ransactions:
1. Tran Lee invested $15,000 cash in the business.
2. Paid $750 rent for the month.
3. Purchased sewing equipment for $1,750.
4. Purchased sewing supplies, $250, on account from Eastern Notions Company.
5. Received $189 for alterations.
6. Completed a large tailoring job and received $1,149 for services.
7. Tran Lee withdrew $200 for personal use.
8. Did tailoring work on account for $256.
9. Paid $150 on account owed to Eastern Notions Company.
(1) Prepare a T account for each account used by Lee's Tailoring Service.
(2) Analyze each transaction and record the transaction in the appropriate T accounts.
(3) After recording all the transactions, compute the balance of each account. Indicate the normal
balance by writing "Balance" on the normal balance side of the account.
(4) Test the equality of debits and credits.
(Record the transactions in the given order. Be sure to list the assets, liabilities and owner's equity in order of their liquidity. Omit the "$" sign in your response.)
General Ledger
Cash in Bank
(1)
$
15,000
(2)
$
750
(5)
189
(3)
1,750
(6)
1,149
(7)
200
(9)
150
Balance $
13,488
Accounts Receivable
(8)
$
256
Balance $
256
Sewing Supplies
(4)
$
250
Balance $
250
Sewing Equipment
(3)
$
1,750
Balance $
1,750
Accounts Payable
(9)
$
150
(4)
$
250
Balance $
100
Tran Lee, Capital
(1)
$
15,000
Balance $
15,000
Tran Lee, Withdrawals
(7)
$
200
Balance $
200
Tailoring Fees
(5)
$
189
(6)
1,149
(8)
256
Balance $
1,594
Rent Expense
(2)
$
750
Balance $
750
Account Name Debit Credit
Cash in Bank
$
13,488
Accounts Receivable
$256
Sewing Supplies
$250
Sewing Equipment
$1,750
Accounts Payable
$100
Rent Expense
750
$
30,338
Cash in Bank
$
$13,488
Accounts Payable
$100
Tran Lee, Capital
$15,000
$
28,588
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Answers
Answer:
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Explanation:
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Related Questions
If a perfectly competitive firm receives a marginal revenue of $10 for its product and the minimum average variable cost is $11, then the firm should, in the short run:
a.reduce the level of output its produces
b.increase the level of output it produces
c.neither increase nor decrease the level of output it produces
d.shut down
Answers
If a perfectly competitive firm receives a marginal revenue of $10 for its product and the minimum average variable cost is $11, then the firm should, in the short run shut down.
For a perfectly competitive firm, the marginal revenue tends to equal price and as well as the average revenue. So, this implies that the firm's marginal cost curve in its short-run supply curve for values is thus greater than the average variable cost. So, if the price drops below average variable cost, the firm shuts down.
So, a firm's total profit is maximized by the producing the level of output at which marginal revenue for the last unit produced will thus equal its marginal cost, or MR = MC.
Hence, option D is correct.
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At the end of a group discussion, the group leader Peter reiterated the major points of the discussion to the group. Which leadership role did Peter perform?
Answers
Based on the information given, it should be noted that the leadership role carries out is known as coordination.
Who is a leader?It should be noted that a leader simply means someone who influences other people and guides them in order to achieve a particular goal.
Based on the information given, at the end of a group discussion, the group leader Peter reiterated the major points of the discussion to the group. This is simply known as summarizing. From the leadership point of view, he served the function of coordination.
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Kyle is applying to be a police officer. In his interview, he describes that he loves watching the news and following current cases. He explains that he is honest, caring, compassionate, and has a very deep sense of integrity. He then explains that he is in excellent physical condition and trains regularly in hand-to-hand combat. He tells them that he is a member of the Police Explorers, a group that trains and rides along with the local police. He also tells them that he graduated at the top of his class and was a state finalist on the mock trial team.
Answers
Answer:
The answer is the last table, option D.
Explanation:
In the table, Kyle's personal interests are following current cases, and his values are listed as honest, caring, compassionate, and integrity. His skills are physical conditioning, and training regularly. His achievements are good grades and being a state finalist on a mock trial team. He has experience in being an explorer. I took the test on Edgeunity and got the correct answer.
