The Morrow Company has assembled the following data pertaining to certain costs that cannot be easily identified as either fixed or variable. Morrow Company has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation. Month Cost Hours January $40,000 3,730 February $37,600 3,200 March $42,800 3,480 April $50,200 5,000 May $68,400 6,000 June $61,200 4,250 What is the estimated total cost at an operating level of 3,400 hours
Answers
Answer:
$39,800
Explanation:
From the question above Morrow company has decided to use the measuring cost function method to find its total cost
- $68,400 is the highest cost and $37,600 is the lowest cost
- 6,000 is the highest number of hours and 3,200 is the lowest
The first step is to calculate the cost driver. Let's use the alphabet c to represent the cost driver
(68,400-37,600) / (6,000-3,200)
c = 30,800/2,800
c= $11
Cost driver= $11
The next step is to find the fixed cost. Let's use the alphabet f to represent the fixed cost
68,400= f + ( 11×6000)
68,400= f + 66,000
f= 68,400-66,000
f= $2,400
Fixed cost= $2,400
The final step is to calculate the cost function
Cost function= fixed costs+variable costs×number of units
Fixed cost= $2,400
Variable cost= $11
Number of units= 3,400 hours
= 2,400+(11×3,400)
= 2,400+ 37,400
= $39,800
Hence the total cost at an operating level of 3,400 hours is $39,800
Related Questions
You manage a risky portfolio with an expected rate of return of 22% and a standard deviation of 34%. The T-bill rate is 6%. Your risky portfolio includes the following investments in the given proportions: Stock A 31 % Stock B 36 % Stock C 33 % Suppose that your client decides to invest in your portfolio a proportion y of the total investment budget so that the overall portfolio will have an expected rate of return of 18%. a. What is the proportion y? (Round your answer to the nearest whole number.) b. What are your client’s investment proportions in your three stocks and the T-bill fund? (Do not round intermediate calculations. Round your answers to 2 decimal places.) c. What is the standard deviation of the rate of return on your client’s portfolio? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Answers
Answer and Explanation:
A.
E(r) = y x R(rp) + (1-y)*rf
0.18 = y * 0.22+(1-y)*0.06
0.18 = 0.22y +0.06 -0.06y
Collect like terms
0.18-0.06 = 0.22y - 0.06y
0.12 = 0.16y
y = 0.12/0.16
= 0.75
= 75%
B.
Stock a = 31% x 0.75
= 0.2325
= 23.25%
Stock b = 36% * 0.75
= 0.27%
Stock c = 33% * 0.75
= 0.2475
= 24.75%
A total of all these stocks gives 100 percent
C.
We have standard deviation = 34%
Y * standard deviation
= 0.75 * 0.34
= 0.255
= 25.5%
why would you use computer-aided design (cad) software?
Answers
Answer:
CAD enables the development, modification, and optimization of the design process. CAD enables the development, modification, and optimization of the design process. Thanks to CAD, engineers can make more accurate representations and modify them easily to improve design quality.
Explanation:
Answer: To re-create the layout of a space before actually moving anything.
Explanation: took the quiz
What are causes and effects of increasing marginal returns?
Answers
Answer:
the extra output or change in total product caused by adding one more unit of variable input. Increasing marginal returns: as long as each new worker contributes more to total output than the worker before, total output rises at an increasing rate.
Explanation:
In one paragraph explain how the US government protects the money you deposit in a bank
Answers
Bank savings accounts, bank CDs, and money market mutual funds administered by brokerage firms like Fidelity are the most popular venues to save cash.
How will my money be safeguarded?The Financial Services Compensation Scheme (FSCS) is the principal form of defence. In case a bank failed, it was designed to protect people's savings
How is the money in a bank secured?One of the many advantages of holding an account with an FDIC-insured bank is deposit insurance, which is how the FDIC safeguards your funds in the unusual case of a bank failure. Every category of account ownership is covered by the basic insurance policy, which provides $250,000 per depositor, each insured bank.
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The production of 0d submarines and 0a hospitals..
A) Increases the available resources
b) is productively efficient given the available resources
c) is productively impossible given the available resources
d) is productively ineffient given the available resources.
Answers
The production of 0d submarines and 0a hospitals is productively in effient given the available resources. The answer is OPTION D.
When a company isn't producing at its lowest possible cost per unit, it exhibits inefficient production. The average cost of production, or unit cost, is calculated by dividing all production costs by the quantity of units produced. An economy might produce a lot of boots with low manufacturing costs.
