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    Accounting

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    Accounting Multiple Choice

    A) Costs in a process cost system are traced to? Would it be: 1. Specific jobs 2. Specific customers 3. Specific production departments 4. Specific corporate administrators Not absolutely sure on a choice. B) Which of the following is a period cost? Would it be: 1. Manufacturing plant maintenance 2. Wages for pro

    Accounting Problems

    Problem A. The building maintenance department for Packard Manufacturing Corp. budgets annual costs of $3,000,000 based on the expected operating level for the coming year. The costs are allocated to two production departments. Packard Manufacturing Corp. is considering 2 allocation bases for assignment of costs to department

    Accounting Questions

    A) As manager of a house appliance store, indicate 2 costs that are controllable and 2 costs that are non-controllable. Next, explain why you would consider them controllable or non-controllable costs. B) As the manager of a restaurant, list 2 costs that may be considered fixed costs and 2 that may be considered variab

    KMG Corporation - Gains and Losses

    KMG Corporation is in the business of manufacturing and selling seasonal handcrafts and other decorative items. The company operates one retail shop in the Seattle area, and also rents space at the famous Pike Place Market at which it displays and sells its merchandise. The following transactions for KMG Corporation occ

    Fixed Costs

    You have been studying 'fixed' costs. You learned that a number of 'fixed' costs are actually mixed costs (variable and fixed). Write a two paragraph memo to your manager explaining some of the cost estimation techniques that can help determine the fixed and variable portion of each mixed cost (such as utility costs and maintena

    Break Even Point: Unit Contribution Margin

    Calculate the unknowns for the following situations based on the given data: Actual total sales revenue $300,000 Total fixed cost 75,000 Unit variable costs 15 Contribution ratio 40% CALCULATE THE FOLLOWING: a) unit selling price b) unit contribution margin c) break eve

    Taxation Question

    What makes the disposition of an asset a "capital gain" or "capital loss" instead of an ordinary gain or loss? Why do you think the distinction was written into the tax code? Why the distinction between long and short term?

    The Assembly division of Canadian Car Company: Transfer pricing

    The Assembly division of Canadian Car Company has offered to purchase 90,000 batteries from the Electrical division for $104 per unit. At a normal volume of 250,000 batteries per year, production costs per battery are as follows: Direct materials Direct mfg. labour Variable factory overhead Fixed mfg. overhead Total $40

    Cost Accounting

    The new manager of the insurance division does not understand how the company can have so many overhead rates for assigning costs to the activities of the company's life insurance underwriters. One rate schedule is used to calculate average assignable costs when agents write standard policies. Another rate schedule is applied wh

    R&D Effectiveness of Ballard

    In particular, review the Web Sites in the posting "Roadmaps" complete a Topic Summary by doing the following: a. Using a company of Ballard, create and defend a technology roadmap for that company based on the web site reading assigned. b. Describe the stages of technology development as demonstrated in the team's

    Return on stock investments

    One year ago, Mr. Seth Cohen invested $10,400 in 200 shares of First Industries, Inc., stock and just received a dividend of $600. Today, he sold the 200 shares at $54.25 per share. He is asking for your help to figure out: a. His capital gain; b. His total dollar return; c. His percentage return; and d. The stock's divide

    Cost Accounting

    Your team has been asked to present a proposal to management for developing a cost ac-counting system for the new online business unit of a merchandising company. Your final system must contain features designed to support the ability of both the new online business unit and the parent unit to measure the performance of the new

    Continuing Expenditures

    See attached file for full problem description. Problem 1 Recording continuing Expenditures for plant Assets. Big Sky, Inc., recorded the following transactions over the life of a piece of equipment purchased in 2005; Jan 1,2005 Purchased the equipment for $36,000 cash, The equipment is estimated to have a 5 yr life and

    Accounting variances on price and efficiency

    Materials and manufacturing labour variances, standard costs. Consider the following selected data regarding the manufacture of a line of upholstered chairs: Direct materials 2 square metres of input at $10 per square metre Direct manufacturing labour 0.5 hour of input at $20 per hour The following data were compiled reg

    Missing Numbers Business Problem

    The eastern Spruce equity accounts for last year are as follows: Common stock, $1 par (500 shares outstanding) _________ Capital surplus $50,000 Retained earnings 100,000 Total _________ Fill in the missing numbers (this should be completed in Excel).

    Shares outstanding and average price

    Following are the equity accounts for Kerch Manufacturing (this should be completed in Excel). Common stock, $2 par $135,430 Capital surplus 203,145 Retained earnings 2,370,025 Total $2,708,600 How many shares are outstanding? At what average price were the shares sold?

    Sustainable Growth Rate for MBI Company

    The MBI Company does not want to grow. The company's financial management believes it has no positive NPV projects. The company's operating financial characteristics are: Profit margin = 10% Assets-sales ratio = 150% Debt-equity ratio = 100% Dividend-payout ratio = 50% Calculate the sustainable growth rate for the MBI C

    Taxation - Apportionment

    In most states, a taxpayer's income is apportioned on the basis of a formula measuring the extent of business contact, and allocated according to the location of property owned or used. True or False?

    Tax Questions

    An S corporation has a lesser degree of limited liability than a C corporation. True or False? A limited partner in a limited partnership has limited liability whereas a general partner in a limited partnership has unlimited liability. True or False?

    Example of Exclusions in Taxation

    Which of the following is not immune from state income taxation, even if P.L. 86-272 is in effect? A. Sale of a factory building. B. Sale of office equipment that constitutes inventory to the purchaser. C. Sale of office equipment to be used in the taxpayer's business. D. All of the above are protected by P.L. 86-272 immu

    Taxation- Gift

    In which, if any, of the following independent situations has Geraldine made a gift? A. Geraldine gives her 19-year old son $20,000 to be used by him for his college expenses. B. Geraldine buys her grandfather a new Jaguar for his birthday. C. Geraldine sends $20,000 to Duke University to cover her nephew's tuition. The ne

    Business Taxation Questions.

    For a limited liability company with four owners, A. An election can be made to be taxed as an S corporation. B. The entity is taxed as a corporation. C. An election can be made to be taxed as a partnership. D. None of the above. E. All of the above. I know that they would normally be taxed as a partnership so that