Presented below are the production data for the first six months of the year for the mixed costs incurred by Clayton Company. Month Cost Units January $5,260 4,100 February $5,000 4,000 March $6,810 5,520 April $9,900 9,000 May $5,900 4,960 June $7,390 6,510 Clayton Company uses the high-low method to analyze mixed costs. How would the cost function be stated
Answers
Answer:
Cost function = 1080 + 0.98x
Where x is the number of units
Explanation:
Using the high low method we calculate the variable element in a mixed cost.
The variable cost per unit can be calculated as,
Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest activity units - Lowest activity units)
The highest activity is in April with 9000 units and a cost of $9900 and the lowest activity is in February with 4000 units and a a cost of $5000.
Variable cost per unit = (9900 - 5000) / (9000 - 4000)
Variable cost per unit = $0.98 per unit
So, total fixed cost is = 9900 - (0.98 * 9000) = $1080
Cost function = 1080 + 0.98x
Where x is the number of units
Related Questions
An income statement shows Multiple Choice an organization's profitability over a period of time. a company's assets, liabilities, and equity. how much income each employee earned. how much income the CEO earns per year. a company's variable costs at a particular point in time.
Answers
Answer:
an organization's profitability over a period of time.
Explanation:
The income statement records a company's income and expenses in a financial year. It is used for determining if a company is earning a profit or a loss
The balance sheet records the company's assets, liabilities, and equity. A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity at a point in time.
Owners equity also known as the Statement of Changes in Owner's Equity is an example of a financial statement. It records the owners equity and changes to the owners equity during a financial year.
How does cash flow analysis help the management in decision making
Answers
Answer:
The cash-flow statement is one of the most important documents for making management decisions. While the company can look profitable based on standard accounting methods, the cash-flow statement tells managers whether the company has the cash to pay its bills over the short-term.
Sam owns 60 percent of the stock of Club Corporation. Unrelated individuals own the remaining 40 percent. For a stock redemption of Sam's stock to be treated as an exchange under the "substantially disproportionate" test, what percentage of Club stock must Sam own after the redemption
Answers
Answer: c. Any percentage less than 48 percent.
Explanation:
For a shareholder's distribution to be considered to be Substantially Disproportionate it needs to be the lesser of 2 criteria;
80% of their shares before the distribution50% of the total sharesSam owns 60% and 80% of that is;
= 80% * 60%
= 48%
Sam should own less than 48% after the redemption.
Suppose there is soda tax to curb obesity. What should a reduction in the soda tax do to the supply of sodas and to the equilibrium price and quantity? Can you show this graphically? Hint: assume that the soda tax is collected from the sellers
Answers
When the soda tax is reduced, the supply of sodas increases, and the equilibrium price and quantity increase. Graph is attached below.
When a soda tax is imposed, the cost of producing and selling sodas increases. As a result, the supply curve shifts upward and the equilibrium price and quantity decrease. If the tax is reduced, the cost of producing and selling sodas decreases, which will shift the supply curve downward.
The original supply curve is S1 and the original demand curve is D. The intersection of S1 and D gives the original equilibrium price and quantity of P1 and Q1, respectively.
When the soda tax is reduced, the supply curve shifts downward to S2. The new equilibrium point is at the intersection of S2 and D, which results in a higher quantity Q2 and a lower price P2 compared to the original equilibrium.
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Directions
1. Using the information learned in Unit 4, create a company, including the creation of a product or
service.
2. Next, create the advertising for that product or service to reach a target market. Advertising can
include a flyer, brochure, commercial, video, website, etc. Make sure you are advertising to a
target market.
3. Finally, explain how you will use the elements of a marketing mix. Remember if you create a
business that is an industry you need to use the 4P's (product, price, place, and promotion). If you
choose to create a service business, you need to use the 7P's (product, price, place, promotion,
people, process, and physical).
Question #1
Answers
Answer: et. Advertising can
include a flyer, brochure, commercial, video, website, etc. Make sure you are advertising to a
target market.
