Question: Question 14 Thunder Corporation, An Amusement Park, Is Considering A Capital Investment In Cost $144,123 And Have An Estimated Useful Life Of 7 Years. It Will Be Sold For $68,000 At That Time. (Amusement Parks Need To Rotate Exhibits To Keep People Interested.) It Is Expected To Increase Net Annual Cash Flows By $21,600. The Company’s Borrowing Rate …

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Get college assignment help at uniessay writers Question 14 Thunder Corporation, an amusement park, is considering a capital investment in cost $144,123 and have an estimated useful life of 7 years. It will be sold for $68,000 at that time. (Amusement parks need to rotate exhibits to keep people interested.) It is expected to increase net annual cash flows by $21,600. The company’s borrowing rate is 8%. Its cost of capital is 10%. Click here to view PV table. new exhibit. The exhibit would Calculate the net present value of this project to the company and determine whether the project is acceptable. (If the net present value is negative, use either a negative sign preceding the number eg -45 or parentheses eg (45). For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round present value answer to 0 decimal places, e.g. 125.) Net present value The project acceptable. Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER

Question: 1. 2. What Incremental Cost Will Martinez Incur If It Increases Production From 10,000 To 10,001 Units?

16 Martinez Company’s relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average costs per unit are as follows: Average Cost Part 14 of 15 per Unit Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense $6.00 $3.50 $1.50 $4.00 $3.00 10 points $2.00 $1.00 $0.50 eBook Print Reterences 14. If 11,000 units are produced, what are the total amounts of direct and indirect manufacturing costs incurred to sSupport this level of production? (Do not round intermediate calculations.) Total direct manufacturing cost Total indirect manufacturing cost Mc

Question: NAG Cherokee Inc. Is A Merchandiser That Provided The Following Information: Amount Number Of Units Sold 20,000 Selling Price Per Unit Variable Selling Expense Per Unit Variable Administrative Expense Per Unit Total Fixed Selling Expense Total Fixed Administrative Expense Beginning Merchandise Inventory Ending Merchandise Inventory Merchandise Purchases …

NAG Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 20,000 Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases 30 2 $ 40,000 $ 30, 000 $ 24,000 $ 44,000 $180, 000 ok int rences Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a traditional income statement. Mc w Hill

Question: Kubin Companys Relevant Range Of Production Is 18,000 To 22,000 Units. When It Produces And Sells 20,000 Units, Its Avarage Costs Per Unit Are As Follows: 1. Assume The Cost Object Is Units Of Production A. What Is The Total Direct Manufacturing Cost Incurred To Make 20,000 Units? ( Round Per Unit Values To Two Decimal Places ) B. What Is The Total …

Homework 1 Saved Help Unit Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense $7.00 $4.00 $1.50 $ 5.00 $ 3.50 $2.50 $1.00 $0.50 Required: 1. Assume the cost object is units of production: a. What is the total direct manufacturing cost incurred to make 20,000 units? b. Whát is the total indirect manufacturing cost incurred to make 20,000 units? ces 2. Assume the cost object is the Manufacturing Department and that its total output is 20,000 units. a. How much total manufacturing cost is directly traceable to the Manufacturing Department? b. How much total manufacturing cost is an indirect cost that cannot be easily traced to the Manufacturing Department? 3. Assume the cost object is the company’s various sales representatives. Furthermore, assume that the company spent $50,000 of its total fixed selling expense on advertising and the remainder of the total fixed selling expense comprised the fixed portion of the company’s sales representatives’ compensation. a. When the company sells 20,000 units, what is the total direct selling expense that can be readily traced to individual sales representatives? b. When the company sells 20,000 units, what is the total indirect selling expense that cannot be readily traced to individual sales representatives? < Prev 24 of 24 Next

Question: Kubin Companies Relevant Range Of Production Is 18,000 To 22,000 Units. When It Produces And Sells 20,000 Units, It’s Average Cost Per Unit Are As Follows:

O Saved Chapter 1 Homework 2 He 1 Average Cost per Unit Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense $7.00 $ 4.00 $1.50 10 $5.00 points $ 3.50 $ 2.50 $ 1.00 eBook $0.50 Print Required: 1. For financial accounting purposes, what is the total amount of product costs incurred to make 20,000 units? 2. For financial accounting purposes, what is the total amount of period costs incurred to sell 20,000 units? 3. For financial accounting purposes, what is the total amount of product costs incurred to make 22,000 units? 4. For financial accounting purposes, what is the total amount of period costs incurred to sell 18,000 units? References 1 Total amount of product costs 2 Total amount of period costs incurred 3 Total amount of product costs A Total amount of period costs Next > Mc. Prev 1 of 12 E a

Question: Hello.. The First 9 Pages ( Milestones 1 And 2) Are Already Completed. Please Complete The Last 3 Pages Using The Totals From Milestones 1 And 2.. Thank You.

