Verer Custom Carpentry manufactures chairs in its Processing Department. Direct materials are included at the inception of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Inspection takes place as units are placed into production. After inspection, some units are spoiled due to nondetectible material defects. Spoiled units generally constitute 4% of the good units. Data provided for March 20X5 are as follows:

WIP, beginning inventory 3/1/20X5 32,000 units
Direct materials (100% complete)
Conversion costs (85% complete)

Started during March 70,000 units
Completed and transferred out 80,000 units
WIP, ending inventory 3/31/20X5 18,000 units
Direct materials (100% complete)
Conversion costs (80% complete)

Costs:
WIP, beginning inventory:
Direct materials $70,000
Conversion costs 40,000
Direct materials added 105,000
Conversion costs added 128,160

Required:
What are the normal and abnormal spoilage units, respectively, for March when using FIFO?

Answers

Answer 1

Answer:

Verer Custom Carpentry

Processing Department

Normal spoilage units = 3,920

Abnormal spoilage units = 80

Explanation:

a) Data for March 20X5 and Calculations:

WIP, beginning inventory 3/1/20X5 32,000 units

Direct materials (100% complete)

Conversion costs (85% complete)

Started during March 70,000 units

Completed and transferred out 80,000 units

WIP, ending inventory 3/31/20X5 18,000 units

Direct materials (100% complete)

Conversion costs (80% complete)

Costs:

WIP, beginning inventory:

Direct materials $70,000

Conversion costs 40,000

Direct materials added 105,000

Conversion costs added 128,160

Spoilage units:

                                                    Units   Direct materials    Conversion

Beginning inventory 3/1/20X5 32,000            0 (0%)           6,400 (20%)

Started during March               70,000

Total units available               102,000

Completed and transferred    80,000          

Ending inventory 3/31/20X5    18,000

Spoilage units =                         4,000 (102,000 - 80,000 - 18,000)

Good units = 98,000 (80,000 + 18,000)

Normal spoilage units = 3,920 (98,000 * 4%)

Abnormal spoilage units = 80 (4,000 - 3,920)


Related Questions

Pistol Corporation purchased 100 percent ownership of Scope Products on January 1, 20X6, for $56,000, at which time Scope Products reported retained earnings of $10,000 and capital stock outstanding of $30,000. The differential was attributable to patents with a life of eight years. Income and dividends of Scope Products were

Answers

Answer:

1.20X6

1a. Dr Investment in Scope Products $56,000

Cr Cash $56,000

1b. Dr Cash $ 6,000

Cr Investment in Scope Products $ 6,000

1c. Dr Investment in Scope Products $16,000

Cr Income from Scope Products $16,000

1d. Dr Income from Scope Products $2,000

Cr Investment in Scope Products $2,000

20X7

2a. Dr Cash $8,000

Cr Investment in Scope Products $8,000

2b. Dr Investment in Scope Products $24,000

Cr Income from Scope Products $24,000

2c. Dr Income from Scope Products $2,000

Cr Investment in Scope Products $2,000

20X8

3a. Dr Cash $8,000

Cr Investment in Scope Products $8,000

3b. Dr Investment in Scope Products 32,000

Cr Income from Scope Products 32,000

3c. Dr Income from Scope Products $2,000

Cr Investment in Scope Products $2,000

2.$98,000

Explanation:

1. Preparation of the equity method entries that Pistol should record to account for this investment in 20X6, 20X7, and 20X8.

Equity Method Journal Entries for Pistol Corporation.

