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Ahat [919]
2 years ago
11

PM Industries has two service departments (Administration and Maintenance) and two operating departments. Departmental costs bef

ore allocations are $950,000 for Administration and $1,650,000 for Maintenance. Maintenance costs are allocated on the basis of the number of LPM employees. Administration has 450 employees; Maintenance has 750 employees; Operating Department 1 has 1,350 employees and Operating Department 2 has 1,200 employees. Using the step-down method, how much of the cost from the Maintenance Department will be allocated to Administration
Business
1 answer:
Nutka1998 [239]2 years ago
6 0

Answer:

The answer is " 873,529.412"

Explanation:

Following are the equation which the administration would be responsible for the costs of the maintenance departments:

\to 1,650,000 \times  \frac{1,350}{(1,350+1,200)}\\\\\to 1,650,000 \times  \frac{1,350}{2,550}\\\\\to 1,650,000 \times  \frac{135}{255}\\\\\to 1,650,000 \times  \frac{27}{51}\\\\\to 1,650,000 \times  \frac{9}{17}\\\\\to \frac{14,850,000}{17}\\\\\to 873,529.412

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7 0
3 years ago
Parr Hardware Store had net credit sales of $6.5mil and cost of goods sold of $5mil for the year. The Accounts Receivable balanc
kifflom [539]

Answer:

Accounts Receivables Turnover Ratio = \frac{6,500,000}{650,000} = 10 times.

Explanation:

Accounts Receivables Turnover ratio = \frac{Net \:Credit \: Sales}{Average \: Receivables}

Here Net Credit Sales = $6.5 million

Accounts Receivables Opening Balance = $600,000

Accounts Receivables Closing Balance = $700,000

Average Accounts Receivable Balance = \frac{600,000 \:+ 700,000}{2} = 650,000

Accounts Receivables Turnover Ratio = \frac{6,500,000}{650,000} = 10 times.

This shows that accounts receivables are on an average 1/10th of credit sales.

Final Answer

Accounts Receivables Turnover Ratio = \frac{6,500,000}{650,000} = 10 times.

3 0
3 years ago
Cute Camel Woodcraft Company is considering a one-year project that requires an initial investment of $500,000; however, in rais
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Answer:

The correct answer is "32.076%".

Explanation:

Given:

Initial investment,

= $500,000

Cash inflows,

= $500,000

The floatation cost will be:

= 500,000\times 6 \ percent

= 30,000 ($)

The total cost will be:

= Initial \ investment+Floatation \ cost

= 500000+30000

= 530000

hence,

The rate of return will be:

= \frac{Inflows}{Cost} -1

= \frac{700000}{530000} -1

= \frac{700000-530000}{530000}

= 0.32076

= 32.076 (%)

8 0
2 years ago
With reference to the new products process, a firm adopts the ready—fire—aim approach when it:1. lacks senior management support
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Answer:

4. does not do the required homework before beginning development.

Explanation:

Ready Fire Aim approach is undertaken when the company is not prepared and has placed the product in the market with the aim that improvements will come later.

This approach is used to collect the responses of the customers and study the patterns of behavior. As we get the responses we improve the product accordingly.

This approach is used in product development processes.

4 0
3 years ago
At Richardson Manufacturing Company, there are two factors that determine the cost of health care. If an employee makes less tha
OLEGan [10]

Answer:

15%

Explanation:

Catherine is a departmental manager at Richardson

She earns $68,300 every month

She has family health care

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The first step is to calculate the total contribution

Catherine rate for health care is $165 since her monthly pay is higher than $55,000

Total contribution = $165 + $935

= $1,100

Therefore the percent in which Catherine contributes towards total coverage can be calculated as follows

= 165/1,100 × 100

= 0.15 × 100

= 15%

Hence Catherine contributes 15% towards the total coverage

8 0
3 years ago
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