World Company expects to operate at 80% of its productive capacity of 67,500 units per month. At this planned level, the company expects to use 32,400 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.600 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $68,040 fixed overhead cost and $408,240 variable overhead cost. In the current month, the company incurred $472,000 actual overhead and 29,400 actual labor hours while producing 51,000 units.
Required:
a. Compute the overhead volume variance.
b. Compute the overhead controllable variance.
Answers
Answer:
1. $3,780 Unfavorable
2. $453,600 Overhead controllable variance
Explanation:
Req. 1
Fixed Overhead Applied
Fixed OH per DL hr. ($68,040 ÷ $32,400) = 2.1
Standard DL hours = 0.60 * $51,000 = $30,600
Fixed OH applied = 2.1 * $30,600 = $64,260
Volume variance.
Total fixed OH applied $64,260
Total budgeted fixed OH $68,040
Fixed OH volume variance $3,780 Unfavorable
Req. 2
Overhead controllable variance.
Total actual overhead $ 472,000
Flexible budget overhead
Variable = $408,240 ÷ $32,400 = 12.6
=> $30,600 * 12.6 = $385,560
Fixed. $68,040
Total $453,600 Overhead controllable variance
Related Questions
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $320,000 for November, $300,000 for December, and $290,000 for January. Collections are expected to be 55% in the month of sale and 45% in the month following the sale. The cost of goods sold is 70% of sales. The company would like to maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $23,800. Monthly depreciation is $14,800. Ignore taxes. Balance Sheet October 31 Assets Cash $ 21,400 Accounts receivable 71,400 Merchandise inventory 156,800 Property, plant and equipment, net of $573,400 accumulated depreciation 1,095,400 Total assets $ 1,345,000 Liabilities and Stockholders' Equity Accounts payable $ 255,400 Common stock 821,400 Retained earnings 268,200 Total liabilities and stockholders' equity $ 1,345,000 The difference between cash receipts and cash disbursements for December would be:
Answers
Answer:
Bramble Corporation
The difference between cash receipts and cash disbursements for December would be:
= $71,000
Explanation:
a) Data and Calculations:
Balance Sheet October 31
Assets Cash $ 21,400
Accounts receivable 71,400
Merchandise inventory 156,800
Property, plant and equipment,
net of $573,400 accumulated
depreciation 1,095,400
Total assets $ 1,345,000
Liabilities and Stockholders' Equity
Accounts payable $ 255,400
Common stock 821,400
Retained earnings 268,200
Total liabilities and
stockholders' equity $ 1,345,000
November December January
Budgeted sales $320,000 $300,000 $290,000
Cash Collections:
55% month of sale 176,000 165,000 159,500
45% following month 71,400 144,000 135,000
Total collections $247,400 $309,000 $294,500
Cost of goods sold $224,000 $210,000 $203,000
= (70% of Sales for the month)
Ending Inventory 147,000 142,100
Goods available $371,000 $352,000
Beginning Inventory 156,800 147,000 142,100
Purchases $214,200 $205,000
Cash disbursements:
Payment to suppliers 255,400 214,200 205,000
Other monthly exp. 23,800 23,800
Total disbursements $279,200 $238,000
Comparison of Cash receipts with Cash disbursements:
November December
Cash receipts $247,400 $309,000
Cash disbursements $279,200 $238,000
Difference ($31,800) $71,000
In 2024, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2026. Information related to the contract is as follows:
2024 2025 2026
Cost incurred during the year $ 2,100,000 $ 2,450,000 $ 2,695,000
Estimated costs to complete as of year-end 4,900,000 2,450,000 0
Billings during the year 2,200,000 2,350,000 5,450,000
Cash collections during the year 1,900,000 2,300,000 5,800,000
Westgate recognizes revenue over time according to percentage of completion.
1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.
Answers
To calculate revenue and gross profit (loss) to be recognized in each year, we first need to calculate the total cost of the project and the percentage of completion for each year.