If they were all for the left foot, it would be allocatively inefficient because no one would profit from this. When a different resource allocation may boost output of any good by even one unit while maintaining the same level of other products, that resource allocation may be deemed inefficient.
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I own this company and I have been running this for the last 10 years. Mia, contact the suppliers at once! Dan, this is not immediately about my decision. leadership style
Answers
Answer:
Authoritarian leadership style
Explanation:
In Authoritarian leadership style, the leader or the head of the team imposes expectations and expects definite results from the team members. An advantage of this form of leadership is that the team can excel with good guidance. At the same time, the disadvantage of Authoritarian leadership style is the forceful impositions of assigned work. Constrained periods provided in the completion of the work reduces the employees interest in the work.
In the given situation, the Authoritarian leadership style has been used. The person delegates the work to the employees and wants an immediate response towards it.
You are on a business trip from Portugal to the United States for 90 days, and you have a per diem expense account of 400 euros, no receipts required. This per diem is advanced to you before the trip (36,000 euros). You deposit it into your checking account and use your Portuguese (euro) credit card to cover your costs while in the United States. After the first two weeks of your trip, the dollar weakens against the euro by 15 percent. What ethical dilemma might this currency fluctuation present for you? How will you handle it?
Answers
The ethical problem is whether to save the extra Euro for personal use and not disclose it to the firm because no receipt is necessary, spend the whole sum of 400 Euros by engaging in other activities, or just return the money.
The activity should be motivated by intent and will adhere to the deontological perspective.
According to this approach, the action should be to spend Euros while on a business trip to obtain additional valuable information for the organization, such as understanding local market conditions, discussions with channel partners, and other activities that go beyond the scope of the business trip within the budget of 400 Euros.
Following that, any Euro saved should be returned to the organization together with a declaration of the dollar's depreciation and any further information obtained.
It will assist the organization in growing and setting a positive ethical example for the personnel, and it will take the utilitarian perspective into account.
Here,
Due to the weakening of the dollar, a less number of euros will be used to buy the same basket of goods and services.
The number of euros required after 2 weeks (after depreciation in dollars) = 400 x .85 = 340 Euros per day
Therefore, the ethical dilemma is whether to spend the entire 400 Euros on other activities, refund the money, or preserve the additional Euro for personal use while keeping it a secret from the company because there is no need for a receipt.
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How do these three rules apply to your life? Explain them in your words and try to think about how they relate to your financial situation. (Hint: Think about how you earn money and how you spend money, also imagine that you have been offered a credit card with a starting line of credit at $1000)
Rule 1 - Don't have debt rise faster than income, because the debt burden will eventually crush you
Rule 2 - Don't have income rise faster than productivity, because you will eventually become uncompetitive
Rule 3 - Do all that you can to raise your productivity, because in the long run that's what matters most
Answers
The three rules below will help individuals achieve financial stability and security, which is critical for living a happy and stress-free life. They can learn new skills, enroll in courses, read books, and so on to increase their productivity levels.
Rule 1: Don't have debt rise faster than income, because the debt burden will eventually crush you.To avoid falling into a debt trap, one should prioritize their spending. It's always a good idea to live within one's means and avoid spending more than they earn.Rule 2: Don't have income rise faster than productivity, because you will eventually become uncompetitive.It's a good idea to focus on increasing productivity to achieve long-term financial stability. One must avoid situations where they are not productive but are earning more money, as this can make them uncompetitive in the long run.Rule 3: Do all that you can to raise your productivity, because in the long run that's what matters most.Productivity is the most critical factor in achieving financial stability. Increasing productivity can lead to higher earnings, which can help you reach your financial goals faster.Individuals must always make efforts to improve their productivity. It's always a good idea to live within one's means, avoid unnecessary debt, increase productivity, and invest in oneself. In conclusion, the above three rules can be beneficial to anyone looking to achieve financial stability.
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Why are production possibilities curves helpful for businesses?
A. They show how many products will need to be sold to earn a
profit.
B. They show how producing one product affects production of
another.
C. They predict how a product's sales will rise and fall over time.
D. They compare production efficiency between multiple companies.
Answers
Answer: B - they show how producing one product affects production of another.
