The Beal Manufacturing Company's costing system has two direct-cost categories:direct materials and direct manufacturing labor. Manufacturing overhead (both variable and fixed) is allocated to products on the basis of standard direct manufacturing labor hours (DLH). At the beginning of 2009, Beal adopted the following standards
Union Products has seven operating segments. Data on the segments are as follows: Segments Segment Segments Revenues Profit
The US government recently bailed out several companies by making investment in their preferred shares. What are the advantages or disadvantages to the company?
Please go to http://www.sec.gov/litigation/litreleases/lr17796.htm. This SEC litigation release identifies Daniel Jacobs as a co-conspirator in Slatkin's effort to deceive the SEC. Pay close attention to the bulleted section. a. What do you learn about NAA Financial? b. Who is Michel (Mitchell) Axiall?
Scope is indeed important; as is the need sometimes to change it...happens all the time! Question: does this mean the Critical Path Analysis (CPA) can change during the lifetime of a project? Please include references.
Sam, Carl, Lucy and Sylvia form Pine Corporation with the Following considerations: Basis to Fair Market Number of Transferor Value shares Issued From Sam Inventroy 30,000 96,000 30 * From Carl Equipment ($30000 of depreciatio
What are the various types of consumption taxes? What are the justifications for each type Why are general sales taxes and excise taxes on liquor and tobacco often regressive? What are the major benefits and disadvantages of imposing user charges?
E16-6 (Conversion of Bonds) On January 1, 2007, Gottlieb Corporation issued $4,000,000 of 10-year, 8% convertible debentures at 102. Interest is to be paid semiannually on June 30 and December 31. Each $1,000 debenture can be converted into eight shares of Gottlieb Corporation $100 par value common stock after December 31, 20
The managers of Quince Products (Problem 1-31) decide they will hire a management accountant to help them analyze the decision to expand their product line. They solicit bids from various accountants in the city and receive three proposals. In describing Accountant A: "I have recently advised the symphony
Access the FASB Codification ad http://asc.fasb.org/home to prepare responses to the following exercises. Provide Codification references for your responses. 1. Access the glossary ("Master Glossary") to answer the following. (a) What are trading securities? (b) What is the definition of "holding gain or loss"? (c) W
What is the retirement plan in your place of employment? Do you think this is an advantageous and beneficial plan to the employees? How about to the company itself? Explain.
Step down method, Break-even point, Cost Variance, and Split-off point ************************************************************ 4 Blower Company is divided into four departments. Departments A and B are service departments and Departments 1 and 2 are operating (production) departments The services of the two servic
ABC Company has the following items in its audited financial statements for the year ended 31 March 2011. (i) Freehold land costing $100 million is revalued to $150 million. For tax purposes, there is no depreciation. Gain or losses on disposal of land at the revalued amount will be taxable. (ii) A machine cost $200 millio
Assume that you are offering a freelance pizza delivery service for local pizza stores that do not have their own delivery service. Based on the going rate for pizza in your market area and the geographic market you plan to cover, create a breakeven analysis for your new business. You are free to negotiate a percentage of the fo
Increasingly, employees are being allowed to choose benefit packages from a menu of items. For instance, workers may be given a package of benefits that includes basic and optional items. Basics might include modest medical coverage, life insurance equal to a year's salary, vacation time based on length of service, and some retirement pay. But then employees can use credits to choose among such additional benefits as full medical coverage, dental and eye care, more vacation time, additional disability income, and higher company payments to the retirement fund. Using the theory of consumer behavior, how do you think flexible benefit packages would affect an employee's preference between higher wages and more benefits?
Increasingly, employees are being allowed to choose benefit packages from a menu of items. For instance, workers may be given a package of benefits that includes basic and optional items. Basics might include modest medical coverage, life insurance equal to a year's salary, vacation time based on length of service, and some reti
See attached file. Darius Company operating budget for October had anticipated pretax operating income of $75,000. Drew Mackenzie, Dariusas general manager, was therefore disappointed when, in early November, Dariusas controller gave him a report showing that only $3,000 of operating income had been earned in October (see Exh
Distributing a bonus pool Four broad approaches to distributing the proceeds of a bonus pool in a profit- sharing plan are listed below: 1. Each person's share is based on salary 2. Each person receives an equal share 3. Each person's share is based on position in the organization (larger payments to people at higher le
Please compare and contrast the FASB and the GASB. Provide references .
Allison's Engines -- the month, the following events occurred: Materials costing $6,500 were purchased on account. Direct materials costing $3,000 were placed in process. A total of 380 direct labor hours was charged to individual jobs at a rate of $15 per hour. Overhead costs for the month of January were as follow:
New machinery was installed to replace a number of employees, who were paid an extra month's wages and dismissed. This amount was added to the cost of the machinery. Discuss the propriety of the charge. If it was improper, describe the proper treatment.
Yellow Industries decides to price delivery service according to the results of a recent activity-based costing (ABC) study. The study indicates Yellow should charge $8 per order, 2% of the order's value for general delivery costs, $1.25 per item, and $30 for delivery. A year later, Yellow collected the following information fo
What are the differences between Absorption Costing Versus Variable Costing? Give an explanation and a complete example.
The following data are for the two products produced by Aplan Company. Product A Product B Direct materials $ 15 per unit $ 24 per unit Direct labor hours 0.3 DLH per unit 1.6 DLH per unit Machine hours 0.1 MH per unit 1.2 MH per unit Batches 125 batches 225 batches Volume 10,000 units 2,000 units Engineering modificat
Aunt Ethel's Fancy Cookie Company manufactures and sells three flavors of cookies: Macaroon, Sugar, and Buttercream. The batch size for the cookies is limited to 1,000 cookies based on the size of the ovens and cookie molds owned by the company. Macaroon Sugar Buttercream Projected sales in units
The median is often a better representative of the central value of a data set when the data set: A. Is Bimodal B. Is highly skewed C. Has a high standard deviation. D. Has no outliers.
In the following table are demand and cost data for a pure monopolist. Complete the table by filling in the columns for total revenue, marginal revenue, and marginal cost. Answer these three questions: (a) What output will the monopolist produce? (b) What price will the monopolist charge? (c) What total prof
See attached file. E17-27 Cost of production Report: No beginning inventories Oregon Paper Company produces newsprint paper through a special recycling process using scrap paper products. Production and cost data for October 2009, the first month of operations for the company's new Portland plant, follow: Units of prod
On Cursor Corporation's balance sheet, a large tract of company-owned land is reported at its original cost of $50,000. The owner of the company is upset, because he thinks the land's true value is ten times that amount. He fears the low-cost figure may hurt the company as it tries to raise additional capital in the future. The
Scenario: SLL has a partner, Dick, who is involved in a nasty divorce. This partner's soon-to-be former wife Georgia had a very successful company. He feels his wife is trying to hide income from him. Dick asks you if a forensic accountant would be helpful in this situation. Report on the following: You do some research
Norr and Caylor established a partnership on January 1, 2010. Norr invested cash of $100,000 and Caylor invested $30,000 in cash and equipment with a book value of $40,000 and fair value of $50,000. For both partners, the beginning capital balance was to equal the initial investment. Norr and Caylor agreed to the following proce