Ctivity-Based Costing: Factory Overhead Costs The Total Factory Overhead For Bardot Marine Company Is
ctivity-Based Costing: Factory Overhead Costs The total factory overhead for Bardot Marine Company is budgeted for the year at $930,200, divided into four activities: fabrication, $420,000; assembly, $156,000; setup, $193,200; and inspection, $161,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The activity-base usage quantities for each product by each activity are as follows: Fabrication Assembly Setup Inspection Speedboat 7,000 dlh 19,500 dlh 50 setups 88 inspections Bass boat 21,000 6,500 370 612 28,000 dlh 26,000 dlh 420 setups 700 inspections Each product is budgeted for 6,000 units of production for the year. a. Determine the activity rates for each activity.
Benchmarking is the process of comparing a process in your company with
Benchmarking is the process of comparing a process in your company with a similar process in another company (the benchmarking partner). This is done to draw comparisons between your company and your benchmarking partner. Ideally, the benchmarking partner will be: an industry standard, an industry leader, a competitor or a leader in another industry that uses a similar process.Think of a company that you are familiar with.
Companies go through different phases of the life cycle. Corporate life cycle
Companies go through different phases of the life cycle. Corporate life cycle includes introductory, growth, maturity, and decline phases.
Let’s have a little fun this week, shall we? Pretend for a
Let’s have a little fun this week, shall we? Pretend for a moment that you won $1,000,000 in the state lottery and had a choice between receiving $50,000 a year for 20 years, or receiving a one-time payment immediately for $560,000. After getting over your initial excitement, what payment option would you take and why? In your decision, apply the time-value of money by computing the present and future value of the payments. Show your calculations. Finally, what other factors are important to consider in making your decision?Part 2Assume that you borrowed $500 from a friend and promised to repay the loan in five equal annual installments, starting a year from today. Your friend wants to be reimbursed at an 8% annual interest rate. Explain how you would compute the required annual payment. Show your calculations.
Companies go through different phases of the life cycle. Corporate life cycle
Companies go through different phases of the life cycle. Corporate life cycle includes introductory, growth, maturity, and decline phases.
Hw due in 1 hour Learnsmart on connect
I would like someone to do my learnsmart assignment. Its not hard and its more definitions then calculating. I need it done by tonight. I will give you my Connect username and password.
help in this question which is question 2-24.
I need help in this question which is question 2-24. I have excel formatted worksheet which needs to fillup by following the instruction which is given in word document. It is easy task. Please i need in 3 hours . I am waitingI have also uploaded question 2-24 documents and you only need to look at the instructions and excel worksheet to format it.
Students will complete a research project on a U.S. firm on the
Students will complete a research project on a U.S. firm on the S
Can anyone help me with these problems that i have submitted. The
Can anyone help me with these problems that i have submitted. The screenshots are included.
Can anyone help me with these problems that i have submitted. The
Can anyone help me with these problems that i have submitted. The screenshots are included.
Can anyone help me with these problems that i have submitted. The
Can anyone help me with these problems that i have submitted. The screenshots are included.
Tax Hw chapter 5. Go on blackboard, then press assignments. Need it
Tax Hw chapter 5. Go on blackboard, then press assignments. Need it done by tonight please. I will give you username and password, there are videos on how to do the questions on blackboard also.
Companies go through different phases of the life cycle. Corporate life cycle
Companies go through different phases of the life cycle. Corporate life cycle includes introductory, growth, maturity, and decline phases.
data and utilize them to forecast
you need accounting background need to check and calculate the AEO ratios(ROCE/RNOA etc—which are reformulated ratios in excel)Identify the two companies’ similarities and differencescompare and contrast the ratios before and after reformulationwhat are the main drivers for the company （AEO）compare ROE VS ROCE ROA VS RNOA PM VS NOPM AT VS NOATwhat results tell you about return on operating activities/assets vs financing activities/assetsdiscuss how it will be impacted due to the difference in strategy and structure between AEO VS NIKE
Port Ormond Carpet Company Manufactures Carpets. Fiber Is Placed In Process In The Spinning
Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting Department, where carpet backing is added at the beginning of the process and the process is completed. On January 1, Port Ormond Carpet Company had the following inventories: Finished Goods $8,300 Work in Process-Spinning Department 2,000 Work in Process-Tufting Department 2,600 Materials 4,800 Departmental accounts are maintained for factory overhead, and both have zero balances on January 1. Manufacturing operations for January are summarized as follows: Jan. 1 Materials purchased on account, $82,000 2 Materials requisitioned for use: Fiber-Spinning Department, $42,600 Carpet backing-Tufting Department, $34,700 Indirect materials-Spinning Department, $3,300 Indirect materials-Tufting Department, $2,900 31 Labor used: Direct labor-Spinning Department, $26,300 Direct labor-Tufting Department, $17,200 Indirect labor-Spinning Department, $12,500 Indirect labor-Tufting Department, $11,900 31 Depreciation charged on fixed assets: Spinning Department, $5,300 Tufting Department, $3,100 31 Expired prepaid factory insurance: Spinning Department, $1,000 Tufting Department, $800 31 Applied factory overhead: Spinning Department, $22,400 Tufting Department, $18,250 31 Production costs transferred from Spinning Department to Tufting Department, $90,000 31 Production costs transferred from Tufting Department to Finished Goods, $153,200 31 Cost of goods sold during the period, $158,000 Required: 1. Journalize the entries to record the operations, using the dates provided with the summary of manufacturing operations. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. 2. Compute the January 31 balances of the inventory accounts.* 3. Compute the January 31 balances of the factory overhead accounts.* *Enter your amounts in positive value.
