Master Business with Fun Quizzes & Brain Teasers!

Marin Company produces two software products (Cloud-X and Cloud-Y) in two separate departments (A and B). These products are highly regarded network maintenance programs. Cloud-X is used for small networks and Cloud-Y is used for large networks. Marin is known for the quality of its products and its ability to meet dates promised for software upgrades. Department A produces Cloud-X, and department B produces Cloud-Y. The production departments are supported by two support departments, systems design and programming services. The sources and uses of the support department time are summarized as follows:_______. To Total Department Department Labor From Design Programming A B Hours Design - 5,000 1,000 9,000 15,000 Programming 400 - 600 1,000 2,000 The costs in the two service departments are as follows:_______. Design Programming Labor and materials (all variable) $ 50,000 $ 36,000 Depreciation and other fixed costs 40,000 4,000 Total $ 90,000 $ 40,000Required:1. Determine the total support costs allocated to each of the producing departments using (a) the direct method, (b) the step method (design department goes first), and (c) the reciprocal method? (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.)2. The company is considering outsourcing programming services to DDB Services Inc. for $52.00 per hour. Should Marin do this?Note: there's 2 requirements , please make sure you do both with explaination :)
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In the past 20 years the United States has entered into several "free trade agreements." The commonality of these free trade agreement has been making it easier for foreign companies to sell their goods in the United States (imports) and for American companies to sell their goods overseas (exports). In your initial post, summarize the key points of specific trade agreement the United States has entered into in the last 25 years. Be sure to include the other counties involved and what kinds of trade restrictions and/or tariffs were changed as a result of that agreement. Include citations at the end of your post (should be easy to find info on trade agreements on the web). In your response posts please discuss how you think these trade agreements have impacted the United States. Be sure to include in your response something about which Americans benefit form the agreement, which Americans are hurt by the agreement, and the impact the agreement has had on GDP.
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Forest Components makes aircraft parts. The following transactions occurred in July. Purchased $16,950 of materials on account. Issued $16,780 in direct materials to the production department. Issued $1,340 of supplies from the materials inventory. Paid for the materials purchased in transaction (1) using cash. Returned $2,020 of the materials issued to production in (2) to the materials inventory. Direct labor employees earned $32,500, which was paid in cash. Purchased miscellaneous items for the manufacturing plant for $17,250 on account. Recognized depreciation on manufacturing plant of $36,700. Applied manufacturing overhead for the month. Forest uses normal costing. It applies overhead on the basis of direct labor costs using an annual, predetermined rate. At the beginning of the year, management estimated that direct labor costs for the year would be $434,600. Estimated overhead for the year was $412,870. The following balances appeared in the inventory accounts of Forest Components for July. Beginning EndingMaterials Inventory ? $12,490Work-in-Process Inventory ? 10,560Finished Goods Inventory $2.700 6.930Cost of Goods Sold ? 75,1000a. Prepare Journal Entries to record these transactions (1-9)b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold
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The following information is available for Windsor Inc. for the year ended December 31, 2017:_______. Loss on discontinued operations $66,000 Retained earnings January 1, 2017 $1,260,000 Rent revenue 98,000 Selling expenses 876,000 Income tax applicable to continuing operations 297,000 Income tax applicable to loss on discontinued operations 23,000 Administrative expenses 507,000 Cost of goods sold 1,648,000 Loss on write-down of inventory 37,000 Sales revenue 3,775,000 Gain on sale of equipment 31,000 Cash dividends declared 230,000 Unrealized gain on available-for-sale securities 27,000 Interest expense 57,000 200,000 shares were outstanding during all of 2017.
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Rivera Company has several processing departments. Costs charged to the Assembly Department for November 2020 totaled $2,283,744 as follows. Work in process, November 1 Materials $78,600 Conversion costs 48,700 $127,300 Materials added 1,592,280 Labor 225,100 Overhead 339,064 Production records show that 35,200 units were in beginning work in process 30% complete as to conversion costs, 661,000 units were started into production, and 25,400 units were in ending work in process 40% complete as to conversion costs. Materials are entered at the beginning of each process.(a) Determine the equivalent units of production and the unit production costs for the Assembly Department.(Round unit costs to 2 decimal places, e.g. 2.25.) Materials Conversion CostsEquivalent Units Cost per unit $ $(b) Determine the assignment of costs to goods transferred out and in process.(c) Prepare a production cost report for the assembly dept.
