Answer:
1) Marwick's Pianos Inc.
Income Statement
For the month ended August 202x
Total sales revenue $182,700
Cost of goods sold ($93,744)
Gross profit $88,956
Administrative expenses:Executive salaries ($13,566)Clerical salaries ($4,748)Depreciation office equipment ($900)Utilities ($650) ($19,864)Sales expenses:
Sales salaries and commissions ($10,280)Delivery expense ($3,780)Advertising ($942)Depreciation of sales facilities ($4,945) ($19,947)Operating income $49,145
2) Marwick's Pianos Inc.
Income Statement
For the month ended August 202x
Total sales revenue $182,700
Variable costs:
Pianos ($93,744)Sales commissions ($5,481)Clerical commissions ($2,268)Delivery expense ($3,780) ($105,273)Contribution margin $77,427
Period costs:
Executive salaries ($13,566)Clerical salaries ($2,480) Sales and commissions ($4,799)Advertising ($942)Depreciation expense ($5,845)Utilities expense ($650) ($28,282)Operating income $49,145
Explanation:
cost of a piano = $1,488
selling price per piano = $2,900
advertising $942 per month
sales and commissions $4,799 + 3% commissions on sales
delivery of pianos = $60 per piano
utilities expense = $650
depreciation expense = $4,945
executive salaries = $13,566
clerical salaries = $2,480 + $36 per piano
depreciation = $900
63 pianos sold during August
cost of goods sold = $1,488 x 63 = $93,744
total sales revenue = $2,900 x 63 = $182,700
sales commissions = $5,481
clerical commissions = $2,268
When Zipcar’s Chairman and CEO Scott Griffith, discusses scaling, planning, market size, potential for cities, and reliable technology as a way of a better way to share cars, he is really focusing on the long-term survival and success of the company. This is indicative of the company’s recognition of what concept?
Answer:
C. sustainability
Explanation:
Since in the question it is mentioned that the Chairman and CEO really wants to focused on survival for a long term and the success of the company so here the company would recognize the Sustainability concept as it deals with how the company sustain that could be done in terms of proper planning through which there is a best use for the resources that are minimum
Therefore, the correct option is C.
If a company is considering the purchase of a parcel of land that was acquired by the seller for $101,000 is offered for sale at $182,000, is assessed for tax purposes at $111,000, is considered by the purchaser as easily being worth $172,000, and is purchased for $169,000, the land should be recorded in the purchaser's books at:
Answer:
$169,000
Explanation:
Based on the information given we were been told that in a situation were a land which was acquired by the seller for the amount of $100,000 was been purchased at the amount of $169,000 which simply means that the land should be recorded in the purchaser's books at the amount of $169,000 which is the costs or amount in which the land was PURCHASED by the company.
Lauren Clark works for a pottery shop. She works 40-hour weeks (5 days) and gets paid $25 per hour. If she exceeds her normal 40 hours, she gets paid time and a half. On the first week of the year, she worked a total of 38 hours but got paid 46 hours because the 1st day of the year the pottery shop was closed but she still got paid for the day. The following 4 days, she had 1.5 hours of overtime per day. How much of her pay would be considered direct labor
Answer:
D. $950; 425
Explanation:
Remember, direct labor refers to the actual time spent on working such as using machinery, performing tasks that leads to the production of products or services. Indirect labor involves time activites that do not involve any production of products or services.
First, direct pay:
38 hours of work x $25 = $950$950
Indirect pay;
8 hours from the 46 hours she was paid (8 x $25) = $200For 4 days she had 1.5 hours of overtime per day (4 x 1.5 x 37.5) = $225.Total = $425
Note: by saying if she exceeds her normal 40 hours, she gets paid time and a half implies 1.5 * $25 ($37.5)
Jones and Johnson, a law firm, is expanding to incorporate three conference rooms and two executive waiting lounges in its office. Which of the following dimensions of servicescape is the firm addressing? a. Ambient conditions b. Market deployment and evaluation c. Spatial layout and functionality d. Signs, symbols, and artifacts
Answer:
C)Spatial layout and functionality
Explanation:
from the question, we are informed that Jones and Johnson, which is a law firm, is expanding to incorporate three conference rooms and two executive waiting lounges in its office.
