BUSINESS COLLEGE

The standard costs and actual costs for direct materials for the manufacture of 2,300 actual units of product are Standard Costs Direct materials (per completed unit) 1,040 kilograms @$8.65 Actual Costs Direct materials 2,300 kilograms @ $8.05 Round your final answer to the nearest dollar. The amount of direct materials price variance is

Answers

Answer 1
Answer:

Answer:

$1,380

Explanation:

Data provided in the question:

Standard Direct materials cost = $8.65

Actual Direct materials cost = $8.05

Actual Direct materials = 2,300

Standard Direct materials = 1,040

Now,

The amount of direct materials price variance

= (Standard cost - Actual cost ) × Actual quantity

= ( $8.65 - $8.05 ) × 2,300

= 0.6 × 2,300

= $1,380

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Heller Corporation has aged its accounts receivable and estimated uncollectible accounts as follows (in thousands). Age of Receivables A/R Balance Estimated % uncollectible Current $11,000 1% 30-60 days past due 2,400 3% 61-90 days past due 1,700 6% Over 90 days past due 840 10% What bad debt expense should the company report for the current period

You are the manager of a large​ crude-oil refinery. As part of the refining​ process, a certain heat exchanger​ (operated at high temperatures and with abrasive material flowing through​ it) must be replaced every year. The replacement and downtime cost in the first year is ​$175 comma 000175,000. This cost is expected to increase due to inflation at a rate of 77​% per year for sixsix years​ (i.e. until the EOY 77​), at which time this particular heat exchanger will no longer be needed. If the​ company's cost of capital is 1515​% per​ year, how much could you afford to spend for a higher quality heat exchanger so that these annual replacement and downtime costs could be​ eliminated?

Answers

Answer:

The company could pay up to 866,965.89 dollars today to solve the current heat exchanger situation

Explanation:

We have to determinate the present value of 7 year annuity which increase at a rate of 7% when the cost of capital is 15% being the first quota 175,000 dollars

(1-(1+g)^(n)* (1+r)^(-n) )/(r - g)  

grow rate 0.07  

required return 0.15

Cuota 175,000

n 7

PV =  866,965.89  

Toledo Tire Company, which has been in business for several years, produces and sells automobile tires, including their all-terrain RP7 tire. The 2018 sales budget for their all-terrain RP7 tire is as follows: Quarter RP7 tires 1 10,000 2 12,000 3 11,000 4 14,000 Per company policy: - management desires an ending inventory of tires each quarter equal to 20% of the next quarter's sales; - sales units of tires in the first quarter of 2019 are expected to be 25% higher than sales for the first quarter of 2018; - beginning inventory of tires on January 1, 2018 is anticipated to be 3,000 units.

Answers

Complete Question:

a) Calculate the anticipated production for the first quarter of 2018 for the RP7 tire

b) Calculate the anticipated beginning inventory of the RP7 model tires for the third quarter of 2018

c) Calculate the anticipated production for the fourth quarter of for the RP7 tire

Answer:

a) Anticipated Production for the first quarter of 2018 for the RP7 tire = 9,400

b) Anticipated beginning inventory of the RP7 model tire for the third quarter of 2018 = 2,200

c) Anticipated production for the fourth quarter of 2018 for the RP7 tire = 13,700

Explanation:

The explanation is summarized by the table attached to this solution.

Lanning Company sells 160,000 units at $45 per unit. Variable costs are $27 per unit, and fixed costs are $975,000. Determine (a) the contribution margin ratio, (b) the unit contribution margin, and (c) income from operations. a. Contribution margin ratio % b. Unit contribution margin $ per unit c. Income from operations

Answers

Answer:

a. Contribution margin ratio = Contribution per unit/selling price

                                              = $18/$$5

                                              = 0.4 = 40%

b.    Contribution per unit = Selling price - Variable cost per unit

                                       = $45 - $27

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c. Income from operations                         $

Total contribution ($18 x 160,000 units)  2,880,000

Less: Fixed cost                                            975,000

Income from operations                           1,905,000

Explanation:

Contribution margin ratio is the ratio of contribution per unit to selling price

Contribution per unit is the excess of selling price over variable cost per unit

Income from operation is the excess of total contribution over fixed cost

In the Month of March, Baldwin received orders of 113 units at a price of $15.00 for their product Bell. Baldwin uses the accrual method of accounting and offers 30 day credit terms. Baldwin delivers 113 units in April. They received payment for 57 units in March, and 57 units in April. In the March income statement, how much revenue is recognized on the March income statement from this order?

