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Accounting

BMW engine component: make or buy

Please see the attached file. 1. Make or Buy Suppose a BMW executive in Germany is trying to decide whether the company should continue to manufacture an engine component or purchase it from Frankfurt Corporation for 50 euros each. Demand for the coming year is expected to be the same as for the current year, 200,000 units.

The International Company: compute budgeted selling and administrative expenses

See the attached file The International Company makes and sells only one product, Product SW. The company is in the process of preparing its Selling and Administrative Expense Budget for the last half of the year. If the company has budgeted to sell 24,000 units of Product SW in September, then the total budgeted fixed se

Carver Lumber: cash balance at the end of December would be?

Carver Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow: - Sales are budgeted at $450,000 for November, $380,000 for December, and $280,000 for January. - Collections are expected to be 87% in the month of sale, 8% in the

Units should be produced during the first quarter

Question 13: Betz Company's sales budget shows the following projections for next year: Sales in units First Quarter 60,000 Second Quarter 82,000 Third Quarter 44,000 Fourth Quarter 50,000 Inventory at the beginning of the year was 20,400 units. The finished goods inventory at the end of each quarter is t

Total number of units should be produced

Question 10: Harden, Inc., has budgeted sales in units for the next five months as follows: June 7,000 units July 5,200 units August 6,300 units September 6,700 units October 4,700 units Past experience has shown that the ending inventory for each month should be equal to 14% of the next mont

Finding Production Level for a Month

On October 1, The Gala Manufacturing Company has 290 units of Product XYZ on hand. The company plans to sell 1,150 units of Product XYZ during October, and plans to have 480 units on hand October 31. How many units of Product XYZ must be produced during October?

Amount of cash collected

Question 8: All of Gaylord Company's sales are on account. Thirty-five percent of the credit sales are collected in the month of sale, 43% in the month following sale, and the rest are collected in the second month following sale. Bad debts are negligible and should be ignored. The following are budgeted sales data for the c

Excess cash available over disbursements

Question 5: Bries Corporation is preparing its cash budget for January. The budgeted beginning cash balance is $28,000. Budgeted cash receipts total $183,000 and budgeted cash disbursements total $185,000. The desired ending cash balance is $44,000. The excess (deficiency) of cash available over disbursements for January

U.S. sells goods to Japan and denominates USD

A U.S. company regularly sells goods to companies in Japan and denominates the transactions in U.S. dollars. From the U.S. company's perspective, the yen is the: Functional Reporting Local Currency Currency Currency A) Yes No No B)

Intermediate Accounting - calculating the ending Accounts Receivable balance

Hello, I am completely lost on this problem; I am having trouble wrapping my head around it. Thank you. As the manager of the accounts receivable department for Vicki Maher Leather Goods, Ltd., you recently noticed that Percy Shelley, your accounts receivable clerk who is paid $1,200 per month, has been wearing unusually tast

System development life cycle

What are the steps in the systems development life cycle? Which step is most important? Why? What are the ramifications of skipping one of the steps?

Multiple Choice Questions on Tax and Passive Activity Losses

I need help grasping these topics. Can you assist? In Lawrence County, the real property tax year is the calendar year. The real property tax becomes a personal liability of the owner of real property on January 1 in the current real property tax year, 2007 (which is not a leap year). The tax is payable on June 1, 2007. On Ma

Journalizing the Transactions for June

Scenario: Redmon Company uses a sales journal, a purchases journal, a cash receipts journal, a cash disbursements journal, and a general journal. The following transactions occur in the month of June. June 1: Purchased $8,100 of merchandise on credit from Vick, Inc., terms n/30. 8: Sold merchandise costing $900 on credi

Adjusted Gross Income (AGI) for Nell

A.) Nell, single and age 38, had the following income and expense items in 2008: Nonbusiness bad debt $6,000 Business bad debt $2,000 Nonbusiness long-term capital gain $4,000 Nonbusiness short-term capital loss $3,000 Salary $40,

Roloflex Company: determine net income in 3 different cases

Articulation: Relationships between a Balance Sheet and an Income Statement The total assets and liabilities of Roloflex Company at January 1 and December 31, 2006, are presented below. January 1 December 31 Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $76,000 $112,000 Liabiliti

Manufacturing Costs

The accounting records of the Microfine Company revealed the following costs: Factory utilities $42,000. Wages of assembly-line workers 194,000. Customer entertainment 52,000.

