Answer:
C. Both A and B are false.
Explanation:
Costing of a manufacturing concern business involves multiple cost like direct, indirect and overhead. Deciding and calculating each more is a difficult process than a wholesale business which only have limited cost like variable and fixed.
In general the direct costs are assigned because they are directly attributable to the product and overhead costs are allocated on a predetermined rate because the cannot be attributed to a product directly.
Apex Systems Co. offers its services to residents in the Seattle area. Selected accounts from the ledger of Apex Systems Co. for the fiscal year ended December 31, 2016, are as follows:
Bart Nesbit, Capital
Dec. 31 91,200 Jan. 1 (2016) 1,340,000
Dec. 31 356,000
Bart Nesbit, Drawing
Mar. 31 22,800 Dec. 31 91,200
June 30 22,800
Sept. 30 22,800
Dec. 31 22,800
Income Summary
Dec. 31 1,437,000 Dec. 31 1,793,000
Dec. 31 356,000
Prepare a statement of owner’s equity for the year. No additional investments were made during the year. If a net loss has been incurred or there has been a decrease in owner’s equity, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
Answer:
Explanation:
The preparation of the statement of stockholders' equity at the end of the year is presented below:
Apex Systems Co.
Statement of stockholders' equity
For the fiscal year ended December 31, 2016
Particulars Common Stock
Beginning
Balance $1,340,000
Add: Net income $356,000
Less:
Bart Nesbit, Drawing -$91,200
Ending balance $1,604,800
The Statement of Owner's Equity for Apex Systems Co. for the fiscal year ending December 31, 2016 begins with initial capital of $1,340,000, subtracts $91,200 in drawings and a $356,000 net loss from the income summary, leading to an ending capital of $892,800.
Explanation:In the preparation of a Statement of Owner's Equity for Apex Systems Co., various information derived from the given accounts are utilized. Starting with Bart Nesbit's capital at the beginning of the year, which is $1,340,000. The drawings made by Bart Nesbit throughout the year, which totals to $91,200, must be subtracted from this initial capital. The income for the company for the year totaled $1,437,000 but it was offset by a deduction of $1,793,000 (the expenses or losses), inducing a net loss of $356,000. This net loss also gets subtracted from the initial capital. This means that Bart Nesbit's capital at the end of the year comes out to be $892,800 ($1,340,000 - $91,200 - $356,000).
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Which of the following is NOT a form of countertrade?a. Barterb. Offsetc. Counterpurchased. Kaizen blitz
Answer:
d. Kaizen blitz
Explanation:
Counter trade refers to a kind of international trade wherein goods and services are exchanged in return for goods and services instead of payment via a currency.
There are three types of countertrades namely,
Barter OffsetCounterpurchaseBarter is the oldest form of trade wherein goods were exchanged for goods. Offset is a countertrade wherein transactions are set off in future or off set. In counter purchase both parties agree to purchase and sell goods to one another under different contracts.
Kaizen Blitz isn't a form of counter trade.
People often trade items. The option that is not a form of countertrade is Kaizen blitz.
Countertrade is the act of exchanging goods or services that has been paid for, with other goods or services, instead of with money.
There are a lot of types of countertrade. They are;
BarterCounter purchaseCompensation tradeSwitch tradingOffsets etc.Conclusively, Kaizen blitz is not a countertrade as the term is not related to it at all
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Foreign currencies that are deposited in banks outside the home country are known as A. Eurobond. B. Eurocurrencies. C. foreign bonds. D. Eurodollars.
Answer: option (B). Eurocurrencies
Explanation: Euro currency is currency deposited by nationals governments or corporations, outside of its home market. Eurocurrency is a currency commonly held in banks located outside of the country which issues the currency. Moreover is is pertinent to note that the term Eurocurrency applies to any currency and to banks in any country. Having Euro doesn’t mean the transaction has to involve European countries.
