which of the following statements is not true when considering all contextual factors while setting a price for your product or service

Answers

Answer 1

Tangible, financial resources  is not true when considering all contextual factors while setting a price for your product or service. Any assets you have in your company with a physical form are considered tangible assets.

They include current assets like goods and cash as well as fixed assets like real estate, buildings, and product machinery. Equipment and inventory are examples of tangible assets, whereas valuable intangible assets are assets that cannot be touched (such as trademarks). Assets can be bought and sold and both tangible and intangible assets have value. A tangible asset's value can be determined more readily than an intangible asset. Tangible resources are defined as tangible assets, including money and material possessions like a company's real estate, machinery, and equipment.

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4. Suppose the spot Yuan/dollar exchange rate is 6.79. Sue, a Chinese national, has 10,000 Yuan that she wants to invest in a U.S. asset that promises an annual interest of 7 percent. If the expected exchange rate (Yuan/dollar) after a year is 7.2, how much will Sue earn in Yuan

Answers

Answer:

Spot exchange rate (Yaun / Dollar) = 6.79 > Therefore, exchanging Yuan for Dollar:    10,000 Yuan.

Explanation:

Yuan/Dollar existing exchange rate is 6.79           Sue has 10,000 Yuan which is converted to 10,000 / 6.79

1 points Time Remaining 1 hour 14 minutes 35 seconds01:14:35 eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 13 Time Remaining 1 hour 14 minutes 35 seconds01:14:35 Alice is single and self-employed in 2020. Her net business profit on her Schedule C for the year is $196,000. What is her self-employment tax liability and additional Medicare tax liability for 2020

Answers

Answer:

Self employment tax liability = $‭22,323.97Additional Medicare tax liability = $0

Explanation:

According to the IRS, the amount subject to self-employment tax is 92.35% of net income from self-employment for the year.

Alice's taxable income is:

= 92.35% * 196,000

= $181,006

Self employment tax-liability:

Social security tax for 2020 is 12.4% for the first $137,700 of income.

= 12.4% * 137,700

= $17,074.80

Medicare tax:

= 2.9% on taxable income

= 2.9% * 181,006

= $‭5,249.17

Self-employment tax is:

= 17,074.80 + 5,249.17

= $‭22,323.97

Additional Medicare tax applies on only amounts above $200,000 so it is $0 in this case.

Tolbotics Inc. is considering a three-year project that will require an initial investment of $44,000. If market demand is strong, Tolbotics Inc. thinks that the project will generate cash flows of $29,500 per year. However, if market demand is weak, the company believes that the project will generate cash flows of only $2,000 per year. The company thinks that there is a 50% chance that demand will be strong and a 50% chance that demand will be weak.
If the company uses a project cost of capital of 14%, what will be the expected net present value (NPV) of this project if the company is ignoring the timing option?
a. -$3,435
b. -$3,779
c. -$3,092
d. -$3,607

Answers

Answer:

Expected value NPV =$-,7434

Explanation:

The Expected Net present value (NPV) is the difference between the Present value (PV) of Expected value  cash inflows and the PV of cash outflows. A positive NPV implies a good and profitable investment project and a negative figure implies the opposite.  

Expected value NPV = PV of expected value  cash inflow - PV of cash outflow  

Present value of cash inflow:  

The expected cash in flows is the sum of the cash inflows multiplied by their respective probabilities. For Tolbotics it is calculated as follows:

Expected cash inflows=m (29,500× 0.5) + (2,000× 0.5)=15,750

NPV = 15,750× (1-1.14^(-3)/0.14) - 44,000=-7434.

Expected value NPV =$-7,434

Advanced Enterprises reports year−end information from 2019 as​ follows: Sales​ (160,250 units) ​$969,000 Cost of goods sold ​(641,000) Gross margin ​328,000 Operating expenses ​(268,000) Operating income ​$60,000 Advanced is developing the 2020 budget. In 2020 the company would like to increase selling prices by​ 13.5%, and as a result expects a decrease in sales volume of​ 10%. All other operating expenses are expected to remain constant. Assume that cost of goods sold is a variable cost and that operating expenses are a fixed cost. What is budgeted cost of goods sold

Answers

Answer:

Cost of goods sold = $576,900

Explanation:

The budgeted cost of goods sold will be the sales volume in 2020 multiplied by cost per unit .

