Answers
The total amount of depreciation expense paid for each capital asset since the time it was used by a business is called accumulated depreciation.
It basically refers to the total amount of an asset's depreciation throughout its lifespan.
How would we work out gathered devaluation?The accumulated depreciation is the sum of all depreciation since the purchase, while the depreciation expense is the amount recognized each period. Contra assets include the accumulated depreciation account because it is a credit-balanced asset.
31st August 2021 Cash $498,800
Accumulated Depreciation - Machine ($417,600+ $46,400) $464,000
Loss on Disposal of Machinery ($1,508,000 – $464,000 – $498,800) $545,200
Machinery $1,508,000 (To record loss of machine)
Depreciation Expense ($69,600*8/12) $46,400
Accumulated Depreciation - Machine $46,400 (To record current dep.)
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Full Question = during year 1 yvoon December 31 2020, pearl inc has a mahcine with a book value of 1353600. the original cost and related accumulated depreciate at this date are as follows. machine 1872000 less: accumulated depreciation 518400? How would we work out gathered devaluation?
Related Questions
Based on the outcome of the simulation, was the sale price you set the same as the equilibrium price? Refer to the supply and demand model to explain why they might be different.
Imagine that you own your own business. How would price elasticity of demand impact the pricing decisions of your business?
What are the determinants of price elasticity of demand? Identify at least three examples.
Answers
The sale price will differ from the equilibrium price. This is because the sale price is determined by adding up all related costs and the profit required to sustain in the business environment, whereas the equilibrium price is determined by the free forces of demand and supply of the product.
What is equilibrium price?Equilibrium price is equal to point at which demand and supply curve intersect.
Price elasticity of demand has a significant impact on business pricing decisions. If a product, such as a necessary good, is inelastic, the producer can easily raise the price because a change in price has no effect on the quantity demanded. People are willing to pay any price for necessary goods.
But if business is dealing with luxury products , price elasticity of demand is highly elastic. With rise in price, it experiences fall in demand of products with large quantity. During this situation, price decision cannot be taken freely.
Determinants of price elasticity of demand :-
Goods are essential nature or luxury natureEg : Medicines, food and clothing are essential products.
High brands like adidas, Jaguar , Audi, BMW , designer brands like Gucci , Ted Baker are luxury brands.
Availability of substitutes.Eg : Tea and Coffee , Adidas and Nike have close substitutes.
Railways services, Gasoline have no close substitutes.
Proportion of income spend by customers.Eg : Salt , Matchbox, spices etc.
Therefore both the sale price and equilibrium price cannot be same. It is also concluded that above were factors affecting price elasticity of demand and was all about sale price and equilibrium price.
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Which examples demonstrate common education and qualifications for Counseling and Mental Health Services careers? Check all that apply.
1. Soo uses leadership skills to guide a group of people in religious worship.
2. Jacqueline stays calm even when counseling patients who are angry or upset.
3. Brent uses math skills to help people fill out financial paperwork.
4. Nakisha provides therapy to families and has a master’s degree in Psychology.
5. Tao pays close attention to what patients say and how they behave during counseling sessions.
6. Adam lifts and carries young children while playing with them outdoors.
Answers
Answer:
Jacqueline, Nakisha, Tao or B, D, E
Explanation:
got it right
Answer:
B. Jacqueline stays calm even when counseling patients who are angry or upset.
D. Nakisha provides therapy to families and has a master’s degree in Psychology.
E. Tao pays close attention to what patients say and how they behave during counseling sessions.
Explanation:
edge 2021 :)
stay safe and good luck <3
How does earned income, like wages, differ from unearned income, like interest or rental
income? How would you pay taxes on these different types of income?
Answers
Answer:
Your tax liability is based on your overall income, so it's important to understand the different types of income and how the IRS treats them. Earned income and unearned income each include diverse forms of payments and have unique tax implications.
Explanation: Hope this helps <3
pls help i will give branlyist
Choose a specific administrative support job. Then explain the type of multitasking a person might have to do in that job.
