan is another aspect that should not go unnoticed. When opting for a briefer loan, more money will be spent towards monthly payments but correspondingly less towards interest. However, if you desire a longer period, then the opposite is true with fewer monthly payments but expenditure on interest increases.
Closing costs: It is essential to take closing fees into consideration since they can end up reaching staggering heights. Closing costs refer to every single amount related to taking out a mortgage and ought to be given due thought before deciding on an offer.
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In 2018, Southwestern Corporation completed the treasury stock transactions listed below.
February 2: Reacquired 67,000 shares at $11.70.
March 17: Sold 17,000 treasury shares at $13.85.
May 17: Sold 22,000 treasury shares at $7.85.
Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago. Prepare the journal entries to record the above transactions.
Answers
Answer:
realy sorry but i don't know pardon mr for this
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Which is a type of contamination in a food establishment?
Biological
Physical
Chemical
All of the above
Answers
Ted's Co. offers a zero coupon bond with an 11.3% yield to maturity. The bond matures in 16 years. What is the current price of a $1,000 face value bond
Answers
Answer:
Zero-cupon bond= $835.45
Explanation:
Giving the following information:
Face value= $1,000
YTM= 11.3%
Years to maturity= 16 years
To calculate the price of the bond, we need to use the following formula:
Zero-cupon bond= [face value/(1+i)^n]
Zero-cupon bond= 1,000 / (1.113^16)
Zero-cupon bond= $835.45
Here is a linear demand function: Q = 10 -0.5P. Find its price function by inverting the demand function. Then find its total revenue function by multiplying through by Q. The linear demand function Q = 400 -250P inverts into the price function P = 1.6 -0.004Q. Multiplying this by Q gives its total revenue function TR = 1.6Q -0.004. Evaluate the following expression.
Y = 5(2X + 3)2 -2X2
Answers
Answer:
\(P = 20 - 2Q\)
Explanation:
\(Q = 10 - 0.5P\)
Price function can be estimated by inverting the demand function.
\(Q = 10 - 0.5P \\\\0.5P = 10 - Q\\P = 10/0.5 - Q/0.5 \\P = 20 - 2Q\)
This is the price function.
Total revenue function can be estimated using the given formula,
\(TR = P*Q \\ = (20 - 2Q) Q \\ = 20Q - 2Q^2\)
The linear demand function is given by,
\(Q = 400 - 250P \\\)
Price function is given by,
\(P = 1.6 - 0.004Q \\\)
Total revenue function is thus given by,
\(TR = P*Q \\ = 1.6Q - 0.004Q^2\)
\(Y = 5(2X+3)^2 - 2X^2 \\Y = 5(4X^2 + 9 + 12X) - 2X^2\\Y = 20X^2 + 45 + 60X - 2X^2\\Y = 18X^2 + 45 + 60X \\\)
The derivative of Y with respect to x is,
\(dY/dX = 36X + 60\\\)
Equating this equal to 0 we get,
\(36X + 60 = 0 \\36X = -60 \\X = -10/6 \\\\X= -1.66\)
what are the examples of energy careers select three options
Answers
Answer:
1) Wind Energy Engineers, who design and develop wind farm systems.
2) Chief Sustainability Officers, who oversee green activities at their organizations.
3) Energy Auditors, who conduct audits to determine how energy-efficient homes or buildings are.
Explanation:
Sorry if this isn't what you were looking for, have a nice day!
Answer:Electrical Power-Line Installer
Power Plant Operator
Automotive Service Attendant
Explanation:
What are examples of Energy careers? Select three options.
× Carpenter
× Video Editor
Electrical Power-Line Installer
× Printing Press Operator
Power Plant Operator
Automotive Service Attendant
Solomon Ski Company manufactures snow skis. During the most recent accounting period, the company’s finishing department transferred 4,150 sets of skis to finished goods. At the end of the accounting period, 480 sets of skis were estimated to be 50 percent complete. Total product costs for the finishing department amounted to $285,350.
Required
Determine the cost per equivalent.
Determine the cost of the goods transferred out of the finishing department.
Determine the cost of the finishing department’s ending work in process inventory.
