A company manufactures and sells a single product which has

Question A company manufactures and sells a single product which has the following costand selling price structure.£/Unit £/UnitSelling price 120Direct material 22Direct labour 36Variable overhead 14Fixed overhead 12 84Profit per unit 36The fixed overhead absorption rate is based on the normal capacity of 2,000 unitsper month. Assume that the same amount is spent each month on fixedoverheads.Budgeted sales for next month are 2,200 units.You are required to calculate;(i) The break-even point in sales units per month.(ii) The margin of safety for next month(iii)The budgeted profit for next month(iv)The sales required to achieve a profit of £ 96,000 in a month.

Restaurant Sedap Gila is a catering company that serves food

Question Restaurant Sedap Gila is a catering company that serves food and beverages at parties and business functions. Sedap Gila’s business is seasonal, with a heavy schedule during the summer months and holidays and a lighter schedule at other times.One of the major events Sedap Gila’s customers request is a cocktail party. She offers a standard cocktail party and has estimated the cost per guest as follows: $Food and beverages 16.00Labor (0.5 hour @ $9.80/hr.) 4.90Overhead (0.5 hour @ $18.54/hr.) 9.27Total cost per guest 30.17The standard cocktail party lasts three hours and Sedap Gila hires one worker for every six guests, so that works out to one-half hour of labor per guest. These workers are hired only as needed and are paid only for the hours they actually work.When bidding on cocktail parties, Sedap Gila adds a 14% markup to yield a price of about $32 per guest. She is confident about her estimates of the costs of food and beverages and labor but is not as comfortable with the estimate of overhead cost. The $18.54 overhead cost per labor-hour was determined by dividing total overhead expenses for the last 12 months by total labor-hours for the same period.Monthly data concerning overhead costs and labor hours follow: Sedap Gila has received a request to bid on a 160-guest fund-raising cocktail party to be given next month by an important local charity. (The party would last the usual three hours.) The restaurant would like to win this contract because the guest list for this charity event includes many prominent individuals that she would like to land as future clients. Sedap Gila is confident that these potential customers would be favorably impressed by her company’s services at the charity event.Required:Question 1Prepare a scatter graph plot that puts labor-hours on the X-axis and overhead expenses on the Y-axis.i. On the graph below, use the point tool (January) to plot the labor-hours on the X-axis and overhead expenses on the Y-axis.ii. Repeat the same process for the plotter tools (February to December).iii. To enter exact coordinates, click on the point and enter the values of x and y.iv. To remove a point from the graph, click on the point and select delete option.Question 2 (a)Use High and Low method to estimate the fixed and variable components of overhead expenses. (Round the Variable cost to 2 decimal places, and Fixed Cost to the nearest dollar.)Question 3Estimate the contribution to profit of a standard 160-guest cocktail party if Sedap Gila charges it’s usual price of $32 per guest. (In other words, by how much would her overall profit increase?) (Round your intermediate calculations and final answer to 2 decimal places.)Question 4How low could Sedap Gila bid for the charity event in terms of a price per guest and still not lose money on the event itself? (Round your answer to the nearest dollar.) Question 5The individual who is organizing the charity’s fund-raising event has indicated that he has already received a bid under $31 from another catering company. Do you think Sedap Gila should bid below her normal $32 per guest price for the charity event? Why?  ATTACHMENT PREVIEW Download attachment Screenshot_20190711-124039_Word.jpg

the following data was available for the green company:selling price:

Question the following data was available for the green company:selling price: 35unit variable expenses: 45000fixed expenses: 45000actual sales: 18000 units what was the margin of safety in units?a)20000b)15000c)2000d)18000

