Answer: should be protected because their account is fully insured by the FDIC.
Explanation:
From the question, we are informed that Xavier and Alyssa kept about $55,000 in a savings account at Bigbux Bank, the bank failed and filed for bankruptcy but that the bank FDIC member bank.
Based on the above scenario, they'll be protected because their account is fully insured by the FDIC. It should be noted that the Federal Deposit Insurance Corporation helps in insuring several bank deposits and in case of bank failure, the depositors will be paid or the accounts of the bank will have to be transferred to some other bank.
The statement that "the unemployment rate will increase as the economy moves into a recession" is an example of:
Answer:
D. A generalization
Explanation:
here are the options to this question :
. A normative statement
B. A fallacy of composition
C. Loaded terminology
D. A generalization
A generalization is a statement that is true most time but not in all cases.
Writer One Inc. manufactures ball point pens that sell at wholesale for $0.80 per unit. Budgeted production in both 2018 and 2019 was 8,000 units. There was no beginning inventory in 2018. The following data summarized the 2018 and 2019 operations: 2018 2019Units sold 6,500 9,000Units produced 8,000 8,000Costs: Variable factory overhead per unit $0.20 $0.20Fixed factory overhead $1,200 $1,200Variable marketing per unit $0.30 $0.30Fixed Selling and Administrative $320 $320Variable costing operating income for 2015 is calculated to be:a. $430.b. $655.c. $149.d. $1,030.e. $1,180.
Answer:
Results are belolw.
Explanation:
First, we need to calculate the total unitary variable cost:
Unitary variable cost= 0.2 + 0.3= $0.5
Income statement:
Sales= 8,000*0.8= 6,400
Total variable cost= (8,000*0.5)= (4,000)
Contribution margin= 2,400
Fixed factory overhead= (1,200)
Fixed Selling and Administrative= (320)
Net operating income= 880
Operating income is the actual income earned by the business from its regular business operations. It is determined from preparing the income statement at the end of the financial year.
The operating income through variable costing is $880.
The variable cost operating income is prepared by deducting all the variable costs from sales and from the contribution margin entire fixed costs are deducted to determine the net operating income.
The variable cost operating income statement is attached in the image below.
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A ceiling fan that was purchased at a local hardware store and then is attached to the ceiling becomes _______ to the property.
Answer:
The fixture, is the right answer.
Explanation:
The “fixture” is the correct answer because the term fixture refers to the piece of equipment or furniture that is fixed in the house or stays at a fixed position in the building. For example, there are many things in the house that are used only at its fixed position like the AC in the room. Once the AC is installed in the room then it is stationary, no one gonna move it from its original place. Likewise in the question, it is about the ceiling fan and the fan is also stationary as it stays at a fix position.
LDR manufacturing produces a pesticide chemical and uses process costing. There are three processing departments - Mixing, Refining, and Packaging. On January 1, 2012, the first department , Mixing, had a zero beginning balance. During January, 40000 liters of chemicals were started into production. During the month, 32,000 liters were completed, and 8000 remained in process, partially completed. In the mixing department, all raw materials are added at the beginning of the production process, and conversion costs are applied evenly through the process.
At the end of January, the equivalent unit data for the Mixing Department were as follows:
equivalent units | transferred in
units to account for
completed 32000 | 0
end bal WIP 8000 | 0
40000| 0
equivalent units
Direct Mtls Cost | conversion cost
32000 | 32000
8000 | 4800
40000 | 36800
In addition to the above, the costs per equivalent unit were $1.20 for direct materials and $5.75 for conversion costs. Using this data, please calculate the full cost of the units that were transferred out of the Mixing Department and into the Refining Department.
a) $222400
b) $48000
c) $37200
d) $211600
Answer:
Total cost transferred to Refining would be $222400
Explanation:
The costs per equivalent unit were $1.20 for direct materials and $5.75 for conversion costs
Since all the materials are added in the beginning of the process the equivalent units for materials are 40,000
The Equivalents units transferred out are 32000 both for materials and conversion
So the total cost transferred to Refining would be
32000 * 1.20 = $ 38400
32000 * 5.75 = $ 184000
Total $222400
You have $130,000 to invest in a portfolio containing Stock X and Stock Y. Your goal is to create a portfolio that has an expected return of 14.6 percent. Stock X has an expected return of 12.8 percent and a beta of 1.30, and Stock Y has an expected return of 7.8 percent and a beta of 1.05. a. How much money will you invest in Stock Y? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) b. What is the beta of your portfolio? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.)
