1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Travka [436]
3 years ago
11

Huish Awnings makes custom awnings for homes and businesses. The company uses an activity-based costing system for its overhead

costs. The company has provided the following data concerning its annual overhead costs and its activity cost pools Overhead Costs: Production overhead Office expense Total $150,000 100,000 $250,000 Distribution of resource consumption Activity Cost Pools MakingJob Support Other Total Awnings 45% Production overhead Office expenses 40% 15% 100% 8% 6590 2700 100% The amount of activity for the year is as follows Activity Cost Pool Making awnings Job support Other Annual Activity 5,000 metres 200 jobs Not applicable Required: a) Prepare the first-stage allocation of overhead costs to the activity cost pools b) Compute the activity rates for the Making Awnings and Job Support activity cost pools c) Calculate the overhead cost of a job# 452F that involves making 80 yards of awnings d) Prepare a report that determines the margin ofjob# 452F which has direct materials and direct labour cost of $3,000 and sales revenue from of $4,000

Business
1 answer:
viva [34]3 years ago
8 0

Answer:

a  

First stage allocation of overhead costs to the activity cost pools

                                      Making Awnings   Job Support   Other     Total

Production Overhead 67500               60000  22500 150000

Office Expenses           8000               65000 27000 100000

b  

Activity rates (cost per unit of activity)

                                                              Making Awnings    Job Support  

Production Overhead (Cost/annual activity)  13.5               300  

Office Expenses (8000/5000)(65000/200)  1.6                  325

Find attachments for c and d part.

You might be interested in
Imagine you own a small gift shop in a popular but remote tourist location. You want to develop an effective marketing strategy
Arlecino [84]

Answer:

Situational actions on SWOT of a business

Explanation:

<u>Strengths</u>

  • You have especially good relationships with many suppliers due to your years in business and your success.
  • You have developed a software system that makes online orders extremely easy.

<u>Weaknesses</u>

You are dependent upon a few artists to keep you in stock.

<u>Opportunities</u>

Your business is in a location that is easy to get into and out of.

The highway that they have been talking about for years is finally being built.

Two new hotels are scheduled for opening next year.

<u>Threats</u>

It is difficult to hire workers with retail experience in the area.

The price of gas goes up.

Wal-Mart moves into a town a few miles away.

The Post Office decides to cut deliveries on Saturday.

Another gift shop may open next door.

Three marketing actions to ensure the success of the shop and why it will work include:

1. Expand your advertisement outreach for experienced retail workers beyond your location, with motivational packages and incentives. Alternatively, get workers around your location and train them to acquire the required retail experience for the job

2. With increase in the price of gas which affects your profit margin, and taking into cognizance your strength in cusstomer relationship, endeavour to increase your product and service outreach and turnover to mitigate for the addition expenses.

3. With the arrival of Wal-Mart as competitor, you will need to maintain consistency in products and services, as well as offer promotional packages

4 0
3 years ago
The determination of an exchange price acceptable to both the buyer and the seller of a product is called
antoniya [11.8K]

Answer: pricing

Explanation:

Pricing is the determination of an exchange price acceptable to both the buyer and the seller of a product.

When a seller is determining the price of a product, she considers cost of production, projected revenue, price of competitors, market condition and regulation.

A buyer would consider the quality of the product ,economic conditions and utility when deciding on the price to acquire a product.

The different types of pricing strategies are -

1. Penetration pricing - when prices are set very low to attract customers and to gain access into a market.

2. Premium pricing- when prices are set very high so that the product would appeal to certain consumers.

6 0
2 years ago
QUESTION 25 A perfectly competitive firm faces a __________ demand curve. a. downward-sloping b. unit-elastic c. nonlinear d. pe
Alexus [3.1K]

Answer:

The correct answer is letter "D": perfectly elastic.

Explanation:

Perfect Competition is a theoretical market system where competition is at its highest level as possible. Perfectly competitive markets are characterized by:

  • <em>All companies offer an equivalent product.</em>
  • <em>All companies are price takers.</em>
  • <em>All companies have a fairly small market share.</em>
  • <em>Buyers have full quality and pricing knowledge.</em>
  • <em>The company has low barriers or no barriers to entering and leaving an industry .</em>

<em>Plotted in a graph, perfectly competitive goods have a horizontal curve. This is because at any given price any quantity can be demanded. Thus, the curve of perfectly competitive firms is </em><u><em>perfectly elastic</em></u><em>.</em>

5 0
3 years ago
Following is selected financial information from General Mills, Inc., for its fiscal year ended May 29, 2016 ($ millions):
mojhsa [17]

Answer:

General Mills, Inc.

