Answers
The total cost method includes all manufacturing costs plus selling and administrative expenses in the cost amount to which the markup is added to determine product price is TRUE.
Total cost method is a pricing strategy which includes all production cost of a products and its related expenses then adding profit to the resulting amount. This method allows a company to put the highest price as possible based on its desired profits.
However, this method is disfavored by the boards and courts because it ssumes the reasonableness of a company's costs, the accuracy of its bid computations, and its lack of responsibility for increases in costs.
To overcome this issue, the modified total cost method is developed which is the adjusted version of total cost method for any deficiencies in the company's proof in satisfying the requirements of the total cost method.
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Related Questions
1. Find the derivative y' = dy/dx:
(a) y = 5x2 + 2x-1/2 + 3
(b) y = (3x2 - 1)(5x2 + 2x)
What is the y prime?
Answers
Answer:
you did the questions right . very good
If Emmett wants to pay off his student loan by making monthly payments
for 10 years, what type of repayment plan is best for him?
Standard repayment plan
O Extended repayment plan
O Income-driven repayment plan
O Graduated repayment plan
-Submit
Answers
Answer:
income driven
Explanation:
if he wants to make monthly payments, income driven is the best option because he would get paid monthly for what ever job, and then pay a percentage of that towards his student loan
What is the purpose of consumer-advocacy groups?
to enforce consumer-protection regulations
to lobby the government for lower taxes
to promote the interest of consumers
to provide essential social services
Answers
To promote the interest of consumers is the purpose of consumer-advocacy groups. Actions performed by people or organizations to advance and defend the interests of the buying public are referred to as consumer advocacy.
Most countries have implemented legislation to safeguard customers against unsafe or subpar craftsmanship, dishonest sales tactics, and deceptive advertising. Consumer advocacy, movements, or laws that protect consumers' interests by regulating the goods, services, practices, and expectations of producers, merchants, and advertising.
Protecting the interests of the consumer or buyer is the goal of consumer advocacy groups. These organizations use a variety of tactics to expose companies that engage in unfair business practices or sell dangerous goods. These tactics include litigation, letter-writing campaigns, boycotts, and public relations. The Consumer Federation of America, which has 220 member groups, is the biggest consumer advocacy organisation in the United States.
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LEONE COMPANY Income Statement For Year Ended December 31 Sales Cost of goods sold Finished goods inventory, beginning Cost of goods manufactured Goods available for sale Less: Finished goods inventory, ending Cost of goods sold Gross profit General and administrative expenses Selling expenses Net income $ 84,000 84,000 92.000 $ 3,251,000 $ (8,000) 3,259,000 127.000 603,000 2,529,000
How do you find the cost of goods manufactured?
Answers
The cost of goods manufactured (COGM) is the cost of all the products that a company has manufactured during a period.
How to calculateIt is calculated by adding the beginning finished goods inventory to the total manufacturing costs, and then subtracting the ending finished goods inventory.
In the income statement you provided, the cost of goods manufactured is calculated as follows:
COGM = $92,000 + $3,251,000 - $127,000 = $3,224,000
Therefore, the cost of goods manufactured for Leone Company is $3,224,000.
Here is the formula for calculating COGM:
COGM = Beginning finished goods inventory + Total manufacturing costs - Ending finished goods inventory
The total manufacturing costs include direct materials, direct labor, and manufacturing overhead.
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Definition of businnes
Answers
Answer:
a person's regular occupation, profession, or trade.
or
the practice of making one's living by engaging in commerce.
Explanation:
person's regular occupation, profession, or trade.
The Dubuque Cement Company packs 80-pound bags of concrete mix. Time-study data for the filling activity are shown in the following
table. Because of the high physical demands of the job, the company's policy is a 25% allowance for workers. (Round all intermediate
calculations to two decimal places before proceeding with further calculations.)
Element
Grasp and place bag
Fill bag
Seal bag
Place bag on conveyor
Performance
Rating
110%
80%
105%
85%
1
8
37
16
8
Observation (seconds)
2
8
42
17
6
3
9
38
12
9
Bag breaks open; included as delay in the allowance factor
A Conveyor jams; included as delay in the allowance factor
a) The standard time for this process = seconds (round your response to two decimal places).
4
12
34
20
30^
5
8
114
18
34
Answers
Answer:
g
Explanation:
d
Parks Corporation is considering an investment proposal in which a working capital investment of $10,000 would be required. The investment would provide cash inflows of $2,000 per year for six years. The working capital would be released for use elsewhere when the project is completed.