20X6

1a. Dr Investment in Scope Products $56,000

Cr Cash $56,000

1b. Dr Cash $ 6,000

Cr Investment in Scope Products $ 6,000

1c. Dr Investment in Scope Products $16,000

Cr Income from Scope Products $16,000

1d. Dr Income from Scope Products $2,000

Cr Investment in Scope Products $2,000

{ ($56,000-$10,000-$30,000) /8 years }

20X7

2a. Dr Cash $8,000

Cr Investment in Scope Products $8,000

2b. Dr Investment in Scope Products $24,000

Cr Income from Scope Products $24,000

2c. Dr Income from Scope Products $2,000

Cr Investment in Scope Products $2,000

{ ($56,000-$10,000-$30,000) /8 years }

20X8

3a. Dr Cash $8,000

Cr Investment in Scope Products $8,000

3b. Dr Investment in Scope Products 32,000

Cr Income from Scope Products 32,000

3c. Dr Income from Scope Products $2,000

Cr Investment in Scope Products $2,000

{ ($56,000-$10,000-$30,000) /8 years }

2. Calculation to determine the Balance in Investment in Scope Products.

Particulars Amount ($)

Initial Investment Amount $56,000

Add : Share of Income $72,000

($16,000+$24,000+$32,000)

Less : Dividend Received ($22,000)

($6,000+$8,000+$8,000)

Less : Patent Amortization ($6,000)

($2,000 * 3 years)

Balance in Investment in Scope Products Account as on Dec. 31 20X8 $98,000

Therefore the balance of the Investment in Scope account on Pistol balance sheet at December 31, 20X8, after all required equity method entries have been recorded is $98,000

Equipment acquired on January 8 at a cost of $168,000 has an estimated useful life of 18 years,
has an estimated residual value of $15,000, and is depreciated by the straight-line method.
A. What was the book value of the equipment at December 31 the end of the fourth year?
B. Assuming that the equipment was sold on April 1 of the fifth year for $125,000, journalize
the entries to record (1) depreciation for the three months until the sale date, and (2) the
sale of the equipment.

Answers

Answer:

A. $134,000

B1. Dr Depreciation expense $2,125

Cr Accumulated depreciation- equipment $2,125

B2. Dr Cash $125,000

Dr Loss on sale of equipment $6,875

Dr Accumulated depreciation- equipment $36,125

Cr Equipment $168,000

Explanation:

A. Calculation to determine What was the book value of the equipment at December 31 the end of the fourth year

First step is to calculate the Annual depreciation using this formula

Annual depreciation = (Cost of machinery-Residual value)/ useful life

Let plug in the formula

Annual depreciation= (168,000-15,000)/18

Annual depreciation= $8,500

Second step is to calculate the Accumulated depreciation for 4 years using this formula

Accumulated depreciation for 4 years = Annual depreciation x 4

Let plug in the formula

Accumulated depreciation for 4 years= 8,500 x 4

Accumulated depreciation for 4 years= $34,000

Now let determine the Book value of equipment at December 31 at the end of year

Using this formula

Book value of equipment at December 31 at the end of year 4 = Cost of equipment - Accumulated depreciation for 4 years

Let plug in the formula

Book value of equipment at December 31 at the end of year = 168,000-34,000

Book value of equipment at December 31 at the end of year = $134,000

Therefore the book value of the equipment at December 31 the end of the fourth year is $134,000

B1. Preparation of the journal entries to record (1) depreciation for the three months until the sale date

Year 5, April 1

Dr Depreciation expense $2,125

Cr Accumulated depreciation- equipment $2,125

( To record depreciation expense)

Calculation for Depreciation for 3 months of year 5 using this formula

Depreciation for 3 months of year 5 = Annual depreciation x 3/12

Let plug in the formula

Depreciation for 3 months of year 5 == 8,500 x 3/12

Depreciation for 3 months of year 5 = $2,125

B2.Preparation of the journal entries to record (2) the sale of the equipment.