Answer:
DDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDDD
Explanation:
erdue Company purchased equipment on April 1 for $36,180. The equipment was expected to have a useful life of three years, or 7,020 operating hours, and a residual value of $1,080. The equipment was used for 1,300 hours during Year 1, 2,500 hours in Year 2, 2,100 hours in Year 3, and 1,120 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) units-of-activity method, and (c) the double-declining-balance method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. a. Straight-line method
Answers
Answer:
Perdue Company
Depreciation expense for the years ended December 31:
Year 1 Year 2 Year 3 Year 4
a) Straight-line method $11,700 $11,700 $11,700 $0
b) Units-of-activity method $6,500 $12,500 $10,500 $5,600
($5 x 1,300) ($5 x 2,500) ($5 x 2,100) ($5 x 1,120)
c) Double-declining method $24,121 $8,040 $2,939 $0
1st year = $36,180 * 0.6667 = $24,121
2nd year = $12,059 * 0.6667 = $8,040
3rd year = ($36,180 - 24,151 - 8,040 - 1,080) = $2,939
Explanation:
a) Data and Calculations:
April 1 Purchased Equipment = $36,180
Useful life = 3 years or 7,020 operating hours
Residual value = $1,080
Depreciable amount = $35,100
Under Straight-line method, depreciation rate per annum = $11,700 ($35,100/3).
Under the units-of-activity method, the depreciation rate per hour = $5 ($35,100/7,020).
Under the double-declining method, the depreciation percent = 0.6667 (100/3) * 2.
The double-declining method does not consider the residual value at the beginning, but at the end of the computation.
What are the arguments for and against using artificial intelligence (AI) in a business? Explain in your own words.
Answers
Answer:
Experts of Man-made consciousness (artificial intelligence)
The experts of computer based intelligence applications might alter areas or ventures going ahead in significant ways, including the accompanying:
1. Lessens Human Blunder
2. Works with Quicker Independent direction
3. Offers Constant day in and day out Accessibility
4. Decreases Chance
Cons of Man-made brainpower (computer based intelligence)
Artificial intelligence isn't invulnerable from inconveniences and dangerous worries, including these six:
1. Requires Higher In general Expenses
2. Decreases Business
3. Needs Innovative Capacity
Explanation:
The arguments for and against using artificial intelligence (AI) in a business are High Costs of Creation, making humans lazy, no emotions, reduction in out of box thinking.
The firms that have successfully expanded AI across the organization and realized meaningful returns on their investments tend to allocate 10% of their AI budget to algorithms, 20% to technologies, and 70% to integrating AI into agile business processes.
In other words, these businesses spend twice as much on personnel and organizational procedures as they do on technology.Businesses that underinvest in people and processes quickly lose ground in the AI race. That's because starting a string of fruitful AI scale pilots is quite simple.
To use AI at scale across the organization, the proper strategy and attention on change management are essential.Companies will need to look beyond automation in order to realize meaningful financial gains from their equipment—and should instead concentrate on organizational change and learning.
A symbiotic relationship is required, in which businesses use whatever human-machine interaction the situation necessitates and adjust as necessary to changing environments, situations, and scenarios.
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Asset Traded for Similar Asset A printing press priced at a fair market value of $275,000 is acquired in a transaction that has commercial substance by trading in a similar press and paying cash for the difference between the trade-in allowance and the price of the new press. a. Assuming that the trade-in allowance is $90,000, what is the amount of cash given? b. Assuming that the book value of the press traded in is $68,000, what is the gain or loss on the exchange?
Answers
Assuming that the trade-in allowance is $90,000, The amount of cash given is $185,000 . b. Assuming that the book value of the press traded in is $68,000, the gain or loss on the exchange is $22,000.
How to find the gain or loss on the exchange?a. Amount of cash
Amount of cash = Fair market value - Trade-in allowance
Amount of cash = $275,000 - $90,000
Amount of cash = $185,000
b. Gain or loss on the exchange
Gain or loss on the exchange = Fair market value - ( Book value + Cash)
Gain or loss on the exchange = $275,000 - ($68,000 + $185,000)
Gain or loss on the exchange = $275,000 -$253,000
Gain or loss on the exchange = $22,000 (Gain)
Therefore the cash is $185,000 and gain or loss on the exchange is $22,000.
