Regarding conventional factors of production (capital and labor) and technology
a. Explain why conventional factors of production are considered rival, and hence exhibit high degrees of excludability
b. explain why technology is considered non rival, and hence exhibits low excludability
In: Economics
"Interview with Robot Named Sophia” Imagine the most valuable new use of computer technology. This topic gets you to ponder what the world might be like for your children. Please also discuss and pros and cons of technology in addition to challenges ahead.
In: Psychology
The use of assistive technology has had a huge impact on disabled individuals. Please discuss the benefits, as well as some potential issues, in the application of assistive technologies with this population. Include your operational definition of assistive technology in your response.
Thank you.
In: Psychology
A $10 000 bond with 5% interest payable quarterly, redeemable at par on November 15, 2030, was bought on July 2, 2014, to yield 9% compounded quarterly. If the bond sells at 92.75 on September 10, 2020, what would the gain or loss on the sale be?
Face value = 10 000.00; b = 1.25%
Principal = 10 000.00; i = 2.25%
Interest dates are November 15, February 15, May 15, and August 15.
The interest date preceding the date of sale is August 15, 2020.
The time period August 15, 2020, to November 15, 2030, is 10.25 years: n = 41.
b < i → discount
The interest payment interval August 15, 2020, to November 15, 2020, is 92 days
The interest period August 15, 2020, to September 10, 2020, is 26 days.
In: Finance
January 1, 2020 December 31, 2020
Direct materials 31,000 50,000
Work in process 38,000 41,000
Finished goods 22,000 34,000
The following information was taken from DTD Company's accounting records
for 2020:
Sales revenue ........................................... $630,000
Direct materials purchased .............................. ?
Depreciation, factory equipment ......................... 34,000
Prime costs ............................................. 250,000
Utilities (60% for factory; 40% for office building) .... 20,000
Sales commissions ....................................... 71,000
Indirect materials ...................................... ?
Depreciation, office equipment .......................... 30,000
Rent, factory building .................................. 56,000
Net income .............................................. 10,000
Direct labor ............................................ ?
Advertising ............................................. 68,000
Production supervisor's salary .......................... 74,000
Additional information:
1. Direct labor comprised 35% of the conversion costs for 2020.
2. The actual overhead cost for 2020 was equal to the overhead applied
to production. Thus there was no overhead variance for 2020.
Calculate DTD Company's indirect materials cost for 2020.In: Accounting
Badbug makes Viral Memes which sell for $1,000 each. The production process is fairly simple and involves tweaking components purchased from various suppliers. Since each Viral Meme only takes one hour to assemble, there is essentially no work-in-process inventory.
Badbug has the capacity to make 2,000 Viral Memes per year.
Costs for the Viral Meme components are:
|
Primary GIF |
$100 |
|||
|
Secondary GIF |
20 |
|||
|
JPEGs |
10 |
Each meme should take one hour of direct labor to tweak. Direct labor wages are $150 per hour.
Other manufacturing costs on a monthly basis are:
|
Factory Rent |
$1,000 |
||
|
Factory Insurance |
5,000 |
||
|
Factory Utilities |
200 |
||
|
Factory Miscellaneous |
300 |
Inventory balances are as follows (Badbug uses the FIFO inventory cost flow assumption):
|
Units |
Dollars |
||||
|
Primary GIFs |
1/1/2020 |
300 |
$30,000 |
||
|
12/31/2020 |
290 |
< Budgeted |
|||
|
Secondary GIFs |
1/1/2020 |
600 |
$12,000 |
||
|
12/31/2020 |
580 |
< Budgeted |
|||
|
JPEGs |
1/1/2020 |
900 |
$9,000 |
||
|
12/31/2020 |
870 |
< Budgeted |
|||
|
Finished Viral Memes |
1/1/2020 |
300 |
$107,400 |
||
|
12/31/2020 |
290 |
< Budgeted |
|||
During 2020 (the entire year) Badbug expects to sell 1,000 viral memes.
In: Accounting
Coliseum Company has budgeted the following unit sales:
Quarter Units
Qtr. 1, 2020 60,000
Qtr. 2, 2020 50,000
Qtr. 3, 2020 40,000
Qtr. 4, 2020 80,000
The finished goods inventory on hand on December 31, 2019 was 6,000 units. 90% of the next quarter’s sales will come from production during that quarter, and the remainder of next quarter’s sales will come from this quarter’s ending inventory.
Required: Prepare a production budget for the first two quarters of 2020. Include totals column.
In: Accounting
On January 1, 2020, the Maxell Company purchased P400,00 of 6% term bonds. The bonds are dated January 1, 2020, and the interest is payable semiannually on June 30 and December 31. At the time the bonds were purchased the market interest rate was 8%. The bonds mature on December 31, 2030. Maxell Company uses the effective interest method of amortization.
Instruction: Determine the following:
In: Accounting
Computing and Recording Interest Capitalization
The following information is from Bowin Inc. for a long-term construction project that is expected to be completed in January 2021. The construction project is for a building intended for the company’s own use. The capital expenditure on January 1, 2020, is for the purchase of land for the building site. No new construction loans were opened for the project in 2020. All debt was outstanding for the full year.
Capital Expenditures for 2020
| Date | Amount |
|---|---|
| Jan. 1, 2020 | $ 24,000 |
| Mar. 31, 2020 | 720,000 |
| June 30, 2020 | 1,440,000 |
| Nov. 30, 2020 | 720,000 |
Outstanding Debt in 2020
| Debt | Debt Amount | Interest Rate |
|---|---|---|
| Note payable | $800,000 | 8% |
| Note payable | 640,000 | 8% |
| Bond payable | 1,600,000 | 10% |
| Note payable | 400,000 | 9% |
Answer the following questions:
a. Compute interest to be capitalized and the interest to
be expensed in 2020.
b. Prepare the entry to record the construction
expenditures and interest for 2020.
c. Prepare the entry for depreciation in 2021 assuming
that the project is completed on January 1, 2021. Assume that the
building has a useful life of 30 years, and that the company uses
the straight-line depreciation method.
Note: Do not round until your final answers, then round to nearest whole number.
a.
| Amount of interest to be capitalized | Answer |
| Amount of interest to expense |
b.
Land
Construction in process
cash and payables
c.
In: Accounting
Carla Company sponsors a defined benefit pension plan for its
employees. The following data relate to the operation of the plan
for the year 2020 in which no benefits were paid.
| 1. | The actuarial present value of future benefits earned by employees for services rendered in 2020 amounted to $55,500. | |
| 2. | The company’s funding policy requires a contribution to the pension trustee amounting to $144,729 for 2020. | |
| 3. | As of January 1, 2020, the company had a projected benefit obligation of $908,100, an accumulated benefit obligation of $802,100, and a debit balance of $400,100 in accumulated OCI (PSC). The fair value of pension plan assets amounted to $601,200 at the beginning of the year. The actual and expected return on plan assets was $54,100. The settlement rate was 9%. No gains or losses occurred in 2020 and no benefits were paid. | |
| 4. | Amortization of prior service cost was $50,500 in 2020. Amortization of net gain or loss was not required in 2020. |
Determine the amounts of the components of pension expense that should be recognized by the company in 2020.
(Should be a a table that shows the components of pension expense)
Prepare the journal entry or entries to record pension expense and the employer’s contribution to the pension trustee in 2020.
Indicate the pension-related amounts that would be reported on
the income statement and the balance sheet for Carla Company for
the year 2020.
[Need Income Statement (partial), Comprehensive Income Statement,
and Balance Sheet (partial)]
In: Accounting