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Service Department Charges In divisional income statements prepared for Mills Construction Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll checks, and the Purchasing Department costs are charged back on the basis of the number of purchase requisitions. The Payroll Department had expenses of $69,168, and the Purchasing Department had expenses of $28,160 for the year. The following annual data for Residential, Commercial, and Government Contract divisions were obtained from corporate records: Residential Commercial Government Contract Sales $ 589,000 $ 780,000 $ 1,791,000 Number of employees: Weekly payroll (52 weeks per year) 250 80 85 Monthly payroll 38 49 36 Number of purchase requisitions per year 2,700 1,900 1,800 a. Determine the total amount of payroll checks and purchase requisitions processed per year by the company and each division. Residential Commercial Government Contract Total Number of payroll checks: Weekly payroll Monthly payroll Total Number of purchase requisitions per year: b. Using the activity base information in (a), determine the annual amount of payroll and purchasing costs charged back to the Residential, Commercial, and Government Contract divisions from payroll and purchasing services. If required, round your answers to two decimal places. Do not round your interim calculations, round your answers to two decimal places, if required. Service department charge rates: Payroll Department $ per check Purchasing Department $ per requisition Residential Commercial Government Contract Total Service department charges: Payroll Department $ $ $ $ Purchasing Department $ $ $ $ Total $ $ $ c. Residential's service department charge is than the other two divisions because Residential is a user of service department services. Residential has many employees on a weekly payroll, which translates into a number of check-issuing transactions.
The Evanec Company's next expected dividend, D1, is $3.15; its growth rate is 4%; and its common stock now sells for $30. New stock (external equity) can be sold to net $28.50 per share. What is Evanec's cost of retained earnings, rs?
Suppose you know a company's stock currently sells for $100 per share and the required return on the stock is 9 percent. You also know that the total return on the stock is evenly divided between a capital gains yield and a dividend yield. What is th..
If 6% coupon three year Commonwealth bond Futures contracts are currently trading at a price of 95.505, how many contracts does the portfolio manager need to buy/sell to hedge the portfolio? Explain the reasons why you think this may be an incompl..
Your firm is contemplating the purchase of a new $570,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. If the tax rate is 35 percent, what is the IRR for this project?
Annual interest rates consider the effect of interest earned on reinvested interest payments: When comparing loans, you should compare the effective annual rates: Annual and effective interest rates are equal when interest is compounded annually:
you are required to develop a case study for a company or product of your choice evaluating the supply chain. in the
A bond with a maturity of 18 years sells for $1,108. If the coupon rate is 7.6 percent, what is the yield to maturity of the bond?
Jendra Enterprises has never paid a dividend. Free cash flow is projected to be $80,000 and $100,000 for the next 2 years, respectively; after the second year, FCF is expected to grow at a constant rate of 8%. the company’s weighted average cost of c..
Consider a homebuyer/investor who plans to buy a new house, the price of which is 1 million dollars. Suppose the buyer does not have any initial savings for the down payment. That is, if the mortgage asks him to repay more than $ 50,000 per year (thi..
What is the value of a bond that matures in 17 years makes an annual coupon payment of $50 and has a par value of $1,000. Assume a required rate of return of 6%
Merton Enterprises has bonds on the market making annual payments, with 12 years to maturity, and selling for $963. At this price, the bonds yield 7.5 percent. What must the coupon rate be on Merton’s bonds?
Scott purchased 200 shares of Frozen Foods stock for $48 a share. Four months later, he received a dividend of $0.22 a share and also sold the shares for $42 each. What was his annualized rate of return on this investment?
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