What is the difference between an elementary educator and a high school educator?

Sea Company reports the following information regarding its production costs: Units produced 54,000 units Direct labor $ 47 per

Elodia [21]

Answer:

Total unitary cost= $118.5

Explanation:

Giving the following information:

Units produced 54,000 units

Direct labor $47 per unit

Direct materials $40 per unit

Variable overhead $29 per unit

Fixed overhead $ 135,000

Under absorption costing, the unitary production cost is calculated using the direct material, direct labor, and total unitary overhead (including fixed overhead).

Unitary cost= direct material + direct labor + unitary variable overhead + unitary fixed overhead

Unitary fixed overhead= 135,000/54,000= $2.5 per unit

Total unitary cost= 47 + 40 + 29 + 2.5= $118.5

4 0

3 years ago

Crystal Apple Sales Company began 2014 with cash of $2,000, inventory of $3,600 (200 crystal apples that cost $18 each), $2,500

Andru [333]

Answer and Explanation:

a. The computation of ending inventory and cost of goods sold using the three different cost flow assumptions: FIFO, LIFO, and Weighted Average is shown below:-

Cost of goods sold = (200 × $18) + (800 × $20) + (1,040 × (2,040-200-800)

= (200 × $18) + (800 × $20) + (1,040 × $24)

= $3,600 + $16,000 + $24,960

= $44,560

Ending Inventory Under FIFO = (1,200 - 1,040) × (2,040-200-800)

= 160 × $24

= $3,840

Under LIFO method

Cost of goods sold is

= (1,200 × $24) + (800 × $20) + (40 × $18)

= $28,800 + $16,000 + $720

= $45,520

Ending Inventory Under LIFO is

= (200 - 40) × $18

= 160 × $18

= $2,880

Weighted Average cost flow Assumption

Weighted Average cost per apple = Cost of Beginning inventory and purchase ÷ Total apple available

Cost of Beginning inventory and purchases is

= (200 × $18) + (800 × $20) + (1,200 × $24)

= $3,600 + $16,000 + $28,800

= $48,400

Total apples available is

= 200 + 800 + 1,200

= 2,200

Weighted Average cost per apple is

= $48,400 ÷ 2,200

= $22

Cost of goods sold is

= 2,040 × $22

= $44,880

Ending Inventory is

= 160 × $22

= $3,520

b. The Preparation of income statement, a balance sheet, and a statement of cash flows under each of the three cost flow assumptions is prepared below:-

Income Statement Amount

Sales (2,040 × $40) $81,600

Less: Cost of goods sold ($44,560)

Gross Profit $37,040

Less: Operating Expenses ($26,000)

Income before income taxes $11,040

Less: Income tax (30% × $11,280) ($3,312)

Net Income $7,728

Balance Sheet

Assets

Cash $9,488

Inventory $3,840

Total Assets $13,328

Liabilities and Stockholder's Equity

Common Stock $2,500

Retained Earnings $10,828

Total Liabilities and Equity $13,328

Working note

cash = (opening + Sales - Purchases - Operating expenses - Income tax expenses )

= $2,000 + $81,600 - $44,800 - $26,000 - $3,312

= $9,488

Retained earning = (Opening + Net Income)

= $3,100 + $7,728

= $10,828

Statement of Cash Flow

Cash Flow from Operating Activities

Cash Sales $81,600

Payment to Accounts Payable ($44,800)

Operating Expenses ($26,000)

Income tax paid ($3,312)

Net Increase in cash and

cash equivalents $7,488

Add: Opening Cash and

cash equivalents $2,000

Closing Cash and cash equivalents $9,488

LIFO cost flow Assumption

Income Statement

Sales (2,040 × $40) $81,600

Less: Cost of goods sold ($45,520)

Gross Profit $36,080

Less: Operating Expenses ($26,000)

Income before income taxes $10,080

Less: Income tax (30% × $10,080) ($3,024)

Net Income $7,056

Balance Sheet

Assets

Cash $9,776

Inventory $2,880

Total Assets $12,656

Liabilities and Stockholder's Equity

Common Stock $2,500

Retained Earnings $10,156

Total Liabilities and Equity $12,656

Working note:-

Cash = (opening + Sales - Purchases payment - Operating expenses -Income tax expenses)

