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2 years ago

The following are budgeted data for the Bingham Corporation, a merchandising company:

Business

1 answer:

soldi70 [24.7K]2 years ago

5 0

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Budgeted Sales (at retail):

January $300,000*0.60= 180,000

February $340,000*0.6= 204,000

March $400,000*0.6= 240,000

April $350,000

Cost of goods sold as a percentage of sales 60%

Desired ending inventory 75% of next month sales

April:

Purchase from March= (240,000*0.25) + (350,000*0.60*0.75)=60,000 + 157,500= $217,500

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Pouch Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.84 direct labor-

Sunny_sXe [5.5K]

Answer:

$31,584

Explanation:

Pouch Corporation

Direct Labor Budget June July Total

Required production in units

2,100 1,900

Direct labor-hours per unit

0.84 0.84

Total direct labor-hours needed

1,764 1,596

Direct labor cost per hour

$9.40 $9.40

Total direct labor cost

$16,581.60 $15,002.40 $31,584

Required production in units×Direct labor-hours per unit =Total direct labor-hours needed

Total direct labor-hours needed×Direct labor cost per hour =Total direct labor cost

$16,581.60 + $15,002.40 = $31,584

8 0

2 years ago

Policies based on ABC analysis might include investing __________.A. extra care in forecasting for C items. B. more in supplier

Ilia_Sergeevich [38]

Answer:

Correct option is B

more in supplier development for A items.

Explanation:

In materials management, the ABC analysis is an inventory categorization technique. ABC analysis divides an inventory into three categories—"A items" with very tight control and accurate records, "B items" with less tightly controlled and good records, and "C items" with the simplest controls possible and minimal records.

The ABC analysis provides a mechanism for identifying items that will have a significant impact on overall inventory cost, while also providing a mechanism for identifying different categories of stock that will require different management and controls.

6 0

2 years ago

Kathy wants to buy a condominium selling for $95 comma 000. The taxes on the property are $1500 per year, and homeowners' in

kumpel [21]

Answer:

Check the answers below!

Explanation:

There is just one question despite the exercise requires completition of 7 additional numerals.

a. Required down payment = Price of the condominium * interest rate required by the bank.

$95.000 * 20% = $19.000

b. 28% of adjusted monthly income is:

(5000-145)*28%=

1359.4

c. Monthly payments of principal and interest for a 25-year loan.

Using PV of ordinary annuity formula,

with PV of the bank loan =96000*80%=76800

d.Total monthly payment=

671+((346+1400)/12)=

817

e.YES---- 817 < 1359.4

f. Amt. of First payment on the loan applied to the principal:

671-(76800*0.00792)=

62.74

ie.$ 63

g.Total amount she pays for the condominium with a 25-year conventional loan(without including taxes & homeowners' insurance)

671*12 mths. *25 yrs. =

201300

h) So, Total interest paid for the 25-year loan:

201300-76800=

124500

No.of periods=25*12=300

at monthly interest of 9.5%/12=

76800=Pmt.*(1-1.00792^-300)/0.00792

Solving the above, we get the monthly payment as 671

5 0

2 years ago

A professor records the majors of her 30 students as follows: Accounting Economics Undecided Finance Management Management Finan

vampirchik [111]

Answer: Nominal

Explanation:

When the Nominal measurement scale is used, it means the data was sorted into labels or names which is why it is sometimes referred to as Named data. For instance, sorting dogs in a park into their species i.e Husky, American Bull, German Shephard etc.

There is no quantitative value and usually there is no ordering method to this measurement scale.

The professor sorted her students according to their majors which in this case acted as labels so the Professor was using the Nominal measurement scale.

3 0

2 years ago

Burrito Corporation has a defined benefit pension plan. Burrito received the following information for the current calendar year

aalyn [17]

Answer:

Pension Expense = $29,200,000

Explanation:

As per the data given in the question,

Service cost = $25,000,000

Interest cost = $15,000,000

Expected return on the plan assets = $10,800,000

( 12% × $90,000,000)

Pension Expense = $29,200,000

($25,000,000 + $15,000,000 - $10,800,000)

Journal entries to record the pension expense :

Pension expense A/c Dr. $29,200,000

To accrued pension cost A/c $6,200,000

To Cash A/c $23,000,000

($29,200,000 - $6,200,000)

3 0

2 years ago