Issued the following bonds. Work out in Excel showing answers

Question Issued the following bonds. Work out in Excel showing answers in detail. alt=”qa_attachment_1562820231689.jpg” /> ATTACHMENT PREVIEW Download attachment qa_attachment_1562820231689.jpg $4,000,000 8%, NC, due December 31st, 2022 Semi-annual pay: July 1st and January 1st Issue Date: January 1st, 2019 Additional Information: 4 YRS . Tony Stark Corporation has a December 31st year-end Tony Stark Corporation uses the straight-line method to amortize any . discount or premium on outstanding debt Because of poor marketing efforts by the deal underwriter, no bonds were sold until February 1st, 2019, at that time the entire issue was sold Instructions For each of the following environments/markets provide the answers to 1), 2), 3) and 4) 6% environment/market . 8% environment/market . 10% environment/market 1) Provide the pricing at issue 2) What was the dollar amount of the bond discount at issue? 3) What was the dollar amount of the bond premium at issue? 4) What was the JE made by Tony Stark Corporation on the issue date? Use this chart for your answers: Price @ $ Discount $ Premium JE made on @ Issue @ Issue @ Issue Issue Date 6% 8% 10%

Please assist with this question. Work out in detail in

Question Please assist with this question. Work out in detail in Excel. Show all work. alt=”qa_attachment_1562820442131.jpg” /> ATTACHMENT PREVIEW Download attachment qa_attachment_1562820442131.jpg #9 On June 30, 2018, Keyser Soze Corporation sold $3,000,000 (face value) of bonds. The bonds are dated June 30, 2018, pay interest semiannually on December 31 and June 30, and will mature on June 30, 2021. The following schedule was prepared by the accountant for 2018. Semi-Annual Interest to Interest Bond Interest Period Unamortized be Paid Expense Amortization Amount Carrying Value $75,000 $2,925,000 $120,000 $131,625 $11,625 63,375 1,936,625 nstructions On the basis of the above information, answer the following questions. (Round your answer to the nearest dollar or percent.) What is the stated interest rate for this bond issue? What is the market interest rate for this bond issue? What was the selling price of the bonds as a percentage of the face value? Prepare the journal entry to record the sale of the bond issue on June 30, 2018. Prepare the journal entry to record the payment of interest and amortization on December 31, 2018.

Tamaras hand-made vodka company had the following results during the

Question Tamaras hand-made vodka company had the following results during the most recent year from performances: sales 600000, Residual income 2000, investments turnover 4 and a required rate of return of 17%.what was the return on sales?a) 4.58%b) 4.65%c) 5.89%d) 0.40%

Please assist with this question. Statement of cash flows. Work

Question Please assist with this question. Statement of cash flows. Work out in detailed in Excel and show all work. src=”/qa/attachment/8345865/” alt=”qa_attachment_1562820720702.jpg” /> ATTACHMENT PREVIEW Download attachment qa_attachment_1562820720702.jpg Comparative Balance Sheet 2018 2017 Cash Assets Accounts receivable (net) $ 46,000 $ 31,000 Prepaid insurance 70,000 60,000 Land 25,000 17,000 Equipment 18,000 40,000 Accumulated depreciation 70,000 60,000 Total Assets (20,000) (13,000) $209,000 $195,000 Accounts payable Liabilities and Stockholders’ Equity Bonds payable $ 11,000 $ 6,000 27,000 19,000 Common stock 140,000 115,000 Retained earnings 31,000 55,000 Total liabilities and stockholders’ equity $209,000 $195,000 Additional information: 1. Net loss for 2018 is $10,000. 2./ Cash dividends of $14,000 were declared and paid in 2018. 3., kand was sold for cash at a loss of $4,000. This was the only land transaction during the year. 4. Equipment with a cost of $15,000 and accumulated depreciation of $10,000 was sold for $5,000 cash. 5. $22,000 of bonds were retired during the year at carrying (book) value. 6. Equipment was acquired for common stock. The fair market value of the stock at the time of the exchange was $25,000. Instructions Prepare a statement of cash flows for the year ended 2018, using the indirect method. SHOW ALL YOUR WORKRead more

Edwards company plans to discontinue a department that has a

Question Edwards company plans to discontinue a department that has a contribution margin of 25,000 and 48,000 in fixed costs. Of the fixed costs, $21,000 cannot be eliminated. The effect of this discontinuance on edwards net operating income would be an:a) increase of 25,000 b)increase of 2000c) decrease of 2000d) decrease of 23000

Georges golden goblet shop had the following activity for December:Total

Question Georges golden goblet shop had the following activity for December:Total goblets sold: 21,000total revenues: 735,000total fixed costs: 250,000total variable costs: 441,000What was georges margin of safety in dollars?a) 357,000b)625,000c) 44,000d) 110,000