Answers
The various costs for Solomon Ski Company during the recent accounting period are determined as follows:
1. Cost per equivalent unit is $65.
2. Cost of finished goods transferred out from the finishing department is $269,750.
3. Cost of the ending WIP inventory is $15,600.
What is the cost per equivalent unit?The cost per equivalent unit refers to the average cost per unit based on the total production costs divided by the total equivalent units of production.
The equivalent units of production depend on the degree or percentage of completion for the various cost classes.
Data and Calculations:Transfer to finished goods = 4,150
Ending inventory = 480
Degree of completion of the ending inventory = 50%
Total equivalent units = 4,390 (4,150 + 480 x 50%)
Total production costs = $285,350
Cost per equivalent unit = $65 ($285,350/4,390)
Cost of finished goods = $269,750 ($65 x 4,150)
Cost of the ending WIP = $15,600 ($65 x 240)
Thus, equivalent units refer to the degree of work completed per unit.
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Place the Elements of a Sales Process in the correct order
Question 1 options:
Presentation
Prospecting
Follow-up
Approach
Closing
Preparation
Handling Objections
Answers
Explanation:
Preparation
Approach
Presentation
Prospecting
Handling objectives
Follow up
Closing
Answer:
1. Prospecting
2. Preparation
3. Approach
4. Presentation
5. Handling objections
6. Closing
7. Follow up
Explanation:
After year 3, free cash flows are expected to grow at a constant 5% a year indefinitely. The discount rate is 10%. The firm has debt of $50 million, cash of $20 million and has 10,000,000 shares outstanding. What is the price of the stock
Answers
Answer:
The price of the stock = $26.69
Explanation:
Missing question at inception is as follows "A firm expects the following free cash flows: Year 1: $10 million, Year 2: $12 million, Year 3: $15 million"
Year Cash-flows"million D. rate at 10% Discounted cash flows
1 10 0.9091 9.0910
2 12 0.8264 9.9168
3 15 0.7513 11.2695
4 315 0. 7513 236.6595
Total $266.9368
The price of the stock = Total Present value of cash flows / Number of Shares outstanding
The price of the stock = $266,936,800 / 10,000,000 shares
The price of the stock = $26.69368
The price of the stock = $26.69
Thus, the price of the stock is $26.69 per share
Note:
Present value of future cash flows at year 3 = 15*(1.05/10%-5%) = 15*(1.05/5%) = 15 * 21 = $315 million
Discount rate for each year = 1/(1+r)^1 = 1/(1+0.10)^1 = 1/1.10 = 0.90909
(2 points) of the most important pillar
given the current socio‐economic conditions in South Africa as well as the broader contexts of mismanagement, tender irregularities, and fraud in South African Government institutions.
Answers
The pillars of accountability, transparency, good governance, and anti-corruption measures are crucial for addressing issues organization in South African government institutions.
One of the main points of support for tending to the current financial circumstances and the more extensive settings of fumble, delicate abnormalities, and misrepresentation in South African government organizations is responsibility.
This support point incorporates both individual and institutional responsibility, and it is fundamental for guaranteeing that those answerable for debasement and botch are viewed to be responsible.
Individual responsibility includes considering people liable for their activities, incorporating arraigning those associated with defilement and maladministration.
Institutional responsibility includes guaranteeing that administration foundations are straightforward, viable, and effective in their activities. This can incorporate measures like customary reviews, public detailing, and autonomous oversight.
Notwithstanding responsibility, different points of support that are fundamental for resolving these issues incorporate straightforwardness, great administration, and compelling enemy of defilement measures.
These points of support require a guarantee to transparency, decency, and uprightness from government authorities, as well as a readiness to resolve foundational issues and execute changes to reinforce administration and responsibility.
By and large, the mainstays of responsibility, straightforwardness, great administration, and hostile to defilement measures are critical for tending to the current financial circumstances and the more extensive settings of bungle, delicate anomalies, and extortion in South African government organizations.
Without these points of support set up, it will be challenging to reestablish public confidence in government and to advance feasible financial turn of events.
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This chapter is all about trade--imports and exports and the balance of payments.
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On the 24th, a shooting incident occurred at a high school in St. Louis, Missouri, my country. A 19-year-old gunman opened fire on the campus, causing 2 deaths and 7 injuries, and was eventually shot dead by the police.