Answer:
Let X be the amount invested in stock A
Let 1-X be the amount invested in stock B
Expected rate = (Required rate of X* X) + (Required ratebof Y * (1-X))
0.146 = (0.128 * X) + (0.078 * (1-X))
0.146 = 0.128X + 0.078 - 0.078X
0.146 - 0.078 = 0.128X - 0.078X
X = 0.068/0.05
X = 1.36
Amount to be invested in Stick X = $130,000 * 1.36
= $176,000
Amount to be invested in Stock Y = (1-X) * Available amount
= (1-1.36) * $130,000
= $46,800
Therefore, the amount to be invested in Stick Y = -$46,800
Calculation of the portfolio beta
bp = w1b1 + w2b2 + ........ + wnbn
bp = (1.36*1.3) + ((-0.36) * 1.05)
bp = 1.768 - 0.378
bp = 1.29
Therefore, the portfolio beta is 1.39
Which of the following is the most authoritative source of tax law?
A. Income Tax Regulations.
B. Internal Revenue Code.
C. Letter Rulings.
Answer:
B. Internal Revenue Code.
Explanation:
The federal tax laws of the U.S. are jotted under Title 26 in the U.S. Code. The Internal Revenue Code has been headed under Title 26. The laws have been divided and organized separately. The income tax, gifts, and excise taxes are arranged by dividing them into subtitles. Internal Revenue Service has been assigned the task of looking into the implementation of the laws.
Part U67 is used in one of Broce Corporation's products. The company's Accounting Department reports the following costs of producing the 14,900 units of the part that are needed every year.Per Unit Direct materials $ 1.80Direct labor $ 2.80Variable overhead $ 5.60Supervisor's salary $ 6.10Depreciation of special equipment $ 7.20Allocated general overhead $ 4.30An outside supplier has offered to make the part and sell it to the company for $22.00 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company. If the outside supplier's offer were accepted, only $20,900 of these allocated general overhead costs would be avoided.Required:a. Prepare a report that shows the financial impact of buying part U67 from the supplier rather than continuing to make it inside the company.b. Which alternative should the company choose?Prepare a report that shows the financial impact of buying part U67 from the supplier rather than continuing to make it inside the company.
Answer:
a)
Production costs for part U67:
Direct materials $1.80 x 14,900 units = $26,820
Direct labor $2.80 x 14,900 units = $41,720
Variable overhead $5.60 x 14,900 units = $83,440
Supervisor's salary $6.10 x 14,900 units = $90,890
Depreciation of special equipment $7.20 x 14,900 units = $107,280
Allocated general overhead $4.30 x 14,900 units = $64,070
total production costs = $414,220
cost of purchasing the units from outside supplier:
14,900 units x $22 purchase price = $327,800
unavoidable fixed costs = $107,280 + ($64,070 - $20,900) = $150,450
total costs associated to purchasing units = $478,250
Financial disadvantage of purchasing the part from outside supplier instead of producing it = $414,220 - $478,250 = ($64,030)
b)
the company should continue to produce part U67 since the relevant costs associated to purchasing it from an outside vendor would result in a financial disadvantage for the company.
The firm should make the part of U67 in the company instead of buying it from outside supplier as the cost of buying from outside is high. This will lead to financial disadvantage to the company.
What do you mean by 'Make or Buy Decision?
The decision to make or buy is the act of choosing between producing a product indoors or buying it from an external supplier. Decision-making or purchase decisions, such as exports, are about comparing the costs and benefits of in-house production compared to buying elsewhere.
