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Sarah Goldberg

Sarah Goldberg, the company's CEO, has been concerned about the consistent losses with their newest location and is considering elminating it. Should Big Kahuna elminate the Park Lane location? Why or why not? Answer A. The Park Lane location should be kept open because its unavoidable expenses would cause the company to e

Common sizing horizontal vertical analysis: questions

QUESTIONS ____Which of the categories shows the largest percentage increase from the base period to 2011? ____Which of the categories shows the smallest percentage increase from the base period to 2011? ____What overall assessment can be made from the trend analysis regarding Gleason Company? ____If the current trend conti

Price variance

The Elm Institute makes portable tents for hikers. Their tents have a standard materials usage of 4 yards of cloth per tent at $7.00 per yard. During the month, 2,400 yards of cloth were purchased at $7.30 per yard. Production for the month produced 550 tents and used 2,100 yards of cloth. Please compute the materials price vari

Profit

Laurie Kahala just received an opportunity to lease and install a self-photo booth at a local mall. The booth would allow people to sit down, swipe their credit cards and take a set of ten high quality photos in one sitting. The combined lease (some payable to the mall, and the rest to company that owns the photo booth) would b

What is the target price per unit?

Travis Corporation sells a product for $100 per unit. Its market share is 32 percent. The market share can be increased to 40 percent with a reduction in price to $87. The product is currently earning a profit of $23 per unit. The president of Travis Corporation feels that the company needs to maintain the same profit level per

Units Currently Sold: Travis Corporation

Travis Corporation sells a product for $100 per unit. Its market share is 32 percent. The market share can be increased to 40 percent with a reduction in price to $87. The product is currently earning a profit of $23 per unit. The president of Travis Corporation feels that the company needs to maintain the same profit level per

Legality of Oral Agreements

I need some help with the following scenario: Gray Fabricating Co. and Pine Corp agreed orally that Pine would custom manufature a processor for Gray at a price of $80,000. After Pine completed the work at a cost of $60,000, Gray notified Pine that the processor was no longer needed. Pine is holding the processor and has req

Practice Problem for Accounting

1. Marcus Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume. The company sells the product for $141.30 per unit. Sales Volume (units) 6,000 7,000 Cost of Sales $347,400 $405,300 Selling & Admi

Planning a Sample for a Test of Subsequent Cash Receipts

Which of the following would be a consideration in planning a sample for a test of subsequent cash receipts? a) preliminary judgments about materiality levels b) The amount of bad debt write-offs in the prior year c) The size of the intercompany receivable balance d) The auditor's allowable risk of assessing control risk i

SLP. Lewis Company Special Order Decision.

I need help developing this SLP. Also I attached the previous one just in case is need it to develop this one since it looks like it is a continuation from the previous one.

Functions and Operations of Investment Banks

Need to examine the functions & operations of investment banks in the U.S. economy and discuss two financial services provided by investment banks. Identify two types of securities that investment bank syndicates sell high, globally. Is it beneficial to search for the best available investment bank or should a firm stay loyal

Accounting Assistance

1. What is meant by the net realizable value for accounts receivable? 2. What is aging of accounts receivable, and how is it used to account for uncollectible accounts? 3. How is the accounts receivable turnover computed? What information does this ratio provide? 4. Describe what is meant by the term "goodwill." 5.

Politics and Economic Growth

I'm just looking for someone's opinion on the following question: The third and fourth year of presidential terms have higher average rates of real growth than the first and second years. Do you think this is a coincidence or is it a reflection of political reality that politicians are more concerned about re-election than ab

corporate taxation

1.Can the sec 1244 stock be preferred stock? 2.How low can the S corp owner set his own salary? 3.How are distributions taxed under an S corp? 4.Can an S corp owner forgo a salary for a distribution? 5.Is rental income considered active income? 6.How are C corporations different from and similar to S corporations? 7.Descri

Glen and Michael are equal partners in Trout Enterprises

Glen and Michael are equal partners in Trout Enterprises, a calendar year partnership. During the year, Trout Enterprises had gross income of $400,000 and operating expenses of $220,000. In addition, the partnership sold land that had been held for investment purposes for a long-term capital gain of $100,000. During the year, Gl

joint costs at split off: NRV or physical-measures method

Assume that your company operates a joint-production process that generates three main products and one by-product. If you allocate joint costs only for financial reporting, would you ever care whether you use the NRV or the physical-measures method? Explain.

Break-Even Point/Targeted Profit

Since break-even focuses on making zero profit, is it of value in determining how many units must be sold to make a targeted profit? if so, what is it. I'm struggling to understand this. Examples would be great as references. Also, how can a change in the sales mix change the break-even point?

Jordana Woolens: Accounting Problems

18. THE FOLLOWING INFORMATION APPLIES TO QUESTIONS 18 - 20: Jordana Woolens is a manufacturer of wool cloth. The information for March is as follows: Beginning WIP: 10,000 Units Units Started: 20,000 Units Units Completed: 25,000 Units Beginning WIP - Direct Mateials: $6,000 Beginning WIP - Conversion Costs: $2,600 Direc

Finding Equivalent Units and Total Production Costs

I need help solving questions for the following scenario: Surf Products Company, Inc. uses an automated process to clean and polish its souvenir items. For March, the company has the following activities: Beginning WIP Inventory: 3,000 units; 1/3 complete Units Placed in Production: 12,000 units Units Completed and Transfe

Manufacturing Overhead - Chesapeake Bay Co.

The Chesapeake Bay Company, Inc. uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. For the year ended December 31, 2009, the company's estimated manufacturing overhead was $600,000, based on an estimated volume of 50,000 direct labor hours, at a direct labor rate of $6.00 per

Various Accounting Calculations

Stanton Company use the following standards in the production of its only product: Direct Materials: 18 Pounds @ $25 per pound Direct Labor: 6 Hours @ $18 Per Hour During March, company records showed the following: Materials purchased: 12,000 Pounds @ $264,000 Materials used: 15,000 Pounds Direct Labor Hours: 4,700 Hours

Bauer Manufacturing Company, Inc.

Bauer Manufacturing Company, Inc. uses departmental cost driver rates to allocate manufacturing overhead costs to products. Manufacturing overhead costs are allocated on the basis of machine hours in the Machining Department and on the basis of direct labor-hours in the Assembly Department. At the beginning of 2008, the followin

Cost of Goods Manufactured, Gross Margin, Operating Income

Please help with the following problems. Please provide step by step calculations for each. 2. THE FOLLOWING INFORMATION APPLIES TO QUESTIONS 2-4. Harding Company reports the following information: Beginning FG Inventory, 1/1/2008 = $80,000 Ending FG Inventory, 12/31/2008= $67,000 Cost of Goods Sold = $270,000 Sales Re

The following information pertains to the Cannady Corporation

The following information pertains to the Cannady Corporation: Beginning WIP Inventory = $50,000 Ending WIP Inventory = $48,000 Beginning Finished Goods Inventory = $180,000 Ending Finished Goods Inventory = $182,000 Cost of Goods Manufactured = $1,220,000 What is the cost of goods sold? a $1,235,000 b

Bachman Corp: Contribution margin

I need help with the following: Bachman Corp. produces three products. Data concerning the selling prices and unit costs of the three products appear below: Product A B C Selling price $40 $50 $90 Variable costs 30