Which employee in the Business, Management, and Administration career cluster would most likely work in a cubicle?

Receptionist
Mail Clerk
Sales Representative
Accountant

Answers

Answer 1
An accountant would most likely work in a cubicle
Answer 2

c sales representative


Related Questions

Direct materials $10 Direct labor $6 Variable manufacturing overhead $4 Fixed manufacturing overhead per year $220,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold $6 Fixed selling and administrative expense per year $61,000 Year 1 Year 2 Units in beginning inventory 0 1,000 Units produced during the year 11,000 10,000 Units sold during the year 10,000 7,000 Units in ending inventory 1,000 4,000 The net operating income (loss) under variable costing in Year 1 is closest to:

Answers

Answer:

Results are below.

Explanation:

I will assume a selling price per unit of $60.

First, we need to calculate the total unitary variable cost:

Total unitary variable cost= direct material + direct labor + varaiboe overhead + variable selling and administrative expense

Total unitary variable cost= 10 + 6 + 4 + 6

Total unitary variable cost= $26

Now, we can structure the income statement:

Sales= 10,000*60= 600,000

Total variable cost= 10,000*26= ( 260,000)

Contribution margin= 340,000

Fixed manufacturing overhead per year= (220,000)

Fixed selling and administrative expense per year= (61,000)

Net operating income= 59,000

Canliss Mining Company borrowed money from a local bank. The note the company signed requires five annual installment payments of $11,000 beginning one year from today. The interest rate on the note is 6%.(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What amount did Canliss borrow

Answers

Answer:

$46,336

Explanation:

The amount Canliss borrowed can be determined by calculating the present value of the instalment payments

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow each year from year 1 to 5 = $11,000

I = 6%

PV = $46,336

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

economics is the study of a society's financial institutions. true or false​

Answers

Answer:

False

Explanation:

Economics is the study of a society's financial institutions. This statement is False.

What is Economics?

Economics is a social science that examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, governments, and nations make when allocating resources.

While macroeconomics focuses on the behavior of the economy as a whole on an aggregate level, microeconomics focuses on the decisions made by individuals and enterprises.

Hesiod, a Greek farmer, and poet who lived in the eighth century B.C. is one of the oldest economists known to have written about the necessity for efficient allocation of labor, resources, and time to combat scarcity. The first modern Western economic ideas emerged with the publication of Adam Smith's book An Inquiry Into the Nature and Causes of the Wealth of Nations in 1776.

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Categorize each of the following items as an S-strength, W-weakness, O-opportunity, or T-threat. " WALMART SWOT ANALYSIS"
Established Name Brand
Low Prices-Low Cost Leadership
Unfair Employment Practices
Pressures Suppliers on Cost
Recession
Other big box retailers-Target
Small Towns
International Markets
Products Made in China
Product Safety
Large Purchases –Buy in Bulk
Internet Retailing
Customer Base
No Urban Locations
Health Care for Employees
Global Presence
Price Competition
Product Quality
Customer service
Distribution/Logistics System
One Stop Shop
In 15 Countries—not in Europe except for United Kingdom
Sam’s Club
Minimum Wage Laws
Rising Labor Costs in China
Healthcare Costs
12% Lower Grocery Prices
Litigation by employees
Target Superior Merchandising Capability
Community Resistance
Home Delivery of Goods
Growth of Aldi Food Chain-Europe/North America
Poor Working Conditions
Dollar stores
Online Retailers

Answers

Answer:

Established Name Brand - S - Brings in more customers

Low Prices(Low Cost Leadership ) - S - Retaining customers

Unfair Employment Practices - T - Negatively affects the brand image

Pressures Suppliers on Cost - S - Have bargaining power on suppliers

Recession - T - Can bring down customer spending

Other big box retailers(Target) - T - Competition

Small Towns - O - Not many players

International Markets - O  - Growth prospects

Products Made in China - O - Lower prices

Product Safety - S - Retaining customers

Large Purchases (Buy in Bulk) - S - Cost savings

Internet Retailing - O - New growth opportunity

Customer Base - S - Large customer base

No Urban Locations - O - Opportunity to expand

Health Care for Employees - S - Employee satisfaction

Global Presence - S - Large customer base

Price Competition - O - Best in industry

Product Quality  - Retaining customers

Customer service- S - Retaining customers

Distribution/Logistics System - S - Lower costs

One Stop Shop  - S - Retaining customers

In 15 Countries—not in Europe except for United Kingdom  - Opportunity to grow in Europe

