DM & DL variances
Green Tee produces 100 percent cotton t-shirts, with the following standard direct material and labor quantities and costs:
Direct material2.0 yards × $3.00Direct labor0.7 hour x $7.50
Actual September production and costs for the company to produce 10,000 t-shirts were as follows:
QuantityCostDirect materialPurchased30,000yards$89,700Requisitioned into production20,120yardsDirect labor7,940hours$58,756
a. What is the standard quantity of material and the standard labor time for September’s production?
Standard quantity of material20,000yardsStandard quantity of labor7,000DLHs
b. Compute the direct material and direct labor variances.
Material price varianceAnswerAnswerFavorableUnfavorableNeither favorable or unfavorableMaterial quantity varianceAnswerAnswerFavorableUnfavorableNeither favorable or unfavorableLabor rate varianceAnswerAnswerFavorableUnfavorableNeither favorable or unfavorableLabor efficiency varianceAnswerAnswerFavorableUnfavorableNeither favorable or unfavorable
c. Record the year-end adjusting entry to close the material and labor variances, assuming that they are insignificant.
Note: Record any multiple debits or any multiple credits in alphabetical order by account name.
AccountDebitCreditAnswerAccounts PayableCost of Good SoldLabor Efficiency VarianceLabor Rate VarianceMaterial Price VarianceMaterial Quantity VarianceOH Spending VarianceRaw Material InventoryVOH Efficiency VarianceVolume VarianceWages PayableWork in Process InventoryAnswerAnswerAnswerAccounts PayableCost of Good SoldLabor Efficiency VarianceLabor Rate VarianceMaterial Price VarianceMaterial Quantity VarianceOH Spending VarianceRaw Material InventoryVOH Efficiency VarianceVolume VarianceWages PayableWork in Process InventoryAnswerAnswerAnswerAccounts PayableCost of Good SoldLabor Efficiency VarianceLabor Rate VarianceMaterial Price VarianceMaterial Quantity VarianceOH Spending VarianceRaw Material InventoryVOH Efficiency VarianceVolume VarianceWages PayableWork in Process InventoryAnswerAnswerTo dispose of the material variancesAccountDebitCreditAnswerAccounts PayableCost of Good SoldLabor Efficiency VarianceLabor Rate VarianceMaterial Price VarianceMaterial Quantity VarianceOH Spending VarianceRaw Material InventoryVOH Efficiency VarianceVolume VarianceWages PayableWork in Process InventoryAnswerAnswerAnswerAccounts PayableCost of Good SoldLabor Efficiency VarianceLabor Rate VarianceMaterial Price VarianceMaterial Quantity VarianceOH Spending VarianceRaw Material InventoryVOH Efficiency VarianceVolume VarianceWages PayableWork in Process InventoryAnswerAnswerAnswerAccounts PayableCost of Good SoldLabor Efficiency VarianceLabor Rate VarianceMaterial Price VarianceMaterial Quantity VarianceOH Spending VarianceRaw Material InventoryVOH Efficiency VarianceVolume VarianceWages PayableWork in Process InventoryAnswerAnswerTo dispose of the labor variances
Answers
a) Standard quantity of material is 20,000 yards and standard quantity of labor time is 7,000DLHs.b)The calculation of direct material and direct labor variances.
Material price variance= (Actual quantity purchased x Actual price) – (Actual quantity purchased x Standard price)= (30,000 x 3.00) – (30,000 x 4.50)= $27,000 U Material quantity variance= (Actual quantity used x Standard price) – (Standard quantity allowed x Standard price)= (20,120 x 4.50) – (20,000 x 4.50)= $810 U Labour rate variance= (Actual hours worked x Actual rate) – (Actual hours worked x Standard rate)= (7,940 x 7.50) – (7,940 x 7.00)= $3,970 U Labour efficiency variance= (Actual hours worked x Standard rate) – (Standard hours allowed x Standard rate)= (7,940 x 7.00) – (7,000 x 7.00)= $2,580 U c) Material and labor variances are insignificant, so no adjusting entry is required.
To dispose of the labor variances, the following journal entry will be made: Account Debit Credit Answer Accounts Payable Answer Labor Efficiency Variance Answer Labor Rate Variance Answer Wages Payable Answer Work in Process Inventory Answer Answer Answer Accounts Payable Answer Labor Efficiency Variance Answer Labor Rate Variance Answer Wages Payable Answer Work in Process Inventory Answer .
