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QveST [7]
3 years ago
8

For the year ended December 31, 2021, Norstar Industries reported net income of $965,000. At January 1, 2021, the company had 1,

070,000 common shares outstanding. The following changes in the number of shares occurred during 2021: Apr. 30 Sold 85,000 shares in a public offering.May 24 Declared and distributed a 5% stock dividend.June 1 Issued 96,000 shares as part of the consideration for the purchase of assets from a subsidiary.Required:Compute Norstar's earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Round "EPS" answer to 2 decimal places. Do not round intermediate calculations.) Numerator = ? Denominator = ?Earnings per share = ?
Business
1 answer:
MArishka [77]3 years ago
5 0

Answer:

0.78

Explanation:

The computation of the earning per share is given below;

= $965,000 ÷ 1,239,000

= 0.78

The 1,239,000 comes from

= 1,070,000 × 12 ÷ 12 + 85000 × 8 ÷ 12 + 96,000 × 7 ÷ 12 + (1,070,000 + 56,667) × 5%

= 1,070,000 + 56,667 + 56,000 + 56,333

= 1,239,000

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Dejarnette Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hour
seropon [69]

Answer:

Predetermined manufacturing overhead rate= $8.3 per machine hour

Explanation:

Giving the following information:

Total machine-hours 80,000

Total fixed manufacturing overhead cost $416,000

Variable manufacturing overhead per machine-hour $ 3.10

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (416,000/80,000) + 3.1

Predetermined manufacturing overhead rate= $8.3 per machine hour

8 0
3 years ago
Lupine Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. T
Anna [14]

Answer:

Allocated MOH= $420

Explanation:

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (253,600/31,700) + 6

Predetermined manufacturing overhead rate= $14 per machine hour

<u>Now, we can allocate overhead to Job L716:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 14*30

Allocated MOH= $420

5 0
3 years ago
if the market risk premium is 7%, the risk-free rate is 2% and the beta of a stock is 2.0, what is the expected return of the st
Len [333]

Expected return of the stock is greater than 12%.

Using formula, Risk free rate + beta (market risk rate - risk free rate)\

= 2% + 2.0 (7%-2%)

= 13.6 - 0.4* risk premium

Risk premium of a stock is greater than 12%.

A stock's total return takes into account both capital gains and losses as well as dividend income, as opposed to a stock's nominal return, which only displays its price movement. In addition to considering the actual rate of return, investors should consider their ability to withstand the risk involved with a given investment. An investment's return on investment (ROI) provides a general indication of its profitability. The return on investment (ROI) is calculated by subtracting the investment's initial cost from its final value, dividing the result by the cost of the investment, and finally multiplying the result by 100.

Note that the full question is:

If the market risk premium is 7%, the risk-free rate is 2% and the beta of a stock is 2.0, what is the expected return of the stock?

A. less than 12%.

B. 12%.

C. greater than 12%.

D. cannot be determined.

To learn more about returns: brainly.com/question/24301559

#SPJ4

3 0
1 year ago
A company's skills are functions—such as customer service and promotions—that the firm performs better than its competitors
Tasya [4]

Answer:

Here the given statement is true.

Explanation:

The given above statement is true , customer service and promotions are recognized as a company's skill set , which if a company would perform better than its competitors than it would be able to attract more customer base and even retain its target audience. Customer service skills are really important for every company as these skills helps in increasing its target consumers and retain them by addressing the customers redressal, fulfilling their needs and wants and improving their experience.

8 0
3 years ago
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An exploration of the factors underlying an​ economy's capital stock and its level of technology indicates that the relevant tim
scoray [572]

Answer:

The correct answer are: A. quality of its education system. B. saving rate. and E. role of the government.

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The stock of capital is a fundamental variable in economic analysis, especially for economic growth studies. The level of capital stock, together with measurements of labor (labor), constitute the factors that allow analyzing the production function of an economy; as well as determine the long-term growth patterns of it.

5 0
3 years ago
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