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Accounting

Make or Buy

Using Excel goal seek and solver please help me with this problem The Minnetonka Corporation, which produces and sells to wholesalers a highly successful line of water skis, has decided to diversify to stabilize sales throughout the year. The company is considering the production of cross-country skis. After considerable

Overhead Problems

Equations and theories behind solving for overhead for companies Tortolla Company is a manufacturing firm that uses a job-order costing system. The company uses machine hours to apply overhead to work in process. On January 1, Tortolla's management estimated that it would incur $700,000 in manufacturing overhead costs an

Journalizing with discounts

On January 1, 2002, Case Western Company had Accounts Receivable of $54,200 and Allowance for Doubtful Accounts of $4,700. Case Western Company prepares financial statements annually. During the year the following selected transactions occurred.Jan. 5 Sold $7,000 of merchandise to Garth Brooks Company, terms n/30. Feb. 2 Acc

Please review

Please review my computations. I need help with part D, please. --- AFN produces plastic that is used for injection molding applications such as gears for small motors. In 2002, the first year of operations, AFN produced 4,000 tons of plastic and sold 3,000 tons. In 2003, the productin and sales results were exactly reversed

Financial ratios: Identify four ratios and indicate what they tell about a company

Financial ratios are important to the understanding of the financial health of a company. You and your colleagues work for a financial services firm. Your are discussing the merits of the various financial ratios. Identify four financial ratios and state what they tell you about a firm and why it's important to understand what t

ACCOUNTING CASE ONE PAGE

This is for Accounting utilizing Accounting for Decision Making and Control, 5th edition by Jerold L. Zimmerman Formula 409 "I used to run the company that made formula 409, the spray cleaner. From modest entrepreneurial beginnings, we'd gone national and shipped the hell out of P&G, Colgate, Drackett, and every other gia

Accounting problem

(See attached file for full problem description) --- This is for Accounting utilizing Accounting for Decision Making and Control, 5th edition, by Jerold L. Zimmerman. Each question should be approximately one to two full pages to allow a thorough discussion of the case material. Typed double space. Candice Company Candi

Accounting Final Exam (Practice)

1. On January 31, an entity's balance sheet showed total assets of $750 and liabilities of $250. Owners' equity at January 31 was: A) $ 500 B) $1,000 C) $ 750 D) $ 250 Use the following to answer questions 2 - 3: At the beginning of the fiscal year, the b

Maximize profits

Let's maximize profits through FASB statement NO. 115 Fasb statement no. 115 is another example of the boards emphasis on the balance sheet as contrasted with the income statement . As treasurer of diamond instrument , you desire to maximize income over the short run . Diamond has had excess cash , and you have chosen to inv

Standard versus actual costs

This is a problem from my management accounting homework. I don't am confused b/c there is so much information missing from the problem...but then, they wouldn't leave out information that we need, so I know I am wrong in what I am starting to do... The question is...for each of the following 2 jobs making 2 different produc

Gainsharing

This is a problem from my Management Accounting textbook by Kaplan, Young, and Atkinson - fourth edition. It is about gainsharing. A company manufactures breakfast cereals. The production workers are part of a gainsharing program that works like this: A target level of labor costs is set based on the achieved level of prod

3 Accounting Questions

1. Rockwell Paper Company had earnings after taxes of $580,000 in the year 2003 with 400,000 shares of stock outstanding. On January 1, 2004, the firm issued 35,000 new shares. Because of the proceeds from these new shares and other operating improvements, earnings after taxes increased by 25% (a) Compute earning per share f

Controlling Cash

Which of the following is not a method to control cash? A. Using electronic funds transfers B. Using bank accounts C. Using a petty cash fund D. Performing surprise cash counts

Cost Allocation & Activity Based Costing: Overhead Costs

1. Using activity-based systems, the stage of the management cycle that identifies actions that will reduce the full product or service cost is a. planning. b. executing. c. reviewing. d. reporting. 2. Lasso Corp. budgeted $250,000 of overhead cost for 2001. Actual overhead costs for the year were $240,0

PREPARE A PERFORMANCE REPORT

SUPPOSE THAT FOR 20X1 A PARTICULAR STORE BUDGETED REVENUE OF $220,000, A 10% INCREASE OVER THE CURRENT REVENUE OF $200,00. THE ACTIONS LISTED IN EXIBIT 1-2 RESULTED IN SIX NEW BUDGETED PRODUCTS AND A TOTAL ADVERTISING BUDGET OF $15,000. ACTUAL RESULTS WERE _____________________________________ NEW DRINKS

How much would Division 3's income from operations increase?

Materials used by Aero-Products Inc. in producing Division 3's product are currently purchasing from outside suppliers at a cost of $5 per unit. However, the same materials are available from Division 6. Division 6 has unused capacity and can produce the materials needed by Division 3 at a variable cost of $3 per unit. A tran

1. Prepare Jones' Department A Cost of Production Report for October 2. Determine (a) the estimated sales in units of the overall product necessary to reach the breakeven point for the coming year, (b) the estimated number of units of each product necessary to be sold to reach the breakeven point for the coming year, and (c) the estimated sales in units of the overall product necessary to realize an operating income of $119,600 for the coming year.

1. Jones Co. manufactures a product called Zenns in a three-process series. All materials are introduced at the beginning of the first process. Jones uses the first-in, first-out method of inventory costing. Unit and cost data for the first process (Department A) for the month of October 2003 follow: Units Completion Cost Work

Payroll, FICA tax, Gross pay

Other accrued liabilities-payroll. The following summary data for the payroll period ended on November 14, 2003, are available for Brac Construction, Ltd.: Gross pay . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ? FICA tax withholdings . . . . . . . . . . . . . . . . . . . . . . ? Income tax withh

Determine the Contribution Margin, Annual Break-even Point & Operating Income

Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-hour week and a 50-week year, regardless of the number of haircuts. Rent and other fixed expenses are $1,750 per month. Assume that the only ser

Accounting questions - Matching Review

Please assist me with these questions (also attached): MATCHING Instructions: Designate the terminology that best represents the definition or statement given below by placing the identifying letter(s)in the space provided. No letter should be used more than once. A. Additions and improvements AA. Internal control B. A

Overhead Cost / Variance Questions

Please assist me with these questions ... Thank you! See attached excel file. 11. In the direct labor variance matrix, there are three factors: (1) Actual hours à? Actual rate, (2) Actual hours à? Standard rate, and (3) Standard hours à? Standard rate. Using the numbers, indicate the formulas for each of the direct l

Accounting questions

Please help with answering multiple choice in the attached doc. 42. Under the corporate form of business organization a. a stockholder is personally liable for the debts of the corporation. b. stockholders' acts can bind the corporation even though the stockholders have not been appointed as agents of the corporation. c. t