Year 5, April 1

Dr Cash $125,000

Dr Loss on sale of equipment $6,875

Dr Accumulated depreciation- equipment $36,125

Cr Equipment $168,000

( To record sale of the equipment)

Calculation for Accumulated depreciation at April 1, year 5 using this formula

Accumulated depreciation at April 1, year 5 = Accumulated depreciation for 4 years + Depreciation for 3 months of year 5

Let plug in the formula

Accumulated depreciation at April 1, year 5= 34,000+2,125

Accumulated depreciation at April 1, year 5= $36,125

Calculation for Book value of equipment at April 1, year 5 using this formula

Book value of equipment at April 1, year 5 = Cost of equipment - Accumulated depreciation at April 1, year 5

Let plug in the formula

Book value of equipment at April 1, year 5 = $168,000-$36,125

Book value of equipment at April 1, year 5 = $131,875

Calculation for Loss on sale of equipment using this formula

Loss on sale of equipment = Book value - Sale of equipment

Let plug in the formula

Loss on sale of equipment=$ 131,875-$125,000

Loss on sale of equipment= $6,875

.

When writing goals, it is helpful to remember the acronym SMART. Different people associate different words with each of the letters in the SMART acronym, but for the purposes of this problem, SMART means that effective goals are:

1. Specific. A good goal defines exactly what you expect to accomplish. When your goals are specific, the behaviors required to accomplish them are clear. Many people say that they want to recycle to save the environment, but a better goal would be "Place every used bottle or can in a recycling container within five minutes of finishing its contents."

2. Measurable. You can measure the outcomes of a good goal. When you measure how much of a goal you have attained, you get feedback on your work. For example, compare the goal "I want to be skinny" with "I want to lose 10 pounds by the end of the month." How can you measure skinny? But by measuring the pounds you have lost so far, you know exactly how close you are to meeting your goal.

3. Attainable. Good goals are hard to reach, but not impossible. If a goal is too easy, you will not have to work hard to attain it, and your overall performance will not improve. If a goal is too hard, you will be discouraged from attempting to reach it. One way of making sure that goals are attainable is to break larger, difficult goals into smaller, more easily accomplished subgoals.

4. Result-oriented. A good goal contains only one outcome or accomplishment. If you combine two or more outcomes in one goal, it will be difficult to decide where to focus your attention. For example, "To increase produce sales by 3% and to achieve a 5% market share" is a less effective goal than "To increase produce sales by 3%."

5. Time-bound. Good goals specify precisely when you will meet them. Doing so provides you with a deadline for your actions. For example, it is easy to say "I want to be a millionaire." but you are more likely to accomplish that goal if you say "I will have a million dollars in a bank account by January 1, 2020."

Using your knowledge of SMART goals, select the best goal. After the new product is released, I will hire some new salespeople.

a. I will hire three new salespeople prior to our next product release.
b. I will hire three new salespeople soon.
c. I will hire some salespeople to help with the new product release.

Answers

Answer:

a. I will hire three new salespeople prior to our next product release.

Explanation:

Smart goals are specific, measurable, attainable, result oriented and time bound. When a new product is released, new sales person will help boost sales of the product. The sales person will inform customers about the new product features and specifications. The customers will be able to choose the product based on their preference.

Feedback is a form of:
a. advertising.
b. complaining.
c. resolving concerns.
d. coaching.

Answers

Answer:

C. resolving concerns

hope this helps

have a good day :)

Explanation:

Two alternatives for a construction project are being considered. Both projects have a 5-year life. Alternative A's initial cost is $2,260 and yields $355 annually for 5 years. Alternative B initially costs $5500 and yields $1,250 annually for 5 years. The rate of return on the difference between the alternatives is approximately

Answers

Answer:

The rate of return on the difference between the alternatives is approximately 38.12%.

Explanation:

Alternative A's initial cost = $2,260

Alternative A's total yields for 5 years = $355 * 5 = $1,775

Alternative B's initial cost = $5,500

Alternative B's total yields for 5 years = $1,250 * 5 = $6,250

Difference between initial costs of A and B = Alternative B's initial cost - Alternative B's initial cost = $5,500 - $2,260 = $3,240

Difference between total yields for 5 years of A and B = Alternative B's total yields for 5 years - Alternative A's total yields for 5 years = $6,250 - $1,775 = $4,475

Rate of return on the difference between the alternatives = (Difference between total yields for 5 years of A and B - Difference between initial costs of A and B) / Difference between initial costs of A and B = ($4,475 - $3,240) / $3,240 = 0.3812, or 38.12%

Therefore, the rate of return on the difference between the alternatives is approximately 38.12%.