Eurocurrency is when an institution uses money from another country, but not in the originating country’s home market, and despite the name, Eurocurrency can involve any currency. For example Nigeria Naira deposited at a bank in United state is Eurocurrency.
client has controls which are built in by the manufacturer to detect equipment failure. These are known as _____ Group of answer choices data integrity contols. No answer text provided. input controls. hardware controls. manufacturer's controls.
Answer:
The correct answer is hardware controls
Explanation:
Hardware control is the kind of control which are the computer controls that builds into the physical equipment through the manufacturer. It is the control which manages the data flow among the two or more entities.
Therefore, the client which has the control that built in order to detect or discover the failure in the equipment by the manufacturer, is known or acknowledged as the hardware control.
In contingency planning, a(n) _________ that threatens the security of the organization's information is called an _________
Answer:
adverse event, incident
Explanation:
contingency planning is referred to as the planning for unexpected events. The main focus behind inducing Contingency planning is to restore the normal position without disrupting business operations.
An incident response plan is induced to take action against the incident while the Disaster recovery plan is used to restored business operation after incident occurred.
Determine the current ratio if current assets total $150,000, non-current assets are $205,000, current liabilities total $60,000, long-term liabilities total $80,000, and shareholder’s equity totals $215,000.
Answer:
The current ratio is 2.5:1
Explanation:
The current ratio is a relationship of the current assets and the current liabilities, and is normally expressed as a percentage.
Based on the data provided in the question, it is calculated as under:
Total Current assets $ 150,000
Total Current Liabilities $ 60,000
The current assets are two and a half times of the current liabilities. Using the lower figure as a base. the current assets are ratio comes out to be
2.5 : 1.
Robertson Properties, a large commercial property management firm, orders cleaning supplies directly from the manufacturer of those products. This purchase is part of the _______ market. a. business-to-consumer b. business-to-business c. competitive consumer
Answer:
The correct answer is letter "B": business-to-business.
Explanation:
Business-to-business (B2B) transactions are those held among companies. These relationships are typically seen in supply chains where one company depends on another or simply when a company needs services from other entity that is actually not a final user of the products the company is dedicated to offering.
Answer: B. Business-to-business
Explanation: Business-to-business (B2B or B to B) markets are those that involve trades and transactions between businesses, businesses rather than between a business and individuals or governments as the case may be. By ordering supplies to be utilized in the management business of Robertson Properties shows that it is a transaction between two business. B2B markets encompasses transactions between manufacturer and wholesaler, or a wholesaler and a retailer. B2B markets are mostly common common in a typical supply chain, automobile industries, manufacturing, service providers etc.
An investment pays $400 in one year, X amount of dollars in two years, and $500 in three years. The total present value of all the cash flows (including X) is equal to $1,500. If i is 6 percent, what is X?
Answer:
X = 789.70
Explanation:
we solve for X considerign each deposit is discounted at the given rate using the lump sum formula:
[tex]\frac{Maturity}{(1 + rate)^{time} } = PV[/tex]
[tex]\frac{400}{1.06}+\frac{X}{1.06^2} +\frac{500}{1.06^3} = 1,500\\X= (1,500 - \frac{400}{1.06} - \frac{500}{1.06^3}) \times 1.06^2[/tex]
X = 789.7018868
To find the cash flow amount in the second year (X) in this present value calculation, you should calculate the present values of the known cash flows for years 1 and 3, subtract that sum from the total present value, and then adjust for the present value calculation for year 2.
Explanation:This question involves the concept of present value in finance. The present value formula is a way to determine the current worth of a future sum of money, given a specified rate of return. This problem is asking you to find the amount in the second year (X) using the condition that the total present value is $1,500.