What revenue and gross profit (loss) to be recognized in each of the three years. ?We can calculate the total cost of the project as the sum of costs incurred to date and estimated costs to complete:
Total cost of project = Costs incurred to date + Estimated costs to complete
Using the given information, we can calculate the total cost of the project for each year:
2024: $2,100,000 + $4,900,000 = $7,000,000
2025: $2,450,000 + $2,450,000 = $4,900,000
2026: $2,695,000 + $0 = $2,695,000
We can then calculate the percentage of completion for each year as follows:
Percentage of completion = Costs incurred to date / Total cost of project
Using the total cost of the project for each year, we can calculate the percentage of completion for each year:
2024: $2,100,000 / $7,000,000 = 30%
2025: ($2,100,000 + $2,450,000) / $7,000,000 = 65%
2026: ($2,100,000 + $2,450,000 + $2,695,000) / $7,000,000 = 100%
Now we can use the percentage of completion to calculate the revenue and gross profit (loss) to be recognized in each year:
2024:
Revenue = Percentage of completion * Total contract revenue = 30% * $10,000,000 = $3,000,000
Cost of goods sold = Percentage of completion * Total cost of project = 30% * $7,000,000 = $2,100,000
Gross profit (loss) = Revenue - Cost of goods sold = $3,000,000 - $2,100,000 = $900,000 profit
2025:
Revenue = Percentage of completion * Total contract revenue = 65% * $10,000,000 = $6,500,000
Cost of goods sold = Percentage of completion * Total cost of project = 65% * $7,000,000 = $4,550,000
Gross profit (loss) = Revenue - Cost of goods sold = $6,500,000 - $4,550,000 = $1,950,000 profit
2026:
Revenue = Percentage of completion * Total contract revenue = 100% * $10,000,000 = $10,000,000
Cost of goods sold = Percentage of completion * Total cost of project = 100% * $7,000,000 = $7,000,000
Gross profit (loss) = Revenue - Cost of goods sold = $10,000,000 - $7,000,000 = $3,000,000 profit
Therefore, the amount of revenue and gross profit (loss) to be recognized in each of the three years are as follows:
Year Revenue Cost of Goods Sold Gross Profit (Loss)
2024 $3,000,000 $2,100,000 $900,000
2025 $6,500,000 $4,550,000 $1,950,000
2026 $10,000,000 $7,000,000 $3,
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An income statement under absorption costing includes which of the following: ______________
a. Direct materials
b. Direct labor
c. Variable overhead
d. Fixed overhead
Answers
Answer:
a. Direct materials
b. Direct labor
c. Variable overhead
d. Fixed overhead
Explanation:
The absorption costing is the costing in which the income statement should includes all types of production cost i.e. direct material cost, direct labor cost, variable overhead and the fixed overhead
So as per the given statement, all the four types of costing should be involved while preparing the income statement under the absorption costing
Hence, all 4 options should be considered
Which of the following are examples of variable
costs? (Select three answers.)
A radio ad
Hourly employees
The yarn used to make a scarf
Rent of an office space
The shampoo used to groom pets
Internet service
Answers
Answer:
Explanation:
Hourly employees
The shampoo used to groom pets
The yarn used to make a scarf
Which of the following is not one of the consequences a hotel can face for not enforcing rate parity?
legal action
financial penalty
reduction of search ranking
removal from the website
Answers
Answer:
I think it would be removal from the website
Explanation:
^^^
Joey has opened a restaurant. He paid a large amount of money up front to get the business started. He only sells products that are licensed by someone else. What type of business opportunity is Joey a part of?
Question 9 options:
1: Franchise
2: Dealership
3: Licensing
4: Network marketing
Answers
Answer:
Franchise
Explanation:
The answer is FRANCHISE
Which of the following might be a duty of a noninstructional aide?