In this case, the dimensions of servicescape that the firm is addressing "Spatial layout and functionality"
Spatial layout and functionality reffered to the way the counters, the machinery as well are been set up. The functionality of it bring about high performance, so as the law firm incorporate three conference rooms it speak about the spatial layout.
Which method is used to compute depletion?a. Double-declining-balance methodb. Straight-line methodc. Depletion methodd. Units-of-production method
Answer:
d. Units-of-production method
Explanation:
For computing the depletion method, the units of production method is to be used as the straight line method, double declining method are to used for depreciating the fixed assets not for depleting the assets
The units of production method could be used for the depleting the natural resources like mines, etc
So, the correct option is d.
Flannigan Company manufactures and sells a single product that sells for $320 per unit; variable costs are $176. Annual fixed costs are $927,000. Current sales volume is $4,260,000. Flannigan Company management targets an annual pre-tax income of $1,185,000. Compute the dollar sales to earn the target pre-tax net income.
Answer:
Break-even point (dollars)= $4,693,333.33
Explanation:
Giving the following information:
Selling price= $320 per unit
Unitary variable costs= $176
Annual fixed costs= $927,000
Desired profit= $1,185,000
To calculate the sales in dollars required, we need to use the break-even point in dollars formula:
Break-even point (dollars)= (fixed costs + desired profit) / contribution margin ratio
Break-even point (dollars)= (927,000 + 1,185,000) / [(320-176) / 320]
Break-even point (dollars)= 2,112,000 / 0.45
Break-even point (dollars)= $4,693,333.33
Your strengths represent the best you have to offer in ______ others.a) controlling.
b) influencing.
c) manipulating.d) controlling and manipulating.
What will happen to the U.S. Housing Market?
Answer:
Currently the price of homes has exceeded the 2006 peak, just before the housing bubble burst. The price index has increased more than 40% since 2012.
It has been many years now of a strong economy, with an economic expansion lasting for 11 years (since June 2009), which is actually record breaking. A lot of economists were expecting a recession soon, with the current health crisis not helping, and the recession finally arrived on June 2020.
The combination of historically high prices for homes and an economic recession can be very hurtful. The advantage of the current situation is that the level of delinquent or subprime mortgages is currently much lower than 14 years ago. Actually, the amount of debt per household has decreased since 2006, and is quite stable right now at moderate or low levels. Many households spent much of the past years paying off debt, so they didn't have time to take new debt.
If the recession gets worse, a price correction will be inevitable, but it wouldn't be as large as the 2007 decrease. Only in a few cities in California, Washington, Nevada and Oregon can you find situations similar to 2006, where a strong supply hasn't been enough to balance the prices due to a stronger demand and high mortgage debt. But even there, the situation will not be as bad.
Identify whether a debit or credit yields the indicated change for each of the following accounts %
a. To increase Prepaid Rent
b. To decrease Prepaid Parking
c. To increase Repairs Expense
d. To increase Commission Revenue
e. To decrease Rent Payable
f. To decrease Supplies
g. To increase Unearned Revenue
h. To decrease Equipment
i. To increase Retained Eamings
j. To increase Store Supplies
Answer:
a. To increase Prepaid Rent ⇒ DEBIT, since this is an asset account, in order to increase it you must debit it.
b. To decrease Prepaid Parking ⇒ CREDIT, since this is an asset account, in order to decrease it you must credit it.
c. To increase Repairs Expense ⇒ DEBIT, since this is an expense account, in order to increase it you must debit it.
d. To increase Commission Revenue ⇒ CREDIT, since this is a revenue account, in order to increase it you must credit it.
e. To decrease Rent Payable ⇒ DEBIT, since this is a liability account, in order to decrease it you must debit it.
f. To decrease Supplies ⇒ CREDIT, since this is an asset account, in order to decrease it you must credit it.
g. To increase Unearned Revenue ⇒ CREDIT, since this is a liability account, in order to increase it you must credit it.
h. To decrease Equipment ⇒ DEBIT, since this is an asset account, in order to increase it you must debit it.
i. To increase Retained Earnings ⇒ CREDIT, since this is an equity account, in order to increase it you must credit it.
j. To increase Store Supplies ⇒ DEBIT, since this is an asset account, in order to increase it you must debit it.