MILeStonE 1 Conpleted aNd College of Continuing Education (COCE) ACC202 Managerial Accounting MILESTONE 2 (Due in Module 4) MILESTONE 1 (Due in Module 2) MILESTONE 3 (Due in Module 5) Instructions Milestone 3 Instructions Milestone 2 Instructions Milestone 1 1. 1 Contribution Margin 1 Company Profile CCOGM Schedule Create a Cost of Goods Manufactured Schedul Choose a price range and calculate: Name Grooming Location Day Care Vision Boarding Mission 2 2. Income Statement Break-Even Analysis Cost Classification Create an Income Statement Calculate the break-even units Identify the following: Revenue will be provided end of week 4 Grooming Direct Materials Day Care Diret Labor Boarding Calculate the break-even for target profits Manufacturing Overhead Period Costs 3. Variances Grooming Variable

Question: Problem 18 The Lynn Inn, A 100-room Lodging Facility, Is Proposed For Construction In The North-central Part Of The United States. The Total Cost Of Construction Is $5,000,000. Another $200,000 Is Required For Franchise Costs And Working Capital Purposes. Franchise Costs Of $100,000 Are To Be Amortized Over The First Five Years Of Operations. To Simplify …

Problem 18 The Lynn Inn, a 100-room lodging facility, is proposed for construction in the north-central part of the United States. The total cost of construction is $5,000,000. Another $200,000 is required for franchise costs and working capital purposes. Franchise costs of $100,000 are to be amortized over the first five years of operations. To simplify the problem, depreciation is calculated on a straight-line basis over 24 years (assume $200,000 of salvage value). The owners will borrow $3,000,000 at an annual interest rate of 12 percent. The owners desire an 18 percent return on their equity investment. Other unallocable costs, except for management fees, total $1,500,000 annually. Management fees are based on 3 percent of room sales Assume that gift shop department and food service department profits total $0 and $300.000, respectively. Further assume that all room department costs are variable and total 25 percent of room revenues, and that the Lynn Inn can achieve a 70 percent occupancy rate for the first year. Finally, assume an average tax rate of 25 percent Required: 1. Determine the average room rate for the Lynn Inn. 2. Assume that gift shop department losses total $50,000. How much must the average room rate be modified to cover this loss? 3. Assume (independent of # 2) that the Lynn Inn has singles, doubles, and suites. Fur- ther, the relationship between sales and prices are as follows: 434 Chapter 8 Sales Mix Price 30% ?? Singles Doubles $10 premium over singles rate 125% of doubles rate 50 20 Suites 100% Determine the average room rate for suites and doubles.

Question: Engineering Economy, Please Solve It For A And B. Please Solve Them Right And Correct! For A, Year 1,2,3,4

A company purchases an industrial laser for $176,000. The device has a useful life of 4 years and a salvage value (market value) at the end of those four years of $50,000. The before-tax cash flow is estimated to be $95,000 per year. a. You, of course, suggested applying the 3-year MACRS (GDS) method instead of the straight-line method. Given an effective tax rate of 28%, determine the depreciation schedule and the after tax cash flow. b. Based on the MACRS depreciation schedule for this asset, if the industrial laser was sold for $115,000 in year two (consider year two to be the “year 2” row in the table in Part (a), what will be the amount of gain (depreciation recapture) or loss on the disposal of the asset at the end of this year? Click the icon to view the GDS Recovery Rates (r) for the 3-year property class. a. Determine the MACRS depreciation amounts and the after tax cash flow for this laser. Fill in the table below. (Round to the nearest dollar.) Depreciation, $ ATCF, $ EOY -176,000 0 1 ? Enter your answer in the edit fields and then click Check Answer.