3. Finally, explain how you will use the elements of a marketing mix. Remember if you create a
business that is an industry you need to use the 4P's (product, price, place, and promotion). If you
choose to create a service business, you need to use the 7P's
Explanation:
Nami is very good at research, is skilled at developing instructional materials, and knows about libraries and
information systems. Which career would be best for Nami?
Teaching and Training
Professional Support Services
Administration
Educational Services
Answers
Answer:
B
Explanation:
In the prepare phase of your analysis, you described the data sources you used. According to the Case Study Roadmap, this description should include where the data is located and how it is organized. It should also consider issues with bias or credibility, problems with the data, and how you verified its integrity. Finally, your description should explain how the data helped you answer your questions. Take a moment to review your description now. What steps could you take to make it even more descriptive? 1 point
Answers
To make the description of the data sources in the prepare phase more descriptive, you can consider the following steps:
Specify the location of the dataDetail the organization of the dataAddress bias and credibilitySome steps to make the data sources more descriptiveSpecify the location of the data: Provide specific information about the sources of the data, such as the name of the database, website, or organization where the data was obtained. If applicable, mention any specific datasets or files used.
Detail the organization of the data: Describe how the data is structured or organized, whether it is in a tabular format, spreadsheets, databases, or any other specific format. Mention the variables or fields present in the data and how they are arranged.
Address bias and credibility issues: Discuss any potential biases or credibility concerns associated with the data sources. Consider the source's reputation, the methodology used to collect the data, and any known limitations or biases in the data collection process.
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During a recent week, Maya Schneiderman worked 42 regular hours. She earns $9.25/hour, is paid an overtime rate of 1.5 times her regular wage rate, and has requested that 3% of her gross pay be withheld and contributed to a 401(k) retirement plan. Maya's taxable pay for federal income tax withholding is
Answers
Answer:
$385.82
Explanation:
Maya's total earnings = (40 x $9.25) + (2 x $9.25 x 1.5) = $397.75
Contributions to her 401k retirement plan reduce her taxable income (they are above the line deductions. She will contribute $397.75 x 3% = $11.93.
Her taxable income for federal income tax withholding = $397.75 - $11.93 = $385.82.
The actual amount withheld will depend on Maya's W-4 form (includes information about filing status, dependents, other income, etc.)
Better managing a daily scheduler through effective time management can reduce stress on the job.
Answers
Answer:
Good time management is essential if you are to handle a heavy workload without excessive stress. Time management helps you to reduce long-term stress by giving you direction when you have too much work to do. It puts you in control of where you are going and helps you to increase your productivity
Answer:
it helps put your daily life at relief
Explanation:
Cost of goods sold for a manufacturer equals cost of goods manufactured plus a. beginning finished goods inventory less ending finished goods inventory b. beginning work in process inventory less ending work in process inventory c. ending work in process inventory less beginning work in process inventory d. ending finished goods inventory less beginning finished goods inventory
Answers
Answer:
a. beginning finished goods inventory less ending finished goods inventory
Explanation:
Cost of goods sold for a manufacturer equals cost of goods manufactured plus beginning finished goods inventory less ending finished goods inventory.
River Corp's total assets at the end of last year were $390,000 and its net income was $32,750. What was its return on total assets?a. 6.28%.b. 5.73%.c. 6.82%.d. 6.48%.e. 7.71%.
Answers
Answer:
8.40%
Explanation:
Total asset = $390,000
Net income = $32,750
Return on total asset = Net income / Total asset
Return on total asset = $32,750 / $390,000
Return on total asset = 0.083974358974359
Return on total asset = 8.40%
Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.
Answers
If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.
To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.
For MAC1: MAC1 = 100 - 10E
For MAC2: MAC2 = 50 - 10E
To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.
Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E
Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.
MD = Aggregate MAC
30E = 150 - 20E
Simplifying the equation, we get:
50E = 150
E = 3
Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.
Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.
