Questions
Classify Manufacturing Costs (9 marks) A Car Company had the following costs during January 2020 a)...

Classify Manufacturing Costs
A Car Company had the following costs during January 2020
a) Classify each cost as either Direct Material (DM), Direct Labour (DL), Indirect Materials (IM), Indirect (Labour), Manufacturing Overhead (MOH) or period cost. Calculate the total for each type of cost.
• Manufacturing Workers Wages​​​​$125,000 = DL
• Plant utilities​​​​​​$7,000 = MOH
• Office utilities​​​​​​$550 = PC
• Plant/Manufacturing equipment depreciation​​$15,000 = MOH
• Depreciation of Office Equipment​​​$1,800 = PC
• Manufacturing Supplies​​​​​$3,500 = DM
• Engine parts​​​​​​$180,000 = DM
• Factory Janitor Wages​​​​​$18,000 = MOH
• Property taxes on Manufacturing facility​​​$4,500 = MOH
• Property taxes on Office building​​​$500 = PC
• Office Workers Salaries​​​​​$45,000 = PC
b) Calculate total Manufacturing overhead costs
= 7000+15000+4500= 26500
c) Calculate total Inventoriable costs
d) Calculate total prime costs
e) Calculate total conversion costs (1 mark)
f) Calculate total period costs

In: Accounting

Define what is meant by rationing of health care. In what age-based population is health care...

Define what is meant by rationing of health care. In what age-based population is health care rationing most likely to occur? How might this be done? (Give two examples, and provide references as appropriate.) (200 words only)

In: Nursing

The primary goal of most businesses is profit maximization. Discuss the concept of profit maximization. How...

The primary goal of most businesses is profit maximization. Discuss the concept of profit maximization. How can it be reconciled with corporate social responsibility? Can profit maximization promote social welfare?

In: Finance

sketch a graph about the relation between Number of states N(E) and Energy E . and...

sketch a graph about the relation between Number of states N(E) and Energy E .

and explain the different between the empty states and the full states

In: Physics

Suppose, for a random sample selected from a normally distributed population, X^- =51.70 and s= 8.8...

Suppose, for a random sample selected from a normally distributed population, X^- =51.70 and s= 8.8

Round your answers to 2 decimal places.

a. Construct a 95% confidence interval for μ assuming n = 16.

.... to ....

b. Construct a 90% confidence interval for μ assuming n = 16.

.... to ....

Is the width of the 90% confidence interval smaller than the width of the 95% confidence interval calculated in part a?

Yes or No?

c. Find a 95% confidence interval for μ assuming n = 25.

to Is the width of the 95% confidence interval for μ with n = 25 smaller than the width of the 95% confidence interval for μ with n = 16 calculated in part a?

Yes or No?

In: Statistics and Probability

Crane Company manufactures two products called Alpha and Beta that sell for $135 and $95, respectively....

Crane Company manufactures two products called Alpha and Beta that sell for $135 and $95, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 105,000 units of each product. Its average cost per unit for each product at this level of activity are given below:
Direct materials 30, 18
Direct labor 23,16
Variable manufacturing overhead 10, 8
Traceable fixed manufacturing overhead 19, 21
Variable selling expenses 15, 11
Common fixed expenses 18, 13
Total cost per unit 115, 87
The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.
1. Assume that Cane normally produces and sells 43,000 Betas this year. What is the financial advantage or disadvantage of discontinuing the Beta product line?
2. Assume that Cane normally produces and sells 63,000 Betas and 83,000 Alphas per year. If Cane discontinues the Beta product line, its sales representatives could increase sales of Alpha by 18,000 units. What is the financial advantage or disadvantage the Beta product line?
3. Assume that Cane expects to produce and sell 83,000 Alphas during the current year. A supplier has offered to manufacture and deliver 83,000 Alphas to Cane for a price of $92 per unit. What is the financial advantage or disadvantage of buying 83,000 units from the supplier instead of making those units?
4. Assume that Cane expects to produce and sell 53,000 Alphas during the current year. A supplier has offered to manufacture and deliver 53,000 Alphas to Cane for a price of $92 per unit. What is the financial advantage or disadvantage of buying 53,000 units from the supplier instead of making those units?

In: Accounting

There are a number of statistics computed to measure the price level, such as the GDP...

There are a number of statistics computed to measure the price level, such as the GDP deflator and the CPI. The choice of which of these measures to use depends in many cases on the specific question in which you are interested. For each of the following situations, state whether the CPI or GDP deflator is a more appropriate measure to use and explain why. 1. (5 pts) The government is interested in whether increases in defense spending are affecting the price level. 2. (5 pts)An economic consulting firm is investigating the impact on the aggregate price level of more computers and electronic technology used in production.