Question: Kubin Company’s Relevant Range Of Production Is 18,000 To 22,000 Units. When It Produces And Sells 20,000 Units, Its Average Costs Per Unit Are As Follows: Average Cost Per Unit Direct Materials $ 7.00 Direct Labor $ 4.00 Variable Manufacturing Overhead $ 1.50 Fixed Manufacturing Overhead $ 5.00 Fixed Selling Expense $ 3.50 Fixed Administrative Expense …

(Round per unit values to 2 decimal places.) 1 Variable cost per unit 2. Variable cost per unit 3. Total amount of variable cost 4. Total amount of variable cost 5. Average fixed manufacturing cost per unit 6. Average fixed manufacturing cost per unit 7. Total amount of fixed manufacturing overhead 8. Total amount of fixed manufacturing overhead

Question: Debit Credit Date Item Credit Debit 13,600 Mar. 1 Bal., 6,000 Units, 1/3 Completed 31 Direct Materials, 108,000 Units 183,600 197,200 31 Direct Labor 246,970 49,770 31 Factory Overhead 274,970 28,000 31 Goods Finished, 109,500 Units 264,800 10,170 31 Bal.? Units, 4/5 Completed 10,170 A. Determine The Number Of Units In Work In Process Inventory At March …

Debit Credit Date Item Credit Debit 13,600 Mar. 1 Bal., 6,000 units, 1/3 completed 31 Direct materials, 108,000 units 183,600 197,200 31 Direct labor 246,970 49,770 31 Factory overhead 274,970 28,000 31 Goods finished, 109,500 units 264,800 10,170 31 Bal.? units, 4/5 completed 10,170 a. Determine the number of units in work in process inventory at March 31 units b. Determine the equivalent units of production for direct materials and conversion costs in March. If an amount is zero, enter in “0”. Baking Department Equivalent Units of Production for Direct Materials and Conversion Costs For March Equivalent Units Conversion Whole UnitsEquivalent Units Direct Materials Inventory in process, March 1 Started and completed in March Transferred to finished goods in March Inventory in process, March 31 Total

Question: FILE НОМЕ INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW A A Calibri 11 Paste B IU A Alignment Number Conditional Format As Cell Cells Editing Formatting Table Styles Clipboard Font Styles A1 Fe Lake Athletics Sells Two Distinct Product Lines: Apparel And Equipment. A E Lake Athletics Sells Two Distinct Product Lines: Apparel And Equipment. 1 2 The …

Get college assignment help at uniessay writers FILE НОМЕ INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW A A Calibri 11 Paste B IU A Alignment Number Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Styles A1 fe Lake Athletics sells two distinct product lines: Apparel and Equipment. A E Lake Athletics sells two distinct product lines: Apparel and Equipment. 1 2 The income statement for each product line appears below. 3 LAKE ATHLETICS 5 Income Statement 6 For the Year Ended December 31, 20X1 7 Apparel Equipment 8 Amount Percent Amount Percent 9 Net sales 10 Cost of goods sold 11 Gross profit $3,150,000 $5,550,000 2,720,000 2,830,000 1,400,000 1,750,000 12 Operating expenses 13 Operating income 800,000 875,000 950,000 1,955,000 14 Other income 20,000 10,000 15 Income before tax 970,000 1,965,000 Incama AVAnnrn D41 250 A01 00n FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW Sign VIEW Calibri A 11 A Paste AAlignment Number B IU Conditional Format as Cell Cells Editing Formatting Table Styles Clipboard Font Styles A1 fr Lake Athletics sells two distinct product lines: Apparel and Equipment. A E 13 Operating income 14 Other income 950,000 1,955,000 20,000 970,000 10,000 15 Income before tax 1,965,000 16 Income tax expense 241,250 491,000 17 Net income $728,750 $1,474,750 18 19 Required: 20 1. Use appropriate Excel formulas to perform vertical analysis and complete the “Percent” columns for both product lines above. Express each amount as a percentage of net sales. 22 Note: You should use absolute references in the divisors of all formulas 23 2. Use the Excel IF function and the completed vertical analysis above to answer each of the 21 24 questions below: 25 Which product line has the highest gross profit %? Which product line has the highest net income %? 26 27

Question: The Cutting Department Of Karachi Carpet Company Provides The Following Data For January. Assume That All Materials Are Added At The Beginning Of The Process. Work In Process, January 1, 9,000 Units, 75% Completed $121,725* *Direct Materials (9,000 X $10.6) $95,400 26,325 Conversion (9,000 X 75% X $3.9) $121,725 Materials Added During January From Weaving …