Sales volume in year 2020= (100-10)% ×  sales figure for 2019

                                            = 90% × 160,250=  144,225  

Cost of goods sold per unit =  cost of goods sold in 2019/Sales units in 2019

                                              = 641,000/160250=$4

Cost of goods sold =  $4× 144,225 =  $576,900

Cost of goods sold = $576,900

Duo, Inc., carries two products and has the following year-end income statement (000s omitted): Product AR-10 Product ZR-7 Budget Actual Budget Actual Units 3,600 5,000 9,200 8,600 Sales $ $ 10,800 $ 13,500 $ 18,400 $ 18,060 Variable costs 2,880 5,000 9,200 9,030 Fixed Costs 1,800 1,900 2,400 2,400 Total Costs $ 4,680 $ 6,900 $ 11,600 $ 11,430 Operating income $ 6,120 $ 6,600 $ 6,800 $ 6,630 The net effect of AR-10's sales volume variance on profit is:

Answers

Answer:

Sales volume variance $2,380 favorable. The net effect on profit of AR-10's sales is that it will increase profit by $2,380

Explanation:

The sales volume variance is calculated as the difference between the budgeted and the actual sales volume multiplied by he standard profit per unit

Standard profit per unit = 6,120/3,600=$1.7

                                                                    Unit

Budgeted sales units                               3,600

Actual sales units                                     5,000

Sales volume                                             1,400

Standard profit per unit                            × $1.7

Sales volume variance                            2,380 Favorable

Sales volume variance $2,380 favorable

The net effect on profit of AR-10's sales is that it will increase profit by $2,380

Heidi (age 57) invested $4,000 in her Roth 401(k) on January 1, 2012. This was her only contribution to the account. On July 1, 2020, when the account balance was $6,000, she received a nonqualified distribution of $4,500. What is the taxable portion of the distribution and what amount of early distribution penalty will Heidi be required to pay on the distribution

Answers

Answer:

$450

Explanation:

For a ROTH 401 (k) qualified distribution to be non-taxable, either of the following conditions should be met:

1. Individual should be more 59 and a half years old or more.

2. Has held the account for 5 years or more.

In this case, Heidi invested at the age of 57 and received distribution of $4,500 after 8 years. So she meets both criteria but the type of distribution she received is a non-qualified one. So, $4,500 is subject to tax as per ordinary income at 10% that is $450 (0.1*4,500).

Heidi is not subject to any amount if early distribution penalty as she meets both criteria.

When following up with a customer it is important to ___.
a. make the process easy on the employee
b. make the process a little unpleasant
c. keep it in the store's best interest
d. use a method suited to the customer

Answers

Answer:

When following up with a customer it is important to ___.

d. use a method suited to the customer

Explanation:

To ensure a great customer experience, it is important that follow-up steps are followed.  In the first place, following up with a customer improves their overall experience with the company.  Customer follow-up helps to solve problems a long time before they become an unmanageable issue.   It endears the customer to the entity and its products and services.  It enriches a trusty relationship, engendering great customer's experience and service.

Transic Corporation has the following financial data for 2016 and 2017. 2017 2016 ASSETS Current Assets: Cash $ 48,000 $ 14,000 Marketable Securities 9,000 13,000 Accounts Receivable 35,000 24,000 Other Current Assets 15,000 18,000 Total Current Assets 107,000 69,000 Fixed Assets (net) 140,000 130,000 Total Assets $247,000 $199,000 LIABILITIES Current Liabilities $ 72,000 $ 52,000 Long-term Liabilities 50,000 37,000 Total Liabilities $122,000 $ 89,000 Total Stockholders' Equity $125,000 $110,000 Total Liabilities And Stockholders' Equity $247,000 $199,000 What is Transic's current ratio for 2017

Answers

Answer:

1.49

Explanation:

Calculation to determine Transic's current ratio for 2017

Using this formula

2017 Current ratio=2017 Total Current Assets /2017 Current Liabilities

Let plug in the formula

2017 Current ratio=$107,000/$ 72,000

2017 Current ratio=1.486

2017 Current ratio=1.49 (Approximately)

Therefore Transic's current ratio for 2017 is 1.49

what is the role of education to become a manager ?​

Answers

Answer:

There are several ways to become a Business Manager, but most organisations require a minimum of a bachelor's degree in business management.