1. Income Statement for the fiscal year ended May 29, 2016:

Revenue                    $16,563.1

Cost of goods sold   $10,733.6

Gross profit                $5,829.5

Total expenses          $4,092.7

Net Income                 $1,736.8

2. General Mills, Inc. Balance Sheet for the fiscal year ended May 29, 2016:

Cash                             $763.7

Non-cash assets      20,948.6

Total assets             $21,712.3

Total liabilities          16,405.2

Stockholders' equity 5,307.1

Total Liab. + equity $21,712.3

3. General Mills, Inc. Statement of Cash Flows for the fiscal year ended May 29, 2016:

Cash from operating activities    $2,629.8

Cash from investing activities             93.4

Cash from financing activities*     (2,293.7)

Net Cash Flows                               $429.5

Cash, beginning year                        334.2

Cash, ending year                           $763.7

Explanation:

a) Interestly, General Mills, Inc.'s income statement shows the financial performance (profit points) of the company when revenue is compared with the cost of goods sold and the expenses.  The first profit point is the gross profit, which is the difference between revenue and cost of goods sold.   The second profit point is the net income, which is the difference between the gross profit and the expenses incurred for the period in running the business.

b) On the other hand, General Mills, Inc.'s balance sheet shows the financial position of the company.  They show what the business owns (assets) and what it owes (liabilities) outsiders and the owners of the company (equity).

c) While, General Mills, Inc.'s statement of cash flows shows the cash flows from operating, financing, and investing activities of the company, and the net cash flows for the period, which can be reconciled to the beginning cash to obtain the ending cash balance.

6 0
3 years ago
Your job pays you only once a year for all the work you did over the previous 12 months. Today, December 31, you just received y
3241004551 [841]

Answer:

$1,924,410.40

Explanation:

Calculation to determine How much money will you have on the date of your retirement 40 years from today

First step is to calculate Next year’s salary

Next year’s salary = $72,500 (1 + ..037)

Next year’s salary = $75,182.50

Second step is to calculate Next year’s deposit

Next year’s deposit = $75,182.50(.05)

Next year’s deposit = $3,759.13

Third step is to find the Present Value (PV) using this formula

PV = C{[1 / (r– g)] – [1 / (r– g)] × [(1 + g) / (1 + r)]^t}

Let plug in the formula

PV = $3,759.13{[1 / (.09 – .037)] – [1 / (.09 – .037)] × [(1 + .037) / (1 + .09)]^40}

PV = $61,268.57

Now let find the Future value (FV) using this formula

FV = PV(1 + r)^t

Let plug in the formula

FV = $61,268.57(1 + .09)^40

FV = $1,924,410.40

Therefore How much money will you have on the date of your retirement 40 years from today is $1,924,410.40

6 0
3 years ago
Other questions:
  • One of the goals of the federal reserve is price stability. for the fed to achieve this​ goal,
    10·1 answer
  • 3. What is the balance sheet equation?​
    10·2 answers
  • "​generally, _________ is a​ company's most expensive promotional tool."
    13·1 answer
  • Distinguish between the short run and the long run. In the short​ run, ______. In the long​ run, ______.
    10·1 answer
  • A company issues $24900000, 5.8%, 20-year bonds to yield 6% on January 1, 2020. Interest is paid on June 30 and December 31. The
    10·1 answer
  • What is one of the first decisions an entrepreneur must make?
    6·2 answers
  • As a person consumes more of a good or service, the person's _____ will increase. At the same time, this person's _____ will dec
    12·1 answer
  • four seasons why it is important for a novice entrepreneur to build positive relationships with customers
    11·2 answers
  • Place in chronological order the lag phenomena associated with the use of fiscal policy to smooth business cycles.
    10·1 answer
  • What are the implications of using criteria, such as baldrige, in assessing organizational culture needs? explain
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!