In: Economics

need to Identify five (5) from signs/notices/advertisements that are posted for the public to view, which...

need to Identify five (5) from signs/notices/advertisements that are posted for the public to view, which pertain to an area of HR. These signs/notices can pertain to any of the areas of HR, which we covered thus far. Take photos of each sign/notice and provide a brief note as to what area of HR the sign/notice pertains to.

In: Economics

1.Using key terms, create a scenario where you can find a population, a sample, the parameter,...

1.Using key terms, create a scenario where you can find a population, a sample, the parameter, the statistic, a variable, and data. Post your scenario and provide a detailed description using the key terms. After reviewing the information, what did you learn about your target population?

2.define confidence interval and degree of confidence. provide one example of confidence interval and interpret the result?

In: Statistics and Probability

CASH CONVERSION CYCLE Parramore Corp has $12 million of sales, $2 million of inventories, $4 million...

CASH CONVERSION CYCLE

Parramore Corp has $12 million of sales, $2 million of inventories, $4 million of receivables, and $2 million of payables. Its cost of goods sold is 80% of sales, and it finances working capital with bank loans at an 9% rate. Assume 365 days in year for your calculations. Do not round intermediate steps.

What is Parramore's cash conversion cycle (CCC)? Do not round intermediate calculations. Round your answer to two decimal places.
________ days

If Parramore could lower its inventories and receivables by 11% each and increase its payables by 11%, all without affecting sales or cost of goods sold, what would be the new CCC? Do not round intermediate calculations. Round your answer to two decimal places.
________ days

How much cash would be freed up, if Parramore could lower its inventories and receivables by 11% each and increase its payables by 11%, all without affecting sales or cost of goods sold? Do not round intermediate calculations. Round your answer to the nearest cent. Write out your answer completely. For Example, 13.2 million should be entered as 13,200,000.
$ ________   

By how much would pretax profits change, if Parramore could lower its inventories and receivables by 11% each and increase its payables by 11%, all without affecting sales or cost of goods sold? Do not round intermediate calculations. Round your answer to the nearest cent. Write out your answer completely. For Example, 13.2 million should be entered as 13,200,000.
$ ________

2.

Click here to read the eBook: The Cash Conversion Cycle

RECEIVABLES INVESTMENT

Leyton Lumber Company has sales of $12 million per year, all on credit terms calling for payment within 30 days, and its accounts receivable are $2.4 million. Assume 365 days in year for your calculations.

What is Leyton's DSO? Round your answer to two decimal places.
________ days

What would DSO be if all customers paid on time? Round your answer to two decimal places.
________ days

How much capital would be released if Leyton could take actions that led to on-time payments? Round your answer to the nearest cent. Write out your answer completely. For Example, 13.2 million should be entered as 13,200,000.
$ ________

3.

Click here to read the eBook: Accounts Payable (Trade Credit)
Click here to read the eBook: Bank Loans
Problem Walk-ThroughProblem Walk-ThroughProblem Walk-ThroughProblem Walk-ThroughProblem Walk-Through

COST OF TRADE CREDIT AND BANK LOAN

Lancaster Lumber buys $8 million of materials (net of discounts) on terms of 3/5, net 35; and it currently pays on the 5th day and takes discounts. Lancaster plans to expand, which will require additional financing. Assume 365 days in year for your calculations.

If Lancaster decides to forgo discounts, how much additional credit could it obtain? Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest cent.
$ ________

What would be the nominal cost of that credit? Do not round intermediate calculations. Round your answer to two decimal places.
________ %

What would be the effective cost of that credit? Do not round intermediate calculations. Round your answer to two decimal places.
________ %

If the company could get the funds from a bank at a rate of 11%, interest paid monthly, based on a 365-day year, what would be the effective cost of the bank loan? Do not round intermediate calculations. Round your answer to two decimal places.
________ %

Should Lancaster use bank debt or additional trade credit?
_________________

4.

Click here to read the eBook: The Cash Conversion Cycle
Click here to read the eBook: Accounts Receivable

WORKING CAPITAL INVESTMENT

Pasha Corporation produces motorcycle batteries. Pasha turns out 1,100 batteries a day at a cost of $7 per battery for materials and labor. It takes the firm 24 days to convert raw materials into a battery. Pasha allows its customers 40 days in which to pay for the batteries, and the firm generally pays its suppliers in 30 days. Assume 365 days in year for your calculations.

