Please see the attached file. 1) The job cost sheet for 1,000 units of toy trucks is: Job Number 555 Date Started 4/13 Date Completed 6/18 Raw Materials Direct Labor Date Type Cost Qty. Amount Cost Hours Amount 4/13 565 $ 3 1,000 $3,000 $18 20 $ 360 5/24 889 1 4,000 4,000 12 10 120 6/18
Please help with the following accounting problem. The Huffman Corporation manufactures a single product with the following full unit costs at a volume of 2,000 units: Direct materials $ 400 Direct labor $ 160 Manufacturing overhead (30% variable) $ 300 Selling expenses (50% variable) $ 150 Administrative expenses (10
The following information pertains to Berry Company: Selling price per unit $50 Variable costs per unit $30 Total fixed costs $100,000 What level of sales dollars is needed to obtain a target pretax profit of $20,000? Could someone please show me a step by step solution to this practice problem?
The Ponder Manufacturing Company wants to develop a cost estimating equation for its monthly cost of electricity. It has the following data: Cost of Electricity Direct Labor- Month (Y) Hours (X) January $13,000 1,500 April $15,000 1,700 July $17,000 2,000 October $14,500 1,600 What would be the best equation using th
Donald Erickson uses gas to heat his home. He has accumulated the following information regarding his monthly gas bill and monthly heating degree-days. The heating degree-days value for a month is found by first subtracting the average temperature for each day from 65 degrees and then summing these daily amounts together for the
Shateria of Zurich, Switzerland, has just introduced a new fashion watch for which the company is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each SFr2 per unit reduction in the selling price. (SFr2 denotes 2 Swiss francs.) The company's present sellin
Hi, Can someone review the below e-mail and make any suggestions/comments on how to improve the flow of the e-mail? Thanks. Hi Darren, I've been working on the Related Party Reconciliation and I am still continuing to understand and learn about the activity that is posted to this account for the off balance sheet pools.
The Hum Division of the Ho Company reported the following data for last year: Sales $800,000 Operating expenses $650,000 Interest expense $50,000 Tax expense $30,000 Stockholders' equity $200,000 Average operating assets $600,000 Minimum required rate of return 12% 9(b). The residual income for the Hum
WM has 25 million shares outstanding. Shares are trading at $8.00. WM management plans to raise $60 million to by issuing debt to repurchase shares. Suppose that WM is an all equity firm before the debt issue, it is subject to 36% corporate tax rate, its cost of debt is 5% and equity cost of capital is 10%. a. What is the
Acton Company has two products: A and B. The annual production and sales of Product A is 800 units and of Product B is 500 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. The company is considering switching to an activity-based costing system for th
I am severely confused by the problem, if you can just help me pinpoint what to do. P7-1A Pro Sports Inc. manufactures basketballs for the National Basketball Association (NBA). For the first 6 months of 2008, the company reported the following operating results while operating at 90% of plant capacity and producing 112,500
Prepare a 700-1,050-word paper in which you define the purpose of accounting and identify the four basic financial statements. Be sure to explain how they are interrelated with each other, and why they are useful to managers, investors, creditors, and employees.
Computing unit product costs for two products using a conventional costing system and also computing using an activity based costing system. --------------------------- A company makes two products and uses a conventional costing system in which a single plantwise predetermined overhead rate is computed based on direct la
Zeta Corporation reports the following results for 2006 and 2007: Adjusted taxable income $180,000 $125,000 Charitable contributions (cash) 20,000 12,000. The adjusted taxable income is before Zeta claims any charitable contributions deduction, NOL or capital loss carryback, dividends-received deduction, or U.S. production
5 66 1. Caltex computer, operating income: $14,000 FiberCom, Inc. manufactures fiber optic cables for the computer and telecommunications industries. At the request of the company vice president of marketing, the cost management staff has recently completed a customer-profitability study. The following activity-based costing
Marco's just reported an EPS of $1.68 on revenues of $440 million. The company has 12 million shares outstanding. Total assets are $280 million, current liabilities equal $48 million, and long-term debt is $112 million. Net fixed assets are worth $230 million. Given this information, which one of the following statements is corr
1. Efficient portfolios are portfolios that: (A) Offer the highest rate of return for the same amount of risk. (B) Offer the lowest rate of return for the same amount of risk. (C) Offer the lowest amount of risk for the same amount of return. (D) Both A and C 2. If IS and DS are combined in a portfolio with 50% invested i
1. A security has an expected return of 10% and a standard deviation of .03. If the security is normally distributed, about 68% of the time the security return will be: (A) Between 4% and 10%. (B) Between 7% and 10%. (C) Between 7% and 13%. (D) Between 10% and 13% 2. Kids Toy Co. has had total returns over the past five y
1. The prices for IMB over the last 3 years are given below. Assuming no dividends were paid, what was the 3-year holding period return? Year Price 0 $70 1 $64 2 $68 3 $80 (A) 17.65% (B) 5.11% (C) 14.29% (D) ?8.57% 2. An investor bought 100 shares of stock at $20 each. At the end of the year, the investor received a
Idaho Slopes (IS) and Dakota Steppes (DS) are both seasonal businesses. IS is a downhill skiing facility, while DS is a tour company that specializes in walking tours and camping. The returns on each company over the next year are expected to be: Economy; Idaho Slopes; Dakota Steppes Strong Downturn; -10%; 2% Mild
State of Economy - Probability - Smith Stores Returns Depression .05 -50% Recession .10 -15% Mild Slowdown .20 5% Normal .30 15% Broad Expansion
The following differences between financial and taxable income were reported by Dider Corporation for the current year. (a) Excess of tax depreciation over book depreciation $60,000 (b) Interest revenue on municipal bonds 9,000 (c) Excess of estimated warranty expense over actual exp
Recognize the loss: Can a taxpayer who realizes a loss on the exchange of like-kind property elect to recognize the loss?
A taxpayer who realizes a loss on the exchange of like-kind property can elect to recognize the loss.
The sales tax laws of many states exempt the purchase of groceries and prescription drugs from tax. Such exemptions are intended to improved the: A. Convenience of the tax B. Equity of the tax C. Sufficiency of the tax D. Neutrality of the tax
Make adjusting entries, provide Income statement, balance statement, retained earnings statement and provide trial balance. UNDERCOVER ROOFING INC. Work Sheet For the Month Ended March 31, 2006
A firm has fixed costs of $60 and varable costs as indicated in the table below. Complete the table. (a) Graph total fixed cost, total varable cost, and total cost. Explain how the law of diminishing returns influences the shapes of the variable-cost and total-cost curves. (b) Graph AFC, AVC ATC and MC. Explain the derivat
The team had to select a commercial Website and prepare and present an 8-10-minute presentation evaluating the following site characteristics. I need help in writing an analysis on: The design, including use of graphics, color, and multimedia - 1 slide with author notes on Proflowers. The link is proflowers.com
Please, I need help writing a memo for the assignment below. Your department's accounting software is extremely outdated, and you have included the purchase of new software in this year's fiscal budget. You have decided it is time to start looking into purchasing your company's accounting software and have chosen someone in y
Which of the following tax policies would increase the redistribution of wealth across society? A. Repealing the federal estate and gift taxes B. Increasing the highest marginal income tax rate by 10% C. Replacing the progressive income tax rate structure with a flat rate D. Replacing the income tax with a national sales tax
Holter Inc. owns an investment that generated $120,000 cash revenue and required $26,500 cash expenses this year. Holter's marginal tax rate is 30%. Which of the following statements is false? A. Holter's before-tax cash flow is $93,500 B. If the revenue is taxable, but only $19,000 of the expenses are deductible, Holter's