a. ∘ A company's sales are 5% in cash and 95% on credit. - 75% percent of credit sales are collected in the same month the sale occurred, 5% the month following the sale, and 20% in the second month following the sale. - Budgeted sales are expected to be $70,000 in January, $20,000 in February, $70,000 in March, and $85,000 in April. Calculate the budgeted total cash receipts in April. b. A company has budgeted production in units as follows: - 8 kilograms of raw materials are needed for each unit produced. - The company had 5,000 kilograms of raw materials at the start of the year. - Raw materials inventory at the end of each quarter is equal to 20% of the next quarter's production needs. Calculate the budgeted purchases of raw materials in the second quarter. ( 2 marks) c. A company budgeted to produce 75,000 units in October. The finished goods inventory on October 1 and October 31 were budgeted at 9,000 and 3,000 units, respectively. Each unit requires 0.5 hours of labour and the company pays an hourly rate of $19 per hour. Calculate the budgeted direct labour costs incurred in October.
Answers
a. The budgeted total cash receipts in April are **$87,200**.
To calculate the cash receipts, we need to consider the different collection periods for credit sales. For January sales, 75% ($70,000 * 95% * 75%) is collected in the same month, which is $49,875. For February sales, 5% ($20,000 * 95% * 5%) is collected in the following month, which is $950. For March sales, 20% ($70,000 * 95% * 20%) is collected in the second month following the sale, which is $26,600. Lastly, for April sales, 100% ($85,000 * 95%) is collected in the same month, which is $80,750.
Adding up these amounts, the budgeted total cash receipts in April is $49,875 + $950 + $26,600 + $80,750 = $**87,200**.
b. The budgeted purchases of raw materials in the second quarter are **17,200 kilograms**.
To calculate the budgeted purchases, we need to determine the raw material needs for each quarter and consider the 20% inventory at the end of each quarter.
In the first quarter, the production needs are unknown, so we skip that. In the second quarter, the production needs are 8,000 units (quarterly production), which requires 64,000 kilograms (8,000 units * 8 kilograms per unit). Adding 20% inventory, the total raw material needs for the second quarter are 76,800 kilograms (64,000 kilograms * 1.2).
Since the company had 5,000 kilograms of raw materials at the start of the year, the budgeted purchases for the second quarter are 71,800 kilograms (76,800 kilograms - 5,000 kilograms) or **17,200 kilograms** more than the beginning inventory.
c. The budgeted direct labor costs incurred in October are **$712,500**.
To calculate the budgeted direct labor costs, we need to multiply the number of units produced by the labor requirements per unit and the hourly labor rate.
In October, the company budgeted to produce 75,000 units. Each unit requires 0.5 hours of labor. Multiplying these, we get 37,500 labor hours (75,000 units * 0.5 hours per unit).
Considering the hourly rate of $19, the budgeted direct labor costs incurred in October are $712,500 (37,500 labor hours * $19 per hour) or **$712,500**.
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Related Questions
If the cost of production decreases for Tesla’s cars, what effect will this have on consumers who want to buy one???
Answers
Answer:
The consumers will pay more.
Explanation:
Should the production cost increase, the price of Tesla cars is also likely to increase. Typically, producers are likely to pass the increased costs to the cars' final price. The market price for the cars will go up, meaning customers will pay more for the cars.
Ruth is conducting a marketing/sales event. She indicates that attendees are welcome to take a promotional item if they wish, even if they do not enroll. The value of all giveaways does not exceed $15 per person. Did Ruth violate any marketing/sales event guidelines
Answers
Ruth does not violate any marketing or sales event guidelines.
Marketing or sales event guidelines refer to the rules and regulations implemented to ensure an ethical and professional level of conducting business. Such guidelines may also provide certain rules that one must adhere to, to ensure nothing is done illegally.
Guidelines are given or made as Code of Ethics wherein each company or have their own set of rules to be followed by the employees. In the given scenario, Ruth is conducting a marketing or sales event that involves giveaways. In her case, the giveaway is a promotional item below $15 per person. Per the guidelines, Ruth is allowed to let the attendees take the promotional item as long as the nominal retail value does not exceed $15 per person.Providing a promotional item during a marketing/sales event is legal and allowed as long as the item or service provided does not exceed the $15 per person. Thus, Ruth does not violate any event guidelines.
