Discovered

Suppose the market price increase. Which statement is correct?

vladimir2022 [97]

Answer:

C

Explanation:

If the market price of a good increases, quantity demanded decreases and quantity supplied increases. This is in line with the law of demand and supply respectively.

according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

3 0

3 years ago

Direct Method, Reciprocal Method, Overhead Rates Macalister Corporation is developing departmental overhead rates based on direc

jeka94

Answer:

Answer is given below.

If you face difficulty in understating the answer, see attached file.

Explanation:

Molding Assembly

Employee A 19 75

Hours B 2180 2180

Toal Labor Hours A*B 41420 163500

Engineering Gen Factory Molding Assembly Total

Budgeted Overheads $ 206,000 $ 395,000 $ 198,000 $ 73,000 $872,000

Engineering Hours 2100 2400 7600 $ 12,100

Square Feet 95850 447300 95850 $639,000

Weights for Direct Method

Engineering Hours 24.00% 76.00%

Square Feet 82.35% 17.65%

Weightes for reciperocal

Engineering Hours% 17.36% 19.83% 62.81%

Square Feet% 15.00% 70.00% 15.00%

1. Direct Method Allocation:

Engineering Gen Factory Molding Assembly Total

Budgeted Overheads $ 206,000 $ 395,000 $ 198,000 $ 73,000 $872,000

Engineering $ -206,000 $ 49,440 $ 156,560 $ -

Gen Factory $ -395,000 $ 325,294 $ 69,706 $ -

Total Overhead a $ 572,734 $ 299,266

Direct Labor Hours b 41420 163500

Overhead Per DLH a/b $ 13.83 $ 1.83

1. Reciperocal Method Allocation:

Engineering 206000+0.15Gen Factory

Gen Factory 395000+0.1736Engineering

Engineering 206000+0.15(395000+0.1736Engineering)

Engineering 206000+59250+0.02604Engineering

0.97396 Engineering 265250

Engineering $ 272,342

Gen Factory 395000+0.1736Engineering

Gen Factory 395000+(0.1736*272342)

Gen Factory $ 442,264 R/Off Gap

Engineering Gen Factory Molding Assembly Total

Budgeted Overheads $ 206,000 $ 395,000 $ 198,000 $ 73,000 $872,000

Engineering $ -272,342 $ 47,266 $ 54,018 $ 171,058 $ -

Gen Factory $ 66,340 $ -442,264 $ 309,585 $ 66,340 $ -

Total Overhead a $ 561,603 $ 310,397

Direct Labor Hours b 41420 163500

Overhead Per DLH a/b $ 13.56 $ 1.90

Part -3

The major advantage of reciprocal method is that it fully takes into account the interdepartmental services

and is therefore considered a more accurate method than direct and step method for departmental cost allocation.

Download xlsx

5 0

3 years ago

Teel Printing uses two measures of activity, press runs and book set-ups, in the cost formulas in its budgets and performance re

juin [17]

Answer:

D. $193,750

Explanation:

Calculation for the wages and salaries in the flexible budget for July

FLEXIBLE BUDGET FOR JULY

Using this formula

Flexible budget= Wages and salaries Cost formula per month+Actual activity press runs*Wages and salaries per press runs+Actual activity book set-ups*Wages and salaries book set-up

Let plug in the formula

Flexible budget=$8,850+201*400+110*950

Flexible budget=$193,750

Therefore the wages and salaries in the flexible budget for July would be closest to $193,750

7 0

3 years ago

Exercise 11-13A Calculate financing cash flows (LO11-5) Dristell Inc. had the following activities during the year (all transact

Scilla [17]

Answer:

The net cash flows from financing activities is -$45,000

Explanation:

The computation of the net cash flows from financing activities is shown below:

= Additional common stock issued - purchase of treasury stock - dividend paid - long term note payable issued

= $160,000 - $75,000 - $40,000 - $90,000

= -$45,000

The other items which are mentioned in the question have come under the investing activities

3 0

3 years ago

On March 31, 2021, Southwest Gas leased equipment from a supplier and agreed to pay $350,000 annually for 15 years beginning Mar

Levart [38]

Answer:

Answer for the question:

On March 31, 2021, Southwest Gas leased equipment from a supplier and agreed to pay $350,000 annually for 15 years beginning March 31, 2022. Generally accepted accounting principles require that a liability be recorded for this lease agreement for the present value of scheduled payments. Accordingly, at inception of the lease, Southwest recorded a $3,187,770 lease liability. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:

Determine the interest rate implicit in the lease agreement. (Do not round intermediate calculations.)

Is given in the attachment.

Explanation:

3 0

3 years ago