Using the Present Value (PV) formula PV = CF / (1 + r)^n where CF is cash flow, r is rate of interest, and n is number of years, the given conditions can be written as follows:
PV for year 1: 400 / (1 + 0.06)^1PV for year 2: X / (1 + 0.06)^2PV for year 3: 500 / (1 + 0.06)^3
The sum of these present values should be $1,500, so to find X, you should sum the PVs for years 1 and 3, subtract that sum from $1,500, and then adjust for the present value calculation for year 2. So, X = [$1,500 - (PV for year 1 + PV for year 3)] x (1 + 0.06)^2
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eBay's customers enrich the Web site by giving their reviews after every purchase. These reviews are used by buyers to evaluate the sellers in eBay. eBay also provides special privileges to sellers who have higher ratings. This is an example of ________.
a. value
b. chain
c. extension
d. reverse
The options are:
A) reverse engineeringB) value chain extensionC) focused strategyD) niche market
Answer:
Value chain extension.
Explanation:
Value chain extension are the steps a company takes to extend the reach of their products to customers, and multiple relationships are built that impacts the bottom line.
In this instance eBay customers write a review after each purchase and the reviews are now used by buyers to evaluate the seller's.
EBay in turn gives special privileges. This is eBay creating an extended value chain in delivering it's products to customers.
Determine if the people in the example have benefited (i.e., are winners) or have been harmed (i.e., are losers) by unexpected inflation.1. Winners2. Losers
Unexpected inflation can benefit borrowers and harm savers. Borrowers benefit because the real value of their debt decreases, while savers lose because their accumulated wealth's purchasing power diminishes.
Explanation:The impact of unexpected inflation on people largely depends on their individual financial situations. On one hand, borrowers or people in debt could be considered winners in unexpected inflation because the real value of the money they owe diminishes. In other words, they effectively pay back less than they borrowed. On the other hand, savers or people who have a large amount of cash on hand are often seen as the losers in these scenarios, as the purchasing power of their accumulated wealth decreases.
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Accounts receivable had a debit balance of $10,000 at the beginning of the period, and a debit balance of $6,000 at the end of the period.
Based on this information, the adjustment to net income for the period will be reported as:
A) an increase of $2,000 which will be subtracted from net income
B) a decrease of $2,000 which will be subtracted from net income
C) an increase of $2,000 which will be added to net income
D) a decrease of $2,000 which will be added to net income
In many poor countries even middle-class families may have full-time servants, a luxury reserved for only the very wealthiest households in rich countries like the United States. The existence of low-cost domestic help in poor countries makes PPP-adjusted GDP statistics in those countries:
O lower, because consumption baskets include less expensive domestic help, resulting in higher pricers.
O lower, because consumption baskets include less expensive domestic help, resulting in lower prices.
O higher, because consumption baskets include less expensive domestic help, resulting in lower prices.
O higher, because consumption baskets include less expensive domestic help, resulting in higher prices.
Answer:
higher, because consumption baskets include less expensive domestic help, resulting in lower prices.
Explanation:
Because the wages paid to house helps in poor countries are low resulting in higher PPP-adjusted GDP in these countries compared to rich countries that use GDp that is not adjusted.
The availability of cheap labor still exists in poor countries compared to rich countries because of the high cost of migration. So people providing cheap services cannot move.
Brangelina Adoption Agency’s general ledger shows a cash balance of $4,583. The balance of cash in the March-end bank statementis $7,325. The bank statement reveals the following information: checks outstanding of $2,793, bank service fees of $75, and interest earned of $24. Calculate the correct balance of cash at the end-of March.
Answer:
The correct cash balance is $7,325
Explanation:
When preparing bank reconciliation,some items are added while some are subtracted depending on which balance is started with.
In this case, the cash balance will be started with and adjusted to the correct balance at the end of March
$
Cash balance as per ledger 4,583
Add: interest earned 24
Less: Bank service fee (75)
Adjusted cash balance 4,532
Add back outstanding check 2,793
Correct cash balance as at end of March 7,325
Final answer:
To reconcile the Brangelina Adoption Agency's cash balance, various adjustments are made to the bank statement balance, including deducting outstanding checks and service fees and adding interest earned, resulting in an adjusted bank balance of $4,481.
Explanation:
To calculate the correct balance of cash at the end of March for the Brangelina Adoption Agency, we need to reconcile the general ledger balance with the bank statement balance. The reconciliation process includes adjusting the bank statement balance with the outstanding checks, bank service fees, and interest earned.