Sam’s Club - O - Customer loyalty

Minimum Wage Laws - T - Higher costs

Rising Labor Costs in China - T - Higher costs

Healthcare Costs - T - Higher costs

12% Lower Grocery Prices - S - Cost leadership

Litigation by employees - T - Negatively affects the brand image

Target Superior Merchandising Capability - O - Competition

Community Resistance - T - Negatively affects the brand image

Home Delivery of Goods - O - Growth prospects

Growth of Aldi Food Chain-Europe/North America - T - Competition

Poor Working Conditions - T - Negatively affects the brand image

Dollar stores - T - Competition

Online Retailers  - T - Competition

After changes to the copyright law in 1978, for how long is intellectual property protected?
A.
the lifetime of the artist plus 70 years
B.
100 years
C.
for the lifetime of the artist
D.
in perpetuity

Answers

I believe the answer is C
The answer is C. For the lifetime artist.

Suppose recent regulatory reforms relating to credit rating agencies are perceived to improve the reliability and accuracy of credit ratings of corporate bonds. Imagine further that you manage a corporation interested in issuing new bonds, in addition to past issues by the firm that already trade in the market. Identify one way in which your firm might lose and one way in which it might gain from these regulatory reforms. Explain.

Answers

Answer:

If the new reforms bring increase confidence of the investors then the company will have to incur lower borrowing costs as the investor will be available and vice versa.

Explanation:

Suppose that previously our company's credit rating was overrated. Due to recent regulatory reforms, my company achieved a lower credit rating and hence the investor confidence in our company dropped significantly. Now the investor is not interested to invest in my company and to urge them to invest in the company, they will be offered higher interest. If the reforms are going to impact our credit rating adversely then the borrowing cost will increase and vice versa.

Furthermore, Core Principle 3 says that the decsion making of the investor is based on the information that is readily available to him. This means if the reforms increase the access of the borrower through improved credit rating then it will be favourable for the company in terms of lower borrowing costs. If the reforms decrease the access of the borrower through depreciating credit rating then it will adversely affect the company in terms of lower borrowing costs and lower investment access.

CAN SOMEONE PLEASE ACTUALLY HELP AND NOT USE THIS JUST FOR POINTS. I REALLY NEED THE HELP.

What are ?

Business Description

Marketing Strategies

Competitive Analysis

Marketing Plan

Operations and Management Plan

Financial Plan

Answers

The business description is basically describing what the business is for like what is the purpose of the business or what the business is doing.

Marketing strategies is basically the methods used by a business to promote their products such as public relations advertisement etc.

The marketing plan is basically a strategy that is set by the business to attract customers.

Operations and management plan is basically listing the organizational structure in the business and the activity those individuals will carry out.

The financial plan of a business is basically a financial strategy to determine how much money/monetary capital is required for the daily operations of the business.

which of the following is an example of greenwashing

Answers

Answer:

An example of greenwashing is the American multinational oil and gas corporation ExxonMobil indicating they were reducing greenhouse gas emissions while they were actually increasing

Explanation:

The example of greenwashing is a food company changes its packaging to look more natural in order to sell more.

In greenwashing, company do creates a small product that is eco-friendly to draw customers into their store.

Example: A doormat company sells one product made out of recycled material. The recycled material is overpriced but still makes them look good.

Unilever is also one type of business going green with an eco friendly strategy.

Conclusively, Greenwashing is simply the use of deceptive marketing techniques to persuade consumers that an organization's products and vision are environmentally-friendly.

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The full question is below

Which of the following is an example of greenwashing

A. A large office starts a recycling campaign to cut down on waste.

B. An event company uses recycled paper products instead of plastic

products.

C. A hair product company cuts back on certain chemicals.

D. A food company changes its packaging to look more natural in order to sell more.

how important is the value of a product for a customer

Answers

Answer:

very important

Explanation:

The value of a product is very important to the customer. If the product is good, they will buy more, and you will get more business.
If the product is bad, they won’t come back and they will most likely not buy it again. Therefore, you would get less business.