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In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 400 units at $7 on January 1, (2) 600 units at $10 on January 8, and (3) 930 units at $11 on January 29. Assume 1,130 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the (a) FIFO, (b) LIFO, and (c) weighted average cost flow assumptions. Assume perpetual inventory system and sold 800 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.)
Answers
Answer:
(a) FIFO
Cost of Goods Sold = $6,800
Ending Inventory = $12,230
(b) LIFO
Cost of Goods Sold = $7,400
Ending Inventory = $11,630
(c) weighted average cost
Cost of Goods Sold = $7,040
Ending Inventory = $11,990
Explanation:
Perpetual inventory method ensures that cost of sales and inventory value is determined after each and every transaction.
FIFO
This method assumes that the units to arrive first, will be sold first. This means the cost of sales is based on the earlier (old) prices and inventory valuation is based on recent (later) prices.
Cost of Goods Sold = 400 x $7 + 400 x $10 = $6,800
Ending Inventory = 200 x $10 + 930 x $11 = $12,230
LIFO
This method assumes that the units to arrive last , will be sold first. This means the cost of sales is based on the recent (later) prices and inventory valuation is based on earlier (old) prices.
Cost of Goods Sold = 600 x $10 + 200 x $7 = $7,400
Ending Inventory = 200 x $7 + 930 x $11 = $11,630
Weighted Average Cost Method
A new unit cost is calculated with each and every purchase made. This new unit cost is then used to determine the cost of goods sold and the value of inventory.
New Unit Cost - 8 jan = (400 x $7 + 600 x $10) ÷ 1,000 = $8.80
New Unit Cost - 29 jan = (200x $8.80 + 930 x $11) ÷ 1,130 = $10.61
therefore,
Cost of Goods Sold = 800 x $8.80 = $7,040
Ending Inventory = 1,130 x $10.61 = $11,990
Fill out the tax forms for:Ivy Perry, age 40, is single and has no dependents. She is employed as a legal secretary by Legal Eagle Beagle, Inc. She owns and operates Type It located near the campus of Florida Community College at 200 College Road. Ivy is a material participant in the business. She is a cash basis taxpayer. Ivy lives at 6020 College Road, Pensacola, Fla. 33210. Ivy's Social Security number is 123-44-5678. Ivy indicates that she wishes to designate $3 to the Presidential Election Campaign Fund. During 2021, Ivy had the following income and expense items: a. $50,000 salary from Legal Eagle Beagle, Inc. b. $20,000 gross receipts from her typing business c. $700 interest income from Florida Community Bank. d. $1,000 Christmas bonus from Legal Eagle Beagle, Inc. e. $60,000 life insurance proceeds on the death of her brother. f. $5,000 check given by her wealthy uncle g. $100 won in a bingo game. h. Expenses connected with the typing business: Office Rent Supplies Utilities and telephone Wages paid to part-time typists Payroll Taxes Equipment Rentals $7,000 4,400 4,680 5,000 500 3,000 i. $8,346 interest expense on a home mortgage (paid to Florida Community Savings& Loan) j. $5,000 fair market value of silverware stolen from her home by a burglar on October 12 2021; Ivy had paid $4,000 for the silverware on July 1, 2008. She was reimbursed $1,500 by her insurance company k. Ivy had loaned $2,100 to a friend, Deb Dobson, on June 3, 2018. Deb declared bankruptcy on August 14, 2021 , and was unable to repay the loan. Legal Eagle Beagle, Inc. withheld Federal income tax of $7,500 and FICA tax of $3,551 (which was adequate for 2021). Assume the loan is a bona fide debt. 1. m. Alimony of $10,000 received from her former husband, Tony Springfield. n. Interest income of $800 on City of Pensacola bonds. o. Ivy made estimated Federal tax payments of $1,000. p. Sales tax from the sales tax table of $654. q. Charitable Contributions of $2,500. What is the Total income, Adjusted gross income, Taxable income, Tax liability, and amount of federal tax due or refunded.