Accounting- computing sales to achieve target income

Bloom Company manufactures a single product that sells for $180 per unit and whose total variable costs are $139 per unit. The company targets an annual after tax income of $820,000. The company is subject to a 30% income tax rate. Assume that fixed costs remain at $637,500. Compute the unit sales to earn the target after ta

Determining the cost of cash discounts

Determine the cost of giving up cash discounts under each of the following terms of sale (assuming 365 day year). a) 2/10 net 30 b) 1/10 net 30 c) 2/10 net 45 d) 3/10 net 45 e) 1/10 net 60 f) 3/10 net 30 g) 4/10 net 180

Accounting

I need the solutions for these 2 problems to help in my examination preparation. thanks Sample problem 4. Lennox Industries manufactures two products: A and B. A review of the company's accounting records revealed the following per-unit costs and production volumes: A B Production volume (units) 2,500 5,000 Direc

Accounting

I need help with these 2 problems. Thanks. Moore Company needs to determine the variable utilities rate per direct machine hour in order to estimate cost for August. Relevant information is as follows. Month Machine Hours Worked Utilities Cost April 4,800 $4,144 May 5,200 4,300 June 5,600 4,482 July 6,000 4,

Accrued interest , Current and Long-term note balance

On August 1, 2007, Seinfeld Co issued a note payable to First Providence Bank in the amount of $1,200,000. The interest rate on the note is 8% and the note is payable in three payments annually of $400,000 plus interest on August 1st each year. The first payment is due August 1, 2008. Please provide the following: a. Accrued

Present Value Income Stream

Find the present value of an income stream which has a negative flow of $100 per year for 3 years, a positive flow of $200 in the 4th year, and a positive flow of $300 per year in Years 5 through 8. The appropriate discount rate is 4 percent for each of the first 3 years and 5 percent for each of the later years. Thus, a cash

20 questions: Variable Costing methods and calculations

20 questions Tables for questions 5 - 11 - 12 - 15 - 19 in attachment Question 1 Absorption costing is useful because it reflects the full costs that sales must exceed for the company to be profitable. Question 1 answers True False Question 2 When evaluating a special order, management should

Changing Fixed Costs to Variable Costs at Blockbuster Video

1. Changing Fixed Costs to Variable Costs at Blockbuster Video According to an article in Business Week, when John F. Antioco took charge of Blockbuster Video, he changed the company's strategy. Traditionally, Blockbuster had bought videotapes from the move studios for an average cost of about $65 each, planning to rent them ou

Break-even point

1. Cost-Volume-Profits and Vending Machines Riccardo Food Services Company operates and services soft drink vending machines located in restaurants, gas stations, and factories in four southeastern states. The machines are rented from the manufacture. In addition, Riccardo must rent the space occupied by its machines. The follo

Davidson Enterprises: Remedies for Tight Cash Positions

Dinesh Patel is the sales manager of Davidson Enterprises, a very profitable distributor of office furniture to local businesses. A recent economic downturn has created an extremely tight cash position, and the company has been hurt by the bankruptcy of two key customers. In late October, anticipating an economic recovery,

Optimum Order Quantity - EOQ Analysis

Tiger Corp purchases 1,200,000 units per year of one component. The fixed cost per order is $25. The annual carrying cost of the item is 27% of its $2 cost. a) Determine the EOQ under each of the following conditions: (1) no changes, (2) order cost of zero, and (3) carrying cost of zero. b) What do your answers illustrate

Annual rates

Jasmine Scents has been given two competing offers for short term financing. Both offers are for borrowing $15000 for 1 year. The first offer is a discount loan at 8%, the second offer is for interest to be paid at maturity at a stated interest rate of 9%. Calculate the effective annual rates for each loan and indicate which loa