Marner Mfg. Ltd is looking at modifying one of their key products that currently sells for $255 each and has total costs of $204 each. Sales of this product have begun to decline and Marner needs to do something to boost sales and continue to compete effectively in the market. There are four (4) possible modifications that may b
What are your thoughts about working for a: small company? Medium size company? Large company (SEC) regulated business you own and run? Privately owned company? Public company? Government Organization? Non-profit Organization?
It is my belief that pharmaceutical companies are not justified in charging such high prices for certain medications. There should be a form of leniency in a pharmaceutical companies pricing strategy. Consequently, these companies are taking advantage of the general population that requires medications due to adverse circumstances. Many patients are barely making ends meet and are forced with the decision of what is more important "food" or "prescription drugs?" It appears that in today's society, good health has been issued a very expensive price tag. I often witness patients with severe medical conditions, needing a plethora of medications, and are unable to purchase those medications due to the astronomical charges associated with purchasing the medicines they need. Prescription drug costs tend to vary according to the prescription drug coverage applied or lack thereof, prices ranging from $50-$150 with insurance and $200-$500 without insurance. Should patients suffer the consequences of the pharmaceutical companies integrated high-overhead cost? Or should patients' preventative measures of survival be predicated upon their ability to pay for a corporate executives' salary? Nevertheless a patient's journey of survival is continuous.
Pharmaceutical companies' social responsibilities that may differ from other companies include assisting the public with medicinal needs. These organizations have an obligation to improve medical conditions by introducing new medication to patients globally; build awareness of disease prevention, diagnosis, treatments available
Cost of goods sold for Snowmass Construction Company during 20X1 was $410,000. Beginning inventory was $95,000 and ending inventory was $120,000. Beginning trade accounts payable were $24,000, and ending trade accounts payable were $51,000. What amount of cash did Snowmass pay to suppliers?
Bair Company is a manufacturer of standard and custom-designed bottling equipment. Early in December 20x0 Lyan Company asked Bair to quote a price for a custom-designed bottling machine to be delivered in April. Lyan intends to make a decision on the purchase of such a machine by January 1, so Bair would have the entire first qu
Computation of taxable income. The records for Bosch Co. show this data for 2011: - Gross profit on installment sales recorded on the books was $360,000. Gross profit from collections of installment receivables was $270,000. - Life insurance on officers was $3,800. - Machinery was acquired in January for $300,000. Straig
Computation of taxable income. The records for Orkin Co. show this data for 2011: Gross profit on installment sales recorded on the books was $360,000. Gross profit from collections of installment receivables was $270,000. Life insurance on officers was $3,800. Machinery was acquired in January for $300,000. Strai
See attached file. Motorola and Intel are both in the semiconductor industry and compete in many of the same product sectors. But each uses a different depreciation method. Motorola's Year 2 10-K states the following: Depreciation is recorded principally using the declining -balance method based on the estimated useful liv
19. A company's fabricating department reports the below operating data for this month. What are the equivalent units of production for this month? beginning inventory............... 0 Ending inventory (10% complete............. 10,000 units Units started & Completed...................... 100,000 units a. 100,000 b. 101
Q1. Review (ch.10) After an investigation by the IRS, the following facts were discovered from the books and records of the Shady Tree Nursery, which began business on January 1, 2008. 2008 2009 2010 2011 Gross profit on sales
Please see the attached file. 1. Han Products manufactures 30,000 units of part S-6 each year for use on its production line. At this level of activity, the cost per unit for part S-6 is as follows: Direct materials $ 3.60 Direct labor 10.00 Variable manufacturing overhead 2.40 Fixed manufacturing overhead 9.00
Assume that today is December 31, 2008, and that the following information applies to Vermeil Airlines: â?¢ After tax operating income [EBIT (1 â?"T)] for 2009 is expected to be $500 million. â?¢ The depreciation expense for 2009 is expected to be $100 million. â?¢ The capital expenditures for 2009 are expected t
The CEO of a large corporation was determined to see that an active and effective committee of the Board would perform in an excellent manner. In this stead the CEO, who was also the Chairman of the board, had himself appointed Chairman of the Board audit committee. The CEO asked the board to approve his selection of the other
1. Identify and discuss why accounting rules require mark to market accounting for certain financial instruments, but continue to require the use of historical cost for other assets such as land, building, equipment etc. 2. What makes mark to market accounting so controversial? Explain whether you support or oppose the use of
1) Management accounting and financial accounting are really the same thing. One is just more formal than the other is. Do you agree with this statement? Explain. 2) A few years ago, the Chariot Manufacturing Company installed automated robots worth billions of dollars in its auto assembly lines, believing that the robots
Haley Paper Company operate a 300-ton-per-day Kraft pulp mill and four sawmills in Wisconsin. The company is in the process of expanding its pulp mill facilities to a capacity of 1,000 tons per day and plans to replace three of its older, less efficient sawmills with an expanded facility. One of the mills to be replaced did no
Francis Corporation purchased an asset at a cost of $50,000 on March 1, 2010. The asset has a useful life of 8 years and a salvage value of $4,000. For tax purposes, the MACRS class life is 5 years. Compute tax depreciation for each year 2010-2011.