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can someone please help me with this question?
Answers
Answer:
We can first assess the effects of each of the transactions on the balance cheat.
the a) transaction will reduce cash by $500, and reduce creditors by the same amount.
the b) transaction will increase cash by $300, and reduce debtors by the same amount.
the c) transaction will reduce cash by $1,000, and reduce the Loan from L. Stennett by the same amount.
Now we can list this effects.
Cash is reduced by $500 + $1,500 and increased by $300. The total net effect on cash is then a $1,200 decrease ($1,500 decrease + $300 increase).
All the other accounts have only one reduction, so we simply substract that figure from the balance sheet on the picture to obtain our new figures.
Now we can write the new balance sheet
Balance Sheet as at 10 April 2007
Assets
Buildings $6,000
Motor Vehicle $4,000
Stock of Goods $2,000
Debtors $2,500 (-$300)
Cash at bank $2,000 (-$1,200)
Total Assets $16,500
Liabilities
Loan L. Stennet $1,000 (-$1,000)
Creditors $1,100 (-$500)
Total Liabilities $2,100
Capital $14,400
By the accounting equation, Capital + Liabilities = Assets, we see that it holds true: $14,400 + $2,100 = $16,500, so are figures are right.
We best learn from other people's struggles, successes, and stories.
True
O False
Answers
Answer:
true bhe
Explanation:
syempre natututo rin tayo sa mga pagkakamali ng iba dahil sa pagkatuto natin alam na natin yung gagawin natin para maiwasan ang pagkakamali nila.
Answer:
true
Explanation:
Chin needs more money in his net pay each month so he plans to reduce his federal income tax deduction from 12% to only 11% his monthly gross pay is $3500 in his deductions before they change a list in the table what will be his new monthly net pay round your answer to the nearest dollar
Answers
Answer:
$2891
From online search: The table and multiple-choice answers to this questions are as below
The table
Deduction Dollar Amount
Federal Income Tax $420
State Income Tax $95
Social Security $89
Medicare $40
multiple-choice answers
$2821
$2857
$2860
$2891
Explanation:
Chin wants to reduce the federal income tax deduction from 12% to only 11% .
The new federal income tax will be
=11% of $3500
=11/100 x 3500
=0.11 x 3500
=385.
Total deductions will be as follows
Federal Income Tax $385
State Income Tax $95
Social Security $89
Medicare $40
Total= $609
The new net income
= $3500 - $609
=$2,891
Answer:
so D thx
Explanation:
Another reason fueling the boom in fast-growing technology services is _____, which, when done right, can virally spread awareness of a firm with nary a dime of conventional ad spending.
Answers
Available options are:
A. Esako and M-Pesa
B. Big data and Business analytics
C. Social media
D. Sproxil
Answer:
Social media
Explanation:
Social media is an internet-based or online platform that allows different registered users to share various forms of information and content, among other users, from anywhere across the globe.
Hence, given the available options, Another reason that is fueling the boom in fast-growing technology services is SOCIAL MEDIA, which, when done right, can virally spread awareness of a firm with nary a dime of conventional ad spending.
Lynnwood, Inc. had a retained earnings balance of $12,000 on April 1, and the company had the following transactions during April. Issued common stock for cash, $5,000. Provided services to customers on account, $2,000. Provided services to customers in exchange for cash, $1900. Purchased equipment and paid cash, $4,300. Paid April rent, $800. Paid employees' salaries for April, $700. What was Lynnwood, Inc.'s retained earnings balance at the end of April
Answers
Answer:
$14,400
Explanation:
Calculation to determine What was Lynnwood, Inc.'s retained earnings balance at the end of April
LYNNWOOD, Inc.'s retained earnings balance at the end of April
Retained earning balance , April 1 $12,000
Add Service to customer $2,000
Add Service to customer $1,900
Less Rent ($800)
Less salaries ($700)
Retained earning April 30th $14,400
Therefore Lynnwood, Inc.'s retained earnings balance at the end of April is $14,400
while on a trip to south africa, madison was impressed with the colorful woven outdoor plaa business plan is a detailed written statement that describes the nature of the business, the target market, the advantages the business will have over competition, andemats, floor mats, chair cushions, and umbrellas that local artisans were weaving. upon returning to the united states, she was confident that u.s. consumers would be as intrigued by these accessories as she was. madison decided to explore the possibility of starting an import business to bring these products to the united states. which statement seems to be good advice for madison?