Net social costs = Aggregate MAC - MD
Net social costs = (150 - 20(4)) - (30(4))
Net social costs = 110 - 120
Net social costs = -10
The net social costs of this policy would be -10, indicating a net benefit to society.
If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.
Setting MAC1 equal to MAC2:
100 - 10E = 50 - 10E
Simplifying the equation, we find that E can have any value, as both sides are equal.
Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.
In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.
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Broad ques: How does a company react to ethical dilemmas? Why businesses should act ethically? What happens if your business is sued over an ethical issue?
Answers
When faced with ethical dilemmas, company should take a thoughtful and deliberate approach to understand the situation and its impact on stakeholders.
What are stakeholders?Stakeholders are individuals, groups, or organizations that have an interest or concern in a particular business, project, or initiative. They can be internal or external to the organization and can include employees, customers, shareholders, suppliers, government agencies, local communities, and other parties that may be affected by the organization's activities. Stakeholders often have different perspectives, expectations, and goals, and may have conflicting interests or priorities. It is important for organizations to identify and engage with their stakeholders, understand their needs and concerns, and develop strategies to manage their expectations and build positive relationships. Effective stakeholder management can help organizations to achieve their objectives, mitigate risks, and enhance their reputation and legitimacy.
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QUESTION 11
Whether targeting consumers or resellers, marketers need to focus on:
O Buying center synergy.
O Corporate profit sharing
O Reducing derived demand
O Creating value for their customers
Answers
Marketers need to focus on creating value for their customers. The Option D.
Why is creating value for customers crucial for marketers?Creating value for customers is crucial for marketers as it directly impacts customer satisfaction and loyalty. When marketers prioritize creating value, they focus on understanding customer needs and preferences, developing products or services that meet those needs and delivering exceptional customer experiences.
By doing so, they differentiate themselves from competitors, build strong customer relationships and drive business growth. When customers perceive value in what a company offers, they are more likely to make repeat purchases.
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Question 10 of 20
When wili the U.S. Armed Forces provide financial aid?
A. Before, during, and after your service
OB. During and after your service
OC. Before and after your service
D. After you have served two years
Answers
The U.S. Armed Forces will provide financial aid during and after your service. The Option D is correct.
When will U.S. Armed Forces provide financial aid?The Forces offer financial aid during and after your service. This support is available to servicemembers throughout their military career and extends into their transition back to civilian life.
During service, the financial assistance may come in the form of various benefits including housing allowances, educational benefits such as the GI Bill and health care coverage. After completing their service, veterans may be eligible for additional financial aid programs like VA home loans, disability benefits etc.
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The state of Florida is known to produce oranges more than majority of the other states, so Florida has a(n) __________ in oranges.
Answers
Answer:70% production
Provide your answers to pick from please.
Explanation:
The state of Florida has a comparative advantage in oranges. A comparative advantage refers to a situation where a country or state can produce a specific good or service at a lower opportunity cost compared to other countries or states.
In the case of Florida, it means that the state can produce oranges more efficiently and effectively compared to other states, considering its climate, soil conditions, expertise in orange cultivation, and other factors. This advantage allows Florida to produce oranges at a lower cost, leading to higher production and exportation of oranges, making it a dominant player in the orange industry within the United States.
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[Total = 25marks]
QUESTION 2
a. Azon and Son Ltd acquired use of plant over three years by way of a lease. Installments of
GhC700,000, are paid six monthly in arrears on 30 June and 31 December. Delivery of the plant
was on 1 January 2010 so the first payments of GhC700,00 was on 30 June 2010. The present
value of minimum lease payments is GhC3,000,000, Interest implicit in the above is 10% per six
months. The plant would normally be expected to last three. Azon and Son is required to insure
the plant and cannot return it to the lessor without severe penalties.
Required
i. Describe whether the above lease should be classified as an operating or finance
1
Answers
A significant portion of the asset's economic life—three years—is covered by the lease period. The minimum lease payment present value is GhC3,000,000, which is essentially the entire leased asset's fair market value.