On October 25, St. Louis Mayor Tishaura Jones said that gun violence continues to take the lives of children and children in our country, and its severity is enough to become a "national emergency" and the government should take action. Police said at a news conference that day that the gunman was Orlando Harris, a 19-year-old male who just graduated from the high school last year.
Answers
The deaths at the high school in St. Louis, Missouri, United States show that an argument can indeed be made for tighter gun controls in the country.
Should there be tighter gun controls in the United States?The most recent tragedy that resulted from gun violence in the United States, was the killing of two people at the Central Visual and Performing Arts High School, St. Louis, Missouri, by a previous student of the school.
Over the years, there have been other instances of gun violence in American schools including the shooting at Uvalde, Texas that led to the deaths of 19 children.
The United States has the highest rates of gun ownership in the entire world as well as one of the highest rates for mass shooting. This means that there must be a correlation between the two. Nations that have tighter gun controls have lower rates of mass shooting.
There is therefore a good enough argument that the United States should introduce stricter and tighter gun controls in order to reduce the incidence of mass shootings, especially at schools.
The rest of the question is:
Does this shooting add more evidence for the argument for tighter gun control or less?
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How many thousands of units of corn can Congo produce in one week? 5 10 20 60
Answers
Answer:
Based on the units of corn and diamonds produced by the United States, the opportunity cost of producing corn is B. 10⁄60.
What is the opportunity cost of producing corn?
The opportunity cost of producing corn to the United States would be the number of diamonds that are given up to make one unit of corn.
This can be found as:
= Units of diamonds / Units of corn
= 10 / 60 diamonds
The answer would be 20
(source is from flvs: economics with financial literacy)
Economics (9.7.iii): What is the change in consumer surplus due to opening up to trade? Input your answer in units of millions of dollars. Enter a negative number if consumer surplus decreases.
*need this answered before Monday*
Answers
Answer:
This is -22
Explanation:
Suppose that a week after Vollmer gave Lang the funds, she sent him an e-mail containing the terms of their loan agreement with her named typed at the bottom. Lang did not respond to the e-mail. Is this sufficient as a writing under the Statute of Frauds?
Answers
According to the Statute of Fraud, parties entering into a legal agreement must put their agreement in writing. This is one of the fundamental elements of a legal agreement.
Additionally, it needs to be properly signed by both parties to the agreement, or at the very least, legal agreement needs the signature of the person paying for the products or services.
First off, in this situation Vollmer didn't write down the terms and conditions on paper; instead, she sent a message via email, which the legal agreement could not sign and approve. In the end, since the receiving party cannot sign it, the contract is invalid under the Statute of Fraud. Since Lang is being released from the financial obligation, his signature is crucial in this situation.
Thus, a written agreement is not legally binding.
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On April 1, Sangvikar Company had the following balances in its inventory accounts:
Materials Inventory $12,730
Work-in-Process Inventory 21,340
Finished Goods Inventory 8,700
Work-in-process inventory is made up of three jobs with the following costs:
Job 114 Job 115 Job 116
Direct materials $2,411 $2,640 $3,650
Direct labor 1,800 1,560 4,300
Applied overhead 1,170 1,014 2,795
Materials purchased on account, $30,000. Materials requisitioned: Job 114, $16,500; Job 115, $12,000; and Job 116, $5,000. Job tickets were collected and summarized: Job 114, 150 hours at $14 per hour; Job 115, 220 hours at $18 per hour; and Job 116, 80 hours at $18 per hour. Overhead is applied on the basis of direct labor cost. Actual overhead was $4,807. Job 115 was completed and transferred to the finished goods warehouse. (1) Job 115 was shipped, and (2) the customer was billed for 125 percent of the cost.
Required:
a. Prepare journal entries for the April transactions.
b. Calculate the ending balances of each of the inventory accounts as of April 30. Post the entries to the T-accounts in the same order in which they were journalized.
Answers
Answer:
Sangvikar Companya. Journal Entries for The April transactions:
Debit Raw materials $30,000
Credit Accounts Payable $30,000
To record the purchase of raw materials.
Debit WIP:
Job 114, $16,500
Job 115, $12,000
Job 116, $5,000
Credit Raw materials $33,500
To record the transfer of raw materials to production.
Debit WIP:
Job 114 $2,100
Job 115 $3,950
Job 116 $1,440
Credit Direct labor costs $7,490
To record the direct labor costs to WIP.
