Utopia Dance Clubs, Inc. rented an old warehouse for its newest club on October 1, 2010. To receive a discount, Utopia paid $11,700 for 18 months of rent in advance. Assume no additional rent is paid in 2011 and 2012 and answer the following questions: A) How much rent expense will be recognized for the year ended Decemb
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Discuss how cost accounting differs from other types of accounting. Provide specific examples to support your response.
Please show all work and supply the answer in Word doc, not Excel. For the third quarter of the year, the following data was reported: Inspection time 1.4 days Process time 4.5 days Wait time 12.0 days (the time between the customer order and the beginning of production) Queue time 3.9 days Move time 0.8 days a. Wha
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
The statement of changes in retained earning for the year shows: a) the retained earnings balance at the beginning of the year b) amounts received from the sale of additional common stock during the year c) extraordinary gains or losses during the year d) the effect of a stock split during the year.
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
* Review exercise-calculate retained earnings From the following data: Retained earnings, December 31, 2011 $490,400 Net decrease in total assets during 2011 74,800 Net increase in accounts receivable in 2011 17,200 Dividends declared and paid in 2011
Discuss the significant elements of forming a partnership in the U.S.
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
The following is a list of activities that occur for a company that sells many different types of products. Please classify each as either examples of unit level (U), batch Level (B), product level (P), or organization sustaining activity (O): a. Packing labor wages u b. Materials handling labor wages u c. part administrato
Statues Inc. has the following sales budget for the second of the current year: April May June Total Budgeted sales $250,000 $340,000 $590,000 $1,180,000 From past experience the company has learned that 10% of a month's sales are collected in the month of sale, another 60% are collected in the month following sale, and the
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
In 2010, John Co. sold 150,000 units of its product at a price of $40. The variable cost per unit was $24, and John reported net income for the year of $400,000. What was the amount of John's fixed costs for the year?
Your posts are very good and state that management should focus on the success of the business rather than managing income to their benefit. This gets into ethics, where if you keep doing the right thing you will reap the benefits with bonus's and promotions. If you do the wrong thing for your own benefit, it will eventually cat
When a company issues a bond at a premium: a) The company is more profitable than most companies in its industry b) Investors perceive the bond to be a very safe investment c) The investors' interest income will be less than the interest received each year d) The investors' interest income will be more than the interest re
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
Please find an article detailing a recent accounting fraud. Summarize your findings and discuss with your friends or classmates how the situation should have been managed by the accountant. Please include in your summary a discussion of "...encouraging the continual search for truth, values, and a just existence," and answer the
1) Shrek, Donkey, and Fiona are partners in SDF Corporation, and share profits and losses in the ratio of 5:3:2, respectively. The partnership has cash of $10,000 and noncash assets of $90,000 when they decide to liquidate. Liabilities at the time of liquidation are $40,000, including a note payable to Fiona of $5,000. The partn
See the attached file. The following transactions of My Dollar stores occurred during 2006 and 2007: **2006** Feb 3 - Purchased equipment for $10,000, signing a six-month, 9% note payable Feb 28 - Recorded the week's sales of $51,000, one-third for cash, and two-thirds on account. All sales amounts are subject to a 5% sa
Finlon Upholstery, Inc. uses a job-order costing system to accumulate manufacturing costs. The company's work-in-process on December 31, 2011, consisted of one job (no. 2077), which was carried on the year-end balance sheet at $156,800. There was no finished-goods inventory on this date. Finlon applies manufacturing overhead to
Please help me answer this question. When are fixed costs relevant in a make-or-buy decision? A. Fixed costs are never relevant to the decision. B. Fixed costs are relevant when they differ among alternatives. C. Fixed costs are always relevant to the decision. D. Fixed costs are relevant when they exceed variable costs.
The Danville Manufacturing Company has two service departments and two producing departments. The following data are available for 2006. Service Dept. 1 Service Dept. 2 Producing 1 Producing 2 Department Costs $12,000 $8,000 $60,000 $70,000 Number of Transactions 6,00 0
Pulan Enterprises pays $208,100 for equipment that will last 5 years and have a $46,451 salvage value. By using the equipment in its operations for 5 years, the company expects to earn $94,100 annually, after deducting all expenses except depreciation. Calculate the income before depreciation, depreciation expense, and net
Robinson Enterprises purchased 56,000 pounds (cost = $420,000) of direct material to be used in the manufacture of the company's sole product. According the production specifications, each completed unit requires five pounds of direct material at a standard cost of $7.80 per pound. Direct materials consumed by the end of the per