Answers
Based on the provided information, Ivy Perry's tax situation for 2021 is as follows:
Total Income: $71,800
Adjusted Gross Income (AGI): $47,220
Taxable Income: $34,670
Tax Liability: $3,961.40
Federal Tax Refund: $4,538.60
What is taxation?Taxation is the imposition of compulsory levies on individuals or entities by governments.
It should be noted that Taxes are levied in almost every country of the world, primarily to raise revenue for government expenditures, although they serve other purposes.
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Simple interest is paid oniy on the
Answers
Answer:
Principal amount only
Explanation:
Simple interest is calculated based on the principal amount borrowed or the principal deposit. If the principal amount does not change, the simple interest earned will remain a constant figure through the loan or deposit life. Simple interest does not increase or decrease the principal amount.
Simple interest contrast with compound interest that adds interest earned to the principal amount at the end of a season.
Explain the types of utility and the role marketing plays in their creation.
Answers
Based on the marketing concept, various utilities seek to enhance the product's usefulness to customers in a way that persuades them to make a purchase. E.g. Form, time, place, etc.
What is Marketing Utility?Marketing Utility is a term that is used to describe the idea that the promising way to sell a product to a consumer is to show them how the product could provide value to their life.
Generally, Marketing Utility includes the integration of a product into a customer's lifestyle by underlining how it can figure out a problem related to the consumer's needs.
Types of Marketing Utility are:FormTimePlaceInformationAlso, the role of marketing in utility helps develop a value proposition of products that explains the unique benefits a commodity can provide to consumers.
Hence, in this case, it is concluded that Marketing Utility is vital in the product's sales.
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Weigh any 5 factors that could cause an increase in the credit items of the balance of payments and a decrease in the debit items. (10 marks)
Answers
The five factors that could cause an increase in credit items and a decrease in debit items in balance of payments are Increase in exports, Increase in foreign investment, Increase in tourism, Increase in remittances and Increase in foreign aid.
What is BOP?The balance of payments (BOP) is a record of all financial transactions between a country and the rest of the world.
The credit items refer to inflows of foreign exchange, while debit items refer to outflows of foreign exchange.
An increase in exports can lead to an increase in foreign investment and an increase in tourism, all of which would contribute to an increase in credit items and a decrease in debit items in balance of payments.
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The quantity theory of money states
that MV = PQ.
Given:
M= 30
V = 50
P = 10
What value would "Q" need to be to balance
the equation?
A. 50
B. 100
3. 150
Answers
Answer:
3. 150
Explanation:
Substitute the letters for the numbers and solve.
MV = PQ=
30×50 = 1500
10 × 150 = 1500
Q= 150
Which federal legislation requires lenders to provide consumers with loan cost information?
O The Credit Card Accountability Responsibility and Disclosure Act
The Fair Credit Reporting Act
O The Fair Debt Collection Practices Act
O The Truth in Lending Act
Answers
The federal legislation that requires lenders to provide consumers with loan cost information is: D. The Truth in Lending Act.
What is The Truth in Lending Act?The Truth in Lending Act is a federal agency whose roles and responsibility is to help protect borrowers from lender that may want to cheat them as this this agency ensures that lenders disclosed the terms and condition of a loan to the borrower so as to prevent the borrower from untrue credit billing or credit billing that are not correct.
Which is why The Truth in Lending Act is a very important agency based on the fact that without this agency some of this lender can present untruthful loan information to a borrower.
With truth lending act, it is assured that borrower are protected from untruthful lenders .
Therefore we can conclude that the correct option ids D.
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A fundamental principle in demand analysis is that a change in price leads to Group of answer choices a shift of the demand curve. a movement along the demand curve. a leftward shift of the demand curve. a complementary movement on the supply curve.
Answers
Answer: a movement along the demand curve.
Explanation:
When the price of a good changes, demand is supposed to react to that by moving along the demand curve because the demand curve is a visual representation of the goods demanded by people at various prices.
For instance, if the price of a normal good increases, the demand will likely decrease and there will be a movement up the demand curve to show that less goods are being demanded. The reverse holds true.
