Waller Inc. uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in the beginning work in process inventory 600 Materials costs $ 4,200 Conversion costs $ 7,800 Percent complete with resp
Why are some firms dropping standard cost systems? Explain
What is the equivalent annual cost of a precision lathe that costs $21,000 and $31,000 a year to operate and maintain?
A precision lathe costs $21,000 and will cost $31,000 a year to operate and maintain. If the discount rate is 15% and the lathe will last for 4 years, what is the equivalent annual cost of the tool? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Equivalent annual cost= $___________
Please see attached problem set for tables, and a separate template file. Problem 20.2A Blaster Corporation manufacturers hiking boots. For the coming year, the company has budgeted the following costs for the production and sale of 30,000 pairs of boots: Budgeted Costs Budgeted Costs per Pair Percentage of Costs Consid
Suppose you arrive at a store expecting to pay $100 for an item but learn that a store 2 miles away is charging $50 for it. How does the decision benefit you? What is the opportunity cost of this decision? Now suppose you arrive at a store expecting to pay $6000 for an item but discover that it costs $5950 at the other store. D
The management of Sharrar Corporation would like to investigate the possibility of basing its predetermined overhead rate on activity at capacity rather than on the estimated amount of activity for the year. The company's controller has provided an example to illustrate how this new system would work. In this example, the a
Prepare responses to the following assignment from the e-text, financial accounting: Tools for Business Decision Making 4th ed., by Kimmel, Weygandt and Kieso Chapter 8 Question 3 and 4 3. What are the essential features of the allowance method of accounting for bad debts? 4. Lauren Anderson cannot understand why the cash realizable value does not decrease when an uncollectible account is written off under the allowance method. Clarify this point for Lauren. Chapter 8: Exercise E8-5 Hachey Company has accounts receivable of $95,100 at March 31st, 2007. An analysis of the accounts shows these amounts Balance, March 31 Month of Sale 2007 2006 March $65,000 $75,000 February $12,600 $8,000 December & January $10,100 $2,400 November & October $7,400 $1,100 Credit terms are 2/10, n/30. At March 31st, 2007, there is a $2,200 credit balance in Allowance for Doubtful prior to adjustment. The company uses, the percentage of receivables basis for estimating uncollectible accounts. The company's estimates for bad debts are shown on page 402. Estimated Percentage Age of Accounts uncollectible Current 2% 1-30 days past due 7% 31-90 days past due 30% Over 90 days 50% Instructions (a) Determine the total estimated uncollectibles. (b) Prepare the adjusting entry at March 31st, 2007, to record bad debts expense. (c) Discuss the implications of the changes in the aging schedule from 2006 to 2007. Prepare responses to the following assignment from the e-text, Financial and Managerial Accounting: The Basis for Business Decision 13th ed., by Williams, Haka, and Bettner Chapter 9: Exercise E9.9 For several years, a number of Food Lion, Inc., grocery stores were unprofitable. The company closed, and continues to close, some of these locations. It is apparent that the company will not be able to recover the cost of the assets associated with the closed stores. Thus, the current value of these impaired assets mist be written down (see the Case in Point on page 381). A recent Food Lion income statement reports a $9.5 million charge against income pertaining to the write-down of impaired assets. (a) Explain why Food Lion must write down the current carrying value of its unprofitable stores. (b) Explain why the recent $9.5million charge to write down these impaired assets is considered a non-cash expense.
Can you help me with the following assignment? I don't quite understand everything... Prepare responses to the following assignment from the e-text, financial accounting: Tools for Business Decision Making 4th ed., by Kimmel, Weygandt and Kieso Chapter 8 Question 3 and 4 3. What are the essential features of the allowan
Are variable cost always relevant costs? Example of a company of five different relevant costs that they might have in their orgainzation.
Jo Boat Company makes boats and incurs painting costs as follows over the last six months: January, 8 boats, $270; February, 5 boats, $200; March, 10 boats, $310, April , 4 boats, $190; May, 6 boats, $240; and, June, 9 boats, $290. Estimate the total painting cost for a month when 12 boats are produced.
