On January 1, 2020, Lawrence Co. began construction of
a building to be used as its office headquarters. The building is
expected to be completed on December 31, 2020. Expenditures on this
project during 2020 were as follows:
January 1st $
160,000
March
1st
420,000
June
1st
270,000
October
31st
165,000
On Jan. 1, 2020, the company obtained a $600,000 specific
construction loan with a 7% interest rate. The loan was outstanding
during the entire construction period. The company’s other
interest-bearing debts included two long-term notes of $480,000 and
$900,000 with interest rates of 10% and 11%, respectively. Both
notes were outstanding during the entire construction period.
Instruction:
(a) Determine the amount of interest capitalized for 2020. Please
show your work (i.e. the weighted average accumulated expenditure,
the actual interest, the weighted average interest rate, and the
avoidable interest) to support your final answer. Please round the
WA interest rate to four decimal places when
necessary.
Answer: The amount of interest
capitalized for 2020
is
.
(b) Regardless your answer in (a), determine the amount of
avoidable interest for 2020 assuming that the weighted average
accumulated expenditure is $534,000 (other things being
equal).
In: Accounting
A section of an Introduction to Psychology class took an exam under a set of unusual circumstances. The class took the exam in the usual classroom, but heavy construction noise was present throughout the exam. For all previous exams using the same format and same questions, student scores were normally distributed with a mean of µ = 75.00 and a population standard deviation (sigma) = 10.50. To understand the possible effects of the construction noise, you have been asked to perform a number of statistical procedures for the following sample of exam scores obtained during the construction noise:
Construction Noise Exam Scores
57 58 59 60 61 64 65 66 66 67 67 68
68 69 69 70 70 70 70 71 72 72 72 72
72 73 75 77 78 81 82 83 84 88 96 100
What is the sum of squared deviations (SS) of the sample? Variance of the sample? Standard deviation of the sample?What is the z score for a raw score of 90 in the SAMPLE (as well as POPULATION)? Be sure to use the sample calculation for a z-score.
PLEASE ANSWER THIS THOROUGHLY LABLED THANK U <33
In: Statistics and Probability
Ochre processes tomatoes into tomato sauce, tomato paste, and tomato puree. As part of the cost planning and cost control of operations and activities, the company is currently reviewing the gross-margin percentage of each of its products, using the estimated net realisable value (NRV) method for allocating joint costs. The company processes tomatoes in Department #1, out of which come three products: tomato sauce, tomato paste, and tomato puree. Processing 750,000 kg in Department #1 results in 50,000 kg of tomato sauce, 300,000 kg of tomato paste and 100,000 kg of tomato puree, and the costs in Department #1 are $500,000 in total.
Tomato paste is sold without further processing. Tomato sauce is processed further through Department #2 and the costs are $50,000. Tomato puree is considered a by-product and is processed further through Department #3 and the costs are $50,000. Tomato sauce sells for $4 per kg. Tomato paste sells for $2 per kg. Tomato puree sells for $3 per kg.
Required
In: Accounting
Ochre processes tomatoes into tomato sauce, tomato paste, and tomato puree. As part of the cost planning and cost control of operations and activities, the company is currently reviewing the gross-margin percentage of each of its products, using the estimated net realisable value (NRV) method for allocating joint costs. The company processes tomatoes in Department #1, out of which come three products: tomato sauce, tomato paste, and tomato puree. Processing 750,000 kg in Department #1 results in 50,000 kg of tomato sauce, 300,000 kg of tomato paste and 100,000 kg of tomato puree, and the costs in Department #1 are $500,000 in total. Tomato paste is sold without further processing. Tomato sauce is processed further through Department #2 and the costs are $50,000. Tomato puree is considered a by-product and is processed further through Department #3 and the costs are $50,000. Tomato sauce sells for $4 per kg. Tomato paste sells for $2 per kg. Tomato puree sells for $3 per kg.
Required
a) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce, tomato paste, and tomato puree, treating tomato puree as a by-product. Deduct the estimated NRV of the by-product produced from the joint cost of tomato sauce and tomato paste.
b) Calculate the gross-margin percentage of each product using unit costs per kilogram for tomato sauce, tomato paste, and tomato puree, treating all three as joint products.