Pineapple International uses a job order costing system. Pineapple's accounting manager estimated that direct labor would be $2,990,000 (230,000 hours at $13/hour) and that factory overhead would be $1,530,000 for the current period. At the end of the period, 210,000 hours of direct labor and $1,230,000 of actual overhead costs were recorded. Determine the predetermined overhead rate using direct labor hours as a base. (Round your answer to two decimal places.) g
Answer:
$6.65 per hour
Explanation:
We can determine the predetermined overhead rate by
Estimated factory overhead cost / Estimated number of direct labor hours.
Estimated factory overhead cost = $1,530,000
Estimated number of direct labor hours = 230,000 hours
= $1,530,000 / 230,000
= $6.65 per hour
Predetermined overhead rate is $6.65 per hour
Why is the global health organization important?
The World Health Organization (WHO) plays an essential role in the global governance of health and disease; due to its core global functions of establishing, monitoring and enforcing international norms and standards, and coordinating multiple actors toward common goals.
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Choose the example that is punctuated correctly. Each of the members on the panel was handed a copy of the 30-page proposal. Each of the members of the panel were handed a copy of the 30-page proposal. Each of the members of the panel was handed a copy of the thirty-page proposal. Choose the word that correctly completes the sentence.
Answer: Each of the members on the panel was handed a copy of the 30-page proposal.
Explanation:
The pronoun each is an infinite pronoun as it does not refer to a specific person but still includes all of them. As it is a singular pronoun, it would need to be matched by a singular verb being was instead of were which is a plural verb.
Also, with numbers, it is a general rule that when the number is between one and ten it would be best to write it as a word. When the number is above 11 however, it would be best to write it as numerals. The correctly punctuated example is therefore the first one.
A small company wishes to set up a fund that can be used for technology purchases over the next 6years.Their forecast is for $24,000 to be needed at the end of year1,decreasing by $2,000 each year there after.The fund earns 15 percent peryear.Howmuch money must be deposited to the fund at the end of year 0 to just deplete the fund after the last withdrawal
Answer:
The company should deposit $74,954.02
Explanation:
We have an annuity with a variable installment with arithmetic progression.
[tex](a_1+\frac{d}{r} +d \times n) \times \frac{1-(1+r)^{-time} }{rate} - \frac{d \times n}{r}[/tex]
We plug our values:
C = 24,000
r = -2,000
r = 0.15
n = 6
And we get a PV of 74,954.02
We can build the table to verify:
Beginning Interest Tech payment Endng
1 74,954.02 11,243.11 24,000.00 62,197.14
2 62,197.14 9,329.58 22,000.00 49,526.72
3 49,526.72 7,429.01 20,000.00 36,955.73
4 36,955.73 5,543.36 18,000.00 24,499.09
5 24,499.09 3,674.87 16,000.00 12,173.96
6 12,173.96 1,826.10 14,000.00 0.06
(there is a 6 cent mistake due to rounding but without it It will be zero-out)
Assume that you manage a risky portfolio with an expected rate of return of 17% and a standard deviation of 27%. The T-bill rate is 7%. Your client chooses to invest 70% of a portfolio in your fund and 30% in a T-bill money market fund. What is the expected return and standard deviation of your client's portfolio
Answer:
Expected return = 14%Standard Deviation = 18.9%Explanation:
Expected Return will be the weighted average of the return from the T-bill and your risky portfolio.
With 70% invested in the risky portfolio and 30% invested in T-bills and a return of 17% from the portfolio and 7% from the T-bills, return is;
= ( 0.7 * 17%) + ( 0.3 * 7%)
= 14%
Standard deviation is a measure of risk and is also a weighted average of the standard deviation of the two vehicles. Bear in mind that T-bills are guaranteed by the US Government and so are considered risk-free.
