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The TS Corporation has budgeted sales for the year as follows: Quarter 1 2 3 4 |
What is scheduled production for third quarter?
In: Accounting
A ball is shot vertically into the air at a velocity of 193.2 ft/sec. After 4 seconds, another ball is shot vertically into the air. What initial velocity must the 2nd ball have in order to meet the first ball 386.4ft from the ground? (Hint: free falling bodies)
In: Physics
Problem 1
Master Budget The results of operations for the Preston Manufacturing Company for the fourth quarter of 2017 were as follows:
Sales $550,000
Less Variable cost of sales 330,000
Contribution Margin 220,000
Less fixed production costs $120,000
Less fixed selling and administrative exp 55,000 175,000
Income before taxes 45,000
Less taxes on income 18,000
Net income $27,000
The company’s balance sheet as of the end of the fourth quarter of 2017 was as follows:
Assets:
Cash $160,000
Accounts receivable 220,000
Inventory 385,000
Total current assets 765,000
Property, plant, and equipment 440,000
Less accumulated depreciation 110,000
Total Assets $1,095,000
Liabilities and owners’ equity
Accounts Payable $66,000
Common Stock 540,000
Retained Stock 489,000
Total liabilities and owners’ equity $1,095,000
Additional information
1. Sales and variable costs of sales are expected to increase by 12 percent in the next quarter.
2. All sales are on credit with 60 percent collected in the quarter of sales and 40 percent collected in the following quarter.
3. Variable costs of sales consist of 40 percent materials. 40 percent direct labor, and 20 percent variable overhead. Materials are purchased on credit. Fifty percent are paid for in the quarter of purchase, and the remaining amount is paid in the quarter after purchase. The inventory balance is not expected to change. Also, direct labor and variable overhead costs are paid in the quarter the expenses are incurred.
4. Fixed production costs( other than $9,000 of depreciation expense) are expected to increase by 3 percent. Fixed production costs requiring payment are paid in the quarter they are incurred.
5. Fixed selling and administrative costs( other than $7,000 of depreciation expense) are expected to increase by 2 percent. Fixed selling and administrative costs requiring payment are paid in the quarter they are incurred.
6. The tax rate is expected to be 40 percent. All taxes are paid in the quarter they incurred.
7. No purchase of property, plant, or equipment are expected in the first quarter of 2018.
Required
A. Prepare a budgeted income statement for the first quarter of 2018
B. Prepare a cash budget for the first quarter of 2018.
C. Prepare a budgeted balance sheet as of the end of the first quarter of 2018.
In: Accounting
Sample grade point averages for ten male students and ten female students are listed. Find the coefficient of variation for each of the two data sets. Then compare the results. Males 2.6 3.8 3.9 3.8 2.7 2.6 3.4 3.5 3.8 1.8 Females 2.7 3.9 2.2 3.8 3.5 4.1 2.1 3.8 3.9 2.5 The coefficient of variation for males is nothing%. (Round to one decimal place as needed.)
In: Statistics and Probability
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Two grams of musk oil are required for each bottle of Mink Caress, a very popular perfume made by a small company in western Siberia. The cost of the musk oil is $1.80 per gram. Budgeted production of Mink Caress is given below by quarters for Year 2 and for the first quarter of Year 3: |
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Year 2 |
Year 3 |
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| First | Second | Third | Fourth | First | |||
| Budgeted production, in bottles | 80,000 | 110,000 | 170,000 | 120,000 | 90,000 | ||
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Musk oil has become so popular as a perfume ingredient that it has become necessary to carry large inventories as a precaution against stock-outs. For this reason, the inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter’s production needs. Some 32,000 grams of musk oil will be on hand to start the first quarter of Year 2. |
| Required: |
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Prepare a direct materials budget for musk oil, by quarter and in total, for Year 2. (Round "Unit cost of raw materials" answers to 2 decimal places.) What is the desired units of ending raw materials inventory for each quarter? |
In: Accounting
A mortgage of $100,000 is amortized over 25 years using level payments at the end of each quarter and the first interest payment at the end of the first quarter is $2411.37. Calculate the 62nd principal payment amount.
a. 1074.21
b. 1048.92
c. 1100.11
d. 1024.22
e. None of these answers
In: Accounting
A colleague of yours is struggling to handle change requests throughout their project life cycle, and now his project is falling apart. He has come to you for advice on best practices.
In: Operations Management
A _______________ is a graphical representation of how much of a good or service households will want to buy at different prices. A _______________ is a graphical representation of how much of a good or service a firm is willing to sell at some specific price. The intersection of the demand and supply curve is called _______________. This is where the quantity demanded is equalto the quantity supplied. There is a _______________ of a good or service when the quantity supplied exceeds the quantity demanded. This occurs when the price is above its equilibrium level. There is a _______________ of a good or service when the quantity demanded exceeds the quantity supplied. This occurs when the price is below its equilibrium level.Two goods are _______________ if a increase in the price of one of the goods leads to an increases in the demand for the other good. Two goods are _______________ if an_______________ in the price of one of the goods leads to a _______________ in the demand for the other good. When an increase in income increases the demand for a good, the good is called a _______________ good. When an increase in income decreases the demand for a good, the good is called a _______________ good._______________ are legal restrictions on how high or how low a market price may go for a good. A ______________ is the maximum price sellers are allowed to charge for a good or service. A ______________ is the minimum price buyers are required to pay for a good or service.A _______________ is a market in which goods or services are bought and sold illegally either because it is illegal to sell them or because the prices charged are legally prohibited by a price ceiling.A _______________ is an upper limit on the quantity of some good that can be bought or sold. A _______________ gives its owner the right to supply a good._______________is the total value of all final goods and services produced in the economy during a given year._______________is a way to calculate the total spending on domestically produced final goods and services in the economy by adding together consumer spending, investment spending, government purchases of goods and services, and exports minus imports (C+I+G+X-IM)._______________ are goods and services sold to the end user. _______________ are goods and services that are inputs for production of final goods and services.
In: Economics
Leaf Industries is preparing its master budget for 2013. Relevant data pertaining to its sales budget are as follows:
Sales for the year are expected to total 8,000,000 units. Quarterly sales are 25%, 30%, 15%, and 30%, respectively. The sales price is expected to be $2.00 per unit for the first quarter and then be increased to $2.20 per unit in the second quarter.
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1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
Total for Yr |
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Unit Sales |
8,000,000 |
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Unit Selling Price |
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Total Sales |
In: Accounting
What's the connection between cost of living and inflation? Which categories of spending are more important to individual consumers?
Do you think inflation affect people among different income scale differently? i.e. do poor people suffer more from inflation, or rich people?
For you spending every month, which categories do you spend the most of the money? Which items in your monthly spending have you seen inflation?
In: Economics