Which set of items appears on the loan estimate

Answers

Need more information for me to answer
Answer: interest rate, estimated monthly payment, estimated cash to close.

I hope this helped

Given the following historical demand, what is the weighted moving average forecast (0.4, 0.3, 0.3) for Week 6?
Week 1 = 3000
Week 2 = 5000
Week 3 = 7000
Week 4 = 9000
Week 5 = 11000
Week 6 = Predict using the weighted moving average forecast (0.4, 0.3, 0.3)
Last Period Forecast: F = D
t+1 t
where Ft+1 = forecast for the next period, t+1 and Dt = demand for the current period, t
Moving Average Weighted Moving Average
Forecast Forecast
Ft+1 = nΣ i=1 Dt+1-i/n Ft+1 = nΣ i=1 Wt+1-i Dt+1-i
where Ft+1 = forecast for the next period, t+1 and Dt = actual demand for the period, t +1-i and n = number of most recent demand observations used in the forecast and Wt+1-i = weight assigned to the demand in period, t +1-i.
A. 7000.
B. 9200.
C. 9000.
D. 13000.
E. 8800.

Answers

Answer:

The correct option is B. 9200.

Explanation:

This can simply be answered as follows:

[tex]F_{6} =(D_{5}*W_{5})+(D_{4}*W_{4})+(D_{3}*W_{3})[/tex] .................. (1)

Where:

[tex]F_{6}[/tex] = Weighted moving average forecast (0.4, 0.3, 0.3) for Week 6 = ?

[tex]D_{5}[/tex] = Week 5 demand = 11,000

[tex]D_{4}[/tex] = Week 4 demand = 9,000

[tex]D_{3}[/tex] = Week 3 demand = 7,000

The (0.4, 0.3, 0.3) implies that:

[tex]W_{5}[/tex]  = Weight of Week 5 demand = 0.4

[tex]W_{4}[/tex]  = Weight of Week 4 demand = 0.3

[tex]W_{3}[/tex]  = Weight of Week 3 demand = 0.3

Substituting all the relevant values into equation (1), we have:

[tex]F_{6}[/tex] = (11,000 * 0.40) + (9,000 * 0.30) + (7,000 * 0.30) = 9,200

Therefore, the correct option is B. 9200.

The weighted moving average forecast for week 6 is 9,200.

The calculation for determining the weighted moving average forecast for week 6 is

= (Week 5 × 0.4) + (Week 4 × 0.3) + (Week 3 × 0.3)

= (11000 × 0.4) + (9000 × 0.3) + (7000 × 0.3)

= 9200

Therefore we can conclude that the weighted moving average forecast for week 6 is 9,200.

Learn more about the forecast here: brainly.com/question/13949807

If an asset costs $16,000, has an expected useful life of 8 years, is expected to have a $2,000 salvage value and generates net annual cash inflows of $2,000 a year, the cash payback period is:________

Answers

Answer:

It will take 7.5 years to cover the initial investment. If the company take into account the tax shield of the depreciation expense, the payback period will be lower.

Explanation:

Giving the following information:

Initial investment= $16,000

Useful life= 8 years

Salvage value= $2,000

Cash inflows= $2,000

The payback period is the time required to cover the initial investment.

Year 1= 2,000 - 16,000= -14,000

Year 2= 2,000 - 14,000= -12,000

Year 3= 2,000 - 12,000= -10,000

Year 4= 2,000 - 10,000= -8,000

Year 5= 2,000 - 8,000= -6,000

Year 6= 2,000 - 8,000= -4,000

Year 7= 2,000 - 4,000= -2,000

Year 8= 4,000 - 2,000= 2,000 (Assuming the asset is sold for its salvage value)

To be more accurate:

(2,000/4,000)= 0.5

It will take 7.5 years to cover the initial investment. If the company take into account the tax shield of the depreciation expense, the payback period will be lower.