If the company's discount rate is 10%, the investment's net present value is closest to (Ignore income taxes):
a) $1,290 b) $(1,290) c) $2,000 d) $4,350
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To recruit new executive and professional, company should mainly depend on_____ *
Answers
Answer:
Body physic, skills, and mental capacity.
Which type of logic is based on indisputably verifiable information?
Answers
Answer:
Falsifiability
Explanation:
Falsifiability
Describe the demographic segmentation that a company would use to
categorize you as a potential customer. Do you think you are representative of
that segmentation? Explain why or why not.
Answers
Seach engines are tracking all sorts of other things. Such as the most recent searches. What you've been reading so far. What you've been looking for but haven't purchased- your clothing measurements, your moral principles, the information in your emails. Psychographic profiling is all about understanding who your customers are, what really matters to them, what their values are, and how that intersects with their purchasing decisions, preferred information sources, and so on.
Demographic segmentation of customer bases is now extremely complex, allowing for micro-targeting on previously unimaginable scales. So, do I represent a segmentation? I am, indeed.
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Scalper buys 10,000 tickets and resell them for $150 each. How much does the scalper earn?
Answers
If a scalper buys 10,000 tickets and resells them for $150 each, then, as a total revenue, he would have earned a total amount of $15,000,000.
What is earning?Earnings are defined as the net profits generated by a company's operations. The amount on which corporate tax is due is also referred to as earnings.
Therefore, the total revenue is generated from the given case is:
Revenue = Price * quantity
Revenue = $150 * 10,000
Revenue = $15,00,000
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How can events in a process costing system affect financial statements? Provide examples.
Answers
The inventory costing asset account, which shows up on the balance sheet, is where the costs associated with units produced or in production are financial recorded.
The cost is transferred to the cost of goods sold account when the goods are eventually sold, where it appears on the income statement. Financial Process costing is a type of costing that's primarily utilized costing in manufacturing, where products are mass-produced constantly using one or more processes. Examples of this include producing chemicals, erasers, or processed foods. Instead of tracking expenses for each individual item, organizations that use process costing follow the flow of costs from department to department.
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If increasing the number of goods produced is one way to increase
productivity, what is the other way to increase productivity?
Answers
Productivity refers to the measure of output per unit of input over a given period of time. A company’s productivity level is a crucial factor in determining its profitability. Productivity can be increased in different ways, including increasing the number of goods produced and reducing waste. These are the two ways to increase productivity. Therefore, the answer to the question is reducing waste.
Another way to increase productivity is to improve efficiency. Efficiency is a measure of how well inputs are converted into outputs. Improving efficiency means reducing the amount of time, effort, and resources needed to produce a certain output. A company can improve its efficiency in various ways, including using better technology, improving its production processes, and training employees to work more effectively. Increasing productivity is critical for the growth of any business. Productivity can be increased by implementing a wide range of strategies. Reducing waste is one way to increase productivity, while improving efficiency is another way. Both of these strategies help companies to achieve their goals by producing more goods in less time. In conclusion, companies need to explore ways to improve their productivity levels continually. This will help them to increase their profitability, grow their business, and remain competitive in the market.
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Which of the following is an example of nonverbal communication?
Answers
Answer:
Some examples of Nonverbal: Facial expressions. The human face is extremely expressive, able to convey countless emotions without saying a word, Body movement and posture, Gestures, Eye contact, Touch, Space, Voice, Pay attention to inconsistencies.
Explanation:
Nonverbal communication refers to gestures, facial expressions, tone of voice, eye contact (or lack thereof), body language, posture, and other ways people can communicate without using language.
Answer: INCOMPLETE QUESTION
Which of the following is an example of effective nonverbal communication?
A. Remaining close to the person's face when relaying a message.
B. Using a chart to point to text and images.
C. Avoiding facial expressions like frowning or nodding.
D. Paying attention to what's going on in the room.
The answer is B for A-P-E-X users.
Each of the following would be a period cost except: Group of answer choices the salary of the company president's secretary. the cost of a general accounting office. depreciation of a machine used in manufacturing. sales commissions.
Answers
Answer:
depreciation of a machine used in manufacturing.
Explanation:
A periodic system of inventory can be defined as a method of financial accounting, that typically involves updating informations about an inventory on a periodic basis (at specific intervals) as the sales or purchases are being made by the customers, through the use of either an enterprise management software applications or a digitized point-of-sale equipment.
Periodic cost are costs that occur or arise on a periodic basis such as quarterly.
Each of the above mentioned costs would be a period cost except depreciation of a machine used in manufacturing.