To dispose of the material variances, the following journal entry will be made: Account Debit Credit Answer Accounts Payable Answer Material Price Variance Answer.
Material Quantity Variance Answer Raw Material Inventory Answer Work in Process Inventory Answer Answer Answer Accounts Payable Answer Material Price Variance Answer Material Quantity Variance Answer Raw Material Inventory Answer.
Work in Process Inventory Answer Answer Answer Accounts Payable Answer Material Price Variance Answer Material Quantity Variance Answer Raw Material Inventory Answer Work in Process Inventory Answer Answer.
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Related Questions
consider the relational schema for a company: employee(person_name, street, city) works(person_name, company_name, salary) company(company_name, city) manages(person name, manager name)
Answers
The relational schema for the company consists of four tables: employee, works, company, and manages.
The tables store information about employees, their work details, companies, and the managers of employees. The relational schema consists of the following tables:
Employee: This table contains information about employees, including their person name, street address, and city.Works: This table stores the work details of employees, including their person name, company name, and salary. It establishes a relationship between employees and the companies they work for.Company: This table contains information about companies, including the company name and the city where the company is located.Manages: This table represents the management relationship between employees. It stores the person name of an employee and the name of their manager.By using this relational schema, various queries and analyses can be performed to retrieve information about employees, their work details, companies, and the managerial relationships within the organization. The tables are linked through key attributes, such as person name, company name, and manager name, allowing for efficient retrieval and manipulation of data.
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Question 9 of 10
Which of the following is a general example of a business?
A. Jordan uses a computer to research the Civil War for his history
project.
B. Frank prepares dinner for his family on weeknights.
C. Wanda tries to make a profit by selling homemade jam at the
farmer's market.
D. Laurel volunteers to babysit her niece on Saturday.
SUBMIT
Answers
The best example of a business is that Wanda tries to make a profit by selling homemade jam at the farmer's market.
What do you mean by Business?An entity is defined as an organization or entity that performs commercial, industrial, or professional activities. Businesses can be for-profit organizations or non-profit organizations.
Business types range from limited liability companies to sole ownership, companies, and partnerships.
Thus, Option C is the correct answer that Wanda tries to make a profit by selling homemade jam at the farmer's market.
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how does free trade tend to benefit society? multiple select question. it helps businesses succeed by monopolizing their industries. it reduces animosity among nations that trade with each other. it encourages businesses to use low-cost production techniques. it spurs economic growth by encouraging business to innovate.
Answers
Countries that are open to international trade tend to grow faster, innovate, improve productivity, and provide their citizens with higher incomes and more opportunities. hence option C and D is correct
What is Free Trade ?Open trade also benefits lower-income households by making goods and services more affordable to them.
Trade is critical to America's prosperity because it fuels economic growth, supports good jobs at home, raises living standards, and allows Americans to provide affordable goods and services for their families.
Free trade agreements do more than just reduce and eliminate tariffs; they also assist in addressing behind-the-border barriers that would otherwise impede the flow of goods and services; encouraging investment; and improving rules governing issues such as intellectual property, e-commerce, and government procurement.
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The profits for a company were $18.2 million in 2008 and have increased each year by $1.6 million. Let t represent the years since 2008. Set up and solve a linear equation to find the year when the profits would reach $29.4 million.
Answers
In the case, the year when the profits would reach $29.4 million is 2015.
Given that the profits for a company were $18.2 million in 2008 and have increased each year by $1.6 million. Let t represent the years since 2008.
To find the year when the profits would reach $29.4 million we need to set up a linear equation and solve it.
Step-by-step solution:
We know that profits increased by $1.6 million each year. So, the profits can be represented as:
$$P=1.6t+18.2$$
where P is profits and t is the number of years since 2008.
Now, we need to find the year when the profits would reach $29.4 million. So, we need to solve the equation for t when P = $29.4 million.
$$29.4=1.6t+18.2$$
Subtract 18.2 from both sides of the equation.
$$29.4-18.2=1.6t$$
Simplify.
$$11.2=1.6t$$
Divide both sides by 1.6.$$t=7$$
So, the profits will reach $29.4 million after 7 years from 2008.
