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Accounting

Lawson, Inc: Calculate break even point in units

Lawson, Inc. sells a single product for $12. Variable costs are $8 per unit and fixed costs total $360,000 at a volume level of 60,000 units. Assuming that fixed costs do not change, Lawson's break-even point would be:

Net income under variable and absorption costing methods

Dayton Lighting Company had net income for the first 10 months of the current year of $200,000. One hundred thousand units were manufactured during this period (the same as the planned production), and 100,000 units were sold. Fixed manufacturing overhead was $2,000,000 over the 10-month period (i.e., $200,000 per month). There

Casings Plant of Wyoming Machines: Materials to be purchased

I don't know how to do part 2 in finding materials to be purchased. This window shows what is correct and incorrect for the work you have completed so far. Even if all of the work you have done so far is correct, you may not have completed everything. The Casings Plant of Wyoming Machines makes plastics shells for the comp

Tuscarora Paper: Inventoriable cost under variable and absorption

Information taken from Tuscarora Paper Company's records for the most recent year is as follows: Direct material used $ 290,000 Direct labor 100,000 Variable manufacturing overhead 50,000 Fixed manufacturing overhead 80,000 Variable selling and administrative costs 40,000 Fixed sell

Return on Sales, Investment Turnover, ROI, Residual income

See attached file for proper format. Yard Products Company Below is an income statement for the most recently ended year for the Yard Products Company and its two divisions: Shovel Hoe Co. Total Sales............................................. $900,000 $600,000 $1,500,000 Variable Costs..........

Explain types of accounting information that are important when making decisions

Consider the following scenario: You are a senior level manager in a large company: List and explain the types of accounting information that are important to you and your staff when making decisions. Explain how your managerial accountant uses technology to develop and communicate this information throughout your large

Managerial Accounting: Objectives of internal control, importance of information

Unit 1 Individual Project Details: You are the manager of an accounting department and would like to hire another managerial accountant to focus on internal accounting. The CEO is not convinced that a managing accountant position is needed. Prepare a memo for the CEO on the following: Explain the objectives and characteris

At Morris Mart, Inc., all sales are on account. Mary Morris

At Morris Mart, Inc., all sales are on account. Mary Morris-Manning is responsible for mailing invoices to customers, recording the amt billed, opening mail, and recording the payment. Mary is very devote and never takes off more than 1 or 2 days for a long weekend. Mary sometimes receive personal notes with payments from cus

types of accounting information; managerial accounting

You are a senior level manager in a large company: List and explain the types of accounting information that are important to you and your staff when making decisions. Explain how your managerial accountant uses technology to develop and communicate this information throughout your large company.

Security for customer data; fraud detection, forensic accounting

Write a paper in which you: 1) Evaluate the obligation Flayton Electronics has to its customers to protect their private data. 2) If you were the CEO, develop the communication strategy you would take to notify the customers of the potential security breach. 3) Determine the extent to which Flayton Electronics' bra

General Motors Financial Problems

General Motors (perhaps I should now say "Government Motors") had many financial problems. Clearly, the company had insufficiently funded reserves to pay for pensions. Full funding of these obligations as they were incurred would have kept any recent cash problem from arising, would have had the accounting virtue of assigning th

Accounting

Tonga Toys manufactures and distributes a number of products to retailers. One of these products, Playclay, requires five pounds of material A135 in the manufacture of each unit. The company is now planning raw materials needs for the third quarterâ?"July, August, and September. Peak sales of Playclay occur in the third quarter

Galehouse Gas Stations: Growth, financing and dividends

Galehouse Gas Stations, Inc. expects sales to increase from $1,500,000 to $1,700,000 next year. Mr. Galehouse believes that net assets (assets - liabilities) will represent 70% of sales. His firm has a 10% return on sales and pays 40% of profits out as dividends. 1. What effect will this growth have on funds? 2. If the d