= $2,000 + $81,600 - $44,800 - $26,000 - $3,024

= $9,776

Retained earning = (Opening + Net Income)

= $3,100 + $7,056

= $10,156

Statement of Cash Flows

Cash Flow from Operating Activities

Cash Sales $81,600

Payment to Accounts Payable ($44,800)

Operating Expenses ($26,000)

Income tax paid ($3,024)

Net Increase in cash and

cash equivalents $7,776

Add: Opening Cash and

cash equivalents $2,000

Closing Cash and cash equivalents $9,776

Weighted Average cost flow Assumption

Income Statement

Sales (2,040 × $40) $81,600

Less: Cost of goods sold ($44,880)

Gross Profit $36,720

Less: Operating Expenses ($26,000)

Income before income taxes $10,720

Less: Income tax (30% × $10,720) ($3,216)

Net Income $7,504

Balance Sheet

Assets

Cash $9,584

Inventory $3,520

Total Assets $13,104

Liabilities and Stockholder's Equity

Common Stock $2,500

Retained Earnings $10,604

Total Liabilities and Equity $13,104

Working note

Cash = opening + Sales - Purchases payment - Operating expenses - Income tax expenses )

= $2,000 + $81,600 - $44,800 - $26,000 - $3,126

= $9,584

Retained earning = (Opening + Net Income)

= $3,100 + $7,504

= $10,604

Statement of Cash Flows

Cash Flow from Operating Activities

Cash Sales $81,600

Payment to Accounts Payable ($44,800)

Operating Expenses ($26,000)

Income tax paid ($3,216)

Net Increase in cash and

cash equivalents $7,584

Add: Opening Cash and

cash equivalents $2,000

Closing Cash and

cash equivalents $9,584

8 0

2 years ago

Emerson Inc. would like to undertake a policy of paying out 45% of its income. Its latest net income was $1,250,000, and it had

worty [1.4K]

Answer:

Emerson Inc. should declare $2.5 per share.

Explanation:

Dividend Payout ratio is the ratio of distribution of net income earned during the period among the stockholders.

As per given data

Net Income = $1,250,000

Payout ratio = 45%

Dividend payment = 1,250,000 x 45% = $562,500

Dividend per share = $562,500 / 225,000 = $2.5 per share

6 0

3 years ago

What is the opportunity cost of an investment?

mart [117]

Getting something but giving up something

8 0

2 years ago

For each of the following situations involving annuities, solve for the unknown. Assume that interest is compounded annually and

Elan Coil [88]

Answer:

1)$11,978

2)9%

3)15 periods

4) 6%

5) $ 78,867.70

Explanation:

PV Annuity per period rate time

1. ? 3,000 8% 5

2. 242,980 75,000 ? 4

3. 161,214 20,000 9% ?

4. 500,000 80,518 ? 8

5. 250,000 ? 10% 4

1)

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 3,000.00

time 5

rate 0.08

$3000 \times \frac{1-(1+0.08)^{-5} }{0.08} = PV\\$

PV $11,978.1301

2)

solved using excel goal seek or financial calculator

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 75,000.00

time 4

rate 0.089998108 we set up the formula PV(A2;4,75000)

then we use goal seek to find which value of a2(which is the argument for rate) makes the formula equal to 242980

$75000 \times \frac{1-(1+0.0899981076987946)^{-4} }{0.0899981076987946} = PV\\$

PV $242,980.0000

3)

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C $20,000.00

time n

rate 0.09

PV $161,214.0000

$20000 \times \frac{1-(1+0.09)^{-n} }{0.09} = 161214\\$

$(1+0.09)^{-n}= 1-\frac{161214\times0.09}{20000}$

$(1+0.09)^{-n}= 0.27453700$

$-n= \frac{log0.274537}{log(1+0.09)$

-15.00004401

4)

same as (2) solved using excel

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 80,518.00

time 8

rate 0.06000009

$80518 \times \frac{1-(1+0.0600000899864588)^{-8} }{0.0600000899864588} = PV\\$

PV $500,000.0000

5)

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV 250,000

time 4

rate 0.1

$250000 \div \frac{1-(1+0.1)^{-4} }{0.1} = C\\$

C $ 78,867.701

4 0

3 years ago