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3 years ago

A demand function for step stools manufactured by U-Step is q = -720p + 20,500.

Business

1 answer:

meriva3 years ago

5 0

Answer:

$140,420

Explanation:

The demand function is q = -720p + 20,500.

The price is $17

q = -720 ($17) + 20500 = 8260

The quantity sold is 8260

Revenue = price × quantity sold

= $17 × 8260 = $140,420

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Joel Foster is the portfolio manager of the SF Fund, a $3 million hedge fund that contains the following stocks. The required ra

Cerrena [4.2K]

Answer:

Stock A at an amount of $1075000 at beta of 1.2

Stock B at an amount of $675000 at Beta of 0.5

Stock C at an amount of $750000 at beta of 1.4

Stock D at an amount of $500000 at beta of 0.75

5 0

3 years ago

Newton Corporation entered into the following transactions during its first year of operations. (Assume all transactions involve

makkiz [27]

Answer:

Newton Corporation

Net income for the year = $120

Explanation:

a) Data and Calculations:

Direct materials cost = $400

Direct labor cost = 800

Manufacturing overhead 400

Total manufacturing cost $1,600

Cost per unit = $8

Ending Inventory of finished goods = 150 units * $8 = $1,200

Cost of goods sold = 50 * $8 = $400

Sales revenue = 50 * $12 = $600

Newton Corporation

Income Statement

For the year ended December 31:

Sales Revenue $600

Cost of goods sold 400

Gross income $200

Selling & Admin.

expense 80

Net Income $120

b) Newton Corporation's net income is the difference between the Sales Revenue, cost of goods sold and selling and administrative expenses.

8 0

3 years ago

Varto Company has 7,000 units of its sole product in inventory that it produced last year at a cost of $22 each. This year’s mod

sp2606 [1]

Answer:

Sell

Explanation:

The computation is shown below:

In case of proceed further $175,000 (7,000 units × $25)

Less: In case of sold $56,000 (7,000 units × $8)

Revenue increment $119,000

Less: Cost of processing further -$125,000

Incremental net loss -$6,000

As we can see that there is an incremental loss of $6,000 which reflects to sell off the product not proceed further plus

5 0

3 years ago

Kropf Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing ov

sasho [114]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Direct materials 7.60 liters $ 7.20 per liter

Direct labor 0.60 hours 23.70 per hour

Variable manufacturing overhead 0.60 hours $ 6.10 per hour

Actual output 9,800 units

Raw materials purchased 75,200 liters

Actual cost of raw materials purchased $ 564,500

Raw materials used in production 74,500 liters

Actual direct labor-hours 5,500 hours

Actual direct labor cost $ 135,302

Actual variable overhead cost $ 29,314

1) To calculate the direct material price and quantity variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Actual pirce= 564,500/75,200= 7.51

Direct material price variance= (7.2 - 7.51)*75,200

Direct material price variance= $23,312 unfavorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (7.6*9,800 - 74,500)*7.2

Direct material quantity variance= $144 favorable

2) To calculate the direct labor rate and efficiency variance, we need to use the following formulas:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Standard quantity= 0.6*9,800= 5,880

Direct labor time (efficiency) variance= (5,880 - 5,500)*23.7

Direct labor time (efficiency) variance= $9,006 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Actual rate= 135,302/5,500= 24.6

Direct labor rate variance= (23.7 - 24.6)*5,500

Direct labor rate variance= $4,950 unfavorable

3) To calculate the variable overhead rate and efficiency variance, we need to use the following formulas:

Manufacturing overhead rate variance= (standard rate - actual rate)* actual quantity

Actual rate= 29,314/5,500= 5.33

Manufacturing overhead rate variance= (6.10 - 5.33)*5,500

Manufacturing overhead rate variance= $4,235 favorable

variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate

variable overhead efficiency variance= (0.6*9,800 - 5,500)*6.1

variable overhead efficiency variance= $2,318 favorable

7 0

3 years ago

A company provided $1,500 of services to customers during the month of May. The customers paid in June. What would the impact of

alex41 [277]

Answer:

The answer is 3. accrual basis net income

Explanation:

Accrual basis is the effects of transactions on a reporting entity's economic resources in the period in which those transactions occur, even if the resulting cash receipt and payment occur in a different time.

The $1,500 will be recorded in the month of May

Cash basis recognizes transactions in the period in which cash receipts and payment occur. This can be found in government account.

Option 1 is not correct because this is not a basis in preparing financial statement

6 0

3 years ago