Accounting Help

Garden Depot is a retailer that provided the following budgeted cash flows for next year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total cash receipts $ 340,000 $ 460,000 $ 390,000 $ 410,000 Total cash disbursements $ 386,000 $ 356,000 $ 346,000 $ 366,000 The company’s beginning cash balance for next year will be $24,000. The company requires a minimum cash balance of $10,000 and may borrow money at the beginning of any quarter and may repay any part of its loans at the end of any quarter. Interest payments, based on a quarterly interest rate of 3%, are due on any principal at the time it is repaid. For simplicity, assume interest is not compounded. Required: Prepare the company’s cash budget for next year. Note: Repayments, interest, and cash deficiencies should be indicated by a minus sign. #CostAccouting #Accounting #Techniques

The production manager of Rordan Corporation prepared the following quarterly production forecast for next year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 8,800 7,000 7,400 8,300 Each unit requires 0.55 direct labor-hour, and direct laborers are paid $10.00 per hour. Required: 1. Prepare a direct labor budget for next year. #CostAccounting #Accounting #Techniques #AccountingHelp

Silver Company makes a product with peak sales in May of each year. Its sales budget for the second quarter is given below: April May June Total Budgeted sales (all on account) $ 470,000 $ 670,000 $ 230,000 $ 1,370,000 The company estimates 25% of a month’s sales are collected in the month of sale, another 65% are collected in the month following sale, and the remaining 10% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $400,000, and March sales totaled $430,000. Required: Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter. What is the accounts receivable balance on June 30th? #CostAccounting #Accounting #Technique

Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $770. Selected data for the company’s operations last year follow: Units in beginning inventory 0 Units produced 24,000 Units sold 21,000 Units in ending inventory 3,000 Variable costs per unit: Direct materials $ 160 Direct labor $ 430 Variable manufacturing overhead $ 47 Variable selling and administrative $ 23 Fixed costs: Fixed manufacturing overhead $ 800,000 Fixed selling and administrative $ 710,000 Required: Assume the company uses absorption costing. Compute the unit product cost for one gamelan. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. Assume the company uses variable costing. Compute the unit product cost for one gamelan. #CostAccounting #Accounting

Lynch Company manufactures and sells a single product. The following costs were incurred during the company’s first year of operations: Variable costs per unit: Manufacturing: Direct materials $ 12 Direct labor $ 4 Variable manufacturing overhead $ 2 Variable selling and administrative $ 2 Fixed costs per year: Fixed manufacturing overhead $ 370,000 Fixed selling and administrative $ 200,000 During the year, the company produced 37,000 units and sold 18,000 units. The selling price of the company’s product is $55 per unit. Required: Assume the company uses absorption costing: Compute the unit product cost. Prepare an income statement for the year. Assume the company uses variable costing: Compute the unit product cost. Prepare an income statement for the year. #CostAccounting #Accounting #Techniques #AbsorptionCosting

Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and cost information relating to the products follow: Product Weedban Greengrow Selling price per unit $ 9.00 $ 36.00 Variable expenses per unit $ 2.80 $ 13.00 Traceable fixed expenses per year $ 131,000 $ 32,000 Last year the company produced and sold 44,000 units of Weedban and 24,000 units of Greengrow. Its annual common fixed expenses are $98,000. Required: Prepare a contribution format income statement segmented by product lines. #CostAccounting #IncomeStatement #Techniques

Wingate Company, a wholesale distributor of electronic equipment, has been experiencing losses as shown by its most recent monthly contribution format income statement: Sales $ 1,595,000 Variable expenses 635,300 Contribution margin 959,700 Fixed expenses 1,056,000 Net operating income (loss) $ (96,300) In an effort to resolve the problem, the company wants to prepare an income statement segmented by division. Accordingly, the Accounting Department provided the following information: Division East Central West Sales $ 445,000 $ 640,000 $ 510,000 Variable expenses as a percentage of sales 44% 36% 41% Traceable fixed expenses $ 292,000 $ 322,000 $ 207,000 Required: 1. Prepare a contribution format income statement segmented by divisions. 2-a. The Marketing Department believes increasing the West Division's monthly advertising by $27,000 will increase that division's sales by 15%. Assuming these estimates are accurate, how much would the company's net operating income increase (decrease) if the proposal is implemented? 2-b. Would you recommend the increased advertising? #CostAccounting #Accounting #IncomeStatement

Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $290,000, variable expenses of $149,100, and traceable fixed expenses of $69,300. The Alpha Division has sales of $600,000, variable expenses of $331,800, and traceable fixed expenses of $130,300. The total amount of common fixed expenses not traceable to the individual divisions is $131,200. What is the company's net operating income? Multiple Choice $209,500 $78,300 $268,200 $409,100 #CostAccounting #Accounting #NetOperatingIncome

lim (x→0)⁡ (sin2x+2 arctan⁡(3x)+3x^2)/(ln⁡(1+3x+sin^2⁡x )+xe^x ) 0/0→Lô-pi-tan⁡ (L^' Hospital) #CachGiai #ToanCaoCap #ChuongTrinhMoi

FRZ Corporation uses job-order costing. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated production 140,000 Machine-hours required to support estimated production 70,000 Fixed manufacturing overhead cost $ 784,000 Variable manufacturing overhead cost per direct labor-hour $ 2.00 Variable manufacturing overhead cost per machine-hour $ 4.00 During the year, Job 550 was started and completed. The following information pertains to this job: Direct materials $ 175 Direct labor cost $ 225 Direct labor-hours 15 Machine-hours 5 Required: Assume FRZ has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach: Compute the plantwide predetermined overhead rate. Compute the total manufacturing cost of Job 550. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? Assume FRZ’s controller believes that machine-hours is a better allocation base than direct labor-hours. Under this approach: Compute the plantwide predetermined overhead rate. Compute the total manufacturing cost of Job 550. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? Note: Round your intermediate calculations to 2 decimal places. Round your Predetermined Overhead Rate answers to 2 decimal places and all other answers to the nearest whole dollar. #CostAccounting #Accounting #Techniques