Wally Company makes dog beds. Last year Wally incurred the following costs related to quality control. What is Wally Company's cost of quality for internal failures? 1. Repairs for dog beds under warranty 2,127 2. Seamstress training 822 3. Wages of part-time inspector of products 1,314 4. Cost of replacements given to customers for defective dog beds 1,460 5. Product liability insurance 3,931 6. Inspection of sewing machines as part of routine maintenance 3,295 7. Inspection of fabric and thread for defects 1,661 8. Repairing defective dog beds prior to sale 1,651

Answer: $1,651

Explanation:

The only cost for Internal failure is Repairing the dog beds prior to sale which is $1,651.

The other costs are classified as;

Wally Company's cost of quality for internal failures is $1,651

= repairing defective dog

= $1,651

We know that

Repairs for dog beds under warranty - External failure cost

Seamstress training. - Prevention cost

Wages of part-time inspector of products - Appraisal cost

Cost of replacements given to customers for defective dog beds - External failure cost

Product liability insurance - External failure cost

Inspection of sewing machines as part of routine maintenance -Appraisal cost

Inspection of fabric and thread for defects - Appraisal cost

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Tonya operates a nail salon as a sole proprietorship. Tonya also owns and rents an apartment building. This year Tonya had the following income and expenses. Determine Tonya's AGI (rounded to the nearest dollar). You may assume that Tonya will owe $6,255 in self-employment tax on her salon income, with $3,128 representing the employer portion of the self-employment tax. You may also assume that her divorce from Ted was finalized in 2016.
Interest income $ 28,138
Interest expense on qualified loan to fund dependent son's college tuition 2,000
Salon sales and revenue 215,900
Salaries paid to beauticians 113,125
Nail salon supplies 58,500
Alimony paid to her ex-husband, Ted 15,000
Rental revenue from apartment building 78,050
Depreciation on apartment building 32,250
Real estate taxes paid on apartment building 27,750 Real estate taxes paid on personal residence 15,603 Contributions to charity 10,593

why might someone be a poor fit for a retail position?

A. Because they don’t have any sales experience
B. Because they don’t have strong interpersonal skills
C. Because they can’t grow within their position
D. Because they don’t have a four year degree

Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [LO3-1, LO3-2, LO3-4] The following information is taken from the accounts of Latta Company. The entries in the T-accounts are summaries of the transactions that affected those accounts during the year. Manufacturing Overhead (a) 499,968 (b) 416,640 Bal. 83,328 Work in Process Bal. 5,360 (c) 778,000 319,500 93,500 (b) 416,640 Bal. 57,000 Finished Goods Bal. 33,000 (d) 674,000 (c) 778,000 Bal. 137,000 Cost of Goods Sold (d) 674,000 The overhead that had been applied to production during the year is distributed among Work in Process, Finished Goods, and Cost of Goods Sold as of the end of the year as follows:
Work in Process, ending $ 27,360
Finished Goods, ending 65,760
Cost of Goods Sold 323,520
Overhead applied $ 416,640
For example, of the $57,000 ending balance in work in process, $27,360 was overhead that had been applied during the year. Required:
1. Identify reasons for entries (a) through (d).
2. Assume that the underapplied or overapplied overhead is closed to Cost of Goods Sold. Prepare the necessary journal entry.
3. Assume that the underapplied or overapplied overhead is closed proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the necessary journal entry.

Does Diamond’s recording of the August 2010 ‘‘continuity’’ payments and August/September 2011 ‘‘momentum’’ payments as the purchases of fiscal 2010 and fiscal 2011, respectively, comply with the U.S. GAAP (Generally Accepted Accounting Principles)? Why or why not? Provide support from the accounting literature, including the FASB Concept Statements, in support of your argument

A father and mother are planning a savings program to put their daughter through college. Their daughter is now 8 years old. She plans to enroll at the university when she is 18 and it should take her 4 years to complete her education. Currently, the cost per year (for tuition, etc.) is $16,200, but a 2 percent inflation rate in these costs is forecasted. The cost for each year of college will be withdrawn when she turns 18, 19, 20, and 21. The daughter received $13,000 at age 4 and another $2,900 at age 6 from her grandmother; this money, which is invested in an account earning 7.5 percent interest compounded annually, will be used to help meet the costs of the daughter's education. The rest of the costs will be met by money the parents will deposit in the savings account. They will make 4 equal annual deposits to the account, with the first deposit being made today on her 8th birthday and the last one being made on her 11th birthday. These deposits will also earn 7.5 percent interest compounded annually. How large must each deposit (from the parents) be in order to put the daughter through college

supposes there is economic profit being made in the garbage bag industry. Over time, we should expect which of the following things to happen?