In: Accounting
Ochre processes tomatoes into tomato sauce, tomato paste, and tomato puree. As part of the cost planning and cost control of operations and activities, the company is currently reviewing the gross-margin percentage of each of its products, using the estimated net realisable value (NRV) method for allocating joint costs. The company processes tomatoes in Department #1, out of which come three products: tomato sauce, tomato paste, and tomato puree. Processing 750,000 kg in Department #1 results in 50,000 kg of tomato sauce, 300,000 kg of tomato paste and 100,000 kg of tomato puree, and the costs in Department #1 are $500,000 in total.
Tomato paste is sold without further processing. Tomato sauce is processed further through Department #2 and the costs are $50,000. Tomato puree is considered a by-product and is processed further through Department #3 and the costs are $50,000. Tomato sauce sells for $4 per kg. Tomato paste sells for $2 per kg. Tomato puree sells for $3 per kg.
Required
In: Accounting
The Great Depression was ended in the United States by:
1)the government running budget surpluses throughout the
1930s.
2)the government increasing the money supply throughout the
1930s.
3)central planning of the economy by the government.
4)the huge amounts of government spending required to fight WWII
during the early 1940s.
The main difference between the classical model of the price level and the modern understanding of the relationship between the money supply, the price level, and real GDP is that according to classical economists, _____, while today's economists _____.
1)money is neutral in the long run; do not consider money to be
neutral in the long run.
2)the adjustment of prices takes some time; expect changes in the
money supply to be instantaneous.
3)did not consider money to be neutral in the long run; consider
money neutral in the long run.
4)the adjustment of prices to changes in the money supply is
instantaneous; argue that this adjustment process takes some
time.
The main idea behind monetarism is that:
1)the aggregate output will be even greater than potential
output if the money supply grows at a constant rate.
2)the aggregate price level will increase proportionally if the
money supply grows at a constant rate.
3)the government budget will have a deficit if the government
spending grows at a constant rate.
4)the aggregate output will grow steadily at a constant rate if the
money supply also grows at a constant rate.
In: Economics
Explain how the hypothesis below came up/was developed based on the initial observations (see below).
Hypothesis: The recombinant-based assay for HCV will detect HCV antibodies in blood samples of people with hepatitis C or who are carriers of HCV, but not in non-HCV individuals.
Initial Observations:
I. Hepatitis is a general category of liver diseases. Several different viral agents have been found to infect the liver and cause inflammation and damage.
II. In the 1940s, researchers identified two forms of viral hepatitis. Infectious hepatitis, or hepatitis A, is transmitted by contact with feces from infected individuals. Serum hepatitis, or hepatitis B, is transmitted through the blood and other body fluids. The hepatitis B virus was isolated in the 1960s and the hepatitis A virus was isolated in the 1970s.
III. Following the isolation of these two viruses, assays were developed in order to identify individuals infected with hepatitis A or hepatitis B viruses.
IV. A form of hepatitis occurs in patients that test negative for hepatitis A or B. This form of hepatitis, initially called non-A, non-B hepatitis (NANBH) but now referred to as hepatitis C, represented greater than 90% of transfusion-associated hepatitis.
V. Hepatitis C causes chronic disease which can lead to cirrhosis of the liver and liver cancer.
VI. A recombinant-based assay for the hepatitis C virus (HCV) has been developed, using RNA isolated from the hepatitis C virus.
In: Anatomy and Physiology
In: Economics
In: Economics
1.A materials requisition in a job-order cost system is used as a
a) A source document for assigning costs to individual departments.
b)A subsidiary account for recording the materials used on each job.
c)Request form for getting the necessary materials from the materials store room.
d)A means of ordering materials from outside suppliers.
2.in a job-order cost system, the subsidiary accounts for the Work in Process Inventory account are the:
a)Standard cost cards.
b)Job cost sheets.
c)Individual accounts payable accounts.
d)Cost of production report.
3.An example of a product or service that would most likely be accounted for using a process cost system would be:
a)Vitamin manufacturer.
b)Printing services.
c)Manufacturer of motor homes.
d)auto repair services.
4)A process cost system would be appropriate for all of the following except:
a)Production of gasoline.
b)Manufacture of smart phones.
c)Services provided by public accounting firm.
d)Manufacture of granola bars.
5)In which of the following industries would a job-order cost system most likely be used?
a)Oil refinery
b)Small appliances manufacturer
c)Construction of cell towers
d)Beverage manufacturer
In: Accounting