These are usually 3-year courses covering topics such as management theory and practice, budgeting and planning, leadership skills and organisational behaviour.

Dwyer Company reported the following results for the year ended December 31, 2007, its first year of operations: 2007 Income (per books before income taxes) $ 1,500,000 Taxable income 2,400,000 The disparity between book income and taxable income is attributable to a temporary difference which will reverse in 2008. What should Dwyer record as a net deferred tax asset or liability for the year ended December 31, 2007, assuming that the enacted tax rates in effect are 40% in 2007 and 35% in 2008?

Answers

Answer: $315,000 deferred tax asset

Explanation:

The amount that Dwyer should record as a net deferred tax asset or liability for the year ended December 31, 2007 will be calculated thus:

= ($2400000 – $1500000) × 35%

= $900000 × 35%

= $900000 × 35/100

= $900000 × 0.35

= $315000.

Therefore, the answer is $315,000 deferred tax asset

You are comparing two companies in the same industry. You have determined that Gore Corp. depreciates its plant assets over a 40-year life, whereas Ross Corp. depreciates its plant assets over a 20-year life. Discuss the implications this has for comparing the results of the two companies.

Answers

Answer:

Gore Corp. is depreciating over a longer term than Ross Corp. This means that on a yearly basis, they will have less depreciation expenses. This would give them a higher net income than Ross Corp but as a result they will then have to pay a higher tax.

Ross Corp on the other hand will be depreciating over a shorter term so this would mean that they are recognizing a higher depreciation expense per year. This would mean that their net income will be lower and by extension their taxes will be lower as well.

Kaspar Industries expects credit sales for January, February, and March to be $203,400, $267,600, and $317,300, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month.

Answers

Answer:

January = $152,550

February = $251,550

March = $304,875

Explanation:

To Compute cash collections from customers follow the given collection history closely :

Month`s receipts = Cash Collected in Month of Sale (75%) + Cash Collected in Month After Sale

Cash Collection Schedule

Month                                               January     February    March

In Month of Sales                           $152,550  $200,700  $237,975

Month After Sale                                    $0       $50,850   $66,900

Total                                                $152,550   $251,550  $304,875

For February, sales revenue is $700,000, sales commissions are 5% of sales, the sales manager's salary is $96,000, advertising expenses are $90,000, shipping expenses total 2% of sales, and miscellaneous selling expenses are $2,500 plus 1/2 of 1% of sales. Total selling expenses for the month of February area.$161,000b.$235,000c.$241,000d.$237,500

Answers

Answer:

C. $241,000

Explanation:

Sales commission = $35,000              (5% of $ 700,000)

Salary of sales manager = $96,000

Advertising expenses = $90,000

Shipping expenses = $14,000               (2% of $ 700,000)

Miscellaneous selling expenses = $6,000          

($ 2,500 add 1/2 * 1% * $ 700,000)

Total = $241,000

Sheila and Jim live in an island where they are the only two workers. Sheila can either catch 10 fish or gather 40 pounds of berries each day, and Jim can either catch 8 fish or gather 24 pounds of berries each day. Both of them work 200 days per year. At current world prices 1 fish trades for 3.5 pounds of berries. Who has the comparative advantage in producing berries

Answers

Answer:

SHEILA

Explanation:

A person has comparative advantage in production if it produces at a lower opportunity cost when compared to other people.