Explanation: Uses comparative advantage to allocate production factors, thus obtaining better efficiency
The cash account for American Medical Co. at April 30 indicated a balance of $89,775. The bank statement indicated a balance of $125,160 on April 30. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items:A. Checks outstanding totaled $31,540.B. A deposit of $18,000, representing receipts of April 30, had been made too late to appear on the bank statement.C. The bank collected $24,075 on a $22,500 note, including interest of $1,575.D. A check for $1,700 returned with the statement had been incorrectly recorded by American Medical Co. as $170. The check was for the payment of an obligation to Targhee Supply Co. for a purchase on account.E. A check drawn for $290 had been erroneously charged by the bank as $920.F. Bank service charges for April amounted to $70.Instructions1. Prepare a bank reconciliation. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Deduct:" or "Add:" will automatically appear if it is required.2. Journalize the necessary entries. The accounts have not been closed. Refer to the Chart of Accounts for exact wording of account titles.3. If a balance sheet is prepared for American Medical Co. on April 30, what amount should be reported as cash?
Answers
Answer:
1. Adjusted bank balance $112,250
Adjusted cash balance $112,250
2.April 30
Dr Cash $24,075
Cr Note receivable $22,500
Cr Interest revenue $1,575
April 30
Dr Accounts payable - Targhee Supply Co $1,530
Cr Cash $1,530
April 30
Dr Bank service charges $70
Cr Cash $70
3. $112,250
Explanation:
1. Preparation of a bank reconciliation
AMERICAN MEDICAL CO.
Bank ReconciliationApril 30
Cash balance according to bank statement $125,160
Add Deposit in transit $18,000
Add Correction of bank error $630
Less Checks outstanding totaled ($31,540)
Adjusted balance $112,250
Cash balance according to company’s records $89,775
Add Bank collection of note and interest 24,075
Less Bank service charges ($70)
Correction of book error ($1,530)
Adjusted balance $112,250
2. Preparation of the journal entries
April 30
Dr Cash $24,075
Cr Note receivable $22,500
Cr Interest revenue $1,575
($24,075-$22,500)
April 30
Dr Accounts payable - Targhee Supply Co $1,530
Cr Cash $1,530
April 30
Dr Bank service charges $70
Cr Cash $70
3. Based on the bank reconciliation the amount that should be reported as cash will be $112,250
List which parts of the website a user doesn't like
Answers
Answer:
what website?
Which of the following often occurs with money and prices when the government prints more money and places it into circulation?
Answers
Note that common tasks are listed toward the top, and less common tasks are listed toward the bottom.
According to O*NET, what are common tasks performed by Foresters? Check all that apply.
Answers
Answer:
ACEF
Explanation:
Just got it right
Answer:
acef
Explanation:
duh.
How to increase a website traffic
Answers
To increase traffic on a website you should be more focused towards your content and how do you present your content.
So, for starters, here are the top ten methods and my recommended tactics :
1. Conduct research and create a list of challenging keywords
2. Sort all of the keywords by importance for better outcomes.
3. Employ seasoned content writers to prepare the content.
4. Make all of the content current and SEO-optimized.
5. Connect all of the pertinent posts together.
6. Switch the website server to a cheap VPS hosting that includes a CDN.
7. Remove all harmful backlinks and GSC-disavow them.
8. Make Contact with Bloggers About Guest Posts in Related Niche.
9. Employ HARO link-building strategies.
10. Export Every GSC Record to Boost Website Traffic.
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what are downstream value chains
Answers
Downstream value chains refer to the stages of production and distribution that occur after the manufacturing or production of a product. It involves the processes, activities, and entities that are responsible for delivering the final product to the end consumer.
Downstream value chains typically include activities such as marketing, sales, distribution, retailing, and customer service. These stages focus on adding value to the product, ensuring its availability to the target market, and meeting customer demands. It involves activities like packaging, branding, logistics, pricing, and after-sales support.
Efficient management of the downstream value chain is crucial for achieving customer satisfaction, market reach, and profitability. It involves coordinating with intermediaries, managing distribution channels, and implementing effective marketing strategies to promote and deliver the product to consumers.
By optimizing the downstream value chain, organizations can enhance their competitiveness, expand market share, and capture customer loyalty in the final stages of the product's journey from producer to consumer.
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In 2005, BridgePort Brewing Company expanded sales of its BridgePort India Pale Ale, and BridgePort Black Strap Stout into Alabama, Georgia, Kansas, Minnesota, Missouri, North Carolina, Oklahoma, Tennessee and Texas. These states will join BridgePort's current distribution markets of Alaska, Arizona, California, Colorado, Idaho, Montana, New Mexico, Oregon, and Washington. When the brewery allocated resources to increase its production and distribution, it would have relied on which of the following management functions?
Answers
Answer: organizing
Explanation:
When the brewery allocated resources to increase its production and distribution, the management function that it'll have relied on is organizing.
First and foremost, we should note that the management functions usually include:
• planning,
• organizing,
• leading, and
• controlling.