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A company has a selling price of $2,150 each for its printers. Each printer has a 2 year warranty that covers replacement of defective parts. It is estimated that 3% of all printers sold will be returned under the warranty at an average cost of $157 each. During November, the company sold 37,000 printers, and 470 printers were serviced under the warranty at a total cost of $62,000. The balance in the Estimated Warranty Liability account at November 1 was $32,500. What is the company's warranty expense for the month of November
Answers
Answer:
$174,270
Explanation:
The computation of the warranty expense for November is shown below:
= Number of printed sold × estimated percentage × average cost
= 37,000 printers × 3% × $157
= 1,110 printers ×$157
= $174,270
We simply applied the above formula so that the company warranty expense for November month could come and the same is to be considered
______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
Yeah
Aye' Lewis wassup?
Billy Bang
It's the chemists yall'
My love, do you ever dream of
Have you ever loved someone
So much you'd thought you'd die
Giving so much of yourself it seems the only way
Tell me what you want and now
And I will give it to you (You yeah)
'Cause you are my love do you ever dream of
Candy coated rain drops?
You're the same my candy rain
My love did you ever dream (Dream)
That it could be so right?
I never thought I would find
All that I need in life
All I want all I need now I know
I know I found it in you
'Cause you are my love do you ever dream of
Candy coated rain drops?
You're the same my candy rain
Billy Bang
Mommy call me bang bang like a gun
I make her candy rain let it rain on my tongue
Tell her don't stop get it get it, gimmie gimmie some
Baby don't stop get it get it til we get it done
Answers
Answer:
?????????????????????
Answer:
/: ??????????????
Explanation:
Explain how the Zhou discretionary family trust with the following particulars could distribute residual income to minimize tax at the end of the 2021 income year, given the following: Taxable income of $73,000 at the end of the income year. A choice of three beneficiaries, all of whom could be made presently entitled to a portion of the income and are a resident of Australia for tax purposes: Fred who is 45 and has other taxable income of $18,000. Samantha who is 20 and has $10,000 of other income. Beth who is 16 and has no other income. When answering the question please: Work out the most tax effective way of distributing the trust income, showing your workings. Complete tax calculations until the TAXABLE INCOME stage for each of the three beneficiaries.
Answers
To determine the most tax-effective way of distributing the trust income for the Zhou discretionary family trust, we need to consider the tax brackets and rates applicable to each beneficiary. Here's how we can calculate the tax liability for each beneficiary and distribute the income to minimize tax:
Fred:
Taxable income: $73,000 + $18,000 (other income) = $91,000
Tax calculation:
$18,200 (tax-free threshold)
$18,201 - $45,000: 19% tax rate
$45,001 - $91,000: 32.5% tax rate
Tax liability: ($18,200 x 0%) + (($45,000 - $18,201) x 19%) + (($91,000 - $45,001) x 32.5%)
Samantha:
Taxable income: $73,000 + $10,000 (other income) = $83,000
Tax calculation:
$18,200 (tax-free threshold)
$18,201 - $45,000: 19% tax rate
$45,001 - $120,000: 32.5% tax rate
Tax liability: ($18,200 x 0%) + (($45,000 - $18,201) x 19%) + (($83,000 - $45,001) x 32.5%)
Beth:
Taxable income: $73,000
Tax calculation:
$18,200 (tax-free threshold)
$18,201 - $45,000: 19% tax rate
Tax liability: ($18,200 x 0%) + (($45,000 - $18,201) x 19%)
To minimize tax, the trust can distribute the income in a way that utilizes each beneficiary's tax brackets effectively. Since Beth has no other income, it would be tax-efficient to allocate a portion of the income to her up to the amount of the tax-free threshold ($18,200). This portion would be tax-free. The remaining income can be distributed to Fred and Samantha in a way that optimizes their tax brackets, considering the marginal tax rates for each bracket. This distribution should be done within the limits of the trust deed and in accordance with the trustee's discretion.
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Would you be more likely to get solar panels on your home or an electric vehicle because of tax incentives? Why or why not?
Answers
Answer:
I would most likely do solar panels because the addition of a solar energy system to your home doesn't increase the assessed value of your home. As a result, your property taxes don't go up.
Explanation:
For effective price discrimination to occur, a seller must:
Answers
Answer:
In order for effective price discrimination to occur, the seller must have a downward sloping demand curve.
Explanation:
The seller must also have at least two identifiable groups of customers with price elasticities of demand for the product, and the seller must be able to prevent customers from reselling the product.
help me now please and thank you
Answers
Answer:
3000
Explanation:
Tai works in an office at his place of employment; however, most of the day he is found at other computers working. In which career pathway would this be a typical workplace? Network Systems Programming and Software Development Information Support and Services Interactive Media.