Sheila's opportunity cost in producing berries = 10/40 = 0.25

Jim's opportunity  cost in producing berries = 8/24 = 0.33

Sheila has a lower opportunity cost in the production of berries and thus has a comparative advantage in the production of berries

Texas Roadhouse opened a new restaurant in October. During its first three months of operation, the restaurant sold gift cards in various amounts totaling $1,800. The cards are redeemable for meals within one year of the purchase date. Gift cards totaling $728 were presented for redemption during the first three months of operation prior to year-end on December 31. The sales tax rate on restaurant sales is 4%, assessed at the time meals (not gift cards) are purchased. Texas Roadhouse will remit sales taxes in January.

Required:
a. Record (in summary form) the S3,500 in gift cards sold (keeping in mind that, in actuality, the firm would record each sale of a gift card individually).
b. Record the S728 in gift cards redeemed.
c. Determine the balance in the Deferred Revenue account (remaining liability for gift cards).

Answers

Answer:

General Journal Debit Credit

1 Cash 2600  

Unearned revenue  2600

(To record gift cards sold)  

2 Unearned revenue 832  

Sales tax payable  32

Sales revenue  800

(To record gift cards redeemed)  

Prepare a corrected trial balance by changing incorrect amounts and placing each amount in the proper column.

Davenport's European Tours Trial Balance October 31, 20--
Account Title Debit Credit
Cash 15,560
Accounts Receivable 406
Supplies 246
Prepaid Insurance 589
Equipment 24,450
Accounts Payable 6,012
Davenport, Capital 30,500
Davenport, Drawing 1,800
Repair Fees 9,274
Wages Expense 4,250
Rent Expense 1,300
Advertising Expense 290
Utilities Expense 495
47,586 47,586

Answers

hii can you please mark me brainliest !! I need it ans the answer is 17,729

example of small scale business​

Answers

Found this online:

Few examples of small scale industries are paper, toothpick, pen, bakeries, candles, local chocolate, etc.

I hope this helps.
If it doesn’t than I would maybe get a second opinion. :)

The financial information for Pear Company is provided below: Sales $2.8 million Cost of goods sold $2.3 million Purchases $2.1 million Average receivables $0.6 million Average inventory $0.5 million Average payables $0.2 million The company's cash conversion cycle is closest to: (Choose the closest one.) Select one: A. 122 days B. 192 days C. 129 days D. 114 days

Answers

Answer:

A. 122 days

Explanation:

The computation of the cash conversion cycle is shown below:

= DAys sales outstanding + days inventory outstanding - days payable outstanding

where

Days sales outstanding is

= 365 ÷ $2.8 ÷ $0.6

= 78.16 days

The days inventory oustandings is

= 365 ÷ $2.3 ÷ $0.5

= 79.35 days

And, the days payable outstanding is

= 365 ÷ $2.1 ÷ $0.2

= 34.76 days

Now the cash conversion cycle is

= 78.16 days + 79.35 days - 34.76 days

= 122.75 days

= 122 days

Hsung Company accumulates the following data concerning a proposed capital investment: cash cost $226,445, net annual cash flows $40,500, and present value factor of cash inflows for 10 years is 5.89 (rounded). (If the net present value is negative, use either a negative sign preceding the number eg -45 or parentheses eg (45).) Determine the net present value, and indicate whether the investment should be made.

Answers

Answer:

Hsung Company

a. The net present value is:

= $12,100.

b. Since the investment could yield a net present value of $12,100, the investment should be made.

Explanation:

a) Data and Calculations:

Cash cost of proposed capital investment = $226,445

Net annual cash inflows = $40,500

Present value factor of cash inflows for 10 years = 5.89 (rounded)

Present value of net annual cash inflows = $238,545 ($40,500 * 5.89)

The net present value of the proposed capital project = Present value of net annual cash inflows minus the initial investment cost

= $12,100 ($238,545 - $226,445)

Answer:

12100

Explanation:

40500*5.89=238545

238545-226445=12100

12100

A general rule in contract law is that for a promise to be enforce by a court, there must be

Answers

Answer:

a written agreement

Explanation:

A contract is a form of a written agreement.