The organizational skills is vital in order for the company to runs smoothly. Organizing has to do with the establishment of internal processes in order to know the workers that fits a particular position.
Also, the management makes sure that everyone are organized and that workers are working hard towards the accomplishment of company's goals.
How have cloud-based applications changed the way people edit documents?
Answers
We can actually deduce here that cloud-based applications has changed the way people edit documents by allowing multiple users to access, review and edit a document in real time but from different locations.
What is cloud-based application?A cloud application is actually known to be a software application that is known to be deployed in a cloud environment and not actually hosted on a local server but accessible via the internet.
Cloud computing is the technology that is changing how people store and share files. Documents can be stored in the cloud system for years and accessed from anywhere and at anytime.
We see here that with cloud collaboration multiple users can work on a document at real time.
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Take any ucceful, high performing organization. Elaborate the viible apect of it culture and how they are practiced by the people in the organization. How ha thi culture contributed toward it high performance? Explain and give reaon
Answers
what is the minimum wage for SA
Answers
the new National Minimum Wage for South Africa has been made public by the Department of Employment and Labour. Starting on March 1st, 2023, the current minimum wage of R23,19 per hour will increase to R25,42 per hour (an increase of around 9,6%).
The minimal amount of compensation that an employer is compelled to pay wage earners for the job completed during a particular period, which cannot be reduced by a collective agreement or an individual contract, is referred to as the "minimum wage."The South African government may impose penalties on employers who fail to pay the minimum wage. If a defined weekly wage is used, the monthly wage is multiplied by 4.33. If an hourly rate is specified, it is computed as 4.33 times the weekly average.
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A bed mart company is in the business of manufacturing beds and
pillows. The company has 40 hours for assembly and 32 hours for
finishing work per day. Manufacturing of a bed requires 4 hours for
assembly and 2 hours for finishing. Similarly a pillow requires 2 hours
for assembly and 4 hours for finishing. Profitability analysis indicates
that every bed would contribute Birr 80, while a pillow contribution is
Birr 55 respectively. Find out the daily production of the company to
maximise the contribution (profit). Solve the problem by graphical
method.
Answers
The maximum daily profit for the company is $860
What is an inequality
Inequality is an expression that shows the non equal comparison of two or more variables and numbers.
Let x represent the number of bed and y represent the number of pillow, hence:
4x + 2y ≤ 40 (1)
Also:
2x + 4y ≤ 32 (2)
From the graph, the solution is at:
(8, 4)
Profit = 80x + 55y = 80(8) + 55(4) = $860
The maximum daily profit for the company is $860
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Training and development are roles filled by human resource specialists true or false
Answers
Please help!!!!!!!!!
QUESTION 10 of 10: You have leased production space that is 275 ft x 200 ft. The property owner charges $5 per square foot to calculate the annual cost. How much is the annual cost? O a) $1,375 O b) $55,000 c) $275,000 d) $460,000
Answers
Answer:
) $275,000
Explanation:
The charge per square foot is $5.
The total square feet leased
=275ft x 200ft
=55,000 square ft.
The total cost of the annual rent is
=55,000 x $5
=$275,000
Answer: $275,000
Explanation: This is the correct answer.
A company stops producing product that are not selling
Answers
When a company stops producing products that are not selling, this falls under Product/Service Management.
What is Product or Service Management?Product or Service Management refers to the part of a company that is in charge of monitoring a certain product or service to see how it is doing, how it contributes to the company, and how it can either be improved upon, or winded down on.
Product or Service Management would therefore notice when a product is no longer selling. They will report to the top management about their finds and the top management will then make the decision to either keep producing the product, or to stop producing it so the company stops incurring losses.
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What guarantees that employees receive safety training and information in a language they can understand?
OA. The Fair Labor Standards Act
OB. The Equal Employment Opportunity Commission
OC. The Pillars of Total Safety Culture
D. OSHA regulations
Answers
OSHA's regulations are designed to protect workers from occupational hazards and ensure their safety on the job. These regulations include specific provisions related to communication and training, such as OSHA's Hazard Communication Standard (HCS). The HCS mandates that employers provide information and training to employees about hazardous chemicals present in the workplace. This training must be conducted in a language that employees can comprehend.
By enforcing these regulations, OSHA aims to eliminate barriers that may prevent employees from understanding important safety information. It helps to ensure that workers, regardless of their language proficiency, receive the necessary training and information to identify workplace hazards, use protective equipment, and follow safety procedures effectively.