Answers
The career pathway that would be a typical workplace for Tai is C. Information Support and Services.
What are Information Support and Services?Information Support and Services encompass the following career pathways:
Information technology deploymentImplementation of computer systems and softwareDatabase managementProvision of technical assistanceManaging information systems.Thus, Tai's career pathway leads him to Information Support and Services.
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Answer:
Information Support and Services and c
Explanation:
edge 2022
the East business segment had sales revenues of $280,000, variable expenses of $155,000, and traceable fixed expenses of $35,000. During the same month, the West business segment had sales revenues of $950,000, variable expenses of $496,000, and traceable fixed expenses of $181,000. The common fixed expenses totaled $270,000 and were allocated as follows: $135,000 to the East business segment and $135,000 to the West business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the East business segment is
Answers
Segmented Income Statement in contribution format of the East and West business segment are as follows:East Business SegmentWest Business Segment Sales Revenue $280,000$950,000
Variable Expenses $(155,000)$(496,000)Contribution Margin $125,000$454,000Traceable Fixed Expenses $(35,000)$(181,000)Segment Margin $90,000$273,000Common Fixed Expenses $(135,000)$(135,000)Net Income $ (45,000)$138,000Therefore, the segment margin of the East business segment is $90,000.
We calculate the segment margin by subtracting the traceable fixed expenses from the contribution margin. In the East business segment, the traceable fixed expenses are $35,000 and the contribution margin is $125,000.The segment margin is $90,000.
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When schools and businesses allocate admissions or jobs on the basis of race, gender, disability, or other criteria unrelated to ability, they are aiming at Group of answer choices
Answers
When schools and businesses allocate admissions or jobs on the basis of race, gender, disability, or other criteria unrelated to ability, they are aiming at Affirmative Action. Group of answer choices Affirmative Action is a policy by which schools and businesses allocate admissions.
Jobs on the basis of race, gender, disability, or other criteria unrelated to ability to counteract past discrimination and increase diversity in the workplace and schools. It is intended to create a level playing field for people of different races, genders, and abilities by providing them with equal opportunities and removing obstacles that prevent them from succeeding.
It also ensures that qualified candidates from underrepresented groups are given a fair chance to compete for positions and educational opportunities. When schools and businesses allocate admissions or jobs on the basis of race, gender, disability, or other criteria unrelated to ability, they are aiming at Affirmative Action. Group of answer choices Affirmative Action is a policy by which schools and businesses allocate admissions.
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On which section of the application would a borrower be asked to attest to legal issues that could impact repayment ability, such as outstanding judgments, tax liens or delinquencies on other debts?
Section I
Declarations
Assets and Liabilities
Information for Government Reporting
Answers
A borrower would be asked to attest to legal issues that could impact repayment ability on the section of the application called "Information for Government Reporting."
Understanding Information for Government ReportingThis section is usually located towards the end of the loan application and includes questions related to the borrower's personal and financial background.
Lenders need to gather information on outstanding judgments, tax liens, or delinquencies on other debts as part of their risk assessment process to determine the borrower's ability to repay the loan.
By attesting to these legal issues, the borrower acknowledges that they have disclosed all relevant information to the lender and that any misrepresentation could result in legal consequences.
It is important for borrowers to be honest and transparent about any legal issues that may impact their ability to repay the loan. Lenders may deny the loan application or require additional documentation or collateral to mitigate the risk associated with these legal issues.
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Ethan is developing a magazine ad he writes an attention-getting headline and body copy that will engage readers he places the company's logo near the bottom of the ad what is another basic part of print advertising that he should consider including?
Answers
A call to action is the second fundamental component of print advertising that Ethan have to think about incorporating.
Print advertising, such as in magazines, newspapers, or flyers, is a powerful tool for businesses to reach out to potential customers. It has been used for centuries, and is still relevant today despite the growth of digital advertising. To make the most of print advertising, there are several basic parts that should be included in the design, such as an attention-getting headline, body copy that will engage readers, company logo, and a call to action.
It can be a phone number, email address, website, or coupon code, among other things. A good call to action will help to increase the effectiveness of the print advertisement by encouraging readers to take the next step towards making a purchase or contacting the company.