A general rule in contract law is that for a promise to be enforced by a court, there must be a written agreement. Thus option D is appropriate.

What is a Law?

A law is referred to as a set of rules and regulations, guidelines given in the constitution and implemented by the ruling government to maintain cordial relationships among people and helps to conduct the functioning of any country properly.

A contract is referred to as a written agreement that is enforceable by the law and has mutual consent of both the contract where all the features of a valid contract are fulfilled.

The feature of a valid contract is that there must be two-party having mutual consent to participate in the agreement in exchange for something in return with lawful consideration.

Therefore, option D is appropriate.

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Assets Liabilities and Equity Current assets: Current liabilities: Cash $ 60 Accounts payable $ 240 Accounts receivable (net) 170 Other current liabilities 80 Notes receivable 50 Total current liabilities 320 Inventory 200 Long-term liabilities 110 Prepaid expenses 25 Total liabilities 430 Total current assets 505 Shareholders' equity: Equipment (net) 255 Common stock 150 Retained earnings 180 Total shareholders' equity 330 Total assets $ 760 Total liabilities and equity $ 760 The current ratio is (Round your answer to 2 decimal places.):

Answers

Answer:

the current ratio is 1.58 times

Explanation:

The computation of the current ratio is shown below:

As we know that

Current ratio = Current assets ÷ current liabilities

= $505 ÷ $320

= 1.58 times

By dividing the current assets from the current liabilities we can get the current ratio

hence, the current ratio is 1.58 times

It is used for analyzing the liquidating position of the company

... is a systematic and planned introduction of employees to their jobs, their co-workers and the
organisation.
a. Job evaluation
b. Investiture orientation
c. Orientation
d. Placement​

Answers

Answer:

c. orientation

Explanation:

The word orientation means finding out where something is supposed to be, and job orientation tells an employee everything important about their job,

Fill in the missing numbers for the following income statement. (Input all amounts as positive values. Do not round intermediate calculations.)
Sales Costs Depreciation EBIT Taxes (22%) Net income 747,300 582,600 89,300
a. Calculate the OCF. (Do not round intermediate calculations.)
b. What is the depreciation tax shield? (Do not round intermediate calculations.)
a. OCF
b. Depreciation tax shield

Answers

Answer: See explanation

Explanation:

Sales = 747300

Less: Costs = 582600

Less: Depreciation = 89300

EBIT = 75400

Less: Taxes at 22% = 22% × 75400 = 16588

Net income = EBIT - Taxes = 75400 - 16588 = 58812

a. Calculate the OCF.

OCF will be calculated as:

= Net income + Depreciation

= 58812 + 89300

= 148,112

b. What is the depreciation tax shield?

Depreciation tax shield will be:

= Depreciation × Tax rate

= 89300 × 22%

= 89300 × 0.22

= 19646

P11-1A Tidal Corporation was organized on January 1, 2017. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year: Jan. 10 Issued 70,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 12,000 shares of preferred stock for cash at $53 per share. May 1 Issued 120,000 shares of common stock for cash at $6 per share. Sept. 1 Issued 5,000 shares of common stock for cash at $5 per share. Nov. 1 Issued 3,000 shares of preferred stock for cash at $56 per share. Instructions: Journalize the transactions.

Answers

Answer:

1. Jan. 10

Dr Cash $280,000

Cr Common Stock $70,000

Cr AdditionalPaid-in Capital-Common $210,000

Mar. 1

Dr Cash $636,000

Cr Preferred Stock $600,000

Cr Additional Paid-in Capital-Preferred $36,000

May 1

Dr Cash $720,000

Cr Common Stock $120,000

Cr Additional Paid-in Capital-Common $600,000

Sept. 1

Dr Cash $25,000

Cr Common Stock $5,000

Cr Additional Paid-in Capital-Common $20,000

Nov. 1

Dr Cash $168,000

Cr Preferred Stock $150,000

Cr Additional Paid-in Capital-Preferred $18,000

Explanation:

Preparation of the journal entries

1. Jan. 10

Dr Cash (70,000x$4) $280,000

Cr Common Stock (70,000x$1) $70,000

Cr AdditionalPaid-in Capital-Common $210,000

($280,000-$70,000)

Mar. 1

Dr Cash (12,000x$53) $636,000

Cr Preferred Stock (12,000x$50) $600,000

Cr Additional Paid-in Capital-Preferred $36,000

($636,000-$600,000)

May 1

Dr Cash (120,000x$6) $720,000

Cr Common Stock (120,000x$1) $120,000

Cr Additional Paid-in Capital-Common $600,000

($720,000-$600,000)

Sept. 1

Dr Cash (5,000x$5) $25,000

Cr Common Stock (5,000x$1) $5,000

Cr Additional Paid-in Capital-Common $20,000

($25,000-$5,000)

Nov. 1

Dr Cash (3,000x$56) $168,000

Cr Preferred Stock(3,000x$50) $150,000

Cr Additional Paid-in Capital-Preferred $18,000

($168,000-$150,000)

A firm's sustainable growth rate represents the:
percentage change in sales times the profit margin.
possible growth without jeopardizing net working capital.
highest growth rate without decreasing the dividend.
highest growth rate without increasing financial leverage.
What is the sustainable growth rate for a firm with net income of $2.90 million, cash dividends of $1.90 million, and return on equity of 16%? (Do not round intermediate calculations.)
a. 9.12%
b. 1.32%
c. 5.52%
d. 3.72%

Answers

Answer:

1. A firm's sustainable growth rate represents the:

highest growth rate without increasing financial leverage.

2. The sustainable growth rate of a firm with net income of $2.90 million, cash dividends of $1.90 million, and return on equity of 16% is:

= c. 5.52%

Explanation:

a) Data and Calculations:

Sustainable growth rate = Return on equity * Retention rate

Net income =  $2.90 million

Cash dividends 1.90 million

Retained earnings = $1.0 million

Retention rate = $1.0/$2.90 * 100 = 34.48%

Return on equity = 16%

Therefore, the sustainable growth rate = 16% * 34.48%

= 5.5168%

= 5.52%

b) Sustainable growth rate is the rate of revenue growth, which an entity can attain without increasing its financial leverage (debts).  The sustainable growth rate answers the question of how much a company can grow without additional equity or debt financing.  It is a ratio that investment analysts and investors widely seek.  There are four main ways of increasing an entity's sustainable growth rate, including sale of debt, issue of equity, increased profitability through efficient sales revenue, and reduced dividends payout to increase retained earnings.

Pet Supplies Inc., a pet wholesale supplier, was organized on January 1. Projected sales for each of the first three months of operations are as follows: January $310,000 February 350,000 March 510,000 All sales are on account. 58% of sales are expected to be collected in the month of the sale, 37% in the month following the sale, and the remainder in the second month following the sale. Prepare a schedule indicating cash collections from sales for January, February, and March.

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Sales:

January $310,000

February 350,000

March 510,000

58% of sales are expected to be collected in the month of the sale

37% in the month following the sale

5% in the second month following the sale

Cash collection January:

Cash from sales in account January= (310,000*0.58)= 179,800

Total cash collection= $179,800

Cash collection February:

Cash from sales in account January= (310,000*0.37)= 114,700

Cash from sales in account February= (350,000*0.58)= 203,000

Total cash collection= $317,700

Cash collection March:

Cash from sales in account January= (310,000*0.05)= 15,500

Cash from sales in account February= (350,000*0.37)= 129,500

Cash from sales in account March= (510,000*0.58)= 295,800

Total cash collection= $440,800

On October 1, 2021, Blue Corp. issued $744,000, 7%, 10-year bonds at face value. The bonds were dated October 1, 2021, and pay interest annually on October 1. Financial statements are prepared annually on December 31. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Oct. 1, 2021 enter an account title for the journal entry on October 1, 2021enter an account title for the journal entry on October 1, 2021 enter a debit amountenter a debit amount enter a credit amountenter a credit amount enter an account title for the journal entry on October 1, 2021enter an account title for the journal entry on October 1, 2021 enter a debit amountenter a debit amount enter a credit amountenter a credit amount

Answers

Answer:

Blue Corp.

