An unanticipated expense that will make it difficult to get by day-to-day would be a candidate for…

During October the plant produced 8,000 ingots and incurred the following costs: a. Purchased 33,000 pounds of materials at a co

goldfiish [28.3K]

Answer: Total Variable Costs = $110130

Explanation:

The question in incomplete. Requirements were not provided in the question, as a result it is not clear what the question requires us to do. We will assume the question requires us to calculate Total variable costs since There is nothing in the question that talks about fixed costs.

Total Variable Costs

Manufacturing costs

Direct Material Per pound = $2.95

Direct Material used = 27800 pounds

Direct Material Cost = 27800 x 2.95 = $82010

Direct Labor

Direct Labor cost per hour = $6.20

Direct Labor hours = 3800

Direct Labour Cost = 3800 x $6.20 = $23560

Variable Manufacturing overhead cost = $4560

Total Variable Costs = Direct Material cost + Direct labor costs + Variable Manufacturing overhead

Total Variable Costs = $82010 + $23560 + $4560

Total Variable Costs = $110130

7 0

3 years ago

Ferdinand’s employer will match 50% of his $250 monthly contributions to his 401(k). This means that Ferdinand’s employer will p

irina [24]

Answer and Explanation:

The computation of the given question is shown below:-

Total Contributions = Monthly contribution + Amount invested in Ferdinand’s 401(k)

= $250 + $125

= $375

1. Future Value = PMT [((1 + r)n - 1) ÷ r

Future value = 375 × ((1 + 0.03 ÷ 12) × 12 × 40 - 1) ÷ (0.03 ÷ 12)

= $347,272

2. Ferdinand deposit = Given Amount × Total number of months in a year × Number of years

= $250 × 12 Months × 40 Years

= $120,000

3. The Amount put in by the employer = 50% of $250 ×Total number of months in a year × Number of years

= $125 × 12 Months × 40 Years

= $60,000

4. Interest = Future value - Ferdinand deposit - The Amount put in by the employer

= $347,272 - $120,000 - $60,000

= $167,272

We simply applied the above formulas

4 0

3 years ago

A firm with $600,000 in sales, cash on hand of $750,000, liabilities of $200,000 and total assets of $1 million has a total asse

RideAnS [48]

Answer:

Total Asset Turnover = 0.6 times

Explanation:

Total Asset Turnover = $600,000/$1,000,000

Total Asset Turnover = 0.6 times

It measures the efficiency of a company's use of its assets in generating sales revenue or sales income to the company. Companies with low profit margins tend to have high asset turnover, while those with high profit margins have low asset turnover.

It is an important financial ratio used to understand how well the company is utilizing its assets to generate revenue.

5 0

3 years ago

Olivia Village was recently incorporated and began financial operations on July 1, 20X2, the beginning of its fiscal year. The f

sergey [27]

Answer:

Olivia Village

Journal Entries:

July 1, 20X2 to June 30, 20X3:

1. No journal entry required.

2. Debit Property Taxes Receivable $390,000

Credit Property Tax Revenue $390,000

To record the levying of property taxes

Debit Uncollectible taxes expense $7,800

Credit Uncollectible tax expense $7,800

To record the estimated uncollectible of 2%.

3. Debit Marketable Securities $50,000

Credit Restricted Trust Fund Donations $50,000

To record the donation of marketable securities.

Debit Restricted Trust Fund $5,500

Credit Marketable Securities Revenue $5,500

To record the revenue earned on marketable securities.

4. Debit Internal Service Fund $5,000

Credit General Fund $5,000

To record the transfer of funds.

5. Debit Special Assessment Fund $72,000

Credit Special Assessment Bonds $72,000

To record the issue of bonds for special assessment project.

Debit Special Assessment Receivable $24,000

Credit Special Assessment Levy $24,000

To record the special assessment levied

6. Special Assessment Fund $27,000

Credit Special Assessment Receivable $24,000

Credit General Fund $3,000

To record the collection of the first year's special assessment and transfer from General Fund.

7. Debit Capital Projects Fund $75,000

Credit Contractor Payable $75,000

To record the letting of the contract for lighting.

June 30, 20X3:

Debit Contractor Payable $75,000

Credit Capital Projects Fund $75,000

To record the payment of the contractor for the project.

8. Debit Supplies $1,900

Credit Internal Service Fund $1,900

To record the purchase of various supplies.

9. Debit General Fund $393,000

Credit Property taxes Receivable $386,000

Credit Licenses and permit fees $7,000

To record cash collections for general fund

Debit Allowance for Uncollectible taxes $3,800

Credit Uncollectible Expenses $3,800

To adjust the allowance for uncollectible taxes to $4,000 balance.

10. Debit General Fund $500,000

Credit Bonds Payable $500,000

To record the issue of 6%, 20-year bonds payable.

11. Debit Fire Truck $15,000

Credit General Fund $15,000

To record the payment for the purchase of a fire truck.

Explanation:

Olivia Village can use the general journal to initially record transactions that occur during the year. The journal shows the accounts to be debited and the accounts to be credited.

3 0

3 years ago

2. You are the human resources manager for a famous retailer and are trying to convince the president of the company to change t

Colt1911 [192]

The goal of any reasonable firm is to optimize its earnings. Providing incentives to the workers is one of the management methods to induce maximum effort from them in order to achieve the objective of the firm.In the present structure of employee settlement where the retail personnel is paid a fixed wage of $20 per hour, there's no reward for the retail sales staff to push more difficult for the sales and increase the profits. There is no penalty on them in case the sales go down and the profits are negatively affected.In the proposed worker compensation structure where each of the retail personnel is paid 1 percent of the shop's daily revenues over and above a fixed wage of $10 per hour, the staff is motivated to work harder to increase the sales and the profits of the firm. Each of the retail staff members then will be motivated by self-interest and devise methods to increase their productivity so that they can maximize their everyday compensation. Hence, by taking care of their self-interest, they will indirectly help in attaining the company's objective of maximizing its daily earnings to $25,000 per shop.

4 0

2 years ago