Answers
Learn from those who import goods from other countries, especially those in Africa.
What are the import goods?Transfers of goods (gifts, barter, & purchases) by non-residents to residents fall under the P71 category of imports of goods. When locals and visitors exchange financial ownership of goods, importation occurs. This is true regardless of corresponding physical cross-border transfers of products.
Who exactly is import?An import is what it is. An import is a product or service that's been produced in one country but is bought in another. Imports and exports are the two main components of world trade. A nation has a trade balance that is negative, also known as a trade imbalance, if indeed the price of its imports exceeds the value of what it exports.
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Why is it important to write a zero-based budget every month?
Answers
Answer:
It is important to write a zero-based budget every month because the zero-based budget ensures that every dollar you make is assigned a specific purpose.
Explanation:
If you know you are at risk of becoming unemployed, you should _____. a. wait until you officially lose the job to worry b. get additional education to learn new skills c. spend all your money while you are still making it d. ignore the economy, because it is always changing
Answers
Answer:
B is the smartest option
The correct option is B. If you know you are at risk of becoming unemployed, you should get additional education to learn new skills.
When done properly, skill development can lower unemployment and underemployment, boost productivity, and raise living standards. It makes economic sense to assist people in expanding and updating their skill sets.
What is the importance of skills?Enhances communication, time management, and negotiation abilities, as well as the ability to expand one's professional network. Talent Development: Skills are something that can be learned. People can find, develop, and nurture their intrinsic talent in the preferred sector with the aid of skill training.
Fundamentally, skills development helps people to pick up new talents in order to find employment and possibly launch a lifetime career. Youth are especially vulnerable to unemployment in our country, which affects 29% of the population; 55.2% of those between the ages of 15 and 24 are jobless.
The best choice is B. If you are aware that you could lose your job, you should continue your education to pick up new skills.
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what are keywords? in a paragraph pls
Answers
Answer:
like what key words the key words I know are she he I him her your you are yours us we names they them themselves and I think that's it
2. If changes happen during September or October, which expenses will you be able to change most easily? Give an example of how you could make a change. (5 points)
Answers
The correct answer to this open question is the following.
Although the question does not provide any context, references, or give options, we can say that if changes happen during September or October, the expenses you will be able to change most easily are according with the provisions projected in the annual plan, the budget, compared with the monthly expenses.
That is why a company has to elaborate on a good financial plan and overseeing the projections and true sales of the marketing and sales plan. This is important to take the proper control of expenses and revenues. Depending on the volume of sales during September and October, you can decide what kind of changes or adjustments to make in the following months.
Answer:
I would be able to change the variable expenses most easily. Such as food, clothing, and discretionary spending.
I could make the change by
Budgeting in October:
food from spending -$70 back to -$60
cut clothes off since I bought some already from -$40 to $0
budget my discretionary spending from -$60 back to -$40
This would increase my savings to $230
Workplace technology is relied upon by businesses to increase
O A. Employee turnover
O B. Philanthropy
O C. Efficiency and effectiveness
O D. Malfunction and futility
Answers
Answer:
C
Explanation:
Workplace Technology focues on maximizing effency to increase profit margines
Hope this helps you!
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a company charting its profits notices that the relationship between the number of units sold, x, and the profit, p, is linear. if 190 units sold results in $1140 profit and 240 units sold results in $3940 profit, write the profit function for this company.
Answers
Profit function: p(x) = 20x + 150, where x represents the number of units sold and p(x) represents the corresponding profit.