Give an example of a clear subject line for an email and an unclear subject line. Then explain why the clear subject line is better.
Answers
The administrative position of human resources entails multiple tasks, including payroll, hiring, recruiting, preserving the work environment, and others.
Describe human resources.?Human resources professionals hire, interview, and screen job prospects as well as designate positions for newly hired personnel. They could also be in charge of pay and benefits, employee relations, and training. Professionals in labor relations supervise and assess employment contracts.
Processing payroll, writing job descriptions, establishing workplace norms, and purchasing benefits are all common HR administration tasks.
Thus, the administrative position is in human resources.
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look at the screenshot
a,b, or c
Answers
Answer:
A
Explanation:
i don't know basta A ang napili ko
Explain the positive and negative aspects of entrepreneurship. Draw evidence to support your claim from two other sources.
Answers
Answer:
Advantage #1: A flexible schedule – both in terms of when and where you work. ...
Advantage #3: It's exciting and fulfilling. ...
Advantage #4: The salary makes sense. ...
Disadvantage #1: You wear a lot of hats. ...
Disadvantage #2: You are always at work.
Explanation:
The positive (advantages) and negative aspects (disadvantages) of entrepreneurship are enumerated below:
Control: Entrepreneurship offers the entrepreneur a sense of being in charge and being the captain of the ship. With freedom of control comes increased risk of business failure.Responsibility: The entrepreneur is responsible for her income for life sustenance. There is no more reliance on a period paycheck. The entrepreneur can decide to delight her customers or to scare them away.Flexibility: The entrepreneur enjoys flexibility in work schedule. She works at her own pace. The downside is that your customers dictate when you work. The workload may increase more than your capacity to handle. Thus, flexibility does not happen always until you have established the business properly.Profit-making: As the business makes profits, the entrepreneur is entitled to receive all. When it makes losses, the entrepreneur similarly bears all.Thus, there are numerous benefits in being an entrepreneur. But there are also negative aspects of entrepreneurship.
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Which of the following problems are likely to be encountered in distribution?
i) Spoilage of goods
ii) Inadequate warehousing
iii) Ineffective communication
Answers
You need enough to meet your sales demands, so run some numbers on how much you need to meet these demands.
You need to have good communication with your employees, employers, and investors. If you don’t, things can go terribly wrong! Make sure you don’t make this rookie mistake! Set up something so you have good communication with the people you work with.
Good luck!!!
A refrigerator costs $800 on an installment plan that requires a down payment of $140 and monthly payments for 12 months. What are the monthly payments of the plan?
Answers
The reasoning for this would be that after taking out the $140 down payment from the $800 would leave you with $660 once you get that number you divide it by 12. Which would give you your monthly payment of $55 per month.
Anita wants to start an online business and not use her real name. What type of form
will Anita need to complete when opening a business? Choose the answer.
corporation
franchise
DBA (doing business as)
trademark
Answers
Answer:
trademark
Explanation:
Perpetual Inventory Using Weighted Average
Beginning inventory, purchases, and sales for WCS12 are as follows:
340 units at $10
200 units
360 units at $11
400 units
Oct. 1
13
22
29
Inventory
Sale
Purchase
Sale
a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to
two decimal places.
per unit
b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal
places.
$
c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places
Answers
Perpetual Inventory can be calculated as follows:
a. Weighted average unit cost after the October 22 purchase:
Beginning inventory:
340 units at $10 = $3,400
Purchases:
200 units at $10 = $2,000
360 units at $11 = $3,960
Total units: 340 + 200 + 360 = 900 units
Total cost: $3,400 + $2,000 + $3,960 = $9,360
Weighted average unit cost = Total cost / Total units
=$9,360 / 900 units
≈ $10.40 (rounded to two decimal places)
b. Cost of goods sold on October 29:
Units sold: 400 units
Cost of goods sold = Units sold * Weighted average unit cost
= 400 units * $10.40
= $4,160
c. Inventory on October 31:
Remaining units: 100 units (900 units - 400 units)
Weighted average unit cost (from part a): $10.40
Inventory value = Remaining units * Weighted average unit cost
= 100 units * $10.40
= $1,040
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Develop a managerial report (1,000-1,250 words) summarizing your analysis of the OEI service capabilities. Make recommendations regarding the number of technicians to be used when OEI reaches 20 and then 30 customers, and justify your response. Include a discussion of the following issues in your report:
What is the arrival rate for each customer?
