BUSINESS COLLEGE

External setup time refers to:______________. a. The time it takes workers to set up a machine during scheduled maintenance
b.The time to complete setup activities that do not require that the machine be stopped
c.The time it takes equipment vendors to set up the machine
d. None of the above

Answers

Answer 1
Answer:

Answer: The correct answer is "b.The time to complete setup activities that do not require that the machine be stopped".

Explanation: External setup time refers to the time to complete setup activities that do not require that the machine be stopped.

External setup is the term used to refer to when workers can perform maintenance without stopping the production process. The term "external" is used because maintenance can be performed "external" to the production process.

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The efficient markets hypothesis holds only if all investors are rational. True or false?

Answers

Answer:

This is true, the efficient market hypothesis only holds if all the investors are rational, for example if an investor is not rational and wants to make a loss instead of profit, then the efficient market hypothesis wont hold as the investor will be acting in a way that wont benefit him. When the investor acts irrationally, then he wont react correctly to the information he has and buy or sell stocks which he isn't supposed to buy or sell and this will change the price of the stock from what the price of the stock should be.

Explanation:

Askew Company uses a periodic inventory system. The June 30, 2018, year-end trial balance for the company contained the following information: Account Debit Credit Merchandise inventory, 7/1/17 32,800 Sales 388,000 Sales returns 12,800 Purchases 248,000 Purchase discounts 6,800 Purchase returns 10,800 Freight-in 18,600 In addition, you determine that the June 30, 2018, inventory balance is $40,800. Required: 1. Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2018. 2. Prepare the year-end adjusting entry to record cost of goods sold.

Answers

Answer and Explanation:

a. The computation of the cost of goods sold is shown below:

Beginning inventory               $32,800

Add: Net purchase

Purchase $248,000

Less: Purchase discount -$6,800

Less: Purchase returns -$10,800

Add: Freight in $18,600

Total net purchased               $249,000

Less: ending inventory          -$40,800

Cost of goods sold                 $241,000

2. The year end adjusting entry is

Cost of goods sold Dr $241,000

Ending inventory  Dr $40,800

Purchase discount Dr $6,800

Purchase returns Dr $10,800

            To Beginning inventory $32,800

            To Purchase $248,000

            To freight in $18,600

(Being the cost of goods sold is recorded)

Swift Oil Company is considering investing in a new oil well. It is expected that the oil well will increase annual revenues by $140,000 and will increase annual expenses by $88,000 including depreciation. The oil well will cost $465,000 and will have a $10,000 salvage value at the end of its 10-year useful life. Calculate the annual rate of return. (Round answer to 2 decimal places, e.g. 12.47.)

Answers

Answer: Annual rate of return = 21.89%

Explanation:

Given that,

Expected increase in annual revenues by = $140000

Expected increase in annual expenses by =  $88,000 including depreciation

Cost of oil well = $465,000

salvage value at the end of its 10-year useful life = $10,000

Expected Income = Expected increase in annual revenues - Expected increase in annual expenses

= 140000 - 88000

=$52000

Average investment = (465000+10000)/(2)

= $237500

Annual rate of return = (Expected\ Annual\ Income)/(Average\ Investment)

= (52000)/(237500)

= 21.89%

pproximately how much should be accumulated by the beginning of retirement to provide a $2,500 monthly check that will last for 25 years, during which time the fund will earn 6% interest with monthly compounding?

Answers

Answer:

$388,017.16

Explanation:

The amount that shall be accumulated at the beginning of retirement to provide a $2,500 for the period of 25 years shall be determined through the present value of annuity formula which is mentioned below:

Amount that should be accumulated=R[(1-(1+i)^-n)/i]

In the given question

R=monthly check that will be received=$2,500

n=number of months during which monthly checks will be  received=25*12=300

i=interest rate compounded monthly=6/12=0.50%

Amount that should be accumulated=2500[(1-(1+0.50%)^-300)/0.50%]

                                                            =$388,017.16

Gitli Company sells its product for $ 55 and has variable cost of $ 30 per unit. The total fixed costs are $ 25 comma 000. What will be the effect on the breakeven point in units if variable cost increases by $ 10 due to an increase in the cost of direct​ materials? (Round your answer up to the nearest whole​ unit.) A. It will decrease by 667 units. B. It will increase by 167 units. C. It will decrease by 167 units. D. It will increase by 667 units.

Answers

Answer:

D. It will increase by 667 units.

Explanation:

The calculation of break-even point is shown below:-

Contribution Per Unit (before increase in Variable Cost) = Unit sale price - Unit Variable Cost

= $55 - $30

= $25

Break-Even (Units) = Fixed Cost ÷ Division Contribution per unit

= $25,000 ÷ $25

= 1,000

New Variable Cost per unit = $30 + $10 (Increase in Direct material cost) = $40

Selling Price = $55

New Contribution per unit = $55 - $40 = $15

New Break-Even (Units) = Fixed Cost ÷ New Contribution per unit

= $25,000 ÷ $15

= 1,667

Increase in Break-Even Units(after increase in D.M cost) = New Break even point - Old Break even point

= 1,667 - 1,000 units

= 667 units

Therefore, The Break even points units will increase by 667 units, if the D.M cost increases by $10 per unit.

By the end of December, Jackson Company has completed work of $2,000. Jackson company has neither billed the clients nor recorded any of the revenue. If the appropriate adjusting entry is not made at the end of the year, what will be the effect on: (a) Income statement accounts (overstated, understated, or no effect)? (b) Net income (overstated, understated, or no effect)? (c) Balance sheet accounts (overstated, understated, or no effect)?

Answers

Answer:

(A) sales revenue: understated

    gross profit: understated

(B) net income: understated

(C) Retained Earnings : understated

    Unearned Services: overstated

Explanation:

(A) sales revenue will not represent the real sales attributable for the period. It will be 2,000 lower than it should be.

Ths will make gross profit be understated as well as is the difference between the sales and the COGS

(B) net income is understated as it do not include a revenue for 2,000 thus, is lower.

(C) unearned services is overstated has it should decrease by 2,000

RE is understate as will increase by the 2,00 additional net income.
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