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Accounting

Price per Unit for Special Order

Chechny business has received one time special order for 1,000 units. Producing the order will have no effect on production and sales of other units. They buyer's name will be stamped on each unit, at a costs of $2,000. Normal cost data, excluding stamping, as follows: Direct materials..............................$10 per un

Define Contributing Plan

(1) A defined contributing plan provides for seven year vesting schedule. Fred Ziegler completes the following service Year Hours of Service 2002 1,000 2003 3

Scott Rothstein Fraud Case of Pertinent Facts

Describe the Scott Rothstein fraud case to organize the pertinent facts and issues you've found in your research. about 600 words, five references Starts with.... The fraud case affected several investors who claim that they have lost fortune in the massive scam that was brainwork of Scott Rothstein. Rothstein, along

Change in Operating Income

The Clemson Company reported the following results last year for the manufacture and sale of one of its products known as a Tam. (chart attached) Clemson Company is trying to determine whether or not to discontinue the manufacture and sale of Tams. The operating results reported above for last year are expected to contin

Behr Paint Company: Tools to improve its Management Accounting Systems

Behr Paint Company manufactures and sells multiple lines of paints in various colors. Recently, with the introduction of a number of new products, management has sensed that some cost characteristics of the production process have changed. First, some of the new products require more set up time between production runs. Certa

Managerial Accounting. Cost Accounting. Budgeting

1. Use the following information to complete A, B, and C. Laboe Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During February, the kennel budgeted for 2,900 tenant-days, but its actual level of activity was 2,940 tenant-days. The kennel has provi

Cost accounting questions for units

1. Total work-in-process during the period is the sum of the beginning work-in-process inventory and the total manufacturing costs incurred during the period. True False 2. The variable cost per unit is defined to be constant despite changes in the volume of activity within the relevant range. True False 3. Per

Variable costing/Absorption costing/Breakeven

ABC, Inc. is a newly organized manufacturing business this year. The following company's costs and expenses are: Sales price per unit $55 Manufacturing costs: Direct materials Direct labor Variable Manufacturing overhead Fixed Manufacturing overhead Period expenses: Variable Selling an

Solving for unknowns in financial accounting

J Income: $280,000 Revenue: $_______ Invested capital: $______ Return on sales: 7% Capital turnover: 4 Rate on return on invested capital: _____% Cost of capital: 16% Economic profit: $_____ K Income: $_____ Revenue: $_______ Invested capital: $3,000,000 Return on sales: 4% Capital turnover: _____ Rate on retur

Financial Accounting: Bank reconciliation, cash controls, practice exam problems

Osage farm supply had poor internal control over its cash transaction. Facts about the company's cash position at nov 30 are described below. The accounting records showed a cash balance of $35,400 which included a deposit in trainsit of $1,245. The balance indicated in the bank statement was $20,000. Included in the ban

Quick and Current Liquidity Ratios, DuPont Ratio, Profit Margin

GE does business in Puerto Rico. Compute the quick and current liquidity ratios, the DuPont ratio, profit margin, asset utilization, and financial leverage for GE. Discuss how measurement conventions (IASB and FASB) affect presentations. If your chosen company uses the cash basis of accounting, how would that differ from the

Financial Accounting: Equity transactions: Journal Entries: Treasury Stock

On January 1, 2010, the stockholders equity section of Lopez Corporation shows: Common stock ($5 par value) $1,500,000; paid-in capital in excess of par value $1,000,000; and retained earnings $1,200,000. During the year, the following treasury stock transactions occurred. Mar. 1 Purchased 30,000 shares for cash at $15 per sh

Overhead cost allocation

Please help with this problem. Assume a builder is constructing three houses simultaneously. The direct materials and direct labor costs for each house are shown below: House 1 House 2 House 3 Direct Materials $ 140,000 $ 70,000 $ 90,000 Direct Labor 210,000 130,000 60,000 Overhead Indirect cos

Assess impact of transactions on accounting equation components

Using the column headings provided below, show the effect, if any, of the transaction on each financial statement category by indicating whether it is an addition (+) or subtraction (-) and showing the amount in the appropriate column. Do not show items that affect net income in the retained earnings column. You should assume th

Redbird Corporation Taxable Income and E&P Calcluation

Redbird Corporation, a calendar year taxpayer, receives dividend income of $250,000 from a corporation in which it holds 10% interest. Redbird also received interest income of $35,000 from municipal bonds. (The municipality used the proceeds from the bond issue to construct a library). Redbird borrowed funds to purchase the muni

Cost accounting: Acquatic Manufacturing

Can you help me get started on this assignment? Acquatic Manufacturing uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to jobs on the basis of direct labor cost in Department A, direct labor hours in Department B, and machine hours in Department C. In establish

E8.6 Common stock issue price; E8.8 Preferred stock dividend amount

E 8.6 Common stock-calculate issue price and dividend amount The balance sheet for common stock is the following: Common stock without par value, 2,000,000 shares authorized, 400,000 shares issued, and 360,000 shares outstanding - $2,600,000 Required: a. Calculate the average price at which the shares were issued.

Delivery Service and Period Costs

Determine the total amount of (a) delivery service (product) costs and (b) period costs. An incomplete cost of goods manufactured schedule is presented below. Madlock Manufacturing Company Cost of Goods Manufactured Schedule For the Year Ended December 31, 2005 Work in process (1/1) $210,000 Direct materials Raw mate

EOQ question

Sample question to help me with my homework; I am having a hard time figuring out the steps. Thanks! Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. Thomas' fastest moving inventory item has a demand of 6000 units per year. The cost of each u

Problem on Business Scenario Changes

Total Company G Division R Division Sales 850,000 250,000 600,000 Less variable expenses 505,000 145,000 360,000 Contribution margin 345,000 105,000 240,000 Less traceable fixed costs 145,000 45,000 100,000 Division segment margin 200,000 60,000 140,000 Less common fixed cost 130,000 Net income 70,000 a.