What is the service rate in terms of the number of customers per hour? (Remember that the average travel time of 1 hour is counted as service time because the time that the service technician is busy handling a service call includes the travel time in addition to the time required to complete the repair.)
Waiting line models generally assume that the arriving customers are in the same location as the service facility. Consider how OEI is different in this regard, given that a service technician travels an average of 1 hour to reach each customer. How should the travel time and the waiting time predicted by the waiting line model be combined to determine the total customer waiting time? Explain.
OEI is satisfied that one service technician can handle the 10 existing customers. Use a waiting line model to determine the following information: (a) probability that no customers are in the system, (b) average number of customers in the waiting line, (c) average number of customers in the system, (d) average time a customer waits until the service technician arrives, (e) average time a customer waits until the machine is back in operation, (f) probability that a customer will have to wait more than one hour for the service technician to arrive, and (g) the total cost per hour for the service operation.
Do you agree with OEI management that one technician can meet the average 3-hour service call guarantee? Why or why not?
What is your recommendation for the number of service technicians to hire when OEI expands to 20 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What is your recommendation for the number of service technicians to hire when OEI expands to 30 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What are the annual savings of your recommendation in Question 6 (above) compared to the planning committee's proposal that 30 customers will require three service technicians? (Assume 250 days of operation per year.) How was this determination reached?
Answers
The purpose of this research is to examine the service proficiency of OEI and suggest suitable staffing levels for accommodating a growing clientele of 20 and 30.
1. Arrival Rate for Each Customer: 1.25 customers per hour.
2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.
3. Travel Time and Waiting Time: The waiting time starts from the moment the customer contacts OEI until the machine is back in operation, including both travel and repair time.
What is the managerial report1. Arrival Rate for Each Customer: 1.25 customers per hour.
Based on historical data, the arrival rate for each customer is calculated by dividing the total number of customers by the total time. let us say that OEI receives an average of 10 customers per day, and the service operates for 8 hours a day. So, the arrival rate per customer is:10 customers / 8 hours
= 1.25 customers per hour.
2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.
The service rate takes into account the time required to complete a repair, including travel time. OEI estimates that each service call takes approximately 1 hour for travel time and 2 hours for the actual repair. So, the service rate is:1 customer / 3 hours
= 1/3 customers per hour.
3. Travel Time and Waiting Time:
OEI is different from traditional waiting line models since service technicians need to travel an average of 1 hour to reach each customer. In this case, the travel time and waiting time predicted by the waiting line model should be combined to determine the total customer waiting time.Learn more about managerial report from
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The 15-year average return for the S&P 500 from January 1973 to December 2016 (29 separate 15 year periods) was as high as a 20% average annual return and as low as a 3.7% average annual return. Additionally, the average dividend yield for the S&P is 4.11% and the average annual dividend growth rate is 6.11%.
Using this information, please compare the investment in the 5% 15-year corporate bond with a $100,000 investment in a stock with a 3.7% dividend yield (10 percent less than the S&P 500 average yield) and a 3% dividend growth rate (50 percent of the S&P 500 dividend growth rate).
The annual investment returns are as follows:
Year 1 (13.40%) Year 2 (23.37%) Year 3 26.38% Year 4 8.99%
Year 5 3.00% Year 6 13.62% Year 7 3.53% Year 8 (38.49%)
Year 9 23.45% Year 10 12.78% Year 11 0.00 Year 12 13.41%
Year 13 29.60% Year 14 11.39% Year 15 (0.73%)
The bond interest payment of 5 percent is paid annually and not reinvested. To compare accurately with the bond investment, the stock dividend will not be reinvested, but paid annually as well.
Please calculate the value of the stock account at the end of each year and the dividend income from the stock on an annual basis.