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Atlas Enterprises Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows: Activity Activity Rate Fabrication $34 per machine hour Assembly $14 per direct labor hour Setup $46 per setup Inspecting $26 per inspection Production scheduling $14 per production order Purchasing $8 per purchase order The activity-base usage quantities and units produced for each product were as follows: Elliptical Activity Base Machines Treadmills Machine hours 663 415 Direct labor hours 180 78 Setups 21 9 Inspections 119 181 Production orders 16 9 Purchase orders 90 50 Units produced 268 134Required:Use the activity rate and usage information to calculate the total activity cost and activity cost per unit for each product.
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At December 31, DePaul Corporation had the following cumulative temporary differences associated with its operations:_____. 1. Estimated warranty expense, $40 million temporary difference: expense recorded in the year of the sale; tax-deductible when paid (one-year warranty). 2. Depreciation expense, $120 million temporary difference: straight-line in the income statement; MACRS on the tax return. 3. Income from installment sales of properties, $60 million temporary difference: income recorded in the year of the sale; taxable when received equally over the next five years. 4. Rent revenue collected in advance, $40 million temporary difference; taxable in the year collected; recorded as income when the performance obligation is satisfied in the following year.Required: Assuming DePaul will show a single noncurrent net amount in its December 31 balance sheet, indicate that amount and whether it is a net deferred tax asset or liability. The tax rate is 25%. (Enter your answer In millions (I.e., 10,000,000 should be entered as 10).) _______ million
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Christiansen Corporation uses an activity-based costing system with the following three activity cost pools: Activity Cost Pool Total Activity Fabrication 70,000 machine-hours Order Processing 500 orders Other Not applicable The Other activity cost pool is used to accumulate costs of idle capacity and organization-sustaining costs. The company has provided the following data concerning its costs: Wages and Salaries $420,000 Depreciation 160,000 Occupancy 200,000 Total $780,000 The distribution of resource consumption across activity cost pools is given below: Activity Cost Pools Fabrication Order Processing Other Total Wages and Salaries 60% 20% 20% 100% Depreciation 5% 60% 35% 100% Occupancy 25% 50% 25% 100% The activity rate for the Order Processing activity cost pool is closest to:_______. A. $312 per order B. $676 per order C. $780 per order D. $560 per order
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You are an administrator working for the Maine Department of Environmental Protection, a state administrative agency. You are tasked with implementing a new and controversial pollution control rule. The media will be watching closely to ensure all required procedures are followed. Local citizens are requesting that the rule be implemented immediately and without a hearing because, they argue, the need for controls are so acute. A California environmental group is requesting that you consider the impacts of the rule on their state. A manufacturing lobbyist has asked you to decrease relevant pollution standards in the rule by 90%, even though you have significant evidence that current pollution levels are dangerously high. Assuming that Maine administrative law, including the Administrative Procedure Act, is substantially the same as federal law discussed in this chapter, evaluate your responses to these requests in light of rules you need to follow. You want to avoid having your rule held unlawful and set aside by a court.
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Gilbert is considering purchasing the Side Steamer 3000, a higher-end steamer, which costs $12,000, and has an estimated useful life of 6 years with an estimated salvage value of $1,200. This steamer falls into the MACRS 5-years class, so the applicable depreciation rates are 20.00%, 32.00%, 19.20%, 11.52%, 11.52%, and 5.76%. The new steamer is faster and would allow for an output expansion, so sales would rise by $2,000 per year; even so, the new machine's much greater efficiency would reduce operating expenses by $1,400 per year. To support the greater sales, the new machine would require that inventories increase by $2,900, but accounts payable would simultaneously increase by $700. Gilbert's marginal federal-plus-state tax rate is 40%, and its WACC is 12%. a. Should it replace the old steamer?b. NPV of replace = $2,083.51 SHOW WORK HOW TO GET THIS ANSWER
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Consider the following information for stocks A, B, and C. The returns on the three stocks are positively correlated, but they are not perfectly correlated. (That is, each of the correlation coefficients is between 0 and 1.) Stock Expected Return Standard Deviation Beta A 8.50% 16% 0.8 B 9.50 16 1.2 C 10.50 16 1.6 Fund P has one-third of its funds invested in each of the three stocks. The risk-free rate is 6.5%, and the market is in equilibrium. (That is, required returns equal expected returns.)Required:a. What is the market risk premium?b. What is the beta of Fund P?c. What is the required return of Fund P?d. Would you expect the standard deviation of Fund P to be less than 15%, equal to 15% or greater than 15%? Explain.
