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Advocard [28]
3 years ago
6

The following costs and inventory data were taken from the accounts of Simon Company for 2010:

Business
1 answer:
kenny6666 [7]3 years ago
8 0

Answer:

Part a

Direct Materials Schedule

Beginning Materials                               $ 8,000

<em>Add</em> Purchases                                      $83,000

<em>Less</em> Ending Materials                          ($ 7,000)

<em>Less</em> Indirect materials                          ($4,000)

Direct Materials Used in Production    $80,000

Part b

Overheads Incurred during the year

                                     $

Factory rent                  8,000

Factory utilities            10,000

Indirect materials          4,000

Indirect labor                 6,000

Total Overheads       $28,000

Part c

Cost of Goods Manufactured Schedule

Direct Materials                                   $80,000

Direct labor                                          $42,000

Overheads                                           $28,000

Add Opening Work In Process           $15,000

Less Closing Work In Process           ($13,000)

Cost of Goods Manufactured           $152,000

Part d

Cost of Goods Sold

Beginning Finished goods Inventory       $16,000

Add Cost of Goods Manufactured         $152,000

Less Ending Finished Goods Inventory ($12,000)

Cost of Goods Sold                                 $156,000

Explanation:

The following steps must be done to reach the cost of goods sold :

  1. Use the Manufacturing Cost Schedule to calculate the Cost of Goods Manufactured
  2. Use the Finished Goods Inventory Account to calculate the Cost of Goods Sold.

See the calculations and schedules prepared above.

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After considering current market conditions, an investor decides to place 60% of her funds in equities and the rest in bonds. Th
antoniya [11.8K]

Answer:

Asset allocation.

Explanation:

A basic decision that every investor must make is how to distribute his or her investable founds amongst the various asset classes available in the marketplace.

-Stocks

-Fixed income

-Cash equivalents

-Alternative assets

-Real estate

The strategic allocation is the proportion of wealth the investor decides to place in each of these asset classes. It is something also referred to as the investor´s long term normal allocation because it is presumed to be the baseline allocation that will remain in place until the investor´s life circumstances change appreciably.

4 0
3 years ago
A machine with a book value of $80,000 has an estimated five-year life. A proposal is offered to sell the old machine for $50,50
34kurt

Answer:

Company should continue with old machine (Alternative 1)

Explanation:

Preparation of a differential analysis dated April 11 on whether to continue with the old machine (Alternative 1) or replace the old machine (Alternative 2)

DIFFERENTIAL ANALYSIS

Continue with old machine(Alternative 1) ; Replace with old machine(Alternative 2); Differential effect on income

REVENUES

Proceeds from sale of machine

$0 $50500 $50500

COSTS

Purchase price $0 -$75000 -$75000

Direct labor -$56000 -$37000 19000

(11200*5 = -56000)

(7400*5 = -37000)

Income (loss) -$56000 -$61500 -$5500

Based on the above differential analysis the Company should continue with OLD MACHINE (Alternative 1)

6 0
3 years ago
Joseph wants to take out a large loan. He has always paid his bills on time and has a fantastic credit score. He has been with h
oksano4ka [1.4K]

Joseph is probably denied credit due to his bad character, which is an essential element of the Three C's of Credit.

<h3>What are the Three C's of Credit?</h3>

To determine the credibility of a person for grant of a loan or an advance, a lender takes into consideration the Three C's of credit, which are as follows,

  1. Character
  2. Capacity
  3. Capital or Collateral.

Collaterals or Capital help in determination of security of lender from borrower, in case when the borrower is unable to repay the credit. Capacity determines the ability to repay the credit.

Character, on the other hand, helps in determination whether the customer or the borrower's behavior, and the qualities of his or her character in the society.

Hence, the three C's of credit are explained above.

Learn more about the Three C's of Credit here:

brainly.com/question/8743350

#SPJ1

7 0
2 years ago
You have received a research report done by a consultant for your firm, a life insurance company. The study is a survey of moral
Semmy [17]

Answer:

The research report must have the following attributes:

  • Easy to read and prepared in very simple language
  • A good report must outlay all arguments and results, facts, and arguments in a way that aligns properly with the objective of the report
  • the report must be prepared on time
  • It must be straightforward. The presentation must be very well articulated, properly spaced, aligned using very clear font types.

Cheers

5 0
3 years ago
Builtrite’s common stock is currently selling for $48 a share and the firm just paid an annual dividend of $2.80 per share. Mana
Misha Larkins [42]

Answer:

So the cost of new stock will be 14.63 %

Explanation:

We have given dividend for next year = $2.80

Stock price = $48

Flotation rate = 5 %

Growth rate = 8 %

We have to find the cost of new common stock

We know that cost of new common stock is given by

Cost of new stock =\frac{dividend\ for\ next\ year}{stock\ price(1-flotation\ rate)}+growth\ rate

= =\frac{2.8\times (1+0.08)}{48\times (1-0.05)}+0.08=0.1463=14.63%

So the cost of new stock will be 14.63 %

4 0
3 years ago
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