x
Info
x
Warning
x
Danger

Accounting Expert Answers & Study Resources : Page 350

The vast field of accounting contributes to one of the largest subjects in our study resources. Accounting flashcards, homework answers for textbooks & other learning aids can increase your competency in this domain instantly. Become a top student with our support. Search Now…

Expert Answers

Ask an Expert

Our Experts can answer your tough homework and study questions.

Answers in as fast as 15 minutes
Post a Question
150245 Resources
0 Students Benefited

101) The Deerfield Company has annual productive capacity of 60,000 units per year.  Budgeted operating results for 2006 are as follows: Revenues (50,000 units @ $10)$500,000 Variable costs: Manufacturing (50,000 @ $3.20)$160,000 Selling (50,000 @ $0.80)    40,000  200,000 Contribution margin$300,000 Fixed costs: Manufacturing100,000 Selling and administrative    80,000  180,000 Operating income$120,000 A wholesaler from another country wants to buy 5,000 units.

Homework Answers
23 Views
  • 101) The Deerfield Company has annual productive capacity of 60,000
  • Accounting
Homework Answers
View Answer

71) The cost of capital for the firm is A) 8%. B) 6%. C) 10%. D) 12%. 72) Using the cost capital as the discount rate, the net present value of the project is A) $89,360. B) $108,480. C) $114,680. D) $228,180. 73) The approximate internal rate of return of the project is A) 8%. B) 12%. C) 12.5%. D) 14%. 74) Miller Manufacturing has.

Homework Answers
24 Views
  • 71) The cost of capital for the firm is A) 8%. B)
  • Accounting
Homework Answers
View Answer

59) The standard cost of direct material for each lamps produced is A) $48.00. B) $40.00. C) $44.00. D) $21.00. 60) The direct-material price variance for October is A) $420 unfavourable. B) $420 favourable. C) $400 favourable. D) $400 unfavourable. 61) The direct-material usage variance for October is A) $220 unfavourable. B) $220 favourable. C) $200 unfavourable. D) $200 favourable. 62) The direct-labour price variance.

Homework Answers
32 Views
  • 59) The standard cost of direct material for each lamps
  • Accounting
Homework Answers
View Answer

51) What is the net present value of the tax savings from depreciation? A) $3,912 B) $23,881 C) $10,235 D) $1,677 52) What is the total net present value of the investment? A) $69,941 B) $24,941 C) $42,000 D) $(33,545) 53) A company is considering the purchase of some equipment that in the second year of operation should cause an.

Homework Answers
20 Views
  • 51) What the net present value of the tax savings
  • Accounting
Homework Answers
View Answer

97) Given the following data: DirectDirect MaterialLabour Standard price per unit of input$15 per foot$15 per hour Actual price per unit of input$17 per foot$14 per hour Standard inputs allowed per unit of output4 feet2 hours Actual units of input1,750 feet850 hours Actual units produced400 units Required: Compute the price, usage and flexible-budget variances for direct material and.

Homework Answers
31 Views
  • 97) Given the following data: DirectDirect MaterialLabour Standard price per unit of
  • Accounting
Homework Answers
View Answer

104) Kline Corporation has prepared the following sales budget: Month   Cash SalesCredit Sales May$ 80,000$340,000 June100,000400,000 July90,000 370,000 August120,000460,000 September110,000380,000 Collections are 40 percent in the month of sale, 45 percent in the month following the sale, and 10 percent two months following the sale. The remaining 5 percent is expected to be uncollectible. Required: Prepare a schedule.

Homework Answers
25 Views
  • 104) Kline Corporation has prepared the following sales budget: Month   Cash
  • Accounting
Homework Answers
View Answer

46) The desired ending inventory for July is A) $39,000. B) $42,250. C) $21,000. D) $31,000. 47) The total purchases budgeted for June should be A) $204,750. B) $164,125. C) $162,500. D) $ 87,500. 48) The total purchases budgeted for July should be A) $169,000. B) $208,000. C) $165,750. D) none of the above. Ogden Manufacturing Company has the following information: Month Budgeted Sales January $190,000 February 212,500 March 230,000 April 197,500 Budgeted Expenses per.

Homework Answers
27 Views
  • 46) The desired ending inventory for July is A) $39,000. B) $42,250. C)
  • Accounting
Homework Answers
View Answer

31) Assume straight-line amortization in all computations, and ignore income taxes. The internal rate of return in case Y is approximately A) 10 percent. B) 12 percent. C) 14 percent. D) 16 percent. Below are two potential investment alternatives: Case X Case Y Initial capital investment $120,000 $180,000 Estimated useful life          3 yrs.           3 yrs. Estimated terminal salvage value           -0-           -0- Estimated annual savings.

Homework Answers
26 Views
  • 31) Assume straight-line amortization in all computations, and ignore income
  • Accounting
Homework Answers
View Answer

106) The Markey Company prepared the following sales budget: Month Budgeted Sales March$250,000 April265,000  May255,000 June272,500 July262,500 In addition, the gross profit rate is 40 percent and the desired inventory level is 30 percent of next month's sales. Required: Prepare a purchases budget for April through June. 107) Bergstrom Corporation prepared the following sales budget:    Month    Budgeted Sales June$136,000 July144,000 August148,000 September152,000 October156,000 The cost.

