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Wells Inc., a manufacturer of construction equipment

Problem 6-4A p. 250 Standard factory overhead Variance report Wells Inc., a manufacturer of construction equipment, prepared the following factory overhead cost budget for the Welding Department for May 2003. The company expected to operate the department at 100% of normal capacity of 3,000 hours. Variable costs: I

Accounting for employee bonuses

For the year ended 12/31/02, ABC companny has implemented an employee bonus program equal to 3% of ABC's net income before bonus expenses, which employees will share equally. ABC's net income before bonus expenses is expected to be $500,000 and the bonus expense is computed off of that. Compute the amount of bonus payable to

Define a list of Accounting Terms


A comparison of Investment Alternatives including income taxes: Advise Ms. Lee

E14-31 A comparison of Investment Alternatives including income taxes Ms. Keri Lee, an expert in retro-fitting buildings to meet seismic safety standards, has just received a $200,000 after-tax bonus for the successful completion of a project on time and under budget. Business has been so good that she is planning to retire i

Evaluating New Investment Using Return on Investment (ROI) and Residual Income.

E12-10 Evaluating New Investment Using Return on Investment and Residual Income. Division A Division B Division C Sales 6000000 10000000 8000000 Average operating assets 1500000 5000000 2000000 Pretax income 300000 900000 180000 Minimum required rate of return 15% 18% 12% 1. Compute the return on investment (ROI) for

Jill and Phil have just established a security alarm maintenance service.

For each Transaction, describe the event (including amounts) that caused the entry to be made. See attached file for the complete question. Jill and Phil have just established a security alarm maintenance service. They charge $20 per hour per person and are usually paid by check upon completion of the job. For certain custom

Analyzing a company and determining who has an economic interest in it.

Tree Top Airlines began as a small commuter line * years ago but has grown into the seventh largest airline in America, with a strong regional route system. In addition, it has many routes to America's commercial centers and a few selected international routes. Tree Top has a fleet of 350 planes and approximately 7,000 employees

Financial Accounting: Expiration of Prepaid Rent

The person keeping the financial records forgot to record the expiration of prepaid rent during the current year. The result of this error is that: Net Income Owners' Equity Assets A) overstated understated understated B) overstated overstated overstated C) overstated understated no effect D) no effect n

4 Multiple Choice Accounting costing questions:

USE THE FOLLOWING INFORMATION FOR QUESTIONS #9 - #12 Michele, Inc. is in the process of evaluating its manufacturing overhead costs. Michele uses a four-variance analysis of its manufacturing overhead costs. The results for April are as follows: Budgeted direct labor hours per unit is used


CMA problem. Use this information to answer problems #22 and #23. Osawa, Inc. planned and actually manufactured 200,000 units of its single product in 2001, its first year in operation. Variable manufacturing costs were $20 per unit produced. Variable operating costs were $10 per unit sold. Planned an

Smithers, Inc: Activity based costs at a call center for outsource decision

Smithers, Inc. manufactures and sells a wide variety of consumer products. The products are viewed as sufficiently profitable, but recently, some product line managers have complained about the charges for the call center that handles phone calls from customers about the products. Product lines are currently charged for call c

Excel Problem dealing with management accounting

Problem 1 Send your completed problem via the dropbox in the student tools area. Due June 24. You will be graded on the accuracy of your answer and the usage of excel. Parts 2,3, 4, & 5 must use excel cell referencing and the chart wizard. The problem solution is worth a total of 10 pts. I will take o

Preparing T accounts, beginning, and ending balances

Preparing T accounts, beginning and ending balances. See the attachment for the problem description. 1. The following data pertain to Martin Company for September: Raw Materials Inventory, September 1 ...$80,000 Work in Process Inventory, September 1 ...$95,000 Finished goods inventory, September 1

Need some help with a business simulation system dynamics

Go to the web page below: action=view_category&category=Simulation&FD_rand=7533&FD_p=1 and find the Near Beer Game, which is near the bottom of the list of simulations. Try different strategies to bring your beer supply change into equilibrium as quickly as possible. Desc

Need help with linear business problem

A) Summarize the above information in a useful table. b) What are the decision variables? Pick a logical symbol for each one. c) What is the objective function? Is this a maximization or a minimization problem? d) What are ALL of the constraint equations? e) It turns out that marketing vastly underestimated the pr

Finding the value of free credit.

An auto dealership, KM Motors, is offering its customers free credit on a $10,000 car. The customer pays $4000 down and then the balance at the end of 2 years. A competing dealership, T Motors, does not offer free credit but will provide $500 off of the list price. If the interest rate is 10 percent, which company is offering

Cash Discounts: Cost of Not Taking the Discount

You place an order for 400 units of inventory at a unit price of $50. The supplier offers terms of 2/10, net 40. a. How long do you have to pay before the account is overdue? If you take the full period, how much should you remit? b. What is the discount being offered? How quickly must you pay to get the discount? If you

Determining the type of float for a deposited check.

You have $125,000.00 on deposit with no outstanding checks or uncleared deposits. If you deposit a check for $110,000.00 does this create a disbursement float or a collection float? What is your available balance? Book balance?