The separate condensed balance sheets of Patrick Corporation and its

Question The separate condensed balance sheets of Patrick Corporation and its wholly owned subsidiary, Sean Corporation, are as follows:BALANCE SHEETS December 31, 2017   Patrick   Sean Cash $ 74,000     $ 72,000   Accounts receivable (net)   146,000       38,000   Inventories   82,000       44,000   Plant and equipment (net)   640,000       262,000   Investment in Sean   476,000       –   Total assets $ 1,418,000     $ 416,000   Accounts payable   160,000       94,000   Long-term debt   120,000       38,000   Common stock ($10 par)   332,000       54,000   Additional paid-in capital           14,000   Retained earnings   806,000       216,000   Total liabilities and shareholders’ equity $ 1,418,000     $ 416,000    Additional Information:On December 31, 2017, Patrick acquired 100 percent of Sean’s voting stock in exchange for $476,000.At the acquisition date, the fair values of Sean’s assets and liabilities equaled their carrying amounts, respectively, except that the fair value of certain items in Sean’s inventory were $16,000 more than their carrying amounts. In the December 31, 2017, consolidated balance sheet of Patrick and its subsidiary, what amount of total assets should be reported?Multiple Choice

Sycamore corporation has provided the following cost data for the

Question Sycamore corporation has provided the following cost data for the last year when 100000 units were produced and sold:raw materials 200000direct labormanufacturing overhead: 200,000selling and administrative expense: 150,000All costs are variable except for 100,000 of manufacturing overhead and 100000 of selling and administrative expense. There are no beggining or ending inventories. if the selling price is 10 per unit the net operating income from producing and selling 110,000 units would be:a)560,000b)385,000c)405,000d)450,000

On July 1, 2016, Killearn Company acquired 148,000 of the

Question On July 1, 2016, Killearn Company acquired 148,000 of the outstanding shares of Shaun Company for $21 per share. This acquisition gave Killearn a 40 percent ownership of Shaun and allowed Killearn to significantly influence the investee’s decisions.   As of July 1, 2016, the investee had assets with a book value of $8 million and liabilities of $1,207,750. At the time, Shaun held equipment appraised at $166,250 above book value; it was considered to have a seven-year remaining life with no salvage value. Shaun also held a copyright with a five-year remaining life on its books that was undervalued by $660,000. Any remaining excess cost was attributable to goodwill. Depreciation and amortization are computed using the straight-line method. Killearn applies the equity method for its investment in Shaun.   Shaun’s policy is to declare and pay a $1 per share cash dividend every April 1 and October 1. Shaun’s income, earned evenly throughout each year, was $647,000 in 2016, $683,600 in 2017, and $743,000 in 2018.   In addition, Killearn sold inventory costing $148,200 to Shaun for $247,000 during 2017. Shaun resold $94,000 of this inventory during 2017 and the remaining $153,000 during 2018.   Determine the equity income to be recognized by Killearn during each of these years.Compute Killearn’s investment in Shaun Company’s balance as of December 31, 2018.  a.Equity income 2016$Equity income 2017Equity income 2018b.Investment in Shaun

The actual selling expenses incurred in March 2020 by Concord

Question The actual selling expenses incurred in March 2020 by Concord Company are as follows.Variable Expenses Fixed ExpensesSales commissions $14,752 Sales salaries $34,900Advertising 10,514 Depreciation 7,100Travel 6,956 Insurance 1,900Delivery 3,558 (a) Prepare a flexible budget performance report for March, assuming that March sales were $173,900. Variable costs and their percentage relationship to sales are sales commissions 8%, advertising 6%, traveling 4%, and delivery 2%. Fixed selling expenses will consist of sales salaries $34,900, Depreciation on delivery equipment $7,100, and insurance on delivery equipment $1,900. (List variable costsbefore fixed costs.) CONCORD COMPANY Selling Expense Flexible Budget Report For the Month Ended March 31, 2020 Budget Actual Difference (Favorable Unfavorable Neither Favorable nor Unfavorable)Sales $ $ $variable Expense Sales commissions Advertising Travel Delivery Total variable expenses Fixed expenses Sales salaries Depreciation Insurance Total fixed expenses Total expenses(b) Prepare a flexible budget performance report, assuming that March sales were $181,400. (List variable costs before fixed costs.) Budget actual Difference Sales $ $ Variable expenses $ $ $ Sales commissions Advertising Travel Delivery Total variable expenses Fixed costs Sales salaries Depreciation Insurance Total fixed expenses Total expenses

