BUSINESS COLLEGE

Super Grocery store allocates its service department expenses to its various operating (sales) departments. The following data is available for its service departments: Expense Basis for allocation Amount Administrative Square feet of floor space $ 34,000 Advertising Amount of dollar sales $ 27,000 The following information is available for its three operating (sales) departments: Department Square Feet Dollar Sales Produce 1,470 $ 99,000 Bakery 980 $ 49,000 Meats 2,450 $ 61,000 Totals 4,900 $ 209,000 What is the total administrative expense allocated to the Meats department?

Answers

Answer 1
Answer:

Answer:

Allocated administrative expense to Meat department = $17,000

Explanation:

The basis of allocating the administrative expense is the floor space occupied by the the department.

Administrative  expense

= Floor space occupied/Total floor area × Administrative expense

Total floor area=  (1,470+980+2,450)= 4,900 square feet

Floor area occupied by meat department = 2,450

Administrative expense = $34,000

Allocated administrative expense to Meat department:

= (2,450/4,900) ×  $34,000 = $17,000

= $17,000
Answer 2
Answer:

Answer:

$17,000

Explanation:

Using the floor spacing occupied by each department as the basis for the allocation of the administrative expense. In other words, the bigger the square feet occupied, the bigger the total administrative expense to be allocated.

Given

Department       Square Feet       Dollar Sales

Produce                 1,470                  $ 99,000

Bakery                      980                 $ 49,000

Meats                     2,450                 $ 61,000

Totals                     4,900               $ 209,000

And the Amount Administrative Square feet of floor space $ 34,000

Then the administrative cost allocated to the meat department

= (2450/4900) * $ 34,000

= $17,000

Related Questions

Mitchell has a cause: He loves cats. As an economist, he could earn $100,000 as a faculty member, but instead he decides to devote his time to the Humane Society as its chief economist. Knowing nothing else, you would expect that he would receivea.higher pay at the Humane Society because of the difference in skill levels.b.lower pay at the Humane Society because of signal theory.c.lower pay at the Humane Society because of the compensating differential theory.d.higher pay at the Humane Society because of signal theory.e.the same pay as either a professor or as a chief economist at the Humane Society.
. LG plans to structure a transaction as a legal sale of property, even though the economic substance of the transaction is a lease of the property. In her current position, the tax consequences of a sale are much more favorable than those of a lease. Ms. LG believes that if her position unexpectedly changes so that she would prefer a lease to a sale, she can ignore the legal formalities and report the transaction as a lease.
The makers of Whirlpool washers and other electrical appliance manufacturers need to be concerned about the kind and availability of electricity in the global marketplace. If there were a compatibility problem, it would be the result of a _____________difference. a. technological b. cultural c. societal d. economic
Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, '-', equity. Common Accounts Receivable Cash Dividends Revenues Expenses Assets Stock Unearned Revenues Accounts Liabilities Payable 2 Enter the missing value to balance the equation. E25,000 38,000 38,000 35,000. 28,000 22,000 30,000-48,000 +31,000 2,000 - 39,000 32.000 25,000 31.000 39,000 3 Identify the part of the expanded accounting equation for each account title. Prepaid Insurance Common Stock Dividends Insurance Expense Accounts Payable Service Revenue 4 Build a T-account for each account title. Label the DR (debit), CR (credit), NB (normal balance), and "+" or "-". Credit Debit Normal Balance Accounts Receivable Dividends Common Stock + + + + Insurance Expense Rent Payable Interest Revenue + + + + + + Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Liabilities Assets Beginning of Year: $27,000 $15,000 End of Year: $60.000 $27,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Ending Equity Beginning Equity 3) If the company issues common stock of $6,300 and pay dividends of $37,300, how much is net income (loss)? 4) If net income is $1,100 and dividends are $6,000, how much is common stock? Net Income (Loss) Common Stock 5) If the company issues common stock of $19,600 and net income is $19,100, how much is dividends? 6) If the company issues common stock of $42,900 and pay dividends of $3,400, how much is net income (loss)? Dividends Net Income (Loss)
A learning rate of 0.9 means each __________ of the cumulative output reduces unit costs by __________.

Expenditures for consumer goods and services $4,565 Exports $740
Government purchases of goods and services $1,465
Social Security taxes $510
Net investment $225
Indirect business taxes $520
Imports $825
Gross investment $865
Corporate income taxes $185
Personal income taxes $750
Corporate retained earnings $45
Net foreign factor income $20
Government transfer payments to households $690
Net interest payments to households $0
On the basis of Table, depreciation is
a. $640 billion.
b. $50 billion.
c. $85 billion.
d. $690 billion.

Answers

Answer:

a. $640 billion.

Explanation:

Net investment = $225

Gross investment = $865

Depreciation = Gross investment - Net investment = $865 - $225 = $640

Therefore, on the basis of Table, depreciation is  a. $640 billion.

Which examples demonstrate common Governance workplaces and employers? Check all that apply.Melissa works in Washington, D.C., writing and voting on federal laws.
Danette uses a vehicle to deliver US mail to people who live in a city.
Gavin was elected as a city council member in his hometown.
Vito works in a US embassy in China helping Americans with paperwork.

Answers

Answer:

a and c

Explanation:

did it on edge 2020

Answer:

A and C! edge 2020!

