Knowledge Check 01

When was the Fair Labor Standards Act (FLSA) established?

Snezhnost [94]

Answer:

The Fair Labor Standards Act was established in 1938.

6 0

3 years ago

Decisions today are becoming _____ complex, due to _____ uncertainty in the decision environment. Question 25 options: 1) less,

denis-greek [22]

The answer is option 4 more and increased.

Explanation:

Decisions today are becoming more complex, due to increased uncertainty in the decision environment.

Decision making is planning, organizing, directing and controlling the functions of a manager at achieving organizational goals.

It provides more information and alternatives, improves the quality of decisions and helps in strengthening the organization.

In the decision phase of the decision making process the managers construct a model that reduces the problem. The decision rights identify and define the framework for how they will be made through operating process and support tools.

6 0

3 years ago

The expected average rate of return for a proposed investment of $650,000 in a fixed asset, with a useful life of 4 years, strai

nexus9112 [7]

The expected average rate of return in the fixed asset above is 36.92%. The rate of return is the income or loss of a proposed investment in a specified amount of time. In this case, a company wants to buy a 4-year life fixed asset which can increase the company's income by $240,000. We can calculate the rate of return by dividing the net income from the investment with the proposed investment to obtain the portion of return received from the investment<span>. Formula: (Net Income From The Investment/Proposed Investment) x 100%.</span>

8 0

3 years ago

On January 1, 2018, Plummer Company issued $250,000 of 4%, five-year bonds payable at 102. Plummer Company has extra cash an

Anna [14]

Answer:

1. Carrying amount = $250,000

2. Cash paid to retire bond = $225,000

3. Gain on the retirement = $25,000

Explanation:

1. What is Plummer Company's carrying amount of the bonds payable on the retirement date?

Carrying amount of a bond payable on the retirement date is its par value amount.

Therefore, Plummer Company's carrying amount of the bonds payable on the retirement date is $100 par value for 2,500 units with a total carrying amount of $250,000.

2. How much cash must Plummer Company pay to retire the bondspayable?

Units of bond = $250,000/$100 = 2,500 units.

Since Plummer pays the market price of $90 to retire the bonds, cash amount Plummer Company must pay to retire the bonds payable can be calculated as follows:

Cash paid to retire bonds = 25,000 * $90 = $225,000

3.Compute Plummer Company's gain or loss on the retirement of the bonds payable.

Gain (loss) = Carrying amount - Cash paid on retirement = $250,000 - $225,000 = $25,000

7 0

3 years ago

g n a process cost system, 108,000 units of a product are assembled in Department F with total product cost (DM, DL, and FO) $90

ivolga24 [154]

Answer:

Journal Entry

Debit Department G Work in Process $90,000

Credit Department F Work in Process $90,000

To record the transfer of product cost from Department F to Department G.

Explanation:

a) Data and Calculations:

Number of units assembled in Department F = 108,000

Total product cost (DM, DL, and FO) = $90,000

Additional inspection cost in Department H = $26,000

Total product cost = $116,000 ($90,000 + $26,000)

Transfer of product cost from Department F to Department G:

Department G Work in Process $90,000

Department F Work in Process $90,000

4 0

3 years ago