Taylor Industries Account Payable; Discount; Entry

1. Taylor Industries purchased supplies for $1,000. They paid $500 in cash and agreed to pay the balance in 30 days. The journal entry to record this transaction would include a debit to an asset account for $1,000, a credit to a liability account for $500. Which of the following would be the correct way to complete the recordi

Nation's Capital Fitness: Estimate variable and fixed costs; write an equation

Nation's Capital Fitness, Inc. operates a chain of fitness centers in the Washington, D.C., area. The firm's controller is accumulating data to be used in preparing its annual profit plan for the coming year. The cost behavior pattern of the firm's equipment maintenance costs must be determined. The accounting staff has suggeste

Report Cash Flows From Operating Activites - Indirect Method

See attached file for proper format. 16-4A - Gallery Corp., a merchandiser, recently compiled its 2011 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts, Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payab

Adjusting entry to report these investments at fair value

Problem attached 15-7 - On December 31, 2011, Rollo Company held the following short-term investments in its portfolio of available-for-sale securities. Rollo had no short-term investments in its prior accounting periods. Prepare the December 31, 2011, adjusting entry to report these investments at fair value. Cost Fair Val

Accounts Receivables Pension Liability

Multiple Choice, Question 65 Seasons Construction is constructing an office building under contract for Cannon Cafe. The contract calls for progress billings and payments of $620,000 each quarter. The total contract price is $7,440,000 and Seasons estimates total costs of $7,100,000. Seasons estimates that the building will t

Lone Oak's Manufacturing Overhead, Cost of Goods Manufactured

Raw material purchases $ 176,000 Direct labor 255,000 Indirect labor 109,000 Selling and administrative salaries 133,000 Building depreciation* 80,000 Other selling and administrative expenses 195,000 Other factory costs 342,000 Sales revenue ($130 per unit) 1,495,000 *Seventy-five percent of the

Physical Flow of Units, Equivalent Units, Unit & Total Costs

Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The following data have been compiled for the month of June. Conversion activity occurs uniformly throughout the production process. Work in process, June 1 - 50,000 units: Direct mater

Business Accounting

1. Work in Process, September 1 10,000 tons Units started during September ? tons Units completed during September 20,000 tons Work in process, September 30 4,000 tons 2. Work in process, February 1 12,200 kilograms Units started during February 2,6

Accounting for Concord Inc. Bonds

Concord Inc. issues (sells) $100,000 of its 10-year, 8% bonds to yield 10% on January 1, Year 1. The bonds pay interest annually on December 31. The bonds were sold with a discount of $12,289. What is the bond carrying amount (book value) at the end of Year 1? Concord Inc. issues (sells) $100,000 of its 10-year, 8% bonds to y

Accounting: Cost of Advertising and Warehouse Expense

A company has two major businesses that it operates. One business manufactures and sells unicycles for commercial use in circuses and so forth (total sales of $150M), and the other sells bicycles to the public (total sales of $20M). The unicycle business occupies 75,000 square feet of the manufacturing warehouse, and the bicycle

High-Low, Registration Analysis

On November 15, 2009, Sandra Cook, a newly hired cost analyst at Demgren Company, was asked to predict overhead costs for the companyâ??s operations in 2010 when 510 unites are expected to be produced. She collected the following quarterly data: Quarter Production In Units Overhead Costs 1/06 76

ACC/548 Government & Not-for-Profit

Give a basic summary of SPE's (compare and contrast). SPE's engaged in governmental activities. Please cite in paragraph and give bibliography.

Events and Recreation Management: Criterion to Evaluate Success

1. What is an example of a criterion to evaluate an event's success? What tool would you use to measure this criterion? What other tools could be used to measure this criterion? How would an event planner utilize this information? 2. What types of information are obtained from an ROI evaluation? From what perspective does an

Effect of Events on the Accounting Equation

Valmont, Inc., experienced the following events in 2012, in its first year of operations. 1. Received $20,000 cash from the issue of common stock. 2. Performed services on account for $50,000. 3. Paid the utility expense of $12,500. 4. Collected $39,000 of the accounts receivable. 5. Recorded $9,000 of accrued sal