8. Why is the failure of a large bank more detrimental to the economy than the failure of a large steel manufacturer?

Answers

Answer:

Following are the responses to the given question:

Explanation:

Banks are just an integral aspect of an economy's flow of money. When a big steel factory fails, jobs and GDP will be lost, yet financing inside the economy would not be available because of the main banking collapse in decrease its availability of credit throughout the industry, a large bank is unable to do even more damage to the economy than a huge metal fabricator.

Assume the following data for Cable Corporation and Multi-Media Inc.
Cable Corporation Multi-Media Inc.
Net income $31,200 $140,000
Sales 317,000 2,700,000
Total assets 402,000 965,000
Total debt 163,000 542,000
Stockholders'
equity 239,000 423,000
a1. Compute return on stockholders’ equity for both firms.
a-2. Which firm has the higher return?
A. Multi-Media Inc.
B. Cable Corporation
b. Compute the following additional ratios for both firms.

Answers

Answer:

a-1 Cable Corporation 13.05

Multi-media Inc. 33.1%

a-2 Multi-Media Inc.

2. Cable Corporation Multi-Media Inc.

Net income/Sales 9.84% 5.19%

Net income/Total assets 7.76% 14.51%

Sales/Total assets .79 times 2.80 times

Debt/Total assets 40.55% 56.17%

Explanation:

a-1. Computation to determine the return on stockholders’ equity for both firms.

CABLE CORPORATION

Using this formula

Return on Stockholders’ Equity= Net Income / Stockholder’s equity

Let plug in the formula

Return on Stockholders’ Equity=$31,200 / 239,000

Return on Stockholders’ Equity= 0.1305*100

Return on Stockholders’ Equity=13.05%

MULTI-MEDIA INC.

Return on Stockholders’ Equity=$140,000 / 423,000

Return on Stockholders’ Equity= 33.1%

a-2. Based on the above calculation the firm that has the higher return is MULTI-MEDIA INC.

b. Computation for the following additional ratios for both firms.

Cable Corporation Multi-Media Inc.

Net income/Sales 9.84% 5.19%

($31,200/317,000=9.84%)

($140,000/2,700,000=5.19%)

Net income/Total assets 7.76% 14.51%

($31,200/402,000=7.76%)

($140,000/965,000=14.51%)

Sales/Total assets .79 times 2.80 times

(317,000/402,000=.79 times

(2,700,000/965,000=2.80 times)

Debt/Total assets 40.55% 56.17%

(163,000/402,000=40.55%)

( 542,000/965,000=56.17%)

In 2016, David Hay started his own business, Hays Gardening and Landscapes. David was previously an employer of another business/
a) What was the opportunity costs for David when he started his business?

A. Cost of marketing to attract customers.

B. Loss of earnings from employment

C. Payment of taxes on profits

D. Risk of business failure

ANSWER:

b) Explain why this answer is correct?

Answers

Answer: B. Loss of earnings from employment

Explanation:

The opportunity cost of choosing a course of action is the returns that you would have earned from choosing the next best action.

David was employed and yet decided to quit that job and start a business. The next best thing he could have been doing was working which means that the opportunity cost was the returns from working which was his salary.

In deciding to open up his own businesses, he had to forego the opportunity costs which meant that he lost the earnings from that his employment.