The Cutting Department of Karachi Carpet Company provides the following data for January. Assume that all materials are added at the beginning of the process. Work in process, January 1, 9,000 units, 75% completed $121,725* *Direct materials (9,000 x $10.6) $95,400 26,325 Conversion (9,000 x 75% x $3.9) $121,725 Materials added during January from Weaving Department, 138,800 units $1,485,160 Direct labor for January 245,232 Factory overhead for January 299,728 Goods finished during January (includes goods in process, January 1), 140,400 units Work in process, January 31, 7,400 units, 35% completed a. Prepare a cost of production report for the Cutting Department. If an amount is zero or a blank, enter in “0”. For the cost per equivalent unit computations, round your answers to two decimal places. Karachi Carpet Company Cost of Production Report-Cutting Department For the Month Ended January 31 Unit Information Units charged to production: Inventory in process, January 1 Received from Weaving Department Total units accounted for by the Cutting Department Whole Units Direct Materials Conversion Inventory in process, January 1 Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total units to be assigned ost Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for January in Cutting Department Total equivalent units $ Cost per equivalent unit Costs assigned to production: Direct Materials Total Conversion Inventory in process, January 1 Costs incurred in January Total costs accounted for by the Cutting Department Costs allocated to completed and partially completed units: T ntom. in muan-s 1amumm. 1 bol-s. Inventory in process, January 1 balance To complete inventory in process, January 1 Cost of completed January 1 work in process Started and completed in January Transferred to finished goods in January Inventory in process, January 31 $ Total costs assigned by the Cutting Department . Compute and evaluate the change in cost per equivalent unit for direct materials and conversion from the previous month (December). If quired, round your answers to two deci mal places. Increase or Decrease Amount Change in direct materials cost per equivalent unit hange in conversion cost per equivalent unit

Question: Chapter 6 Homeworks C In 2018, The Westgate C Omepage X Https://newconnect.mheducation.com/flow/connect.html Secure Chapter 6 Homework Saved Help Save

Chapter 6 Homeworks C In 2018, The Westgate C omepage X https://newconnect.mheducation.com/flow/connect.html Secure Chapter 6 Homework Saved Help Save

1-Why study situational approaches to leadership? 2-Describe the House-Mitchell Path-Goal Theory

1-Why study situational approaches to leadership? 2-Describe the House-Mitchell Path-Goal Theory and their view of appropriate leadership styles. 3-What are the potential outcomes of having lower level employees participate in the MBO process? 4-How are Likert’s casual, intervening and end result variables useful in discussing and thinking about effectiveness?

Question: Equivalent Units And Related Costs; Cost Of Production Report; Entries Dover Chemical Company Manufactures Specialty Chemicals By A Series Of Three Processes, All Materials Being Introduced In The Distilling Department. From The Distilling Department, The Materials Pass Through The Reaction And Filling Departments, Emerging As Finished Chemicals. The …

Equivalent Units and Related Costs; Cost of Production Report; Entries Dover Chemical Company manufactures specialty chemicals by a series of three processes, all materials being introduced in the Distilling Department. From the Distilling Department, the materials pass through the Reaction and Filling departments, emerging as finished chemicals. The balance in the account Work in Process-Filling was as follows on January 1: Work in Process-Filling Department (5,300 units, 60% completed): Direct materials (5,300 x $$10.2) $54,060 Conversion (5,300 x 60% x $6.5) 20,670 $74,730 The following costs were charged to Work in Process-Filling during January: Direct materials transferred from Reaction Department: 68,400 units at $9.9 a unit $677,160 Direct labor 229,470 Factory overhead 220,479 During January, 67,800 units of specialty chemicals were completed. Work in Process-Filling Department on January 31 was 5,900 units, 10% completed. Required: 1. Prepare a cost of production report for the Filling Department for January. If an amount is zero, enter “0”. If required, round your cost per equivalent unit answers to two decimal places. Dover Chemical Company Cost of Production Report-Filling Department For the Month Ended January 31 Unit Information Units charged to production: Inventory in process, January 1 Received from Reaction Department Total units accounted for by the Filling Department Units to be assigned costs: Equivalent Units Whole Direct Materials Conversion Units Inventory in process, January 1 Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total units to be assigned costs Cost Information Cost per equivalent unit: Direct Materials Conversion Total costs for January in Filling Department Total equivalent units Cost per equivalent unit Costs assigned to production: Direct Materials Total Conversion Inventory in process, January 1 Costs incurred in January Total costs acCounted for by the Filling Department Costs allocated to completed and partially completed units: Inventory in process, January 1 balance To complete inventory in process, January 1 $ Cost of completed January 1 work in process Started and completed in January Transferred to finished goods in January Inventory in process, January 31 Total costs assigned by the Filling Department 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods. Work in Process-Filling Department (1) Work in Process-Reaction Department Total costs assigned by the Filling Department 2. Journalize the entries for (1) costs transferred from Reaction to Filling and (2) the cost transferred from Filling to Finished Goods Work in Process-Filling Department (1) Work in Process- Reaction Department Finished Goods (2) Work in Process- Fil ling Department 3. Determine the increase or decrease in the cost per equivalent unit from December to January for direct materials and conversion costs. If required, round your answers to two decimal places. Increase or Decrease Amount 4 Change in direct materials cost per equivalent unit Change in conversion cost per equivalent unit dropdown 4. Discuss the uses of the cost of production report and the results of part (3) The cost of production report may be used as the basis for allocating product costs between and The report can also be used to control costs by holding each department head responsible for the units entering production and the costs incurred in the department. Any differences in unit product costs from one month to another, such as those in part (3), can be studied carefully and any significant differences investigated.

