Various Financial Accouting Questions

See attachment

Problem 4-14 - Refer to problems at the end of the chapter for details and instructions:
Use template to complete the problem:

Bradley Corporation
COST FOR JULY, 201X Units Sold 13,000
Material $2 Price per Unit $16
Labor $4 Beginning Inventory 3,000
Overhead $2 Units Produced 12,000
$8 Cost July-Dec. $11

Solution:
Sales Value of Ending Inventory:
Cost of goods sold: Beginning Inventory
Old Inventory: FIFO Total Production
Quantity (Units) Total Inventory available for sale
Cost per Unit Cost of goods sold
Total Ending Inventory
New Inventory:
Quantity (Units)
Cost per unit
Total
Total Cost of Goods Sold:
Gross Profit

Problem 4-17 - Refer to problems at the end of the chapter for details and instructions:
Use template to complete the problem:

Victoria's Apparel
Credit Sales
September $50,000 Sales Collected in month of sales 20%
Fourth Quarter Sales Collected the following month 70%
October $40,000 Sales never collected 10%
November $35,000
December $60,000

Solution:
September October November December
Credit Sales
20% collected
70% collected
Total Collected

Problem 4-27 - Refer to problems at the end of the chapter for details and instructions:
Use template to complete the problem:

Owen's Electronics
Sales 100,000,000 Balance Sheet (in $ millions)
Profit Margin 7% Cash 2 Accounts payable 15
Dividend Payout Ratio 40% Accounts Receivable 20 Accrued wages 2
Sales- increase next year 10% Inventory 23 Accrued taxes 8
100 Current Assets 45 Current Liabilities 25
110,000,000 Fixed Assets 40 Notes Payable 10
Common stock 15
Retained Earnings 35
Total liabilities &
Total assets 85 Stockholders' equity 85

Solution:
Change in sales
Required New funds

RNF

Problem 5-8 - Refer to problems at the end of the chapter for details and instructions:
Use template to complete the problem:

Air Purifier, Inc.
Fixed Costs $2,400,000
% of Depreciation value 15%
Depreciation $360,000
Contribution Margin $30.00

Solution:

Cash Related Fixed Costs =

Cash Breakeven =

Problem 5-11 - Refer to problems at the end of the chapter for details and instructions:
Use template to complete the problem:

Harding Company Solution:
Number of units = Q 10,000 a) DOL =
Sales Price per Unit = P $50
Variable Costs per Unit = VC $20
Fixed Costs = FC $150,000 b) DFL =
Interest Expense = I $60,000
Taxes 40%
Harding Company c) DCL =
Income Statement
For the Year Ended Dec. 31, 201X
Sales (10,000 tires @ $50 each) $500,000 d) BE =
Variable costs (10,000 tires @ $20) ($200,000)
Fixed Costs ($150,000)
EBIT $150,000
Interest Expense ($60,000)
EBT $90,000
Income Taxes @ 30% ($36,000)
EAT $54,000

Problem 5-15 - Refer to problems at the end of the chapter for details and instructions:
Use template to complete the problem:

U.S Steal Income Statement Data
Units Sold Total VC Fixed Costs Total Costs Total Revenue Operating Income
40,000 $80,000 $50,000 $130,000 $160,000 $30,000
60,000 $120,000 $50,000 $170,000 $240,000 $70,000
Solution:
a)
DOL =

b) Q =
P =
VC =
DOL =