Heritage Company manufactures a beautiful bookcase that enjoys widespread popularity. The company has a backlog of orders that is large enough to keep production going indefinitely at the plant's full capacity of 3,900 bookcases per year. Annual cost data at full capacity follow: Direct materials used (wood and glass) $
Managerial Accounting: Did Clear-View increase unit sales by cutting prices or by using some other strategy?
a. Did Clear-View increase unit sales by cutting prices or by using some other strategy? b. Is Mr. Radeka correct in his conclusion that something is wrong with the company's performance evaluation process? If so, what do you suggest be done to improve the system? c. Prepare a flexible budget and recompute the budget variance
Klumper Corporation is a diversified manufacturer of industrial goods. The company's activity- based costing system contains the following six activity cost pools and activity rates: K425 M57 Direct Materials cost per unit $13.00 $56.00 Direct Lab
Managerial Accounting: Importance of both price (rate) and volume (efficiency) variances when rewarding employees for satisfactory work
1. Why is it important to investigate both price (rate) and volume (efficiency) variances when rewarding employees for satisfactory work when performance evaluations are based on meeting budgets? 2. What are some qualitative considerations that might be helpful in employee performance evaluations?
Please see attachment for proper format. Far North Telecom, Ltd., of Ontario, has organized a new division to manufacture and sell specialty cellular telephones. The division's monthly costs are shown in the table below. Far North Telecom regards all of its workers as full-time employees and the company has a long-standing no
Describe customer perceived value, total customer benefit, and total customer cost. How do the total customer benefit and the total customer cost affect the consumer's perception? Explain. 2. What are some of the ways that a business can attract and retain customers? 3. What are the five stages in the buying decision process? Briefly describe each. 4. What is a niche market? What does an attractive niche market look like? 5. What is a market segment? What are some of the factors that may be used to narrow the market down into segments? 6. How would you describe a brand? What roles do brands play in the market? 7. What is brand equity? Provide an example. 8. When you analyze your competitors, what are the areas of greatest concern? Using the soft drink industry, provide examples of the type of information required.
1. Describe customer perceived value, total customer benefit, and total customer cost. How do the total customer benefit and the total customer cost affect the consumer's perception? Explain. 2. What are some of the ways that a business can attract and retain customers? 3. What are the five stages in the buying decision
Please see attached file. Bourbon coffee is one of the most popular Arabica coffees sold in the world. It was first produced on the French island of Ã?le Bourbon and was later taken by the French to Africa and Latin America. The president wants to introduce a new premium line of Bourbon coffee beans and has sourced premium g
Financial ratios are important to the understanding of the financial health of a company. You and your colleagues work for a financial services firm. You are discussing the merits of the various financial ratios. Identify four financial ratios, and state what they tell you about a firm and why it is important to understand what
Home Auto Parts is a large retail auto parts store selling the full range of auto parts and supplies for do-it-yourself auto repair enthusiasts. The store is arranged with three prime displays in the store: front door, checkout counters, and ends of aisles. These display areas receive the most customer traffic and contain special stands that display the merchandise with attractive eye-catching designs. Each display area is set up at the beginning of the week and runs for one week. Three items are schedules next week for special display areas: Texcan Oil, windshield wiper blades, and floor mats. The accompanying table provides information for the three promotional areas scheduled to run next week: Planned Display for Next Week End of Checkout Aisle Front door Counter Item Texcan Oil Wiper blades Floor mats Sales Price 69 cents/can $9.99 $22.99 Projected weekly volume 5,000 200 70 Unit Cost 62 cents $7.99 $17.49 Based on past experience, management finds that virtually all display-area sales are made by impulse buyers. The display items are extra purchases by consumers attracted by the exhibits. Before the store managers sets up the display areas, the distributor for Armadillo car wax visits the store. She says her firm wants its car wax in one of the three display areas and is prepared to offer the product at a unit cost of $2.50. At a retail price of $2.90, management expects to see 800 units during the week if the wax is on special display. Required: a. Home Auto has not yet purchased any of the promotion items for next week. Should management substitute the Armadillo car wax for one of the three planned promotion displays? If so, which one? b. A common practice in retailing is for the manufacturer to give free units to a retail store to secure practice in space or shelf space. The Armadillo distributor decides to sweeten the offer by giving Home Auto 50 free units of car wax if it places the Armadillo wax on display. Does this change your answer to part (a)?
