BUSINESS COLLEGE

In 2017, Oriole Corporation reported net income of $1,004,700. It declared and paid preferred stock dividends of $278,600. During 2017, Oriole had a weighted average of 200,700 common shares outstanding. Compute Oriole’s 2017 earnings per share.

Answers

Answer 1

Answer:

Answer:

$3.62

Explanation:

The dividend distributed to common share = total net income - dividend for preferred stock

= $1,004,700 - $278,600

= $726,100

Earnings per share (EPS) = The dividend distributed to common share / common shares outstanding

= $726,100/ 200700

= $3.62

Related Questions

At the end of the current year, Accounts Receivable has a balance of $4,375,000; Allowance for Doubtful Accounts has a debit balance of $21,300; and sales for the year total $102,480,000. Bad debt expense is estimated at 1/4 of 1% of sales. a. Determine the amount of the adjusting entry for uncollectible accounts.
You buy a 7 percent, 25-year, $1,000 par value floating rate bond in 1999. By the year 2004, rates on bonds of similar risk are up to 9 percent. What is your one best guess as to the value of the bond
Garfield Industries is expanding its operations throughout the Southeast United States. Garfield anticipates that the expansion will increase sales by $1,000,000, and increase the costs of goods sold by $700,000. Depreciation expenses will rise by $50,000 and interest expense will increase by $150,000. The company’s tax rate will remain at 40 percent. If the company’s forecast is correct, how much will net income increase or decrease, as a result of the expansion?
A put and a call have the following terms: Call: strike price $50 expiration date six months Put: strike price $50 expiration date six months The price of the stock is currently $55. The price of the call and put are, respectively, $9 and $1. What will be the profit from buying the call or buying the put if, after six months, the price of the stock is $40, $50, or $60?
Suppose the price level reflects the number of dollars needed to buy a basket of goods containing one can of soda, one bag of chips, and one comic book. In year one, the basket costs $8.00. In year two, the price of the same basket is $7.00. From year one to year two, there is at an annual rate of . In year one, $40.00 will buy baskets, and in year two, $40.00 will buy baskets. This example illustrates that, as the price level falls, the value of money .

Variance Analysis Question The Glass Vessel Company has established the following budget for producing one of its handblown vases: Materials (silica) 2 pounds @ 1.25 per pound Labor 1.5 hours @ $15.00 per hour In March of the most recent year, Glass Vessel produced 300 vases using 650 pounds of materials. Glass Vessel purchased the 650 pounds of materials for $845. Actual total labor costs for March were $7,200, which entailed 480 hours of labor. Please answer both of the following questions:Materials (silica) 2 pounds @ 1.25 per pound
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.)
Must show work

Answers

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).

IRobot designs andmanufactures robots for consumer, commercial, and military use. For the ﬁscal year ended January 2, 2016, the company reported the following on its balance sheet and income statement(amounts in thousands): Accounts receivable, net of allowance of $33 at January 2, 2016, and $67 at December 27,2014, of $104,679 and $71,056, respectively.
Revenue for ﬁscal 2015 (i.e., the year ended January 2, 2016) of $616,778.
Bad debt expense for ﬁscal 2015 of $0.

Required:
Compute the amount of cash collected from customers during ﬁscal 2015.

Answers

Answer:

iRobot

The amount of cash collected from customers during fiscal 2015 = $583,155.

Explanation:

a) Data and Calculations:

Allowance at January 2, 2016 = $33

Allowance at December 27, 2014 = $67

Accounts Receivable at January 2, 2016 = $104,679

Accounts Receivable at December 27, 2014 = $71,056

Revenue for 2015, year ended Jan 2, 2016 = $616,778

Bad debt expense for 2015 = $0

Computation of the Cash collected from customers during fiscal 2015:

Accounts Receivable

Dec. 27, 2014 Balance $71,056

2015 Revenue 616,778

Jan. 2, 2016 Balance (104,679)

2015 Cash $583,155

Describe the Software Development Life Cycle. Describe for each phase of the SDLC how it can be used to create software for an Employee Payroll System that allows employees to log the number of hours completed in a work period and then generate their pay.