A. Grade homework
B. Teach calligraphy
C. Tutor a child
D. Accompany a child to and from the lavatory
Answers
Tutor a child might be a duty of a non instructional aide. The Non-Instructional Aide supports the administration and instructors duty in maintaining a secure and disciplined learning environment and enforcing school rules.
Respects non instructional information about children, employees, and other administrative issues impacting the district with absolute secrecy. helps the teacher prepare and be ready for each day's activities; duty supports the teacher's efforts in the classroom. helps the teacher create lesson plans, curriculum, and lesson outlines in the designated topics. A person who assists a teacher in a classroom but is not a certified teacher is known as a teacher's aide.
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You are at the checkout counter at the local supermarket, use your debit card to pay for your groceries, and select "debit" when the cashier asks "Debit or credit?" Where does the money for this purchase come from?
Answers
Answer:
the Money comes from my savings account (Bank account)
Explanation:
the debit means that the money that we use is ours.
the credit means that the money is lent to us by the bank which we have gotten the card from. Choosing debit means that the money being spent comes from our own bank account.
Write a 1-page memo to the CEO. Include each chart (3) and a paragraph per chart. Each paragraph should explain the story of each visualization and explain why visualizations are important.
STEP 2
Income CATEGORIES PERCENTAGE NUMBER
$100,000 to $124,999 8% 2
$125,000 to $149,999 4% 1
$20,000 to $24,999 4% 1
$25,000 to $34,999 29% 7
$35,000 to $49,999 13% 3
$50,000 to $74,999 17% 4
$75,000 to $99,999 21% 5
Decline to answer 4% 1
24
STEP 3
GENDER PERCENTAGE NUMBER
Female 54% 13
Male 46% 11
24
STEP 4
QUESTION RESPONSES PERCENTAGE NUMBER
0 6% 1
2 11% 2
5 28% 5
6 11% 2
7 17% 3
8 11% 2
9 6% 1
10 11% 2
18
Answers
Answer:
[Your Name]
[Your Position]
[Date]
Subject: Insights from our Survey - A Window into the Lives of our Valued Customers
Dear [CEO's Name],
I hope this message finds you well. I wanted to take a moment to share some fascinating insights from the recent survey we conducted among our cherished customer base. To make the data more relatable and easier to grasp, I have transformed the findings into a series of engaging visualizations. These visuals not only bring the data to life but also allow us to truly connect with our customers on a human level. Let's dive into the story behind each visualization and explore why these visual representations are crucial in understanding our customers.
Chart 1: Income Categories - Reflecting the Lives of our Customers
This insightful chart provides a glimpse into the diverse income categories of our survey respondents. As you observe the bars rise and fall, you can visualize the financial landscapes our customers navigate. From the bustling middle-income group, representing 29% of respondents, to the resilient individuals in the $75,000 to $99,999 range, accounting for 21% of participants, we gain an intimate understanding of the financial tapestry that influences their decisions.
By presenting this information in such a humanized manner, we can empathize with the varying needs and aspirations of our customers. This visualization guides us in tailoring our products and services to better address the unique challenges and aspirations of each income segment.
Chart 2: Gender Distribution - Celebrating Diversity and Inclusion
This delightful pie chart celebrates the diversity among our survey participants by highlighting their gender identities. As you glance at the vibrant slices, you witness the vibrant mosaic of our customer base. With 54% of respondents identifying as female and 46% as male, we recognize the importance of inclusivity and strive to ensure our products and services cater to the needs and desires of all genders.
Visualizations like this one allow us to see the human faces behind the data. It reminds us to embrace diversity and equality in our business operations, ensuring that every customer feels heard and valued.
Chart 3: Question Responses - Unveiling Our Customers' Voices
Within this insightful bar chart, we uncover the authentic voices of our customers through their responses to a specific question. The bars rise and fall, revealing the choices they made and their preferences. The most popular response, "5," chosen by 28% of participants, demonstrates the collective sentiment that echoes among our customers. As we observe the varying heights of each bar, we gain a deeper understanding of their thoughts and desires.
