Gravois, Inc., incurred the following costs during June: Selling expenses $ 158,375 Direct labor 283,140 Interest expense 41,065 Manufacturing overhead, actual 204,750 Raw materials used 460,980
Precision Numbers, Inc., manufactures pocket calculators. Costs incurred in making 25,000 calculators in April included $85,000 of fixed manufacturing overhead. The total absorption cost per calculator was $12.50. Required: (a) Calculate the variable cost per calculator. (Do not round your intermediate calculations. Round yo
Please help me with an accounting assignment by answering these questions: a. Explain the methods of how to find the value of common stock. b. Describe the return (income) an investor can receive from common stock. Thank you.
The case is designed to determine and evaluate the payment amount of a car loan and a mortgage, based on your income. If you prefer, you may assume that your household income is $48,000 per year or $4,000 per month. Based on your income, you may spend 28 percent of your monthly income on housing and 10 percent on a car loan. You
1. Using the data in the attached file, prepare a schedule of total standard manufacturing costs for the 7,800 output units in January 2012. 2. For the month of January 2012, compute the following variances, indicating whether each is favorable (F) or unfavorable (U): a. Direct materials price variance, based on purchases b.
On December 31, 2008 Tie One On reported net income for the year $265,000 and the following account balances Cash $175,000 Accounts Receivable
Another student in your accounting class says that, as she understands it, most long-term liabilities on the balance sheet are viewed negatively by potential investors. Discuss when this might be true and when it might not be. You and Frank are studying for an upcoming accounting exam. Frank says, "Mortgage loans are the best
At least 600 words. What is included in the cost basis of a long-lived asset? Explain for at least two types of such assets. What sources are reliably used to estimate an asset's useful life? How is the appropriate depreciation method determined? Has the concept of asset impairment changed accounting for long-lived a
This solution contains a Microsoft PowerPoint presentation about plant assets, depreciation, disposal of plant assets and depletion.
This solution contains a Microsoft Power Point presentation with 55 slides that explains plant assets, depreciation, disposal of plant assets and depletion. Determining the cost of land, land improvements, buildings, and equipment is discussed. Each of these topics contains slides which explain and teach the concept, illustrat
Comparative Balance Sheet December, 31 2009 2008 Cash
AJack Partnership manufactures jackhammers. AJack Partnership is looking for guidance in the variances of its standard cost system. It would like you to assist in understanding material price, material quantity, rate, efficiency, and overhead variances. The standard cost card information for unit of product is below: - Dire
As an accounting professional, it is important to understand the historic development of accounting standards and specifically topics that are affected by the convergence of existing standards. Look at the combined work of the FASB and the IASB has led to a standardized framework. Throughout the development of this framework, se
The goal of the IASB and the FASB Framework convergence is to create a common conceptual framework of accounting standards. It is important to consider whether its development will meet the needs of users, Research the IASB and FASB frameworks and the Conceptual Framework Project. Give an explanation of how the convergence an
Hancock Hoodies is considering a special order for 100 hoodies for a local company party. The normal selling price of a hoodie is $30 and its unit production cost is $16 as shown below. Direct materials $6 Direct labor $3 Manufacturing overhead $7 Unit product cost $16 Most of he manufacturing overhead is fixed and una
The Calibri Company produces three products: F,G and H. The selling price, variable costs, and contribution margin for one unit of each product follow: Product F G H Selling
Please provide a solution in Word doc. Selected sales and operating data for three division of three different companies are given below: (Please see the attached file.) a. Compute the return on investment (ROI) for each division using the formula stated in terms of margin and turnover. Show computations. b. Computer t
Jim's Landscaping is in the business of maintaining and improving yards in surrounding areas. The company bases its overhead cost budgets on the following data: Variable overhead costs: Supplies $4 per yard Machine maintenance $2 per yard Chemicals $6 per yard Fixed o
Please rewrite the following: December 29, 2012 IRS P.O. Box 48 - 389 Stop 54A Doraville GA 30362 Dear Carlyn Chapman, Now you know Shauntinqua is my cousin, not my niece; and her grandfather is my uncle finally we have my relationship with Shauntinqua. My Mother Mary L. Thomas McCoy has guardianship over Shaun
Describe what is meant by ABC analysis. What is the purpose of this inventory technique â?" provide an example. In your responses to other students, please identify strengths and weaknesses of their ABC analysis applied to their examples.
Walker Corporation is a distributor of several products. They use a predetermined variable overhead rate based on direct labor hours. In the most recent month, 90,000 items were shipped to customers using 3,500 direct labor hours. The company incurred a total of $12,600 in variable overhead costs. According to the company's stan
For each of the following independent cases, use the equation method to compute the economic order quantity. Case A Case B Case C Annual requirement (in units) ................................................ 13,230 1,681
Using the list of heuristics from a usability website to evaluate ABC Bakery (a fictional company), along with other resources, this paper describes how to improve website usability. An explanation of the results of the evaluation, an update of the recommendations for improvement based on the results of the usability evaluation
At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of $219,000. During the year, liabilities decreased by $36,000; assets increased by $77,000; paid-in capital also increased by $10,000 to $190,000. Dividends declared and paid during the year were $62,000. At the end of the year, ow
Shambu Shoes is in the business of manufacturing basketball shoes. Accordingly the company uses the six activity cost pools listed below: Activity Cost Pool Activity Measure Maintenance Machine Hours Setups Setup Hours Cutting Supervision Setup Hours Cutting Depreciation Machine Hours Assembly supervision Direct Labor hours Asse
Kwikeze Company set the following standard costs for one unit of its product. Direct materials ((3.0 Ibs. @ $5.0 per Ib.) $ 15.00 Direct labor (1.7 hrs. @ $14.0 per hr.) 23.80 Overhead (1.7 hrs. @ $18.50 per hr.) 31.45 Total standard cost $ 70.25 The predetermined overhead rate ($18.5
Soccer nets for commercial use sell for $200.00 each. Selected data for the company's operations for the last year follow: Units in beginning inventory 0 Units produced 500 Units sold
Sharpens Incorporated produces knife sets for use in commercial kitchens. They sell for $400.00 each. Selected data for the company's operations last year follow below. Units in beginning inventory 0 Units produced
Strong Wood Company is a distributor of patio furniture. Data concerning the next month's budget appear below. Selling price $290.00 Variable expense $174.00 Fixed expense $158,000.00 Unit sales 1,500 units per
1) Brax Technology Corporation is evaluating the introduction of a new product. The possible levels of unit sales and the probabilities of their occurrence are given. Possible market reaction Sales in units Probabilities Low response 30 .10 Moderate response 40 .10 High response 55 .
Clearly many people believe that the US is generally over regulated and that departments such as the SEC go too far. Others think they do not go far enough. Accounting and financial information and rules are very much dependent on the SEC. What do you think? Has the SEC done a good job or are they simply in the way of an efficie