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Stella [2.4K]
4 years ago
13

he following amounts were reported by Howe Company before adjusting its overapplied manufacturing overhead of $16,000. Raw Mater

ials Inventory $80,000 Finished Goods Inventory $120,000 Work in Process Inventory $200,000 Cost of Goods Sold $1,460,000. What is the amount Howe will report as cost of goods sold after it disposes of its overapplied overhead
Business
1 answer:
BaLLatris [955]4 years ago
4 0

Answer: $1,444,000‬

Explanation:

The Cost of Goods sold for a manufacturing company includes the Manufacturing overhead. If the overhead was overapplied, the COGS is inflated and needs a downward adjustment.

COGS after overapplied overhead is disposed of = COGS before disposal - overapplied amount

= 1,460,000 - 16,000

= $1,444,000‬

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If the demand for a steak is unit price elastic, then; Select one: a. the percentage change in quantity demanded is equal to the
Anvisha [2.4K]

Answer:

The correct answer is option a.

Explanation:

The price elasticity of demand shows the responsiveness of quantity demanded to change in price. It is measured by the ratio of proportionate change in quantity demanded and proportionate change in price.

Unit price elastic means that the price elasticity of the good is 1. This implies that the percentage change in quantity demanded must be equal to the percentage change in price.

6 0
3 years ago
A firm underwriting of a municipal bond issue usually has a number of different broker-dealers involved. Those who earn the tota
Ymorist [56]

Answer:

Selling syndicate members

Explanation:

Selling syndicate members is a term used in business or finance to describes part of a broker-dealers of a municipal bond issue. They are charged with the responsibilities of selling the bonds allotted to them.

From the sales of each bond, the total takedown, including the additional takedown is earned.

Hence, in this situation, the correct answer is Selling Syndicate Members

5 0
4 years ago
A lender is considering what terms to allow on a loan. Current market terms are 8 percent interest for 25 years for a fully amor
ioda

Answer:

1. The origination fee that the lender should charge if Rich will repay the loan after 25 years = $20,000 approximately.

2. The origination fee that the lender should charge if Rich will repay the loan after 10 years = $6,600 approximately.

Explanation:

a) Data and Calculations:

Amount requested by Rich = $100,000

Amount the bank is willing to lend Rich = $95,000

Interest rate = 9%

Period of loan = 25 years or 10 years

From an online finance calculator:

At 10% interest rate:

PMT = $-10,465.97

Sum of all periodic payments = $-261,649.17

Total Interest = $166,649.17

At 9% interest rate:

PMT = $-9,671.59

Sum of all periodic payments = $-241,789.84

Total Interest = $146,789.84

Expected Origination Fee:

Interest at 10% = $166,649.17

Interest at 9% =  $146,789.84

Required origination fee = $19,859.32 ($166,649.17 - $146,789.84)

This is equivalent to $20,000

Payment after 10 years:

At 10% interest rate:

PMT = $-15,460.81

Sum of all periodic payments = $-154,608.13

Total Interest = $59,608.13

At 9% interest rate:

PMT = $-14,802.91

Sum of all periodic payments = $-148,029.09

Total Interest = $53,029.09

Expected Origination Fee:

Interest at 10% = $59,608.13

Interest at 9% =  $53,029.09

Required origination fee = $6,579.04 or $6,600 ($59,608.13 - $53,029.09)

7 0
3 years ago
Assuming a FICA tax rate of 7.65% on the first $127,200 in wages, 1.45% on amounts in excess of $127,200, and a federal income t
Lelechka [254]

Answer:

$154524

Explanation:

If a federal tax rate is 20% on all wages then we subtract that amount from the total wage of $206000 for the year

20% from $206000 is $41200

$206000 - $41200 = $164800

We have deducted the federal tax rate and got the amount $164800

After we apply the FICA tax rate of 7.65% on the amount $127200 we get

7.65% of $127200 is $9730,8 so the first amount we have to remember is

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Regarding the amount that excess $127200 that amount stands at

$164800 - $127200 = $37600

We apply the 1.45% rate to the amount $37600

1.45% of the $37600 is $545,2 so the second amount we have to remember is

$37600 - $545,2 = $37054,8

We now simply add the two calculated amounts

$117469,2 + $37054,8 = $154524

So the net pay for the year is $154524

7 0
4 years ago
The summary of important trends in retailing are​
ankoles [38]

Answer:

1 Investment in omni channel retail strategies

2 provide a personalized retail experience

3 Attend to the growing culture of immediacy

4 Expand into emerging markets and create a new channel

7 0
4 years ago
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