Visualizations like this empower us to hear our customers' voices loud and clear. By listening attentively to their responses, we can make informed decisions that resonate with their needs, aspirations, and desires.
In summary, these captivating visualizations humanize our survey data, enabling us to truly connect with our customers and gain invaluable insights. By considering the stories behind each chart, we ensure that our strategies, products, and services align with their lived experiences. Together, we can build lasting relationships, foster inclusivity, and deliver the exceptional experiences our customers deserve.
Thank you for your time and attention. Should you have any questions or require further information, please don't hesitate to reach out.
Warm regards,
[Your Name]
[Your Position]
Explanation:
You are a manager of a soft drinks company that is planning to go head to head with Coca-Cola to increase market share. Your strategy is to increase your product ranges that you plan to offer to Mass Market. Along with the extension of the products and product lines, you want to be responsive to the different geographic regions you plan to serve. So, your main focus is to balance the extended product categories along with the responsiveness to the geographic regions to serve. Currently you have a functional structure which may not be suitable for maintaining Products along with Geographic Responsiveness. So, you are required to IDENTIFY which Organizational Structure (For Example: PRODUCT BASED DIVISION, REGION BASED DEVISIONS, MATRIX STRUCTURE, etc.) would be best suitable if your strategy intends to: a. Lowering cost b. Increasing responsiveness c. or both
Answers
Answer:
Explanation:
Organizational structure is what is best for
1. lowering cost:
what would be most suitable here is the product based division structure. this is because the main goal is the launching of new product lines and also getting ranges that are in existence to be bigger. the divisions are smaller here, which is given to each single product line which may have their own R&D and response divisions. Efficiency is increased, product development cycle is reduced and so also is cost lowered.
2. increasing responsiveness:
what is best here is region/geographic based structure. this is as divisions that are smaller are given to distinct areas. this increases region specificness as well as the fact that it takes care of any grievances. the team here have good knowledge of the needs of the specific region and their socio cultural background.
3. both
the matrix structure is best when their is a goal to lower cost and at the same time increase responsiveness. the divisions are of two dimensions, primary and secondary. this therefore increases sharing of resources and also cost reduction. it uses both if these goals to enhance efficiency.
How long has Alice Spring Tow Truck been in operation, and what services do they offer?
Answers
Based on historical facts and the company's information, the Alice Spring Tow Truck has been in operation for more than 35 years, and they offer services like equipment relocation, freight transport, and vehicle recovery services.
What is Alice Spring Tow Truck?Alice Spring Tow Truck is an Australian transport and logistics company.
The company offers various logistics services around Australia and it is located in Central Australia for over 20 years.
Alice Spring Tow Truck is known to have been in operation for varying services such as:
relocation of heavy equipment freight transport vehicle recovery services. Towing of vehicle, etc.Also, Alice Spring Tow Truck operated majorly in places like
YularaTennant CreekMarlaUluruOther regions in Central AustraliaHence, in this case, it is concluded that Alice Spring Tow Truck is a logistics servicing company.
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Suppose a less developed country is having difficulty making payments on its foreign debts. What option does this nation have?
Targ
It can ask its lenders for more loans in exchange for accepting a foreign portfolio investment from the World Bank.
It can ask its lenders to forego the payments until the economy of the debtor nation is stronger.
It can ask its lenders to forgive the loans in exchange for accepting temporary control by the lender nation.
It can ask its lenders for debt rescheduling in exchange for accepting a stabilization program from the IMF.
Answers
Answer:
it can ask its lenders for dept resceduling in exchange for accepting a stabilization program from the IMF
Explanation:
gradpoint
under a homeowner, which of the following is NOT covered by personal injury coverage?
Answers
There are several major risks that a standard homeowner policy does not cover.
