Business

For a certain item, the cost-minimizing order quantity obtained with the basic EOQ model is 350 units, and the total annual inventory (holding and order) cost is $1050. What is the inventory holding cost per unit per year for this item
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A machine costing $56,894 with a 6-year life and $51,236 depreciable cost was purchased January 1. Compute the yearly depreciation expense using straight-line depreciation. Round your answer to the nearest whole dollar.
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An overhead variance report includes which of the followings: _________a. Variable and fixed flexible budget costs b. Variable and fixed actual results c. Variable and fixed sales results d. Variable and fixed variances
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Indentify two causes, a part from a increase in income, of an increase in demand for a product
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Lemon company purchased 100 units for $20 each on January 31. It purchased 200 units for $30 each on February 28. It sold 200 units for $50 each from March 1 through December 31. If the company uses the first-in, first-out inventory costing method, what is the amount of Cost of Goods Sold on the income statement for the year ending December 31?A. $6,350.B. $4,350.C. $1,600.D. $4,750.
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Which of the following approaches for calculating the market value of a property involves estimating the dollar value associated with replacing the property new, as well as determining the loss in value due to physical, functional, and external obsolescence?a. income approach b. sales comparison approach c. cost approach d. Investment approach
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You purchased an automobile a year ago for $10,000. Its current market price is $6,000, and the expected market value one year from now is $4,000. If the interest rate is 10 percent, how much will it cost you to keep the car for an additional year (over and above operation and maintenance costs)
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How does the price range affect the elasticity of demand for a product?Demand for all goods is elastic if the price is low enough.Price range has little or no effect on elasticity of demand for a good.Demand for a good can be inelastic at a low price, but elastic at a high price.Demand for a good can be elastic at a low price but inelastic at a high price.
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Capital budgeting decisions ______. Multiple select question. involve an immediate cash outlay in order to obtain a future return are day-to-day decisions made by managers require little or no thought before being made require a great deal of analysis prior to acceptance
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Klear Manufacturing sells its plant with a cost of $1.2 million to Burt Company for $1.4 million and immediately leases it back for a 15-year term. The transaction does not meet the revenue recognition criteria under ASC Topic 606. At the inception of the sale and leaseback, Klear should debit cash and credita. notes payable.b. sales revenue.c. lease liability.d. the asset.
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A company specializes in manufacturing internal combustion engines. Recently, this company has decided to create a division for the flexible fuel field. During this time, Beto, the HR manager, has been reviewing and updating job descriptions. With the knowledge that a new division of jobs will be created, what would be the appropriate course of action for Beto to take next
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Q.1.1If the Owners Equity of a certain business is equal to R70 000 and the assets of thesame business are equal to R120 000, what would the total liabilities of thebusiness be?(a) 50 000(b)190 000;(c)70 000;(d)120 000
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Mahogany Inc. has an unfavorable total labor variance of $770 for the month of September. It had a favorable labor rate variance of $205. Determine the labor efficiency variance of Mahogany for the month of September. g
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How much increase in net worth (equity) would a market basis balance sheet show over a cost basis if Land was purchased for $1,000,000, is currently valued at $5,500,000 and capital gains taxes are 10%
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Jones Company issued $500,000 of 5%, 10-year bonds payable at a price of 92. The market interest rate on the date of issuance was 6%, and the bonds pay interest semiannually. The journal entry to record the first semiannual interest payment using the effective interest amortization method is:
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Atlanta Company, had an ROA of 6.5 percent, a profit margin of 11.50 percent, and sales $20 million. Calculate Atlanta's total assets. Show your calculation
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Shanghai Company sells glasses, fine china, and everyday dinnerware. It uses activity-based costing to determine the cost of the shipping and handling activity. The shipping and handling activity has an activity rate of $8 per pound. A box of glasses weighs 2 pounds, a box of fine china weighs 4 pounds, and a box of everyday dinnerware weighs 6 pounds. Round answers to the nearest whole dollar. a. Determine the shipping and handling activity for each product.Glasses $China $Everyday dinnerware $b. Determine the total shipping and receiving costs for the china if 3,500 boxes are shipped.$
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All the following statements are true about leadership EXCEPT Question 7 options: a) Leading in a multinational company is an even greater challenge than in a domestic one. b) Excellent leaders motivate their employees to achieve more than minimal organizational requirements. c) Leadership is influencing group members to achieve organizational goals. d) Companies can achieve success with or without good leaders.
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Fixed Overhead Spending and Volume Variances, Columnar and Formula Approaches. Branch Company provided the following information: Standard fixed overhead rate (SFOR) per direct labor hour $5.00 Actual fixed overhead $305,000 BFOH $300,000 Actual production in units 16,000 Standard hours allowed for actual units produced (SH) 64,000 Required:a. Calculate the fixed overhead spending and volume variances.b. Calculate the fixed overhead spending variance. c. Calculate the total fixed overhead variance.
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At a products liability trial, a critical issue is whether the temperature was below freezing on January 16. A local man who works for a civil engineering firm is also an avid amateur meteorologist. One of the man's weather detection instruments in his backyard records temperature by markings from a stylus on a round barograph. The man's record of the day in question indicates that it was unseasonably warm and that the temperature never fell lower than 48 degrees Fahrenheit, 16 degrees above the freezing mark. The plaintiff offers into evidence the man's barograph record of the temperature on January 16. Is the barograph record admissible
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Required information A bank reconciliation proves the accuracy of the depositor's and the bank's records. The bank statement balance is adjusted for items such as outstanding checks and unrecorded deposits made on or before the bank statement date but not reflected on the statement. The book balance is adjusted for items such as service charges, bank collections for the depositor, and interest earned on the account. The company's bank reconciliation at June 30 included interest earned in the amount of $150. Complete the necessary journal entry .
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Seth's Tax Services had the following accounts and account balances after adjusting entries. Assume all accounts have normal balances.Prepare the adjusted trial balance for Seth's Tax Services as of December 31, 2018.Cash $ ? Land 26,000Utilities Payable 150Accounts Payable 3,700Accumulated DepreciationEquipment 1,800Service Revenue 75,000Supplies Expense 1,100Dividends14,000Equipment $11,000Accounts Receivable 4,950Office Supplies 700Common Stock 22,600Utilities Expense 1,650Unearned Revenue 900Depreciation ExpenseEquipment 1,900Salaries Expense 5,600
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Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2015, an auction house sold a painting for a price of $1,080,000. Unfortunately for the previous owner, he had purchased it three years earlier at a price of $1,660,000.What was his annual rate of return on this painting? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
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Your company buys a computer system from IBM for $3 million and pays IBM $200,000 to install the computer system. The $3 million is on credit and your company pays $100,000 of interest on the loan in the current year. The acquisition cost of the computer system at the end of the current year will be
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