I just asked a question and the tutor commented that

Question I just asked a question and the tutor commented that my data was not in a right format. Here i have tried to put in a right format. Attachment 1 Attachment 2 Attachment 3 ATTACHMENT PREVIEW Download attachment IMG_5540.jpg A Aa AaBbCcDc AaBbCcDc AaBbC( AaBbCCL A 1 Normal No Spac… Heading 1 Heading 2 Title Subtitle Paragraph Styles D . . 1 . 5 . 1 . . . 6 . . ‘8 . . May 3 Received cash from clients as an advance payment for services to be provided and recorded it as unearned fees, $4,500. 5 Received cash from clients on account, $2,450. 9 Paid cash for a newspaper advertisement, $225. 13 Paid Office Station Co. for part of the debt incurred on April 5, $640. 15 Recorded services provided on account for the period May 1-15, $9, 180. 16 Paid part-time receptionist for two weeks’ salary including the amount owed on April 30, $750. 17 Recorded cash from cash clients for fees earned during the period May 1-16, $8,360. following transactions on Page 6 of the journal: May 20 Purchased supplies on account, $735. I 21 Recorded services provided on account for the period May 16-20, $4,820. 25 Recorded cash from cash clients for fees earned for the period May 17-23, $7,900. 27 Received cash from clients on account, $9,520. 28 Paid part-time receptionist for two weeks’ salary, $750. 30 Paid telephone bill for May, $260. 31 Paid electricity bill for May, $810. 31 Recorded cash from each clients for fees earned for the nerind May 26-31Read more ATTACHMENT PREVIEW Download attachment IMG_5541.jpg References Mailings Review View Help Grammar A A Aa- A – 21 AaBbCcDc AaBbCcDc AaBbCc AaBbCct Aa B Aa BbCc A – Z . A . = $ 2. . 1 Normal No Spac… Heading 1 Heading 2 Title Subtitle Paragraph Styles A 1 . . . 2 5 . 1 . . $7,900. 27 Received cash from clients on account, $9,520. 28 Paid part-time receptionist for two weeks’ salary, $750. 30 Paid telephone bill for May, $260. 31 Paid electricity bill for May, $810. 31 Recorded cash from cash clients for fees earned for the period May 26-31, $3,300. I 31 Recorded services provided on account for the remainder of May, $2,650. 31 Paid dividends, $10,500. Kelly Consulting POST-CLOSING TRIAL BALANCE April 30, 2016 ACCOUNT TITLE DEBIT CREDIT 1 Cash 22, 100.00 2 Accounts Receivable 3,400.00 3 Supplies 1,350.00 4 Prepaid Rent 3,200.00Read more ATTACHMENT PREVIEW Download attachment IMG_5542.jpg Heading 2 I U – abe X2 X A – azz . A. 1 Normal 1 No Spac… Heading 1 Font Paragraph Styles 1 . . 1 . 1 . DD . 2 5 ACCOUNT TITLE DEBIT CREDIT 5 Prepaid Insurance 1,500.00 6 Office Equipment 14,500.00 7 Accumulated Depreciation 330.00 8 Accounts Payable 800.00 9 Salaries Payable 120.00 10 Unearned Fees 2,500.00 11 Common Stock 30,000.00 12 Retained Earnings 12,300.00 13 Totals 46,050.00 46,050.00

Identify two things you learned about how Excel can be

Question Identify two things you learned about how Excel can be used in the budgeting process. Explain how you think those two pieces of information can be used by managers in organizations. 