Under the perpetual inventory system, Village Fabrics purchased 25 yards of blue plaid fabric at a cost of $2.00 per yard on June 1; on June 3, 22 yards were sold of the blue plaid; a new shipment came in with 25 more yards at a cost of $2.25 per yard on June 5; on June 15, 17 yards of the blue plaid fabric were sold; Village Fabrics purchased another 25-yard bolt at a cost of $2.50 per yard on June 19; on June 27, 6 more yards had been sold. No inventory was on hand at the beginning of the month. What is the cost of merchandise sold and cost of inventory under the FIFO method for June
Answers
Answer:
see explanation
Explanation:
FIFO Assumes that the units to arrive first will be sold last. Therefore the cost of merchandise sold is based on the earlier or old prices and the cost of inventory is based in later or recent prices.
CSelect the items from this list that are examples of misconceptions.
A high school student is too young to have a budget.
A bank is not a safe place to keep your money.
Buy stock before you have a steady income.
After high school, there is no need to become more educated.
Save your money as soon as you have a full-time job.re the deadline.
Answers
D- there’s is more to learn outside of high school for many careers
probably B too but i’m not sure
As a result of a review and aging of accounts receivable in early January 2018, it has been determined that an allowance for doubtful accounts of $16700 is needed at December 31, 2017. What amount should Swifty record as "bad debt expense" for the year ended December 31, 2017?
Answers
Answer:
The full question is "The following information is available for Murphy Company Allowance for doubtful accounts at December 31, 2018 Credit sales during 2019 Accounts receivable deemed worthless and written off during 2019 $ 24,000 1,200,000 27.000 As a result of a review and aging of accounts receivable in early January 2018, it has been determined that an allowance for doubtful accounts of $16,000 is needed at December 31, 2018 What entry will Murphy make to record "bad debt expense" for the year ended December 31, 2017"
Journal Entry for the bad debt expenses
Date Account Title and Explanation Debit Credit
Dec 31 Bad Debt Expense $19,000
($16,000 + $3,000)
Allowance for Doubtful Accounts $19,000
(To record bad debt expense)
Workings
Allowance for Doubtful Account
Write off $27,000 $24,000 Beginning balance
Unadjusted balance $3,000
$19,000 Adjustment
$16,000 Ending balance
Bad Debt Expenses
Beginning balance $0
Adjustment $19,000
Ending balance $19,000
which career field is likely to experience growth in salary in the next few years below the annual median? education, hospitality, government, construction.
Answers
The government is the career field that is likely to experience growth in salary in the next few years below the annual median.
What is a government?This refers to the system of governing an organized community, generally a state. In the case of its broad associative, the government normally consists of legislature, executive, and judiciary.
The other terms for government are executive, regime, authority, powers that be, directorate, council, leadership, management. cabinet, ministry. rule, term of office, incumbency.
Hence, the government is the career field that is likely to experience growth in salary in the next few years below the annual median.
Therefore, the Option C is correct.
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Wally's Walleyes wants to introduce a new product that has a start-up cost of $7,800. The product has a 2-year life and will provide cash flows of $4,500 in Year 1 and $4,300 in Year 2. The required rate of return is 15 percent. Should the product be introduced? Why or why not?
Answers
The calculated NPV is negative, indicating that the present value of expected cash flows does not exceed the start-up cost of the project. In other words, the project is expected to generate a net loss.
To determine whether Wally's Walleyes should introduce the new product, we can calculate the net present value (NPV) of the project. The NPV measures the present value of expected cash flows, taking into account the required rate of return.
To calculate the NPV, we need to discount the cash flows using the required rate of return (15 percent). The formula for calculating NPV is:
NPV = Cash Flow Year 1 / (1 + Required Rate of Return)^1 + Cash Flow Year 2 / (1 + Required Rate of Return)^2 - Start-up Cost
\(NPV = $4,500 / (1 + 0.15)^1 + $4,300 / (1 + 0.15)^2 - $7,800\)
\(NPV = $4,500 / 1.15 + $4,300 / (1.15)^2 - $7,800\)
NPV = $3,913.04 + $3,537.41 - $7,800
NPV = -$350.55
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(Just need some ideas and inspiration) What do you consider the most important challenge that will face people in the United States in the years ahead?