Question: Problem 7-5 (algorithmic) Question Help A New Barcode Reading Device Has An Installed Cost Basis Of $24,860 And An Estimated Service Life Of Ten Years. It Will Have A Zero Salvage Value At That Time. The 150% Declining Balance Method Is Used To Depreciate This Asset A. What Will The Depreciation Charge Be In Year Ten? B. What Is The Book Value At The …

Problem 7-5 (algorithmic) Question Help A new barcode reading device has an installed cost basis of $24,860 and an estimated service life of ten years. It will have a zero salvage value at that time. The 150% declining balance method is used to depreciate this asset a. What will the depreciation charge be in year ten? b. What is the book value at the end of vear nine? c. What is the gain (or loss) on the disposal of the device if it is sold for $600 after nine years? a. The depreciation charge in year ten will be $(Round to the nearest dollar.)

Question: Problem 7-9 (algorithmic) Question Help A Global Positioning System (GPS) Receiver Is Purchased For $6,000. The IRS Informs Your Company That The Useful (class) Life Of The System Is Eight Years. The Expected Market (salvage) Value Is $500 At The End Of Year Eight. A. Use The Straight Line Method To Calculate Depreciation In Year Two. B. Use The 200% …

Problem 7-9 (algorithmic) Question Help A global positioning system (GPS) receiver is purchased for $6,000. The IRS informs your company that the useful (class) life of the system is eight years. The expected market (salvage) value is $500 at the end of year eight. a. Use the straight line method to calculate depreciation in year two. b. Use the 200% declining balance method to calculate the cumulative depreciation through year three. c. Use the MACRS method to calculate the cumulative depreciation through year four d. What is the book value of the GPS receiver at the end of year three when straight line depreciation is used? Click the icon to view the summary of the principal features of GDS under MACRS. Click the icon to view the GDS Recovery Rates (r).

Question: Sub Check My Work Mode: This Shows What Is Correct Or Incorrect For The Work You Have Completed So Far. It Does Not Indicate Completion. Return To Question In 2021, The Westgate Construction Company Entered Into A Contract To Construct A Road For Santa Clara County For $10,000,000. The Road Was Completed In 2023. Information Related To The Contract …

Sub Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question In 2021, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2023. Information related to the contract is as follows: 2021 2022 2823 Cost incurred during the year Estimated costs to complete as of year-end Billings during the year Cash collections during the year $2,291,000 5,609,000 2,110,000 1,855,000 $3,555,eee 2,054,00e 3,736,000 3,500,e00 $2,259,400 art 4 of 5 4,154,eee 4,645,eee Westgate recognizes revenue over time according to percentage of completion. pints 4. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years assuming the following costs incurred and costs to complete information. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount. Loss amounts should be indicated with a minus sign.) 2821 2822 2023 $3,255,e0e $2,291,0ee 5,609,000 $3,855,000 3,155,000 Costs incurred during the year Estimated costs to comnplete as of year-end Answer is complete but not entirely correct. 2022 2023 2021 3,710,000 x S 3,390,000 i 2,900,000 S Revenue 135.000a Gross nrofit (Inssi 609 145 00 Mc Graw Next > < Prev of 11 10 Hill

Question: Problem 7-19 (algorithmic) Question Help A Company Purchases An Industrial Laser For $128,000. The Device Has $55,000. The Before-tax Cash Flow Is Estimated To Be $70,000 Per Year. Useful Life Of 4 Years And A Salvage Value (market Value) At The End Of Those Four Years Of A. You, Of Course, Suggested Applying The 3-year MACRS (GDS) Method Instead Of …

