You have been asked to prepare an analysis of the overhead costs in the order processing department of a mail order company like Lillian Vernon Corporation. As an initial step, you prepare a summary of some events that bear on overhead for the most recent period. the variable overhead flexible-budget variance was $5000 unfavorab
Condensed financial data are presented below for the Phoenix Corporation: 2006 2005 Accounts receivable 267,500 230,000 Inventory 312,500 257,500 Total current assets 670,000 565,000 Intangible assets 50,000 60,000 Total assets 825,000 695,000 Current liabilities 252,500 200,000 Long-term liabi
DIVISION ______________________________________ X Y Z Invested capital $2,000,000
(See attached file for full problem description) --- CASES 7-61 Bevans Company makes two products, product X and product Y. Bevans has produced product X for many years without generating any hazardous wastes. Recently, Bevans developed product Y, which is superior to product X in many respects. However, production of prod
Accounting is an information and measurement system that?
4. Oliver and Wendell are the two equal shareholders of Holmes Inc, an S corporation. It made an S election in its first year of operations. Each shareholder has a $10,000 basis in his stock at the beginning of the year. The corporation has $56,000 of net income from operations for the year and made a cash distribution of $80,00
How to calculate return on assets ? annual sales $5,000,000 with a net after tax margin of 5% and a sales to assets ratio of 4
What are some ways to manage your float and how do we measure float?
Fixed cost of restaurant = 21000/month avg bill = 19/customer variable cost s= 10.6 per meal 1. how many meals to attain profit of 8400/month 2. what is break even point per month 3 if fixed costs/rent go to 29925/mo and vaiable costs go to 12.50/meal, af price increase to 23/meal how many meals needed to make 8400/month
Can you help me get started with this assignment? sold 1000 units per month sales = 100000 direct material used = 21000 direct labor = 16000 variable manufacturing overhead = 13000 fixed manufacturing overhead = 14000 contribution margin= 40000 operating income = 22000 1.What are the variable selling & adminis
The Mussina Chemical Company produced three joint products at a joint cost of $117,000. These products were processed further and sold as follows. Chemical product Sales Additional processing Costs A $230,000 $190,000 B
See attached file for full problem description. --- John Ralph owns The Ralph Construction Company (RCC), a C corporation with a September 30, year end. For ten years RCC constructed special-purpose buildings and reported revenues on the percentage-of-completion method. John also owns Construction Equipment, Inc. (CE). CE
(See attached file for full problem description) --- Its income statement is as follows: Sales $2,628,000 Cost of Goods Sold 1,600,000 Gross Profit $1,028,000 Operating expenses: Selling expenses $300,000 Administrative expenses 400,000 Total operating expenses 700,000 Income from
SportsCards Inc. manufactures baseball cards sold in packs of 10 in drugstores and grocery stores throughout the country. It is the second leading firm in an industry with four major firms. SportsCards has been approached by Zip Cereal Inc., which would like to order a special edition of cards to use as a promotion with it new c
(See attached file for full problem description) --- Following is a list of products to be analyzed by value analysis: Classroom desk Bookends Mousetrap Electric Fan Backpack-style book toter Bike handlebars Fireplace grate Bike lock Coaster on which to set drinks Lamp part shown at the right (pic show the part (bla
Banbury Coporation offered to acquire the business operated by Luttrell Inc., in a type C reorganiztion. In addition to it business, Luttrell owns residential rental property ($420,000 FMV and $270,000 adjusted basis) that Banbury does not want. According to the reorganization plan, Banbury will issue voting stock in exchange
The Northern Division of the Kimball Company reported the following data for last year: Sales 800,000 Operating expenses 690,000 Stockholders' equity 250,000 Average operating assets 400,000 Minimum required rate of return 14% Reference: 12-10 The return on investment last year for the Northern D
You have decided to buy a new automobile, and have been gathering information about the purchase price. The manufacturer's website shows a "list price" of $24,500, which includes all of your preferred options- leather trim, CD player, and so on. You have also consulted the "blue book" guide to car prices and found that the ave
12. Scott and associates Inc, is an accounting firm that has three new clients. Project leaders will be assigned to the three clients. Based on the different backgrounds and experience of the leaders, the various leader-client assignments differ in terms of projected completion times. The possible assignments and the estimated
Please describe the interrelationships between 1. Income statement 2. Statement of Changes in Stockholders equity 3. Statement of cash flow 4. Balance sheet
Sounds Electronics, Inc produces a battery-operated tape recorder at plants located in Martinsville, NC, Plymouth, Ny and Franklin, Missouri. The unit transportation cost for shipments from the three plants to distribution centers in Chicago, Dallas, and New York are as follows To From Chicago Dallas New York Martinsvill
Analyze the use of databases in a healthcare organization. (or accounting dept.) Include what database applications are used (Microsoft Access, DB2, Oracle, etc.). What improvements can be made?
Equation Method Moreno Corp. produces products that it sells for $7 each. Variable costs per unit are $4, and annual fixed costs are $81,000. Use the equation method to determine the break-even point in units and dollars.
Dazzle Book Warehouse distributes hardbacks books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. At the end of May, Dazzle's inventory consisted of 240 books purchased at $1,200. During the month of June the following merchandising transactions occurred. June 1 Purchased 130 books on acco
Calculation Of Corporate Tax, Capital allowances, and Adjusted profit for the year after capital allowances
(See attached files for full problem description) --- 1. Calculate Susan's assessable business for the two years of assessment based on her accounts to 30 April 2002. In order to do this: a) Compute the capital allowances for the year. b) Calculate the adjusted profit for the year after capital allowances. c) Calculate
I need help with this problem. I started doing it but I'm not sure if I did it right. So can you please show me how to do it and explain your answers
ConAgra, Inc., produces meat products with brand names such as Healthy Choice, Armour, and Butterball. Suppose one of the company's plants processes beef cattle into various products. For simplicity, assume that there are only three products: steak, hamburger, and hides, and that the average steer costs $700. The three products
(See attached file for full problem description) BOSS NASS COMPANY WORK SHEET FOR THE YEAR ENDED DECEMBER 31, 2002 Adjusted
The Marriott Corporation operates many hotels throughout the world. Suppose one of its Chicago hotels is facing difficult times because of the opening of several new competing hotels. To accommodate its flight personnel, American Airlines has offered Marriott a contract for the coming year that provides a rate of $50 per nig
Stench Foods Company uses a standard cost system to collect costs related to the production of its garlic flavored yogurt. The garlic (materials) standards for each container of yogurt produced are 0.8 ounces of crushed garlic at a standard cost of $2.30 per ounce. During the month of June, Stench purchased 75,000 ounces of
The following materials standards have been established for a particular raw material used in the company's sole product: Standard quantity per unit of output 0.1 pound Standard price $18.20 per pound The following data pertain to operations for the last month: Actual materials purchased 5,700 pounds Act