Toyota has been working alongside us for years, but we just heard the bad news: they’re not renewing our electric vehicle (EV) collaboration when the current project is completed. Their research and development (R&D) team feels that they’ve finally caught up, and they’re going to start using their own EV components in their cars—even though the range is less than ours, the components are less expensive.This represents an example of which of the following competitive forces?a. Bargaining power of suppliersb. Bargaining power of buyers (customers)

If an investment of $40,000 is earning an interest rate of 12.00%, compounded annually, then it will take for this investment to reach a value of $56,197.12—assuming that no additional deposits or withdrawals are made during this time. Which of the following statements is true—assuming that no additional deposits or withdrawals are made? If you invest $5 today at 15% annual compound interest for 82.3753 years, you’ll end up with $100,000. If you invest $1 today at 15% annual compound interest for 82.3753 years, you’ll end up with $100,000.

What is an example of brand promotion

A.charging a premium

B.providing a warranty

C.providing after-sales service

D.attending a trade show

Opportunity costs are _____.


the costs related to the product that have to be paid regardless of the amount you sell

the costs that change depending on a company's performance

the costs resulting from a business owner's choice when selecting one thing over another and how it will impact the business

none of the above

Which of the following statements is true concerning the consequences of rent​ controls? A. Construction companies are big winners because more housing units are being built due to guaranteed rental income. B. Low income earners are big winners since it is easier to obtain housing. C. Property owners are big winners since they receive a guaranteed amount of rent. D. Upper income earners are big winners due to the fact that they can better exploit nonprice rationing devices. E. All of the above.

Required information [The following information applies to the questions displayed below.] During April, the first production department of a process manufacturing system completed its work on 310,000 units of a product and transferred them to the next department. Of these transferred units, 62,000 were in process in the production department at the beginning of April and 248,000 were started and completed in April. April's beginning inventory units were 70% complete with respect to materials and 30% complete with respect to conversion. At the end of April, 84,000 additional units were in process in the production department and were 90% complete with respect to materials and 40% complete with respect to conversion. Compute the number of equivalent units with respect to both materials used and conversion used in the first production department for April using the weighted-average method.

Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:
Molding Finishing Total
Estimated total machine-hours (MHs) 3,250 3,000 6,250
Estimated total fixed manufacturing overhead cost $27,000 $4,700 $31,700
Estimated variable manufacturing overhead cost per MH $ 1.00 $ 2.00
During the most recent month, the company started and completed two jobs--Job A and Job M. There were no beginning inventories. Data concerning those two jobs follow:
Job A Job M
Direct materials $15,900 $ 9,700
Direct labor cost $ 23,000 $ 9,500
Molding machine-hours 1,250 2,000
Finishing machine-hours 1,750 500
Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 30% on manufacturing cost to establish selling prices. The calculated selling price for Job A is closest to: (Round your intermediate calculations to 2 decimal places.)
a) $58,550
b) $99,500
c) $76,115
d) $17,565

During the month your company paid for gasoline for the company vehicles using the company credit card issued by First Bank. Match the journal entries that are prepared behind the scenes with the corresponding transaction or event that has occurred in QBO. Record purchases on credit card as an Expense Transaction. Answer 1 DR: Gasoline expense, CR: Credit Card payable Reconcile the credit card account and enter a bill for payment later. Answer 2 Choose... Pay the credit card bill with a check

Jing Company was started on January 1, Year 1 when it issued common stock for $36,000 cash. Also, on January 1, Year 1 the company purchased office equipment that cost $16,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,100. The equipment had a five-year useful life and a $5,800 expected salvage value. Using double-declining-balance depreciation, what the amount of depreciation expense and the amount of accumulated depreciation, respectively, that would appear on the December 31, Year 3 financial statements

Kalani is an account executive with a medical device company that sells sophisticated camera equipment used in surgical procedures such as knee and hip surgery. Therefore, she primarily works with orthopedic surgeons and hospital surgical departments to promote her company's products. Kalani's territory includes five counties in the southwestern part of Tennessee. Kalani can easily visit each customer account once a month to maintain contact. What is the primary difference between business markets and the consumer markets described by Kalani's customer accounts

The environmental protection agency of a county would like to preserve a piece of land as a wilderness area. The current owner has offered to lease the land to the county for 20 years in return for a lump-sum payment of $1.1 million, which would be paid at the beginning of the 20-year period. The agency has estimated that the land would generate $110,000 per year in benefits to hunters, bird watchers, and hikers. Assume that the lease price represents the social opportunity cost of the land and that the appropriate real discount rate is 4 percent.
a. Assuming that the yearly benefits, which are measured in real dollars, accrue at the end of each of the 20 years, calculate the net benefits of leasing the land. Should the environmental protection agency pay for this piece of land?
b. Some analysts in the agency argue that the annual real benefits are likely to grow at a rate of 2 percent per year due to increasing population and county income. Recalculate the net benefits assuming that they are correct. Should the environmental protection agency pay for this piece of land?

Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year: Jan. 1 Inventory 4,000 units at $40 Apr. 19 Sale 2,500 units June 30 Purchase 4,500 units at $44 Sept. 2 Sale 5,000 units Nov. 15 Purchase 2,000 units at $46 The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5.

Consider, in 2010, there was only one movie produced by Marvel Studios(Iron Man 2). In 2018, there were three (Black Panther, Avengers: Infinity War, and Ant-Man and the Wasp).
a) Find a linear model that shows how many MCU films are made each year (use xx to be years since 2010) using the data above.
b) With the model found in (a), how many MCU films should release in 2020?

