What payroll deductions might change depending on the state you live in

The federal deposit insurance corporation insures bank accounts up to a particular amount. this means that if the bank fails, th

Marizza181 [45]

This is a true statement if that's what you were looking for

7 0

3 years ago

The amount of money collected by a snack bar at a large university has been recorded daily for the past five years. Records indi

disa [49]

Answer:

A) skewed to the right with a mean of $4000 and a standard deviation of $450.

Explanation:

While the days are picked at random, the size of the sample is enough to represent the reality. Among the random pick those days of football game will be picked too and will skewed to the right the distribution

The distribution will not change into normal as the reality is that distribution of revenue is not normally distributed among the days of the year.

3 0

3 years ago

Coache Corporation is considering a capital budgeting project that would require an investment of $120,000 in equipment with a 4

Kaylis [27]

Answer:

a. $44,000

Explanation:

The computation of the total cash flow net of income taxes in year 3 is shown below:

= Incremental sales - annual incremental cash operating expenses - one-time renovation expense - depreciation expense - income tax expense + depreciation expense

= $310,000 - $230,000 - $30,000 - $30,000 - $6,000 + $30,000

= $44,000

Since depreciation is a non-cash expense so it would be added back to the computation part

The depreciation expense would be

= (Original cost - residual value) ÷ (useful life)

= ($120,000 - $0) ÷ (4 years)

= ($120,000) ÷ (4 years)

= $30,000

And, the income tax expense would be

= (Incremental sales - annual incremental cash operating expenses - one-time renovation expense - depreciation expense) × tax rate

= ($310,000 - $230,000 - $30,000 - $30,000) × 30%

= $20,000 × 30%

= $6,000

6 0

3 years ago

Epa rules require capture of 80% of the refrigerant from a small appliance sealed system with a non-operating compressor if tech

ki77a [65]

Epa rules require capture of 80% of the refrigerant from a small appliance sealed system with a non-operating compressor if technicians are using: <span>Self-contained (active) process. </span>This requirement makes it easier for the technicians to install a safe and environmentally friendly product for the customer and speed up the time of the procedure.

3 0

3 years ago

Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $530,000, and factory payro

shtirl [24]

Answer:

Marcelino Co.

a. Total materials purchases = $530,000

b. Direct materials used in production:

Beginning balance of direct materials = $73,000

Current direct materials used = 442,000

Total materials used in production = $515,000

c. Direct labor paid and assigned to Work in Process Inventory:

Job 307 Job 308 Total

Beginning Direct labor $17,000 $17,000

Current Direct labor 153,000 $102,000 255,000

Total Direct labor $170,000 $102,000 $272,000

d. Indirect labor paid and assigned to Factory Overhead:

Indirect labor $28,000

Applied = $27,720 (99% ($193,000/$195,000))

e. Overhead costs applied to Work in Process Inventory

=

Job 307 Job 308 Total

76,500 51,000 $127,500

f. Actual overhead costs incurred and paid in cash:

Indirect materials $51,000

Indirect labor, $28,000

Factory rent, $40,000

Factory utilities, $25,000

Total overhead costs = $144,000

g. Transfer of Jobs 306 and 307 to Finished Goods Inventory:

Job 307 Job 308 Total

Balances on March 31

Direct materials $42,000 $42,000

Direct labor 17,000 17,000

Applied overhead 8,500 8,500

Costs during April

Direct materials 210,000 $100,000 $310,000

Direct labor 153,000 102,000 255,000

Applied overhead 76,500 51,000 127,500

Total cost $507,000 $253,000 $760,000

h. Cost of goods sold for Job 306 = $349,000

i. Revenue from the sale of Job 306 = $700,000

j. Assignment of underapplied overhead to the Cost of Goods Sold account:

Total overhead applied = $179,000

Total overhead incurred = 195,000

Underapplied overhead = $16,000

Explanation:

a) Data and Calculations:

Raw materials Inventory (March 31) $88,000

Purchases of raw materials during April = $530,000

Factory Payroll cost = $386,000

Overhead costs =

Indirect materials $51,000

Indirect labor, $28,000

Factory rent, $40,000

Factory utilities, $25,000

Factory equipment depreciation, $51,000

Total overhead costs = $195,000

Job 306 Job 307 Job 308 Total

Balances on March 31

Direct materials $31,000 $42,000 $73,000

Direct labor 21,000 17,000 38,000

Applied overhead 10,500 8,500 19,000

Balances $62,500 $67,500 $130,000

Costs during April

Direct materials 132,000 210,000 $100,000 $442,000

Direct labor 103,000 153,000 102,000 358,000

Applied overhead 51,500 76,500 51,000 179,000

Total cost $349,000 $507,000 $253,000 $1,109,000

7 0

3 years ago