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Related Questions
A bond with a coupon rate of 5.16 percent and semiannual coupon payments matures in 12 years. The YTM is 6.37 percent. What is the effective annual yield?
Pink Arrangements has just completed operations for the year ended December 31, 2018. This is the third year of operations for the company. The following data have been assembled for the business.Insurance Expense $2,500Service Revenue 84,000Utilities Expense 1,500Rent Expense 12,000Common Stock 5,500Cash 5,800Retained Earnings, January 1, 2018 4,700Salaries Expense 47,000Accounts Payable 600Office Supplies 1,900Dividends 4,500Accounts Receivable 7,000Equipment 12,600Required:Prepare the income statement of Pink Arrangements for the year ended December 31, 2018.
The growing integration of the world economy is: A.increasing the intensity of competition in a wide range of manufacturing and service industries.B. decreasing the intensity of competition in manufacturing industries, and increasing the intensity of competition in services.C. increasing the intensity of competition in manufacturing industries, and decreasing the intensity of competition in services.D. narrowing the scope of competition in a wide range of service, commodity, and manufacturing industries.
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Answer:
The correct answer is letter "B": $13.20.
Explanation:
The time value of money is a concept that states that a dollar today is always worth more than a dollar tomorrow based on the interest that can be accrued. In that sense, the sooner the money is received, the better since there will be more time for the interest to grow. The future value of money is calculated with the following formula:
FV=PV x [1+ i/n]^((n x t))
Where:
- FV = Future value of money
- PV = Present value of money
- i = interest rate
- n = number of compounding periods per year
- t = number of years
In the example:
FV = ?
PV = $1
i = 3,5%
n = 1
t = 75
Thus,
FV= $1 x [1+ (3,5%)/1]^((1 x 75))
FV= $1 x [1+ (35/10 x 1/100)/1]^((75))
FV= $1 x [1+ (35/1000)/(1/1)]^((75))
FV= $1 x [1+ 35/1000]^((75))
FV=$13,1985 ≅$13,20
Answer:
14.55
Explanation:
i think this is right and I hope that it helps:)
Labor 1.5 hours @ $15.00 per hour
1. What was Glass Vessel’s flexible budget variance for materials in March? (As part of your answer, please indicate whether this variance was favorable or unfavorable.)
2. What was Glass Vessel’s labor efficiency/usage variance for March? (As part of your answer, indicate whether this variance was favorable or unfavorable.)
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Answer:
(i) -62.5 (Unfavorable)
(ii) -450 (Unfavorable).
Explanation:
(1) Material variance:
Material cost variance is the difference between standard cost for actual output produced and the actual cost of materials.
Material cost variance = (SQ × SP) – (AQ × AP)
Where SQ = Standard quantity for actual output, AQ = Actual quantity, SP = Standard Price and AP = Actual price.
This material cost variance can be subdivided into material price variance and material usage variance.
Material price variance = AQ × (SP – AP)
Material usage variance = SP (SQ - AQ)
In the problem, it is given that materials 2 pounds @ 1.25 per pound.
Therefore, SP = $1.25 and SQ per unit = 2 pounds.
It is given that Glass vessel produced 300 vases using 650 pounds of material.
Therefore, AQ = 650 pounds and actual output = 300 vases.
Therefore SQ for actual output:
= (SQ per unit) × (Actual output)
= (2 pounds) × (300 vases)
= 600 pounds.
It is given that Glass vessel purchased 650 pounds of material for $845.
Therefore Actual price = $845 ÷ 650 pounds
= $ 1.3
SP = $1.25 and AP = $1.3
SQ = 600 pounds and AQ = 650 pounds.
Material cost variance = (SQ × SP) – (AQ × AP)
Material price variance = AQ × (SP – AP)
Material usage variance = SP × (SQ-AQ)
Material cost variance (MCV):
= (600 × 1.25) – (650 × 1.3)
= -95 (Unfavorable)
Material price variance (MPV):
= 650 × (1.25 – 1.3)
= -32.5 (Unfavorable)
Material usage variance (MUV):
= 1.25 (600-650)
= -62.5 (Unfavorable)
Verification:
MCV = MPV + MUV
= (-32.5) + (-62.5)
= -95.
