Pro Formas can be structured in many different formats; however, they all help forecast a company’s financial feasibility, breakeven, and profitability. How do you envision this knowledge and skill with pro formas will give you an advantage over other job candidates?

Answers

Answer 1

Answer:

Answer:

Pro Forma is a financial statement that facilitates comparison of historic data and projections of future predictions.

Explanation:

Pro Forma have different formats but they all do the same thing. They help forecast a company's financial feasibility, break even, and profitability. According to the present situations assumptions about the financial and operating characteristics can be identified.

The results can be assembled in profit and loss projections. Advantage over job candidates is that the past record can be taken into account.

Answer 2

Answer:

Answer:

How do you envision this knowledge and skill with pro formas will give you an advantage over other job candidates?

Explanation:

If you know about proformas, you are a specialist in companies that issue a profit announcement and make it available to the public, particularly to potential investors. Additionally, you are able to assess the potential value of a proposed change, such as an acquisition or a merger

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Given the following data, calculate the Total Variable Cost variance. Planning Budget Actual Results Revenue $73,000 $75,000 Variable costs $23,000 $20,000 Contribution margin $50,000 $55,000 Fixed costs $15,000 $10,000 Profit before taxes $35,000 $45,000 a. $3,000 Favorable b. $3,000 Unfavorable c. $5,000 Favorable d. $5,000 Unfavorable e. $2,000 Unfavorable f. $2,000 Favorable

Answers

Answer:

a. $3,000 Favorable

Explanation:

Variable cost variance is the difference between the budgeted variable cost and actual variable cost for a period.

Use following formula to claculate the variable cost variance

Variable cost variance = Budgeted Variable cost - Actual variable cost

Placing values in the formula

Variable cost variance = Budgeted Variable cost - Actual variable cost

Variable cost variance = $23,000 - $20,000

Variable cost variance = $3,000

As the actual cost is less than the budgeted cost, so the $3,000 is saved in respect of variable cost.

TB MC Qu. 3-209 Chavez Corporation reported the ... Chavez Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $ 41,000 $ 37,000 Work in process $ 23,000 $ 31,000 Finished goods $ 39,000 $ 54,000 Additional information: Raw materials purchases $ 73,000 Direct labor cost $ 98,000 Manufacturing overhead cost incurred $ 66,000 Indirect materials included in manufacturing overhead cost incurred $ 10,800 Manufacturing overhead cost applied to Work in Process $ 65,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for July is:

Answers

Answer:

The cost of goods manufactured for July is $ 232,000

Explanation:

Raw Materials Inventories Utilized In Production

Beginning Raw materials $ 41,000

Add Purchases $ 73,000

Less Ending Raw materials ($ 37,000)

Used in Production $ 77,000

Cost of goods manufactured

Raw Materials $ 77,000

Direct labor cost $ 98,000

Manufacturing overhead $ 65,000

Total Cost of Manufacturing $ 240,000

Add Opening Work in process $ 23,000

Less Ending Work in process ($ 31,000)

Cost of goods manufactured $ 232,000

Not that Manufacturing overhead are included to the amount Applied in the Manufacturing Cost

Farmer and Taylor formed a partnership with capital contributions of $200,000 and $250,000, respectively. Their partnership agreement calls for Farmer to receive a $70,000 per year salary. The remaining income or loss is to be divided equally. If the net income for the current year is $135,000, then Farmer and Taylor's respective shares are:

Answers

Answer:

Farmer and Taylor's respective shares are $102,500 and $32,500

Explanation:

For computing their respective shares, first we have to calculate the remaining income of each partner is shown below:

Remaining income = Net income - received amount

= $135,000 - $70,000

= $65,000

It will be divided equally in 1:1 ratio

So, the remaining income would be

Farmer = $32,500

Taylor = $32,500

Now, Their shares would be

Farmer = Salary received + his share of income

= $70,000 + $32,500

= $102,500

And, for Taylor it would be $32,500

A bond with an annual coupon rate of 7.2% sells for $988.22. What is the bond’s current yield? (Round your answer to 2 decimal places.)

Answers

Answer:

7.29%

Explanation:

The computation of the current yield of the bond is shown below;

Current yield is

= (Par value × annual coupon rate) ÷ Selling price of the bond

= ($1,000 × 7.2%) ÷ $988.22

= $72 ÷ $988.22

= 7.29%

Hence, the bond current yield is 7.29%

This is to be computed by applying the above formula so that the current bond yield could arrive

An asset for drilling was purchased and placed in service by a petroleum production company. Its cost basis is $60,000,and it has an estimated MV of $12,000 at the end of an estimated useful life of 14 years. Compute the depreciationamount in the thirdyear and the BV at the end of the fifth year of life by each of these methods:

Answers

Answer:

straight line depreciation:

depreciation expense per year, the same for every year = ($60,000 - $12,000) / 14 = $3,428.57

book value end of year 1 = $56,571.43

book value end of year 2 = $53,142.86

book value end of year 3 = $49,714.29

book value end of year 4 = $46,285.72

book value end of year 5 = $42,857.15

double declining balance:

deprecation expense year 1 = 2 x 1/14 x $60,000 = $8,571.43

book value end of year 1 = $51,428.57

deprecation expense year 2 = 2 x 1/14 x $51,428.57 = $7,346.94

book value end of year 2 = $44,081.63

deprecation expense year 3 = 2 x 1/14 x $44,081.63 = $6,297.38

book value end of year 3 = $37,784.25

deprecation expense year 4 = 2 x 1/14 x $37,784.25 = $5,397.75

book value end of year 4 = $32,386.50

deprecation expense year 5 = 2 x 1/14 x $32,386.50 = $4,626.64

book value end of year 5 = $27,759.86

sum of digits:

depreciable value = $60,000 - $12,000 = $48,000

total sum of digits = 120 years

deprecation expense year 1 = $48,000 x 15/120 = $6,000

book value end of year 1 = $54,000

deprecation expense year 2 = $48,000 x 14/120 = $5,600

book value end of year 2 = $48,400

deprecation expense year 3 = $48,000 x 13/120 = $5,200

book value end of year 3 = $43,200

deprecation expense year 4 = $48,000 x 12/120 = $4,800

book value end of year 4 = $38,400

deprecation expense year 5 = $48,000 x 11/120 = $4,400

book value end of year 5 = $34,000

One year ago, the Jenkins Family Fun Center deposited $3,800 into an investment account for the purpose of buying new equipment four years from today. Today, they are adding another $5,600 to this account. They plan on making a final deposit of $7,800 to the account next year. How much will be available when they are ready to buy the equipment, assuming they earn a rate of return of 6 percent

Answers

Answer:

around 16k

Explanation:

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