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 $ 91.25 Total grade: 0.0×1/1 = 0% Feedback: Actual Costs = AP × 8,700 Actual Inputs at Standard Price = $100 × 8,700 =$870,000 Price Variance = $76,125 F 8,700 × AP = $870,000 – $76,125 AP = $91.25 ________________________________________ Question 3: Score
Credit Balance($) 0.01193 0.00129 9.25447 0.000 Summary of Model S = 8.40667 R-Sq = 64.08% R-Sq(adj) = 63.34% PRESS = 3613.50 R-Sq(pred) = 61.74% Analysis of Variance Source DF Seq SS Adj SS Adj MS F P Regression 1 6052.72 6052.72 6052.72 85.6452 0.000000 Credit Balance($) 1 6052.72 6052.72 6052.72 85.6452 0.000000 Error 48 3392.26 3392.26 70.67 Lack-of-Fit 47 3390.26 3390.26 72.13 36.0666 0.131532 Pure Error 1 2.00 2.00 2.00 Total 49 9444.98 Correlations: Income ($1000), Credit Balance($) Pearson correlation of Income ($1000) and Credit Balance($) = 0.801 P-Value = 0.000 To calculate the for the confidence levels at α=0.05 General Regression Analysis: Income ($1000) versus Credit Balance($) Regression Equation Income ($1000) = -3.51589 + 0.0119264 Credit Balance($) Coefficients Term Coef SE Coef T P Constant -3.51589 5.48309 -0.64123 0.524 Credit Balance($) 0.01193 0.00129 9.25447 0.000 Summary of Model S = 8.40667 R-Sq = 64.08% R-Sq(adj) =
Return on common stockholders’ equity $29,946,992 - (2430872-15801332) / 200,000 = 82.9% * Solvency ratios 9. Debt to total assets $7,628,563 / 34,825,498 = 22% 10. Times interest earned 3,272,314 / 121,533 = 26.9 Riordan Manufacturing, Inc. Horizontal Analysis for the Balance Sheet Increase or (Decrease) 2010($) 2009($) Amount % Assets Cash $2,807,029 $1,511,253 $1,295,776* 46.1%* Account Receivables $2,695,342 $2,644,307 $51,035 1.9% Current Portion of Note Receivable $102,976 $117,475 ($14,499) (14.1%) Inventory $8,517,203 $7,123,790 $1,393,413 16.4% Deferred Income Taxes – net $0 $0 $0 0% Pre-Paid Expenses and other Items $402,240 $458,875 ($56,635) (14.1%) Total Current Assets $14,524,790 $11,855,700 $2,669,090 18.4% Liabilities Current Liabilities Current Portion of Long-Term Debt $474,032 $484,894 ($10,862) (2.3%) Accounts Payable $1,391,385 $1,636,923 ($245,538) (17.6%) Accrued
264,000 / 25,000 hrs = $10.56 2650 hrs x 10.56 = $27,984 (d) Sum-of-the-years’-digits. n(n+1) = 10(11) = 55 10/55 x 264,000 x 1/3 = $16,000 9/55 x 264,000 x 2/3 = $28,800 Total = $44,800 (e) Double-declining-balance. 279,000 x 20% x 1/3 = $18,600 [279,000-(279,000x20%)] x 20% x 2/3 = $29,760 Total = $48,360 E11-9 (Composite Depreciation) Presented below is information related to Morrow Manufacturing Corporation. Machine | Cost | Estimated Salvage Value | Estimated Life (in years) | A | $40,500 | $5,500 | 10 | B | 33,600 | 4,800 | 9 | C | 36,000 | 3,600 | 8 | D | 19,000 | 1,500 | 7 | E | 23,500 | 2,500 | 6 | Instructions (a) Compute the rate of depreciation per year to be applied to the machines under the composite method. A: 40,500/10=4050 B: 33,600/9=3733 C: 36,000/8=4500 D: 19,000/7=2714 E: 23,500/6=3916 Total Straight-line depreciation = $18,913 Total Cost = $152,600 Depreciation Rate = 18,913/152,600 = 12.4% (b) Prepare the adjusting entry necessary at the end of the year to record depreciation for the year.
This can be displayed on a time line: | | | | | $P | $400,000 | | | | | | 0 | 90 | 180 | 270 | | | | | | | | | P | = | price | = | unknown | | S | = | Maturity value | = | $400,000 | | r | = | Simple interest rate (decimal) | = | 9.16 | 100 | | = | 0.0916 | | t | = | Time period (years) | = | 90 | 365 | | = | 0.24657534... years. | | The step-by-step calculation is: P | = | S(1 + rt)-1 | | = | 400,000(1 + 0.0916 x 0.24657534...)-1 | | = | 400,000 x 0.97791257...
What has happened to consumer surplus? | | | | | Selected Answer: | It has decreased. | | | | | * Question 6 0 out of 2 points | | | Examine the graph below. If the equilibrium price is P2, then producer surplus | | | | | Selected Answer: | can be determined by the area of the triangle abP2. | | | | | * Question 7 2 out of 2 points | | | Examine the graph below.
Ensure you state where a particular assumption is used in your proof. (600 points) [pic] Given the two IC Curves, Point A on IC1 is northeast of IC2’s Point B implying that IC1 is has a higher utility than IC2. On IC2, Point D is northeast to IC1’s Point C implying that IC2 is the IC curve with the higher utility, which creates a logical inconsistency. This would break the assumption rule that every consumption basket lies on one and only one indifference curve. It would also break the transitivity assumption.
q1= (100-(10-3))/3=31 q2= 30 Q=31+30=61 Market Price=100-30-31=39 Firm’s one profit= 31*39-31*7=992 Firm’s two profit=30*39-30*10=870 c. Compare consumer surplus from parts a and b. Do consumers fare better with or without the subsidy? (Remember that consumer surplus is calculated from market quantity and market price.) The consumer surplus is bigger with subsidiary because they get more quantity with lower price while without subsidiary consumer’s surplus become smaller as they get less quantity with higher price. Chapter 11 6.
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
| Variable cost/ unit | Total Fixed cost | Total cost | Total cost/unit | Direct Materials | =450-300 600-400=0.75 | - | =375 | =0.75 | Direct Labour | =750-500 600-400=1.25 | - | =625 | =1.25 | Indirect Labour | = 220-180 600-400=0.2 | =180- (0.2×400)=100 | =200 | =0.4 | Indirect Materials | - | =300 | =300 | =0.6 | Electriciy | =135-115 600-400=0.1 | =115-(0.1×400)=75 | =125 | =0.25 | Factory Insurance | - | =125 | =125 | =0.25 | Other Overhead | =410-310 600-400=0.5 | =310-(0.5×400)=110 | =360 | =0.72 | Total | =2.8 | =710 | =2110 | =4.22 | b. Work out the detail on how Lee High put together his ‘useful data on Great Heath’ and the standardized cost information based on 500 units per week. Manufacturing cost 4.22 Administration cost Variable cost (commission) (7×10%) 0.7 Fixed cost (781/500) 1.56 2.26 6.48 Funny error 0.12 Total cost/ unit 6.60 The cost of goods sold per unit tended to fall when the sales increased because of the characteristic of the fixed costs. Fixed costs remained constant over wide ranges of activity for a specified time period. They were not affected by changes in activity.