Rolling Coast Inc. issued BBB bonds two years ago. These bonds provided a yield to maturity (YTM) of 11.5 percent. Long-term risk-free government bonds were yielding 8.7 percent at the time. The current risk premium on BBB bonds versus government bonds is half of what it was two years ago. If the risk-free long-term government bonds are currently yielding 7.8 percent, then at what interest rate should Rolling Coast expect to issue new bonds

Answers

Answer: 9.2%

Explanation:

The interest rate that Rolling Coast should expect to issue new bonds will be calculated thus:

Firstly, we will calculate the previous risk premium on BBB bonds which will be:

= 11.5% - 8.7% = 2.8%

Then, the new risk premium on BBB bonds will be:

= Previous risk premium / 2

= 2.8% / 2

= 1.4%

Then, the interest rate that Rolling Coast should expect to issue new bonds will be:

= 7.8% + 1.4%

= 9.2%

Bono was kicked out of the band U2 for failing to attend rehearsals on time and constantly cutting the strings of Adam Clayton bass guitar. For the purposes of this question Bono was an employee of U2 which is an American company. Bono applies for unemployment insurance. Provided that he is actively attending auditions to display his willingness and ability to seek future employment he will receive state administered unemployment benefits.
A. True
B. False

Answers

Answer:

B

Explanation:

He was fired for constantly missing rehearsals which is a duty of his role as an employee of U2

He was fired for constantly missing rehearsals which is a duty of his role as an employee of U2. As the Bono is fired because of his continuous mistakes, and he is not liable to get the unemployment insurance.

What is unemployment insurance?

Unemployment insurance benefits are offered by the U.S. Federal Government to enrollees who become jobless absolutely no fault of their own and fulfill some other rules.

Unemployment insurance is a state-federal program that pays financial compensation to workers who are unemployed.

Thus, option B is correct.

For more details about unemployment insurance, click here:

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Balmforth Products, Inc. makes and sells a single product called a Bik. It takes three yards of Material A to make one Bik. Budgeted production of Biks for the next five months is as follows: The company wants to maintain monthly ending inventories of Material A equal to 20% of the following month's production needs. On January 31, this target had not been attained since only 2,000 yards of Material A were on hand. The cost of Material A is $0.80 per yard. The company wants to prepare a Direct Materials Purchases Budget. The total needs (i.e., production requirements plus desired ending inventory) of Material A for the month of May are:

Answers

Answer:

46,500 yards

Explanation:

Calculation to determine the Total needs of Material A for the month of May

Using this formula

Total needs =Production requirement+Desired ending Inventory

Let plug in the formula

Total needs=12,600*3+($14,500*20%*3)

Total needs=37,800+8,700

Total needs=46,500 yards

Therefore the Total needs of Material A for the month of May is 46,500 yards.

The amount of the estimated average income for a proposed investment of $60,000 in a fixed asset, giving effect to depreciation (straight-line method), with a useful life of four years, no residual value, and an expected total income yield of $21,600, is: Group of answer choices $10,800 $21,600 $ 5,400 $30,000

Answers

Answer:

$5,400

Explanation:

Calculation to determine the estimated average income

Using this formula

Estimated average income=Expected total income yield/Useful life

Let plug in the formula

Estimated average income= $21,600 ÷ 4

Estimated average income= $5,400

Therefore the estimated average income is $5,400

Which of the following is NOT normally regarded as being a barrier to hostile takeovers? a. Targeted share repurchases. b. Shareholder rights provisions. c. Poison pills. d. Restricted voting rights. e. Abnormally high executive compensation.

Answers

Answer:e

Explanation:

Outsourcing to provide extra workers during periods of peak workloads can be much more economical than trying to fill entire projects with internal resources. Which advantages does this characteristic of outsourcing provide organizations?
A) offers control over all aspects of projects that suppliers carry out
B) provides flexibility
C) shifts accountability from external suppliers to internal staff
D) helps avoid any form of dependency on suppliers

Answers

Answer:

B

Explanation:

how to calculate current ratios

Answers

Answer:

Current ratios = [tex]\frac{Current Assets}{Current Liabilities}[/tex]

Bunkhouse Electronics is a recently incorporated firm that makes electronic entertainment systems. Its earnings and dividends have been growing at a rate of 36.0%, and the current dividend yield is 8.00%. Its beta is 1.32, the market risk premium is 14.00%, and the risk-free rate is 2.80%.