Your broker is selling you an investment scheme in which you will receive $5,000 four years from now, $6,000 five years from now and $7,000 six years from now. The broker is asking you to pay $15,000 for this investment scheme. Your required rate of return is 12%. If you were to pay $15,000 for this scheme, what is the annual rate of return you would earn

Answers

Answer:

IRR = 3.64%

Explanation:

using a financial calculator or excel spreadsheet we can determine the IRR of this investment:

year 0 = -$15,000

year 1 = $0

year 2 = $0

year 3 = $0

year 4 = $5,000

year 5 = $6,000

year 6 = $7,000

IRR = 3.64%

Since your required rate of return is 12%, you should pay a maximum of  $10,128.57

Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $100 Units in beginning inventory 0 Units produced 8,800 Units sold 8,400 Units in ending inventory 400 Variable costs per unit: Direct materials $ 15 Direct labor $ 57 Variable manufacturing overhead $ 3 Variable selling and administrative expense $ 7 Fixed costs: Fixed manufacturing overhead $132,000 Fixed selling and administrative expense $ 8,500 What is the net operating income (loss) for the month under variable costing

Answers

Answer:

$10,700

Explanation:

The unit product cost = $15 + $57 + $3 = $75

Sale revenue = $100 × 8,400 = $840,000

Less :Variable cost

Variable cost of goods sold = 8,400 × $75 = $630,000

Variable selling and administrative = 8,400 × $7 = $58,800

Contribution margin = $151,200

Fixed manufacturing overhead = $132,000

Fixed selling and administrative expenses = $8,500

Net operating income = $10,700

define hedge fund economics.​

Answers

Answer:

Hedge fund are financial partnerships that use pooled funds and employ different strategies to earn active returns for thier investors.. Hedge fund include long-short equity, market neutral, volatility arbitrage and merger arbitrage. They are generally only accessible to accredited investors

How are wages for a particular job determined?

by the federal Wage and Hour Department

by the amount of inflation in the economy

by the equilibrium between supply and demand for workers

by advertisements in the newspaper or online

Answers

Answer:

by the equilibrium between supply and demand for workers

Explanation:

Wages are the amount to pay workers for a particular job when employed. Therefore, determining the wages for a particular job is mostly dependent "on the equilibrium between supply and demand for workers, " and sometimes location.

This is because the higher the number of workers available, the lesser the employers would be willing to increase the wage level of employees given the fact that they can easily find another employee. However, where there is a lesser number of employees for a particular job, the employers would be willing to increase the employees' wages to entice them.

According to the labor market equilibrium, The wages for a particular job are determined by the equilibrium between supply and demand for workers. Thus, the correct answer is option (c).

The term "labor market," sometimes referred to as the "job market," describes the supply and demand for labor, with employers meeting the demand and employees meeting the supply.

The supply and demand of labor, which are met by employees and employers respectively, are referred to as the labor market.Both macroeconomic and microeconomic perspectives on the labor market are important because they provide useful information on employment and the state of the economy as a whole.Two crucial macroeconomic indicators are labor productivity rates and unemployment rates.

Therefore, The wages for a particular job are determined by the equilibrium between supply and demand for workers. Thus, the correct answer is option (c).

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Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 35 billion bottles of wine were sold every year at a price of $7 per bottle. After the tax, 29 billion bottles of wine are sold every year; consumers pay $8 per bottle (including the tax), and producers receive $4 per bottle. The amount of the tax on a bottle of wine is $1 per bottle. Of this amount, the burden that falls on consumers is $ per bottle, and the burden that falls on producers is $ per bottle. True or False: The effect of the tax on the quantity sold would have been smaller if the tax had been levied on producers.

Answers

Answer:

1. The amount of tax on a bottle of wine is $4.

2. The tax burden on consumers is $1.

3. The tax burden on producers is $3.

4. The effect on the tax on the quantity sold would have been smaller if the tax had been levied on producers.

False.

Explanation:

a) Data and Calculations:

Before the tax, the number of bottles of wine sold every year at $7 per bottle = 35 billion bottles

After the tax, the number of bottles of wine sold every year at $8 per bottle = 29 billion bottles

Therefore, there is a reduction of 6 billion bottles as a result of the increased price of $1 per bottle (from $7 to $8).

The price received by producers = $4 per bottle

Therefore, there is a total tax of $4 ($8 - $4)

Consumers bear $1 ($8 - $7)

Producers bear $3 ($7 - $4)

The effect of the tax would have still increased the price to $8 or more.  Thus, if the tax had been levied on producers, the quantity of bottles sold would have reduced drastically.

