1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elanso [62]
3 years ago
7

Jed goes to the deli to purchase turkey that costs $6.71 per pound. State regulations indicate that the scale used in the deli m

ust be accurate to within 1 20 pound. According to the scale, Jed's purchase weighs one-fourth pound and costs $1.68. How much might he have been undercharged or overcharged due to a scale error
Business
1 answer:
Neporo4naja [7]3 years ago
5 0

Answer:

$0.333

Explanation:

Given :

Price per pound = $6.71

Accuracy should be within 1/20 pound

Weight of Purchase = 1/4 pound

Cost of purchase = $1.68

Since accuracy is within 1/20 pound ;

The weight of purchase will be within :

(1/4 - 1/20 ; 1/4 + 1/20)

(0.2 ; 0.3)

The weight of purchase would be within (0.2 ; 0.3) including factoring in the accuracy level.

Price per pound = $6.71

If weight is 0.2 pounds ; ($6.71 * 0.2) = 1.342

If weight is 0.3 pounds ; ($6.71 * 0.3) = 2.013

Difference :

$(2.013 - 1.68) = $0.333

Owing to scale error, Jed might have been under charged or overcharged an amount of $0.333

You might be interested in
Determine whether each of the following examples would be included in Gross Domestic Product (GDP). a. When Judy went to the gro
svetlana [45]

Answer:

Items included in GDP

Judy's purchase of potatoes

The purchase of the two fighter jets

Explanation:

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

Net export = exports – imports  

Items not included in the calculation off GDP includes:  

1. services not rendered to oneself

2. Activities not reported to the government  

3. illegal activities

4. sale or purchase of used products

5. sale or purchase of intermediate products

Judy's purchase would be included as part of consumption spending by households on non durable items.

The purchase of the tires would not be included in the calculation of GDP because the tires are intermediate goods. Only final goods are included in the purchase of GDP

The purchase of the two fighter jets would be included in GDP as part of government spending

the $100 gift would not be included in the calculation of GDP  

3 0
4 years ago
Melrose Company has an investment in bonds issued by Roscoe Industries that are classified as available-for-sale securities. The
Andrews [41]

Answer:

c. Debit to Fair value adjustment for $30,000

Explanation:

The first step of accounting process is Journal entry and it is made to record the transactions for process of book keeping, it defines the accounts involved and effects of  transactions on the account by debit or credit.

As the bond price is amortized earlier by 5,000 then its net realizable value was $195,000 ( $200,000 - $5,000 ). on December 31, year 3 the fair value adjusted to $225,000. so the adjusted value will be $30,000 ( $225,000 - $195,000 ). The journal entry is as follow  

                                                                    Dr.               Cr.

Dec 31, year 3

Fair value adjustment account              30000

Unrealized gain on available for sale securities        30000

4 0
3 years ago
The Mill Flow Company has two divisions. The Cutting Division prepares timber at its sawmills. The Assembly Division prepares th
Sladkaya [172]

Answer:

A. Cutting Assembly

Operating income $ 0 $1,480,000

B. Cutting Assembly

Operating income ($120,000) $1,600,000

C. Yes, the manager does care what price is selected becausethe manager what to know whether it is either cost center or profit center

Cutting Division should be a COST CENTER

Explanation:

a. Calculation to Determine the operating income for each division if the transfer price from Cutting to Assembly is at cost - $11 a cord.

CUTTING ASSEMBLY

Revenue $660,000 $2,500,000

Cost of services:

Incurred $ 660,000 $ 360,000

(60,000*$11=$660,000)

(60,000*$6=$360,000)

Transferred-in $0 $660,000

Total Cost $ 660,000 $1,020,000

($660,000+$0=$660,000)

($360,000+$660,000=$1,020,000)

Operating income $ 0 $1,480,000

($660,000-$660,000=$0)

($2,500,000-$1,020,000=$1,480,000)

Therefore the operating income for each division if the transfer price from Cutting to Assembly is at cost - $11 a cord will be :

Cutting Assembly

Operating income $ 0 $1,480,000

b. Calculation to determine the operating income for each division if the transfer price is $9 per cord.

