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bekas [8.4K]
3 years ago
11

The following data refers to Huron Corporation for the year 20x2.

Business
1 answer:
Molodets [167]3 years ago
3 0

Answer:

1. schedule of cost of goods manufactured for 20x2

Beginning Work In Process Inventory                                            $ 0

Direct  Materials ($89,000 + $731,000 - $59,000 - $45,000) $716,000

Direct Labor                                                                                 $474,000

Applied manufacturing overhead                                              $577,500

Less Ending Work In Process Inventory                                    ($40,000)

cost of goods manufactured                                                    $1,727,500

2. schedule of cost of goods sold for 20x2.

Beginning Finished goods inventory                     $35,000

Add cost of goods manufactured                       $1,727,500

Less Ending Finished goods inventory                ($40,000)

Cost of Goods Sold                                             $1,722,500

Adjustment :

Less Under-applied Overheads                             ($2,500)

Adjusted Cost of Goods Sold                            $1,720,000

3. income statement for 20x2.

Sales revenue                                                    $2,105,000

Less Cost of Goods Sold                                 ($1,720,000)

Gross Profit                                                          $385,000

Less Expenses :

Selling and administrative expenses               ($269,000)

Net Profit Before tax                                             $116,000

Income tax expense                                            ($25,000)

Net Income after tax                                              $91,000

Explanation:

Calculation of Actual Overheads Incurred

Indirect labor                                                    $150,000

Property taxes on factory                                 $90,000

Depreciation on factory building                    $125,000

Indirect material used                                       $45,000

Depreciation on factory equipment                $60,000

Insurance on factory and equipment              $40,000

Utilities for factory                                             $70,000

Actual Overheads Incurred                            $580,000

Now,

Where Applied Overheads is $577,500 and Actual Overheads is $580,000, we have an underapplied situation of $2,500 ($580,000 - $577,500).

This under-applied amount is closed off to the cost of goods sold.

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An offer that cannot be revoked because an offeror promises to hold the offer open for a specified time in exchange for payment
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Answer:

Option Contract

Explanation:

According to the Laws Termination of the Power of Acceptance, there are four types of offer terms. These types are Counter Offer, Option Contract, Conditional or Qualified Acceptance, and Firm Offer. With these 4 types being the options, based on the description given in the question we can say that the one being described is an Optional Contract. Which as described in the question is a contract that is held open for a period of time in which it cannot be revoked.

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6 0
3 years ago
Your bank account pays an interest rate of 8 percent. You are considering buying a share of stock in XYZ Corporation for $110. A
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Your bank account pays an interest rate of 8 percent. You are considering buying a share of stock in XYZ Corporation for $110. After 1, 2, and 3 years, it will pay a dividend of $5. You expect to sell the stock after 3 years for $120. Is XYZ a good investment-This statement is False

Explanation:

Your bank account pays an interest rate of 8 percent. You are considering buying a share of stock in XYZ Corporation for $110. After 1, 2, and 3 years, it will pay a dividend of $5. You expect to sell the stock after 3 years for $120. Is XYZ a good investment

The above statement is false, since it is a bad investment because after figuring out the stock's value you get $108.15, which is less than what you initially paid for it.

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You want to write a press release about a free new app you're offering. The app allows people to keep track of what they've eate
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The principle of reciprocity is being used when emphasizing the free nature of the useful tool in the press release, as this principle generates a reciprocal response to individuals.

<h3 /><h3>What is the principle of reciprocity?</h3>

It corresponds to an approach developed by Cialdini, who states that reciprocity is the first principle of persuasion, as individuals are conditioned to reciprocate favors and concessions to others.

Therefore, by using the principle of reciprocity, emphasizing the free nature of the new app, the company hopes to generate more attention, use and positive response from the target audience as a form of retribution.

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The S&amp;P 500 index delivered a return of 20%, -10%, 20%, and 5% over four successive years.
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Answer:

C) 8.75%

Explanation:

Number of periods = 4 years

Given return rates = 20%, -10%, 20%, and 5%

To obtain the arithmetic average annual return, add the return rates given for all periods and divide the sum by the number of periods.

AAR = \frac{20-10+ 20+ 5}{4} \\AAR=8.75\%

Over four years, the S&P 500 index delivered an arithmetic average annual return of 8.75%.

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The approach known as polycentric management orientation is one in which companies and organizations think there is always a distinctive strategy in every global market. This entails hiring and advancing suitable people from the same nation or region that the company works in. It primarily aims to lower hiring costs.

On the other side, the huge multinational firms that tend to construct groups of nations or regions where their branches are located and then develop policies and strategies that would only be relevant in those nations or regions are known as "regiocentric management orientation."

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