Earthquake insuranceFlood insuranceHomeowner insurance and landslidesHomeowner insurance and moldWhat is insurance?Insurance is a means of protecting against financial loss where one party undertakes, for a fee, to compensate another party in the event of a specified loss, damage or injury. It is a form of risk management primarily used to cover risks of contingent or uncertain loss.
The following are some of the types of general insurance available in India:
health insurance. Motor insurance. Home insurance. Fire insurance. Travel Insurance.Insurance is a financial safety net that helps you and your loved ones recover from an accident, such as a fire, theft, lawsuit, or car accident. When you buy insurance, you get a policy, which is a legal contract between you and your insurance company.
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Given a function described as the equation y=4x-4, what is y when x is 1, 2, and 3
Answers
Answer:
x=1 y=0, x=2 y=4, x=3 y=8
Explanation:
substitute all the numbers in the x area and multiply then subtract 4
What is one way investment consultants protect their clients’ money during periodic performance reviews?
Answers
Answer:
Investment consultants check that the portfolio manager's performance was based on skill investing in the agreed-upon stocks or sectors
Explanation:
because it is
In a bid to ensure that money is adequately channeled and client's finances are safe, investment consultant analyses the stocks and portfolio's in other to ensure they are based on the advise offered and agreed upon.
The investment consultant offers expert advise on profitable stocks and portfolio's which could be invested in. The portfolio manager handles and monitors client's investment and finances. Hence, the investment consultant and portfolio manager work hand in hand in other to ensure that the right stock is chosen and invested in.Therefore, investment consultant ensures that portfolio managers do not deviate from the agreement made.
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Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales $ 25,000 Variable expenses 17,500 Contribution margin 7,500 Fixed expenses 4,200 Net operating income $ 3,300 7. If the variable cost per unit increases by $1, spending on advertising increases by $1,150, and unit sales increase by 130 units, what would be the net operating income
Answers
Answer:
See
Explanation:
Selling price = $25,000/1,000 = $25
Variable cost = $17,500/1,000 = $17.5
1,001 units
Contribution margin income statement
Sales ($25,000 + $25)
$25,025
Less variable expenses
which of the following is an example of electronic banking?
A. issuing stocks to raise capital
B. using ERMA to process customers checks
C. using a digital machine to
print money
D. exchanging two different currencies at an exchange office
Answers
Good luck hope this helps
:))
Mary, a college student, needs to borrow $8,000 today for her tuition. She agrees to pay back the loan in a lump-sum payment upon graduating, 4 years from today. The lender agrees to lending at a fixed 3.85% interest rate during the loan period. What is the total cost of Mary's student loan?
Answers
Answer:
$ 9,304.99
Explanation:
The applicable formula is
A = P x (1 + r)^n
where A is the amount after 4 years
P is principal amount $8000
r is interest rate = 3.85% or 0.0385
n = number of periods: 4
A = $8000 x ( 1 + 0.0385) ^4
A = $8000 x (1.0385)^4
A = $8000 x 1.163123
A =$9,304.99
3. There is lots of oil in the world. Would the price of oil increase or decrease in price? Why
Answers
What is the definition of gross income?
Answers
Gross income refers to the total income earned by an individual, business, or entity before any deductions or expenses are subtracted.
Gross income is typically calculated on an annual basis, representing the total income earned over a specific period, usually a fiscal year. It serves as a starting point for determining taxable income, which is the amount on which taxes are assessed.
It is important to note that gross income does not account for any deductions or expenses, such as taxes, operating costs, depreciation, or other business expenses. These deductions are subtracted from the gross income to arrive at the net income or taxable income, which is the actual amount on which taxes are levied.
For individuals, gross income includes wages or salaries earned from employment, income from self-employment or freelancing, rental income, investment income, and other sources. It is reported on the individual's tax return and is used to determine their tax liability.