CUTTING ASSEMBLY

Revenue $540,000 $2,500,000

(60,000*$9=$540,000)

Cost of services:

Incurred $660,000 $360,000

(60,000*$11=$660,000)

(60,000*$6=$360,000)

Transferred-in $0 $540,000

(60,000*$9=$540,000)

Total Cost

$660,000 $900,000

($660,000+$0=$660,000)

($360,000+$540,000=$900,000)

Operating income ($120,000) $1,600,000

($540,000-$660,000=$120,000)

($2,500,000-$900,000=$1,600,000)

Therefore the operating income for each division if the transfer price is $9 per cord will be :

Cutting Assembly

Operating income ($120,000) $1,600,000

c. Yes, Based on the above calculation for both (a) and (b) in a situation where the Cutting Division sold all of its wood internally to the Assembly Division, the manager does care about what price is selected reason been that the manager what to know whether it is either cost center or profit center when carrying out performance evaluation.

Based on the above calculation Under the circumstances the Cutting Division should be a COST CENTER.

6 0
3 years ago
Graff, Incorporated, has sales of $49,800, costs of $23,700, depreciation expense of $2,300, and interest expense of $1,800.
olga2289 [7]

The operating cash flow of Graff, Incorporated is $19,460

What is operating cash flow?

The operating cash flow is the amount of cash derived from the normal operations of the business, it is determined as the net income plus the depreciation expense of the company, bearing in mind that the depreciation expense needs to be added because it is not an outright cash outflow

The net income is the sales minus costs of goods sold, depreciation expense, interest expense as well as tax expense whose rate is 22%.

In essence, our net income can be determined using the below formula:

net income=(sales-costs-depreciation expense-interest expense)*(1-tax rate)

sales=$49,800

costs=$23,700

depreciation expense=$2,300

interest expense=$1,800

tax rate =22%

net income=($49,800-$23,700-$2,300-$1,800)*(1-22%)

net income=$17,160

operating cash flow=net income+ depreciation expense

operating cash flow=$17,160+$2,300

operating cash flow=$19,460

Find out more about on:brainly.com/question/25530656

#SPJ1

Missing part of the question:

If the tax rate is 22 percent, what is the operating cash flow, or OCF?

7 0
2 years ago
Location choice I has monthly fixed costs of $100,000 and per-unit variable costs of $10. Location choice J has monthly fixed co
Vinvika [58]

Answer:

The indifference point is 50,000 units.

Explanation:

Giving the following information:

Location choice I has monthly fixed costs of $100,000 and per-unit variable costs of $10. Location choice J has monthly fixed costs of $150,000 and per-unit variable costs of $9.

First, we need to determine the total cost formula for each location:

Location I:

Total cost= 100,000 + 10x

Location J:

Total cost= 150,000 + 9x

Now, to calculate the indifference point, we need to isolate X:

100,000 + 10x= 150,000 + 9x

x= 50,000 units

The indifference point is 50,000 units.

7 0
3 years ago
Other questions:
  • Gator Corporation manufactures several types of accessories. For the year, the gloves and mittens line had sales of $492,000, va
    9·1 answer
  • Presented below are two independent situations.1. On January 1, 2014, Simon Company issued $200,000 of 9%, 10-year bonds at par.
    8·1 answer
  • To facilitate integrative bargaining and avoid distributive negotiation, managers should:__________
    10·1 answer
  • The organization wants you to avoid situations that make you choose between its overall benefit and your ________.
    8·1 answer
  • Suppose a professional basketball game is to be played at a suburban arena, which increases demand for parking on the night of t
    11·1 answer
  • Consumer protection laws are meant to:
    12·1 answer
  • Jan makes an hourly salary of $9.00 for 40 regular hours of work. For each hour worked over 40 hours, she is paid at a rate of $
    7·1 answer
  • Peterson Manufacturing recently reported EBITDA of $18.75 million and $4.5 million of net income. It has $5 million of interest
    6·1 answer
  • What is the main advantage of mobile point-of-sale devices?
    5·1 answer
  • A leadership strategy aims at growing in a declining industry by picking up the market share of companies that are leaving the i
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!