Ethical DilemmasLet us assume that you are the Vice President

Question Ethical DilemmasLet us assume that you are the Vice President (VP) for global sales in a telecommunications equipment company ‘ABC’. The accounting manager of your company Mr. M recently brought to your attention an unusual charge for a 3 percent commission to a purchasing manager in Russia, Mr. T. Your company has recently started doing business with Mr. T’s company ‘XYZ’ (a state-owned manufacturing company) in Russia. XYZ submitted a bid for a large order of your equipment.Initially the bid brought surprise for you as your company had never been able to get a contract with XYZ for some or the other reasons. But as it turned out, your new sales manager for Russia Mr. O had a relative (Mr. T) in XYZ and they had a deal amongst them. Mr. T promised Mr. O that he would supply him with all of your competitors’ bids if he paid him a 3 percent commission on all of the sales to his company. Furthermore, they both agreed upon the hassle-free release of a 5 percent bank guarantee letter by Mr. T without which ABC would not last in Russia. Your manager accepted this arrangement. He got the competing bids and secured the deal with your company.Now, you have three ethical problems here:give three ethical problems Your company has won a rigged bid.You must pay the person who rigged it, or he will make life miserable for you. what to do with the sales manager Mr. O who accepted this arrangement.The ethical dilemmas in this situation and describe what you would do given the following:If you can refuse to accept the business without any legitimate reasons of company will be blacklisted in Russia and which amounts about is 20 percent of the gross yearly profit.If you accept the business and do not pay the 3 percent commission, the purchasing manager Mr. T will make much trouble when he receives your shipment. No doubt, he will not release the 5 percent bank guarantee letter about the quality and quantity of the material.If you accept the business and pay the 3 percent commission, you feel that it would malign ABC’s reputation and your beliefs.What will be your next course of action, as the VP of ABC? why can you Considering the outcome, and will you reach out to the police/court for this issue? why Is it easier to overlook all of this and continue as if nothing has happened?can you give a rational while telling us which of following will you do in this situation:

5.Hamlet Ltd. adheres to ASPE.On Hamlet Ltd.’s statement of cash

Question 5.Hamlet Ltd. adheres to ASPE.On Hamlet Ltd.’s statement of cash flows (indirect method) for calendar 2014, cash flows from operating activities were reported at $154,000. The statement included the following items: depreciation on plant assets of $60,000; impairment of goodwill of $10,000; and cash dividends paid of $72,000. Based only on the information given above, Hamlet’s net income for 2014 wasA)$ 12,000.B)$ 84,000.C)$154,000.D)$214,000.

Boeing Co is a manufacturing . Describe what Boeing Co

Question Boeing Co is a manufacturing . Describe what Boeing Co does and how they are involved in the manufacturing process.

its an individual project in second year accounting class, and I will

its an individual project in second year accounting class, and I will post all the instructions. please read it carefully, the projec requires you to do research on a Canadian not-for-profit organizations (NPOs) involved in charitable/not-for-Profitctivitiesand comment on how they undertake their Financial Reporting to the public based on rules established by the Canadian Institute of Chartered Accountants (CICA) in comparison to those financial statements pre pared by publicly-traded companies and all sources should come with clear references

750 – 1200 wordsYou have recently hired a new assistant, Susan Thompson,

750 – 1200 wordsYou have recently hired a new assistant, Susan Thompson, who previously worked in a financial accounting office preparing journal entries, which provide you with a recording of the day-to-day activities of the company and financial statements (income statement, statement of owners’ equity balance sheet, and cash flow statement). Although your new assistant has experience with and fully understands financial accounting, she has no experience with managerial accounting.Part 1In a memo to your new assistant, Susan Thompson, complete the following:Part 2In a memo to the board of directors, discuss the information found in each of the following financial statements, and describe how accounting information is used by managers for planning and control:In your own words, please post a response to the Discussion Board and comment on other postings. You will be graded on the quality of your postings.

A company purchased a weaving machine for $332,970. The machine

Question A company purchased a weaving machine for $332,970. The machine has a useful life of 8 years and a residual value of $18,500. It is estimated that the machine could produce 767,000 bolts of woven fabric over its useful life. In the first year, 113,500 bolts were produced. In the second year, production increased to 117,500 units. Using the units-of-production method, what is the amount of depreciation expense that should be recorded for the second year?Multiple Choice

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