What is the current value of a $1000 Treasury inflation-protected security if the reference CPI is 203.19 and the current CPI is 205.47? The coupon rate is 3 percent and the bond was issued two years ago.
Answers
Answer:
the current value fo $1,000 is $1,011.22
Explanation:
The computation of the current value of $1,000 is shown below:
Current value
= Price × (Current CPI ÷ Reference CPI) × 100
= $1,000 × (205.47 ÷ 203.19)
= $1,011.22
We basically applied the above formula so that the current value would come
Hence, the current value fo $1,000 is $1,011.22
Which of the following actions is a good example
of protecting sensitive information? Check all of
the boxes that apply.
using a paper shredder to discard documents
that contain personal medical information
keeping patient files in a secure electronic file
system with limited access
maintaining a confidential patient consultation
area in a doctor's office
discussing private matters with patients in the
waiting room
Answers
Answer:
A,B,C
Explanation:
Answer:
“Using a paper shredder to discard documents that contain personal medical information”, “Keeping patient files in a secure electronic file system with limited access” and “Maintaining a confidential patient consultation area in a doctor’s office”
Explanation:
Paula has saved $8,000 for her college expenses by working part-time. She plans to start college next year and needs all of the money she saved. Which of the following is the safest place for her college money?
Answers
Loster Company reported a net loss of $17,017 for the year ended December 31. During the year, accounts receivable decreased by $7,476, inventory increased by $5,997, accounts payable increased by $15,357, and depreciation expense of $5,495 was recorded. What was the net cash used for or provided by operating activities during the year
Answers
Answer:
The answer is $5,314
Explanation:
Net loss ($17,017)
Add back:
Depreciation expense. $5,495
($11,522)
Changes in working capital:
Decrease accounts receivable $7,476
Increase Inventory. ($5,997)
Increase accounts payable. $15,357
Net cash provided by operating activities. $5,314
What products have tariff restricting their trade or subsidies promoting it.
Answers
By raising the cost of imported products and services and decreasing their appeal to domestic consumers, tariffs are used to limit imports.
What are consumers?Consumers are those who buy products for their own needs and use or consume them. Although a customer cannot resell the good, product, or service, he or she may use it to support himself or herself and engage in self-employment. Describe a consumer. The person who uses any goods or services on a daily basis is the consumer.
A tariff, sometimes known as an import tax, is the most prevalent trade barrier. Due to tariffs, imported items are more expensive than domestic ones (goods produced at home). Government subsidies to a specific home industry are another frequent trade obstacle. Producing those things is less expensive thanks to subsidies than it is for export.
Therefore, Tariffs are used to restrict imports since they increase the cost of imported goods and services and lessen their attraction to domestic consumers.
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The US Senate overwhelmingly passed the 2022 Defense Authorization Act. The $768 billion "Defense Authorization Act" not only exceeds the defense spending proposed by the Biden administration by $25 billion, but also increases the US defense budget by about 5% compared to last year.
Answers
The US Senate passed the 2022 Defense Authorization Act, a $768 billion bill that surpasses the Biden administration's defense spending proposal by $25 billion and represents a 5% increase in the US defense budget compared to the previous year.
1. The US Senate passed the 2022 Defense Authorization Act.
2. The Defense Authorization Act is a bill that determines the budget and expenditures for the US defense sector.
3. The total amount allocated for the Defense Authorization Act is $768 billion.
4. The defense spending proposed by the Biden administration was exceeded by $25 billion in this Act.
5. The Act represents a 5% increase in the US defense budget when compared to the previous year.
6. This increase in the defense budget indicates a commitment to strengthening the country's defense capabilities.
7. The Act was passed overwhelmingly, indicating strong support from the Senate.
8. The Defense Authorization Act is an essential piece of legislation that ensures the funding and resources necessary for the US military to carry out its operations effectively.
9. The Act covers various aspects of defense spending, including military personnel, equipment, research and development, and strategic initiatives.
10. By passing the Defense Authorization Act, the US Senate has demonstrated its commitment to national security and defense preparedness.
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Volatile price changes, technological changes, and government intervention are what type of risks?
Answers
Volatile price changes, technological changes, and government intervention are external risks that can impact a company's operations and performance.
What are Volatile price changesVolatile price changes refer to fluctuations in input or product prices, which can affect profitability and cost structure. Technological changes can introduce advancements or disrupt an industry, requiring companies to adapt to avoid becoming obsolete.
Government intervention, through regulatory changes or policies, can create uncertainties and challenges for companies, affecting operations, costs, and market access.
To mitigate these risks, companies should implement risk management strategies such as diversification, contingency planning, staying informed about market trends, investing in R&D, and engaging with government stakeholders.