Required:
a. Use the CAPM to estimate the firm’s cost of equity. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
b. Now use the constant growth model to estimate the cost of equity. (Do not round intermediate calculations. Enter your answer as a whole percent.)
c. Which of the two estimates is more reasonable?

Answers

Answer:

a. Calculation of the firm's cost of equity using CAPM

Required rate of return (Cost of equity) = Risk free rate + Beta*Market risk premium

Cost of equity = 2.80% + 1.32*14%

Cost of equity = 2.80% + 18.38%

Cost of equity = 21.28%

b) Calculation of the cost of equity using constant growth model:

Cost of equity = Dividend yield + Growth rate(Capital gain yield)

Cost of equity = 8.00% + 36.00%

Cost of equity = 44.00%

Tutor, Inc. (TI) provides instructional services to its customers. TI charges $330 per student. The Company expects to serve 1,150 students during the coming year. All of the Company's expenses are fixed. Total annual fixed cost are projected to be $125,000. If the estimated number of students increase by 20%, net income will increase by: (Round your final answer to the nearest percent.)

Answers

Answer:

Net income will increase by 30%.

Explanation:

Projected total fixed cost = $125,000

Fee per student = $330

Percentage increase in the old number of students = 20%

Old number of students = 1,150

New number of students = Old number of students * (100% + Percentage increase in the old number of students) = 1,150 * (100% + 20%) = 1,380

Old revenue = Fee per student * Old number of students = $330 * 1,150 = $379,500

New revenue = Fee per student * New number of students = $330 * 1,380 = $455,400

Old net income = Old revenue - Projected total fixed cost = $379,500 - $125,000 = $254,500

New net income = New revenue - Projected total fixed cost = $455,400 - $125,000 = $330,400

Therefore, we have:

Percentage increase in net income = ((New net income – Old net income) / Old net income) * 100 = (($330,400 - $254,500) / $254,500) * 100 = 30%

Therefore, net income will increase by 30%.

The prepaid insurance account had a beginning balance of $7,560 and was debited for $810 for premiums paid during the year.

Required:
Journalize the adjusting entry required at the end of the year.

Answers

Answer: See explanation

Explanation:

Debit Insurance Expenses = $8370

Credit Prepaid insurance = $8370

(To record insurance expense for the current year)

Note that:

Opening prepaid Insurance = $7560

Add: Insurance premium = $810

Insurance expense = $8370

A short-term financial decision based on an MNC management's expectation that the local foreign currency will appreciate may be

Answers

Answer:

increasing local accounts receivable and decreasing local accounts payable

Explanation:

In simple words, accounts receivables refers to the amount that the company will receive from its debtors and accounts payable is the amount that the company will pay to its creditors. Thus, if the local currency appreciates , the company will receive a higher amount but will be obligated to pay a lower amount.

Ana is training for a triathlon, a timed race that combines swimming, biking, and running. While Ana usually practices swimming for two hours per day, she decides to continue for an additional hour because the pool is less crowded than usual today allowing her practice time to be more productive. Which basic principle of individual choice does Valerie's plan illustrate that her husband's advice does not?
a. Resources are scarce.
b. All decisions involve opportunity costs.
c. Decisions are made at the margin.
d. People usually exploit opportunities to make themselves better off.

Answers

Answer:

c. Decisions are made at the margin.

Explanation:

It is better to make a trade-off when someone compares the costs with that of  the benefits of doing something. The [tex]\text{decisions about whether one must do a bit more or a bit less of an activity}[/tex] are called marginal decisions. Making the [tex]\text{trade-offs at the margin}[/tex] means comparing its costs as well as its benefits of an activity by doing it a little bit more versus doing a little bit less.