Austin Grocers recently reported the following 2008 income statement (in millions of dollars): Sales $700 Operating costs including depreciation 500 EBIT $200 Interest 40 EBT $160 Taxes (40%) 64 Net income $ 96 Dividends
The company report shows that the taxable income is not the same as the net income on the financial statements. Does this cause a problem? Please provide a full response for a full understanding of the topic.
The Kaempfert Corp. sold 1,000,000 units of its unique product last year. The selling price for this product was $5.00 per unit, variable costs were $4.75 per unit and total fixed costs for the year were $600,000. For the upcoming year Kaempfert expects that volume and total fixed costs will not change, and that variable costs w
MuNu Ltd. manufactures three different products - Oceanus, Tethys and Themis - with the sales mix having remained relatively constant over the past few years. Financial results for the past year are: Product # of Units Sold Selling Price per Unit Variable Cost per Unit Oceanus 95,000 $15
Activity Based Costing Below find Millie's income statement. Millie's Linen Company For the year ended 12-31-XX Sales $500,000 Variable Production Costs 150,000 Contribution Margin $350,000 Fixed Costs: Production Overhead $120,000 Sellling & Distribution Costs 180,000
ABC foods has three product lines: Bakes, wet and frozen. ABC has four activity pools: ordering, delivering, and stocking with cost of $100/order and $80/delivery and $20/hour. Revenue= 57,000 63,000 52,000 COGS 38.000 47,000 35,000 Purchase Orders 30
Fresh flyer sandwiches started up this month and used up of DM =900,000, DL =750,000 and applied MO=250,000 (with MO applied on DL$) EWIP had one job with DM 132,600 and DL =90,000. Ending RM=100,000, Overapplied MO was 93,000. Selling prices were twice Cost and EFG= 100,000. Period expenses were 45,000. Jornalize and post ap
See the attached file. Not sure what is being asked for the second part. Chapter 3, problem 3-41 High-Low Method Manchester Foundry produced 45,000 tons of steel in March at a cost of £1,150,000. In April, the foundry produced 35,000 tons at a cost of £950,000. Using only these two data points, determine the cost funct
What is the SEC and how is it involved with accounting standard setting? Give an example of a major investing activity cash outflow that would be reported the statement of cash flows for a manufacturing company. Explain the purpose of disclosure notes on significant accounting policies. Provide two examples of what migh
Which of the following is true about disbursement float? a. Funds are removed from the checking account immediately when the check clears the checking account. b. Funds are deposited to a checking account immediately when a check is written. c. Funds are collected and credited to an account.
The largest part of business accounts payable is normally: a. obligations of our firm that were obtained by purchasing inventory on credit. b. obligations of a firm that were accumulated and are owed to governmental agencies. c. the monthly payroll owed to employees. d. the monthly obligat
Break-even analysis is the process of determining ___________ before we begin earning a profit. a. how many units must be produced, or how much revenue must be obtained b. how much net profit will be made, or how many units will be produced c. how much revenue must be obtained, or how much net profi
You have invested $5,000 in the Cog Corporation and $5,000 in the Gear Corporation. Both of these corporations have $100 million in total assets. The Cog Corporation had a net profit of $10 million and the Gear Corporation had a net profit of $5 million. You read their annual reports and both companies had established a goal of