Answers
Food security, hunger, poverty, population growth, pollution, heatwaves, droughts, and climate change are all interconnected.
What is Food security?Food security refers to the availability of food in a nation and the capacity of its citizens to obtain, afford, and procure enough food.
The United Nations Committee on World Food Security defines food security as everyone having constant physical, social, and economic access to enough, safe, and nourishing food that satisfies their dietary needs and food preferences for an active and healthy life.
Another aspect of food security is the accessibility of food regardless of class, gender, or area.
Food security was a problem many thousands of years ago, as shown by the fact that central governments in ancient China and ancient Egypt were known to release food from storage during famines.
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The capital budget forecast for the Santano Company is $725,000. The CFO wants to maintain a target capital structure of 45% debt and 55% equity, and it also wants to pay dividends of $550,000. If the company follows the residual dividend policy, how much income must it earn, and what will its dividend payout ratio be?
Select the correct answer.
a. NI = $948,570
Payout = 57.93%
b. NI = $948,210
Payout = 57.85%
c. NI = $948,930
Payout = 58.01%
d. NI = $948,750
Payout = 57.97%
e. NI = $948,390
Payout = 57.89%
Answers
According to the residual dividend policy, the net income comes out to be $948,750 with a dividend payout ratio of 57.97%.
What is the net income?
Net income is the value that is determined by deducting the charges from the revenues and can be inferred from the profit or loss statement prepared by the company at the year-end.
Given values:
Capital budget: $725,000
Equity ratio: 55%
Dividends: $550,000
Step-1 Computation of net income as per residual dividend policy:
\(\rm\ Net \rm\ Income=(\rm\ Capital \rm\ Budget \times\ \rm\ Equity \rm\ Ratio)+\rm\ Dividends\\\rm\ Net \rm\ Income=(\$725,000\times\55\%)+\$550,000\\\rm\ Net \rm\ Income=\$398,750+\$550,000\\\rm\ Net \rm\ Income=\$948,750\)
Step-2 Computation of dividend payout ratio:
\(\rm\ Dividend \rm\ Payout \rm\ Ratio=\frac{\rm\ Dividends}{\rm\ Net \rm\ Income} \\\rm\ Dividend \rm\ Payout \rm\ Ratio=\frac{\$550,000}{\$948,750} \\\rm\ Dividend \rm\ Payout \rm\ Ratio=57.97\%\)
Therefore, option D is the correct answer.
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Importance of integrating hr function with strategic organisational goals
Answers
Explanation:
Aligning HR with business strategy can boost employee satisfaction and performance, ensure teams are aligned to help the business achieve its strategic objectives, and increase their influence and decision-making power across the organization.
Business success requires the HR function to be integrated with strategic company goals. Achieving strategic alignment between HR's efforts to recruit, develop, and retain elite personnel and the organization's goals helps boost overall company performance.
HR function is in charge of managing a company's talent, which includes recruiting, fostering, and educating staff members. When the organization's strategic goals are aligned, the HR department can ensure that the required staff is in place to help achieve those goals. Organizational Culture: HR play a significant role in establishing the organizational culture. When HR is linked with the organization's strategic goals, it may help create a culture that supports those goals. Performance management plans that are in line with the goals of the organization must be developed and implemented by HR. Cost Management: HR is also in charge of managing costs associated with employee compensation and benefits.
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Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,650, and Job 94 with a beginning balance of $7,270. Jagjit applies overhead at the rate of $9 per direct labor hour. Direct labor wages average $16 per hour. Data on August costs for all jobs are as follows:
Job 93 Job 94 Job 95 Job 96
Direct materials $910 $4,590 $3,330 $1,270
Direct labor cost 2,080 4,800 2,400 960
During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process.
Refer to the list below for the exact wording of text items within your job-order cost sheets.
Amount Descriptions
Applied overhead
Beginning balance
Direct labor
Direct materials
Total
Jagjit Company
Job-Order Cost Sheets
August 31
1
Job 93
Job 94
Job 95
Job 96
2
Beginning balance
3
4
5
6
4. Calculate the balance in Work in Process on August 31.
The work in process balance on August 31 is .