Once you have performed the calculations, please let me know if you prefer to invest in a 5% corporate bond for 15 years or the stock and why.
What is the value of the stock after year 2? Year 8? Year 11? When does the annual dividend income of the stock exceed the annual interest income of the bond?
Answers
1. The value of the stock account after Year 2 is $155,401.626.
2. The value of the stock account after Year 8 is $96,110.0674.
3. The value of the stock account after Year 11 is $96,110.0674.
4. The annual dividend income of the stock exceeds the annual interest income of the bond at the end of Year 15.
Bond interest rate: 5%
Stock dividend yield: 3.7% (10% less than S&P 500 average yield)
Stock dividend growth rate: 3% (50% of S&P 500 dividend growth rate)
We'll assume an initial investment of $100,000.
Year 1:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $100,000 + ($100,000 * 0.2337) = $123,370
1. Year 2:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $123,370 + ($123,370 * 0.2638) = $155,401.626
2. Year 8:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $155,401.626 + ($155,401.626 * (-0.3849)) = $96,110.0674
3. Year 11:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $96,110.0674 + ($96,110.0674 * 0) = $96,110.0674
4. At the end of Year 15, the dividend income of the stock exceeds the interest income of the bond.
Stock dividend income: $100,000 * 0.037 = $3,700
Bond interest income: $100,000 * 0.05 = $5,000
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The adjusted trial balance of Bramble Corp. at December 31, 2019, includes the following accounts:
Common Stock $16,700
Dividends $7,300
Service Revenue $37,900
Salaries and Wages Expense $16,000
Insurance Expense $2,900
Rent Expense $3,400
Supplies Expense $2,500
Depreciation Expense $1,700
Required:
Prepare an income statement for the year.
Answers
Answer:
$11,400
Explanation:
Income Statement
For the year ended December 31, 2019
Particulars Amount
Revenues
Service revenue $37,900
Expense
Salaries & wages expense $16,000
Insurance expense $2,900
Rent expense $3,400
Supplies expense $2,500
Depreciation expense $1,700
Total expenses $26,500
Net income (loss) $11,400
Which of these are advantages of increasing your market
share? (Select three answers.)
Building your reputation
Inspiring competition
Limiting capacity
Lowering costs through economies of scale
Increasing sales in slow markets
Unprofitable customers
Answers
Answer:
The three advantages of increasing market share are as follows:
Explanation:
1. Building your reputation:
Reputation in business terminology is called "Goodwill". Goodwill is measured in monetary terms and is shown on the assets side of the balance sheet. Higher goodwill indicates a higher reputation of the firm which in turn attracts potential buyers of the shares.
2. Lowering costs through economies of scale:
Lowering costs through economies of scale maximizes the profit, and the higher profits higher the dividends, and the higher dividends increase the demand for shares in the market.
3. Inspiring competition:
Inspiring competition tells the external and internal users of the company what makes them different from its competitors and when you stand unique from others in the market the market price of the share increases.
Amazon is the dominant firm in the online shopping service industry, which has a total market demand given by Q = 100 – 2 P. Amazon has competition from a fringe of four small firms that produce where their individual marginal costs equal the market price. The fringe firms each have total costs given by TCi = 10 Qi + Q i 2. If Amazon’s total costs are given by TCA = 10 + 10 QA, , how much does the industry as a whole produce at this price?
Answers
The price that Amazon has to establish for their online shopping should be $20.
The Excel financial functions section includes the Price Function. It will determine the cost of a bond with a $100 face value that accrues interest on a recurring basis. The PRICE function in financial analysis can be helpful when we want to borrow money by selling bonds rather than stocks.
