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3 years ago

What is a product line? Why are they used and how do companies determine what to use and how to adjust what is being used?

1 answer:

8 0

A product line is a group of related products produced by one manufacturer they use product lines to gauge trend a find out which markets to target they use whatever is being sold the most and go from there

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On January 1, 2017, Eagle borrows $16,000 cash by signing a four-year, 5% installment note. The note requires four equal total p

goblinko [34]

Answer:

Issuance - January 1, 2017

Cash $16,000 (debit)

Note Payable $16,000 (credit)

December 31, 2017

Interest Expense $800 (debit)

Note Payable $3,712.19 (debit)

Cash $4,512.19 (credit)

December 31, 2018

Interest Expense $614.39 (debit)

Note Payable $3,897.80 (debit)

Cash $4,512.19 (credit)

December 31, 2019

Interest Expense $419.50 (debit)

Note Payable $4,092.69 (debit)

Cash $4,512.19 (credit)

December 31, 2020

Interest Expense $214.87 (debit)

Note Payable $4,297.32 (debit)

Cash $4,512.19 (credit)

Explanation:

The Loan Amortization Schedule is most appropriate way to solve all parts of this problem.

The first step to construction of the Amortization Schedule is to determine the payments made annually, PMT (interest and principal).

Using a Financial calculator, this can be determined as ;

Pv = $16,000

r = 5%

n = 4

Fv = $0

p/yr = 1

Pmt = ?

Thus PMT is $4,512.19.

Amortisation Schedule (Extracted from Financial Calculator)

2017

Principle Payment = $3,712.19

Interest Payment = $800

Balance = $12,287.81

Accounting Entries :

Interest Expense $800 (debit)

Note Payable $3,712.19 (debit)

Cash $4,512.19 (credit)

2018

Principle Payment = $3,897.80

Interest Payment = $614.39

Balance = $8,390

Accounting Entries :

Interest Expense $614.39 (debit)

Note Payable $3,897.80 (debit)

Cash $4,512.19 (credit)

2019

Principle Payment = $4,092.69

Interest Payment = $419.50

Balance = $4,297.32

Accounting Entries :

Interest Expense $419.50 (debit)

Note Payable $4,092.69 (debit)

Cash $4,512.19 (credit)

2020

Principle Payment = $4,297.32

Interest Payment = $214.87

Balance = $0

Accounting Entries :

Interest Expense $214.87 (debit)

Note Payable $4,297.32 (debit)

Cash $4,512.19 (credit)

8 0

3 years ago

The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 2900 units, the actual direct

pashok25 [27]

Answer:

$5400 Favorable

Explanation:

Standard 2 hour at $15 per hour

Standard hours 2 hour per unit * 2900 units = 5800 hours

Total Standard cost = 5800 hours * $15 per hour = $87,000

Actual hours = 5100

Actual cost = $81600 / 5100 hours = $16 per hour

Variance = Standard - Actual

Labor hour Variance Favorable = 700 hours (5800 hours - 5100 hours)

Total Labor variance = $5400 ($87,000 - $81,600)

4 0

3 years ago

Lillypad Toys is a manufacturer of educational toys for children. Six months ago, the company's research and development divisio

Reptile [31]

Answer:

Option A; INCREASED COMPETITION FROM IMITATORS.

Explanation:

Innovation occurs only when something is entirely new, having never been done before. Innovation also exist when something which may have been done elsewhere is done for the first time in a given industry.

On the other hand, when other competitors in the same industry subsequently copy the innovator, even though it is something new for them, then it is imitation.

When a company comes out with a new product, its competitors typically go on the defensive, doing whatever they can to reduce the odds that the offering will eat into their sales. Responses might include: cranking up marketing efforts, offering discounts to channel partners and even lobbying for regulations that would hinder the rival's expansion.

Therefore, Lilypad's managers should prepare for INCREASED COMPETITION FROM IMITATORS next.

7 0

2 years ago

Janice is going to give her patient a bath. she has the option of using prepackaged bathing wipes or a bath basin and washcloths

Hoochie [10]

Janice's choice is an example of fiscal responsibility. Fiscal responsibility is characterized as utilizing the assets of the patient to amplify medical advantages while at the same time using the assets of the organization to boost cost-adequacy. Being monetarily dependable means settling on capable asset portion choices.

7 0

3 years ago

The Jamesway Corporation had the following situations on December 2021.On December 10, 2021, Jamesway received a $4,000 payment

hjlf

Answer:

Date Particulars Debit Credit

Deferred Service Revenue A/c $4,000

To Revenue A/c $4,000

(Being Revenue recognized)

Advertisement Expense A/c $2,600

To Prepaid Advertisement A/c $2, 600

(Being expense recognized)

Employees Salaries A/c $16,000

To Outstanding Employees Salaries A/c $16,000

(Being expense & liability recorded)

Interest expense A/c $1,600

To Interest Liability A/c $1,600

(Being Interest expense & Liability for the

month September to December recorded)

Assumptions & Working notes:-

i) Since service is performed in the same financial year revenue is transferred from deferred revenue account to revenue account.

ii) Since 20 advertisements shown in the month of December only so expense related to those 20 is recognized in the month of December and remaining in the month of January.

$5,200/40*20 = $2,600

iii) Since salaries are paid in month of January but this is the expense for the month of December we recorded above entry.

iv) Interest Expense for months September to December is recorded and corresponding liability is created.

($60,000 * 8%) / 12 * 4 = $ 1,600

6 0

3 years ago