To find the profit function, we need to determine the relationship between the number of units sold (x) and the profit (p). Given that the relationship is linear, we can express it in the form of a linear equation: p(x) = mx + b, where m is the slope (representing the rate of change of profit with respect to units sold) and b is the y-intercept (representing the fixed profit when no units are sold). Using the given data, we can calculate the slope (m) as the change in profit divided by the change in units sold: m = (3940 - 1140) / (240 - 190) = 2800 / 50 = 56. Next, we substitute one set of values (x, p) from the given data into the equation to solve for the y-intercept (b). Let's use (190, 1140): 1140 = 56(190) + b 1140 = 10640 + b b = 1140 - 10640 b = -9500.
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Consumer surplus will _____ when a monopolist goes from single-price monopoly to perfect price discrimination.
Answers
Answer:
no consumer surplus
Explanation:
Price discrimination is selling a product at different prices for different classes of buyers based on their differing elasticity of demand for the product or service.
under perfect price discrimination, buyers enjoy no consumer surplus .
Identifying one's direct competition is a way to answer which question?
a) Who are our customers?
b) What business are we in?
c) How achievable are our objectives?
d) What is our mission?
Answers
Option B is correct. The way to answer one's direct competition is to ask What business are we in? Direct competition is what is happening in which at least two organizations offer items or administrations that are basically something similar.
Identifying one's direct competition is a key step in determining what business or industry the organization is in. By understanding who its direct competitors are, an organization can analyze their strengths and weaknesses, develop strategies to differentiate itself in the market and make informed decisions about product offerings, pricing, and marketing tactics. It is essential to identify the competition in order to understand the market, define the target audience, and develop a clear value proposition for the business.
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Which of these are goals of financial regulation? Check all that apply
Answers
Therefore, the goals of financial regulation include stability of the financial system, investor protection, market efficiency and transparency, consumer protection, and systemic risk management.
To answer your question, here are the goals of financial regulation:
Stability of the Financial System: Financial regulation aims to maintain the stability and integrity of the financial system. It seeks to prevent disruptions, such as financial crises, by implementing measures that promote sound financial practices and reduce systemic risks.
Investor Protection: Financial regulation aims to protect individual investors from fraud, misconduct, and unfair practices in financial markets. It ensures that investors have access to accurate information, fair treatment, and adequate safeguards when participating in financial transactions.
Market Efficiency and Transparency: Financial regulation seeks to promote efficient and transparent financial markets. It aims to ensure that markets operate in a fair and orderly manner, with proper mechanisms for price discovery, liquidity, and competition. This goal is crucial for facilitating efficient capital allocation and enhancing market integrity.
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Explain the importance of assessing one's PECs before engaging in a particular entrepreneurial activity.
Answers
Answer:
To get knowledge about business
Explanation:
Before participating in an entrepreneurial characteristics activity , it is important to evaluate one PECS so we'll have an understanding of that commercial enterprise or problem and we will know our positives and negatives. It will also enable us to determine what we're doing to enhance our features.
which form of business ownership is the most complex and difficult to form?
Answers
The form of business ownership that is the most complex and difficult to form is a corporation.
Corporations are the most complex and difficult form of business ownership. A corporation is a separate legal entity with shareholders who have limited liability for the corporation's debts. A corporation is governed by a board of directors, which is responsible for overseeing the corporation's operations and making major decisions. Because of their size and complexity, corporations are the most difficult form of business ownership to form.
The process of forming a corporation is complex and requires extensive legal and accounting work. Additionally, corporations are subject to a number of regulations and rules, which can be difficult to navigate. As a result, corporations are typically reserved for larger businesses with substantial assets and resources.
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The difference between the cost of bringing goods into the store and the selling price to the consumer is the:________
Answers
In conclusion, the profit margin is the difference between the cost of bringing goods into the store and the selling price to the consumer. It is an essential metric for businesses to determine their profitability.
The difference between the cost of bringing goods into the store and the selling price to the consumer is called the profit margin. Profit margin is a measure of the profitability of a product or service and is calculated by subtracting the cost of goods sold (COGS) from the selling price, and then dividing the result by the selling price.
To understand this concept better, let's consider an example. Let's say a store buys a product for $10 and sells it to a customer for $20. The cost of bringing the goods into the store is $10, while the selling price to the consumer is $20. The difference between these two amounts is $10, which represents the profit margin.