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On December 31, 2019, Main Inc. borrowed $3,000,000 at 12% payable annually to finance the construction of a new building. In 2020, the company made the following expenditures related to this building: March 1, $360,000; June 1, $600,000; July 1, $1,500,000; December 1, $1,500,000. The building was completed in February 2021. Additional information is provided as follows. 1. Other debt outstanding 10.year, 13% bond, December 31, 2013, interest payable annually $4,000,000 6-year, 10% note, dated December 31, 2017, interest payable annually $1,600,000 2. March 1, 2020, expenditure included land costs of $150,000 3. Interest revenue earned in 2020 $49,000 Instructions:Determine the amount of interest to be capitalized in 2020 in relation to the construction of the building.The amount of interest$SHOW LIST OF ACCOUNTSPrepare the journal entry to record the capitalization of interest and the recognition of interest expense, if any, at December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)Date Account Titles and Explanation Debit CreditDecember 31, 2020
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Megan, a human resource manager, recently approved the hiring of five summer interns. She will use ________ to decide which departments would benefit from the interns employment. As production manager, part of Jennifers job is to determine what raw materials will be needed to meet production needs. Sales forecasts may help Jennifer with this ______ function of management. Wesleys company just began offering online ordering for their products. Wesley uses _______ to delegate tasks to each department that is affected. Choose the management function being performed in each of the examples. Example of managerial work Planning Organizing Leading Controlling A construction project manager from Iron Horse Construction uses a team of experts to design the development of a new property on the top of a very steep ridge. The team includes geotechnical consultants, erosion control specialists, and contractors. Jessica Lee, director of global employer brand and communications at Marriott International, realizes the mobile app created by a vendor does not integrate with the company's existing software. George Steinbrenner transferred his passion for winning to everyone in the New York Yankees organization. His famous quote is, "Winning is the most important thing in my life, after breathing. Breathing first, winning next." Taco Bell CEO, Brian Niccol, considers what the technical and logistical needs would be in order to offer delivery to customers.
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Recall the texts definition of diminishing marginal utility: "the common pattern that each marginal unit of a good consumed provides less of an addition to utility than the previous unit." The reason for this behavior is because of biology. Our body sends our brains a signal once too much of a good or service has been consumed. This prevents a person from literally eating until they explode. In your own experience, share two times instances where the law of diminishing marginal utility applied to you. Can you think of any time when the law of diminishing marginal utility failed for someone? Please answer in 150 words or more. Use your own words - please do not copy and paste from a web site. Be sure to reference your sources.
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One-pound baby carrots, $0.99Two pounds baby carrots, $1.89One-pound full-sized carrots, $0.68What is the price per pound for each
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An apparel company has introduced three different varieties of shoes at different price points. a company that produces shampoos have now introduced dishwashing liquids in the market. a shoe company sells its floaters at a price that does not even cover its production cost. a chocolate company introduces its new range of chocolates at a discounted price for limited stock only. loss leadership arrowRight promotional pricing arrowRight product line pricing arrowRight brand extension
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____________________ was a major reason why the United States changed more towards a mixed market economy.Question 8 options:The Great DepressionThe Civil WarThe American RevolutionThe 9/11 Attacks
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You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is $ 2 comma 356 and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 7.500 % (APR). How much do you owe on the mortgage today? (Note: Be careful not to round any intermediate steps less than six decimal places.)
