Answer:
Lump-sum salary increase.
Explanation:
A lump-sum salary increase is an amount paid instead of increase in salary. It is not added to the fixed base salary, it is instead given in the form of a single cash payment, as it is the case with Cindy here. This is why it is also known as lump sum bonus, because it is given as a single payment, as it was in Cindy’s case, all given at the beginning of the year.
Answer:
The answer is: Cash and marketable securities $5,406,393
Explanation:
We have:
+ Current ratio = Current asset / Current liabilities = 2; with Current liabilities is given at $8 million => Current asset is $16 million;
+ Current asset = Inventory + Account Receivable + Cash and marketable securities <=> Cash and marketable securities = $16 million - Inventory - Account Receivable ( as current asset is calculated above at $16 million)
+ Average collection period = Account Receivable/ Credit Sales x 365 <=> Account Receivable = Average collection period/365 x Credit sales = 30/365 x 64 million = $5,260,274
+ Inventory turnover = Sales / Inventory <=> Inventory = Sales/ Inventory turnover = 64 million / 12 = $5,333,333
=> Cash and marketable securities = 16,000,000 - 5,333,333 - 5,260,274 = $5,406,393.
Answer:
Job 93 Job 94 Job 95 Job 96
1. Labor Hours 120 300 145 50
2. Overhead applied rate $906 $2,400 $1,160 $400
Explanation:
Labor rate per hour = $18
Labor hours = Total Labor cost / rate per hour
Job 93 = $2,160 / $18 = 120 hours
Job 94 = $5,400 / $18 = 300 hours
Job 95 = $2,610 / $18 = 145 hours
Job 96 = $900 / $18 = 50 hours
Overhead applied rate = Labor Hours x overhead applied rate
Job 93 = 120 x $8 = $960
Job 94 = 300 x $8 = $2,400
Job 95 = 145 x $8 = $1,160
Job 96 = 50 x $8 = $400