(2) Labor variances:
Labor cost variance is the difference between standard labor cost and the actual cost.
Labor cost variance = (SH × SR) – (AH × AR)
Where SH = Standard hours for actual output, AH = Actual hours, SR = Standard rate and AR = Actual rate.
Labor cost variance can be subdivided into Labor rate variance and Labor efficiency variance.
Labor rate variance = AH × (SR-AR)
Labor efficiency variance = SR × (SH – AH)
It is given that Labor 1.5 hours @ $15 per hour is the standard.
Therefore, SR = $15 and SH per unit = 1.5 hours.
SH for actual output = SH per unit × actual output
= 1.5 × 300
= 450 hours.
It is given that the actual total labor costs for March were $7200, which entailed 480 hours of labor.
Therefore, AH = 480 hours.
AR = Labor cost ÷ labor hours
= 7,200 ÷ 480
= $15.
SH = 450 hours, AH = 480 hours, SR = $15 and AR = $15.
Here, standard rate and actual rate are same. Therefore the labor rate variance is NIL. So the entire labor variance will come under labor efficiency variance.
Labor cost variance = (SH × SR) – (AH × AR)
Labor rate variance = AH × (SR-AR)
Labor efficiency variance = SR × (SH – AH)
Labor cost variance = (450 × 15) – (480 × 15)
= -450 (Unfavorable)
Labor rate variance = 480 × (15-15)
= 0
Labor efficiency variance = 15 × (450 - 480)
= -450 (Unfavorable).
Answers
Answer:
Total= $34,000
Explanation:
Giving the following information:
West Units produced and sold 31,000 units
Selling price per unit $ 6
Variable costs per unit 2
Direct fixed cost 49,000
Common fixed cost 41,000
Segment margin:
Sales= 186,000
Variable costs= 62,000
Direct fixed costs= 49000
Common fixed costs= 41000
Total= $34,000
B. Manager salaries.
C. Insurance.
D. Direct materials.
E. Straight-line depreciation.
Answers
Answer:
Correct answer is D. Direct materials
Explanation:
Among the given choices, direct materials is most likely to be classified as variable cost. Direct materials are the supplies used in manufacturing products which can be directly identified in the output production. It is a main component which is traceable to create or produce products. Basically, all manufacturing industries used direct materials as their variable cost in their production.
decentralize decision making and facilitate teamwork.
detect opportunities and increase innovation.
adapt to change and uncertainty.
provide performance feedback.
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Decentralize decision making and facilitate teamwork. The correct answer is option (a).
What is Decentralize decision making?
Any procedure in which decision-making power is dispersed across a broader group is considered to be decentralised decision-making. Additionally, it suggests that lower level bureaucrats, executives, and employees are given more power. This may happen in any institution, regardless of size, from a business to a political body.
On the other hand, decentralising decision-making shortens wait times, enhances the flow and throughput of product development, and makes it possible for quicker feedback and more creative solutions. Higher levels of autonomy are a further, noticeable advantage. In general, it is ideal to make decisions at a decentralised level when they are frequent and time-sensitive. A decision should be centralised if it is rare, not time-sensitive, and includes economies of scale.
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b. Journalize the adjusting entry on December 31 for the amortization of the paten
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Answer:
a. The journal entries for the impaired goodwill as at Dec 31 would be:
Debit Impairment expense/charge $51,500
Credit Goodwill/Allowance for impairment $51,500
(To recognize impairment expense on goodwill)
b. Journal entries for the amortization of the patent as at Dec 31 would be:
Debit Amortization expense $9,600 [$115,200/12]
Credit Accumulated amortization $9,600
(To recognize amortization expense on patent)
Explanation:
A goodwill is impaired when its carrying value exceeds its fair value. The impairment test is carried out annually and the difference by which the carrying value of the goodwill exceeds the fair value is charged to the profit or loss account as impairment expense. The impairment reduces the goodwill to its fair value.
Goodwill belongs to a class of intangible asset and it arises essentially as a result of business combination. A business combination occurs when a company acquires another company.