Problem 7-19 (algorithmic) Question Help A company purchases an industrial laser for $128,000. The device has $55,000. The before-tax cash flow is estimated to be $70,000 per year. useful life of 4 years and a salvage value (market value) at the end of those four years of a. You, of course, suggested applying the 3-year MACRS (GDS) method instead of the straight-line method. Given an effective tax rate of 29%, determine the depreciation schedule and the after tax cash flow. b. Based on the MACRS depreciation schedule for this asset, if the industrial laser was sold for $70,000 in year two (consider year two to be the “year 2” row in the table in Part (a), what will be the amount of gain (depreciation recapture) or loss on the disposal of the asset at the end of this year? Click the icon to view the GDS Recovery Rates (r) for the 3-year property class. a. Determine the MACRS depreciation amounts and the after tax cash flow for this laser. Fill in the table below. (Round to the nearest dollar.) ΕΟΥ Depreciation, $ ATCF, $ -128,000 0 1

Question: CM Corporation (CMC) Was Founded In 2014 By Eric Conner And Phil Martin. The Company Designs, Installs, And Services Security Systems For High-tech Companies. The Founders, Who Describe Themselves As “entrepreneurial Geeks,” Met In A Computer Lab When They Were Teenagers And Found They Had Common Interests In Working On Security Systems For Critical …

CM Corporation (CMC) was founded in 2014 by Eric Conner and Phil Martin. The company designs, installs, and services security systems for high-tech companies. The founders, who describe themselves as “entrepreneurial geeks,” met in a computer lab when they were teenagers and found they had common interests in working on security systems for critical industries. On January 2, 2019 CMC hired you as an accounting intern to assist the CFO and the entire corporate accounting team. Lately Conner and Martin have been working with “radio frequency identification” (RFID) technology. They have developed a detailed system designed to track inventory items using RFID tags embedded invisibly in products. This technology has numerous applications in multiple industries. Conner and Martin have sold their system to several high-tech companies in the area. These companies have a number of government contracts that require extensive security systems to protect sensitive data from infiltration by terrorists and competitors. To date, CMC’s cash flow from sales and services has adequately funded its operations. CMC anticipates growth potential for its products. As a result, it is planning a new public offering of their common stock at the end of 2019. The accounting department is currently quite small and the CFO has requested additional staff to help keep pace with the company’s fast-paced growth. Therefore, as an accounting intern you can immediately become a valuable member to their corporate accounting team. To familiarize you with the company’s operations, the CFO has provided an unadjusted trial balance from the end of their last fiscal year (2018) on an Excel spreadsheet. Instructions (a) Download the excel file “CASE 1- CMC” which has the unadjusted trial balance with the existing accounts. This file also contains an accounting “system” comprised of a series of linked spreadsheets. The linkages enable the effects of all accounting entries (journal, adjusting, and closing) to flow through the spreadsheets to update the income statement, balance sheet, and retained earnings. You notice that for the fiscal year ended December 31, 2018, the bookkeeper has made most of the routine general journal entries throughout the year, but none of the adjusting or closing entries have been recorded. The following information is provided for adjustments prior to closing the books. The CFO asks you to enter the adjustments into the spreadsheet using the tab labeled “AJE’s

Question: PRINTER VERSION I BACK NEXT Question 12 Labor Data For Making One Gallon Of Finished Product In Bing Company Are As Follows. (1) Price-hourly Wage Rate $15.92, Payroll Taxes $0.54, And Fringe Benefits $1.70. (2) Quantity-actual Production Time 1.60 Hours, Rest Periods And Cleanup 0.28 Hours, And Setup And Downtime 0.24 Hours. Compute The Following. …

PRINTER VERSION I BACK NEXT Question 12 Labor data for making one gallon of finished product in Bing Company are as follows. (1) Price-hourly wage rate $15.92, payroll taxes $0.54, and fringe benefits $1.70. (2) Quantity-actual production time 1.60 hours, rest periods and cleanup 0.28 hours, and setup and downtime 0.24 hours. Compute the following. (Round answers to 2 decimal places, e.g. 1.25.) (a) Standard direct labor rate per hour. $ Standard direct labor hours per gallon. (b) hours Standard labor cost per gallon. (c) $ Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER

The post Question: Question 14 Thunder Corporation, An Amusement Park, Is Considering A Capital Investment In Cost $144,123 And Have An Estimated Useful Life Of 7 Years. It Will Be Sold For $68,000 At That Time. (Amusement Parks Need To Rotate Exhibits To Keep People Interested.) It Is Expected To Increase Net Annual Cash Flows By $21,600. The Company’s Borrowing Rate … appeared first on uniessay writers.

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