Bank Statement Balance: $7,325
Less: Checks Outstanding: -$2,793
Less: Bank Service Fees: -$75
Add: Interest Earned: $24
Now we can calculate the adjusted bank balance:
$7,325 (Bank Statement Balance) - $2,793 (Checks Outstanding) - $75 (Bank Service Fees) + $24 (Interest Earned) = $4,481 (Adjusted Bank Balance)
The general ledger shows a cash balance of $4,583. The bank statement adjusted balance is $4,481. There might be a discrepancy due to unrecorded transactions in the general ledger or bank statement. However, based on the information given, the correct cash balance at the end of March would be $4,481.
Seasonal patterns A. cannot be predicted.B. are multiyear runs of observations above or below the trend line.C. reflect a shift in the time series over time.D. are regular repeated patterns.
Answer:
The correct answer is letter "D": are regular repeated patterns.
Explanation:
In statistics, seasonal patterns are a group of components that tend to repeat their behavior over specific intervals. Those intervals are likely to be one year. Seasonal patterns oppose to cyclical patterns because the latter identifies repeated behavior over intervals that sometimes can be long or some times short.
Assume you sold short 100 shares of common stock at $50 per share. The initial margin is 60%. What would be the maintenance margin if a margin call is made at a stock price of $60?
Answer:
Maintenance margin at $60=[tex]\frac{\$8000-\$6000}{\$6000} =0.333=33.3\%[/tex]
Explanation:
Given Data:
Number of shares=100 shares
Cost per share=$50
Initial margin=60%=0.6
Required:
The maintenance margin if a margin call is made at a stock price of $60=?
Solution:
Cost of shares=100*50=$5000
Cost with initial margin=$5000*0.6=$3000
Total cost of shares=$5000+$3000=$8000
Cost of shares at $60=100*60=$6000
Maintenance margin at $60=[tex]\frac{Total\ cost\ of\ shares-Cost\ of\ shares\ at\ \$60}{Cost\ of\ shares\ at\ \$60}[/tex]
Maintenance margin at $60=[tex]\frac{\$8000-\$6000}{\$6000} =0.333=33.3\%[/tex]
When you sold short 100 shares at $50 with a 60% margin, you deposited $3000 to your margin account. A margin call at a stock price of $60 indicates that the equity in the margin account has decreased due to the increase in share price. The maintenance margin would be 50% in this case.
Explanation:In Finance and Investment studies, when you sold short 100 shares of common stock at $50 per share, the initial total value of these shares is $5000. With the initial margin at 60%, you would have had to deposit $3000 into your margin account. A margin call is made when the equity in the margin account falls below the maintenance margin. It is made to request that you deposit more cash or sell some of the securities held in the margin account. In this case, if a margin call is made at a stock price of $60, it means that the equity in the margin account has dropped to a certain point due to the increase in share price ($6000 in this case as each share is now worth $60).
To calculate the maintenance margin, subtract the equity in the margin account from the new total value of the stocks and divide the result by the new total value of the stocks. That is, (($6000-$3000)/$6000) which is 50%.
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Kinglinks, a cereal manufacturer, wants to promote its new line of protein bars to its target customers using a nonpersonal form of communication.
Kinglinks is least likely to rely on _____ as a means of communication.
A. advertising
B. direct marketing
C. sales promotion
D. public relations
Answer:
B. direct marketing
Explanation:
A non personal form of communication is a type of marketing that directed information to the public (non one to one communication) without a means of feedback.
Advertising is a marketing strategy directed to the public (target customers) letting them aware of the new products or an existing products to enhance increase in purchase.
Direct marketing is a one to one form of marketing which Kinglinks will not be doing.
Therefore, Kinglinks is least likely to rely on direct marketing as a means of communication.
Daria, age 28, is very short, has an abnormally small jaw, and her neck has extra folds of skin. She has never ovulated and has underdeveloped breasts. Daria displays the markers of ______ syndrome.