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3. Following are the particulars available for Z and X, LLP
retained earnings
accounts receivable
supplies
salaries payable
equipment
unearned revenue
accounts payable
cash
prepaid insurance
common stock
a. Calculate the amount of -
• total assets
●
● total liabilities excluding stockholder equity
total stockholders' equity
668
240
500
- 167
1000
475
200
1170
100
1500
(5 Marks)
Answers
The total assets are $3,010, total liabilities excluding stockholder equity are $508, and total stockholders' equity is $2,168.
What is Assets?
Assets are economic resources that are owned or controlled by an individual, a company, or an organization. Assets can take many forms, including cash, investments, property, equipment, inventory, and accounts receivable, among others.
Using the given information, we can calculate the total assets, total liabilities excluding stockholder equity, and total stockholders' equity as follows:
Total assets = accounts receivable + supplies + equipment + cash + prepaid insurance
= 240 + 500 + 1000 + 1170 + 100
= 3,010
Total liabilities excluding stockholder equity = accounts payable + salaries payable + unearned revenue
= 200 + (-167) + 475
= 508
Total stockholders' equity = retained earnings + common stock
= 668 + 1500
= 2,168
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1. What marketing concepts do players learn while enjoying a game of Monopoly?
2). What value does Monopoly create for its customers?
Please help! Thxs!
Answers
Some of the marketing concepts that players learn while enjoying a game of Monopoly are:
Product positioningBrandingMarket segmentationAdvertisingWhat are some marketing concepts players enjoying in a game of Monopoly?
Product positioning: Players must decide how to position their properties in order to attract the most visitors and generate the most revenue. This mirrors the concept of product positioning in marketing, where companies must decide how to position their products to appeal to their target market.
Branding: Players can create a brand image for their properties by choosing specific colors and names, which can help to differentiate their properties from others and make them more desirable to potential visitors. This is similar to the concept of branding in marketing, where companies create a brand image to differentiate their products from competitors and make them more appealing to consumers.
Advertising: Players can use advertising to promote their properties and attract visitors. This is similar to the concept of advertising in marketing, where companies use various forms of advertising to promote their products and increase awareness.
Market segmentation: Players can decide to focus on specific segments of the market, such as the luxury market or the budget market, in order to generate the most revenue. This is similar to the concept of market segmentation in marketing, where companies divide the market into specific segments and target specific groups of consumers with tailored products and marketing strategies.
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During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $3,500 from Diamond Incorporated with terms 3/10, n/30. June 5 Returned goods costing $700 to Diamond Incorporated for credit on account. June 6 Purchased goods from Club Corporation for $1,150 with terms 3/10, n/30. June 11 Paid the balance owed to Diamond Incorporated. June 22 Paid Club Corporation in full. Required: Assume that Ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the month. Calculate the cost of inventory as of June 30. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Answers
Ace Incorporated's Cost of Inventory on June 30 is $3,950.
Data and Calculations:
June 3 Inventory $3,500 Accounts Payable (Diamond Incorporated) $3,500
terms 3/10, n/30
June 5 Accounts Payable (Diamond Incorporated) $700 Inventory $700
June 6 Inventory $1,150 Accounts Payable (Club Corporation) $1,150
terms 3/10, n/30
June 11 Accounts Payable (Diamond Incorporated) $2,800 Cash $2,716 Cash Discounts $84
June 22 Accounts Payable (Club Corporation) $1,150 Cash $1,150
Summary of the Cost of Inventory:
June 3 Inventory $3,500
June 5 Returns -700
June 6 Inventory $1,150
Cost of inventory $3,950
Thus, the Cost of Ace Incorporated's Inventory on June 30 is $3,950.
