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    The Mussina Chemical Company

    The Mussina Chemical Company produced three joint products at a joint cost of $117,000. These products were processed further and sold as follows. Chemical product Sales Additional processing Costs A $230,000 $190,000 B

    John Ralph's Corporations: liquidation issues, estate planning

    See attached file for full problem description. --- John Ralph owns The Ralph Construction Company (RCC), a C corporation with a September 30, year end. For ten years RCC constructed special-purpose buildings and reported revenues on the percentage-of-completion method. John also owns Construction Equipment, Inc. (CE). CE

    Accounting

    (See attached file for full problem description) --- Its income statement is as follows: Sales $2,628,000 Cost of Goods Sold 1,600,000 Gross Profit $1,028,000 Operating expenses: Selling expenses $300,000 Administrative expenses 400,000 Total operating expenses 700,000 Income from

    Cost Accounting: Should SportsCards Inc. accept the special order?

    SportsCards Inc. manufactures baseball cards sold in packs of 10 in drugstores and grocery stores throughout the country. It is the second leading firm in an industry with four major firms. SportsCards has been approached by Zip Cereal Inc., which would like to order a special edition of cards to use as a promotion with it new c

    Business > Operations-13791

    (See attached file for full problem description) --- Following is a list of products to be analyzed by value analysis: Classroom desk Bookends Mousetrap Electric Fan Backpack-style book toter Bike handlebars Fireplace grate Bike lock Coaster on which to set drinks Lamp part shown at the right (pic show the part (bla

    Type C reorganization

    Banbury Coporation offered to acquire the business operated by Luttrell Inc., in a type C reorganiztion. In addition to it business, Luttrell owns residential rental property ($420,000 FMV and $270,000 adjusted basis) that Banbury does not want. According to the reorganization plan, Banbury will issue voting stock in exchange

    Residual income for belt division Allen Corp.

    The following selected data pertain to the belt division of Allen Corp. for last year: Sales 1,000,000 Average operating assets 400,000 Net operating income 100,000 Turnover 2.5 Minimum required return 20% Reference: 12-6 How much is the residual income? 20,000 80,000 900,000

    Return on investment last year for the Northern Division

    The Northern Division of the Kimball Company reported the following data for last year: Sales 800,000 Operating expenses 690,000 Stockholders' equity 250,000 Average operating assets 400,000 Minimum required rate of return 14% Reference: 12-10 The return on investment last year for the Northern D

    Concept of accounting conservatism

    Suppose your company purchased land and a warehouse for $5 million. The price was steep, but you were told that a new interstate highway was going to be built nearby. Two months later, the highway project is cancelled and your property is now worth only $3 million. Required: 1. How does the concept of accounting conserv

    P1-5

    You have decided to buy a new automobile, and have been gathering information about the purchase price. The manufacturer's website shows a "list price" of $24,500, which includes all of your preferred options- leather trim, CD player, and so on. You have also consulted the "blue book" guide to car prices and found that the ave

    Static Electric Company: Price of Common Stock

    Static Electric Co. currently pays a $2.10 annual cash dividend. It plans to maintain the dividend at this level for the foreseeable future as no future growth is anticipated. If the required rate of return by common stockholders is 12 percent, what is the price of the common stock?

    Actual purchase price per unit of materials

    1) Compute the actual hours worked, rounded to the nearest hour. 2) Compute the actual purchase price per unit of materials, rounded to the nearest penny Standard direct labor rate $14.00 Actual direct-labor rate $ 12.20 Standard direct-labor hours 12,000 Direct-labor usage variance-unfavorable $14,140

    Quantitive approaches: Transportation Assignment and transshipment problems

    12. Scott and associates Inc, is an accounting firm that has three new clients. Project leaders will be assigned to the three clients. Based on the different backgrounds and experience of the leaders, the various leader-client assignments differ in terms of projected completion times. The possible assignments and the estimated

    Interrelationships

    Please describe the interrelationships between 1. Income statement 2. Statement of Changes in Stockholders equity 3. Statement of cash flow 4. Balance sheet

    Quantative approaches :Transportation, Assignment, and Transhipment Problem 1

    Sounds Electronics, Inc produces a battery-operated tape recorder at plants located in Martinsville, NC, Plymouth, Ny and Franklin, Missouri. The unit transportation cost for shipments from the three plants to distribution centers in Chicago, Dallas, and New York are as follows To From Chicago Dallas New York Martinsvill

    Accounting Variable Cost Methods

    Equation Method Moreno Corp. produces products that it sells for $7 each. Variable costs per unit are $4, and annual fixed costs are $81,000. Use the equation method to determine the break-even point in units and dollars.

    Dazzle Book Warehouse

    Dazzle Book Warehouse distributes hardbacks books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. At the end of May, Dazzle's inventory consisted of 240 books purchased at $1,200. During the month of June the following merchandising transactions occurred. June 1 Purchased 130 books on acco

    Calculation Of Corporate Tax, Capital Allowances

    (See attached files for full problem description) --- 1. Calculate Susan's assessable business for the two years of assessment based on her accounts to 30 April 2002. In order to do this: a) Compute the capital allowances for the year. b) Calculate the adjusted profit for the year after capital allowances. c) Calculate

    BOSS NASS COMPANY

    (See attached file for full problem description) BOSS NASS COMPANY WORK SHEET FOR THE YEAR ENDED DECEMBER 31, 2002 Adjusted

    The Marriott Corporation operates many hotels throughout the world...

    The Marriott Corporation operates many hotels throughout the world. Suppose one of its Chicago hotels is facing difficult times because of the opening of several new competing hotels. To accommodate its flight personnel, American Airlines has offered Marriott a contract for the coming year that provides a rate of $50 per nig

    Return on Investment and Capital Turnover

    Keithley Inc. has two divisions that operate as investment centers. The data for each follows: Wholesale Retail Division Division Sales $ 275,500 $ 283,100 Productive Assets 2,755,000 4,275,000 Net Operating Income 606,100 1,150,000 1) What is the return on investment for the Wholesale Division? A) 45.90%

    Return on Investment for Bartholomew Company

    Bartholomew Company's records for Department A provided the following information for last year: Sales revenue $3,400,000 Productive assets 118,000 Net operating income 15,340 Total assets 191,750 What is the return on investment if the division manager only util

    Stench Foods Company

    Stench Foods Company uses a standard cost system to collect costs related to the production of its garlic flavored yogurt. The garlic (materials) standards for each container of yogurt produced are 0.8 ounces of crushed garlic at a standard cost of $2.30 per ounce. During the month of June, Stench purchased 75,000 ounces of

    Materials price variance for the month

    The following materials standards have been established for a particular raw material used in the company's sole product: Standard quantity per unit of output 0.1 pound Standard price $18.20 per pound The following data pertain to operations for the last month: Actual materials purchased 5,700 pounds Act

    Multiple choice accounting questions

    2. HOW SHOULD UNEARNED DISCOUNTS, FINANCE CHARGES, AND INTEREST INCLUDED IN THE FACE AMOUNT OF INSTALLMENT ACCOUNTS RECEIVABLE BE PRESENTED IN THE BALANCE SHEET? A. AS A CURRENT LIABILITY B. AS A DEDUCTION FROM THE RELATED INSTALLMENT ACCOUNTS RECEIVABLE? C. WITHIN THE NET AMOUNT OF INSTALLMENT ACCOUNTS RECEIVABLE? D. AS A

    The arithmetic mean

    For salaries of $102,000, $98,000, $45,000, $106,000 and $101,000, the arithmetic mean would be an appropriate average. True False

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