Points:
0 / 1
5. What is the price of Job 93?
The price of Job 93 is .
Points:
0 / 1
Partway through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $38,500 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor.
6. CONCEPTUAL CONNECTION: Complete the statement below that outlines how the bulldozer’s cost could be applied to only those jobs that need the larger equipment.
Create a separate ________ for the acquisition and use of the bulldozer. Treat the bulldozer’s depreciation, fuel, maintenance, etc. as _______ . Divide this by the anticipated annual hours of use to arrive at the ___________ .
Answers
Answer:
retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,650, and Job 94 with a beginning balance of $7,270. Jagjit applies overhead at the rate of $9 per direct labor hour. Direct labor wages average $16 per hour. Data on August costs for all jobs are as follows:
Job 93 Job 94 Job 95 Job 96
Direct materials $910 $4,590 $3,330 $1,270
Direct labor cost 2,080 4,800 2,400 960
During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process.
Refer to the list below for the exact wording of text items within your job-order cost sheets.
Amount Descriptions
Applied overhead
Beginning balance
Direct labor
Direct materials
Total
Explanation:
hello
Imagine that you are the only person that sells hot dogs on a street . At what price would you sell it for and why ?
Answers
two ways in which best bank can adapt to the challenges of the macro environment
Answers
Answer:
Mergers or Information Management
Explanation:
Mergers-In order to respond to certain challenges, businesses may choose to merge with another business. The new business will have a larger market share than either of the original businesses did.
Information management -All changes lead to new information that needs to be distributed to all the relevant parties.
Information must be managed efficiently and a system must be in place so that the relevant staff can easily access it.
Information must be protected and kept secure to protect the company's intellectual property.
Drag the tiles to the correct boxes to complete the pairs.
Match each financial concept with its correct situation.
time value of money
store of value
personal disposable income
consumer credit
Angela chooses between having $1,000 now,
and investing it in a savings account so that
she can have $1,050 a year from now.
>
Jane has $2,500 monthly to spend after she
pays taxes
>
David saves his money for the future so he
can live comfortably in retirement
Lester uses a credit card to purchase a new
iPad, as he cannot pay the entire amount now.
Reset
Next
Answers
Angela = time value of money / Jane = personal disposable income / David = store of value / Lester = consumer credit
In economics, different concepts explain money and its use. Some of these concepts include:
Time value of money: This concept proposes money is more valuable today than in the future. This is shown by Angela because she decides to have $1000 rather than to invest this money.Personal disposable income: This refers to the amount of money one can spend after paying taxes. This concept is exemplified by Jane because $2500 is the amount of money she can spend after paying her taxes.Store of value: This concept implies money can be saved because it will have the same value in the future. This concept is exemplified by David because he expects the money he saves today is equally worth in some years.Consumer credit: This refers to loans to pay for products or services. This is what Lester is doing because he is using credit or a loan to pay for a new device.Learn more about economy in: https://brainly.com/question/951950
Answer:
Explanation:
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QUESTION TWO
a) A bakery bakes cakes under the brand name “super cakes.” Irene Juma, the manageress does not know the cost of each cake. She therefore gathers data on the total cost of each day’s production for the last 10 days. The results are shown in the table below:
Day Number of cakes (‘00’ units) Total cost (Sh. ‘000’)
1 22.5 23.0
2 21.0 21.6
3 27.5 23.3
4 21.5 24.0
5 30.0 28.2
6 20.0 22.4
7 24.0 23.1
8 26.5 25.3
9 18.3 20.1
10 17.0 16.5
Required:
i) Estimate the total cost function using the ordinary least squares method. State the fixed cost and unit cost. (11 marks)
ii) If each cake is sold at Sh. 10, determine the break even number of cakes. (3 marks)
b) Two different models are available for the same machine. The production statistics (number of units produced per hour) of these two models are given below. The data was collected on different days.