In the context, Ana is making decision at the margin when she decides to practice one hour extra and improve her swimming performance as the event of triathlon is approaching.

Thus, option (d) is correct.

How dose the very small businesses finance

Answers

Answer:

Small Business Administration offers lenders, mostly traditional banks, a federal guarantee on your loan

To determine why a company is more profitable than others in the same industry, a strategist should use: A. A VRIO Analysis B. A PESTLE Analysis C. A SWOT analysis D. A Porter's Five Forces analysis

Answers

Answer:

The answer is D

Explanation:

Option D is correct. Porter's five forces analysis is used to determine the intensity of competition in an industry.

This intensity determines how profitable firms in the industry will be.

The five forces are:

1. Bargaining power of consumers

2. Bargaining power of producers.

3. Threat of new entrants - this is the new competition coming into the industry

4. Threat of substitute goods.

5. Competitive rivalry.

Your broker suggests that the stock of DUH is a good purchase at $25. You do an analysis of the firm, determining that the recent $1.40 dividend and earnings should continue to grow indefinitely at 5 percent annually. The firm's beta coefficient is 1.3, and the yield on Treasury bills is 1.4 percent. If you expect the market to earn a return of 8 percent, what is your valuation of DUH

Answers

Answer:

The correct answer is "$28.03".

Explanation:

The given values are:

Good purchase,

= $25

Dividend,

= $1.40

Annually earning,

= 5%

Beta coefficient,

= 1.3

Treasury bills,

= 1.4%

Now,

= [tex]1.4+1.34\times 8-1.4[/tex]

= [tex]1.34\times 8[/tex]

= [tex]10.244[/tex] (%)

hence,

The fair value will be:

= [tex]1.4\times \frac{1.05}{.10244}-.05[/tex]

= [tex]28.03[/tex]

Absolutely, the proposal including its brokerage must be adopted because as fair market value was almost $25.

Which of the following is NOT an accurate statement about business processes in the context of implementing supply chain management?
A. Logistics are one of front-end practices that drive entire business practices.
B. Front-end business processes refer to the practices related to customers-product development-suppliers.
C. Key aspects of strategic management include leadership and (organizational) cultures.
D. Infrastructure support includes IT, knowledge/innovation management)
E. Complex performance measures are related to customers and supply chain management

Answers

Answer:

B. Front-end business processes refer to the practices related to customers-product development-suppliers.

Explanation:

The above given statement is NOT an accurate statement about business processes in the context of implementing supply chain management.

Assume that Guardian Company uses a periodic inventory system and has these account balances: Purchases $500,000; Purchase Returns and Allowances $14,000; Purchase Discounts $9,000; and Freight-in $15,000. Determine net purchases and cost of goods purchased.

Answers

Answer:

Net purchases:

= Purchases - Purchase Returns and Allowances - Purchase Discount

= 500,000 - 14,000 - 9,000

= $477,000

Cost of goods sold:

= Net purchase + Freight-in

= 477,000 + 15,000

= $492,000

What is the importance of desert in a meal?

Answers

Answer:

To enhance human satisfaction after taking a meal and makes up for low blood sugar

Explanation:

The importance of desserts in a meal cannot be overstated. One of which is "to enhance human satisfaction after taking a meal and makes up for low blood sugar."

This is simply because desserts are sweet courses usually taken at the end of a meal. They have a high quantity of sugar. Also, sugar or sugary foods have been confirmed to enhance people's mood as it is believed it elevates happiness hormones.

Consumer protection is NOT a modern idea, McKay states. Which ancient legal document talked about this concept?

Answers

Answer:

Hammurabi's Code

Explanation:

Hammurabi's Code was a Babylonian legal document that was written between 1755 - 1750 BC.

Its main focus is fairness in regards to the rule of law. Responsibilities were allocated to different parties in a legal relationship so a producer will be deterred from engaging in unfair practices when dealing with a consumer.

Hammurabi's Code is an old document that still remains relevant to modern legal practitioners.

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