Outdoor Industries manufactures custom-designed playground equipment for schools and city parks. Outdoor expected to incur $627,000 of manufacturing overhead cost, 41,800 of direct labor hours, and $1,588,400 of direct labor cost during the year (the cost of direct labor is $38 per hour). The company allocates manufacturing overhead on the basis of direct labor hours. During January, Outdoor completed Job 302. The job used 155 direct labor hours and required $14,500 of direct materials The City of Westlake has contracted to purchase the playground equipment at a price of 26% over manufacturing cost.
Requirement
1. Calculate the manufacturing cost of Job 302.
First identify the formula, then calculate the predetermined overhead rate.
Estimated yearly / Estimated yearly = Predetermined overhead rate
overhead costs direct labor hours
627,000 / 41,800 = 15 per hour
Calculate the manufacturing cost of Job 302.
Direct materials 14,500
Direct labor
Manufacturing overhead
Total job cost

The maximum amount that Purifier should pay for IntelAir is $10,538,700.

Selling price per antenna = $1,000

All-inclusive production cost per unit = $700

Annual net cash inflow per unit = $300/unit ($1,000 - $700)

Number of units to be sold per year = 5,000 units

Total annual net cash inflow = $1,500,000 ($300 x 5,000)

Expected period of revenue generation = 10 years

Discount rate = 10%

The PV annuity factor at 10% for 10 years = 6.145

The Present value of annuity of net cash inflow = $9,217,500 ($1,500,000 x 6.145).

The Present value of patent sale = $1,818,000 ($2,000,000 x 0.909).

The Present value of upgrading expenses = $496,800 ($800,000 x 0.621).

The maximum amount that Purifier should pay for IntelAir is $10,538,700 ($9,217,500 + $1,818,000 - $496,800).

Thus, the maximum amount that Purifier should pay for IntelAir is $10,538,700.

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Based on the percentage completed and the cost of the jobs, total value of work in process inventory at the end of March is $62,480.

What is the Work in Process Inventory?

The work in process will include Jobs 1 and 3 only because job 2 is already done.

Work in process can be found as:

= Cost of job 1 + Cost of job 3

Cost of a single job is:

= Direct labor + Direct materials + Overhead which is 60% of direct materials

Solving for both jobs gives:

= (13,200 + 21,200 + (13,200 x 60%)) + (6,200 + 9,200 + (6,200 x 60%))

= $61440

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Considering the available options, the one that is not considered to be a threat to or potential conflict with the independence rule is:

" There is legal action between the member's firm and the client regarding audit services."

Hence, in this case, the correct answer is option C "There is legal action between the member's firm and the client regarding audit services."

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The correct statement that compares the premium prices for these insurance policies is:

B. Policy 1 will have a higher premium because it has a lower deductible than Policy 2.

In the context of insurance policies, the deductible is the amount the policyholder must pay out of pocket before the insurance coverage kicks in.

A lower deductible means the insurance company will have to cover a larger portion of the claim, which typically leads to a higher premium.

Policy 1 has a lower deductible of $1,600 compared to Policy 2's deductible of $2,000.

Therefore, Policy 1 will likely have a higher premium because the insurance company would bear a greater portion of the claim costs.

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Answer: a movement along the demand curve.

Explanation:

When the price of a good changes, demand is supposed to react to that by moving along the demand curve because the demand curve is a visual representation of the goods demanded by people at various prices.

For instance, if the price of a normal good increases, the demand will likely decrease and there will be a movement up the demand curve to show that less goods are being demanded. The reverse holds true.

Answer:

The cost is totally unique to each car model and brand. I would say the average car costs around $30,000 - $40,000. It's important that you are able to afford and fully pay for the car, wether in full, or by a monthly plan. It really is subjective to the individual and their price range and budget.

Answer:

Explanation:

We need to first calculate the interest on investing $30,000 after 20 years at 7% in a single-premium tax-deffered annuity using the simple interest formula.

Simple interest = Principal * Rate * Time/100

Simple interest = $30,000*7*20/100

Simple Interest = $42,000

After-tax dollars that will be accumulated in 20 years = Initial investment + Interest = $30,000+$42,000 = $72,000

Hence, after-tax dollars that will be accumulated in 20 years is $72,000.

Answer:

A) risk

Explanation:

An insurance company creates a pool of funds to handle risk. This helps to protect the company financially if there are more claims than expected.