Answers

Answer:

Zero

Explanation:

Under the accrual method, revenue is recognized once the recognition criteria is met. These includes;

  • the goods have been delivered or the service rendered
  • the affiliated cost for such revenue can be reliably measured

When revenue is earned but cash is yet to be received,

Debit Accounts receivable

Credit Revenue account

When cash is received,

Debit Cash account  

Credit Accounts receivable.

Since the items were delivered in April, any amount received as revenue in March will be deferred. As such, no revenue will be recognized in the income statement for March.

Wade Corp. has 150,000 shares of common stock outstanding. In 2020, the company reports income from continuing operations before income tax of $1,210,000. Additional transactions not considered in the $1,210,000 are as follows.1. In 2020, Wade Corp. sold equipment for $40,000. The machine had originally cost $80,000 and had accumulated depreciation of $30,000. The gain or loss is considered non-recurring.2. The company discontinued operations of one of its subsidiaries during the current year at a loss of $190,000 before taxes. Assume that this transaction meets the criteria for discontinued operations. The loss from operations of the discontinued subsidiary was $90,000 before taxes; the loss from disposal of the subsidiary was $100,000 before taxes.3. An internal audit discovered that amortization of intangible assets was understated by $35,000 (net of tax) in a prior period. The amount was charged against retained earnings.4. The company recorded a non-recurring gain of $125,000 on the condemnation of some of its property (included in the $1,210,000).Instructions Analyze the above information and prepare an income statement for the year 2020, starting with income from continuing operations before income tax. Compute earnings per share as it should be shown on the face of the income statement. (Assume a total effective tax rate of 19% on all items, unless otherwise indicated.)

Answers

Final answer:

The net income of Wade Corp. for the year 2020 is $808,850. This is calculated by considering income from continuing operations, the loss from discontinued operations, the profits from selling equipment, understated amortization of intangible assets, and the recurring gain. The earnings per share is $5.39, which is calculated by dividing the net income by the number of shares outstanding.

Explanation:

Income Statement

Income from Continuing Operations before Income Tax: $1,210,000

Income Tax (19%): $-229,900

Income from Continuing Operations: $980,100

Discontinued Operations: (net of tax $190,000)*(1-0.19) = $-153,900

Profit from Selling Equipment: (($40,000 - $80,000 + $30,000)*(1-.19)) = $-6,100

Understated Amortization of Intangible Assets: $-35,000 (This amount is already net of tax).

Recurring Gain: ($125,000*0.19) = $23,750 (Subtract out non-recurring part from Continuing Operations.)

Net Income: ($980,100 - $153,900 - $6,100 - $35,000 + $23,750) = $808,850

Earnings per Share

Net Income / Number of shares outstanding: $808,850 / 150,000 = $5.39 per Ordinary Share

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Answer:

just get rid of this answer

Explanation:

Regulatory focus theory suggests that consumers will react differently depending on which broad set of motives is more salient. Name and describe the two prominent sets of motives and describe how consumers will react when each set of motives is more noticeable. Use a specific product or service to explain your answer.

Answers

Two prominent sets of motives under regulatory focus theory are termed Promotion and prevention.

What is regulatory focus theory?

According to the regulatory focus hypothesis, people can work toward objectives with either a promotion or a preventive emphasis. People who aim for advancement interpret pleasure as the accomplishment of their aims, ambitions, and aspirations, and interpret suffering as their absence.

Motives assume that emotional trade-offs between both the coexisting motivational systems on promotion and prevention will always happen. Promotion-oriented people are opportunistic and look for real experiences as motivation to develop action-oriented objectives, which are necessary to getting outcomes.

People who have a prevention orientation are extremely optimistic and see keeping things as they are and preventing bad things from happening as their defining and overriding motives.

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