The following transactions were completed by the company. The company completed consulting work for a client and immediately collected $6,700 cash earned. The company completed commission work for a client and sent a bill for $5,200 to be received within 30 days. The company paid an assistant $2,000 cash as wages for the period. The company collected $2,600 cash as a partial payment for the amount owed by the client in transaction b. The company paid $940 cash for this period's cleaning services. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.)

Answers

Answer:

The impact of each transaction on individual items of the accounting equation is as follows:

1. Cash $6,700 Consulting Revenue $6,700:

Assets (Cash +$6,700) = Liabilities + Equity (Retained Earnings $6,700)

2. Accounts Receivable $5,200 Commission Revenue $5,200:

Assets (Accounts Receivable +$5,200) = Liabilities + Equity (Retained Earnings $5,200)

3. Wages Expense $2,000 Cash $2,000:

Assets (Cash -$2,000) = Liabilities + Equity (Retained Earnings -$2,000)

4. Cash $2,600 Accounts Receivable $2,600:

Assets (Cash +$2,600 Accounts Receivable -$2,600) = Liabilities + Equity

5. Cleaning Expense $940 Cash $940:

Assets (Cash -$940) = Liabilities + Equity (Retained Earnings -$940)

Explanation:

a) Data and Calculations:

Accounts affected by each transaction:

1. Cash $6,700 Consulting Revenue $6,700

2. Accounts Receivable $5,200 Commission Revenue $5,200

3. Wages Expense $2,000 Cash $2,000

4. Cash $2,600 Accounts Receivable $2,600

5. Cleaning Expense $940 Cash $940

b) The accounting equation is Assets = Liabilities + Equity.  It is the basis of accounting, debit and credit sides of accounts or the double-entry system of accounting.  It is always in balance with each business transaction when they are properly recorded in the journals and correctly  posted to the general ledger.

express 75 kobo as a decimal of 1 naira 50 kobo​

Answers

0.05 i think because (15 kobo / 300 kobo) = 0.05

Sunland, Inc. had pre-tax accounting income of $2100000 and a tax
rate of 40% in 2018, its first year of operations. During 2018 the company had the following transactions:

Received rent from Jane, Co. for 2019 $90000
Municipal bond income $114000
Depreciation for tax purposes in excess of book depreciation $54000
Installment sales profit to be taxed in 2019 $156000
At the end of 2018, which of the following deferred tax accounts and balances exist at December 31, 2018?
a. Deferred tax asset $57600
b. Deferred tax asset $36000
c. Deferred tax liability $57600
d. Deferred tax liability $36000

Answers

Answer:

b. Deferred tax asset $36000

Explanation:

The computation of the deferred tax is shown below:

= Rent received from Jane for the year 2019 × tax rate in 2018

= $90,000 × 40%

= $36,000

Here the rent received on 2019 but the tax should be paid on 2018 so this represent the deferred tax asset

Therefore the option b is correct

g Kally goes to the grocery store each week looking to purchase items that will give her as much utility as possible, given her $100 budget. Last week apples were priced at $4.50 each, and Kally purchased 3 apples. This week apples are on sale for $2.50 each, while all other prices have remained the same, and Kally chooses to purchase 7 apples. Given this information, plot Kally's demand curve for apples.

Answers

Answer:

Please check the attached image for the graph

Explanation:

The demand curve is a curve that shows the various quantities of a good that is purchased at different prices.

The demand curve is downward sloping due to the inverse relationship between price and quantity demanded. The higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This is known as the law of demand.

It can be seen that the quantity demanded of apples increased from 3 to 7 when price reduced to $2.50

On the demand curve, price is on the vertical axis, while quantity demanded is on the horizontal axis

Clearsound uses Alpha Electronics and La Paz Company to buy two electronic components used in the manufacture of its cell phones: Component 125X and Component 30Y. Consider two activities: testing components and reordering components. After the two components are inserted, testing is done to ensure that the two components in the phones are working properly. Reordering occurs because one or both of the components have failed the test and it is necessary to replenish component inventories. Activity cost information and other data needed for supplier costing are as follows:
I. Activity Costs Caused by Suppliers (testing failures and reordering as a result)
Activity Costs
Testing components $1,200,000
Reordering components 300,000
II. Supplier Data
Alpha Electronics La Paz Company
125X 30Y 125X 30Y
Unit purchase price $10 $26 $12 $28
Units purchased 120,000 84,400 15,000 15,000
Failed tests 1,500 780 10 10
Number of reorders 60 40 0 0
Required:
Determine the cost of each supplier by using ABC. Round Test and Reorder rates to the nearest dollar, and final answers to the nearest cent.
Alpha Electronics La Paz Company
125X 30Y 125X 30Y
Unit cost: $ $ $ $