We have the price function as
P = 10 + 2Qi
Make Qi subject
= Qi = 0.5P - 5
4 firms with identical features
This would give us
Qs = 4Qi
Qs = 4(0.5P -5)
Qs = 2p - 20
Q = 100 - 2p
Qa = Q - Qs
(100 - 2P) - (2P -20)
Take like terms
100 - 2p - 2p + 20
100 - 4p + 20
Qa = 120 - 4p
Make p subject
p = 120 - Qa / 4
p = 30 - 0.25Qa
TRa = p*Qa
= (30 - 0.25Qa)Qa
= 30Qa - 0.25Qa²
MRa
= 30 - 0.5Qa
TCA = 10 + 10QA
= ΔTCA / ΔQA
= 10
30 - 0.5QA = 10
Take like terms
30 - 10 = 0.5Qa
divide through by 0.5
20/0.5 = Qa
40 = Qa
Output produced = 40.
We have P as
30 - 0.25QA
P = 30 - 0.25( *40)
= 20
Hence the price that Amazon has to establish for online shopping should be $20
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You overhear a group of your co-workers laughing at some crude jokes about a few customers. Which of the following would you most likely do?
Answers
Answer: Tell your manager about this offensive behavior.
Explanation:
If I overhear a group of your co-workers laughing at some crude jokes about a few customers, the most likely thing for me to do will be to inform my manager about this offensive behavior.
Customers are vital to every business and should be treated right, without the customers, there isn't any business at all. Therefore, I'll inform my manager so that he'll have an idea of what is going on and then call them to order and explain to them that customers should be treated right and respected.
Which function of marketing stimulates sales, encourages customer loyalty, and communicates methods of payment?
Answers
One key function of marketing that stimulates sales, encourages customer loyalty, and communicates methods of payment is promotion.
Promotion is an integral part of the marketing mix and involves various activities aimed at creating awareness, generating interest, and influencing customers' purchasing decisions.
Through promotional strategies such as advertising, sales promotions, public relations, and direct marketing, businesses can effectively communicate the benefits and value of their products or services to the target audience. This creates a sense of urgency and drives sales by enticing customers to make a purchase.
Moreover, promotions can be designed to foster customer loyalty by offering exclusive discounts, rewards, or loyalty programs. These initiatives not only incentivize repeat purchases but also enhance the overall customer experience, fostering long-term relationships with the brand.
Additionally, promotions often include clear messaging about different methods of payment accepted by the business. By communicating convenient and flexible payment options, such as credit cards, online payments, or installment plans, customers feel empowered and informed about how to complete their transactions.
In summary, promotion plays a vital role in stimulating sales, cultivating customer loyalty, and effectively communicating methods of payment, thereby contributing to the overall success of a marketing strategy.
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ou are considering a project with cash flows of $16,500, $25,700, and $18,000 at the end of each year for the next three years, respectively. What is the present value of these cash flows, given a discount rate of 9.7 percent
Answers
Answer:
Total PV= $50,032
Explanation:
Giving the following information:
$16,500, $25,700, and $18,000
Cf1= $16,500
Cf2= $25,700
Cf3= $18,000
Discount rate= 9.7%
To calculate the present value, we need to use the following formula:
PV= FV/(1+i)^n
Cf1= 16,500/(1.097)= 15,041
Cf2= 25,700/1.097^2= 21,356
Cf3= 18,000/1.097^3= 13,635
Total PV= $50,032
Which of the following is an example of architecture technology?
A: GPS devices
B: Blueprints
C: Prototypes
Answers
Answer:
prototypes
Its a screen that can design tools.
Based on the principles of psychological pricing, which of the following price adjustment would likely have the greatest positive impact on sales? A. From $51.50 to $51.45, B. From $51 to $50, C. From $58 to 56, D. From $50 to $49
Answers
Based on the principles of psychological pricing, a $50 to $49 price adjustment will likely have the greatest positive impact on sales.
Setting prices below a whole number is referred to as psychological pricing. For instance, $3.99 is perceived as "cheaper" than $4. Customers are expected to view the marginally reduced price as a bargain and be encouraged to make the purchase.
The primary goal of psychological pricing is to boost sales. Maximizing profits for the services and goods a business provides requires employing a variety of strategies or sticking with one that has been consistently shown to be effective.
