1. a.Sales in 2000 were 125 million; sales in 2005 were 275. What is the "percent of sales" in 2005 as compared to 2000? b.What is the percent increase of sales from 2000 to 2005. c.What would 2005 sales have to be to make the percent change 150%? 2. a.Using the CPI factors find the "real" sales (in mil
Discuss secured sources of short-term loans and what concerns may the lender have with this type of financing? Provide an example too please. Thanks
Level of Activity January-Low April High Number of units produced $12,000.00 $15,000.00 Cost of goods manufactured $250,000.00 $300,000.00 Work in process inventory, beginning $5,000.00 $16,000.00 Work in process inventory, ending $6,000.00 $9,000.00 Direct materials cost per unit $4.00 $4.0
1.) Using the high-low method, estimate a cost formula for utilities. Express the formula in the form Y=a+bX). (The variable rate should be stated in terms of cost per scan). 2.) Prepare a scattergraph using the above data. (The number of scans should be placed on the horizontal axis, and utilities cost should be placed on th
E13-7 (Adjusting Entry for Sales Tax) During the month of June, Rowling Boutique had cash sales of $233,200 and credit sales of $153,700, both of which include the 6% sales tax that must be remitted to the state by July 15. Instructions: Prepare the adjusting entry that should be recorded to fairly present the June 30 financi
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.
Behavioral scientists suggest that we remember events as snap shots, not movies. How would you apply this to designing a service?
Can a company manipulate the bottom line with the accounting for inventories and fixed assets? How so?
What are some of the challenges in recording and fairly valuating fixed assets in an organization?
What happens if an invoices go unpaid? Do companies get that money back on the taxes they paid for the anticipation of the income?
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