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True or false? friction can be used to describe challenges that hold back your internal teams as well as challenges that hold back your customers
Answers
'The Statement is True.
Friction can be used to describe challenges that can hold back your internal teams as well as challenges that hold back your important customers.
The concept of business friction is not come to be new since it is anything that can prevent and dissuades each and every customer from buying your desired products as well as services. On behalf of the customers, friction can be considered as very long wait times for the activity of holding and those particular products that are in a number of out of stock or having any kind of bad experience with a website of a specific company.
In order to remove friction internally, you need a clear evaluation of how teams gonna work together, processes their work, and how accessed data flows. It can remove all kinds of obstacles that can prevent us from getting any critical stuff to be done. We should have a look both at how a business runs well and the one who is running any business.
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what is the motivation for the equal credit opportunity act
Answers
The motivation for the Equal Credit Opportunity Act (ECOA) was to address the widespread discrimination in the lending industry, particularly against women and minority groups. It aimed to promote fair lending practices and ensure equal access to credit opportunities for all individuals.
The Equal Credit Opportunity Act (ECOA) is a federal law in the United States that prohibits credit discrimination based on factors such as race, color, religion, national origin, sex, marital status, age, or receipt of public assistance.
The motivation behind the ECOA was to address the widespread discrimination that existed in the lending industry, particularly against women and minority groups.
Prior to the enactment of the ECOA in 1974, lenders could deny credit or charge higher interest rates based on discriminatory practices.
This created significant barriers for individuals and communities seeking access to credit for various purposes, such as purchasing a home or starting a business.
The ECOA aimed to promote fair lending practices and ensure equal access to credit opportunities for all individuals, regardless of their personal characteristics.
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how do you stay productive in a work environment?
Answers
Here are 5 ways to stay productive in a work environment.
Limit the distractions around you. Take small breaks to help you refocus.Make a schedule with what you need to do each day.Communicate if you need help with something. Make sure you have the supplies you need.I hope this helps you! Good luck! :) Have a nice day!
oh your a rapper, huh?
rhyme orange with banana
Answers
Answer:
I'm not a rapper- but a writer.
Explanation:
So I shall try ^-^
I'm nothing small,
I'm nothing shy.
I like oranges, nanana,
You like bananas.
We're not the same,
we're nothing close.
Wow thats so bad.
purchased her primary residence on March 15, year 4, for $550,000. She sold it on October 15, year 7, for $240,000. What amount of loss from the sale is recognized on her year 7 income tax return
Answers
Answer:
300,000 is the amount of loss from the sale......
chetty, friedman, and rockoff use a teacher switching quasi-experiment to study measures of teacher value-added. (a) what were they trying to demonstrate with the teacher switching quasi- experiment?
Answers
Chetty, Friedman, and Rockoff used a teacher switching quasi-experiment to study measures of teacher value-added.
They aimed to demonstrate the impact of different teachers on student outcomes by analyzing how students performed when they switched between teachers.
The teacher switching quasi-experiment was conducted to examine the effects of teacher quality on student achievement. By analyzing cases where students were assigned to different teachers due to various factors (such as grade level changes or teacher turnover), the researchers could observe changes in student outcomes before and after the teacher switch.
By comparing the performance of students under different teachers, the researchers aimed to determine the extent to which individual teachers contribute to student growth and academic achievement.
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A country has a trade deficit of $20 billion with its trading partners (
year. Which change would cause the country to have a trade surplus the
following year, assuming everything else remains the same?
A. The country increases its exports by $30 billion.
B. The country increases its imports by $30 billion.
C. The country decreases its exports by $10 billion.
D. The country decreases its imports by $10 billion.
Answers
D) The nation reduces its exports by $30 billion, the change would result in a trade deficit the following year for the country that had a trade surplus of $20 billion in one year.
When imports rise faster than exports, a trade deficit occurs. If the country increases its exports by $30 billion, decreases its imports by $10 billion, or increases its imports by $10 billion, it cannot have a trade deficit.
As a result, the country will only experience a trade deficit if its exports decrease by $30 billion while the rest of its exports remain unchanged.
With an example, what is a trade deficit?A country has a trade deficit when its imports exceed its exports over a given time period. A negative balance of trade (BOT) is another name for this situation. There are several ways to determine the balance, including: goods (also called " merchandise”), goods and services, and services and goods.