Hence, the correct answer is "D" option
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Answer:
$50-$49
Explanation:
2.- Regarding Money Laundering issues:
a) A cross-border intra-firm loan should be considered as a placement stage step
b) The transfer from a bank account for the buy-to-rent of a building, with the intention
to steadily report the income obtained, should be considered as a placement stage
c) Mixing unreported income from illegal sources with the legal profits of a business is
an example of the integration stage
d) All the previous options are TRUE
e) All the previous options are FALSE
Answers
As regards money laundering issues, d) All the previous options are TRUE
What is money laundering ?Money laundering refers to the process of disguising the proceeds of illegal activity as legitimate funds. It involves three stages: placement, layering, and integration.
A cross-border intra-firm loan should be considered as a placement stage step: Placement refers to the initial introduction of illicit funds into the financial system. In this stage, the launderer seeks to find a way to get the illicit funds into the financial system without attracting attention. A cross-border intra-firm loan, in which a company loans money to itself or to a related company in another country, could be used as a way to place illicit funds into the financial system without attracting attention.
The transfer from a bank account for the buy-to-rent of a building, with the intention to steadily report the income obtained, should be considered as a placement stage. Therefore, all the options are correct.
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Your friend Stan owns a coffee shop in a monopolistically competitive industry. One day, Stan tells you (an economist) that he is earning an economic profit and is setting his price equal to his marginal cost. Is Stan producing the profit-maximizing amount of coffee? What should he do?
Answers
In a monopolistically competitive industry, each firm has some control over the price it sets due to product differentiation.
Stan mentioned that he is earning an economic profit and setting his price equal to his marginal cost. To determine whether he is producing the profit-maximizing amount of coffee, we need to consider a few factors.
1. First, let's understand the relationship between price, marginal cost, and profit maximization. In a competitive market, profit maximization occurs where marginal cost equals marginal revenue. However, in monopolistic competition, firms have some market power, so the profit-maximizing quantity occurs where marginal cost equals marginal revenue, not price.
2. Setting the price equal to marginal cost does not necessarily guarantee profit maximization. If Stan's price is equal to marginal cost, it means that he is covering his variable costs, but it does not take into account his fixed costs. To maximize profit, Stan should set his price above marginal cost, considering both variable and fixed costs.
3. If Stan is currently earning an economic profit, it suggests that he may not be producing the profit-maximizing amount of coffee. In monopolistic competition, firms tend to have excess capacity, meaning they produce less than the quantity that would minimize average total cost. By increasing his output, Stan may be able to reduce his costs and increase his profit.
Considering these factors, here are a few suggestions for Stan:
- Conduct a cost analysis: Stan should evaluate his fixed and variable costs to understand the full picture of his expenses. By knowing his costs, he can set a more informed price and determine the profit-maximizing quantity.
- Consider demand elasticity: Stan should also assess the price elasticity of demand for his coffee. If demand is relatively elastic, a small price increase may result in a significant decrease in quantity demanded, potentially reducing his profits. On the other hand, if demand is inelastic, Stan may be able to increase his price without a significant drop in sales.
- Experiment with pricing: Stan could consider experimenting with different prices to find the optimal point that maximizes his profit. By monitoring customer response to different prices, he can identify the price that generates the most revenue while covering his costs.
By taking these steps and considering the unique characteristics of monopolistic competition, Stan can better position his coffee shop for long-term success and profitability.
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Trak Corporation incurred the following costs while manufacturing its bicycles.
Bicycle components $100,000 Advertising expense $45,000
Depreciation on plant 60,000 Property taxes on plant 14,000
Property taxes on store 7,500 Delivery expense 21,000
Labor costs of assembly-
line workers 110,000 Sales commissions 35,000
Factory supplies used 13,000 Salaries paid to sales clerks 50,000
Identify each of the above costs as direct materials, direct labor, manufacturing overhead, or period costs.
Bicycle components
Depreciation on plant
Property taxes on store
Labor costs of assembly-line workers
Factory supplies used
Advertising expense
Property taxes on plant
Delivery expense
Sales commissions
Salaries paid to sales clerks
Answers
Answer:
Required: Identify the costs as direct materials, direct labor, manufacturing overhead, or period costs.
