BUSINESS COLLEGE

Pearl Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for a lump-sum price of $784,000. At the time of purchase, Torres’s assets had the following book and appraisal values. Book Values Appraisal Values Land $224,000 $168,000 Buildings 280,000 392,000 Equipment 336,000 336,000

Answers

Answer 1
Answer:

Answer:

$262500

Explanation:

Please see attachment .

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Trade-offs must be made among space, labor, and ____ with respect to warehousing design. Group of answer choices Construction materials Speed Mechanization Cost

Answers

Answer:

Mechanization

Explanation:

When a ware house is being setup, the aim is to get an efficient one that can service demand in a timely manner.

In order to minimise cost and maximise efficiency there is need to space, labour, and mechanisation that will be used on the production process.

Various analysis like capacity analysis and equipment analysis are carried out to ensure fast and cheap operation of the warehouse.

Inefficient warehouse designs leads to delay in service delivery and extra cost to the business.

Provided $1,350 of piano lessons to students who paid in cash.Provided $1,060 of piano lessons on account.Collected $795 from students who took piano lessons during April.Paid April’s piano rental bill of $600.Received May’s piano rental bill of $650 and set it aside for payment in June. Assuming the company uses accrual basis accounting, what is net income for May?Multiple Choice

Answers

Answer: $1760

Explanation:

If the company uses accrual basis accounting, the net income will be calculated as:

Cash received for lessons = $1,350

Add: Lessons provided on account = $1,060

Less: Rental bill for may = $(650)

Net income = $1350 + $1060 - $650

= $1760

The net income is $1760

While driving down his street one evening, Jonah notices that his neighbor has laid out an electric fan for the garbage to pick up the next morning. Jonah stops and has a look at the fan; it seems to be perfectly fine, so he takes it home with him. The fan would most likely be considereda. lost property.b. mislaid property.
c. abandoned property.
d. None of these are correct.

Answers

Answer:

The answer is option B) The fan would most likely be considered mislaid property.

Explanation:

Mislaid property fall among the categories of the common law of property which deals with personal property or chattel which has left the possession of its rightful owner without having directly entered the possession of another person.

Mislaid property refers to a property that has been left intentionally in a certain place and later forgotten. When a property is left in a certain place by the owner with an intention to take it later and if the owner finds it difficult to locate the property later.

Jonah's neighbor's fan falls into the category of mislaid property because, It seems to be perfectly fine and was intentionally laid out by his neighbor.

Suppose the corrective tax policy and the number of pollution permits available do not change in spite of this demand shift. As a result of the technology change, the price of pollution will change under , and the quantity of pollution will change under

Answers

Answer:

As a result of the technology change, the price of pollution will be same as price of pollution with pollution permits.

The quantity of pollution with corrective tax will be lower than quantity of pollution with pollution permits.

Explanation:

The pollution permits are issued to reduce pollution by firms. The companies will reduce the pollution and will only be able to emit pollution up to certain limit. The price of pollution with corrective tax will be same as the price of pollution with pollution permits.

Final answer:

The change in technology will effect an increase in the price of pollution due to the increased cost of production factoring in the social cost of pollution, hence shifting the supply curve upward. The quantity of pollution will decrease as firms adopt cheaper technologies for pollution reduction influenced by the corrective tax policy and pollution permits.

Explanation:

The subject of your question is concerned with corrective tax policy and pollution permits in the context of a market economy under the influence of advances in technology. Under the original conditions before the social costs of pollution are taken into account, the equilibrium was met at a pollution price of $15 with a quantity of 440. However, once the external cost of pollution has been factored in, the supply curve shifts upward, creating a new equilibrium at a price of $30 and a quantity of 410, indicating an increase in the cost of pollution and a decrease in its quantity.

These policy instruments (corrective tax and pollution permits) induce companies to invest in technologies that reduce pollution higher costs of pollution as a result of the corrective tax motivate firms to seek cheaper technologies for pollution reduction. Those with less costly ways of lessening pollution will do so to reduce their tax expense, while those who would incur large costs in doing so would opt to pay the tax. The option of pollution permits introduces a marketplace where firms can purchase the right to pollute, the cost of which is again a motivator for firms to reduce pollution. Consequently, the demand for pollution permits among firms will influence their pricing. Firms that can reduce pollution at lower costs will do so the most. With no change in demand for pollution permits or corrective tax policies, the price of pollution will change as a result of the conditions set by these policies, and the quantity will change according to the adoption of more efficient technology.

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The following data relates to Mangini Company's estimated amounts for next year. Estimated: Department 1 Department 2
Manufacturing overhead costs $320,000 $400,000
Direct labor hours 65,000 DLH 75,000 DLH
Machine hours 2,000 MH 2,500 MH
Required:
a. What is the company's plantwide overhead rate if machine hours are the allocation base? (Round your answer to two decimal places.)

Answers

Answer:

$160.00 per machine hour

Explanation:

The plant-wide (blanket ) overhead absorption rate is calculated as follows:

Plant-wide OAR=

Total overheads of all the production departments/ Total machine hours

Plant-wide OAR =  $(320,000 + 400,000)/(2,000+2,500) machine hours

                                        =$160.00 per machine hour

Helen, a manager for Marshall Manufacturing, spends much of her time reviewing the global, technological, socio-cultural, competitive, and economic factors that can influence the success of her firm's marketing efforts. Helen's efforts indicate that she is involved with environmental scanning.

Answers

Answer:

The statement is: True.

Explanation:

Environmental scanning refers to the analysis companies make of the immediate and further atmosphere that will allow them to spot threats to counteract or mitigate them and opportunities from where the firm can make a profit. Organizations engaging environmental scanning constantly review different mediums of communication and conduct researches that will keep them up-to-date on market fluctuations.

Final answer:

Helen's role at Marshall Manufacturing involves environmental scanning which requires her to monitor various external factors that influence the company's marketing efforts. The emergence of technology and globalization has expanded competition and reshaped market dynamics, pressing businesses and workers to adapt for macroeconomic growth.

Explanation:

Helen, a manager at Marshall Manufacturing, is actively engaged in environmental scanning, a crucial process in business management that involves analyzing various factors that may impact the company's marketing strategies and overall success. The actions she takes to examine global, technological, socio-cultural, competitive, and economic influences are a testament to this activity's importance. Crucial shifts in how we define markets, primarily due to advancements in technology and globalization, have opened up local businesses to a world of increased competition and innovative approaches to business-to-business relationships via online platforms.

This competitive environment encourages both individual workers and firms to seek improvements and invest in human and physical capital, which can lead to macroeconomic growth. The need to stay ahead in technology and to participate in the global marketplace invariably affects local market dynamics and corporate decision-making processes.

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ak Creek Furniture Factory (OCFF), a custom furniture manufacturer, uses job order costing to track the cost of each customer order. On March 1, OCFF had two jobs in process with the following costs: Work in Process Balance on 3/1 Job 33 $ 7,500 Job 34 6,000 $ 13,500 Source documents revealed the following during March: Materials Requisitions Forms Labor Time Tickets Status of Job at Month-End Job 33 $ 3,500 $ 6,500 Completed and sold Job 34 6,000 7,800 Completed, but not sold Job 35 4,200 3,250 In process Indirect 1,300 2,140 $ 15,000 $ 19,690 The company applies overhead to products at a rate of 150 percent of direct labor cost. Required: 1. Compute the cost of Jobs 33, 34, and 35 at the end of the month. 2. Calculate the balance in the Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold accounts at month-end.
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