Answer:
Noonan Syndrome.
Explanation:
Daria displays the markers of Noonan syndrome.
Noonan Syndrome are genetic disorder with different abnormality, it evident since birth in most of cases. Range and severity may vary from person to person. It is caused by pathogenic variants. In 30 percent of infant with Noonan syndrome, may have abnormal opening in septum that divide upper chamber of heart. Noonan syndrome have affected more males than females. It was first reported in 1883.
Treatment of noonan syndrome is depend upon the specific complication of individuals.
Assume the company is considering investing in a new machine that will increase its fixed costs by $40,500 per year and decrease its variable costs by $9 per unit. Prepare a forecasted contribution margin income statement for 2020 assuming the company purchases this machine.
Answer:
Explanation:
*Data is incomplete a similar question is attached with the answer and answer is made accordingly.
Hundson Co
Forecasted Contribution Margin Income Statement
For year ended December 31, 2017
$
Sales (9600 x 225) 2,160,000
Variable Cost (9600 x (180-9)) 1,641,600
Contribution Margin 518,400
Fixed Cost (324,000+40,500) 364,500
Pretax Income 153,900
The new machine will increase fixed costs by $40,500 per year, but decrease variable costs by $9 per unit. This will increase the contribution margin per unit, i.e., each unit sold will provide more towards covering fixed costs and profit. The decision may be beneficial if the total savings in variable costs outweigh the increased fixed costs, emphasizing the role of sales volume.
Explanation:In order to prepare the forecasted contribution margin income statement for 2020, we need further information such as the selling price per unit, the current fixed and variable costs, and the projected sales volume for 2020. However, we can discuss how the new changes will affect the contribution margin.
The machine will add $40,500 to fixed costs per year but will decrease variable costs by $9 per unit. The contribution margin per unit, which is sales price per unit minus variable cost per unit, will increase as a result of lower variable costs associated with each unit. This means each unit sold will contribute more towards covering the fixed costs and towards profit.
Despite the increase in fixed costs due to the machine, the decision might be favorable if the total savings in variable costs exceed the increase in fixed costs (i.e., if $9 times the number of units sold is greater than $40,500), showing the importance of sales volume in this decision.
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Suppose you are in charge of sales at a pharmaceutical company, and your firm has a new drug that causes bald men to grow hair. Assume that the company wants to earn as much revenue as possible from this drug. If the elasticity of demand for your company’s product at the current price is 1.4, what would you advise the company to do?
Answer:
The company should increase the number of units she is producing
Explanation:
Since the elasticity of demand for the product is greater than one (1.4), it means the demand for the new drug is elastic, meaning the demand for the new drug is sensitive to price – the higher the price, the lower the quantity demanded and the vice-versa. So the pharmaceutical company should be careful of charging higher than the other competitors.
What the company needs to do to increase its revenue is to produce large quantity of the drug in order to earn higher and gain larger market share and probably economies of scale.
For example, If the company produces 400 units of the drug at $2, the revenue will be $800.
To increase the revenue, the company needs to increase its production.
For example, the increases the production to 500 units at the prevailing price of $2, therefore, the revenue will be $1000
Consider a four-step serial process with processing times given in the list below. There is one machine at each step of the process, and this is a machine-paced process. Step 1: 34 minutes per unit. Step 2: 23 minutes per unit Step 3: 29 minutes per unit Step 4: 24 minutes per unit Assuming that the process starts out empty, how long will it take (in hours) to complete a batch of 97 units? (Do not round intermediate calculations. Round your answer to nearest hour)
Answer 98
Explanation:
An on-premises workload consists of a single server with an Apache instance and a MySQL database. The Solutions Architect plans to migrate the on-premises database to MySQL on Amazon RDS using multiple Availability Zones. What solution ensures that the remaining workload will be highly?
Answer:
Provision the workload in an Auto Scaling group across Availability Zones, with a minimum of two Amazon EC2 instances Use an Application Load Balancer in front of an Auto Scaling group.