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Interpret this wavelet coherence graph
Answers
The lead/lag phase relations between the studied series are shown as an arrow in the wavelet coherence plots. When the two-time series have a zero phase difference, they move in unison on that scale. Depending on whether the time series are in phase or antiphase, arrows will point to the right (left). The correlation between two signals is gauged by wavelet coherence.
The examination of frequency change in the time domain is made possible by wavelet analysis, which enables the change from a time-value system to a time-scale (frequency) system. Based on the frequency components that each signal contains, the coherence function calculates the correlation between the signals. The spectrum is hence a correlation. By calculating the cross-phase spectrum, one can also derive time differences as a function of frequency.
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What does trade allow for specialization?
Answers
Answer:
Trade allows specialization based on comparative advantage and thus undoes this constraint, enabling each person to consume more than each person can produce.
Explanation:
Tourism industry has been suffering during this pandemic. Tata Vacation Villa currently has numerous vacancies. Few tenants moved out because of high rents. Prospective tenants come to see the units, they are very excited, however, they see many other vacancy signs available for less money. As a result, Tata Vacation Villa are losing customers. You are working as a manager of the company and your boss asked you to
Answers
Analyzing the above scenario, it is likely that as a manager of the company, your boss asked you to carry out a strategic plan so that Tata Vacation Villa does not lose any more customers.
Through strategic planning, action plans would be developed to help the company achieve its objectives and goals.
Some strategic actions that the manager could develop to maintain the company's competitiveness would be:
Develop a marketing plan in order to generate greater publicity for Tata Vacation Villa.Offer discounts and benefits to customers.Reduce rental prices during the pandemic.Partnering with airline industries, websites and attractions to offer discounts to customers.Therefore, it is necessary to align the company's action plans to its internal and external environment, in order to achieve organizational goals.
As a manager, your role is to plan, organize, lead and control the strategy so that it is effectively implemented.
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assume the same information as e14-6. instructions set up a schedule of interest expense and discount amortization under the effective-interest method. (hint: the effective-interest rate must be computed.)
E14-6 (L01) (Amortization Schedule-Straight-Line) Devon Harris Company sells 10% bonds having a maturity value of $2,000,000 for $1,855,816. The bonds are dated January 1, 2017, and mature January 1, 2022. Interest is payable annually on January 1.
Answers
Discount amortization is the process of allocating the discount or premium on a bond over the life of the bond to the interest expense.
To create a schedule of interest expense and discount amortization under the effective-interest method, follow these steps:
Compute the effective interest rate: To do this, divide the total interest to be paid over the life of the bond ($200,000) by the bond's carrying value ($1,855,816). The effective interest rate is approximately 10.79%.
Calculate the annual interest expense: Multiply the bond's carrying value at the beginning of the year by the effective interest rate. For example, in the first year, the interest expense would be $1,855,816 x 10.79% = $201,200.76.
Calculate the annual amortization of discount: Subtract the interest expense from the coupon interest to find the discount amortization for the year. For example, in the first year, the discount amortization would be $200,000 - $201,200.76 = $-1,200.76.
Update the carrying value of the bond: Subtract the discount amortization from the carrying value at the beginning of the year to find the carrying value at the end of the year. For example, in the first year, the carrying value at the end of the year would be $1,855,816 - $-1,200.76 = $1,857,016.76.
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In 2019, Colin and Laura sold their house for $990,000. They paid $40,000 in expenses so their proceeds are $950,000. They bought the house in 2013 and paid $300,000 for the home and spent $30,000 to add on a garage so their basis would be $330,000. They subtract $330,000 from $950,000 to find their gain equals $620,000. When filing their joint income tax return, if all of other conditions are met, what is the maximum amount Colin and Laura could exclude from the sale of their home
Answers
Answer:
the total maximum amount that excluded is $500,000
Explanation:
The computation of the maximum amount that could be excluded is as follows:
In the case of the gain on sale of personal residence of taxpayer the amount of $250,000 would be considered as an exclusion other than married filing
But in the case of married filling the above amount should be doubled
Therefore the total maximum amount that excluded is $500,000
Now that you’ve chosen your business and found your niche, you’re in need of some advice on the practical aspects of setting up the business. A reliable resource for business information is
Answers
Answer:
the Small Business Administration
Explanation:
What is an economy?
Answers
organizing refers to
Answers
Answer:
Organizing or organising is the establishment of effective authority relationships among selected work, persons and work places in order for the group to work together efficiently. Or the process of dividing work into sections and departments.