Can you help me with the following project? Home Auto Parts is a large retail auto parts store selling the full range of auto parts and supplies for do-it-yourself auto repair enthusiasts. The store is arranged with three prime displays in the store: front door, checkout counters, and ends of aisles. These display areas rec
Can you help me get started on this assignment? Complete the following exercise: Frank Weston, supervisor of the Freemont Corporation's Machining Department, was visibly upset after being reprimanded for his department's poor performance over the prior month. The department's cost control report is given below: Freemont C
See attached case file. Answer the following questions. Provide all necessary calculations to support your answers. 1) Why do you think that HDP selected pounds of butterfat as an allocation basis? Would you suggest a different allocation base? 2) Using cost estimates from the existing system presented in table 2, woul
You are provided with the following data relating to gizmo division of Tumbledown plc. Variable cost per unit = $320 for outputs up to 16,000 units = $240 for extra outputs over 16,000 units Fixed costs = $1,200,000 Sales during the last period were 16000 units @ $400 per unit The directors are far from satisfi
You will complete an industry analysis of a U.S. industry of your choosing. Each student must choose a different industry. The following is a suggested outline. 1 Introduction including identification of chosen industry 2 Industry characteristics 3 Types of products and/or services 4 Number of firms including concentrati
See Attached Spreadsheet. A condensed income statement for XYZ Company is as follows for the month of November: Master Budget Actual Variance Units Produced and Sold 20,000 19,000 (1,000) Sales revenue $400,000 $361,000 $(39,000) Costs: Direct materials 60,000 42,000 $18,000
The Toque cooking academy runs short cooking courses at its small campus. Management has identified two costs drivers that it uses in its budgeting and performance reports-the number of courses and the total number of students.For example, the school might run four courses in a month and have a total of 60 students enrolled in t
ASSIGNMENT Run the Tablet Development simulation with your strategy, making decisions year by year for prices and R&D allocations. To reach the simulations (click here). http://forio.com/simulate/jelson/tablet-development-sim/simulation/#p=page0 Write a report that shows your decisions and the results. Discuss why you
ABC Company pays for purchases 40% in the month of purchase, and the balance in the following month. Recent purchases have been: August, $2,500; September, $5,000; October, $4,000; November, $5,000. What is the amount of cash disbursed to suppliers in October? A company produces a single product, with a selling price of $10 a
Midlands Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of Ã?£430,000 on sales of Ã?£1,800,000. The company's average operating assets for the year were Ã?£2,000,000 and its minimum required rate of return
1. (Cash conversion cycle) Auburn Hair Products has an inventory turnover of six times per year, a receivables turnover of 10 times, and a payables turnover of 12 times. What are Auburn Hair's inventory conversion period, receivables collection period, and payables deferral period? What is the cash conversion cycle? 2. (Ca
A firm currently has a 36 day cash cycle. Assume that the firm changes its operations such that it decreases its receivables period by 4 days, increases its inventory period by 1 day and decreases its payable period by 2 days. What will the length of the cash cycle be after these changes?
a. The Dallas plant of Oscar Chemical processes talphazine into zetazine and gammazine. A batch consists of 20,000 gallons of talphazine, costing $11,000. Processing costs are $52,000 and results in 14,000 gallons of zetazine and 6,000 gallons bammazine. Raw material and processing costs are allocated to the tow products base