The equivalent of monthly rent, a lease payment is formally stipulated in a contract between two parties and gives one party the right to use the other party's real estate holdings, manufacturing equipment, computers, software, or other fixed assets for a predetermined period of time.
A lease payment will be shown as a right-of-use asset and lease liability on the balance sheet. The ROU asset is the ownership of the asset under the lease contract, whereas the lease liability period is the payment obligation during the course of the lease contract.
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In Fiscal Year, 20XX Hong Hah manufacturing company producing A product, had information on Inventories Account as follows:
Direct Materials, Begging balance 78.000
Work in process, Begging balance 150.000
Finished Goods, Begging balance 186.000
Work in process, Ending balance 90.000
Direct Materials, Ending balance 144.000
Finished Goods, Ending balance 204.000
During 20XX, the manufacturing cost was incurred as bellows:
(1). Raw materials
£ 318.000
(2) Direct labour
€ 456,000
(3) Manufacturing Overhead
+ Indirect material € 14.400
+ Indirect labour € 31.200
+ Depreciation on plant and equipment € 114.000
+ Utilities £ 32.400
+ Others € 36.000
Additional Information, In 20XX, Sales revenues was € 1,320,0000 for the year. Selling and administrative expenses for the year amounted to € 138,000.
The corporate income tax rate is 30%.
Required
1. Prepare Schedule of Cost of Goods Manufactured for the year 20XX
2. Prepare Schedule of Cost of Goods Sold for the year 20XX
3. Prepare Statement of Profit or Loss for the year 20XX
Answers
Calculate the Cost of Goods Manufactured:
Direct Materials Used:
Beginning Balance of Direct Materials + Purchases - Ending Balance of Direct Materials
= £78,000 + £318,000 - £144,000
= £252,000
Total Manufacturing Costs:
Direct Materials Used + Direct Labour + Manufacturing Overhead
= £252,000 + €456,000 + €14,400 + €31,200 + €114,000 + £32,400 + €36,000
= €987,800
Total Manufacturing Costs + Beginning Work in Process Inventory
= €987,800 + €150,000
= €1,137,800
Cost of Goods Manufactured:
Total Manufacturing Costs + Beginning Work in Process Inventory - Ending Work in Process Inventory
= €1,137,800 - €90,000
= €1,047,800
Calculate the Cost of Goods Sold:
Cost of Goods Available for Sale:
Beginning Finished Goods Inventory + Cost of Goods Manufactured
= €186,000 + €1,047,800
= €1,233,800
Cost of Goods Sold:
Cost of Goods Available for Sale - Ending Finished Goods Inventory
= €1,233,800 - €204,000
= €1,029,800
Prepare the Statement of Profit or Loss:
Sales Revenue: €1,320,000
Cost of Goods Sold: €1,029,800
Gross Profit: Sales Revenue - Cost of Goods Sold
= €1,320,000 - €1,029,800
= €290,200
Selling and Administrative Expenses: €138,000
Operating Profit: Gross Profit - Selling and Administrative Expenses
= €290,200 - €138,000
= €152,200
Corporate Income Tax: 30% of Operating Profit
= 0.30 * €152,200
= €45,660
Net Profit: Operating Profit - Corporate Income Tax
= €152,200 - €45,660
= €106,540
Now, let's summarize the results in the requested formats:
1. Schedule of Cost of Goods Manufactured for the year 20XX:
Direct Materials Used £252,000
Direct Labour €456,000
Manufacturing Overhead:
Indirect Material €14,400
Indirect Labour €31,200
Add: Cost of Goods Manufactured €1,047,800
Cost of Goods Available for Sale €1,233,800
Less: Ending Finished Goods Inventory €204,000
Cost of Goods Sold €1,029,800
2. Statement of Profit or Loss.
Schedule of Cost of Goods Sold for the year 20XX:
Beginning Finished Goods: £186,000
Add: Cost of Goods Manufactured: £1,133,600
Cost of Goods Available for Sale: £1,319,600
Less: Ending Finished Goods: £204,000
Cost of Goods Sold: £1,115,600
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Case Study
Sovrano Café is considering a major expansion of its business. The details of
the proposed expansion project are summarized below:
- The company will have to purchase $950,000 equipment, that require
installation cost and transportation cost equal $100,000.
