5) Information about Clearwater Company's direct materials cost follows: Standard price per materials ounce $ 100 Actual quantity used 8,700 grams Standard quantity allowed for production 9,100 grams Price variance $ 76,125 F ________________________________________ Required: What was the actual purchase price per gram? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Actual purchase price $ (0%) P16-43 Direct Materials (L.O. 5) Information about Clearwater Company's direct materials cost follows: Standard price per materials ounce $ 100 Actual quantity used 8,700 grams Standard quantity allowed for production 9,100 grams Price variance $ 76,125 F ________________________________________ Required: What was the actual purchase price per gram?
Calculate the PAYG instalment income for the quarter. FBT rate varied Variation of FBT Fringe benefits ATO instalment preprinted on BAS 19 F1 2 400 Estimated total fringe benefits tax payable for year Varied fringe benefits tax instalment amount Transfer the amount at F3 to 6A on the BAS Summary F2 F3 F4 12 000 3 000 30 Reason for variation PAYG rate varied PAYG income tax instalment For the QUARTER from 1 Oct 20XX to 31 Dec 20XX Option 2: Calculate PAYG instalment using income times rate PAYG instalment income T1 $ 5 5.61 4 5 % 6
[ (Mark, A. et al, 1987) ] [ 3 ]. [ (Jones, S. & Shelley, R., 2009) ] [ 4 ]. [ (Sunset Scavenger Company v. Commissioner 84, 1936) ] [ 5 ]. [ (Section 501, 2010) ] [ 6 ]. [ (IRC Section 4958, 2010) ] [ 7 ].
Margin of Safety (DOLLARS) Budgeted – break even = 100,000-62500= 37500 (Percentage) 37.500/100.000= 37.5% (Units) 37500/250= 150 3.Compute the company’s margin of safety in units assuming the proposal is accepted. Margin of Safety (Dollars) 137500-58929= 78571 (Units) 78571/275= 286 4. Compute the increase or decrease in profit assuming the proposal is accepted, show the contribution Income Statement for current and proposed. Present Proposed Sales 100,000 137500 Variable expense 64000 80000 CM 36000 57500 Fixed cost 22500 244750 Net income 13500 32750 difference: 19250 4a. What is the operating leverage for the current and proposed?
| | | | | * Question 4 2 out of 2 points | | | Using the data below, determine the amount of consumer surplus, if any, in the market. The market clearing price for matinee tickets is $3 | Matinee TicketsWilling to Pay(WTP) | Tony | $1 | George | $2 | Deshon | $3 | Mario | $4 | Antonio | $5 | Brittney | $6 | | | | | | Selected Answer: | $6 | | | | | * Question 5 2 out of 2 points | | | Examine the graph below. The government has placed a $200 tariff on product z. The new equilibrium price is $600. What has happened to consumer surplus?
Groetzinger, 480 U.S. 23 (1987). Retrieved September 25, 2010 from http://supreme.justia.com/us/480/23/” “Internal Revenue Code Section 165(d). Retrieved September 25, 2010 from http://www.taxalmanac.org/index.php/Sec._165” “McClanahan v. United States, 292 F2d 630, 631-32 (5th Cir 1961). Retrieved September 25, 2010 from http://www.publications.ojd.state.or.us/TCMD060008D.htm” “Section 62(a)(1). Retrieved September 25, 2010 from http://www.law.cornell.edu/uscode/26/usc_sec_26_00000062----000-.html” “Section 162(a).
FV = PV x (1+r)5; $100,000 = $65,000 x (1=r)5; 1.53846 = (1+r)5; (1.53846) 1/5 = 1+r; 1.08998 = 1+r; annual rate = 8.998$ 13. PV of Annjuity = Payment x [1-(1+r)-5]/r; $33,520 = $10,000 x [1-(1+r)-5]/r Period 9nper0 = 5; Payment = $10,000; Present Value (PV) = $33,250; Future Value (FV) = $0; Rate of Return =
2010 Current Asset = 145,089 2010 Current Liabilities = 89,435 2011 Current Ratio = 147,800 / 90,283 = 1.637 = 1.64:1 2010 Current Ratio = 145,089 / 89,435 = 1.622 = 1.62:1 Acid-test or quick ratio (Deduct the Prepaid expense & supplies from current asset) 2011 Current Asset is 147,800 minus 2011 Prepaid Expenses & Supplies is 6,267 = 141,533 2011 Current Liabilities = 90,283 2010 Current Asset is 145,089 minus 2010 Prepaid Expenses & Supplies is 5,529 = 139,560 2010 Current Liabilities = 89,435 2011 Acid-test or quick ratio = 141,533 / 90,283 = 1.56 = 1.6 2010 Acid-test or quick ratio = 139,560 / 89,435 = 1.56 = 1.6 Inventory turnover 2011 Revenue = 1,109,295 2011 Operating Income from Continuing Operations = $94,520 2010 Revenue = 969,240 2010 Operating Income from Continuing Operations = $89,199 2011 Inventory turnover = 1,109,295/94,520 = 11.74 2010 Inventory turnover = 969,240/89,199 = 10.87 Profitability Ratios Profit Margin 2010 Net Income= $55,508 2010 Total Operating Expenses= $880,041 2011 Net Income= $59,167 2011 Total Operating Expenses= $1,014,775 2010 Profit Margin = $55,508/$880,041= 6.3% 2011 Profit Margin = $59,167/$1,014,775= 5.8% Return on Stockholders’
Liabilities and Capital Amounts Percent of net sales Total Liabilities and Capital 2,675,250 100.0 Accounts Payable 96,500 3.6 Sale Tax Payable 3,950 0.14 Payroll Tax Payable 15,840 0.59 Accrued Wages Payable 0 — Unearned Revenue 0 — Short-Term Notes Payable 0 — Short-Terms Loan Payable 0 — Total Current Liabilities 116,290 4.3 Long Term Notes Payable 630,000 23.5 Total Long Term Abilities 630,000 23.5 Total Liabilities 746,290 27.9 Owner Equity 746,290 27.9 Net Profit 1,182,670 44.2 Total capital 1,928,960 72.1 Vertical Analysis of Income Statement Revenue: Gross Sales 10,804,000 1.0 Less: Sales Returns and Allowances 7,800 7.2 Net Sales 10,796,200 100.0 Assets Amounts Percent of net sales Cost of Goods Sold: Beginning Inventory 467,890 4.3 Add: Purchases 3,752,891 34.8 Freight In 165,010 1.5 Direct Labor 3,769,591 34.9 Indirect Expenses 748,539 6.9 Less: Ending Inventory 429,090 4.0 Cost of Goods Sold 8,474,831 78.5 Gross Profit 2,321,369 21.5 Expenses: Advertising 263,000 2.4 Amortization 2,700 2.5 Bad Debts 2,300 2.1 Bank Charges 19,258 .1 Charitable Contributions 5,000 4.6 Bonuses 65,000 .6 Systems & Network Contract 82,000
depreciation............... (152,000) 888,000 Equipment.................................................... 600,000 Less: Accum. depreciation............... (60,000) 540,000 Total property, plant, and equipment.......................................... 1,688,000 Intangible assets Franchise.................................................................. 160,000 Patent.............................................................. 195,000 Total intangible assets....................... 355,000 Total assets.......................................... $3,976,000