Calculation of financial impact of buying the part of U67 from outside supplier instead of making it in the company:
Cost of making inside the company are as follows:
[tex]\rm\,Production costs for part U67:\\\\\rm\,Direct \; Materials \$1.80 \times 14,900 \;units = \$26,820\\\\Direct \; Labor \; \$2.80 \times 14,900 \; units = \$41,720\\\\Variable \; overhead \; \$5.60 \times 14,900 units = \$83,440\\\\Supervisor's \; salary \; \$6.10 x 14,900 \; units = \$90,890\\\\Depreciation \; of \;special \;Equipment \; \$7.20 \times 14,900 \;units =\$107,280[/tex]
[tex]\rm\,Allocated \; general \; overhead \; \$4.30 \times 14,900 \; units = \$64,070\\\\Total \;Production \;Costs = \$414,220[/tex]
Cost of buying the part of U67 from outside supplier:
[tex]\rm\,Cost = 14,900 \;units \times \,\$22 \,Purchase \;price \\\\Cost = \$327,800\\\\Unavoidable \; fixed \;costs = \$107,280 + (\$64,070 - \$20,900) \\\\Unavoidable \; fixed \;costs = \$150,450\\\\Total \;costs \; associated \; to \; purchasing \;units = \$478,250 (\$327,800+\$150,450)[/tex]
Financial disadvantage of purchasing the part from outside supplier instead of producing it = [tex](\$414,220 - \$478,250) = (\$64,030)[/tex]
b) The firm should make the product inside the company, as buying it from outside results in financial disadvantage to the company.
Hence, it can be seen that the relevant cost of buying from outside will result in loss for the company. therefore, it should make the product.
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The percent of investment that the project costs can be referred to as all of the following, except:_________.
a) required return
b) appropriate discount rate
c) cost of money
d) free cash flow
Answer:
The percent of investment that the project costs can be referred to as all of the following, except:_________.
a) required return
The percentage of investment that the project costs can be referred to as appropriate discount rate, cost of money and free cash flow except for required return. The correct option is a.
What is free cash flow?Free cash flow or free cash flow to a firm is the amount by which a business's operating cash flow exceeds its working capital needs and expenditures on fixed assets which are called capital expenditures.
It is that portion of cash flow that can be extracted from a company and distributed to creditors and securities holders without causing issues in its operations. It is an indicator of a company's financial flexibility and is of interest to holders of the company's equity, debt, preferred stock and convertible securities, as well as potential lenders and investors.
Depending on the audience and available data free cash flow can be calculated in various ways. A common measure is to take the earnings before interest and taxes, add depreciation and amortization, and then subtract taxes, changes in working capital and capital expenditure.
Free cash flow is different from net income.
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The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $457,760 $563,040 Work in process 823,970 765,730 Finished goods 791,920 782,630 Advertising expense $382,300 Depreciation expense-office equipment 54,050 Depreciation expense-factory equipment 72,630 Direct labor 867,080 Heat, light, and power-factory 28,720 Indirect labor 101,350 Materials purchased 850,190 Office salaries expense 296,720 Property taxes-factory 23,650 Property taxes-headquarters building 48,980 Rent expense-factory 39,980 Sales 3,980,690 Sales salaries expense 488,720 Supplies-factory 19,710 Miscellaneous costs-factory 12,390 Required: 1. Prepare the 20Y6 statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6
Answer:
Shanika CompanyStatement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6:
Materials:
Beginning Inventory $457,760
Purchases 850,190
Cost of materials available $1,307,950
Less Ending Inventory 563,040
Cost of materials used $744,910
Beginning Work in process 823,970
Direct Labor 867,080
Factory Overhead 298,430
Less Ending Work in process (765,730)
Cost of goods manufactured $1,968,660
Explanation:
1) Data and Calculations:
a) Shanika Company for 20Y6:
Inventories January 1 December 31
Materials $457,760 $563,040
Work in process 823,970 765,730
Finished goods 791,920 782,630
Advertising expense $382,300
Depreciation expense-office equipment 54,050
Depreciation expense-factory equipment 72,630
Direct labor 867,080
Heat, light, and power-factory 28,720
Indirect labor 101,350
Materials purchased 850,190
Office salaries expense 296,720
Property taxes-factory 23,650
Property taxes-headquarters building 48,980
Rent expense-factory 39,980
Sales 3,980,690
Sales salaries expense 488,720
Supplies-factory 19,710
Miscellaneous costs-factory 12,390
b) Factory Overhead:
Depreciation expense $72,630
Heat, light, and power 28,720
Indirect labor 101,350
Property taxes-factory 23,650
Rent expense-factory 39,980
Supplies-factory 19,710
Miscellaneous costs 12,390
Total Factory overhead $298,430
c) The cost of goods manufactured is made up of the costs of materials, direct labor, work in process, and manufacturing overhead.
