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    Tiger Pride

    Tiger Pride produces two product lines: T-Shirts and Sweatshirts. Product profitability is analyzed as follows: T-SHIRTS SWEATSHIRTS Production & Sales Volume - Units 60,000 35,000 Selling Price $16.00 $29.00

    Peggy's Pillows

    Peggy's Pillows produces and sells a decorative pillow for $75.00 per unit. In the first month of operation, 2,000 units were produced and 1,750 units were sold. Actual fixed manufacturing costs are the same as the amount budgeted for the month. Other information for the month includes: Variable manufacturing costs = $20.00 per

    A Lovers' Triangle and the Passive Loss Rules; research as R&D

    A Lovers' Triangle and the Passive Loss Rules. The troubled marriage of john and Eleanor finally reached an impasse, and they mutually agreed to divorce. shortly after the divorce was finalized, John married Kristen. The three have known each other for years from working together to harvest the grapes of a vineyard owned by j

    Increase an organization's operating income

    Could you please help me to understand these concepts: Explain how producing more products that can be sold in a period can increase the organization's operating income. Is this a sustainable tactic to increase the organization's operating income? Would this happen in a service type company or is it an issue only in manufacturi

    Activity-Based Costing (ABC)

    Many companies recognize that their cost systems are inadequate for today's global market. Managers in companies selling multiple products are making important product decisions based on distorted cost information because many cost systems are designed to focus on inventory valuation. If management should decide to implement a

    This post addresses tax yields and related issues.

    1. Do investors in high tax brackets or those in low tax brackets benefit more from tax-exempt securities? 2. Do municipal bonds or corporate bonds offer a higher before-tax yield at a given point in time? Which has the higher after-tax yield? 3. If taxes did not exist, would Treasury bonds offer a higher or lower yield than

    This post addresses issues in general ledger coding.

    Do I need to code the "parts used" to repair a company forklift to a "parts" GL account or should I code it all together (with the labor expense) under equipment repair and maintenance account? Also, is sales tax supposed to be charged to labor when repairing the forklift?

    Bruno Company Exercise for Expanding Operations

    Bruno Company has decided to expand its operations. The bookkeeper recently completed the balance sheet presented below in order to obtain additional funds for expansion. Prepare a revised balance sheet given the available information. Assume that the accumulated depreciation balance for the buildings is $160,000 and for the

    Engagement Planning

    What is the purpose of engagement planning? What critical information should the auditor consider during engagement planning? How will this information affect the scope of the audit?

    Addressing Current Ratios and High A/R Turnover

    Discuss what high current ratios indicate and why are businesses with extremely high current ratios (example: 25.0) at risk? Explain what a high accounts receivable turnover indicates to a business?

    This post addresses a distribution practice question.

    A corporation that has both preferred and common stock has a deficit in accuulated earnings and profit at the beginning of the year. The current earnings and profits are $25,000. the corporation makes a divided distribution of $20,000 to the preferred shareholders and $10,000 to the common shareholders. How will the preferred

    Price variance and quantity variance.

    Explain why the quantity purchased is used in computing the direct materials price variance, but the actual quantity consumed is used in computing the direct materials quantity variance. Why does an analogous question not arise in the context of the direct labor variance?

    Jernigan Ltd. Quality cost problem report

    Managerial Accounting problems 1. Jernigan Ltd. Is a textile manufacturer in the southeastern United States, with annual sales of $15 million. Jennigan is a weaver of high end upholstery fabric. Until just a few years ago, the US textile industry was the leading producer of such high-end fabric, but recent imp0rovement s in

    costs assigned to the units transferred out

    FIFO Aluminum processes a single type of aluminum. During the current period the following information was given: Units Materials Costs Converstion Costs Beginning Inventory 3,000 $4,500

    B&B Electric Corporation: Two-variance overhead analysis

    B&B Electric Corporation: Standard cost: Materials (2lb x $ per lb)...................................$10.00 Labor (4 hr x $6 per hr)....................................$24.00 Factory overhead (4 hr x #3.38* per hr............$13.52 total standard cost...........................................$47.52 * $1.00 variable +

    Addressing Other Comprehensive Income (OCI)

    Can you assist me with this question? Other Comprehensive Income (OCI) appears on income statements but what is the term for unrealized gains (losses) that are shown in the equity section of the balance sheet? Is this part of OCI as well?

    Career Plan after Graduations

    I need some help in answering the following: - Share your career plans after graduation and the specific steps you have taken to prepare for your career during college, including meeting with career services, attending workshops, job fairs, internships, networking events and other relevant career-related activity. If you have

    Costs, Expenses and Performance

    Please match the following items with the correct descriptions. Answer _____Activity-based costing _____Indirect Expenses _____Controllable Costs _____Joint Costs _____Transfer Price Answers A. Costs incurred to produce or purchase two or more products at the same time. B. Costs that are incurred for the joint bene

    type of cost

    In the Mattel factory they are spending hours upon hours making the new action figures for the upcoming film MATRIX IV-THE RISE OF NEO. In this process they are using tons of raw plastic to make the many different action figures needed to coincide with the film's anticipated debut. The cost of this raw plastic is not considered

    Preferred shares for common shares at a specified rate?

    1. Which of the following gives holders the option to exchange their preferred shares for common shares at a specified rate? Answer A. Convertible Preferred Stock B. Participating Preferred Stock C. Nonparticipating Preferred Stock D. Callable Preferred Stock 2. Carrie Funston was reviewing the bond ratings of

    One-Time Tax and Tax Revenue

    Please help with the following business-related problem. Real estate magnate Donald Trump once proposed a one-time tax of 14.25 percent on the net wealth of every American with more than $10 million. Would this be an efficient way to raise tax revenue? Why or why not?

    Federal taxation 2012

    Search the Internet for at least four (4) stories about major charitable contributions by individuals, including Bill Gates, Warren Buffett, Steve Jobs, and at least one (1) other individual. Be mindful that you are not researching foundations, such as the Bill and Melinda Gates Foundation for this assignment. Write a 3-4 page

    Calculate and report the mean, median, and mode of the data

    State again the type of data you have been collecting. Calculate and report the mean, median, and mode of the data (at lease 20 observations, preferably more). Now calculate the standard deviation of the data. For this calculation compute the difference between each one of the observations and the mean, (this number may be po

    Osage Inc. - Production and purchases budgets

    Osage Inc.. has actual sales for June and July and forecast sales for August, September, October, and November as follows: Actual: June 4,150 units July 4,350 units Forecasted: August 4,200 units September 4,950 units October 3,900 units November 3,700 units Requ

    Describe fee-for service and activity based costing (ABC)

    1. Consider a health care organization with which you are familiar and discuss how do provider incentives differ when the provider moves from a fee-for-service to a capitated environment? 2. Discuss briefly the activity-based costing (ABC) and explain how ABC can differ from traditional costing approaches? Consider a health c

    Kudler Fine Foods Automated Process of Accounting Information Systems

    Similar to any business, Kudler Fine Foods uses payroll, accounts payable, accounts receivable, and inventory processes. All four of these processes might be improved by the use of accounting information systems. Your accounting firm has assigned you to the team that will recommend systems to improve automation of these processe

    multiple-step form or the single-step form

    The accountant of Weatherspoon Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2010. Rental revenue $29,000 Interest expense 18,000 Market appreciation on