Explanation:

Suppose that the United States and China trade exclusively with each other. What will happen to the value of the U.S. dollar, ceteris paribus, if the price level in China rises faster than the price level in the United States

Answers

Answer:

If the price level in China is rising faster than the price level in the US, this means that the Chinese inflation rate is higher.

two different things will happen here:

1) higher inflation means that Chinese products will be more expensive which will increase the demand for American products. An increase in the demand for American products will appreciate the US dollar, but...

2) Inflation all by itself generally would not alter the exchange rate, but high inflation generally leads to high interest rates. Central banks usually increase interest rates to decrease inflation.

Higher interest rates will usually increase the demand of a currency which result in an appreciation of the local currency against foreign currencies. In this case, the Chinese yuan should appreciate against the US dollar.

Generally the appreciation of a currency due to high interest rates will offset the depreciation due to a negative trade balance.

Wendy wants to start a business. She knows many unaccredited investors who she knows will help her jumpstart her business. What constraints on investments for new businesses apply here?

Answers

Available Options are:

A. Investors' allowable investment depends on the accredited or non-accredited status.

B. Investors may invest a combined $50 million within a 12-month period.

C. Investors may invest no more than $1 million combined for the first year of the business.

Answer:

Option C. Investors may invest no more than $1 million combined for the first year of the business.

Explanation:

The non-accredited investors do not invest more than $1 million for first year. Furthermore, for Investor it also imposes investment in current business conditions which says that Investor can invest in its business with greater of:

1. $2000

2. Or the lesser of (If the net worth of Wendy is less than $100,000)

  • 5% of its total income for the year
  • Net worth

There is also an option which is available if the net worth of Investor exceeds above $100,000 then he can invest up to lesser of 10% of his income or net worth, otherwise he will have to follow the above conditions.

Here, it also has an upper limit, which means that the investor can not invest more than $100,000 in the subsequent year, whatever the level of net worth or income he had for the year.

This means the non-accredited investor can not invest more than $1 million.

Final answer:

Unaccredited investors can invest in new businesses, but regulations apply. Primarily, the securities need to be either registered with the SEC or meet an exemption. Two such exemptions under Regulation D are Rule 504 and Rule 506, allowing fundraising from both accredited and non-accredited investors under certain circumstances.

Explanation:

Wendy is seeking an investment from unaccredited investors for her new business. This brings her into the area of private company financing where several regulations, primarily referred to as securities laws, apply.

These laws require that securities offered or sold to investors must be either registered with the Securities and Exchange Commission (SEC) or meet an exemption. Since most startups like Wendy's do not want to bear the burden of SEC reporting requirements, they rely on exemptions to raise capital. One such exemption is Regulation D, especially Rule 504 and Rule 506.

Rule 506 allows investments from an unlimited number of accredited investors and up to 35 unaccredited investors, provided they meet 'sophisticated investor' standards. Rule 504 allows raising up to $1 million in a 12-month period, from both accredited and non-accredited investors. Nonetheless, it does not preempt state blue sky laws, meaning Wendy may need to comply with individual state laws where her investors are based.

Learn more about Investments from Unaccredited Investors here:

brainly.com/question/34217730

What is the interest rate charged per period multiplied by the number of periods per year called?a. effective annual rateb. annual percentage ratec. periodic interest rated. compound interest rate

Answers

Answer:

The correct answer is letter "B": annual percentage rate.

Explanation:

The Annual Percentage Rate or APR is the cost per year of borrowing. By law, all financial institutions must show customers the APR of a loan or credit card, which clearly indicates the real cost of the loan. It is not the same as the Interest Rate on a loan. Loans charge interest rates but usually charge other fees such as closing costs, origination fees, and insurance costs.

The first step in the project control process for measuring and evaluating project performance is to ch13 Select one: a. Determine the project objectives. b. Determine the project deliverables. c. Analyze the project budget. d. Set a baseline plan e. Review the project priority matrix.

Answers

Answer:

The correct answer is (D)

Explanation:

One of the most significant perspectives to be considered in connection is to frame a benchmark plan. Execution estimation and target-setting are essential to the development procedure, however a pattern plan is basic and is considered as an initial step. While numerous private companies can run themselves easily without target-setting, however every organisation must have a plan and a way to execute those plan.
Other Questions
If your firm has a capital structer of 60% debt and 40% common equity with the debt having cost of 10% and the equity of 17% what is the firm weight average cost of capital
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $8 million. The loss from operations of the segment during 2021 was $3.6 million. Pretax income from continuing operations for the year totaled $5.8 million. The income tax rate is 25%. The estimated fair value of the segment's assets, less costs to sell, on December 31 was $7 million. Prepare the lower porti
The following assets in Jack’s business were sold in 2020: Asset Holding Period Gain/(Loss) Office equipment 6 years $1,100 Automobile 8 months ($ 800) ABC stock (capital asset) 2 years $1,400 ​ Office equipment, purchased for $8,000, had a zero adjusted basis. The automobile was purchased for $2,000 and sold for $1,200. The ABC stock was purchased for $1,800 and sold for $3,200. In 2020 (the year of sale), Jack should report what amount of net capital gain and net ordinary income?
ank states that its decision to offer home loans at an extremely low initial, but variable, rate is rooted in the idea that all have a right to owning an affordable home. The bank does not state that the loans are packaged in a product sold to another, larger bank that may or may not work with customers in difficult situations. The smaller bank is no longer exposed to the risk of longer-term loans, and makes a large profit. Which moral theory is the bank operating under?