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stepan [7]
3 years ago
10

Exercise 7-1 The controller for Clint Metlock Co. is attempting to determine the amount of cash to be reported on its December 3

1, 2017 balance sheet. The following information is provided. 1. Commercial savings account of $617,400 and a commercial checking account balance of $891,200 are held at First National Bank of Yojimbo. 2. Money market fund account held at Volonte Co. (a mutual fund organization) permits Metlock to write checks on this balance, $5,217,600. 3. Travel advances of $197,300 for executive travel for the first quarter of next year (employee to reimburse through salary reduction) 4. A separate cash fund in the amount of $1,492,100 is restricted for the retirement of long-term debt. 5. Petty cash fund of $1,480. 6. An I.O.U. from Marianne Koch, a company customer, in the amount of $165,200 7. A bank overdraft of $112,900 has occurred at one of the banks the company uses to deposit its cash receipts. At the present time, the company has no deposits at this bank. 8. The company has two certificates of deposit, each totaling $664,800. These CDs have a maturity of 120 days 9. Metlock has received a check that is dated January 12, 2018, in the amount of $135,070. 10. Metlock has agreed to maintain a cash balance of $490,000 at all times at First National Bank of Yojimbo to ensure future credit availability. 11. Metlock has purchased $1,962,300 of commercial paper of Sergio Leone Co. which is due in 60 days.12. Currency and coin on hand amounted to $8,251 (a) Compute the amount of cash and cash equivalents to be reported on Metlock Co.'s balance sheet at December 31, 2017 The amount of Cash and Cash Equivalents reported on December 31, 2017
Business
1 answer:
Anettt [7]3 years ago
3 0

Answer:

The amount of cash and cash Equivalents reported on December 31, 2017.

$8,698,231    

Explanation:

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
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The Big Black Bird Company (BBBC) has a large order for special plastic-lined military uniforms to be used in an urgent military
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Answer:

A. Multifactor productivity

Original Value of output 2500 un. x $200/un. = $500,000 Value of input 2500 un x $120/un. = $300,000 Multi-factor productivity $500,000/$300,000 = 1.67 Overtime Value of output 4000 un. x $200/un. = $800,000 Value of input 4000 un. x $144/un. = $576,000 Multi-factor productivity $800,000/$576,000 = 1.39 Multi-factor productivity (1.67 – 1.39) / 1.67 = 16.8% decrease

B. LABOR PRODUCTIVITY

Original Value of output 2500 un. x $200/un. = $500,000 Input = (100 people x 40 hr/person) = 4000 hours Labor productivity $500,000/4000 hr = $125/hr Overtime Value of output 4000 un. x $200/un. = $800,000 Input = (100 people x 72 hr/person) = 7200 hours Labor productivity $800,000/7200 hr = $111/hr Labor productivity ($125/hr – $111/hr) / $125/hr = 11.1% decrease

C.GROSS PROFITS

Original $500,000 - $300,000 = $200,000 Overtime $800,000 - $576,000 = $224,000

$24,000 increase

5 0
3 years ago
TB MC Qu. 06-49 Radakovich Corporation has provided the... Radakovich Corporation has provided the following data from its activ
Crank

Answer:

$8,460

Explanation:

The computation of product margin for product F60N is shown below:-

Total overhead cost = ($1,372,578 × 1,200 ÷ 61,800) + ($63,235 × 78 ÷ 2,010) + ($151,316 × 34 ÷ 2,090)

= $26,652 + $2,454 + $2,462

= $31,568

Per unit overhead cost = $31,568 ÷ 600

= $52.61

Per unit cost = Direct material + Direct labor + Overhead cost

= $49.55 + $12.44 + $52.61

= $114.60

Finally

product margin for product F60N is = (Selling price - Per unit Cost) × Number of units sold

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= $8,460

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Integrity-based ethics programs:
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Answer: Option B

                                             

Explanation:  In simple words, integrity based ethics programs refers to the program that an organisation initiates within the workplace with the expectation that employees will follow the defined rules and methods leading to lawful and ethical conduct of activities.  

By using such programs, organisation tries to bring up good results from the company operations, avoidance of potential lawsuits and set a positive image in the eyes of customers.

Hence from the above we can conclude that the correct option is B.

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