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4 years ago

The following is selected information from Windsor, Inc. for the fiscal year ending October 31, 2017.

Business

1 answer:

klasskru [66]4 years ago

8 0

Answer:

Net Income 192,640‬

Explanation:

For the accrual basis, we will consider the revenue ercognized and the expenses incurred regardless, of the payment date or collection date.

This means we will not focus on cash, we will focus in the accrued revenues and expenses for the period:

Revenues 378,400

Expenses with deprecation <u> (185,760) </u>

Net Income 192,640‬

The cash payment on the computer and the loan are not revenues or expenses, are considered for the cash flow statement.

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The Silver Corporation uses a predetermined overhead rate to apply manufacturing overhead to jobs. The predetermined overhead ra

mixer [17]

Answer: Option (C) is correct.

Explanation:

Given that,

In Dept. A,

Direct labor cost = $60,000

Manufacturing overhead = $90,000

Direct labor-hours = 6,000

Machine-hours = 2,000

In Dept. B,

Direct labor cost = $40,000

Manufacturing overhead = $45,000

Direct labor-hours = 9,000

Machine-hours = 15,000

Predetermined overhead rates in Dept. A = $\frac{Manufacturing\ Overhead}{Direct\ labor\ cost} \times 100$

= $\frac{90,000}{60,000} \times 100$

= 150%

In dept. B = $\frac{Manufacturing\ Overhead}{Machine\ Hour}$

= $\frac{45,000}{15,000}$

= $3

8 0

3 years ago

2. What are mortgage brokers?

kondor19780726 [428]

A mortgage broker acts as a middleman between you and potential lenders. The broker's job is to compare mortgage lenders on your behalf and find interest rates that fit your needs. ... Mortgage brokers are licensed

7 0

3 years ago

Two goods are considered to be related goods by many buyers: if the price of one increases, buyers buy more of the other. This i

vovikov84 [41]

Answer: False.

Explanation:

False.

This indicates that the two goods are substitute goods, not the complementary goods.

In case of complementary goods, the price of one good is inversely related with the demand for other related good. For example, car and petrol; if the price of petrol increases as a result demand for cars decreases.

In case of substitute goods, the price of one good is directly related with the demand for other related good. For example, tea and coffee; if the price of coffee increases as a result demand for tea increases. So, there is a positive relationship between the price of one good and demand for the other good.

3 0

3 years ago

The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash

lys-0071 [83]

Answer:

2021 Balance Sheet

$5,900 Cash

$29,000 Accounts Receivable

$6,500 short-term investments

$69,000 Inventory

$110,400 TOTAL CURRENT ASSETS

$ 165,000 Property, plant, and equipment (net)

$165,000 TOTAL NON CURRENT ASSETS

$275,400 TOTAL ASSETS

$48,000 Accounts Payable

$1,000 Interest Payable

$20,000 Salaries Payable

$69,000 TOTAL CURRENT LIABILITIES

$39,000 Long Term Notes Payable

$39,000 TOTAL NON CURRENT LIABILITIES

$108,000 TOTAL LIABILITIES

$145,000 Paid in Capital

$22,400 Retained Earnings

$167,400 TOTAL EQUITY

$275,400 TOTAL EQUITY + LIABILITIES

Explanation:

To complete the Total Current Assets is necessary to find the Short Term Investments, which is possible to know because the current ratio must be 1,6.

With this information it's possible to know that the total current Asssets are $110,400, and the Short Term Investments are $6,500.

To complete the Balance Sheet we need to know the total Retained Earnings that equilibrate the Accounting equation, that is $22,400.

4 0

4 years ago

X-inefficiency refers to a situation in which a firm: Group of answer choices fails to realize all existing economies of scale.

Veronika [31]

Answer:

fails to achieve the minimum average total costs attainable at each level of output.

Explanation:

X Inefficiency do take place in a firm when there is little or no incentive in controlling costs. As a result of this average cost of production will go up than necessary. And as a result of lack of incentives, technically, the firm will be far from efficient. It should be noted that X-inefficiency could be described as a situation in which a firm fails to achieve the minimum average total costs attainable at each level of output.

4 0

3 years ago