Debit WIP:
Job 114 $1,348
Job 115 $2,535
Job 116 $934
Credit Overhead $4,807
To record the overhead applied to WIP.
Debit Finished Goods Inventory $23,699
Credit WIP: Job 115 $23,699
To record the transfer of Job 115 to Finished Goods.
Debit Cost of Goods Sold $23,699
Credit Finished Goods Inventory $23,699
To record the cost of goods sold.
Debit Accounts Receivable $29,624
Credit Sales Revenue $29,624
To record the sale of Job 115 on credit.
b. Ending balances of Inventory Accounts:
Raw materials = $9,230
WIP:
Job 114 = $25,329
Job 116 = $18,119
Total = $43,448
Finished Goods = $8,700
c. T-Accounts:
Materials Inventory
Account Titles Debit Credit
Beginning balance $12,730
Accounts Payable 30,000
WIP:
Job 114 $16,500
Job 115 12,000
Job 116 5,000
Balance $9,230
Accounts Payable
Account Titles Debit Credit
Raw materials $30,000
Work-in-Process Inventory - Job 114
Account Titles Debit Credit
Beginning balance $5,381
Raw materials 16,500
Direct labor cost 2,100
Overhead applied 1,348
Balance $25,329
Work-in-Process Inventory - Job 115
Account Titles Debit Credit
Beginning balance $5,214
Raw materials 12,000
Direct labor cost 3,950
Overhead applied 2,535
Finished Goods Inventory $23,699
Work-in-Process Inventory - Job 116
Account Titles Debit Credit
Beginning balance $10,745
Raw materials 5,000
Direct labor cost 1,440
Overhead applied 934
Balance $18,119
Direct Labor Cost
Account Titles Debit Credit
WIP:
Job 114 $2,100
Job 115 3,950
Job 116 1,440
Overhead
Account Titles Debit Credit
WIP:
Job 114 $1,348
Job 115 2,535
Job 116 934
Finished Goods Inventory
Account Titles Debit Credit
Beginning balance $8,700
WiP: Job 115 $23,699
Cost of Goods Sold $23,699
Cost of Goods Sold
Account Titles Debit Credit
Finished Goods $23,699
Sales Revenue
Account Titles Debit Credit
Accounts Receivable $29,624
Accounts Receivable
Account Titles Debit Credit
Sales Revenue $29,624
Explanation:
a) Data and Calculations:
Beginning balances:
Materials Inventory $12,730
Work-in-Process Inventory 21,340
Finished Goods Inventory 8,700
Work-in-Process Inventory costs:
Job 114 Job 115 Job 116
Direct materials $2,411 $2,640 $3,650
Direct labor 1,800 1,560 4,300
Applied overhead 1,170 1,014 2,795
Total $5,381 $5,214 $10,745
Analysis of April Transactions:
Raw materials $30,000 Accounts Payable $30,000
WIP: Job 114, $16,500; Job 115, $12,000; and Job 116, $5,000 and Raw materials $33,500
WIP: Job 114 $2,100 Job 115 $3,950, Job 116 $1,440 Direct labor costs $7,490
WIP: Job 114 $1,348 Job 115 $2,535 Job 116 $934 Overhead $4,807
Job tickets were collected and summarized (Direct labor costs):
Jobs DLH DLH Costs Overhead applied
Job 114, 150 hours at $14/hour = $2,100 $1,348 ($2,100/$7,490 *$4,807)
Job 115, 220 hours at $18/hour = $3,950 2,535 ($3,950/$7,490 *$4,807)
Job 116, 80 hours at $18/hour = $1,440 924 ($1,440/$7,490 *$4,807)
Total = 450 hours $7,490 $4,807
Actual Overhead = $4,807
Total direct labor costs = $7,490
Overhead rate = $0.64
Sales Revenue = $29,624 ($23,699 * 125%)
Use the following information to create an Excel workbook and write the appropriate Excel formula.
Single Payment Compound Amount-
SPCA = (1+i)^n
i, interest rate per period, has a value of 0.00675
n, number of periods, has a value of 89.
Your answer must be the value produced by the Excel formula. Your answer must contain TWO and only TWO decimal places.
Answers
Answer:
id k
Explanation:
I=Prt try that if it helps
intrest = principla x rate x time