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Full Question = A country has a trade surplus of $20 billion with its trading partners over a
year. Which change would cause the country to have a trade deficit the
following year, assuming everything else remains the same?
A. The country increases its exports by $30 billion.
B. The country decreases its imports by $10 billion.
O C. The country increases its imports by $10 billion.
O D. The country decreases its exports by $30 billion.
Which is a formatting characteristic of a full-block business letter?.
Answers
Answer:
In a full block business letter, every component of the letter heading, address, salutation, body, salutation, signature, identification, enclosures is aligned to the left. Also first sentences of paragraphs are not indented.
Explanation:
hope this helps
(Algo) Activity-based costing for a service provider LO P4 Silver Law Firm provides litigation and mediation services. The company reports the following overhead cost data for the year. It worked on 50 litigation cases and 55 mediation cases during this period, Budgeted Cost Activity Budgeted Activity Usage A $ 67,500 375 documents Clerical support Facility services 16,800 2,400 billable hours i client consultations 72,800 28 court dates Activity usage for each service follows. Litigation Total Activity Cost Driver Documents Mediation 175 200 375 Billable hours 900 1,500 5 2,400 28 Court daten 23 Required: 1. Compute an activity rate for each activity using activity-based costing. 2. Compute overhead cost per unit (case) for both litigation and mediation using activity-based costing. Complete this question by entering your answers in the tabs below. Activity Usage Check my work 8 points Pont Documents 200 175 375 Billable hours 900 1,500 2,400 28 Court dates 23 Required: 1. Compute an activity rate for each activity using activity-based costing 2. Compute overhead cost per unit (case) for both litigation and mediation using activity-based costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute an activity rate for each activity using activity-based costing. (Round "Activity rate" to 2 decimal places) Activity Budgeted Cost Budgeted Activity Usage Activity Rate Clerical support Facility services Client consultations Naquired 1 Required 2 > 1 Required 1 Required 2 Compute overhead cost per unit (case) for both litigation and mediation using activity-based costing, (Round "Activity rate" to 2 decimal places.] Allocate overhead costs to litigation using activity-based costing Activity Activity Usage Activity Rate Allocated Cust Clerical support Facility services Dok Client consultations Ant Total allocated cost ences Units produced (cases) Overhead cost per case Allocate overhead costs to mediation using activity-based costing Activity Rate Allocated Cost Activity Activity Usage Clerical support Facility services Client consultations Total allocated cost Units produced (cases) Overhead cost per case < Required 1 Check my work
Answers
Activity-based costing calculates overhead costs based on specific activities performed. The activity rates are determined by dividing the budgeted cost by the budgeted activity usage. Overhead cost per unit is then computed by allocating costs based on the activity rates.
To compute the activity rate for each activity using activity-based costing, we need to divide the budgeted cost for each activity by its corresponding budgeted activity usage.
1) Activity Rate for Clerical Support:
Activity Budgeted Cost Budgeted Activity Usage Activity Rate
Clerical Support $16,800 375 documents = $44.80 per document
2) Activity Rate for Facility Services:
Activity Budgeted Cost Budgeted Activity Usage Activity Rate
Facility Services $72,800 2,400 billable hours = $30.33 per billable hour
3) Activity Rate for Client Consultations:
Activity Budgeted Cost Budgeted Activity Usage Activity Rate
Client Consultations $67,500 28 court dates = $2,410.71 per court date
Now, we can compute the overhead cost per unit (case) for both litigation and mediation using activity-based costing.
Allocate overhead costs to litigation using activity-based costing:
Litigation:
Activity Usage Activity Rate Allocated Cost
Clerical Support 175 documents $44.80 per document $7,840
Facility Services 900 billable hours $30.33 per billable hour $27,297
Client Consultations 23 court dates $2,410.71 per court date $55,387.33
Total allocated cost for litigation: $90,524.33
Units produced (cases): 50
Overhead cost per case for litigation: $90,524.33 / 50 = $1,810.49
Allocate overhead costs to mediation using activity-based costing:
Mediation:
Activity Usage Activity Rate Allocated Cost
Clerical Support 200 documents $44.80 per document $8,960
Facility Services 1,500 billable hours $30.33 per billable hour $45,495
Client Consultations 28 court dates $2,410.71 per court date $67,576.88
Total allocated cost for mediation: $122,031.88
Units produced (cases): 55
Overhead cost per case for mediation: $122,031.88 / 55 = $2,218.94
Therefore, the overhead cost per unit (case) for litigation using activity-based costing is $1,810.49, and for mediation, it is $2,218.94.