Jim Martin Owns A Men’s Clothing Store In Philadelphia. He Was Recently Offered The
Jim Martin owns a men’s clothing store in Philadelphia. He was recently offered the position of store manager at Anthony’s, a large retail chain store in the area. Working at Anthony’s, Jim would earn an annual salary of $50,000. Jim knows that he could sell the net assets of his business for $115,000, but is uncertain whether to sell the business and manage Anthony’s or continue operating his own store. Jim begins his analysis of the two alternatives by examining his store’s income statement from last year. What should he do? Revenue..$225,000 Cost of goods sold…135,000 Rent…7,200 Employee wages…17,000 Utilities…3,640 Supplies…560 Advertising…1,450 Professional fees…1,150 Insurance…820 Miscellaneous expenses…630
Horizontal Analysis Of Income Statement For 20Y2, Macklin Inc. Reported A Significant Decrease In
Horizontal Analysis of Income Statement For 20Y2, Macklin Inc. reported a significant decrease in net income. At the end of the year, John Mayer, the president, is presented with the following condensed comparative income statement: Macklin Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $867,160 $731,000 Cost of goods sold (634,800) (460,000) Gross profit $232,360 $271,000 Selling expenses $(91,450) $(62,000) Administrative expenses (52,340) (39,000) Total operating expenses $(143,790) $(101,000) Operating income $88,570 $170,000 Other revenue 3,906 3,100 Income before income tax expense $92,476 $173,100 Income tax expense (25,900) (51,900) Net income $66,576 $121,200 Required: 1. Prepare a comparative income statement with horizontal analysis for the two-year period, using 20Y1 as the base year. Use the minus sign to indicate a decrease in the “Increase/(Decrease)” columns. If required, round percentages to one decimal place.
The First Transaction Is For The Import Of Good Quality Wines From France, Since
The first transaction is for the import of good quality wines from France, since a retail liquor trading chain customer in the United States, for who you have been doing imports over the past five years has a very large order this time. The producer in France informed you that the current cost of the wine that you want to import is €2,500,000. The wine in France can be shipped to the United States immediately but you have three months to conduct payment. The second transaction is for the export of 3d printers manufactured in the U.S.A. The country where it will be exported to is Britain. The payment of £2,500,000 for the export to Britain will be received twelve months from now. You consider different transaction hedges, namely forwards, options and money market hedges. You are provided with the following quotes from your bank, which is an international bank with branches in all the countries: Forward rates: Currencies Spot 3 month (90 days) 6 month (180 days) 9 month (270 days) 12 month (360 days) $/£ 1.30009 1.30611 1.31217 1.31825 1.32436 $/€ 1.14134 1.14743 1.15354 1.15969 1.16587 Bank applies 360 day-count convention to all currencies (for this assignment apply 360 days in all calculations). Annual borrowing and investment rates for your company: Country 3 month rates 6 months rates 9 month rates 12 month rates Borrow Invest Borrow Invest Borrow Invest Borrow Invest United States 2.687% 2.554% 2.713% 2.580% 2.740% 2.607% 2.766% 2.633% Britain 0.786% 0.747% 0.794% 0.755% 0.801% 0.762% 0.809% 0.770% Europe 0.505% 0.480% 0.510% 0.485% 0.515% 0.490% 0.520% 0.495% Bank applies 360 day-count convention to all currencies. Explanation – e.g. 3 month borrowing rate on $ = 2.687%. This is the annual borrowing rate for 3 months. If you only borrow for 3 months the interest rate is actually 2.687%/4 = 0.67175% (always round to 5 decimals when you do calculations). Furthermore, note that these are the rates at which your company borrows and invests. The rates are not borrowing and investment rates from a bank perspective. Option prices: Currencies 3 month options 6 month options Call option Put option Call option Put option Strike Premium in $ Strike Premium in $ Strike Premium in $ Strike Premium in $ $/£ $1.29962 $0.00383 $1.31268 $0.00383 $1.30564 $0.00381 $1.31876 $0.00381 $/€ $1.14400 $0.00174 $1.15088 $0.00174 $1.15009 $0.00173 $1.15702 $0.00152 Bank applies 360 day-count convention to all currencies. (Students also have to apply 360 days in all calculations). Option premium calculations should include time value calculations based on US $ annual borrowing interest rates for applicable time periods e.g. 3 month $ option premium is subject to 2.687%/4 interest rate.) a. Calculate the cost of money market hedges for the imports from France (Complete Table 3 on the separate answer sheet) Table 3: France import cost with money market hedge: (8 marks) PV of foreign currency to be invested Converted at spot to $ and to be borrowed $ amount to be repaid after period Exchange rate locked in with transaction Show answers in this row: Show your workings in the columns below the answers
