Cost Classification Listed below are costs found in various organizations. 1. Property taxes, factory.2. Boxes used for packaging detergent produced by the company.3. Salespersons’ commissions.4. Supervisor’s salary, factory.5. Depreciation, executive autos.6. Wages of workers assembling computers.7. Insurance, finished goods warehouses.8. Lubricants for production equipment.9. Advertising costs.10. Microchips used in producing calculators.11. Shipping costs on merchandise sold.12. Magazine subscriptions, factory lunchroom.13. Thread in a garment factory.14. Billing costs.15. Executive life insurance.16. Ink used in textbook production.17. Fringe benefits, assembly-line workers.18. Yarn used in sweater production.19. Wages of receptionist, executive offices. Required: Prepare an answer sheet with column headings as shown below. For each cost item, indicate whether it would be variable or fixed with respect to the number of units produced and sold; and then whether it would be a selling cost, an administrative cost, or a manufacturing cost. If it is a manufacturing cost, indicate whether it would typically be…
Category: Business
Marwick’s Pianos, Inc., purchases pianos from a large manufacturer and sells them at the retail level. The pianos cost, on the average, $2,450 each from the manufacturer.
Marwick’s Pianos, Inc., sells the pianos to its customers at an average price of $3,125 each. The selling and administrative costs that the company incurs in a typical month are presented below:
A partnership began its first year of operations with the following capital balances: Young, Capital: $143,000 Eaton, Capital: $104,000 Thurman, Capital: $143,000
A partnership began its first year of operations with the following capital balances: Young, Capital: $143,000Eaton, Capital: $104,000Thurman, Capital: $143,000The Articles of Partnership stipulated that profits and losses be assigned in the following manner:Young was to be awarded an annual salary of $26,000 with $13,000 salary assigned to Thurman.Each partner was to be attributed with interest equal to 10% of the capital balance as of the first day of the year.The remainder was to be assigned on a 5:2:3 basis to Young, Eaton, and Thurman, respectively.Each partner withdrew $13,000 per year.Assume that the net loss for the first year of operations was $26,000 with net income of $52,000 in the second year. 21. What was Eaton’s total share of net loss for the first year? A. $3,900 loss.B. $11,700 loss.C. $10,400 loss.D. $24,700 loss.E. $9,100 loss. 22. What was the balance in Young’s Capital account at the end of the first year? A. $120,900.B. $118,300.C. $126,100.D. $80,600.E. $111,500. Solved by verified study co-pilot All Study…
A firm sells some output in a perfectly competitive market, where the price is $60 per unit, and some on a market in which it has a monopoly, with a demand function p2= 100 – q2, where q2 is output in the monopoly market.
Its total-cost function is C= (q1+q2)^2, where q1 is output in the competitive market. Find the profit maximizing outputs in the two markets and discuss the nature of the equilibrium.
For the past year, Momsen, Ltd., had sales of $47,747, interest expense of $4,400, cost of goods sold of $17,884, selling and administrative expense of $12,431, and depreciation of $7,430.
For the past year, Momsen, Ltd., had sales of $47,747, interest expense of $4,400, cost of goods sold of $17,884, selling and administrative expense of $12,431, and depreciation of $7,430. If the tax rate was 38 percent, what was the company’s net income? Solved by verified study co-pilot All Study Co-Pilots are evaluated by Gotit Pro as an expert in their subject area. Get Sollution Contact Us Student review: (1 ratings) 1 out of 1 people found this solution helpful.
Cotton On Ltd. currently has the following capital structure: Debt: $3,500,000 par value of outstanding bond that pays annually 10% coupon rate with an annual before-tax yield to maturity of 12%.
Cotton On Ltd. currently has the following capital structure: Debt: $3,500,000 par value of outstanding bond that pays annually 10% coupon rate with an annual before-tax yield to maturity of 12%. The bond issue has face value of $1,000 and will mature in 20 years. Ordinary shares: $5,500,000 book value of outstanding ordinary shares. Nominal value of each share is $100. The firm plan just paid a $8.50 dividend per share. The firm is maintaining 4% annual growth rate in dividends, which is expected to continue indefinitely. Preferred shares: 45,000 outstanding preferred shares with face value of $100, paying fixed dividend rate of 12%. The firm’s marginal tax rate is 30%. Required: a) Calculate the current price of the corporate bond? b) Calculate the current price of the ordinary share if the average return of the shares in the same industry is 9%? c) Calculate the current price of the…
Antonio buys five new college textbooks during his first year at school at a cost of $80 each.
Antonio buys five new college textbooks during his first year at school at a cost of $80 each. Used books cost only $50 each. When the bookstore announces that there will be a 50 percent increase in the price of new books and a 20 percent increase in the price of used books, Antonio’s father offers him $200 extra. What happens to Antonio’s budget line? 1.) Using the line drawing tool, graph Antonio’s original budget line. Label this line Upper L 1 . 2.) Using the line drawing tool, then graph Antonio’s new budget line. Label this line Upper L 2 . Carefully follow the instructions above, and only draw the required objects. Solved by verified study co-pilot All Study Co-Pilots are evaluated by Gotit Pro as an expert in their subject area. Get Solution Contact Us Student review: (11 ratings) 11 out of 11 people found this solution…