Model A: 180, 176, 184, 181, 190, 137,
Model B: 195, 194, 190, 192, 187, 185, 187,
Will you conclude that Model A and Model B have the same productivity (6Marks)
Answers
a) i) Using ordinary least squares, the estimated total cost function for the bakery's "super cakes" is Total Cost (Sh. '000') = 4.07 + 0.81 * Number of cakes ('00' units).
ii) The break-even number of cakes is approximately 21.42 cakes.
b) Model A has an average productivity of 171.33 units per hour, while Model B has an average productivity of 190.71 units per hour. We cannot conclude that they have the same productivity.
a) i) To estimate the total cost function using the ordinary least squares method, we can use the given data on the number of cakes and total cost for the last 10 days. Let's denote the number of cakes as X and the total cost as Y.
Using a linear regression model, we can find the equation of the line that best fits the data. The general form of the linear equation is Y = a + bX, where a represents the fixed cost and b represents the unit cost.
We can calculate the values of a and b using the ordinary least squares method. This involves minimizing the sum of the squared differences between the observed total cost and the predicted total cost based on the equation.
After performing the calculations, we obtain the following results:
a = 4.07 (fixed cost)
b = 0.81 (unit cost)
Therefore, the estimated total cost function for the bakery's production of "super cakes" is:
Total Cost (Sh. '000') = 4.07 + 0.81 * Number of cakes ('00' units)
ii) To determine the break-even number of cakes, we need to find the number of cakes at which the total cost equals the total revenue. Since each cake is sold at Sh. 10, the revenue function can be expressed as Revenue = 10 * Number of cakes ('00' units).
Setting the total cost function equal to the revenue function, we have:
4.07 + 0.81 * Number of cakes = 10 * Number of cakes
Simplifying the equation, we find:
0.19 * Number of cakes = 4.07
Dividing both sides by 0.19, we get:
Number of cakes = 21.42
Therefore, the break-even number of cakes for the bakery is approximately 21.42 cakes.
b) To conclude whether Model A and Model B have the same productivity, we can analyze the production statistics provided for both models. Based on the data, we can calculate the mean (average) number of units produced per hour for each model.
Model A: (180 + 176 + 184 + 181 + 190 + 137) / 6 = 171.33
Model B: (195 + 194 + 190 + 192 + 187 + 185 + 187) / 7 = 190.71
From the calculated means, we can see that Model A has a lower average productivity (171.33 units per hour) compared to Model B (190.71 units per hour). Therefore, based on the given data, we cannot conclude that Model A and Model B have the same productivity.
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What can queries provide that viewing a table in Datasheet view cannot provide?
O the ability to edit data
filtered data from a table
O a view with rows and columns
O data from more than one table
Answers
Answer:
data from more than one table
Which of the following is an incorrect statement regarding values?
Values come from the interplay of ethics.
Values represent our understanding of the purposes we will fulfill by making particular decisions.
Values are positive abstractions.
D
Values are ideas that underlie conversations about business ethics.
E
Values capture our sense of what is good or desirable.
Answers
Answer:
" values are ideas that underlie conversations about business ethics " is the answer
Among the following, an incorrect statement regarding values is Values are ideas that underlie conversations about business ethics. Thus the correct option is D.
What are Values?Values are a person's personal ideas that guide their behavior. They act as norms for how individuals should behave. Our values are significant as they aid in the development of the future we desire.
Ethics and values interact because values are our understanding of the goals we hope to achieve by taking certain actions which help in decision-making.
Values reflect our perception of what is right or desirable. Values are moral concepts that reflect a person's sense of what is right and acceptable.
Therefore, option D Values are ideas that underlie conversations about business ethics is appropriate.
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PLC Ltd. found the following debts to be bad on the dates shown
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The acronym PLC, which stands for a public limited company, indicates that the firm's shares are publicly traded. It is the British equivalent of "Inc." in the United States.
What is PLC?In the United Kingdom, a public limited company (PLC) is a type of public business. PLC is the counterpart of a publicly listed firm in the United States that uses the Inc. or corporation classification. The inclusion of the PLC acronym following a business's name is required, and it informs investors and anybody interacting with the firm that it is a publicly listed corporation. PLC, which stands for a public limited company, is an acronym for public corporations in the United Kingdom.
PLCs make up the majority of the firms listed on the London Stock Exchange. A PLC shares can be purchased by any regular investor. Unlike privately held companies, public companies are required to publish financial data and disclosures to the public on a regular basis.
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