Question 3 of 10

The following is the stockholders' equity section of Harbor Co.'s balance sheet on December 31:Common stock $10 par, 100,000 sha

AnnyKZ [126]

Answer:

Book value per share: 48.88

Explanation:

The book value per share is the minimun value of the company equity.

Book value per share = (Total Equity - Preferd Equity) / Total shares outstanding

Book value per share = 2,200,000 / 45,000

Book value per share = 48.88

In the numerator, we do not deduct anything from equity because there are no preferred shares. In the dividend, the outstanding shares are 45,000, because 50,000 have been issued and 5,000 are held in treasury, despite being authorized to issue 100,000 shares.

6 0

3 years ago

Products is a manufacturer of large flower pots for urban settings. The company has these standards: LOADING...(Click the icon

nadezda [96]

Answer and Explanation:

The computation is shown below:

1. The standard cost for each one is as follows

For Direct materials, it is

= 9.6 pounds × $4.55 Per pound

= $43.68

For Direct labour, it is

= 1 hour × $15.80 per hour

= $15.8

For Variable manufacturing overhead, it is

= 1 hour × $3.40 per hour

= $3.40

For Fixed Manufacturing overhead, it is

= 1 hour × $6 per hour

= $6

2. The standard cost of one flower pot is shown below:

= $43.68 + $15.80 + $3.40 + $6

= $68.88

7 0

3 years ago

The ________ is a federal statute passed in 1990 that requires food manufacturers and processors to provide nutrition informatio

balandron [24]

<span>Nutrition Labeling and Education Act
This act requires nutrition labeling on food and standardizes terms such as serving size, "low fat", "light", and the such. It prevents things such as claiming "low calorie" cause the "calories per serving" is only half of the competitors, while specifying an absurdly low serving size that's also half the size the competitors use.</span>

8 0

3 years ago

During January, its first month of operations, Knox Company accumulated the following manufacturing costs: raw materials $5, 310

mariarad [96]

Answer:

See the attached picture for detailed answer.

Explanation:

See the attached picture for explanation.

7 0

3 years ago

A steel company manufactures heavy-duty brackets for the shelving industry. The company has budgeted for the production and sale

alexandr402 [8]

Answer:

Contribution margin per unit = $11.90

Explanation:

Given:

Total unit sale = 1,000,000

Unit selling price of a bracket = $22.50

Direct material required = 4 pounds per unit

Direct labor required = 0.15 hours per unit

Cost of material per pound = $1.75

Direct labor cost per hour = $9.00

Total variable selling cost = $2,250,000

Find:

Contribution margin per unit = ?

Computation:

Direct material per unit = 4 pounds per unit × $1.75

Direct material per unit = $7

Direct labor per unit = 0.15 hours per unit × $9.00

Direct labor per unit = $1.35

Variable selling cost per unit = Total variable selling cost / Total unit sale

Variable selling cost per unit = $2,250,000 / 1,000,000

Variable selling cost per unit = $2.25

Contribution margin per unit = Sales per unit - Variable cost per unit

Contribution margin per unit = Sales per unit - [Direct material per unit + Direct labor per unit + Variable selling cost per unit]

Contribution margin per unit = $22.50 - [$7 - $1.35 - $2.25]

Contribution margin per unit = $22.50 - [$10.6]

Contribution margin per unit = $11.90

4 0

3 years ago