Answers

Answer:

Clearsound

The cost of each supplier, using ABC:

                                  Alpha Electronics           La Paz Companyl

                                  125X              30Y           125X             30Y

Unit cost                   $18.02         $32.24       $12.35      $28.35

Explanation:

a) Data and Calculations:

Activity Costs

Testing components     $1,200,000

Reordering components $300,000

Total costs =                  $1,500,000

II. Supplier Data

                                  Alpha Electronics           La Paz Company    Total

                                  125X                30Y         125X             30Y

Unit purchase price    $10                $26           $12             $28

Units purchased   120,000         84,400          15,000     15,000

Total costs of units $1,200,000 $2,194,400  $180,000   $420,000

Failed tests               1,500            780            10            10        2,300

Number of reorders     60              40             0             0            100

Activity Rates:

Failed tests $1,200,000/2,300 = $521.74

Reordering $300,000/100 = $3,000

                                  Alpha Electronics           La Paz Companyl

                                  125X                30Y         125X             30Y

Unit purchase price    $10                $26           $12             $28

Units purchased   120,000         84,400          15,000     15,000

Total costs of units $1,200,000 $2,194,400  $180,000   $420,000

Testing components   782,610      406,957         5,217           5,217

Reordering                  180,000      120,000

Total costs              $2,162,610 $2,721,357    $185,217   $425,217

Unit cost                     $18.02         $32.24       $12.35      $28.35

You plan to purchase a house for $180,000 using a 30-year mortgage obtained from your local bank. You will make a down payment of 10 percent of the purchase price. You will not pay off the mortgage early. Assume the homeowner will remain in the house for the full term and ignore taxes in your analysis. a. Your bank offers you the following two options for payment. Which option should you choose? b. Your bank offers you the following two options for payments. Which option should you choose?

Answers

Answer:

choose the first one

Explanation:

get the debt over faster

Precision Company estimates its machine-hour requirements for the four quarters to be 35,000 hours, 20,000 hours, 15,000 hours, and 30,000 hours respectively. The variable manufacturing overhead rate is $4 per machine-hour. The fixed manufacturing overhead is $50,000 per quarter, which includes $20,000 of depreciation expense. Knowledge Check 01 What is the budgeted variable manufacturing overhead for the year

Answers

Answer:

Total estimated overhead costs for the period= $400,000

Explanation:

Giving the following information:

Total machine-hours= 35,000 + 20,000 + 15,000 + 30,000

Total machine-hours= 100,000

Predetermined variable overhead rate= $4 per machine hour

To calculate the estimated variable overhead for the period, we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

4 =  total estimated overhead costs for the period / 100,000

total estimated overhead costs for the period= 100,000*4

total estimated overhead costs for the period= $400,000

Tyler Hawes and Piper Albright formed a partnership, investing $210,000 and $70,000, respectively. Determine their participation in the year's net income of $104,000 under each of the following independent assumptions. No agreement concerning division of net income. Divided in the ratio of original capital investment. Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3. Salary allowances of $36,000 and $45,000, respectively, and the balance divided equally. Allowance of interest at the rate of 5% on original investments, salary allowances of $36,000 and $45,000, respectively, and the remainder divided equally.
Hawes Albright
(a) $ $
(b) $ $
(c) $ $
(d) $ $
(e) $ $

Answers

Answer:

No agreement concerning division of net income.

Hawes = $52,000

Albright = $52,000

Divided in the ratio of original capital investment.

Hawes = (210/280) x $104,000 = $78,000

Albright = (70/280) x $104,000 = $26,000

Interest at the rate of 5% allowed on original investments and the remainder divided in the ratio of 2:3.

Hawes = ($210,000 x 5%) + $36,000 = $46,500

Albright = ($70,000 x 5%) + $54,000 = $57,500

Salary allowances of $36,000 and $45,000, respectively, and the balance divided equally.

Hawes = $36,000 + $11,500 = $47,500

Albright = $45,000 + $11,500 = $56,500

Allowance of interest at the rate of 5% on original investments, salary allowances of $36,000 and $45,000, respectively, and the remainder divided equally.