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You are in the process of purchasing a new automobile that will cost you $27,500. The dealership is offering you either a $2500 rebate (applied toward the purchase price) or 1.9% financing for 48 months (with payments made at the end of the month). You have been preminus approved for an auto loan through your local credit union at an interest rate of 6.5% for 48 months. If you forgo the $2500 rebate and finance your new car through the dealership your monthly payments (with payments made at the end of the month) will be closest to: A. $573 B. $520 C. $595 D. $799
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Match the items.The task is to match the lettered items with the correct numbered items. Appearing below is a list of lettered items. Following that is a list of numbered items. Each numbered item is followed by a drop-down. Select the letter in the drop down that best matches the numbered item with the lettered alternatives.a. Showrooming: pricing in one store & while still there using mobile to purchase onlineb. Marketplace Fairness Act of 2013-- specifies how online retailers collect sales taxc. Best Buy introduced price matching even for online offers to promote instore purchased. E-commerce, up 13% year, while mobile commerce is growing at twice that ratee. Vendor Flex places Amazon employees at suppliers warehouses to lower shipping costsf. 80% of new phone purchases are smartphones allowing online shoppingg. Amazon spent $14B building warehouse bigger & closer to customers1. Immediate Environment: COMPANY2. Immediate Environment: COMPETITOR3. Immediate Environment: COLLABORATORS4. Macro Environment: Political/Regulatory/Legal5. Macro Environment: Economic6. Macro Environment: Social/cultural7. Macro Environment: Technological
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Cost-Volume-Profit Analysis CVP exercises The Deli-Sub Shop owns and operates six stores in and around Minneapolis. You are given the following corporate budget data for next year: Revenues $11,000,000 Fixed costs $3,000,000 Variable costs $7,500,000 Variable costs change based on the number of subs sold. Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. Cell references and formulas should be based on the original data. If you copy/paste from the Instructions tab you will be marked wrong. Requirements Compute the budgeted operating income for each of the following deviations from the original budget data. (Consider each case independently.) a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted. b. Refer to the budgeted operating income based on the original budget data in all calculations. 1 Determine the budgeted operating income based on the original budget data. 2 A 10% increase in contribution margin, holding revenues constant 3 A 10% decrease in contribution margin, holding revenues constant 4 A 5% increase in fixed costs 5 A 5% decrease in fixed costs 6 A 5% increase in units sold 7 A 5% decrease in units sold 8 A 10% increase in fixed costs and a 10% increase in units sold 9 A 5% increase in fixed costs and a 5% decrease in variable costs 10 Which of these alternatives yields the highest budgeted operating income?
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a. Sold merchandise for cash (cost of merchandise $20,797). $ 35,200 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $240 ). 400 c. Sold merchandise (costing $3,800 ) to a customer on account with terms n/60. 8,000 d. Collected half of the balance owed by the customer in (c). 4,000 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 128 Hair World is considering a contract to sell merchandise to a hair salon chain for $13,000. This merchandise will cost Hair World $9,040. What would be the increase (or decrease) to Hair Worlds gross profit and gross profit percentage?
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You received a great money-saving credit card offer in the mail complete with a rewards program. You read on further to find that the one dollar for every mile spent may not be such a great offer after all since getting a $500.00 airline ticket only happens after you acquire 25,000 miles or spend $25,000. This is a ________ schedule.a) variable-intervalCorrect Responseb) fixed-ratioc) fixed-intervald) variable-ratio
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Materials and manufacturing labor variances, standard costsDunn, Inc., is a privately held furniture manufacturer. For August 2014, Dunn had the following standards for one of its products, a wicker chair:The following data were compiled regarding actual performance: actual output units (chairs) produced, 2,000; square yards of input purchased and used, 3,700; price per square yard, $5.10; direct manufacturing labor costs, $8,820; actual hours of input, 900; labor price per hour, $9.80.Required:1. Show computations of price and efficiency variances for direct materials and direct manufacturing labor. Give a plausible explanation of why each variance occurred.2. Suppose 6,000 square yards of materials were purchased (at $5.10 per square yard), even though only 3,700 square yards were used. Suppose further that variances are identified at their most timely control point; accordingly, direct materials price variances are isolated and traced at the time of purchase to the purchasing department rather than to the production department. Compute the price and efficiency variances under this approach.
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