Which is not true with regard to public relations internships?

In the short run, a firm's total costs of producing the hundredth unit of output equal $9 comma 000. If it produces one more

Masteriza [31]

Answer:

The marginal cost for producing the 101th unit is $100

Explanation:

The marginal cost can be defined as the cost of producing an additional unit of output. It can be traced by increasing the total output by one unit and tracing the change in the total cost as a result of this one unit increase in output.

The total cost of producing 100 units is $9000

The total cost of producing 101 units is $9100

The marginal cost of 101th unit is = Total cost of 101 units - total cost of 100 units

The marginal cost of 101th unit = 9100 - 9000 = $100

6 0

3 years ago

Velocity, a consulting firm, enters into a contract to help Burger Boy, a fast-food restaurant, design a marketing strategy to c

Genrish500 [490]

Answer:

1. Possible prices (A) Prob. (B) Exp. consideration (A*B)

[($78,000*8m)+$26,000] $650,000 80% $520,000

[($78,000*8m)-$26,. 000] $598,000 20% $119,600

Expected value at contract inception $639,600

Date General Journal Debit Credit

Accounts Receivable $78,000

Bonus Receivable $1,950

Service Revenue $79,950

($639,000/8 months)

(To record the service revenue for the first four months)

2. Possible prices (A) Prob. (B) Exp. consideration (A*B)

[($78,000*8m)+$26,000] $650,000 60% $390,000

[($78,000*8m)-$26,. 000] $598,000 40% $239,200

Transaction price after four months $629,200

Date General Journal Debit Credit

Service Revenue $5,200

Bonus Receivable $5,200

([$629,200 - ($78,000*8 months)]

(To adjust the excess amount of bonus)

3. Date General Journal Debit Credit

Accounts Receivable $78,000

Bonus Receivable $650

Service Revenue $78,650

($629,200/8 months)

(To record the service revenue for the last four months)

4. Date General Journal Debit Credit

Cash $26,000

Bonus Receivable $5,200

Service Revenue $20,800

(To record the receipt of bonus)

4 0

3 years ago

Jamison Company has the following obligations at December 31: For each obligation, indicate whether it should be classified as a

Rashid [163]

Answer:

Explanation:

The current liability is that liability in which the obligation is arise for one year or less than one year.

So, the categorization is shown below:

a. A note payable for $100,000 due in 2 years. = It is not a current liability as it is due in 2 years that come under the long term liability

b. A 10-year mortgage payable of $300,000 payable in ten $30,000 annual payments. = Current liability for first annual payment only and rest is consider to be long term liability

c. Interest payable of $15,000 on the mortgage. = Current liability as it is arise within one year

d. Accounts payable of $60,000. = Current liability as it is arise within one year

The current liability is shown on the liabilities side of the balance sheet.

7 0

3 years ago

The production department in a process manufacturing system completed 94,000 units of product and transferred them to finished g

Fofino [41]

Answer:

Weighted Average Method.

a. 110,700 units

b. 106,525 units

c. 82,090 units

FIFO

a. 85,500 units

b. 95,245 units

c. 99,010 units

Explanation:

Calculation of equivalent units of production with respect to direct materials.

FIFO.

a. All direct materials are added to products when processing begins.

Materials

To finish Opening Work in Process 0

Started and Completed 65,800

Closing Work in process (16,700 × 100%) 16,700

Total equivalent units of production 85,500

b. Beginning inventory is 40% complete to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs

Materials

To finish Opening Work in Process (28,200 × 60%) 16,920

Started and Completed (65,800 × 100%) 65,800

Closing Work in process (16,700 × 75%) 12,525

Total equivalent units of production 95,245

c. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending Inventory is 30% complete as to materials and 60% complete to conversion costs.

Materials

To finish Opening Work in Process (28,200 × 40%) 11,280

Started and Completed (65,800 × 100%) 65,800

Closing Work in process (16,700 × 30%) 5,010

Total equivalent units of production 82,090

Weighted Average Method.

a. All direct materials are added to products when processing begins.

Materials

Completed and transferred (94,000 × 100%) 94,000

Closing Work in process (16,700 × 100%) 16,700

Total equivalent units of production 110,700

b. Beginning inventory is 40% complete to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs

Materials

Completed and transferred (94,000 × 100%) 94,000

Closing Work in process (16,700 × 75%) 12,525

Total equivalent units of production 106,525

c. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending Inventory is 30% complete as to materials and 60% complete to conversion costs.

Materials

Completed and transferred (94,000 × 100%) 94,000

Closing Work in process (16,700 × 30%) 5,010

Total equivalent units of production 99,010

8 0

3 years ago

he net income of the Travis and Tucker partnership is $125,000. The partnership agreement specifies that profits and losses will

frosja888 [35]

Answer:

The balance of Tucker's Capital account at the end of the year after profits and losses have been distributed is $412,500

Explanation:

The capital account of a partner in a partnership is an account that shows the equity ownership of that particular partner in the partnership.

The capital of a partner in the partnership is increased by additional cash capital or asset contribution, salary, share of profit, etc., while the capital is reduced by drawing, interest on drawing, share of loss, and others.

The balance of Tucker's Capital account at the end of the year after profits and losses have been distributed can be calculated as follows:

Tucker's Capital account

Particulars $

Beginning balance 325,000

Salary 150,000

Share of partnership loss (w.2) (62,500)

Ending balance  412,500 

Working:

1. Partnership profit (loss) to distribute = Net income - partners' salaries = $125,000 - $100,000 - $150,000 = ($125,000)

2. Share of profit (loss) = ($125,000) / 2 = ($62,500)

6 0

4 years ago