When output is 100 units, the firm's total fixed cost is $50. What will this firm's total fixed cost be if output doubles to 200 units?
Answer:total fixed cost =$50
Explanation:
Total Fixed cost id the cost of production that remains constant irrrespective to changes in the production of output produced by a company usually in the short run.
When output is 100.the firm's Total fixed cost = $50
When output doubles to 200 units, the firm's Total fixed cost still remains the same at $50
At every level of output, fixed cost of a firm remains constant.
weighted average cost of capital of 11.5 percent. The firm has a before-tax cost of debt of 7.8 percent and a cost of equity of 13.95 percent. The corporate tax rate is 34%. What debt-equity ratio is needed for the firm to achieve its targeted weighted average cost of capital
Answer:
38.57%
Explanation:
The computation of debt to equity ratio is shown below:
But before that we need to find out the debt which is
Let us assume the debt be X
Weighted Average cost of capital is
= [Before tax cost of Debt × (1 - tax rate) × X] + [Cost of equity × (1 - X)]
11.5% = [7.8% * (1 - 0.34) * X] + [13.95% * (1 - X)]
11.5% = 5.148% X + 13.95% - 13.95% X
8.802% X = 2.45%
X = 27.83%.
Now
Debt to equity is
= 27.83% ÷ (1 - 0.2783)
= 38.57%
Fisher Depot just paid an annual dividend of $2.48 per share. Dividends are expected to grow by 7% per year. The required rate of return is 12%.1) What is the best estimate of the current stock price?
2) What is the best estimate of the stock price in 5 years?
3) What is the best estimate of the stock price in 20 years?
Answer and Explanation:
The computation is shown below:
Last years Dividend, D0 = $2.48
Growth Rate, g = 7%
Required Return, r = 12%
Now
D1 = D0 × (1 + g)
= $2.48 × 1.07
= $2.6536
Now
1 The Current Price is
P0 = D1 ÷ (r - g)
= $2.6536 ÷ (12% - 7%)
= $53.072
2. For the stock price in 5 years is
P5 = P0 × (1 + g)^5
= $53.072 × 1.07^5
= $74.436
3. For the stock price in 20 years is
P20 = P0 × (1 + g)^520
= $53.072 × 1.07^20
= $205.37
Which structure would be most appropriate for developing a new, highly innovative product that has strict time constraints
Answer: strong matrix
Explanation:
The strong matrix is a structure that would be most appropriate for developing a new, highly innovative product that has strict time constraints
In a strong matrix, it should be noted that the project manager has a wider control and also, the functional departments simply act as the subordinate with regards to the project.
When Isaiah Company has fixed costs of $122,090 and the contribution margin is $29, the break-even point is
Answer:
Break-even point in units= 4,210 units
Explanation:
Giving the following information:
Isaiah Company has fixed costs of $122,090 and the contribution margin is $29.
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 122,090/29
Break-even point in units= 4,210 units
Calculate total product costs. Determine the formula, then calculate the total product costs.
Answer:
$135
Explanation:
Computation of the Total product costs
Total product costs
Direct labor (Assembly-line workers' wages)=$11
Direct material $69
[Chipset $61+ Exterior case for phone $8]
Manufacturing overhead (Depreciation on plant and equipment)= $55
Total Product costs=$135
Therefore the Total product costs will be $135
A company’s loss control department identifies theft as a recurring loss type over the past year. Based on the department’s report, the Chief Information Officer (CIO) wants to detect theft of datacenter equipment.