They are classified below:
Bicycle components: DIRECT MATERIALS
Depreciation on plant: MANUFACTURING OVERHEAD
Property taxes on store: PERIOD COST
Labor costs of assembly-line workers: DIRECT LABOUR
Factory supplies used: MANUFACTURING OVERHEAD
Advertising expense: PERIOD COST
Property taxes on plant: MANUFACTURING OVERHEAD
Delivery expense: PERIOD COST
Sales commissions: PERIOD COST
Salaries paid to sales clerks: MANUFACTURING OVERHEAD
Definition of terms used:
Period cost is any cost incurred which was not directly involved during production.
Manufacturing overhead can be said to be indirect costs incurred during production.
Direct labour costs involves payment made to workers involved in production.
Direct materials cost are costs of raw materials used in production.
Therefore,
Bicycle components are classified as direct materials.
Depreciation on plant are classified as manufacturing overhead.
Property taxes on store are classified as period cost.
Labor costs of assembly-line workers are classified as direct labour.
Factory supplies used are classified as manufacturing overhead.
Advertising expense is classified as period cost
Property taxes on plant are classified as manufacturing overhead.
Delivery expenseis classified as period cost.
Sales commissions is classified as period cost.
An invoice is never subject to both trade and cash discounts. true false
Answers
False. Since, an invoice is a subject to both cash and trade discounts.
How does an invoice is a subject to both trade and cash discounts?An invoice, or tab is a commercial document issued by a Seller to a Buyer in connection with a sale transaction, specifying the products, quantities and agreed prices for the products or services provided by the Seller to the Buyer. Payment terms are normally stated on the invoice.
Transaction rebates are not explicitly reflected in the company's books of accounts and all transactions are entered in the sales ledger as a net amount. In contrast, cash discounts on the finance book are shown separately as an expense on the income statement. Not all invoices receive a cash discount. If no cash discount is offered, the invoice issuer will only require full payment. "n/30", for example, indicates that no cash discount applies and the credit period ends 30 days after it started.
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A hypothetical firm called BRICK 'n TILE is specialising in producing bricks at a unit price of R3 and selling at a price of RB. The cost of labour increases from R150 to R200 per labourer. Conduct research on any BRICK 'n TILE firm of your choice on the following: STEP 1 Explain the four basic costs curves that BRICK 'n TILE will experience. STEP 2 Recopy the table below to your answer book and determine the missing values: Table for BRICK 'n TILE costs and revenue. Quantity Labour Fixed Variable Total of tiles units Cost Cost 0 0 50 10 1 20 3 30 5 40 50 60 70 80 90 7 9 10 11 12 50 50 50 50 50 50 50 50 50 (3) Total Profit& Marginal Cost Revenue Loss Revenue (3) (10) (3) (3) (3) (5 x 3)(15)
Answers
For the speculative firm Block 'n TILE, the four essential expense bends they will encounter are Marginal Cost (MC) Curve, Average Total Cost (ATC) Curve, Average Variable Cost (AVC) Curve, and Average Fixed Cost (AFC) Curve.
Marginal Cost (MC) Curve:
The Marginal Cost (MC) Curve: addresses the extra expense brought about by creating another unit of result.
Average Total Cost (ATC) Curve:
The Average Total Cost (ATC) Curve shows the typical expense per unit of result.
Average Variable Cost (AVC) Curve:
The Average Variable Cost (AVC) Curve addresses the variable expense per unit of result.
Average Fixed Cost (AFC) Curve:
The Average Fixed Cost (AFC) Curve addresses the proper expense per unit of result.
These expense bends assist firms with enjoying Block 'n TILE figure out the connection between the degree of creation and the related expenses. They are essential for pursuing creation choices, setting costs, and deciding the company's benefit.
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The four cost curves are displayed in the accompanying graph-
In the price range where demand is inelastic, a decrease in price will result in a decrease in total revenue. True or False?
Answers
Explanation: N/A
B2B marketing requires a special, unique set?
Answers
You have closed an account due to fraudulent activity. What else should you do to BEST protect yourself?
