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3 years ago

Kennedy Company reports the following costs and expenses in May.

Business

1 answer:

mamaluj [8]3 years ago

4 0

Answer:

a. $161,350

b. $398,050

c. $81,140

Explanation:

Total amount of manufacturing overhead

Factory utilities $16,500

Depreciation on factory equipment $12,650

Indirect factory labor $48,900

Indirect materials $70,800

Factory manager's salary $8,000

Property taxes on factory building $2,500

Factory repairs $2,000

Total $161,350

Note : Manufacturing Overheads are Indirect Manufacturing Costs that can not be easily traced to the Product being manufactured.

The total amount of product costs

Direct materials used $157,600

Direct labor $79,100

Manufacturing Overhead $161,350

Total $398,050

Note : Product Costs are Direct Manufacturing Costs that can be easily traced to the Product being manufactured.

The total amount of period costs

Depreciation on delivery trucks $3,800

Sales salaries $48,400

Repairs to office equipment $1,300

Advertising $23,000

Office supplies used $4,640

Total $81,140

Note : All Non Manufacturing Costs are Period Cost. Period Costs are expensed in the Income Statement.

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When an employee misappropriates case by diverting a payment from one customer for their own use, and then hides the defalcation

Sati [7]

Answer:

Lapping scheme

Explanation:

Lapping scheme -

It is a fraud practice , which involves the alteration of the accounts received to hide or cover the stolen payments .

This method involve taking the subsequent receivable payments and using them to cover the theft .

And the next receivable is only applied when the previous is unpaid receivable .

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3 years ago

Rahls issues stock to investors for $20,000, and has $5,000 of net income in its first year of operations. During Year 2, Rahls

Eva8 [605]

Answer:

The balance in stockholders' equity at the end of year 2 is $31,000

Explanation:

For computing the balance in stockholder equity at the end of year 2, first, we have to compute the balance for year 1 which is shown below:

Year 1 equity balance = Issue of stock + Net income

= $20,000 + $5,000

= $25,000

Now, year 2 balance would equal to

= Year 1 balance + Net income - Dividend paid

= $25,000 + $10,000 - $4,000

= $31,000

Hence, the balance in stockholders' equity at the end of year 2 is $31,000

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4 years ago

The CEO introduced another overseas effort by noting that it represented an attempt to confront an international competitor. The

ahrayia [7]

The CEO was most likely referring to the following efforts : d) a distribution center established in London to preempt the growth of a British car manufacturer.

Explanation:

The company establishing its trade and investment activities across the national borders is known as international business.

The following are some of the factors of production:

i) Manufacturing infrastructure

ii) Technology

iii) Managerial talent

It is important for a company to take more effort and establish its distribution center overseas to confront the international competitors. In the above scenario, the CEO decided to establish his distribution center in London to block the growth of a British car manufacturer.

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3 years ago

Which of the following statements is FALSE?A) Without trading, the portfolio weights will decrease for the stocks in the portfol

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Answer: The correct answer is "A) Without trading, the portfolio weights will decrease for the stocks in the portfolio whose returns are above the overall portfolio return.".

Explanation: The statement "A) Without trading, the portfolio weights will decrease for the stocks in the portfolio whose returns are above the overall portfolio return." is FALSE, because it is the opposite, that is Without trading, the portfolio weights will increase for the stocks in the portfolio whose returns are above the overall portfolio return.

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3 years ago

How does a company measure profit growth?

tankabanditka [31]

Answer:

a. by finding the percentage increase in net profits over time

Explanation:

The primary reason why companies engage in business is to make profit. When profits are made, that means there will be opportunity for expansion. A company that does not make profit will not expand hence the possibility of its survival will not exist.

Companies make profit to finance business operation, purchase critical assets etc. Companies measure their profit growth to know how well their profit increase overtime and it is measured by finding the percentage increase in net profits overtime.

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3 years ago