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pshichka [43]
3 years ago
7

Suppose Chef Kitchen manufactures cast iron skillets. One model is a​ 10-inch skillet that sells for $ 28 . Chef Kitchen project

s sales of 625 ​10-inch skillets per month. The production costs are $ 6 per skillet for direct​ materials, $ 3 per skillet for direct​ labor, and $ 5 per skillet for manufacturing overhead. Chef Kitchen has 60 ​10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to 40 ​% of the next​ month's sales. Selling and administrative expenses for this product line are $ 1,000 per month.
Required:
1. How many 10-inch skillets should Chef Plus produce in July?
Business
1 answer:
Lerok [7]3 years ago
6 0

Answer:

production schedule for July = 815 10-inch skillets

Explanation:

price of 10-inch skillet $28

projected sales 625 units

costs:

  • direct materials $6
  • direct labor $3
  • manufacturing overhead $5
  • sales and administrative expenses $1,000

beginning inventory 60 units

ending inventory 40% of August sales

production during July = (projected sales - beginning inventory) + (40% x projected sales August) = (625 units - 60 units) + (40% x 625 units) = 565 units + 250 units = 815 10-inch skillets

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Sedbober [7]

Answer:

Keeping its interest rates low

Explanation:

Interest rates correlate with the exchange rate of a country. Low-interest rates are unattractive to foreign investors. Investors associate low-interest rates with reduced returns. In the foreign exchange market, the demand for such a country's currency will below, resulting in a lower exchange rate against other currencies.

If a country has low-interest rates, its currency will be in low demand, meaning its strength will be relatively weaker against the US dollar.  One dollar will be able to buy a large quantity of goods and services from such a country. In other words, that country's exports will be cheaper in the USA.

8 0
3 years ago
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Anna recently opened a savings account in a federally insured bank; she made three deposits in the amounts of $100,000, $65,000
Ghella [55]
$250,000  
Federal Deposit Insurance Corporation (FDIC) was created by the 1933 Banking Act during the Great Depression (June 16 1933). It's purpose was to restore trust in the banking system. Initially, the insured limit was $2,500, but over the years it has increased. The limits over time are: 1934 – $2,500; 1935 – $5,000; 1950 – $10,000; 1966 – $15,000; 1969 – $20,000; 1974 – $40,000; 1980 – $100,000; 2008 – $250,000 The increase from $100,000 to $250,000 was intended on being temporary, but as mentioned in the question, wasn't reduced and is therefore still the current limit. So Anna will be insured up to the $250,000 limit.
4 0
3 years ago
You believe you will spend $40,000 a year for 20 years once you retire in 40 years. If the interest rate is 6% per year, how muc
boyakko [2]

Answer:

We need to save $2,964 each year until retirement to reach our retirement goal.

Explanation:

First lets assume that we have retired, we now need to find the present value of all our future cash flows, which means we need to find out the present value of 40,000 every year. We will input the following in a financial calculator.

FV=0

PMT= -40,000

I=6

N=20

Compute PV= 458,796

This PV is what present amount of the future payments we will need at the start of our retirement which is after 40 years. This represents the amount of money we need to have at the end of 40 years in order to have enough for our retirement. Which means we can use this as the future value. Now we need to find how much do we have to save each year so we have 458,796 at the end of 40 years.

In a financial calculator we will input the following.

FV= 458,796

PV=0

I=6

N=40

Compute PMT= 2,964

We need to save $2,964 each year until retirement to reach our retirement goal.

6 0
4 years ago
When selecting a media vehicle, a media planner calculates the total cost of using a particular medium at the ________.
postnew [5]

Answer:

B. Cost per thousand persons reached

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When selecting a media vehicle, a media planner calculates the total cost of using a particular medium at the cost per thousand persons reached. This refers to a marketing term stating the amount of money that it would cost to reach 1000 people with their advertisement on any given social media platform in order to make people aware of their product or service.

4 0
3 years ago
When treasury stock is resold for more than it was purchased, the difference between its cost and the cash received when resold:
White raven [17]

Answer:

D. Increases stockholders' equity.

Explanation:

In the case when the treasury stock is resold for high amount that was buy so the difference occurs between the cost and the cash collected once it is resold should increase the stockholder equity

As when the treasury stock is sold, the journal entry is

Cash  

       To Treasury stock(cost value)

      To Paid in capital from treasury stock

(being the treasury stock is sold)

So, It doesn't impact the income statement as it is shown in the stockholder equity

3 0
3 years ago
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