Correct Answer
Change all of your passwords and PINs.
Do not put anything about the closing of the account in writing.
You Answered
Put a permanent credit freeze on your credit report.
Ask for a letter from TransUnion verifying that the account was closed.
CORRECT: change all of your passwords and PINs
Answers
The best course of action to protect yourself after closing an account due to fraudulent activity is to change all of your passwords and PINs associated with your accounts.
The correct action to best protect yourself after closing an account due to fraudulent activity is to change all of your passwords and PINs. This is crucial because the fraudulent activity may have compromised your account credentials, and changing your passwords and PINs helps prevent unauthorized access to your other accounts and personal information.
Putting a permanent credit freeze on your credit report can be a wise step to take, but it is not directly related to protecting yourself after closing an account due to fraudulent activity. A credit freeze restricts access to your credit report and helps prevent new accounts from being opened in your name without your consent. While it is a useful precaution against identity theft, it is not specific to the situation of closing an account.
Asking for a letter from TransUnion verifying the closure of the account may not be necessary, as the account closure itself should already be confirmed by the institution that closed the account. Additionally, requesting such a letter may not provide additional protection against potential fraudulent activity.
To summarize, the best course of action to protect yourself after closing an account due to fraudulent activity is to change all of your passwords and PINs associated with your accounts. This helps ensure that your other accounts remain secure and reduces the risk of further unauthorized access or fraudulent activity.
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Question 5
From which of the following taxes does the federal government get most of their tax revenue?
A Corporate tax
B) Sales tax
Tariffs
Income tax
Answers
Answer:
B. $3,500
Explanation:
The form of tax from which the federal government get most of their tax revenue is the Income tax.
Option D is correct.
What is meant by taxes?Taxes are the financial source of the government through which it gets most of their revenue. It could be direct or indirect in nature.
The income taxes are one of a kind of taxes which are paid by the taxpayers in accordance with the slab rates applicable on their respective taxable incomes. It has to be paid on yearly basis at a specified period of time and if delayed, then the penalty has also been required to be paid.
Therefore, the income taxes are the one which provides maximum revenue to the federal government.
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Reggie, who is 55, had AGI of $35,200 in 2022. During the year, he paid the following medical expenses:
Drugs (prescribed by physicians)
Marijuana (prescribed by physicians)
Health insurance premiums-after taxes
Doctors' fees
Eyeglasses
Over-the-counter drugs
$ 570
1,470
1,280
1,320
445
270
Required:
Reggie received $570 in 2022 for a portion of the doctors' fees from his insurance. What is Reggie's medical expense deduction?
Answers
Reggie's medical expense deduction is $7,276.
AGI, or adjusted gross income, is a person's total income minus certain deductions and is used to calculate taxable income.
Reggie, who is 55 years old, had an AGI of $35,200 in 2022. During the year, he incurred the following medical expenses:
Drugs (prescribed by physicians): $5,701
Marijuana (prescribed by physicians): $1,470
Health insurance premiums-after taxes: $1,280
Doctors' fees: $1,320
Eyeglasses: $445
Over-the-counter drugs: $270
Reggie was reimbursed $570 by his insurance company for a portion of the doctors' fees. To calculate his medical expense deduction, we first need to subtract any reimbursements from his total medical expenses.
Total medical expenses: $5,701 + $1,470 + $1,280 + $1,320 + $445 + $270 = $10,486
Reimbursements: $570
Medical expenses after reimbursements: $10,486 - $570 = $9,916
To claim a medical expense deduction, the expenses must exceed a certain percentage of AGI, which varies depending on the taxpayer's age. For taxpayers who are 65 or younger, the threshold is 7.5% of AGI. For taxpayers who are over 65, the threshold is 7%.
Since Reggie is 55 years old, the threshold is 7.5% of his AGI or $35,200 x 0.075 = $2,640.
Therefore, Reggie can deduct the portion of his medical expenses that exceed $2,640.
Amount of medical expenses that exceed the threshold: $9,916 - $2,640 = $7,276
Therefore, Reggie's medical expense deduction is $7,276.
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