- The project has an economic life of 5 years.
- The cost can be depreciated using straight line method.
- At t = 0, the project requires that working capital will increase by $200,000
- The project’s salvage value at the end of 5 years is expected to be $60,000.
- The company forecasts that the project will generate $725,000 in sales the
first 2 years and $650,000 in sales during the last 3 years
- Each year the project’s operating cost excluding depreciation is expected to
be 50% of sales revenue.
- The company’s tax rate is 40%
- The company already pays marketing expenses equal 80,000.
- The project’s cost of capital is 10%
What do you recommend?
Answers
Based on the analysis of the cash flows, the expansion project seems feasible as it has a positive NPV of $142,919.49, and a profitability index of 1.15, indicating that the project will generate value for Sovrano Café and its shareholders.
To arrive at this conclusion, we first calculated the cash flows for the project, which included the initial investment, operating cash flows, salvage value, and tax savings from depreciation. We then discounted these cash flows using the project's cost of capital to calculate the net present value (NPV) and profitability index (PI).
The NPV of $142,919.49 suggests that the project's expected cash inflows exceed its expected cash outflows, taking into account the time value of money. The PI of 1.15 further supports the conclusion that the project will generate value for the company, as a PI greater than 1 indicates that the present value of the project's expected cash inflows exceeds the present value of its expected cash outflows.
Therefore, based on the financial analysis, it is recommended that Sovrano Café move forward with the proposed expansion project.
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(5 points)
Willie's Hot Dogs had sales last year of $250,300 and a guest count of 76,079.
Sales this year were $280,750 with a guest count of 83,556.
What was Willie's guest count percentage variance?
Answers
Willie's guest count percentage variance is 9.82%.
How to calculate guest count percentageTo calculate the guest count percentage variance
Use the following formula:
Guest count percentage variance = [(current year guest count - prior year guest count) / prior year guest count] x 100%
Guest count percentage variance = [(83,556 - 76,079) / 76,079] x 100%
Guest count percentage variance = (7,477 / 76,079) x 100%
Guest count percentage variance = 0.0982 x 100%
Guest count percentage variance = 9.82%
Therefore, Willie's guest count percentage variance is 9.82%.
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What is a benefit of planning for your future career
Answers
The benefit of planning for your future career are:
helps the individual to be aware of various career opportunitieskeeps you motivatedensure that your plans reflect your prioritiesWhy is Career Planning Important for Success?Often, career planning outlines how you will get from Point A (where you are now) to Point B (where you want to be) (your ultimate career goal). You'll be able to identify which actions you need to take to get there if you have an end goal in mind.
Assessing job descriptions to see what you need to do to qualify for them, attending networking events to make new connections, and exploring different companies and industries to see if they're the right fit are examples of these actions.
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Which conclusion does this graph most support?
100
Product A
75
Demand
50
Product B
25
0
$10 $15 $20
Price
$25
A. Product A is closer to equilibrium price than product B.
B. Product B is closer to equilibrium price than product A.
C. Product A has more elastic demand than product B.
D. Product A has more inelastic demand than product B.
Answers
Answer:
C. Product A has more elastic demand than product B.
Explanation:
The graph plotted above shows the quantity demanded for 2 products in relation to their prices.
Looking at the graph, we visually conclude that product A is more responsive to a change in price, compared to how responsive product B is to a change in price.
Invariably, a change in the price of commodity A causes a greater change in the quantity demanded, compared to a change in quantity demanded for product B, with almost the same change in price.
Option C is the answer.
Answer:
The correct answer is
Product B has more inelastic demand than product A !!!!
Explanation:
Trust me its correct!
You choice answers may look different but if you have this one then its correct! I got it right
How many times did Donald trump declare bankruptcy
Answers
cite three real life situations where quadratic equations are illustrated. Formulate quadratic equations out of these situations then describe each.