Standard deviation of the portfolio is;
= (0.7 * 27%) + ( 0.3 * 0)
= 18.9%
A local pharmaceutical firm of Pakistan has decided to restructure its end to end process as per the quality standards of DRAP (Drug Regulatory authority of Pakistan). The management is keen to implement Quality Management organization wide. You are asked to analyze the entire transformation. • Employee involvement and its benefits • The role of the top management in enforcing quality management • Guidelines of quality costing system ensuring no damages • Requirement for ISO certification
Answer:
The restructure of the local pharmaceutical firm will cause a great change which is discussed below
Please mark brainliest
Explanation:
The restructure of the local pharmaceutical firm will cause a great change which is discussed below:
Employee involvement and its benefits:
The employees will be greatly involved in the restructure as they will be required to take more precautions while preparing or carrying the medicines, the employees involved in the procedure will be provided with a better health.
The role of the top management in enforcing quality management
The top management will play a vital role in the restructure of the firm because they are responsible for managing its employees and they will be the one imposing all the strict rules which will be required to be followed by the firm.
Guidelines of quality costing system ensuring no damages
This restructure will effect the finance department as well in a way to calculate the cost of the quality measures which will be taken, the operating cost is likely to be increased.
Requirement for ISO certification
The firm will have to get an ISO certificate which will be the proof that the firm follows proper safety measures, the certificate will be provided upon careful investigation of the firm by ISO.
Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year. At the end of the year, retiree benefits paid by the trustee were $28 million and cash invested in the pension fund was $32 million. What was the percentage rate of return on plan assets
Answer: 4%
Explanation:
From the question, we are informed that Pension plan assets were $1,200 million at the beginning of the year and $1,252 million at the end of the year and that at the end of the year, retiree benefits paid by the trustee were $28 million and cash invested in the pension fund was $32 million.
Based on the above scenario, the percentage rate of return on plan assets goes thus:
Opening balance of plan assets 1200
Add:- Actual return = 48
Add:- contributions = 32
Less :- retiree benefits = -28
Closing balance of plan assets = 1252
It should be noted that the actual return is the balancing figure which is calculated as:
= 1252 + 28 - 1200 - 32
= 48
The percentage rate of return on plan assets will now be:
= 48/1200
=0.04
= 4%
Consider the following cost structures for three oil producers: Fossils R Us Green House Oils Shale Ale Plant and property $900,000 $1,500,000 $1,000,000 Extraction costs (per barrel) $45 $31 $40 Capacity per day 100,000 barrels 140,000 barrels 80,000 barrels If the price for a barrel of oil is currently $42, what is the amount of barrels produced by these suppliers?
Answer:
220,000 barrels per day
Explanation:
Fossils R Us Green House Oils Shale Ale
Plant and property $900,000 $1,500,000 $1,000,000
Extraction costs $45 $31 $40
(per barrel)
Capacity per day 100,000 barrels 140,000 barrels 80,000 barrels
In the short run, companies will continue to operate as long as the selling price is higher than the variable production costs, i.e. marginal revenue ≥ marginal costs. In this case, if the price of oil is $42 per barrel, only Green House Oils and Shale Ale will continue to operate since their production costs are lower than the selling price. Total production = 140,000 + 80,000 = 220,000 barrels
Carter Pearson is a partner in Event Promoters. His beginning partnership capital balance for the current year is $55,700, and his ending partnership capital balance for the current year is $62,700. His share of this year's partnership income was $5,950. What is his partner return on equity
Answer:
10.05%
Explanation:
Carter Pearson is a partner in event promoters
His beginning partnership balance is $55,700
His ending partnership balance is $62,700
His share of this year's partnership income is $5,950
Therefore his partner return on equity can be calculated as follows
= $5,950/$55,700+$62,700/2
= $5,950/$59,200
= 0.10050 × 100
= 10.05%
Hence his partner return on equity is 10.05%
What is the history of cheating in heating oil companies?