Hawes = ($210,000 x 5%) + $36,000 + $4,500 = $51,000

Albright = ($70,000 x 5%) + $45,000 + $4,500 = $53,000

On December 31, 2020, Oriole Company sold for $153000 an old machine having an original cost of $266000 and a book value of $113000. The terms of the sale were as follows: $40000 down payment $56500 payable on December 31 each of the next two years The agreement of sale made no mention of interest; however, 7% would be a fair rate for this type of transaction. What should be the amount of the notes receivable net of the unamortized discount on December 31, 2020 rounded to the nearest dollar? (The present value of an ordinary annuity of 1 at 7% for 2 years is 1.80802.)

Answers

Answer:

$102,153.13

Explanation:

Amount payable on December 31 each of the next two years = $56,500

The PV of ordinary annuity of ($1,7%,2 years) is 1.80802

The amount of the notes receivable net of the unamortized discount = Amount Payable * PV($1, 7%, 2)

= $56,500 * 1.80802

= $102,153.13

So, the amount of the notes receivable net of the unamortized discount on December 31, 2020 will be $102,153.13.

N Force, a U.S. car manufacturing company, has expanded its business operations to China. Unlike their U.S. colleagues, many Chinese employees are reluctant to address senior colleagues by their first names because Chinese culture emphasizes respect for elders. To create an organizational culture that is common for all its employees, management at N Force headquarters has decided to assign titles to the senior staff. Which of the following methods would be best suited in China's top-down hierarchical culture to spread the message of the new organizational culture?
a. Assigning a team of junior staff to conduct a presentation on a list of code names for senior employees
b. Requesting employees to spread the message to peers
c. Requesting leaders to impart the message to employees
d. Creating a video starring junior staff to create awareness about the new organizational culture

Answers

Answer:

c. Requesting leaders to impart the message to employees

Explanation:

As the culture of an organization that suits to china in terms of elders here the best way to pass the message i.e. from the leaders to the employees

The option c would represent the same and considered to be best suited in China with respect to the top-down hierarchical culture so that the message could be spreaded

Exercise 6-11A Record transactions using a perpetual system (LO6-5) DS Unlimited has the following transactions during August. August 6 Purchases 60 handheld game devices on account from GameGirl, Inc., for $150 each, terms 3/10, n/60. August 7 Pays $350 to Sure Shipping for freight charges associated with the August 6 purchase. August 10 Returns to GamerGirl four game devices that were defective. August 14 Pays the full amount due to GameGirl. August 23 Sells 40 game devices purchased on August 6 for $170 each to customers on account. The total cost of the 40 game devices sold is $6,070.00.

Answers

Answer and Explanation:

The journal entries are shown below:

On Aug 6

Inventory (60 × $150) $9,000

       To Accounts Payable $9,000

(being inventory purchased on account is recorded)

On Aug 7

Inventory Dr $350

           To Cash $350

(Being freight charges paid in cash)

On Aug 10

Accounts Payable $600 (4 × $150)  

        To Inventory $600

(Being returned inventory is recorded)

On Aug 14

Accounts Payable  ($9,000 - $600) $8,400

         To Inventory  ($8,400 × 3%) $252

         To Cash $8,148

(Being cash paid is recorded)

On Aug 23

Accounts Receivable ($170 × 40) $6,800

       To Sales revenue $6,800

(Being sales is recorded)

Cost of goods sold $6,070

    To Inventory $6,070

(Being cost is recorded)

Assume that the CBL is not marketable at split-off but must be planed and sized at a cost of $300,000 per production run. During this process, 10,000 units are unavoidably lost and have no value. The remaining units of CBL are salable at $14 per unit. The RBL, although salable immediately at the split-off point, is coated with a tarlike preservative that costs $200,000 per production run. The RBL is then sold for $12 each. Using the net realizable value basis, how much of the completion costs should be assigned to each unit of CBL

Answers

Question

Northwest Building Products (NBP) manufactures two lumber products from a joint milling process: residential building lumber (RBL) and commercial building lumber (CBL). A standard production run incurs joint costs of $350,000 and results in 100,000 units of RBL and 90,000 units of CBL. Each RBL sells for $13 per unit and each CBL sells for $13 per unit.