Explanation:
To ensure high availability configure at least 2 EC2 instances so if one fails the other will be a backup. Also aouto scale across various regional availability groups. Worldwide Amazon has various availability stations so making the workload available across multiple regions ensure it will not be affected incase a region goes down.
Sobota Corporation has provided the following partial listing of costs incurred during August:
Marketing salaries $ 51,900
Property taxes, factory $ 10,300
Administrative travel $ 105,000
Sales commissions $ 52,400
Indirect labor $ 44,100
Direct materials $ 172,600
Advertising $ 144,000
Depreciation of production equipment $ 48,300
Direct labor $ 94,500
Required:
a. What is the total amount of product cost listed above?
b. What is the total amount of period cost listed above?
Answer:
a. The total amount of product cost is $369,800
b. The total amount of period cost is $353,300
Explanation:
Product costs are costs that are directly incurred in the production of goods. Products costs are traceable to production of goods. Examples of products costs are direct material cost and direct labor cost.
In contrast, period costs are costs that are incurred on the general affairs of the business. They are not related to production of goods. They are incurred on administering a business. Example includes salaries paid to directors of a company
Total amount of product cost $
Property taxes, factory 10,300
Indirect labor 44,100
Direct materials 172,600
Depreciation of production equipment 48,300
Direct labor 94,500
369,800
Total amount of period cost: $
Marketing salaries 51,900
Administrative travel 105,000
Sales commissions 52,400
Advertising 144,000
353,300
Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has determined that she will need to have $3,000,000 in her retirement savings account in order to live comfortably. Mary currently has no retirement savings, and her investments will earn 4% annually.
a. How much must she deposit into her account at the end of each of the next 40 years to meet her retirement savings goal?
Answer:
Annual deposit= $31,570.47
Explanation:
Giving the following information:
She has determined that she will need to have $3,000,000 in her retirement savings account.
Her investments will earn 4% annually.
To calculate the annual deposit we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (3,000,000*0.04)/[(1.04^40)-1]= $31,570.47
To meet her retirement savings goal of $3 million, Mary needs to deposit approximately $28,374 at the end of each of the next 40 years, assuming her investments will yield a 4% annual return.
Explanation:Mary needs to make use of the formula for the future value of an annuity since she is making regular deposits into her retirement savings account. The future value (FV) of an annuity formula is: FV = P * [(1 + r)n - 1] / r, where P is the regular deposit amount, r is the annual interest rate, and n is the number of periods.
In this case, Mary needs a FV of $3,000,000, the interest rate (r) is 4% or 0.04, and she will make the deposits for 40 years, so n = 40.
We need to rearrange the formula to solve for P, the unknown deposit amount: P = FV * r / [(1 + r)n - 1]
So, P = $3,000,000 * 0.04 / [(1 + 0.04)40 - 1].
After calculating this, Mary must deposit roughly $28,374 at the end of each of the next 40 years to meet her retirement savings goal of $ 3 million.
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What's the present value of $1,700 discounted back 5 years if the appropriate interest rate is 6%, compounded monthly? a. $1,335.95 b. $1,298.14 c. $1,398.97 d. $1,411.57 e. $1,260.33
Answer:
e. $1,260.33
Explanation:
If the annual rate is 6%, the monthly interest rate 'r' is:
[tex]r= \frac{6\%}{12}=0.5\%[/tex]
The present value 'P' of an investment 'F', discounted at a monthly rate 'r' for a period of 'n' years is:
[tex]P=\frac{F}{(1+r)^{12*n}}[/tex]
If the future value after 5 years at a rate of 0.5% per month is $1,700, the present value is:
[tex]P=\frac{\$1,700}{(1+0.005)^{12*5}}\\P=\$1,260.33[/tex]
The present value is $1,260.33.
The costs incurred in the inspection of final products or services is an example of a(n) ________. AN. internal failure cost B. appraisal cost C. external failure cost D. prevention cost
Answer:
The correct answer is letter "B": appraisal cost.