Answer:
The classification of the particular topic is listed throughout the overview section below.
Explanation:
Cold-heated oil and gas company execs and motorists had already robbed schools, law enforcement stations, medical campuses, mosques, homeless shelters, fire departments, residential buildings all over the area, representatives told reporters Tuesday. The corporations have collected millions and billions of dollars from the pockets of city employees, utilizing elaborate frauds to attract short consumers, attorneys said.Are the following events recorded in the accounting records? Explain your answer in each case. (a) The owner of the company dies. (b) Supplies are purchased on account. (c) An employee is fired. (d) The owner of the business withdraws cash from the business for personal use. g
Answer:
(a) The owner of the company dies.
This event is not recorded in the accounting records. If the company is a sole-proprietorship, the death of the owner simply causes the end of the firm. If the firm is a corporation, it can continue to operate even if the owner dies, ownership can be transferred.
(b) Supplies are purchased on account.
This event is recorded. Supplies are an asset, and are debited, and because they are purchased on account, the associated liability account is credited.
(c) An employee is fired.
This event is not recorded. Consequences of the firing may be recorded, for example, an indemnization that reduces cash.
(d) The owner of the business withdraws cash from the business for personal use.
This event is recorded. The cash account is debited (decreased), and the personal expenses, or non-operating expenses account is increased.
A portfolio of non-dividend-paying stocks earned a geometric mean return of 5% between January 1, 2010, and December 31, 2016. The arithmetic mean return for the same period was 6%. If the market value of the portfolio at the beginning of 2010 was $100,000,what was the market value of the portfolio at the end of 2016
Answer: $140710
Explanation:
From the question, we are informed that the portfolio of non-dividend-paying stocks earned a geometric mean return of 5% between January 1, 2010, and December 31, 2016 and that the arithmetic mean return for the same period was 6%.
If the market value of the portfolio at the beginning of 2010 was $100,000, the market value of the portfolio at the end of 2016 will be calculated as:
= $100,000 × (1 + 5%)^7
= $140,710
Which best ranks Agriculture, Food, and Natural Resources careers from highest to lowest required degree?
O Veterinarian - Nursery Manager - Environmental Engineer - Landscaper
O Landscaper - Environmental Engineer - Nursery Manager - Veterinarian
O Landscaper - Nursery Manager Environmental Engineer – Veterinarian
O Veterinarian - Environmental Engineer - Nursery Manager - Landscaper
Answer:
the answer is d
Explanation:
The best ranks in Agriculture, Food, and Natural Resources careers from highest to lowest required degree is Veterinarian - Environmental Engineer - Nursery Manager - Landscaper. Thus the correct option is D.
What is a Career?A career is referred to what an individual chooses as a profession to earn something. A career of an individual is based on his talents, skills, and abilities which help him to seek growth and development and achieve the goals of life.
A Veterinarian is referred to as an individual who has the expertise to treat animals. These are referred to as professionals who diagnose diseases and provide adequate treatment based on the diagnosis.
Animals are managed manually by the majority of veterinarians in hospital locations as tools and resources are available there. These veterinarians might perform general medicine, providing care for various species of animals.
Therefore, option D is appropriate.
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Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 14,000 Selling price per unit $ 16 Variable selling expense per unit $ 2 Variable administrative expense per unit $ 2 Total fixed selling expense $ 18,000 Total fixed administrative expense $ 16,000 Beginning merchandise inventory $ 11,000 Ending merchandise inventory $ 23,000 Merchandise purchases $ 85,000 Required:
1. Prepare a traditional income statement.
2. Prepare a contribution format income statement.
Answer:
Results are below.
Explanation:
First, we need to calculate the cost of goods sold:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 11,000 + 85,000 - 23,000= $73,000
Traditional format Income Statement:
Sales= 14,000*16= 224,000
COGS= (73,000)
Gross profit= 151,000
Total selling expense= (2*14,000 + 18,000)= (46,000)
Total administrative expense= (2*14,000 + 16,000)= (44,000)
net operating income= 61,000
Contribution format income statement:
Sales= 14,000*16= 224,000
Total variable cost= (73,000 + 2*14,000 + 2*14,000)= (129,000)
Contribution margin= 95,000
Total fixed selling expense= (18,000)
Total fixed administrative expense= (16,000)
Net operating income= 61,000
Which element of informed consent is not required?
