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2 years ago

Compute the Work-In-Process transferred to the finished goods warehouse on April 30 using the following information:

Business

1 answer:

Marina CMI [18]2 years ago

8 0

Answer:

$910

Explanation:

Computation for the Work-in-Process transferred to the finished goods warehouse on April 30

Using this formula

Work-in-Process transferred to finished goods warehouse=Work-In-Process Inventory, April 1+(Direct materials used in production+Direct labor costs incurred +Manufacturing overhead costs)-Work-In-Process Inventory, April 30

Let plug in the formula

Work-in-Process transferred to finished goods warehouse=$270 + ($195 + $370 + $320) - $245

Work-in-Process transferred to finished goods warehouse=$270 +$885-$245

Work-in-Process transferred to finished goods warehouse= $910

Therefore the Work-in-Process transferred to the finished goods warehouse on April 30 is $910

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You are planning your retirement in 10 years. You currently have $169,000 in a bond account and $609,000 in a stock account. You

Over [174]

Answer:

$187,584.20

Explanation:

Firstly, we need to calculate the total future value (FV) of the bond account and stock account after 10 year from now (when you come to retirement age):

FV_bond at retirement = 169,000 x (1 + 7.25%)^10 + 7,100 x (1 + 7.25%)^9 + 7,100 x (1 + 7.25%)^8 + … 7,100 x (1 + 7.25%)^0 = 426,230.93

FV_stock at retirement = 609,000 x (1 + 10.75%)^10 = 1,690,653.63

Total FV of your investment portfolio = 2,116,884.57

Because you plan to use up all the funds in your account after 21 equal amount withdrawals after retirement, total present value (at the time you retire not now) of these withdrawals (discounted at 6.5%) have to be equal to the value of your invesment 10 years from now, or:

2,116,884.57 = C/(1+6.5%) + C/(1+6.5%)^2 + … + C/(1+6.5%)^21, with C is the amount you plan to withdraw each year.

Solve the equation we get C = 187,584.20

Note: The equation can be solved easily using Excel or BAII Plus. 

5 0

3 years ago

Suppose that the bankruptcy law firm had previously loaned $20,000 to Henry Anderson. The law firm filed a financing statement s

pantera1 [17]

Answer: This loan would would have priority over the other unsecured claims in this bankruptcy case.

Explanation:

Since the trucks are secured collateral the loan is a secure loan. It will be the priority in the bankruptcy case since the other claims were unsecured. The law firm would have a right to the trucks since he owed them 20,000$ and put them up as collateral.

Everything that was an unsecured loan does not have anything to take from and will be a loss for the other companies who filed against Henry Anderson.

8 0

3 years ago

Vital Silence Corp. has just issued a 30-year callable, convertible bond with a coupon rate of 6.4 percent and annual coupon pay

Aleks04 [339]

Answer:

a. $880.74

b. 13 years

Explanation:

a. Conversion ratio = Current Value of bond / Conversion price = 1,000 / 93.4 = 10.71

Conversion price of bond = 10.71 × 28.60 = $306.31

Coupon = Par value of bond * Coupon rate = $1,000 * 6.4% = $64

Present value of straight debt is calculated below:

Present Value = $64 × [1-(1+7.4%)^-30 / 7.4%] + [$1,000 / (1+7.4%)^30]

= $64*11.93 + $117.46

= $763.28 + $117.46

= $880.74 .

Therefore, the minimum value of bond is $880.74

b. Conversion ratio = 10.71

Current stock price = $28.6

Suppose number of year the stock will take to reach above $1,140 is t.

Conversion value = Current stock price * Conversion ratio*(1+10.8%)^t

$1,140 = $28.6 * 10.71 * (1.108)^t

(1.108)^t = 3.7218

t = 12.8145 year.

t = 13 years

8 0

3 years ago

A company understated its ending inventory balance by $5,000 in 2018. What impact will this error have on cost of goods sold and

madreJ [45]

Answer:

COGS overstated for 5,000

Explanation:

The COGS will be overstated for the same ammount, that is because of the inventory identity.

$$$Beginning Inventory + Purchase = Ending Inventory + COGS$

If ending Inventory has a problem, it will be transferred to COGS as well to equalize the formula

If ending Inventory is understated it means their alue is less than it's real value,

$$$Beginning Inventory + Purchase \neq Ending Inventory (Real Inventory - Understimation) + COGS$

so to balance the formula COGS need to be overstated.

$$$Beginning Inventory + Purchase = Ending Inventory (Real Inventory - Understimation) + COGS(Real COGS + EI error)$

3 0

3 years ago

Hurdzan, Inc., has a 30-day average collection period and wants to maintain a minimum cash balance of $20 million, which is what

tia_tia [17]

Answer:

Attached below

Explanation:

Receivables balance = $196 million

Minimum cash balance = $20 million

Given data :

Q1 Q2 Q3 Q4

Sales $441 $513 $594 $558

Total cash disbursement 368 465 720 456

attached below is the cash budget for the company as required

7 0

3 years ago