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4.
MATH You plan to start a corporation. You have $67,500 in sav-
ings, but need $165,000 total to begin your business. How much
money will you need from investors? What will be your percent-
age of ownership? If you have four outside investors, how much
will each investor need to invest? What percentage will each
investor own?
Answers
Answer:
1. $97,500
2. 40.9%
3. $24,375
4. 14.77%
Explanation:
Given the following data;
Amount of money owned (Savings account) = $67,500
Total amount required = $165,000
To find the amount needed from investors to start the business;
Let the balance = X
\( Total = Savings + X\)
Substituting into the equation, we have;
\( 165,000 = 67,500 + X\)
\( X = 165,000 - 67500\)
X = $97,500
To find the percentage of ownership;
Percent ownership = savings/total * 100
Substituting the values into the equation;
\( Percent \; ownership = \frac {67500}{165000} * 100\)
\( Percent \; ownership = 0.409 * 100\)
Percent ownership = 40.9%
To find the amount to be invested by each of the four investors;
Investor = X/4
Substituting into the equation, we have
Investor = 97500/4
Investor = $24,375
Therefore, each of the investors will need to invest $24,375.
Percentage for each investor;
\( Percent = \frac {24375}{165000} * 100\)
Percent = 14.77%
Answer:
1. $97,500
2. 40.9%
3. $24,375
4. 14.77%
Explanation:
Given the following data;
Amount of money owned (Savings account) = $67,500
Total amount required = $165,000
To find the amount needed from investors to start the business;
Let the balance = X
Substituting into the equation, we have;
X = $97,500
To find the percentage of ownership;
Percent ownership = savings/total * 100
Substituting the values into the equation;
Percent ownership = 40.9%
To find the amount to be invested by each of the four investors;
Investor = X/4
Substituting into the equation, we have
Investor = 97500/4
Investor = $24,375
Therefore, each of the investors will need to invest $24,375.
Percentage for each investor;
Percent = 14.77%
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Conflicts of Interest Between Ethical Standards Manuel knows that his company plans to purchase land near his friend Samantha's house and sell it to a developer that would build a large facility that would bring traffic and noise to the currently quiet area. The deal is to remain a company secret until it is made, but Manuel wants to let Samantha know what is going to happen so she can plan for it What conflict of interest is Manuel faced with? What sets of standards conflict here? Type answer here...
Answers
You are valuing the stock of Microsoft Corp. You estimate the fair value of the stock of $270. Currently the stock is trading at $244.37. Your recommendation should be:
Answers
Answer: buy the stock
Explanation:
Fair value refers to the price of an asset that's determined by the buyer and the seller. It's the worth of an asset. The market value is the price an an asset is sold in the marketplace.
By comparing the fair value and the market price, one can know if to invest in a asset or not. Since the fair value is more than the market price, then the should be bought.
Tyrell and Barb bought a commercial investment property in 2009 during the real estate market downturn. Through what year will they be able to depreciate the investment?
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The fact that Tyrell and Barb bought a commercial investment property in 2009 means that they will be able to depreciate the investment till the year 2048.
How long are commercial investment properties depreciated?The U.S. Tax code calls for commercial investment property to be depreciated in a straight-line manner over a 39 year period.
The year in which Tyrell and Barb can depreciate to is therefore:
= 2009 + 39 years
= 2048
In conclusion, they can depreciate the commercial property till 2048.
Find out more on commercial property investment depreciation at https://brainly.com/question/13650890.
If Pertino Inc. has a debt ratio of 40 percent, it means that for every $1 in _____, the firm has 40 cents in _____.
Answers
If Pertino Inc. has a debt ratio of 40 percent, it means that for every $1 in asset , the firm has 40 cents in debt.
What is the debt ratio?The debt ratio is a financial ratio that is used to determine the solvency of a company. Financial ratios use information from the balance sheet, income statement and statement of cash flows of a business to determine the financial health of a company.
It is a ratio of total debt to total asset. It is determined by dividing total debt by total asset. The lower debt ratio is, the lower the financial risk of a company. The debt ratio is an example of a solvency ratio.
Debt ratio = total debt / total asset
0.4 = 0.4 / 1
To learn more about debt ratio, please check: brainly.com/question/14553933
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