Answer:

its owners, employees, and customers

Answer: Please see explanation column for answers

Explanation:

Partial income statement for Sheffield Corporation

Income from continuing operations                                $10,745,300

Discontinued operations:

Loss from operation of discontinued      $317,300

restaurant division, net of tax  

Loss of disposal of restaurant division,   $198,600

net of tax

  Total of the losses                                                                    $515,900                                                                                          

Net income                                                                                $10,229,400

(Income from continuing operations  -Losses from Discontinued operations)

Earnings per share

Income from continuing operations   $10,745,300/10,000,000 shares

                                               =$1.07453

Discontinued operations $515,900   /10,000,000 shares

                            =$0.05159

Earnings per share of net income   ($1.07453-$0.05159) =$1.02294≈$1.02

Net Income for  Sheffield Corporation is $10,229,400 with Earnings per share $1.02

Answer: When an individual starts a new business there are risks and costs.

Explanation:

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↦ Business is an economic activity that is directed towards acquiring and earning profit and wealth through customer's satisfaction. It plays an important role for the economic development of the country and uplift living standard of the people. Some of the functions of business are described below :

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Answer:

a-1. Percentage change in the price of Bond Bill = -8.07%

a-2. Percentage change in the price of Bond Ted = -21.12%

b-1. Percentage change in the price of Bond Bill = 8.94%

b-1. Percentage change in the price of Bond Ted = 30.77%

c. See the attached excel file for the graph.

d. It tells us that the longer the term of a bond, the greater will be its interest rate risk.

Explanation:

The price of each bond can be calculated using the following excel function:

Bond price = -PV(YTM, NPER, PMT, FV) ........... (1)

Where;

a-1. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Bill?

YTM = (6.2% + 2%) / Number of semiannuals in a year = 8.2% / 2 = 4.1%

NPER = Number of semiannuals to maturity = 5 * 2 = 10

PMT = Payment = Coupon rate * Face value = (6.2% / Number of semiannuals in a year) * 1000 = (6.2% / 2) * 1000 = $31

FV = Face value = Initial price of Bond Bill = $1,000

Substituting all the values into equation (1), we have:

New price of Bond Bill = -PV(4.1%, 10, 31, 1000)

Inputting =-PV(4.1%, 10, 31, 1000) in a cell in an excel file (Note: As done in the attached excel file), we have:

New price of Bond Bill = $919.29

Percentage change in the price of Bond Bill = ((New price of Bond Bill - Initial price of Bond Bill) / Initial price of Bond Bill) * 100 = (($919.29 - $1,000) / $1,000) * 100 = -8.07%

a-2. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Ted?

YTM = (6.2% + 2%) / Number of semiannuals in a year = 8.2% / 2 = 4.1%

NPER = Number of semiannuals to maturity = 25 * 2 = 50

PMT = Payment = Coupon rate * Face value = (6.2% / Number of semiannuals in a year) * 1000 = (6.2% / 2) * 1000 = $31

FV = Face value = Initial price of Bond Ted = $1,000

Substituting all the values into equation (1), we have:

New price of Bond Ted = -PV(4.1%, 50, 31, 1000)

Inputting =-PV(4.1%, 50, 31, 1000) in a cell in an excel file (Note: As done in the attached excel file), we have:

New price of Bond Ted = $788.81

Percentage change in the price of Bond Ted = ((New price of Bond Ted - Initial price of Bond Bill Ted) / Initial price of Bond Ted) * 100 = (($788.81 - $1,000) / $1,000) * 100 = -21.12%

b-1. If rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of Bond Bill be then?

YTM = (6.2% - 2%) / Number of semiannuals in a year = 4.2% / 2 = 2.1%

NPER = Number of semiannuals to maturity = 5 * 2 = 10

PMT = Payment = Coupon rate * Face value = (6.2% / Number of semiannuals in a year) * 1000 = (6.2% / 2) * 1000 = $31

FV = Face value = Initial price of Bond Bill = $1,000

Substituting all the values into equation (1), we have:

New price of Bond Bill = -PV(2.1%, 10, 31, 1000)

Inputting =-PV(2.1%, 10, 31, 1000) in a cell in an excel file (Note: As done in the attached excel file), we have:

New price of Bond Bill = $1,089.36

Percentage change in the price of Bond Bill = ((New price of Bond Bill - Initial price of Bond Bill) / Initial price of Bond Bill) * 100 = (($1,089.36 - $1,000) / $1,000) * 100 = 8.94%

b-2. If rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of Bond Ted be then?

rate = new YTM = (6.2% - 2%) / Number of semiannuals in a year = 4.2% / 2 = 2.1%

NPER = Number of semiannuals to maturity = 25 * 2 = 50

PMT = Payment = Coupon rate * Face value = (6.2% / Number of semiannuals in a year) * 1000 = (6.2% / 2) * 1000 = $31

FV = Face value = Initial price of Bond Ted = $1,000

Substituting all the values into equation (1), we have:

New price of Bond Ted = -PV(2.1%, 50, 31, 1000)

Inputting =-PV(2.1%, 50, 31, 1000) in a cell in an excel file (Note: As done in the attached excel file), we have:

New price of Bond Ted = $1,307.73

Percentage change in the price of Bond Ted = ((New price of Bond Ted - Initial price of Bond Bill Ted) / Initial price of Bond Ted) * 100 = (($1,307.73 - $1,000) / $1,000) * 100 = 30.77%

c. Illustrate your answers by graphing bond prices versus YTM.