What is the length of Pasha's cash conversion cycle? Round your answer to two decimal places.
________ days

At a steady state in which Pasha produces 1,100 batteries a day, what amount of working capital must it finance? Round your answer to the nearest dollar.
$ ________

By what amount could Pasha reduce its working capital financing needs if it was able to stretch its payables deferral period to 39 days? Round your answer to the nearest dollar.
$ ________


Pasha's management is trying to analyze the effect of a proposed new production process on its working capital investment. The new production process would allow Pasha to decrease its inventory conversion period to 15 days and to increase its daily production to 2,100 batteries. However, the new process would cause the cost of materials and labor to increase to $11. Assuming the change does not affect the average collection period (40 days) or the payables deferral period (30 days), what will be the length of its cash conversion cycle and its working capital financing requirement if the new production process is implemented? Round your answers to two decimal places.
Cash conversion cycle ________ days
Working capital financing $ ________

In: Finance

Answer all questions given. Answer them with 2 or more sentences. 1. What would happen to...


Answer all questions given. Answer them with 2 or more sentences.

1. What would happen to equilibrium price and quantity if there were a decrease in demand: (Circle one answer)
A. A decrease in both equilibrium price and quantity
B. A decrease in equilibrium price
C. A decrease in equilibrium quantity
D. Noneoftheabove
2. Define/ Explain Demand: (Short Answer)

3. Shortage can be defined as:

4. Define/ Explain Supply (Short Answer):

5. Define Price ceilings & Price floors (Short Answer):

6. Equilibrium Quantity can be defined as: (Circle one answer)
A. Price Mechanism
B. Quantity demanded equals quantity supplied
C. Quantity sold when quantity demanded equals quantity supplied
D. All of the above

7. What happens to quantity demanded when price is raised? (Short Answer)

8. Define/ Explain Surplus (Short Answer):

9. Equilibrium Price can be defined as: (Circle one answer)
A. Price Mechanism
B. Quantity demanded equals quantity supplied
C. Quality demanded equals quantity supplied
D. All of the above

10. Is the actual price or market price, always equal to the equilibrium price? Why? (Short Answer)

11. Explain the expectation of a consumer when entering a store, and give reason if a demand will occur or not (Short Answer):


In: Economics

Implement and complement the recursive code to compute the product of two positive integers, x and...

Implement and complement the recursive code to compute the product of two positive integers, x and y, using only addition and/or subtraction. The function will take as its arguments two integers to multiply together ( x x y ) and will return the product.

Hint: consider the following:

6 x 1 = 6
6 x 2 = 6 + (6 x 1)
6 x 3 = 6 + (6 x 2) = 6 + [6 + (6 x 1)] = 6 + 6 + 6

#include<iostream>
using namespace std;

// Implement this product recursive function.

int product(int x, int y)
{

}

int main()
{
int x = 40, y = 10;
cout << "product(" << x << ", " << y << ")=";
cout << product(x, y) << endl;
return 0;
}

In: Computer Science

Discuss the pros and cons of litigation in medical malpractice. Also comment on some of the...

Discuss the pros and cons of litigation in medical malpractice. Also comment on some of the readings which detailed areas of innovation such as legislation that allows doctors to apologize without the apology being used as admission of guilt.

In: Nursing

Solve y''-y'-2y=e^t using variation of parameters.

Solve y''-y'-2y=e^t using variation of parameters.

In: Advanced Math

Super Speed Motor Co. assembles motors of sport cars. It jobs costing system has two direct...

Super Speed Motor Co. assembles motors of sport cars. It jobs costing system has two direct cost categories (direct materials and direct labors) and one indirect cost pool ( manufacturing overhead allocated at a budgeted rate per machine hour.) The budgeted manufacturing overhead was $800,000 and the budgeted machine hours 200,000. The following data ( in thousands ) pertain to January 2020:

a) Direct materials and supplies purchased on account ………………………………… 22
b) Direct materials used ………………………………………………………………… 19
c) Indirect materials issued to various production departments …………………… … 2
d) Direct manufacturing labor paid…….………………………………………………. 20
e) Indirect manufacturing labor incurred by various departments …………………….. 8
f) Manufacturing overhead was incurred as follows:
Depreciation ……………………………………………………………………….. 2
Expired insurance …………………………………………………………………. 1
Miscellaneous manufacturing overhead ……………………………………….….. 4
g) Completed jobs and transferred to the warehouse………………………………….. 54
h) Credit sales ………………………………………………………………………… 63
i) Cost of goods sold …………………………………………………………………. 50
j) Used machine hours during January………….…………………………………… 4 hours

Required:
1. Prepare general journal entries to summarize January transactions.
2. As your final entry, dispose of the month end over or underallocated manufacturing overhead as a direct write off to Cost of Goods Sold.

In: Accounting