Suppose you run a software company and you want to determine if there is a difference between the 'debugging unit' (population 1) and 'after sales services unit' (population 2) by considering the return on investment for each unit. you have acsess to information from a random survey which is done for 24 companies for population 1 which reveals that the average return on investment (ROI) for each dollar you invest is.12, while for population, the survey is performed on 30 companies and the average ROI is found to be .30. You also know from the previously published results that the standard deviation for any ROI in the software industry is .25 What is the value of the test statistic for your research hypothesis?
a. -1.3145.
b. -1.2728.
c. -2.3738.
d. -2.2411.
e. -2.6291.

The following information pertains to Bridgeport Co.:
Preferred stock, cumulative:
Par value per share $100
Dividend rate 6%
Shares outstanding 10,000
Dividends in arrears none
Common stock:
Par value per share $10
Shares issued 140,000
Dividends paid per share $1.80
Market price per share $52
Additional paid-in capital $500,000
Unappropriated retained
earnings (after closing) $280,000
Retained earnings
appropriated for
contingencies $300,000
Common treasury stock:
Number of shares 10,000
Total cost $250,000
Net income $580,000
Compute (assume no changes in balances during the past year):
A) Total amount of stockholders' equity in the balance sheet.
B) Earnings per share of common stock.
C) Book value per share of common stock.
D) Payout ratio of common stock.
E) Return on common stock equity per share per share.

Which of the following is the correct order of market structure from most competitive to least?

Monopoly, Oligopoly, Monopolistic Competition, Perfect Competition

Perfect Competition, Monopoly, Monopolistic Competition, Oligopoly

Oligopoly, Perfect Competition, Monopolistic Competition, Monopoly

Perfect Competition, Monopolistic Competition, Oligopoly, Monopoly

Average stock of raw material and raw material consumption per annum are Rs.1,24,000 and Rs.8,42,000 respectively. Consider 365days. Calculate raw material consumption period.

The laws passed by Congress and by state legislatures are called:

Candlewood LLC started business on August 1, and it adopted a calendar tax year. During the year, Candlewood incurred $10,950 in legal fees for drafting the LLC's operating agreement and $5,475 in accounting fees for tax advice of an organizational nature, for a total of $16,425 of organizational costs. Candlewood also incurred $22,000 of preopening advertising expenses and $31,000 of salaries and training costs for new employees before opening for business, for a total of $53,000 of startup costs. The LLC wants to take the largest deduction available for these costs. If required, round any division to six decimal places and use in subsequent computations. Round your final answers to the nearest dollar. How much can Candlewood deduct as organizational expenses

X reported the following unit costs information associated with one of its products A1: Direct materials $110 Direct manufacturing labor 90 Variable manufacturing overhead 45 Fixed manufacturing overhead 33 Sales commissions (2% of sales) 10 Research & Development 20 After-sales support 5 Administrative salaries 28 Round your answers to the nearest dollar. Fill in the blank without $ or comma or period, e.g., 12345 What are the direct variable costs per unit associated with Product A1?

How can the federal reserve influence the interest rate on credit cards?
A. By shutting down credit card companies that set rates too high.
B. By raising taxes on companies that provide high-interest credit cards.
C.By adjusting the discount rate banks pay to borrow.
D.By setting up federal credit card companies with low rates.

Roca, Inc., manufactures and sells two products: Product M6 and Product X7. The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Activity Cost Pools Activity Measures Estimated MOH Cost Expected Activity Product M6 Product X7 Total Labor related DLH $152,100 3,000 4,800 7,800 Product orders orders $63,035 400 300 700 Order size Machine hours $505,452 3,700 3,600 7,300 The total overhead to be applied to Product X7 using activity-based costing is closest to:

1. You will receive a Financial Aid Award Letter... *
Before you have completed the FAFSA
After you have completed the FAFSA and applied to colleges
After you have completed the FAFSA and have been accepted to colleges
O After you have started your first semester of classes

Assume that Minneapolis’ sales by major market are: Market Minneapolis Medical Dental Sales $ 390,000 100 % $ 260,000 100 % $ 130,000 100 % Variable expenses 234,000 60 % 169,000 65 % 65,000 50 % Contribution margin 156,000 40 % 91,000 35 % 65,000 50 % Traceable fixed expenses 46,800 12 % 13,000 5 % 33,800 26 % Market segment margin 109,200 28 % $ 78,000 30 % $ 31,200 24 % Common fixed expenses not traceable to markets 11,700 3 % Office segment margin $ 97,500 25 % The company would like to initiate an intensive advertising campaign in one of the two market segments during the next month. The campaign would cost $5,200. Marketing studies indicate that such a campaign would increase sales in the Medical market by $45,500 or increase sales in the Dental market by $39,000. Required: 1. How much would the company's profits increase (decrease) if it implemented the advertising campaign in the Medical Market? 2. How much would the company's profits increase (decrease) if it implemented the advertising campaign in the Dental Market? 3. In which of the markets would you recommend that the company focus its advertising campaign?