Note: See the attached excel file for the graph.

d. What does this problem tell you about the interest rate risk of longer-term bonds?

It tells us that the longer the term of a bond, the greater will be its interest rate risk.

Answer:

(he or she might not be the owner, the owner of the business may appoint someone to be the manager meaning taking care of the situation involving the business etc)

Answer:

The correct option is c. F= 250(F/A, 1%, 120).

Explanation:

Since she gets paid on the last day of every month, implies we are to the determine the future value (F) of an ordinary annuity. Therefore, the original expression for the future value (F) of an ordinary annuity is as follows:

F= A(F/A, i, n) …………………. (1)

Where:

F = Future value

A = Periodic or monthly amount = $250

F/A = Convert A to F

i = monthly interest rate = 1%

n = number of months = Number of years * number of months in a year = 10 * 12 = 120

Substituting the values into equation (1) except F/A, we have:

F= 250(F/A, 1%, 120) …………………… (1)

Therefore, the correct option is c. F= 250(F/A, 1%, 120).

Note:

Note that inputting equation into a scientific calculator will give the following future value (F):

F = $57,509.67

Answer: the baker to supply less bread now than she was supplying previously

Explanation: Going by the concept of demand and supply with respect to price of goods and services which is a factor which affects these two economic phenomenon, When there is a perceived or possible rise in the price of goods and services, manufacturers in a bid to maximize profit, tends to hoard the available amount of goods available, by supplying the market below the usual amount. Conversely, when there is a perceived decline in future price, they tend to supply more than usual in other to reduce or minimize loss.

A financial advisor can get new client through the qualities and skills they posses and a client can choose a financial advisor  when the client is satisfied that the financial advisor is someone that  is qualified to give  financial advises.

A financial advisor is person whose job is to advice someone on how to effectively manage their resources as well as finances so as to prevent running into debt or financial mismanagement.

A financial advisor can tend to get a  new client by  advertising themselves or showcasing the type of skills they possess as well as how they can effective advice and help people to manage their finances.

A  client can tend to choose a reliable financial advisor by checking whether the advisor is  a professional or  a person that is qualified to be a financial advisor as well as a verifying if the advisor is a person that can help to advice people on how to effectively manage their finances.

Therefore the a financial advisor help to advices people on how to manage their finances as well as investment.

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The complement of an event A is the event that A does not occur in any account is known as an impossible event.

The event, incident, episode, and scenario all refer to an occurrence or occurrence. A happening that occurs without intention, choice, or plan is referred to as an occurrence. a fortuitous meeting that happened to occur.

As, in the event, there are certain possibilities is there that it will occur or not. One less than the likelihood that an event will take place gives us the likelihood that it won't.

Therefore, As a result, The impossible event is known as the event that A does not occur.

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Option (a), an illustration of an in-text citation following a direct quote is King (1967, para. 17).

In-text citations are the brief citations you include in the written text to help the reader understand which sources you are quoting or referring to, such as (1) or McEwan, 2022. References are the complete details of the source that you have cited in your writing.

An in-text citation is the abbreviated form of the reference that you include in the body of your work. It gives you enough information to figure out the source in your list of references. The brief form typically includes: the name of the author's family, and year of publication.

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The journal and adjusting entries for the investment in Sonny, Inc. for Year 1 are given.

Journal Entries

Date Account Debit Credit

June 15 Investment in Sonny, Inc. $7,500 Cash $7,500

September 15 Cash $200 Dividend Revenue $200

December 31 Investment in Sonny, Inc. $2,500 Unrealized Gain on Investments $2,500

Adjusting Entries

Date Account Debit Credit

December 31 Investment in Sonny, Inc. $1,500 Income Tax Expense $1,500

To record the unrealized gain on investments as a temporary difference.

T-Accounts

Cash

Date Debit Credit Balance

1/1 $100,000

6/15 $7,500 $107,500

9/15 $200 $107,300

12/31 $1,500 $105,800

Investment in Sonny, Inc.

Date Debit Credit Balance

6/15 $7,500 $7,500

9/15 $0 $7,500

12/31 $2,500 $10,000

Unrealized Gain on Investments

Date Debit Credit Balance

12/31 $2,500 $2,500

Income Tax Expense

Date Debit Credit Balance

12/31 $1,500 $1,500

Year 2

February 17 Cash $11,500 Loss on Sale of Investments $500 Investment in Sonny, Inc. $12,000

To record the sale of the investment in Sonny, Inc.