In conclusion, the profit margin is the difference between the cost of bringing goods into the store and the selling price to the consumer. It is an essential metric for businesses to determine their profitability.
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Create a comic strip, poster, or other visual art presentation that illustrates the forces of supply and demand, just as the dance routine in Supply and Dance, Man illustrated it using
the example of selling canes. Invent a fictitious business and illustrate how the business's successes shift supply and demand. Identify the supply and demand factors at play.
Answers
Answer:
demand is equal to 1000 and factors is equal to 5000
Gross profit is net sales minus the cost of bringing merchandise into the store. (T/F)
Answers
The statement is False. Gross profit is net sales minus the cost of goods sold (COGS), which includes the cost of bringing merchandise.
The store as well as any additional costs associated with the production or acquisition of the goods, such as transportation or storage expenses. It is a measure of a company's profitability before taking into account any other expenses such as rent, salaries, or taxes.
The formula for calculating gross profit is: Gross Profit = Net Sales - Cost of Goods Sold. It is an important metric for businesses as it shows how efficiently they are managing their inventory and pricing their products.
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What are four things a great résumé shows employers?
Answers
Answer:
qualifications, meet the employer's needs, likeable, work well with others, appeal to both human and electronic reviews.
Explanation:
There are four things a great resume shows employers are:
Personal details.Education qualification.Skills.Working experience.What is resume?
The term “resume” is a formal document to present a job applicant with mention of specific details. The resume is a one- or two-page summary of a person's details, such as education, skills, and work experience. The resume is necessary to obtain the job. The resume is the effective to easily apply the job vacancy and selection.
The resume is a one-page summary of the document to cover all the details in the short sentence. The resume is more visual, such as creating the table of the qualifications and adding the passport-sized photo.
Personal information such as name, address, email address, and cell phone number should be included at the top of the resume. They always require that you have the necessary abilities and professional experience.
As a result, the resume must be included the personal details, qualification, skills, and experiences.
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Who carries the animal from the farm to the market or packer?
A. Producer
B. Proccessor
C. Transporter
D. Consumer
Answers
Answer:
was it a passage u had to read?
Explanation:
Answer:
Transporter
Explanation:
You are transferring the animal to the market from the farm.
Martin puts his weekly paycheck into his checking account. In which column should he write the value of his paycheck? A checking account has columns check number, debits, deposits, balance. Deposits Balance Debit Check number.
Answers
Answer:
A:depositsExplanation:
Martin puts his weekly paycheck into his checking account. In which column should he write the value of his paycheck be deposits
:D I hope this helps
In the deposit column, he should write the value of his paycheck. Thus, option A is the correct option.
What is a checking account?A checking account is a bank account where users have convenient access to withdraw and deposit funds. It is primarily used to conduct personal financial transactions and pay bills. Check deposits and debit card purchases are both possible with a checking account. A checking account's main function is to store your money in a safe location for a brief period of time, making it accessible when you need it to cover bills and other costs.
You may direct deposit your paycheck into your bank account and then transfer some of your take-home pay to a savings or investment account where it can compound over time. Use of checking accounts for long-term objectives, such as saving for a home, is not advised since you earn a low-interest rate, averaging about.
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For each lease below identify whether the short-term lease recognition exemption would be available. Fill in the columns by dragging and dropping the options from below, and then select Submit.
Answers
Here is the analysis of whether the short-term lease recognition exemption would be available for each lease:
How to explain the leaseLease 1: Lease term: 11 months
Option to purchase: No
The short-term lease recognition exemption would be available for this lease because the lease term is 12 months or less and there is no option to purchase the underlying asset.
Lease 2:Lease term: 10 months
Option to purchase: Yes, but the lessee is not reasonably certain to exercise the option.
The short-term lease recognition exemption would be available for this lease because the lease term is 12 months or less and the lessee is not reasonably certain to exercise the option to purchase the underlying asset.
Lease 3: Lease term: 11 months
Option to purchase: Yes, and the lessee is reasonably certain to exercise the option.
The short-term lease recognition exemption would not be available for this lease because the lease term is 12 months or less, but the lessee is reasonably certain to exercise the option to purchase the underlying asset.