WoolCorp Buys Sheep’s Wool From Farmers. The Company Began Operations In January Of This
WoolCorp buys sheep’s wool from farmers. The company began operations in January of this year, and is making decisions on product offerings, pricing, and vendors. The company is also examining its method of assigning overhead to products. You’ve just been hired as a production manager at WoolCorp. Currently WoolCorp makes two products: (1) raw, clean wool to be used as stuffing or insulation and (2) wool yarn for use in the textile industry. The company would like you to evaluate its costing methods for its raw wool and wool yarn. Single Plantwide Rate WoolCorp is currently using the single plantwide factory overhead rate method, which uses a predetermined overhead rate based on an estimated allocation base such as direct labor hours or machine hours. The rate is computed as follows: Single Plantwide Factory Overhead Rate = (Total Budgeted Factory Overhead) ÷ (Total Budgeted Plantwide Allocation Base) WoolCorp has been using combing machine hours as its allocation base. The company would like to consider activity-based costing. In order to understand their current system better, you evaluate WoolCorp’s current method of costing for raw wool and wool yarn. The production staff has compiled the following information for you on the production of 500 pounds of either raw wool or wool yarn: Factory Overhead Type Budgeted Factory Overhead Sorting $25,600 Cleaning 38,400 Combing 1,300 Raw Wool Wool Yarn Hours of combing machine use required 80 20 In the following table, use combing machine hours as the allocation base for assigning overhead costs to each product. When required, round your answers to the nearest dollar.
1) What Elements Must Exist To Determine Whether To Record A “transaction”? 2) How
1) What elements must exist to determine whether to record a “transaction”? 2) How do purchases affect the Accounting Equation? 3) Is the Accounting Equation affected differently if the purchase if for cash or “on account”? 4) What types of “accounts” are listed under the categories of Assets, Liabilities, and Owners Equity? 5) What happens when “Assets” are used up in terms of the Accounting Equation?
Healthy Dairy Is One Of The Few Remaining Dairy Farms In Singapore That Still
Healthy Dairy is one of the few remaining dairy farms in Singapore that still supplies fresh milk for sale to customers through direct farm purchase, home delivery or selected store outlets in Singapore. Milk is obtained from the cattle under sanitary conditions and stored into the dairy’s bulk tank. The milk is then subjected to the pasteurizing process and once completed, the pasteurized milk is bottled into standard 500ml bottles and transferred to the finished goods store for deliveries to customers. Milk is issued at the beginning of the pasteurizing process. The other pasteurizing costs are incurred evenly throughout that process. Similarly, bottles are added at the beginning of the bottling process while other costs are incurred evenly. Overhead is applied into the pasteurizing and the bottling, at a rate of 80% and 50% of direct labour cost respectively. It is considered normal for some of the milk to be “lost” due to evaporation during pasteurizing and some bottles of milk to be rejected during bottling. Quality control inspection is applied at the end of the bottling process to determine whether completed products are safe for consumption. Bottles of milk which are deemed unsafe are rejected and considered as spoilt. It is accepted that spoilage is normal if rejected bottles of milk are no more than 3% of the completed good bottles produced. The loss due to evaporation is assumed to take place at the end of the pasteurizing process. The cost of lost milk is written off as a loss of the period in which it occurs. This cost is measured at the cost of the milk plus the costs of the pasteurizing process, but no bottling cost is charged. Healthy Dairy uses FIFO system of costing. The following data summarize the firm’s activities during September: Opening WIP Milk $100,000 Direct labour cost (pasteurizing) to 31 Aug $20,000 Milk (40% pasteurized) 125,000 litres Costs incurred during September Milk $224,000 Bottles $48,000 Direct labour cost (pasteurizing) $110,000 Direct labour cost (bottling) $96,000 Production data for September Milk received into pasteurizing 280,000 litres Good bottles completed from bottling 450,000 bottles Spoiled units 30,000 bottles Lost units 5,000 litres None of the opening and closing work in process had at that stage entered the bottling process. The units in the closing work in process were on average 50% complete as to pasteurizing Using the four step approach: (i) Calculate the closing work in process for the pasteurizing process in litres and for the bottling process in bottles.
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