Ultimately, OSHA's regulations prioritize the safety and well-being of employees by guaranteeing that they receive safety training and information in a language they can understand.
the predetermined overhead rate was based on a cost formula that estimates $560,000 of total manufacturing overhead for an estimated activity level of 70,000 machine-hours
Answers
The underapplied overhead in Luzadis Company is $26000.
What is predetermined overhead rate?A predetermined overhead rate is an allocation rate that is used to apply the anticipated cost of manufacturing overhead to cost objects for a particular reporting period. Since it avoids compiling actual manufacturing overhead costs as part of the period-end closing process, this rate is frequently used to help with faster book closing. However, at the very least at the conclusion of each fiscal year, the discrepancy between the amounts of overhead that were estimated and actual must be reconciled.
The predetermined overhead rate was based on a cost formula that estimates $560,000 of total manufacturing overhead for an estimated activity level of 70,000 machine-hours.
= Total Manufacturing overhead / Machine hours
= 560,000 / 70000
= 8 per hour
Now, to compute the underapplied or overapplied overhead,
Under absorbed Overhead = Overhead incurred - Overhead applied
= 514000 - ( 61000 × 8 per hour)
= 514000 - 488,000 = $26000
Thus, the underapplied overhead in Luzadis Company is $26000.
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Complete question:
Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours. The predetermined overhead rate was based on a cost formula that estimates $560,000 of total manufacturing overhead for an estimated activity level of 70,000 machine-hours.
During the year, a large quantity of furniture on the market resulted in cutting back production and a buildup of furniture in the company’s warehouse. The company’s cost records revealed the following actual cost and operating data for the year:
Machine-hours 61,000
Manufacturing overhead cost $514,000
Inventories at year-end:
Raw materials $14,000
Work in process (includes overhead applied of $48,800) $188,000
Finished goods (includes overhead applied of $92,720) $357,200
Cost of goods sold (includes overhead applied of $346,480) $1,334,800
Required:
Compute the underapplied or overapplied overhead.
First Bank loaned $360,000 for 180 days to a company purchasing a rock-crushing machine. The bank sold the 7% simple interest note 120 days later at an 8% discount rate. Find the proceeds. Assume a 360-day year for both notes.
Answers
Why is there a disagreement among financial analysts and finance professors over applying accrual accounting rules to raw cash flow data
Answers
Based on contemporary issues, the reason for the disagreement among financial analysts and finance professors over applying accrual accounting rules to raw cash flow data is that "the disagreement is over the complexity of accrual accounting rules for a company."
What are accrual accounting rules?Accrual accounting rules are the accounting principle that ensures transactions are recorded when it occurs, with or without receiving the actual cash flows for the transaction.
However, despite the many merits of accrual accounting, its application is more complex than most smaller businesses don't want to use it.
Hence, in this case, it is concluded that the correct answer is "the disagreement is over the complexity of accrual accounting rules for a company."
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Type the correct answer in the box. Spell all words correctly.
Why do investors invest in stocks of different companies?
Investors invest in stocks of different companies to earn_____
and to make a profit when they sell the stocks at a higher price.
Answers
The stock market carries dangers, so it's vital to understand what they are before investing.
Why would a shareholder purchase shares in another business?For a number of reasons, investors purchase stocks. Here are a few examples: A stock's price rising results in capital appreciation. Dividend payments are made when a corporation gives its stockholders a portion of its earnings.
Why should you make several company investments?You are not limited to investing in a single industry when you diversity your portfolio; you can do so. This enables you to profit from some of the biggest consumer trends while simultaneously investing in several areas. To invest, you don't have to be an authority in a certain sector or discipline.
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If a $5,000 coupon bond has a coupon rate of 13 percent, then the coupon payment every year is (a) $650. (b) $1,300.
Answers
Reconcilling supply and demand has four overlapping activities, indicate these activites
Answers
To reconcile supply and demand, there are four overlapping activities. The four overlapping activities that help reconcile supply and demand are as follows:
Activity 1: Forecasting - The first step is forecasting, which entails predicting demand for goods and services. It is a quantitative process that includes data gathering, data cleansing, and mathematical modelling.
Activity 2: Planning - Planning is the second step. Planning involves identifying the resources needed to meet the anticipated demand, as well as allocating the available resources efficiently.
Activity 3: Execution - Execution is the third step. Execution entails efficiently managing the flow of goods and services from suppliers to customers, ensuring that the appropriate product and service is provided at the correct location, and ensuring that demand is satisfied.
Activity 4: Monitoring - Finally, the process includes monitoring the performance of the activities and the supply chain as a whole. It entails comparing actual performance to expected performance and identifying areas for improvement.
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