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In an attempt to bring about a change in the organization, what do you think might happen to The Learning Focus if Nemeroff fired all the existing writers and replaced them with new writers
Answers
Answer:
If all existing writers are replaced with new writers there could be a number of issues as the existing writers had experience and were use to of the type of writing required, they understand the nature of the reader. The new writers might fail to satisfy the old readers as they will be unaware of the taste the readers want and like to read. If learning focus Nemeroff fired all the existing writers the above described issues may appear.
Explanation:
If all existing writers are replaced with new writers there could be a number of issues as the existing writers had experience and were use to of the type of writing required, they understand the nature of the reader. The new writers might fail to satisfy the old readers as they will be unaware of the taste the readers want and like to read. If learning focus Nemeroff fired all the existing writers the above described issues may appear.
Allied Merchandisers was organized on May 1. Macy Company is a major customer (buyer) of Allied (seller) products. May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $10 cash per unit (for a total cost of $20,000). May 5 Allied sold 1,500 of the units in inventory for $14 per unit (invoice total: $21,000) to Macy Company under credit terms 2/10, n/60. The goods cost Allied $15,000. May 7 Macy returns 125 units because they did not fit the customer’s needs (invoice amount: $1,750). Allied restores the units, which cost $1,250, to its inventory. May 8 Macy discovers that 200 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $300 to compensate for the damage. May 15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount. Prepare the appropriate journal entries for Macy Company to record each of the May transactions. Macy is a retailer that uses the gross method and a perpetual inventory system; it purchases these units for resale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answers
78,250 will be the total of the journal entry that will be made of the Allied Merchandisers.
What is a journal entry?All budget management is documented in journal entries. Any trading performance that has an effect on the firm is a purchase, in the broadest sense.
3 May
Merchandise inventory $20,000
Cash $20,000
5 May
Accounts receivable – Macy Co. 21,000
Sales revenue 21,000
Cost of goods sold 15,000
Merchandise inventory 15,000
7 May
Sales return and allowance 1,750
Accounts receivable1,750
Merchandise inventory 1,250
Cost of goods sold 1,250
8 May
Sales return and allowance 300
Accounts receivable 300
15 May
Cash 18,571
Discount allowed 379
Accounts receivable 18,950
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The question is incomplete, Complete question is:
Allied Merchandisers was organized on May 1. Macy Co. is a major customer (buyer) of Allied (seller) products. Prepare journal entries to record the following transactions for Allied assuming it uses a perpetual inventory system and the gross method. (Allied estimates returns using an adjusting entry at each year-end.)
May 3 Allied made its first and only purchase of inventory for the period on May 3 for 2,000 units at a price of $10 cash per unit (for a total cost of $20,000).
5 Allied sold 1,500 of the units in inventory for $14 per unit (invoice total: $21,000) to Macy Co. under credit terms 2∕10, n∕60. The goods cost Allied $15,000.
7 Macy returns 125 units because they did not fit the customer’s needs (invoice amount: $1,750). Allied restores the units, which cost $1,250, to its inventory.
8 Macy discovers that 200 units are scuffed but are still of use and, therefore, keeps the units. Allied sends Macy a credit memorandum for $300 toward the original invoice amount to compensate for the damage.
15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount.
According to the video, which tasks do Urban and Regional Planners perform? Check all that apply.
developing recommendations to improve medical care
promoting the best use of land and resources
developing plans for growth and renewal
promoting campaigns for political elections
reviewing applications for government assistance
Nvm its b and c
Answers
Answer:
Wat
Explanation:
Answer:
b & c (did the assignment on edg) ;)
Explanation:
The following table shows the cost function for a business producing beach chairs:
Quantity of
Beach Chairs Produced (Number) Total Cost (Dollars Marginal Cost (Dollars)
0 5
1 15
2 26
3 38
4 51
5 65
a) Fill in the column for marginal cost. Instructions: Round your answers to the nearest whole number. If you are entering a negative number, include a negative sign (−) where appropriate.
b) If the market price is $11 per chair, the business will produce how many chairs? What is the total profit of the business at that price?
c) If the market price is $12 per chair, the business will produce how many chairs? What is the total profit of the business at that price? .