Answers
Answer:
I want to know the sides of a pizza if the width is 9 inches larger than the height and the area is 250 squared inches.
My brother wants to know how long his bed is if it has an area of 2m and the width is .5m larger than the height.
My father wants to know whats the size of a football field if the area is 57,600 square feet given that the length is 200 ft larger than the width.
Explanation:
To solve this you just have to think on the unknown value and represent it as "X" in the first problem we do not know the length or width but we have a values given between them, so if "x" is the height then the width becomes "x+9" so those two values multiplied become the area.
\(x(x+9)=250\\x^{2} +9x=250\\x^{2} +9x-250=0\\\)
With this you just keep solving the others.
My brother wants to know how long his bed is if it has an area of 2m and the width is .5m larger than the height.
2m as an area and the height is "x"
\(x(x+-5)=2\\x^{2} +.5x=2\\x^{2} +.5x-2=0\\\)
My father wants to know whats the size of a football field if the area is 57,600 square feet given that the length is 200 ft larger than the width.
57,600 is the area and width will be "x"
\(x(x+200)=57,600\\x^{2} +200x=57,600\\x^{2} +200x-57,600=0\\\)
How do you choose the brainliest answer?
Answers
Suppose that the Federal Reserve Bank announces that it will be making a change to a key interest rate to increase the money supply. This is likely because
Group of answer choices
A.)the Federal Reserve Bank is worried about inflation.
B.)the Federal Reserve Bank is worried about unemployment.
C.)the Federal Reserve Bank is hoping to reduce the demand for goods and services.
D.)the Federal Reserve Bank is worried that the economy is growing too quickly.
Answers
Answer:
A.)the Federal Reserve Bank is worried about inflation.
Explanation:
Give me brainliest if that helped!
What is market environment
Answers
Answer:
The market environment is the combination of external and internal factors that affect a company's ability to establish a relationship with and serve its consumers.
Explanation:
The internal factors relate to the company itself, such as owners, workers, materials, components, etc.
The external factors are divided into macro and micro components. The macro component is the broad environment which includes societal forces that affect society as a whole. The micro component is task-related, which includes factors that influence the production, manufacturing and distribution of a product or service.
If increasing the number of goods produced is one way to increase
productivity, what is the other way to increase productivity?
Answers
Productivity refers to the measure of output per unit of input over a given period of time. A company’s productivity level is a crucial factor in determining its profitability. Productivity can be increased in different ways, including increasing the number of goods produced and reducing waste. These are the two ways to increase productivity. Therefore, the answer to the question is reducing waste.
Another way to increase productivity is to improve efficiency. Efficiency is a measure of how well inputs are converted into outputs. Improving efficiency means reducing the amount of time, effort, and resources needed to produce a certain output. A company can improve its efficiency in various ways, including using better technology, improving its production processes, and training employees to work more effectively. Increasing productivity is critical for the growth of any business. Productivity can be increased by implementing a wide range of strategies. Reducing waste is one way to increase productivity, while improving efficiency is another way. Both of these strategies help companies to achieve their goals by producing more goods in less time. In conclusion, companies need to explore ways to improve their productivity levels continually. This will help them to increase their profitability, grow their business, and remain competitive in the market.
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Question 6
Answer asap please
Answers
This résumé format focuses on the tasks or skills that an applicant can perform:
a.
Chronological
b.
Functional
c.
Electronic
d.
Scannable
Answers
The functional resume format focuses on the tasks or skills that an applicant can perform. Thus, option D is correct.
What is a resume?A resume can be defined as a document with suggestions that the details of a particular person, especially an applicant, are being mentioned. It usually defines the person's career information as well as some personal background. Also, if they have taken any courses or have had any experience, all of this is mentioned in a resume.
A functional resume can be defined as a resume whose purpose is to focus on the skills of a person. The primary focus is on the skill that a person processes.
Therefore, option D is the correct option.
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