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Arlecino [84]
3 years ago
7

Canfield Technical School allocates administrative costs to its respective departments based on the number of students enrolled,

while maintenance and utilities are allocated per square feet of the classrooms. Based on the information below, what is the total amount of administrative cost to the Accounting Department (rounded to the nearest dollar) if administrative costs for the school were $50,000, maintenance fees were $12,000, and utilities were $6,000?Department Students ClassroomsElectrical 120 10,000 sq. ft.Welding 70 12,000 sq. ft.Accounting 50 8,000 sq. ft.Carpentry 40 6,000 sq. ft.Total 280 36,000 sq. ft.$8,929.$17,000.$18,500.$22,667.$11,111.
Business
1 answer:
Svetradugi [14.3K]3 years ago
6 0

Answer:

The total amount of administrative cost to the Accounting Department is $ 14,900.

Explanation:

In order to calculate the total amount of administrative cost to the Accounting Department, first we need to calculate the Utilization Ratio of the particulars, using the following formua:

Utilization Ratio=(Total amount particular/Utilised by accounting department)

Hence, the Utilization Ratio of Administration costs =(50/280)

                                                                                    =0.178

             the Utilization Ratio of Maintenance fee =(12,000/36,000)=0.33

             the Utilization Ratio of Utilities=(12,000/36,000)=0.33

Therefore, the total amount of administrative cost to the Accounting Department=(0.178×$50,000)+(0.33×$12,000)+(0.33×$6,000)

                  =$8,900+$4,000+$2,000

                  =$14,900

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sergeinik [125]

Answer:

PV= $35,217,78

Explanation:

Giving the following information:

Future value= $2,500,000

Number of periods= 63 years

Interest rate= 7% compounded annually

<u>To calculate the value of the prize today, we need to use the following formula:</u>

PV= FV/(1+i)^n

PV= 2,500,000 / (1.07^63)

PV= $35,217,78

8 0
3 years ago
Kate is a florist. Kate can arrange 20 bouquets per day. She is considering hiring her husband William to work for her. Together
Andrew [12]

Answer:

(d) 15 bouquets

Explanation:

it is given that kate alone can arrange 20 bouquets per day

and it is also given that when Kate and his husband William work together then they arrange 35 bouquets

we have to find the William marginal product

if both together arrange 35 bouquets and Kate alone arrange 20 bouquets it means that 35-20=15 bouquets are arranged by William alone

so the marginal product of William is 35-20=15 so the option will be the correct answer

6 0
3 years ago
The following information applies to the questions displayed below.
zhenek [66]

Answer:

Lobo Co.

Journal Entries:

Nov. 11 Debit Cash $7,875

Credit Sales Revenue $7,875

To record the sale of 105 razors for cash.

Nov. 11 Debit Cost of Goods Sold $2,100

Credit Inventory $2,100

To record the cost of goods sold for 105 razors at $20 each.

Dec. 16: Debit Cash $16,500

Credit Sales Revenue $16,500

To record the sale of 220 razors for cash.

Debit Cost of Goods Sold $4,400

Credit Inventory $4,400

To record the cost of goods sold.

Jan. 5: Debit Cash $11,250

Credit Sales Revenue $11,250

To record the sale of 150 razors for cash.

Debit Cost of Goods Sold $3,000

Credit Inventory $3,000

To record the cost of goods sold.

Adjusting Journal Entries:

Nov. 30: Debit Warranty Expense $630

Credit Warranty Liability $630

To record the warranty expense for November sales.

Dec. 9: Debit Warranty Liability $300

Credit Inventory $300

To replace 15 razors.

Dec. 16: Debit Warranty Expense $1,672

Credit Warranty Liability $1,672

To record the warranty expense for December sales.

Dec. 29: Debit Warranty Liability $600

Credit Inventory $600

To replace 30 razors.

Dec. 31: Debit Income Summary $2,302

Credit Warranty Expense $2,302

To recognize the warranty expense for the period.

Jan. 5: Debit Warranty Expense $900

Credit Warranty Liability $900

To record warranty expense for January sales.

Jan. 17: Debit Warranty Liability $1,000

Credit Inventory $1,000

To record the replacement of 50 razors.

Jan. 31: Debit Warranty Expense $100

Credit Warranty Liability $100

To recognize warranty expense for January sales.

2. The Warranty Expense for November is $630 and for December is $1,602.

3. The Warranty Expense for January is: $1,000

4. The balance of the Estimated Warranty Liability account as of December 31 is:

= $1,402

5. The balance of the Estimated Warranty Liability account as of January 31 is:

= $1,302

Explanation:

a) Data and Calculations:

Cost per new razor = $20

Retail selling price = $75

Expected warranty costs = 8% of dollar sales

b) Estimated Warranty Liability Account:

Nov. 30: Credit Warranty Liability  $630

Dec. 9: Debit Warranty Liability    ($300)

Dec. 16: Credit Warranty Liability $1,672

Dec. 29: Debit Warranty Liability  ($600)

Dec. 31: Balance                           $1,402

Jan. 5: Credit Warranty Liability    $900

Jan. 17: Debit Warranty Liability ($1,000)

Jan. 31 Balance                            $1,302

Warranty Expense Account:

Nov. 30: Debit Warranty Expense  $630

Dec. 16: Debit Warranty Expense $1,672

Dec. 31: Debit Income Summary $2,302

Jan. 5: Debit Warranty Expense $900

Jan. 31: Debit Warranty Expense $100

Jan. 31: Debit Income Summary $1,000

5 0
3 years ago
Wilson is currently producing a component for one of its products. Wilson has received an offer to buy the component from an out
lorasvet [3.4K]

Answer:

Option B                                      

Explanation:

In simple words, avoidable costs refers to those expenditures which can be avoided by the management of the business if they want to as such expenditures are usually made for additional support.    

Irrelevant costs include factors which will not be impacted by a management action, whether positively or negatively. Consequently, unnecessary factors, such as static overhead as well as sunken factors, are overlooked in making the choice. Nonetheless, in addition to ultimately save the company it is important for a management to be able to discern an insignificant expense.

6 0
3 years ago
DSO and accounts receivable Ingraham Inc. currently has $205,000 in accounts receivable, and its days sales outstanding is 71 da
rusak2 [61]

Answer:

$49,084.51

Explanation:

days of sales outstanding (DSO) = accounts receivable / average daily sales

71 days = $205,000 / (total sales / 365 days)

total sales / 365 days = $205,000 / 71 days

total sales = ($205,000 / 71 days) x 365 days = $1,053,873.24

after the change, annual sales will decrease by 15%:

$1,053,873.24 x (1 - 15%) = $895,792.25

average sales per day = $895,792.25 / 365 = $2,454.23 per day

new DSO = accounts receivable / average sales per day

20 days = accounts receivable / $2,454.23 per day

accounts receivable = $2,454.23 per day x 20 days = $49,084.51

8 0
3 years ago
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