Questions And Answers Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans SnoBoards R Us produces a single product. Variable cost per unit is $25, and fixed costs are $95,000 per year. If the firm sells 5,000 units per year, what price should be charged for each unit to earn $35,000? O $44 $50 $45 O $51 817 viewsDarshita asked July 4, 2017 0 Votes 1 Ans Megamart, a retailer of consumer goods, provides the following information on two of its departments (each considered an investment center). Net Average Investment Center Electronics Sporting goods Sales S 10,700,000 Income Invested Assets 500,500 3,850,000 656,0004,100,000 1-a. Compute return on investment for each department. Return on Investment Choose Numerator: Choose Denominator: | Return on Investment = Return on investment Electronics Sporting Goods 1-b. Using retum on investment, which department is most efficient at using assets to generate returns for the company 2.08K viewsDarshita asked July 4, 2017 0 Votes 1 Ans White Oak introduced additional items for sale in the prior year. White Oak uses a moderate strategy for allowing patrons to return items. White Oak permits retail purchasers to return items within ninety days from the date of sale. Answer the following questions: 1)Detail any issues concerning the audit with this fact pattern. 2)Detail audit steps that can be used to audit the allowance for sales returns 937 viewsDarshita asked July 4, 2017 0 Votes 1 Ans Camp Elim obtains a $125,000, 6%, five-year loan for a new camp bus on January 1, 2018. What amount will be recorded for interest expense for the first payment on January 31, 2018? a. $625 b. $125 c. $7,500 d. $1,000 1.74K viewsDarshita asked July 4, 2017 0 Votes 1 Ans The balance sheet of Sub America reports total assets of $400,000 and $450,000 at the beginning and end of the year, respectively. The return on assets for the year is 10%. What is Sub America’s net income for the year? a. $42,500. b. $45,000. c. $4,250,000. d. $85,000. 978 viewsDarshita asked July 4, 2017 0 Votes 1 Ans The balance sheet of Montezuma reports total assets of $900,000 and $1,100,000 at the beginning and end of the year, respectively. The net income for the year is $100,000. What is Montezuma’s return on assets? a. 10% b. 11% c. 9% d. 25% 1.93K viewsDarshita asked July 4, 2017 0 Votes 1 Ans 1. Prowler reports net income of $250,000. The return on assets for the year is 20%. What is Prowler’s average total assets for the year? a. $1,250,000 b. $1,000,000 c. $1,500,000 d. $250,000 1.63K viewsDarshita asked July 4, 2017 0 Votes 1 Ans Assume that Amazon.com has a stock-option plan for top management. Each stock option represents the right to purchase a share of Amazon $1 par value common stock in the future at a price equal to the fair value of the stock at the date of the grant. Amazon has 6,000 stock options outstanding, which were granted at the beginning of 2017. The following data relate to the option grant. 1.05K viewsAnonymous deleted answer July 2, 2017 0 Votes 1 Ans Rehmer Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.05 direct labor-hours. The direct labor rate is $9.30 per direct labor-hour. The production budget calls for producing 3,600 units in June and 4,100 units in July. Required: Construct the direct labor budget for the next two months, assuming that the direct labor work force is fully adjusted to the total direct labor-hours needed each month. 901 viewsAnonymous deleted answer July 1, 2017 0 Votes 1 Ans On March 1, 2016, Emerson Services issued a 10% long − term notes payable for $21,000. It is payable over a 3 − year term in $7,000 annual principal payments on March 1 of each year plus interest, beginning March 1, 2017. Each yearly installment will include both principal repayment of $7,000 and interest payment for the preceding one − year period. On March 1, 2017, ____. The accounting period ends on December 31. 