Answer:
Cost Debit Credit
Work in Process inventory $574,000
Manufacturing overhead $163,000
Wages payable/Cash $737,000
Answer:
a) $250,000
b) Zero
c) $6,100
d) $47,500
Explanation:
a) Bloomington owes $250,000 at year-end 2016 for inventory purchase.\
This relates to account payable and the amount to be reported as liability as at year-end 2016 is $250,000.
b)Bloomington agreed to purchase a $31,000 drill press in January 2017.
No liability will be recognized at year-end because the entity has no present obligation as there is no legal or constructive responsibility to pay $31,000. What occurred is just an agreement that can be altered.
c) During November and December of 2016, Bloomington sold products to a customer and warranted them against product failure for 90 days. Estimated costs of honoring this 90-day warranty during 2017 are $6,100.
The entity will recognized $6,100 as warranty payable as the entity has a present obligation as at year-end 2016 to compensate the customer.
d)Bloomington provides a profit-sharing bonus for its executive equal to 5% of reported pretax annual income. The estimated pretax income for 2016 is $950,000. Bonuses are not paid until January of the following year
The entity will report 5% of $950,000 ($47,500) as liability at year-end 2016 as the the entity has a present obligation to settle its executive.
Answer:
the initial principal balance is $100,000, but it will gain 2% simple monthly interest during 16 months = $100,000 + ($100,000 x 2% x 16) = $132,000
the mortgage loan's principal = $132,000
APR = 12%
n = 30 years or 360 monthly payments
1) using a loan calculator we can determine that the monthly mortgage payment (only principal + interest) = $1,357.77
2) since they will make 360 monthly payments, they will pay in total = $1,357.77 x 360 = $488,796.71
in total they will pay $$356,796.71 in interest
Answer:
market capitalization = current stock price x total stocks outstanding.
Since we are not given neither the total number of shares outstanding or current stock price, we can use another question as an example.
In the other question, the total number of outstanding shares was 3,225,987 and the current stock price is $20.76. So the current market cap = 3,225,987 x $20.76 = $66,971,490
If the stock price increases by 10% (to $22.836), then Chester's market cap = 3,225,987 x $22.836 = $73,668,639 or $73.7 million.
You can follow the example to determine the market cap in your question.
Answer:
Below is the solution to the given problem
Explanation:
a. What is the average number of customers waiting?
With one barber and exponential service, this system fits Model 1 in the text. λ = 3.000 per hour (given), μ= 60/17 = 3.529 per hour.
You are looking for Lq here.
Lq = λ
/ μ(μ – λ) = 
/3.529 (3.529 – 3.000) = = 4.82 customers
b. What is the average time a customer waits?
Wq = Lq/λ = 4.82/3.00 = 1.607 hours = 96.40 minutes
c. What is the average time a customer is in the shop?
You are looking for Ws here, and need to calculate Ls first.
Ls = λ / μ(μ – λ) = 3.00/3.529 – 3.000= 5.671
Ws = Ls/λ = 5.671/3.00 = 1.890 hours = 113.4 minutes
d. What is the average utilization of Benny's time?
ρ = λ/μ = 3.00/3.529 = 0.85 = 85.0%