Which of the following controls should be implemented?
A. Biometrics
B. Cameras
C. Motion detectors
D. Mantraps
Answer:
C.)Motion detectors
Explanation:
From the question, we were told about how a company’s loss control department identifies theft as a recurring loss type over the past year.
Based on this department’s report, the Chief Information Officer (CIO) wants to detect theft of datacenter equipment.
For the Chief Information Officer (CIO) to detect the theft of the datacenter equipment then a Motion detectors is required to be installed.
This Motion detectors make use of sensors to detect when there is a movement in a particular place, so this will help the CIO officer to curb the theft and detect the thief.
The data provided here is of Stevenson Company. The tax rate is 30%. From this data, compute the gross margin percentage, net profit margin percentage, the return on total assets, and return on equity for the year 2016. (Data provided in attachment)
The gross profit P is the difference between the cost to make a product C and the selling price or revenue R.
P = R - C
The mark up percentage M is the profit P divided by the cost C to make the product.
M = P / C = ( R - C ) / C
The gross margin percentage G is the profit P divided by the selling price or revenue R.
G = P / R = ( R - C ) / R
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The financial statements for Lexington Service Company include the following items
Cash $52,500 $49,000
Short-term Investments 33,000 20,000
Net Accounts Receivable 52,000 51,000
Merchandise Inventory 160,000 46,000
Total Assets 534,000 553,000
Accounts Payable 129,500 126,000
Salaries Payable 25,000 14,000
Long-term Note Payable 58,000 55,000
Compute the current ratio for 2016. (Round answer to two decimal places.)
A) 1.19
B) 0.84
C) 3.95
D) 6.66
Demand is created through meeting customer buying criteria, credit terms, awareness (promotion) and accessibility (distribution). According to the Thrift segment's customers, which of these products was the most competitive at the end of last year?
a. Cake
b. Cedar
c. Dell
d. Adam
Answer: cake
Explanation:
Demand is created through meeting customer buying criteria, credit terms, awareness (promotion) and accessibility (distribution).
According to the Thrift segment's customers, the product that was the most competitive at the end of last year is Cake.
Benjamin is late for an appointment with a client because he is stuck in
traffic. When he meets with the client, he apologizes and promises to be more
careful next time. This action demonstrates
A. honesty
B. respect for diversity
O C. punctuality
O D. accountability
Answer:
b
respect for diversity
If a lender is to repossess or bring about the sale of a property if the borrower defaults on the mortgage loan, the lender is said to have a ___ in the real estate.
Answer:
Secured interest.
Explanation:
If a lender is to repossess or bring about the sale of a property if the borrower defaults on the mortgage loan, the lender is said to have a secured interest in the real estate.
A secured interest can be defined as a legal right granted by a borrower to a lender (creditor) over a collateral (the borrower's property) which permits or allow the lender to have a right to possess the property as soon as the lender defaults in making payment. The payment which is expected to be made by the borrower of a mortgage loan is considered a secured obligation because it is a lien or an enforceable legal claim.
The income statements for Federer Sports Apparel for 2019 and 2018 are presented below Required Prepare a horizontal analysis for 2019 using 2018 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.)
FEDERER SPORTS APPAR
Income Statement
For the Years Ended December 31
Increase Decrease Year
2019 2018
Amount % Net sales 18,800,000 15,500,000
goods 13,200,000 7,000,000
Gross prof 5,600,000 8,500,000
1,600,000 1,200,000
1,000,000 1,000,000 0
Loss (litigation 1,500,000 300,000
Cost of sold Operating expenses Depreciation expense Inventory 200,000
Answer:
FEDERER SPORTS APPAREL
Income Statement For the Years Ended December 31
Years Increase /(Decrease)
2019 2018 Amount %
Net sales 18,800,000 15,500,000 3,300,000 21.29%
Cost of goods sold 13,200,000 7,000,000 6,200,000 88.57%
Gross profit 5,600,000 8,500,000 (2,900,000) -34.12%
Operating expenses 1,600,000 1,200,000 400,000 33.33%
Depreciation expense 1,000,000 1,000,000 0 0
Inventory write-down 200,000 0 200,000 100%
Loss (litigation) 1,500,000 300,000 1,200,000 400%
Net Income $1,300,000 $6,000,000
Explanation:
a) Federer Sports Apparel can use horizontal analysis as an analysis technique for analyzing the financial statement changes over a period of time. It is a useful tool for Federer to evaluate its trend situations, using the financial statements of two years with the earlier year serving as the base year (or independent variable).