Answers

idk well
i’m just
ok
pls

Also I do agree with that

Rayya Co. purchases a machine for $159,600 on January 1, 2019. Straight-line depreciation is taken each year for four years assuming a eight-year life and no salvage value. The machine is sold on July 1, 2023, during its fifth year of service.Prepare entries to record the partial year’s depreciation on July 1, 2023, and to record the sale under each seperate situation. (1) The machine is sold for $79,800 cash. (2) The machine is sold for $67,032 cash.

Answers

Solution and Explanation:

Depreciation expense is calculated as follows:

Depreciation expense = Cost of machine minus residul value divide useful life of asset

= (159600 - 0) / 8 = 19950

Thus, annual depreciation expense is $19950

Partial year depreciation expense = Anuual depreciation multiply period

= 19950 mulitply 0.5 = $9975

Thus, partial depreciation expense for the 01st january 2023 to July 1, 2023 is $9975

the jorunal entry is as follows:

Depreciation account Dr. 9975 ($)

Accumulated depreciation Cr. 9975 ($)

1. if machine is sold for $79800 cash

Cash 79800

Accumulated depreciation 89775

gain on sale of machinery 9975

Machinery 159600

2. If machine is sold for $67032

Cash 67032

Accumulated depreciation 89775

loss on sale of machinery 2793

Machinery 159600

A. Explain the role labor’s productivity plays in wage determination in the competitive labor market. If productivity increases, what happens to wages and why? b. What is meant by the term "compensating wage differentials?"
c. Why is the demand for labor called a "derived demand."

Answers

Answer:

(A)Wages decrease in the long term

Explanation:

(A) The principles of supply and demand applies here.

Higher worker productivity in a particular industry implies increased demand for workers in the industry (short term effect).

Increased supply of workers implies:

1. output per worker increases, resulting in increase in supply of products in the industry. But, the laws of supply and demand comes in, because when supply increases, prices decrease.

That is, the increase in worker productivity may cause a decrease in prices resulting in a decrease in wages since the firm's revenue declined (long term effect).

2. Increase in the supply of workers in the industry with increased in productivity over workers from other industry because of initial increase in wages. This would lead to a decrease in wages because the supply of workers would exceed demand.

(B) The compensation differential is the additional amount of money that a given worker must be offered in order to motivate him to accept a given undesirable job, relative to other jobs that the worker could perform.

For example, when consumers want more of a particular good or service eg clothing, more firms in the industry will want workers that make this product.

Almost overnight, several police officers, all members of the police force of the growing suburb of mayberry, called in sick. as the dispatcher took those calls, one right after the other, she speculated that there could be more to this story than she was hearing. in fact, she thought it might be related to the emotional banter she heard the night before in the locker room as several members of the force were leaving their shifts. the group was not happy with the recent changes in scheduling, the excessive overtime hours, and, management's reluctance to begin negotiations on a new benefits package. she heard one officer saying, "it's time for a mental health day!" although it is illegal for police to strike, what the police dispatcher was witnessing may have been ______.

Answers

What the police dispatcher was witnessing may have been "a blue flue".

A blue flu is an informal term used to portray a sort of strike activity embraced by cops in which an expansive number simultaneously utilize sick leave. A blue flue is a strike activity by police in a few sections of the US where police strikes are denied by law.

Answer:

The correct answer is: a Blue Flu.

Explanation:

A Blue Flu is the act by which police officers call in sick leaves massively as a form of protest against labor conditions. This action is carried out because law enforcement deputies in most parts of the United States are not allowed to go on a strike by law.

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In the late 1930s management at Atalanta Industries agreed to hire only those workers who were already members of the Electrical Union. Atlanta agreed to a type of arrangement known as a(n)

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