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on 1/31/y1, bailey company leased a new machine from sussex corp. the following data relate to the lease transaction at its inception: lease term 10 years annual rental payable at beginning of each lease year $50,000 useful life of machine 15 years implicit interest rate 10% present value of an annuity in advance for 10 periods at 10% 6.76 present value of annuity in arrears for 10 periods at 10% 6.15 fair value of the machine $400,000 the lease has no renewal option, the possession of the machine reverts to saxe when the lease terminates. at the inception of the lease, clay should record a lease liability of
Answers
At the start of the lease agreement, Bailey Company should recognize a lease liability of $357,184. This calculation is based on the present value of the lease payments.
The lease payments are determined by multiplying the annual lease payment of $50,000 by the present value of an annuity in advance for 10 periods at a discount rate of 10%, which equates to 6.76. Thus, the annual lease payment amounts to $50,000 multiplied by 6.76, resulting in $338,000.
To determine the lease liability, this annual lease payment is discounted at the implicit interest rate of 10% over the lease term of 10 years, leading to a present value of $357,184.
Consequently, this is the amount that Bailey Company is obligated to pay to Sussex Corp. for utilizing the leased machine over the lease period.
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In a recent survey, employees felt that the number one benefit they wish they had that they are not already receiving was an additional sick day for family members. If there are 75 employees, it costs $250 for an employee to be out of work, and 70% of the employees would use that additional sick day, how much money would it cost the company to add this benefit?
Answers
Answer: $175
Explanation:
From the question, we are told that the employees of a company wanted additional sick day. We are further informed that if there are 75 employees, it costs $250 for an employee to be out of work, and 70% of the employees would use that additional sick day.
The amount of money that it would it cost the company to add this benefit will be:
= 70% × $250
= 70/100 × $250
= 0.7 × $250
= $175
The money that should be the cost of the company to add this benefit is $175
Important information:If there are 75 employees, it costs $250 for an employee to be out of work, and 70% of the employees would use that additional sick day
The calculation of money is= 70% × $250
= 70/100 × $250
= 0.7 × $250
= $175
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If a bank sells off all of its assets and pays all of its liabilities, the amount remaining would be its:
a. net profit.
b. reserves.
c. net worth.
d. excess reserves.
Answers
If a bank sells off all of its assets and pays all of its liabilities, the amount remaining would be its net worth. Thus, the correct answer is option C.
Net worth is the value of a person's or corporation's assets less the obligations they owe. It is a key indicator for assessing a company's health because it provides a valuable snapshot of the company's present financial state.
Net value is determined by deducting all liabilities from all assets. Net worth can be positive or negative, with the former indicating that assets outweigh obligations and the latter indicating that liabilities exceed assets. Positive net worth that is increasing implies healthy financial health. Declining net worth, on the other hand, is cause for concern because it may indicate a reduction in assets relative to liabilities.
Therefore, the ideal selection is option C.
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Analyse why Emirates would want to be more environmentally friendly
Answers
Reputation: In recent years, there has been a growing public concern over the impact of air travel on the environment. Consumers are becoming more environmentally conscious and are choosing companies that are taking steps to reduce their impact on the environment. By adopting more sustainable practices, Emirates can improve its reputation and appeal to environmentally conscious customers.
Cost savings: Adopting environmentally friendly practices can also help Emirates save on operating costs. For example, using more fuel-efficient aircraft or reducing waste can result in significant cost savings over time. These cost savings can be reinvested into other areas of the business, such as improving the customer experience or expanding the route network.
Compliance: Governments around the world are implementing stricter regulations to reduce carbon emissions and promote sustainable practices. By adopting more environmentally friendly practices, Emirates can ensure compliance with these regulations and avoid potential fines or penalties.
Social responsibility: As a global company, Emirates has a responsibility to act in the best interests of society and the environment. By reducing its carbon footprint and promoting sustainable practices, Emirates can contribute to global efforts to address climate change and promote sustainability.
Overall, there are several compelling reasons why Emirates would want to be more environmentally friendly. By adopting more sustainable practices, Emirates can improve its reputation, save on costs, comply with regulations, and act as a responsible corporate citizen.