Natraj Corporation uses the weighted-average method in its process costing system. Operating data for the Lubricating Department for the month of October appear below:Units % Complete for ConversionBeginning WIP Inventory 5,400 20%Transfers In during October 38,100 Completed / Transferred Out in October 37,800 Ending WIP Inventory 60%What were the equivalent units for conversion costs in the Lubricating Department in October?
Answer: $41,520
Explanation;
Equivalent units of production are used when some goods have not been fully processed but costs need to be attached to them. The incomplete ones will be converted to complete goods depending on how far along the production process they are.
Equivalent units for conversion costs = Transfers out during October + Ending WIP * Percentage completion
= 37,800 + (5,700 * 60%)
= $41,520
The following financial information was obtained from the year ended 2018 income statements for Cash Automotive and Pennington Automotive:_______.
Cash Pennington
Net income $26,070 $74,188
Income tax expense 9,270 27,080
Interest expense 300 2,900
Requirements:
1. Compute the times-interest-earned ratio for each company Round to two decimals.
2. Which company was better able to cover its interest expense?
Answer:
1. Cash Automotive = 118.80 times and Pennington Automotive = 347.23 times
2. Pennington Automotive is better able to cover its interest expense. Because it can cover its interest more times than Cash Automotive.
Explanation:
The Times Interest Earned Ratio (TIE), measures how well a Company cover its interest obligations,
Times Interest Earned Ratio (TIE) = Earnings Before Interest and Tax (EBIT) ÷ Interest
Cash Automotive
Times Interest Earned Ratio (TIE) = ($26,070 + $9,270 + $300) ÷ $300
= 118.80 times
Pennington Automotive
Times Interest Earned Ratio (TIE) = ($74,188 + $27,080 + $2,900) ÷ $300
= 347.23 times
Arden Company reported the following costs and expenses for the most recent month: Direct materials $ 79,000 Direct labor $ 41,000 Manufacturing overhead $ 19,000 Selling expenses $ 22,000 Administrative expenses $ 34,000 Required: 1. What is the total amount of product costs
The question is incomplete. Here is the complete question.
Arden Company reported the following costs and expenses for the most recent month: Direct materials $ 79,000 Direct labor $ 41,000 Manufacturing overhead $ 19,000 Selling expenses $ 22,000 Administrative expenses $ 34,000 Required:
1) What is the total amount of product costs?
2) What is the total amount of period costs?
3) What is the total amount of conversion costs?
4) What is the total amount of prime costs?
Answer:
(1) product cost = $139,000
(2) period cost = $56,000
(3) conversion cost = $60,000
(4) prime cost = $120,000
Explanation:
(1) The total product costs can be calculated as follows.
= Direct material + direct labor + manufacturing overhead
= $79,000 + $41,000 + $19,000
= $139,000
(2) The period cost can be calculated as follows
= selling expenses + administrative expenses
= $22,000 + $34,000
= $56,000
(3) The conversion cost can be calculated as follows
= direct labor + manufacturing overhead
= $41,000 + $19,000
= $60,000
(D) The prime cost can be calculated as follows
= Direct material + direct labor
= $79,000 + $41,000
= $120,000
The alternative to viewing management as a process is to focus on? A.people B.strategy C.resources
Answer:
C.resources
Explanation:
Given that Management is a term often used in a general sense or business-related situation to describe the process of gathering, monitoring and governing all forms of resources; which is a combination of any of the human resources, capital resources, technical resources, and material resources involved in the production of goods and services, or achieving a particular goal.
Hence, the alternative to viewing management as a process is to focus on RESOURCES.
