Need help with setting up a "T" account... also see attachment..... 1) Betty and her friend each invested $50,000 in cash (for a total of $100,000) in exchange for shares of common stock in Bobbie's Book Store. 2) On January 1, 2005, purchased new equipment for cash costing $70,000 3) Depreciation on the new equipment
The sale price of one towel each is $16.00, the variable operating cost per towel is $6.00 and the fix operating cost is $40,000 How do I determine the break even point in units? How do I determine the sales dollar break even level?
Costs can be classified into two categories, fixed and variable costs. These costs behave differently based on the level of sales volumes. Suppose we are running a restaurant and have identified certain costs along with the number of annual units sold of 1000. Item: Raw Materials (cost for hamburgers) Total Annual Cost: 650
Which of the following characteristics applies to "process costing", but does not apply to" job order costing"? a. the need for averaging b. the use of equivalent units of production c. separate, identifiable jobs d. the use of predetermined overhead rates.
My trophies company produces thousands of medallions made of bronze, silver, and gold. The medallions are identical except for the materials used in their manufacture. What costing system would you advise the company to use and why?
The company I work for uses direct labor hours as the base to allocate manufacturing overhead. Fox made the following estimates for the coming year: manufacturing overhead cost, $60,000; direct labor hours: 6,000. If the actual result for the year are: manufacturing overhead cost, $65,000; direct labor hours: 7,000, Will
The company I work for produces canned vegetable soup. The company uses the weighted-average method in its process costing system. The company sold 300,000 units in January. There was no beginning work in process or finished goods inventory. Work in Process inventory at January 31 was 24,000 units, which were 75% complete as
My company uses a predetermined overhead rate based on direct labor hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for the next year: Direct materials...$5,000 Direct labor...$19,000 Rent of factory building...$16,000 Sales salaries...$24,000 Depreciation on factor
My company's manufacturing overhead is 40% of its prime cost. If direct labor is $18,000 and direct materials are $24,000 what is manufacturing overhead?
Answer questions after reading activity in the attached file: 1. What happened here? Were there really any right or wrong answers? 2. Why or why not? 3. Can even a minimal exposure to accounting theory influence reasoning power? 4. Is accounting theory really necessary for the establishment of accounting rules? W
Problem 16-9 Guo limited provides you with the following condensed balance sheet information. Assets Liabilities and shareholders equity Current assets $40,000 Investments in ABC company- trading 60,000 (10,000 shares) Equipment (net) 250,000 Intangibl
Ed Delahanty purchases 500 shares of Niagara Corporation stock on margin at the beginning of the year for $30 per share. The initial margin requirement was 55%.Ed paid 13%interest on the margin loan and never faced a margin call. Niagara paid dividends of $1 per share during the year. 1 - At the end of the year, if Ed sold th
Manufacturing overhead $225,000 incurred, $14,500 overpaid, overhead rate is $5.00 . How many hours dis company work? Under job order costing a company started with one job ($6,000) with $500 of cost assigned at the time. Other production cost were assigned as follows: Job #1= $6,000, Job #2 = 8,100, Job #3$2,40
May Costs are: Direct Material 41,000 Direct Labor 13,000 Manufacturing overhead 46,000 Selling expense 18,000 Administrative expense 15,000 What are the conversion costs? Manufacturing overhead is 40% of total conversion cost. Direct labor is $18,000
Suppose the expected return on the market portfolio is 14.7 percent and the risk-free rate is 4.9 percent. Morrow Inc.stock has a beta of 1.3 Assume the capital-asset-pricing model holds. a. What is the expected return on Morrow's stock? b. If the risk-free rate decreases to 3.7 percent, what
Ebart Company uses the FIFO method in its process costing system. The first processing department, the Welding Department, started the month with 14,000 units in its beginning work in process inventory that were 70% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was 20,
Costs can be classified into two categories, fixed and variable costs. These costs behave differently based on the level of sales volumes. Suppose we are running a restaurant and have identified certain costs along with the number of annual units sold of 1000. Item: Raw Materials (cost for hamburgers) Total Annual Cost: 650
Suppose you are the president of Lands' End, Inc. would you be most incline to make large investments in U.S. Treasury bills, the stock of eBay, or new lines of merchandise in your main line of business? Explain your choice.
The weekly overtime hours worked by all the employees at the Publx Market are 1, 4, 6, 12, 5, and 2 Is this a sample of the population? What is the mean number of overtime hours worked? What is the median interpret? What is the mode? What is the mean deviation? What is the standard deviation? What is the
271 363 159 76 227 337 295 319 250 279 205 279 266 198 117 162 232 303 192 181 321 309 246 278 50 41 335 116 100 151 240 474 297 170 188 320 429 294 570 342 279 235 434 123 325 How many classes would you recommend? What Class interval would you suggest? What would you recommend as the lower limit of the
See attached file for actual problem. Need help understanding how to apply the theory of constraints to a merchandising organization. --- University Bookstore is a nonprofit retail outlet for textbooks, computers, and general merchandise (including trade books, supplies, and university-licensed apparel and gifts). It is
Objectivity (also called "verifiability") and bias (usefulness) are two extremely important characteristics of accounting. Examine each of the following situations for possible impact upon these key constructs. ___________________________________________________________________ You work as an accountant for a corporation headq
Analyze the risk of a portfolio Use the data below and consider portfolio weights of .60 in stocks and .40 in bonds. Rate of Return Scenario Probability Stocks Bonds Recession 0.2 -5% 14% Normal 0.6 15% 8% Boom 0.2 25% 4% a. What is the rate of return on the portfolio in
Scenario Analysis. Consider the following scenario analysis: Rate of Return Scenario Probability Stocks Bonds Recession .20 -5% +14% Normal economy .60 +15 +8 Boom .20 +25 +4 a. Is it reasonable to assume that Treasury bonds will provide higher returns in recessions than in booms? b. Calculate the expected rate of re
The cordless phone manufacturing division of a Denver-based consumer electronics company uses activity-based costing. For simplicity, assume that its accountants have identified only the following three activities and related cost drivers for indirect production costs: Activity Cost Driver: Materials handling, Direct materia
Which of the following is NOT a shortcoming of using the Average Accounting Return method to make financial decisions? A) Uses Financial Statements as relevant input data. B) Offers no guidance on what the right targeted rate of return should be. C) Takes no account of time value. D) Uses averages. E) May result in m
Here is recent financial data on Pisa Construction Inc Stock price $ 40 market Number of shares 10,000 Earnings per share $4 value of firm $400,000 Book net worth $500,000 ROI 2% quaterly Pisa Construction has not performed spectacularly to date, however it wishes to issue new shares to obtain $100,000 to finance expansi
In 1996 a total of 14,968,000 taxpayers in the United States filed their individual tax returns electronically. By the year 2002 the numer increased to 46,282,200. What is the geometric mean annual increase for the period?
This is a research, Master level question. I need to know the definitions of the variables below. How would they affect a company's portfolio performance and risk. They are: average beta, Market D/E Ratio, Tax rate, Unleveled Beta, Cash/Firm Value, Unleveled beta corrected for cash, standard deviation in stock, standard
P1-8A In recent years, Waterfront Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized below.