Answer:
A) Price 7,080 U
B) Quantity 4,630.5 U
C) Total 11.710,5 U
Explanation:
DIRECT MATERIALS VARIANCES
std cost $3.45
actual cost $3.65
quantity 35,400
difference $(0.20)
price variance $(7,080.00)
std quantity 36110.00
actual quantity 35400.00
std cost $3.45
difference 710.00
quantity variance $2,449.50
Total Variance: 2,449.5 - 7,080 = -4.630,5
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:
As per MM proposition total capital would remain same.
which implies share price = (24-12)/2= $6 per share
Answer:
Collectivism
Explanation:
The collectivism refers to the group who worked as a team and given the priority according to their roles, designations.
As we use the concept synergy that 1 + 1 give 11 i.e means due to efforts of group we can accomplish the company target as compare to the individual effort.
Since in the given question, the Daniel workplace does not have any structured hierarchy and all employees are treated equally so in this case, the collectivism is low in this organization.