Journal Entry

Date            Account Titles and Explanation   Debit   Credit

Oct. 1, 2021 Cash                                        $744,000

                   Bonds Liability                                     $744,000

To record the issuance of the 7%, 10-year bonds at face value.

Explanation:

a) Data and Analysis:

Face value of 7%, 10-year bonds = $744,000

Bonds issue = at face value

Issue date = October 1, 2021

Interest payment = annual

Interest payment date = October 1

Annual interest payment = $52,080 ($744,000 * 7%)

Records on December 31, 2021:

Accrual of interest for the year:

Interest Expense $13,020

Interest payable $13,020

To accrue interest for 3 months.

Records on October 1, 2022:

Interest Expense $39,060

Interest payable $13,020

Cash $52,080

To record the interest payment.

Wallace Company provides the following data for next year: MonthBudgeted Sales January$ 120,000 February 108,000 March 132,000 April 144,000 The gross profit rate is 35 % of sales. Inventory at the end of December is $ 21,600 and target ending inventory level are 20 % of next month's sales, stated at cost. What is the amount of purchases budget for January

Answers

Answer:

$70440

Explanation:

Given data :

Month             Budgeted sales

January           $120,000

February         $108,000

March              $132,000

April                 $144,000

Gross profit rate = 35% of sales

Inventory at end of December = $21600

Target ending inventory level = 20% of next month sales

Determine the amount of purchases budget for January

First step : calculate

Cost of goods for January = Budgeted sales - Gross profit

= $120,000 - $42,000 =  $78000

Next : determine ending inventory in January

= 20% * ( Budgeted sales in Feb * 65% )

= 20% * ($108000 * 65%) = $14040

Determine budgeted purchase using the Relation below

Cost of goods sold = Beginning inventory + Budgeted purchases - Ending inventory

78,000 = 21600 + Budgeted purchases - 14040

therefore

Budgeted purchases for January = ( 78,000 + 14040 - 21600 )

                                                       = $70440

Crossroad Corporation is trying to decide whether to invest to automate a production line. If the project is accepted, labor costs will decrease by $753,000 per year. However, other cash operating expenses will increase by $216,000 per year. The equipment will cost $105,000 and is depreciable over 9 years using simplified straight line to a zero salvage value. Crossroad will invest $24,000 in net working capital at installation. The firm has a marginal tax rate of 34%. Calculate the firm's annual cash flows associated with the new project.

Answers

Answer:

The incremental revenue the company gets is:

= Labor cost decrease - Other cash increase

= 753,000 - 216,000

= $537,000

Depreciation = 105,000/ 9

= $11,667

Annual Cashflows (Year 1 - 9)

= (Incremental revenue - Depreciation) * ( 1 - tax) + Depreciation

= (537,000 - 11,667) * (1 - 34%) + 11,667

= $‭358,386.78‬

Cashflow in year 0

= Cost of equipment + Investment in net working capital

= -105,000 - 24,000

= -$129,000

Fill in the blanks to complete the sentence. A manufacturing company has budgeted production at 5,000 units for May and 4,400 units in June. Each unit requires 3 pounds of materials at a cost of $10 per pound. On May 1, there are 2,750 pounds of materials on hand. The company desires an ending inventory of 60% of the next month's materials requirements. The total cost of direct materials purchases for May will be $ .

Answers

Answer:

Direct material purchases in May = 21,670× $10= $216,700

Explanation:

Material purchase budget is determined by adding the closing inventory of material to the material usage budget less the opening inventory.

Material budgets for May will be prepared as follows:

Materials needed for May production = 5,500 × 3 = 16,500

Materials needed for June production = 4,400× 3= 13,200

Closing inventory of raw material in May =60% × June requirement = 60% × 13,200 =7,920

 Material purchase budget for February = Usage budget + closing inventory - opening inventory

= 16,500 + 7,920- 2,750=21,670

Direct material purchases in May = 21,670× $10= $216,700

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