Answers
The marginal cost will be:
Beach Chairs Produced (Number) Total Cost
(Dollars) Marginal Cost (Dollars)
0 5 -
1 15 10
2 26 11
3 38 12
4 51 13
5 65 14
How to calculate the values2. At the market price of $11 per chair, the total quantity of 2 chairs will be produced by the producers.
At this price the Total cost of producing 2 Chairs is = $26
Whereas the Total revenue generated is = (p*q) $11 *2=22.
Total profit= TR- TC
Total profit= 22-26=-4( profits are falling as TC >TR)
3. Total profit at price $12 is :- -2(losses)
At the market price of $12 per chair, the total quantity of 3 chairs will be produced by the producers.
At this price the Total cost of producing 2 Chairs is = $38
Whereas the Total revenue generated is = (p*q) $12*3=36.
Total profit= TR- TC
Total profit= 38-36=-2(loss)
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Please answer the question posted in the image below:
Answers
$720000 was the cost of goods that will be used after calculating the cost of goods through LIFO.
What is LIFO?The inventory method which is used to calculate the level of goods for the cost of goods sold assessment is LIFO (Last-In, First-Out). Contrary to LIFO appraisal, which assumes the earliest inventory units are sold first, LIFO asset value assumes the last products in the stockpile are marketed first.
The Value will be for 750 goods calculated from the last date of the purchase
= 20 * 1000 + 300*1000 + 200 * 900 + 50 * 800
= 200000 + 300000 + 180000 + 400000
= $720000
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Help ASAP
Applying the conept of "Thinking at Margin" which of the following statements are relevant for a TV manufacturer to make a decision:
the average revenue of a television is $114.55
the average cost of 10 televisions is $100 each, while the 11th one requires the hiring of an extra truck for deliveries at $50
the total cost of a television is $1104.55
the average cost of a television is $104.55
Answers
Applying the concept of "Thinking at Margin", the relevant statement for a TV manufacturer to make a decision is: the average cost of 10 televisions is $100 each. Option C. This is further explained below.
What is Thinking at Margin?Generally, It implies giving some thought to the next move you will take. "extra" is the meaning of the term "marginal." On a hot day, the first glass of lemonade you drink satisfies your thirst, but the subsequent glasses may not have the same effect.
When you ponder at the margin, you are contemplating what the next or subsequent action will entail for you personally.
In conclusion, Using the "Thinking at Margin" methodology, the important statements for a television maker to consider while making a choice are as follows: the typical cost of producing 10 TVs is $100 apiece. Alternative C
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Assess various supply chain requirements for production oriented supply chain
Answers
Some of the requirements for the supply chain are raw materials, labor, transportation.
Assess various supply chain requirements for production oriented supply chain
A production-oriented supply chain requires a number of specific components to operate effectively. These requirements include:
Raw materials: The production process starts with the acquisition of raw materials, which are the inputs for the manufacturing process.
Manufacturing facilities: A production-oriented supply chain requires access to well-equipped manufacturing facilities with the necessary equipment, technology and skilled labor.
Transportation: A reliable transportation system is crucial for the timely and efficient delivery of raw materials and finished products.
Inventory management: Effective inventory management is essential to ensure that raw materials and finished goods are available when needed and that there are no unnecessary stockouts or surpluses.
Quality control: Quality control measures are necessary to ensure that the finished products meet the required standards and specifications.
Distribution channels: A well-established distribution network is necessary to reach the target market and deliver the finished products to customers.
Customer service: A responsive and reliable customer service system is essential to handle inquiries, complaints, and returns.
Information technology: An advanced information technology system is necessary to track and monitor the various components of the supply chain, such as inventory levels, production schedules, and delivery times.
In conclusion, a production-oriented supply chain requires careful planning and management to ensure that all the components work together efficiently and effectively.
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