992 viewsAnonymous deleted answer June 30, 2017 0 Votes 1 Ans Elle Mae Industries has a cash balance of $56,000, accounts payable of $180,000; inventory of $220,000; accounts receivable of $280,000; notes payable of $216,000; and accrued wages and taxes of $46,000. How much net working capital does the firm need to fund? 822 viewsAnonymous deleted answer June 30, 2017 0 Votes 1 Ans Pearl, Inc. produces three products. Data concerning the selling prices and unit costs of the three products appear below: 974 viewsAnonymous deleted answer June 30, 2017 0 Votes 1 Ans The Reed Division reports the following operating data for the past two years: Year 1 Year 2 Margin 16% ? Turnover 2.0 2 Average operating assets ? $225,000 Net operating income $42,000 ? Stockholders’ equity $84,000 $200,000 Sales ? ? 872 viewsDarshita asked June 30, 2017 0 Votes 1 Ans Newman Products is preparing their first quarter production budget. The desired ending inventory of finished goods for the month of January becomes: 772 viewsDarshita asked June 30, 2017 0 Votes 1 Ans Memo Heading (delete this heading in your final paper) To: From: Date: Subject: Introduction (delete this heading in your final paper) In your opening paragraph, very briefly introduce the purpose of your memo. Prior to stating this purpose, state the name of the company, its primary business purpose, and some other general or demographic information about the business. Lastly, inform the reader of the purpose of your memo, which is to request a loan for business expansion. 935 viewsDarshita asked June 30, 2017 0 Votes 1 Ans zto.mheducation.com Ch 08 Ex 8-15 g question | Chegg Exercise 8-15 Direct materials and direct labor variances LO P2 The following information describes production activities of Mercer Manufacturing for the year: Actual direct materials used29,000 bs. at S5.10 per lb Actual direct labor used 8,100 hours for a total of $164,430 Actual units produced 48,000 Budgeted standards for each unit produced are 0.50 pounds of direct material at $5.05 per pound and 10 minutes of direct labor at $22.00 per hour (1) Compute the direct materials price and quantity variances. (Do not round intermediate calculations.) Actual Cost Standard Cost (2) Compute the direct labor rate and efficiency varlances. Indicate whether each variance is favcrable or unfavorable 1.02K viewsDarshita asked June 30, 2017 0 Votes 1 Ans Prepare cost of goods manufactured Statement Manufacturing overhead costs incurred: Indirect materials $ 16,200 Indirect labor 142,000 Property taxes, factory 9,200 Utilities, factory 82,000 Depreciation, factory 169,900 Insurance, factory 11,200 Total actual manufacturing overhead costs incurred $ 430,500 Other costs incurred: Purchases of raw materials (both direct and indirect) $ 412,000 Direct labor cost $ 72,000 Inventories: Raw materials, beginning $ 21,200 Raw materials, ending $ 31,200 Work in process, beginning $ 41,200 Work in process, ending $ 71,200 935 viewsDarshita asked June 29, 2017 0 Votes 1 Ans Russell had been asked by his supervisor to document the purchasing process in his company, but did not specify any particular technique for doing so. If Russell uses Steps for Better Thinking to choose a documentation technique, which of the following statements is most true? 712 viewsDarshita asked June 29, 2017 0 Votes 1 Ans A, B and C have capital of $120,000, $70,000, and $60,000 respectively. The partners share profit and loss in the agreed ratio of 40/30/30. D joins the partnership with $80,000 cash contribution in exchange for 20% interest in capital. The existing assets of the original partnership are undervalued by $40,000. The original partners share balance of profit and loss in proportion to the original percent. 837 viewsDarshita asked June 29, 2017 0 Votes 1 Ans The Bigbee Bottling Company is contemplating the replacement of one of its bottling machines with a newer and more efficient one. The old machine has a book value of $550,000 and a remaining useful life of 5 years. The firm does not expect to realize any return from scrapping the old machine in 5 years, but it can sell it now to another firm in the industry for $265,000. The old machine is being depreciated by $110,000 per year, using the straight-line method. 683 viewsDarshita asked June 29, 2017 « Previous 1 2 … 33 34 35 36 37 … 128 129 Next »
