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3 years ago

Annalise received financial aid offers from two universities.

Business

1 answer:

kogti [31]3 years ago

7 0

Answer:

Option A will save her $4,500

Explanation:

Calculation to determine Which statement about the costs per year is true

First step is to calculate OPTION A cost per year

Option A Costs per Year

Work-Study $4,000

Tuition & Fees $10,000

Scholarship & Grants $7,000

Room & Board $11,500

Total $18,500

Second step is to calculate OPTION B cost per year

Option B Costs per Year

Work-study $4,000

Tuition & Fees $28,000

Scholarship & Grants $18,000

Room & Board $9,000

Total $23,000

Now let determine Which statement about the costs per year is true

Costs per year= $23,000-$18,500

Cost per year=$4,500

Therefore the statement about the costs per year that is true will be: Option A will save her $4,500 because the cost per year for OPTION A is LESS COSTLY than that of option B by $4,500.

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3 years ago

Next Generation's predetermined overhead rate is $16 per direct labor-hour and its direct labor wage rate is $11 per hour. Job #

Pavel [41]

Answer:

Unitary cost= $147.02

Explanation:

Giving the following information:

Next Generation's predetermined overhead rate is $16 per direct labor-hour and its direct labor wage rate is $11 per hour. Job1987 used $1,202 of direct materials and $5,500 of direct labor.

First, we need to calculate the allocated overhead to Job 1987:

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Now, we can calculate the total cost and unitary cost of Job 1987:

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3 years ago

During the first month of operations ended July 31, Western Creations Company produced 80,000 designer cowboy hats, of which 72,

bulgar [2K]

Answer:

Western Creations Company

1. Income Statements for July and August, under absorption costing:

July August

Sales Revenue $4,320,000.00 $4,320,000.00

Cost of goods sold 3,240,000.00 2,649,600.00

Gross profit $1,080,000.00 $1,670,400.00

Total selling & admin. exp. $169,000.00 $169,000.00

Net Income $911,000.00 $1,501,400.00

2. Income Statements for July and August, using variable costing:

July August

Sales Revenue $4,320,000.00 $4,320,000.00

Variable cost of goods sold 3,081,600.00 2,491,200.00

Contribution margin $1,238,400.00 $1,828,800.00

Fixed expenses:

Total fixed costs 345,000.00 345,000.00

Net income $893,400.00 $1,483,800.00

3a. The reason for the differences in the amount of the income from operations in in (1) and (2) for July is the cost of goods sold based on full manufacturing costs for (1) while only variable costs are considered for (2).

3b. The reason for the differences in the amount of the income from operations in (1) and (2) for August is also the cost of goods sold based on full manufacturing costs for (1) while only variable costs are considered for (2).

Explanation:

a) Data and Calculations:

Number of hats produced = 80,000

Number of hats sold = 72,000

Ending inventory = 8,000

1 Sales $4,320,000.00

2 Manufacturing costs: July August

3 Direct materials $1,600,000.00 $1,280,000.00

4 Direct labor 1,440,000.00 1,152,000.00

5 Variable manufacturing cost 240,000.00 192,000.00

6 Fixed manufacturing cost 320,000.00 320,000.00

Total manufacturing costs $3,600,000.00 $2,944,000.00

Under absorption costing:

Unit cost = $45 ($3,600,000/80,000) $36.80 ($2,944,000/80,000)

Cost of goods sold = $3,240,000 ($45*72,000) $2,649,600 (36.8*72,000)

Ending Inventory = 360,000 ($45*8,000) 294,400 ($36.8*8,000)

7 Selling and administrative expenses:

8 Variable $144,000.00 $144,000.00

9 Fixed 25,000.00 25,000.00

Total selling & admin. exp. $169,000.00 $169,000.00

Under variable costing:

2 Manufacturing costs:

3 Direct materials $1,600,000.00 $1,280,000.00

4 Direct labor 1,440,000.00 1,152,000.00

5 Variable manufacturing cost 240,000.00 192,000.00

8 Variable selling & admin cost 144,000.00 144,000.00

Total variable costs = $3,424,000.00 $2,768,000.00

Unit variable cost = $42.80 ($3,424,000/80,000) $34.60

Cost of goods sold = $3,081,600 ($42.80 * 72,000) $2,491,200

Ending Inventory = 342,400 ($42.80 * 8,000) 276,800

6 Fixed manufacturing cost $320,000.00 $320,000.00

9 Fixed selling & admin. cost 25,000.00 25,000.00

Total fixed costs = $345,000.00 $345,000.00

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3 years ago

Why are people engaged in business?? Write in points

Sladkaya [172]

Answer:

they are able to set their own hours and policies.

Establish prices.

Mall Critical decisions on how to operate the company.

Some people don't want to work for a boss. Others have an innovative mind or brilliant idea

People also engage in business to make a difference in the world.

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3 years ago