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Karolina [17]
3 years ago
14

Calculate working capital and current ratio Firm O has accounts receivable of $31,000, cash of $14,600, property, plant, and equ

ipment of $320,000, merchandise inventory of $43,200, accounts payable of $22,100, other accrued liabilities of $7,500, common stock of $250,000, and retained earnings of $129,200.
Required:

Calculate Firm Nâs working capital and current ratio.
Business
1 answer:
Contact [7]3 years ago
5 0

Answer:

Working capital=$59,200

Current ratio= 3 :1

Explanation:

Current ratio = current assets/ current liabilities

Current ratio = 31000+ 14600+432000 =88800

Current liabilities = 22,100+7,500 = 29600

Working capital = Current asset - current liabilities

= 88800  -  29600=59200

Working capital=$59,200

Current ratio = Current asset /current liabilities

                   =  88800 /29600  = 3 :1

Current ratio= 3 :1

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Characteristics of Production Process, Cost Measurement Vince Melders, of EcoScape Company, designs and installs custom lawn and
Ugo [173]

Answer:

1) Job-order costing

2)$ 7.2 per direct labor hour

3)$ 7.941 per direct labor hour

4)Cost of installation= $ 4108.23

Explanation:

In job order costing the cost accounting procedures are designed to assign costs to each job. Then the costs assigned to each job are averaged over the units of production in the job to obtain an average cost per unit.

A process costing system accumulates all production costs for a large number of units of outputs and then these costs are averaged over all the units.

1) As each job is different, requiring different materials and labor for installing the systems Job-order costing will be used.

2) If normal costing is used then the  Overhead cost are $50,328

Number of direct labor hours are 6,990

The overhead rate=Overhead costs/ Number of direct labor hours

The overhead rate=$50,328/6,990= $ 7.2 per direct labor hour

3) The average actual wage rate = Actual Overhead costs / Number of direct labor hours

The average actual wage rate = $48,043.05/ 6,050=$ 7.941 per direct labor hour

4) Direct materials=$3,540

Direct labor hours= 30

Actual Direct Labor rate =  ($66,550/6,050 )= $ 11

Direct Labor = ($66,550/6,050 )*30 =11*30=$ 330

Overheads 30 *7.941= $ 238.23

Cost of installation= $3,540 +$ 330+$ 238.23= $ 4108.23

5 0
3 years ago
Which of the following actions helps a company find the game plan for​ long-run survival and growth that makes the most sense gi
Papessa [141]

Answer: (D) Strategic planning

Explanation:

  The strategic planning is one of the business documenting process in which the various types of directions and suggestions are given to the small organization or the business.

The main objective of the strategic planning is that it helps in establishing the the actual direction to the companies for the long term goals and also helps in making various types of decisions.

According to the given question, the strategic planning is one of the type of action which is specifically taken by an organization that helps the growth o the company.  

 Therefore,  Option (D) is correct answer.  

 

4 0
3 years ago
The cases filed at The Cross Company related to gender discrimination include one in which a 33-year-old sales representative wa
Romashka-Z-Leto [24]

Answer:

Title VII of the CRA

Explanation:

Title VII of the Civil Rights Act (CRA) is a landmark federal law that aims to protect employees against discrimination based on race, colour, sex, nation of origin, or religion.

The act was made law in 1964.

In the given scenario a female sales representative with excellent performance review was not promoted for 8 years, while Jim a male sales representative was promoted in just 18 months.

This is a gender based discrimination and is covered by Title VII of the CRA.

Age discrimination does not apply because it addresses discrimination of employees with minimum age of 40 years.

Equity act requires that employees on the same job role are compensated equally. This does not also apply.

Rehabilitation act prevents discrimination based on disability. This does not also apply

5 0
3 years ago
Environmental Designs issues 3,000 shares of its $1 par value common stock at $15 per
patriot [66]

Environmental Designs issues 3,000 stocks of its $1 par cost not unusual stock at $15 per share. magazine entries required

1) coins (3000 stocks x $ 15) $45,000  

    not unusual stock - at par (3000 shares x $ 1 par)= $3,000

    extra paid-in capital in extra of Par - not unusual inventory                           $45,000 - $three,000= $forty two,000

 (to document issuance of stock)    

     

2) coins $45,000  

    not unusual inventory - no par   $45,000

 (to document issuance of stock)    

Examples of the environmental designs technique encompass the use of roadway noise laptop fashions in the design of noise obstacles and the use of roadway air dispersion fashions in reading and designing city highways.

Environmental design is the ordering of the big-scale factors of the environment by means of structure, engineering, panorama architecture, urban making plans, regional planning, and so forth., typically in a mixture. the have a look at or exercise of this.

An environmental design diploma is an education program that teaches college students how to design environmentally sustainable areas. students enrolled in this degree program discover ways to make design selections that benefit both human beings and the herbal surroundings.

Learn more about environmental design here: brainly.com/question/12393940

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8 0
1 year ago
Echo Corporation uses a job-order costing system and applies overhead to jobs using a predetermined overhead rate. During the ye
ozzi

Answer:

Actual overhead= $153,400

Explanation:

Giving the following information:

During the year the company's Finished Goods inventory account was debited for $360,000 and credited for $338,800. The ending balance in the Finished Goods inventory account was $36,600.

At the end of the year:

Manufacturing overhead was overapplied by $15,900.

If the applied manufacturing overhead was $169,300.

Because the manufacturing overhead was overapplied, we need to subtract from the applied overhead to determine the actual overhead.

Actual overhead= applied overhead - overapplied overhead

Actual overhead= 169300 - 15900= $153,400

5 0
3 years ago
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