BUSINESS COLLEGE

The accounts of Melissa Manufacturing showed the following balances at the beginning of​ December: Account Debit Raw Materials Inventory $ 56 comma 000 WorkminusinminusProcess Inventory 81 comma 000 Finished Goods Inventory 30 comma 000 Manufacturing Overhead 22 comma 000 The following transactions took place during the​ month: December​ 2: Issued direct materials $ 27 comma 000 and indirect materials $ 7 comma 000 to production. December​ 15: Incurred $ 7 comma 000 and $ 2 comma 000 toward​ factory's direct labor cost and indirect labor​ cost, respectively. What should be the balance in the WorkminusinminusProcess Inventory following these​ transactions?

Answers

Answer 1
Answer:

Answer:

$115,000

Explanation:

Data provided as per the question is below:-

Beginning balance = $81,000

Direct material issued = $27,000

Direct labor incurred = $7,000

The computation balance Process Inventory is shown below:-

Balance in the​ Work-in-Process Inventory = Beginning balance + Direct material issued + Direct labor incurred

= $81,000 + $27,000 + $7,000

= $115,000

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Walters Audio Visual, Inc., offers a stock option plan to its regional managers. On January 1, 2016, options were granted for 40 million $1 par common shares. The exercise price is the market price on the grant date, $8 per share. Options cannot be exercised prior to January 1, 2018, and expire December 31, 2022. The fair value of the options, estimated by an appropriate option pricing model, is $2 per option. Because the plan does not qualify as an incentive plan, Walters will receive a tax deduction upon exercise of the options equal to the excess of the market price at exercise over the exercise price. The income tax rate is 40%.Required: 1. Determine the total compensation cost pertaining to the stock option plan. (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)

2. Prepare the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

1. Record compensation expense on December 31, 2016.

2. Record any tax effect related to compensation expense recorded in 2016.

3. Record compensation expense on December 31, 2017.

4. Record any tax effect related to compensation expense recorded in 2017.

5. Record the exercise of the options on March 20, 2021 when the market price is $12 per share.

6. Record any tax effect related to the exercise of the options.

Answers

Answer:

Explanation:

1. Determine the total compensation cost pertaining to the stock option plan:-

Estimated fair value per option $2

X Option granted                        40 million

Total compensation                 $ 80 million

One year ago, a U.S. investor converted dollars to yen and purchased 100 shares of Nardasausau stock in a Japanese company at a price of 3,150 yen per share. The total purchasing cost was 315,000 yen. At the time of purchase, in the currency market 1 yen equaled $0.00952. Today, Nardasausau stock is selling at a price of 3,465 yen per share, and in the currency market $1 equals 130 yen. The stock does not pay a dividend. If the investor were to sell the stock today and convert the proceeds back to dollars, what would be his realized return on his initial dollar investment from holding Nardasausau stock?

Answers

Answer:

$242.31

Explanation:

Purchasing cost of 100 shares a year ago = 315,000 yen

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On January 1, Song Corp. receives a $100,000, two-year, note receivable from a customer in exchange for payment of goods. The note has a 12% effective interest rate. On December 31, when Song records interest for the year, Song will record

Answers

Answer:

$9,566.33  

Explanation:

We need to determine the present value of the notes receivable using the pv excel function below:

=-pv(rate,nper,pmt,fv)

rate is the interest rate of 12%

nper is the number of years before the amount on the note is received which is 2 years

pmt is the amount of fixed interest(there is no fixed interest in this case)

fv is the future value of the loan in year 2 i.e $100,000

=-pv(12%,2,0,100000)=$79,719.39  

Now,after a year 12% interest is applied to the pv:

interest=$79,719.39 *12%=$9,566.33  

endrik is in charge of his company’s subsidiary in Beijing. He recently received a large bonus check because the subsidiary had exceeded sales expectations by 25 percent. What aspect of organizational architecture did Kendrik benefit from? Multiple Choice processes incentives forecasts norms

Answers

Answer: Incentives

Explanation:

Incentive Fees which can also be known as Performance Fees are an ADDITIONAL form.of compensation that are tied to an Employee's salary based on their level of performance or more specifically, their level of Financial return.

They can be calculated in various ways but the main goal is to encourage the employee to keep up the good work.

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B) False

Answers

Answer:

The correct answer is letter "A": True.

Explanation:

Goals represent the objectives companies set that must be achieved within a specified period of time. Goals represent what firms want to achieve and where they want to be positioned in the market. Goals have the characteristic of being measurable, which means entities can monitor the progress of the path of reaching a goal and observable, which implies they are realizable.

Final answer:

The statement is true. A 'goal' represents a commitment to a specific, measurable outcome to be achieved within a defined time frame; this concept is often referred to as SMART goals.

Explanation:

The statement 'A goal is a specific commitment to achieve a measurable result within a stated period of time' is indeed true. Also known as SMART goals, this concept is frequently used in business and personal development contexts. The SMART acronym stands for Specific, Measurable, Achievable, Relevant, and Time-based, which succinctly sums up the essential elements of an effective goal. For example, a student might set a goal to 'Achieve an A grade in history this semester,' which is specific, measurable, presumably achievable, relevant to their academic success, and time-bound by the length of the semester.

Learn more about Goal Setting here:

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Assume the total cost of a college education will be $200,000 when your child enters college in 16 years. You presently have $73,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?

Answers

Answer:

6.5017%

Explanation:

Given that,

Total cost of a college education when your child enters college in 16 years, Future value = $200,000

Amount today to invest, present value = $73,000

Time period = 16 years

Therefore,

Annual rate of interest:

FV=PV(1+r)^(t)

200,000=73,000(1+r)^(16)

r =((200,000)/(73,000))^{(1)/(16)}-1

r = 6.5017%

Therefore, the annual rate of interest you must earn on your investment to cover the cost of your child’s college education is 6.5017%.
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