Out of insurance paid this year 3000 is for next year

a company produces a single product. variable production costs are $14.00 per unit and variable selling and administrative expen

My name is Ann [436]

The value of the ending inventory under variable costing is calculated to be $19,600.

To determine the value of the ending inventory under variable costing we first find out the units in the ending inventory as follows;

Units in ending inventory = Units in beginning inventory + Produced units − Sold units

Units in ending inventory = 0 + 6000 - 4600

Units in ending inventory = 1400

Now the value of the ending inventory under variable costing can be determined by multiplying units in the ending inventory by the variable production cost as follows;

Value of Ending inventory = Unit in ending inventory × Variable production cost

Value of Ending inventory = 1400 × 14

Value of Ending inventory = $19,600

Hence, the value of the ending inventory would be $19,600 under variable costing.

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5 0

1 year ago

A benchmark market value index is comprised of three stocks. yesterday the three stocks were priced at $12, $20, and $60. the nu

Olenka [21]

Answer: The one day rate of return on the stock is 1.49%

We arrive at the answer in the following manner:

First we need to calculate yesterday's and today's index values.

For that we need to find weights of each day based on market capitalization.

$Market Capitalization _{ a stock} = Market Price * No .of outstanding shares$

The weight of a company in the index is calculated by dividing the market capitalization of a company by the total market capitalization of all the companies whose shares are a part of the index.

$Weight_{Company A} =\frac{Mkt Cap of company A}{Total Market cap}$

Then, we multiply the share price of each company with their respective weights and find the total to arrive at the index value for one day.

Yesterday's Index Value

Stock Price No. of shares Mkt Cap Weight Weight*Price

A 12 600000 7200000 0.25 2.96 (0.25*12)

B 20 500000 10000000 0.34 6.85(0.34*20)

C 60 200000 12000000 0.41 24.66 (0.41*60)

Total 29200000 1.00 34.47

We calculate the weight for stock A as follows:

$Weight_{A} =\frac{72,00,000}{2,92,00,000} = 0.2466 = 0.25$

We calculate the weights of the remaining stocks in a similar manner.

Please note that the sum total of all weights must add up to 1.

The sum total of the last column (Price * Weight) is yesterday's index value.

We repeat the same steps with today's market price to arrive at today's index value.

Today's index Value

Stock Price No. of shares Mkt Cap Weight Weight*Price

A 16 600000 96,00,000 0.31 4.95 (0.31*16)

B 18 500000 90,00,000 0.29 5.23 (0.29*18)

C 62 200000 1,24,00,000 0.40 24.80(0.40*62)

Total 3,10,00,000 1.00 34.98

One-day Rate of Return

We can calculate the one day rate of return on the index as follows:

$Rate of return = [\frac{(Today's index value - Yesterday's index value}{Yesterday's index value}) * 100$

$Rate of Return = ( \frac{34.98 - 34.47}{34.47}) * 100$

$Rate of return = (\frac{0.51}{34.47}) *100$

Rate of return = 0.01494 or 1.49%

8 0

3 years ago

Rider Company is in the process of preparing it closing entries. It first closes its revenue accounts by crediting the Income Su

Ksivusya [100]

Answer:

B. Debit Income summary Debit $ 23,000

Retained Earnings Credit $ 23,000

Explanation:

The closing entries are recorded to close the current year's income statement to the retained earnings account,

According to the data in the question, the revenue is closed to the credit of the income Summary of $ 68,000 and the expenses are closed to the debit of the Income Summary of $ 45,000. This leaves a credit balance of $ 23,000 in the income summary account which is closed by debiting the income summary account and crediting the retained earnings account.

Since the revenue exceeded the expenses, the result ia a profir which should increase the retained earnings account, which would be the case by a credit to the retained earnings account.

7 0

3 years ago

On March 15, American Eagle declares a quarterly cash dividend of $0.075 per share payable on April 13 to all stockholders of re

slava [35]

Answer:

The Journal entries are as follows:

(i) On March 15,

Dividend [0.075×220,000,000] A/c Dr. $16,500,000

To dividend payable $16,500,000

(To record the declaration of cash dividends)

(ii) On March 30,

No Journal entry required

(iii) On April 13,

Dividend payable A/c Dr. $16,500,000

To cash $16,500,000

(To record the payment of cash dividends for its 220 million shares)

6 0

3 years ago

A poll asked adults in a certain country whether immigration was a good thing or a bad thing for the country. out of 10871087 r

Lubov Fominskaja [6]

A

395395/10871087 x 100%= 3.64% of people said it was a good thing

7 0

3 years ago