Answer:
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Explanation:
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Shore Company reports the following information regarding its production cost:Units produced 38,000 units
Direct labor $28.00 per unit
Direct materials $29.00 per unit
Variable overhead $760,000 in total
Fixed overhead $136,420 in total
Compute production cost per unit under absorption costing.
Answer:
Production cost per unit $80.59
Explanation:
The computation of the production cost per unit using absorption costing is shown below:
Direct labor per unit $28
Direct material per unit $29
Variable overhead per unit $20 ($760,000 ÷ 38,000 units)
Fixed overhead per unit $3.59 ($136,420 ÷ 38,000 units)
Production cost per unit $80.59
We simply added all the cost per unit so that the production cost per unit could come
Managing risks refers to identifying any possible
process for
and evaluating risks.
events and taking steps to reduce them. Risk management is a continuous
Reset
Next
Answer:
Uncertain is the first blank and identifying is the second blank
Explanation:
I searched it on a business management website and it worked for Plato
The supply of seats for an economics class at 10 a.m. is the same as the supply of seats for the same class at noon. Every student who wants to attend this class at noon can, but there is a shortage of seats in the 10 a.m. class. If tuition does not vary by time of day, it follows that the demand for the 10 a.m. class is __________ the demand for the noon class.
Answer:
The answer is "greater then"
Explanation:
It supplies the economic seat at 10 a.m. or afternoon is identical. It implies sufficient seating resources were able to meet demands around midday, and not enough seating was available to meet that request at 10 a.m.
It remembers at 10 a.m and even at noon, there are many similar amounts of tickets, which implies that a 10 a.m. class prices are higher than the noon class requirement.
Both wages and employment can increase at the same time as long as the:____________
Answer:
supply of labor is lower than the demand
Explanation:
Consider for example a country is in need of Doctors, and the number of available doctors is quite low than the demand; such that hospitals wanting to increase their capacity begin to offer higher wages in other to employ available doctors. This evidently will in the short run lead to an increase in wages and employment for new doctors.
he following cost data pertain to the operations of Brentwood Department Stores, Inc., for the month of May: Corporate legal office salaries $ 69,000 Shoe Department cost of sales-Brentwood Store $ 87,000 Corporate headquarters building lease $ 86,000 Store manager's salary-Brentwood Store $ 14,700 Shoe Department sales commissions-Brentwood Store $ 8,700 Store utilities-Brentwood Store $ 13,700 Shoe Department manager's salary-Brentwood Store $ 4,700 Central warehouse lease cost $ 11,700 Janitorial costs-Brentwood Store $ 11,700 The Brentwood Store is just one of many stores owned and operated by the company. The Shoe Department is one of many departments at the Brentwood Store. The central warehouse serves all of the company's stores. What is the total amount of the costs listed above that are NOT direct costs of the Brentwood Store
Answer:
The total amount of the costs listed above that are NOT direct costs of the Brent-wood Store is $166,700
Explanation:
The total amount of the costs listed above that are NOT direct costs of the Brent-wood Store is as listed below:
Details Amount
Corporate Legal Office Salaries $69,000
Corporate Headquarters Building lease $86,000
Central Warehouse lease cost $11,700
Total non-direct cost of the store $166,700
An advertising agency in Mexico City represents a wide range of accounts. It depicts real Mexicans enjoying everyday life. The agency does not offer assistance to clients who want to reach international markets. From this information, you can surmise that the agency is a(n) _____ agency. A. business-to-business B. transnational C. regional D. in-house E. creative boutique
Answer:
C. regional
Explanation:
The advertising agency described in the question is said to do business with several companies in Mexico City. The agency has clear skills and know-how that cater to the Mexican public.
However, the agency does not do any business with international companies, meaning that the agency is strictly regional in scope.