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Answer:

c

Explanation:

Increasing or decreasing the amount of common stock is not an example of restructuring. Thus, option 'A' is the correct option.

A business restructuring is a key step that a company takes to change and reorganize its operations with the goal of lowering debt, boosting productivity, and enhancing the firm's moving ahead. Businesses experiencing financial challenges are more likely to reorganize.

A firm that finds itself in a situation where its debt is rising and it is having trouble making payments on time will frequently choose to restructure in order to find a sustainable solution to pay back all of its creditors and settle any outstanding debt. In general, the significance of corporate restructuring originates from its capacity to right the ship, divert attention from a gathering storm, and steer it in the direction of sheltered seas. It can act to turn around a failing business and position it for success.

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The complete options are:

a. Increase or decrease the amount of common stock

b. Eliminating profitable but unrelated divisions.

c. Merging with companies in related industries.

d. Divesting of an unprofitable division

A social market economy generally stresses the equality of all citizens. A Laissez-faire economic system ambitions to be self-sufficient.

Social Market Economy can be described as an financial order which in a framework of market economy ambitions for social security and social fairness with the aid of potential of political intervention and measures in line with the market.

While no current international locations are viewed to have a "pure" socialist system, Cuba, China, and North Korea have sturdy factors of socialist market economies.

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When deciding how to invest your money, it's essential to consider several factors such as risk tolerance, investment goals, and time horizon.

However, the least important factor to know is probably the short-term market fluctuations.

Short-term market fluctuations refer to the daily ups and downs in the stock market or other investment platforms. While it can be tempting to focus on these fluctuations, they are generally not indicative of long-term performance and can lead to emotional, impulsive decisions that may not align with your investment strategy. Instead, it's more important to focus on factors that contribute to long-term growth and stability.

A sound investment strategy takes into account your risk tolerance, which is your ability and willingness to withstand potential losses. Additionally, clearly defined investment goals help you create a tailored plan that considers your specific objectives, such as saving for retirement or funding a child's education. Your time horizon, or the length of time you plan to invest, also plays a significant role in determining suitable investment options.

By prioritizing long-term factors like risk tolerance, investment goals, and time horizon, you can make more informed decisions that will ultimately lead to better financial outcomes. Remember that short-term market fluctuations can be distracting and are less important in the grand scheme of your investment journey.

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Answer:

market monitoring

Explanation:

After the marketing mix step, Implementation, monitoring, and control follows. The strategic marketing process is a continuous effort. Management should always be on the look for places to improve and enhance the plan. Market monitoring assists in pointing out specific opportunities for improvement.

Market monitoring requires the management to keep looking at the set goals and objectives to determine if the marketing process is heading in the right direction.

The correct answer is B. Economic demand is the amount of a good or service that consumers are willing and able to buy at various prices.

It reflects the relationship between the price of a product and the quantity that consumers are willing to purchase at that price. Demand is influenced by factors such as price, consumer preferences, income levels, and availability of substitutes.

As the price of a product decreases, the quantity demanded generally increases, and vice versa, following the law of demand. The demand curve represents this relationship, showing the quantity of a good or service that consumers are willing and able to buy at different price points.

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Answer:

Pharoah Company

Revised Annual Depreciation on Dec. 31, 2022:

= Depreciable amount divided by 10 years

= $55,000/10 = $5,500

Explanation:

a) Data:

July 1, 2019: Equipment Purchase $80,000

Estimated useful life = 8 years

Salvage value = $16,000

b) Computations:

Depreciable amount = $64,000 ($80,000 - 16,000)

Annual Depreciation Expense = $8,000 ($64,000/8)

Six months Depreciation Expense = $4,000 ($8,000/2)

c) Accumulated Depreciation from July 1, 2019 to Jan. 1, 2022:

July 1, 2019 to Dec. 31, 2019 = $4,000

Jan. 1, 2020 to Dec. 31, 2020 = $8,000

Jan. 1, 2021 to Dec. 31, 2021 = $8,000

Total  =      $20,000

d) Revision of Estimates:

Jan. 1, 2022, Book Value = Cost minus Accumulated Depreciation ( $80,000 - $20,000) = $60,000

Re-estimated salvage = $5,000

Depreciable amount  =$55,000

Remaining useful life = 10 years

Annual Depreciation Expense = $5,500 ($55,000/10)

e) Depreciation is an accounting estimate used as a way of expensing the cost of a fixed asset over its useful life.  It is in line with the accrual concept and matching principle of generally accepted accounting principles, which require expenses and revenues to be matched to the related period, expenses and revenues.  It is based on the judgement of management and can be revised in line with changing circumstances and judgements.  There are many methods for accounting for depreciation, including the straight-line as above, the unit of production method, double declining, sum of the years digit method, and accelerated methods like the MACRS or Modified Accelerated Cost Recovery System for tax accounting.