Answer:
$50.57 ; $175,573.6
Explanation:
The computation of the fixed and variable portions of overhead costs based on machine-hours using high low method is shown below:
Variable cost per hour = (High Overhead cost - low overhead cost) ÷ (High machine hours - low service hours)
= ($581,145 - $503,775) ÷ (8,020 hours - 6,490 hours)
= $77,370 ÷ 1,530 hours
= $50.57
Now the fixed cost equal to
= High overhead cost - (High machine hours × Variable cost per hour)
= $581,145 - (8,020 hours × $50.57)
= $581,145 - $405,571.4
= $175,573.60
Answer:
a. -$210,000
b. $455,000
Explanation:
a. Company's net income
Sales. 2,275,000
Less:
Cost of goods sold
1,285,000
Administrative and selling expenses
535,000
Depreciation expense
420,000
EBIT
35,000
Less interest
245,000
Taxable income
-$210,000
Taxes 21%
Nil
Net income
-$210,000
b. The operating cash flow for the year
OCF = EBIT + depreciation - taxes
OCF = 35,000 + 420,000 - 0
OCF = $455,000
c. Net income was negative due to the deductibility of interest expense and depreciation.
The actual operating cash flow was positive due to the fact that depreciation is a non cash expense, and also interest is a financing and not an operating expense.
Answer: D. A)is a philosophy of managing a set of business practices that emphasizes continuous improvement in all phases of operations, 100% accuracy in performing tasks, involvement and empowerment of employees at all levels, team-based work design, benchmarking, and total customer satisfaction.
Explanation: Total Quality Management (TQM) is simply a management approach to long-term success that is attained through customer satisfaction, improving customer experience, detection and reduction or elimination of errors in manufacturing, streamlining supply chain management, training of workers etc. with the aim of holding all parties involved in the production process accountable for the overall product or service quality. It is therefore, a philosophy of managing a set of business practices that emphasizes continuous improvement in all phases of operations, 100% accuracy in performing tasks, involvement and empowerment of employees at all levels, team-based work design, benchmarking, and total customer satisfaction.
Answer: B. Metes and Bounds System
Explanation: The metes and bounds system is an old system of land surveying practiced many centuries ago whereby land boundaries are determined using features such as flowers, trees, river, roads, pole etc. It was a system used before the advent of modern surveying instruments.
•Metes refers to determining boundary by measuring straight run between two points.
•Bounds is the use of features such as rocks, water course, etc to define boundary, this is used for large portion of property such as political boundaries between two towns.
Here is a link to help you http://www.sciencebuddies.org/science-fair-projects/project_scientific_method.shtml
