On January 1, 2009, Rand Corp. issued shares of its common stock to acquire all of the
outstanding common stock of Spaulding Inc. Spauldings book value was only $140,000 at the
time, but Rand issued 12,000 share having a par value of $1 per share and a fa
Gruden Company produces golf discs which it normally sells to retailers for
$7.14 each. The cost of manufacturing 19,500 golf discs is:
Howard is the sole shareholder of Queen Corporation, having a basis of
$90,000 in 1,000 shares of Queen common stock. Last year, Queen (E&P of
$500,000) issued a dividend of 2,000 shares of preferred stock to Howard. On
the date of distribution, the fair
SOMEONE PLEASE ANSWER THIS QUESTION CORRECTLY. THE ANSWER BELOW IS
WRONG. I HAVE 2 OF THESE QUESTIONS. SAME QUESTION DIFFERENT NUMBERS.
PLEASE ANSWER BOTH!
Forest Outfitters is a retailer that is preparing its budget for the upcoming fiscal year.
I need detailed help with steps on how to solve, and in the answer please explain how the
fractions or rates are calculated. I am ONLY asking one question here , my dad has cancer
and I am trying to make him proud so please don't report it.
I need detaile
Portsmouth Company makes fine colonial reproduction furniture. Upholstered furniture is one of
its major product lines and the bottleneck on this production line is time in the upholstery shop.
Upholstering is a craft that takes years of experience to mas
The Matsui Lubricants plant uses the FIFO method to account for its work-in-process
inventories. The accounting records show the following information for a particular day:
Beginning WIP inventory
Current period costs
Bill has just returned from a duck hunting trip. He has brought home eight ducks. Bills friend,
John, disapproves of duck hunting, and to discourage Bill from further hunting, John has
presented him with the following cost estimate per duck:
Camper and eq
help with this problem please
The following information relates to the Jimmy Johnson Company.
December 31, 2011
(End-of-Year Prices) Index
Ehlo Company is a multiproduct firm. Presented below is information concerning one of its
products, the Hawkeye.
Schedule of Expected Cash Collections. Smith distributes silk ties. Create a Master Budget for
the second quarter, April - June 2014. Smith desires a minimum ending cash balance each month
of $11,000. The ties ae sold to retailers for $9 each. Recent and
Variable and Absorption Costing
Whirlpool Corporation had the following abbreviated income statement for a recent year:
Assume that there were $4,024 million fixed manufacturing costs and $930 million fixed selling,
administrative, and other costs for the
Clarks Inc., a shoe retailer, sells boots in different styles. In early November
the company starts selling SunBoots to customers for $70 per pair. When a
customer purchases a pair of SunBoots, Clarks also gives the customer a
30% discount coupon for any
Change in Sales Mix and Contribution Margin
Noise Candy Inc. manufactures two models of noise-canceling headphones: No Noise and Silent
Candy models. The company is operating at less than full capacity. Market research indicates
that 35,700 additional No
During the current year, Don sells a tract of land for $600,000. The property was recived as a gift
from Corina on March 10, 1995, when the propert had a $300,000 FMV. The taxable gift was
$290,000 because the annual exclusion was $10,000 in 1995. Cornina
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Mike Sullivan's cost formula for its materials and supplies is $2,030 per month plus $8 per
vehicle. For the month of March, the company planned for activity of 98 vehicles, but the actual
level of activity
If a firm's forecasted sales are $500,000 and its break-even sales are $300,000,
the margin of safety (in dollars) is:
You will be awarded the points for this quest
Chapter 15: Job Order Costing
Costing system a way to keep track of manufacturing costs
- Direct Materials + Direct Labor + Factory Overhead
- Why? Decision making:
Cost of Goods Sold
- Raw Materials
Each visor requires a total of $4.00 in direct materials that includes an adjustable closure that the
company purchases from a supplier at a cost of $1.50 each. Shadee wants to have 30 closures on
hand on May 1, 20 closures on May 31, and 25 closures on J
University Car Wash built a deluxe car wash across the street from campus. The new machines
cost $258,000 including installation. The company estimates that the equipment will have a
residual value of $28,500. University Car Wash als
Question 10 (1 point)
The Flapjack Corporation had 8,200 actual direct labor hours at an actual rate of $12.40 per hour.
Original production had been budgeted for 1,100 units, but only 1,000 units were actually
produced. Labor standards were 7.6 hours per
On March 1, 2016, Gold Examiner receives $147,000 from a local bank and
promises to deliver 100 units of certified 1-oz. gold bars on a future date. The
contract states that ownership passes to the bank when Gold Examiner
delivers the products to Brinks,
Mapleview Inc.has the following budgeted sales:
40% of the sales are for cash. 60% are on credit. For the credit sales, 50% are collected in the
month of sale, and 50% for the next month. The
Which of the following statements is correct when inventory unit costs are decreasing?
FIFO's cost of goods sold will be the largest among the inventory costing methods.
LIFO's income tax will be the lowest among the inventory costing methods.