Describe the core marketing function within an organization
Answer:
Corporate, Strategic and Product management function
Explanation
In corporate function, it serves the role of global marketing sector in setting, enforcing the brand standards and definition of the global infrastructure meant for public relations.
In strategic function, it serves the role of setting the growth strategies, assessment of competitive landscapes, collaboration with the engineering and the management towards the performance of gap analysis
In product management function, it serves the role of building and also driving the launching of those plans meant for products and service provisions, redefining of raw positions and messaging towards the crisp value positions.
Which of the following statements about Six Sigma programs is false?
A. Six Sigma programs need to be overseen by personnel who have completed Six Sigma master black belt" training and executed by personnel who have earned Six Sigma "green belts" and Six Sigma "black belts."
B. Six Sigma programs utilize advanced statistical methods to enable an activity or process to be performed with 99.9997 percent accuracy (equivalent to 3.4 defects/errors per million terations).
C. There are two important types of Six Sigma programsâ"one is forA existing processes falling below specification and needingA incremental improvement and the other is for developing new processes or products at Six Sigma quality levels.
D. There is evidence that Six Sigma techniques stifle innovation and creativity, particularly as concerns such creative processes as R&D and new product development which very often involve outside-the-box brainstorming and trial-and-error experimentation.
E. When performance of an activity or process reaches "Six Sigma quality," there are not more than ten defects/errors per million iterations.
Answer:
E. When performance of an activity or process reaches "Six Sigma quality," there are not more than ten defects/errors per million iterations
Explanation:
Six sigma is a quality management practice aimed at improving processes, products, and services by identifying and removing defects. Process streamlining and elimination of defects in business and manufacturing is the aim of Six Sigma.
The allowable defects in when a process reaches Sigma Six quality is 3.4 defects per 1 million iterations.
So the statement - When performance of an activity or process reaches "Six Sigma quality," there are not more than ten defects/errors per million iterations.
Is false
Direct manufacturing labor and direct materials variances, missing data. (CMA, heavily adapted) Oyster Bay Surfboards manufactures fiberglass surfboards. The standard cost of direct materials and direct manufacturing labor is $248 per board. This includes 35 pounds of direct materials, at the budgeted price of $3 per pound, and 11 hours of direct manufacturing labor, at the budgeted rate of $13 per hour. Following are additional data for the month of July:
Units completed 5,600 units,
Direct material purchases 230,000 pounds,
Cost of direct material purchases $759,000,
Actual direct manufacturing labor-hours 43,000 hours,
Actual direct manufacturing labor cost $623,500,
Direct materials efficiency variance $ 1,200 F,
There were no beginning inventories.
1. Compute direct manufacturing labor variances for July,
2. Compute the actual pounds of direct materials used in production in July,
3. Calculate the actual price per pound of direct materials purchased,
4. Calculate the direct materials price variance.
Answer:
Instructions are below.
Explanation:
To calculate the direct labor rate and efficiency variance, we need to use the following formulas:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Standard quantity= 5,600*11= 61,600
Direct labor time (efficiency) variance= (61,600 - 43,000)*13
Direct labor time (efficiency) variance= $241,800 favorable
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= 623,500/43,000= $14.5
Direct labor rate variance= (13 - 14.5)*43,000
Direct labor rate variance= $64,500 unfavorable
Total variance= 241,800 - 64,500= $177,300 favorable
Now, we need to calculate the actual pounds used in production:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
1,200= (5,600*35 - actual quantity)*3
400= 196,000 - actual quantity
actual quantity= 195,600
Actual price= 759,000/230,000= $3.3 per pound
Finally, the direct material price variance:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (3 - 3.3)*759,000
Direct material price variance= $227,700 unfavorable
under the citizen approach of tax jurisdiction, if company A, incorporated in country X, was based in country Y and earned dividends in country Z, the
Answer: c. Country X
Explanation:
Under the Citizenship approach to tax jurisdiction, income accrued will be taxed in the country the company is incorporated in as it is viewed as a "company citizen" of that country.
As such, the dividends in the question will be taxed in Country X which is where Company A was incorporated.