Explanation:
Appraisal costs are the expenditures incurred by a company as part of the quality control process. Those fees are paid for the inspection of the products being sold before they each end-users so defects can be detected if there is any. Providing customers with faulty goods can cause the company being imposed lawsuits or penalties that end up being more expensive than appraisal costs.
If a country experiences a rise in prices but produces the same quantity of output as in the previous year, its nominal GDP will _____ and its real GDP will _____.
Answer:
Increases
Stays the same
Explanation:
Nominal GDP is output produced by a country multiplied by current year prices.
Real GDP is output produced by a country multiplied by base year prices. The real GDP adjusts for the effects of inflation.
I hope my answer helps you
________ represents a debt owed for renting a building.A.Rent PayableB.Rent ExpenseC.Rent RevenueD.Prepaid Rent
Answer:
A. Rent Payable
Explanation:
Rent Payable refers to an expense which is certain and is to be paid in future. It represents a debt in the sense that it is an obligation which is required to be met in the near future.
The journal entry for rent payable is recorded as follows,
Rent A/C Dr.
To Rent Payable A/C
(Being rent payable recorded)
Rent Payable A/C is a liability while rent is an expense. Expenses are debited and liabilities are credited so as to recognize them.
Final answer:
Rent Payable represents a debt owed for renting a building; it is a liability that reflects the obligation to pay for building use in a future period.
Explanation:
The term that represents a debt owed for renting a building is Rent Payable. This is because it is an obligation that the company has to pay for the use of a building for a certain period. Rent payable is a liability on the balance sheet and differs from rent expense, which reflects the cost of rent that has already been used up during an accounting period. Rent Revenue is what a company earns from renting out property, whereas Prepaid Rent represents rent payments made in advance for future periods.
Seth appears to be taken aback by the number of files on his desk and his coworker’s comments about his boss. This reaction depicts the _______ stage of the socialization process.
Answer:
ENCOUNTER
Explanation:
Seth appears to be taken aback by the number of files on his desk and his coworker’s comments about his boss. This reaction depicts the Encounter stage of the socialization process.
If Rachel invests $1700 today in an account that pays 6 percent interest compounded annually, how long will it take for her to accumulate $6,500 in her account?
Answer:
23.02 years
Explanation:
The expression that describes the future value of an investment (P) at an annual rate (r) for a period of n years, compounded annualy is:
[tex]FV = P*(1+r)^n[/tex]
If Rachel wants to accumulate $6,500 with an investment of $1,700 at 6% per year, the length of her investment, in years, must be:
[tex]6,500 = 1,700*(1+0.06)^n\\1.06^n = 3.8235\\n=\frac{log(3.8235)}{log(1.06)}\\n=23.02\ years[/tex]
It will take Rachel roughly 23.02 years to accumulate $6,500.
Gail K. Company manufactures waterproof cell phone covers. During the current month, the purchasing manager purchased $26,700 of raw materials. At the beginning of the month, Gail had 50 partially completed cell phone covers on hand. The cost of these partially completed units was $7,200. At the end of the month, Gail had 0 partially completed cell phone covers; all cell phone covers had been completed. During the month, the company incurred the following costs. Material used (direct $21,300; indirect $3,700) Hourly wages paid (direct $34,100; indirect $5,900 $25,000 2 40,0 5,200 4,900 3,620 Factory rent Factory utilities Factory insurance Factory ianitorial service
What is the cost of goods manufactured for the period?
A : $73,900
B : $90,500
C : $81,600
D : $88,800
Answer:
D : $88,800
Explanation:
Cost of goods manufactured :
Direct Material used in production $ 21,300
Indirect Material used in production $ 3,700
Direct Labour $ 34,100
Direct Labour $ 5,900
Manufacturing overhead $ 16,600
Total Manufacturing cost $ 75100
Add:Beginning Work in process inventory $7,200
Less: Ending Work in process inventory $ 0
Cost of Goods Manufactured $88,800