Assume that the CBL is not marketable at split-off but must be planed and sized at a cost of $300,000 per production run. During this process, 10,000 units are unavoidably lost and have no value. The remaining units of CBL are salable at $14 per unit. The RBL, although salable immediately at the split-off point, is coated with a tarlike preservative that costs $200,000 per production run. The RBL is then sold for $12 each. Using the net realizable value basis, how much of the completion costs should be assigned to each unit of CBL

 

Answer:

Completion cost per unit of CBL=$5.82

Explanation:

Joint cost is the total cost incurred from the start of start of production process up until the split off point where two or more products result from the same process. The joint products in this case are CBL and RBL

The completion cost of CBL is the sum of the apportioned joint cost at the split-off point plus the further processing cost

Completion cost = apportioned joint cost + further processing cost

Joint cost can be apportioned using the net realizable value as follows

Total net realizable value at the split of point for the two product=

RBL =$13 × 100,000=1,300,000

CBL =$13 × 90,000=1,170,000

Total                         2,470,000

Apportioned joint cost to CBL = sales value of CBL/Total sales of product× joint cost

= (1,170,000/2,470,000)*$350,000=   165,789.47  

Completion cost =  165,789.47   +  300,000 =  $465,789.47

Completion cost per unit of CBL =  Completion cost/Expected unit

                                                       =$465,789.47/(90,000-10,000) units

                                                       =$5.82

Note that the expected units is that available for sale after normal loss as be accounted for. So, we deduct the loss units

Completion cost per unit of CBL=$5.82

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The management of Lanzilotta Corporation is considering a project that would require an investment of $263,000 and would last for 8 years. The annual net operating income from the project would be $99,000, which includes depreciation of $31,000. The scrap value of the project's assets at the end of the project would be $15,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest

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Answer: 2 years

Explanation:

Firstly, we need to calculate the annual cash inflow which will be:

= Net Operating Income + Depreciation

= $99,000 + 31,000

= $130,000

Payback period = Initial Investment / Annual cash inflow

= $263,000 / 130,000

= 2.02Years

= 2 years approximately

The payback period is 2 years.

Suppose the town of Boone has a total population of 70,000 people. Of those, 65,000 people are employed. There are 1,000 full-time students who are not employed or actively seeking work. The rest of the people are out of work but have been actively seeking work within the past four weeks.
Instructions: In part a, round your answer to 1 decimal place. In part b, enter your answer as a whole number.
a. What is Boone’s unemployment rate?
percent
b. Suppose there are 1,000 people who are unemployed as a result of frictional unemployment and 2,000 people who are unemployed as a result of cyclical unemployment. How many people are unemployed as a result of structural unemployment?

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Answer:

A. 5.8%

B. 1,000

Explanation:

Calculation for Boone’s unemployment rate

Unemployment rate=[(70,000-1,000)-65,000]/(70,000-1,000)*100

Unemployment rate=(69,000-65,000)/69,000*100

Unemployment rate=4,000/69,000*100

Unemployment rate=5.8%

Therefore Boone’s unemployment rate will be 5.8%

B. Calculation for How many people are unemployed as a result of structural unemployment

Unemployed people=[(70,000-1,000)-65,000]-1,000-2,000

Unemployed people= 4,000 - 1,000 - 2,000

Unemployed people=1,000

Therefore the numbers of people that are are unemployed as a result of structural unemployment will be 1,000

Alpaca Corporation had revenues of $200,000 in its first year of operations. They have not collected on $20,000 of their sales, and still owe $25,000 on $70,000 of merchandise they purchased. The company had no inventory on hand at the end of the year. The company paid $15,000 in salaries. Owners invested $20,000 in the business and $20,000 was borrowed on a five-year note. The company paid $2,000 in interest that was the amount owed for the year, and paid $6,000 for a two-year insurance policy on the first day of business. Alpaca has an effective income tax rate of 40%.
Compute the cash balance at the end of the first year for Alpaca Corporation.

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Answer:

Closing balance $110000

Explanation:

The computation of the cash balance at the end of the first year is shown below:

Funds raised from owners $20000

Less: Funds borrowed $20,000

Collection from debtors $180,000 ($200,000 - $20,000 )

Less: Payment for merchandise $45000

Salaries paid $15000

Interest paid $2000

Insurance policy paid $6000

Income tax  at 40% $42000

Closing balance $110000

Working note:

Calculation of tax paid

Sales 200000

Less: purchases 75000

salary 15000

interest 2000

insurance(50% of 6000) 3000

Income 105000

Tax at 40% 42000