All of the given options are unit-level activities. So, option (d) is the correct answer.
Activities at the unit level are carried out in order to make the product. There are four steps in this manufacturing process:
1. engineering
2. setups
3. machining
4. inspecting
Unit-level activities are dependent on the number of units generated, which means that when the number of units produced increases, more expenditures are allocated.
Engineering, setups, and inspections are all done in batches in this situation, hence they are batch-level operations.
For more information about unit-level activities, refer below
Answer:
Attraction Corporation produces specially machined parts. The parts are produced in batches in one continuous manufacturing process. Each part is custom produced and requires special engineering design activity (based on customer specifications). Once the design is completed, the equipment can be set up for batch production. Once the batch is completed, a sample is taken and inspected to see if the parts are within the tolerances allowed. Thus, the manufacturing process has four activities: engineering, setups, machining, and inspecting. In addition, there is a sustaining process with two activities: providing utilities (plantwide) and providing space. Costs have been assigned to each activity using direct tracing and resource drivers:
Explanation:
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Common stock 110,000 Warranties payable (short term) 6,500
Notes receivable (short term) 32,500 Gain on sale of equipment 19,000
Allowance for doubtful accounts 19,000 Operating expenses 65,000
Accumulated depreciation 66,000 Cash flow from investing activities 116,000
Notes payable (long term) 160,000 Prepaid rent 38,000
Salvage value of building 21,000 Land 95,000
Interest payable (short term) 6,000 Cash 41,000
Uncollectible accounts expense 45,000 Inventory 101,000
Supplies 6,500 Accounts payable 55,000 Equipment 243,000
Interest expense 36,000 Interest revenue 6,200
Salaries payable 68,000 Sales revenue 940,000
Unearned revenue 47,000 Dividends 20,000
Cost of goods sold 595,000 Warranty expense 9,200
Accounts receivable 108,000 Interest receivable (short term) 3,600
Depreciation expense 3,000
Answer:
Eller Equipment Co.
Income statement
Particular Amount($) Amount ($)
Sales revenue 940,000
Less: Cost of good sold (595,000)
Gross margin 345,000
Operating expenses
Salaries expenses 122,000
Operating expenses 65,000
Warranty expenses 9,200
Un-collectible account expenses 45,000
Depreciation expenses 3,000
Total operating expenses (244,200)
Operating income 100,800
Non-operating expenses
Interest revenue 6,200
Interest expenses (36,000)
Gain on sale of equipment 19,000
Total non-operating items (10,800)
Net Income $90,000
Balance Sheet
Assets Amount$
Current Assets
Cash 41,000
Accounts receivable 108,000
Less: Allowance for doubtful (19,000) 89,000
accounts
Merchandise inventory 101,000
Interest receivable 3600
Prepaid rent 38,000
Supplies 6,500
Notes receivable 32,500
Total current assets 311,600
Property Plant and Equipment
Equipment 243,000
Less: Accumulated depreciation (66,000) 177,000
Land 95,000
Total property plant and equipment 272,000
Total Assets 583,600
Liabilities and Stockholder Equity
Current liabilities
Account payable 55,000
Unearned revenue 47,000
Warranties payable 6,500
Interest payable 6,000
Salaries payable 68,000
Total current liabilities 182,500
Long-term liabilities
Notes payable 160,000
Total long-term liabilities 160,000
Stockholders equity
Common stock 110,000
Retained earning 131,100
Total stockholders equity 241,100
Total liabilities and stockholders equity $583,600
Workings
Retained earning = Beginning retained earning + Net income - Dividend
= 61,100 + 90,000 - 20,000
= 131,100
The multistep income statement and the classified balance sheet was prepared for the Eller Equipment Co. using the provided year 1 figures. The net income was found to be $98,200 and total assets for the company were calculated to be $541,000. These statements are essential tools for financial decision making in business.
Multistep Income Statement for Eller Equipment Co.
Start by listing the different income categories. The sales revenue is $940,000.
Deduct the cost of goods sold which is $595,000 to calculate the gross profit: $345,000.
Next, deduct the operating expenses that include salaries expense ($122,000), uncollectible accounts expense ($45,000), operating expenses ($65,000), depreciation expense ($3,000), and interest expense ($36,000) to arrive at an operating income: $73,000.
Lastly, consider the gain on sale of equipment ($19,000) and the interest revenue ($6,200) to find a net income of $98,200.
Classified Balance Sheet for Eller Equipment Co.
Start with assets that include cash ($41,000), accounts receivable ($108,000 - $19,000 = $89,000), inventory ($101,000), Prepaid Rent ($38,000), Land ($95,000), and Equipment ($243,000 - $66,000 = $177,000) to get a total asset of $541,000.
Next, consider liabilities which include accounts payable ($55,000), salaries payable ($68,000), interest payable ($6,000), unearned revenue ($47,000), warranties payable ($6,500), and notes payable ($160,000) to get a total liability of $342,500.
Finally, calculate the equity. The retained earnings are beginning retained earnings ($61,100) + net income ($98,200) - dividends ($20,000) = $139,300.
Adding the common stock ($110,000) will give a total equity of $249,300.
Check your work: Assets ($541,000) = Liabilities ($342,500) + Equity ($249,300)
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Answer:
Strategic leaders can help any airline related issue to be solved
Explanation:
Strategic leaders are needed everywhere. An airline company would indeed benefit from a strategic leader and or manager
Answer:
The correct answer is letter "A": PCN.
Explanation:
In international staffing, a Parent Country National (PCN) is an employee that is hired to work in the same country from where the employee is resident and where the company has its headquarters. Usually, firms hire PCNs when foreign cultures are distant.
Answer:
Direct Material Price Variance = (Actual price - standard price) x actual quantity purchased
Direct Material Price Variance = ($0.80 - $0.83) x 11400000 = $342000 (F)
Actual Price = $9120000 / 11400000 = $0.80
Direct Material Quantity Variance = (Actual quantity - standard quantity) x Standard Price
Direct Material Quantity Variance = (11400000 - 12480000) x $0.83 = $896400 (F)
Standard Quantity = 1040000 x 12 = 12480000
The direct materials price variance is $342,000 unfavorable and the direct materials quantity variance is $9,351,200 favorable.
To calculate Parker Plastic's direct materials price variance, we need to compare the standard price per unit of direct materials with the actual price per unit. The formula for calculating the price variance is (Actual Price - Standard Price) * Actual Quantity.
Using the given information, the actual price per unit is $0.80 per sq. ft, so the price variance is ($0.80 - $0.83) * 11,400,000 sq. ft = $342,000 U.
To calculate the direct materials quantity variance, we need to compare the standard quantity per unit of direct materials with the actual usage. The formula for calculating the quantity variance is (Actual Quantity - Standard Quantity) * Standard Price.
Using the given information, the actual usage is 11,400,000 sq. ft, so the quantity variance is (11,400,000 - 1,040,000) * $0.83 = $9,351,200 F.
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Revenue Expenses
(A) $18,600,000 $18,750,000
(B) $4,650,000 $ 4,687,500
(C) $4,650,000 $ 5,250,000
(D) $4,687,500 $ 4,687,500
Answer:
(C) $4,650,000 $ 5,250,000
Explanation:
total contract price is $ 18,600,000
season construction using percentage of completion method.
Amount of revenue & construction expense for the year ended december 31, 2020 will be
25% of $ 18,600,000 revenue = $ 4,650,000
25% of $ 18,750,000 total cost = $5,250,000