Homework Answers
28 Views
  • 106) The Markey Company prepared the following sales budget: Month Budgeted
  • Accounting
Homework Answers
View Answer

110) The Malloy Corporation is contemplating the replacement of some old equipment. The pertinent information is as follows: Replacement Old Equipment  Equipment  Original cost$36,000$30,000 Useful life in years106 Current age in years40 Book value$24,000- Disposal value now$17,500- Disposal value in 6 years00 Annual cash operating costs$   9,000$   5,500 Required: Prepare a cost comparison of all relevant items for the.

Homework Answers
28 Views
  • 110) The Malloy Corporation contemplating the replacement of some old
  • Accounting
Homework Answers
View Answer

66) The total cash disbursements in March for the purchase of merchandise should be A) $152,600. B) $145,000. C) $141,360. D) $147,700. 67) The total cash disbursements in May for the purchase of merchandise should be A) $138,400. B) $148,580. C) $ 69,200. D) $128,160. Mickle Company has the following information: Month Budgeted Purchases August $175,000 September 190,000 October 217,500 November 182,500 December 230,000 Purchases are paid for in the following manner: 20.

Homework Answers
27 Views
  • 66) The total cash disbursements in March for the purchase
  • Accounting
Homework Answers
View Answer

102) The Tippett Company manufactures two products, 12-07 and 19-01.  Contribution margin per unit is determined as follows: 12-0719-01 Revenue$25$20 Variable costs1512 Contribution margin$10$  8 Total demand for 12-07 is 5,000 units and for 19-01 is 10,000 units. Direct labour is a scarce resource.  40,000 direct labour hours are available during the year.  Product 12-07 requires.

Homework Answers
46 Views
  • 102) The Tippett Company manufactures two products, 12-07 and 19-01. 
  • Accounting
Homework Answers
View Answer

76) When budgets are formulated with the active participation of all affected employees, the process is called A) financial budgeting. B) mathematical budgeting. C) participative budgeting. D) relative budgeting. 77) Which of the following statements is NOT true? A) Managers often compare actual results with budgets in evaluating subordinates. B) Too often, top management and accountants are.

Homework Answers
31 Views
  • 76) When budgets formulated with the active participation of all
  • Accounting
Homework Answers
View Answer

104) Swenson Company produces a part that is used in the manufacture of one of its products. The costs associated with the production of  10,000 units of this part are as follows: Direct materials$ 100,000 Direct labour170,000 Variable factory overhead300,000 Fixed factory overhead  250,000 $820,000 Of the fixed factory overhead costs, $35,000 is avoidable. Required: a.Assuming there is.

Homework Answers
24 Views
  • 104) Swenson Company produces a part that used in the
  • Accounting
Homework Answers
View Answer

Use the following information to answer the next question(s): The standard cost sheet for one of the Vitton Company's products is presented below. Direct materials (4 feet @ $6.00) $24.00 Direct labour (1 hour @ $12.00) 12.00 Variable overhead (1 hour @ $5.00) 5.00 Fixed overhead (1 hour @ $3.00*) 3.00 Standard unit cost $44.00 *Rate based on expected activity of 12,000.

Homework Answers
30 Views
  • Use the following information to answer the next question(s): The standard
  • Accounting
Homework Answers
View Answer

Beta Company has the following information: Number of Years         5              10               15       Amount of annual cash inflow $8,000 (c) $ 4,200 Required initial investment (a) $100,000 $32,000 Internal rate of return 8 percent 10 percent (e) Minimum desired rate of return 10 percent (d) 8 Percent Net present value (b) $ 5,200 (f) 21) What is (a)? A) $31,944 B) $30,328 C) $11,747 D) $12,882 22) What is (b)? A) $-0- B) $(1,616) C).

Homework Answers
21 Views
  • Beta Company has the following information: Number of Years         5      
  • Accounting
Homework Answers
View Answer

114) The Serena Company is evaluating two mutually exclusive projects with three-year lives.  Each project requires an investment of $10,000.  The projects have the following cash inflows received at the end of each year. YEARPROJECT 1PROJECT 2 1$2,000$  6,000 24,0004,000 36,0002,000 TOTAL$12,000$12,000 a. Determine the net present value of each project using an 8% discount rate. b..

Homework Answers
31 Views
  • 114) The Serena Company evaluating two mutually exclusive projects with
  • Accounting
Homework Answers
View Answer

109) Taylor, Inc. provided the following information:   Month Budgeted Sales June$194,000 July186,000 August172,000 September178,000 Budgeted Expenses per Month: Wages$16,400 Advertising13,600 Amortization8,600 Rent10,200 Freight-out3 percent of sales Other5 percent of sales Note: All cash expenses are paid when incurred. Required: Prepare a combined schedule of total operating expenses and cash disbursements for expensesfor July through September. 110) Johnson Company has gathered the following information: April 30,.

Homework Answers
27 Views
  • 109) Taylor, Inc. provided the following information:   Month Budgeted Sales June$194,000 July186,000 August172,000 September178,000
  • Accounting
Homework Answers
View Answer

111) Chinn Company has gathered the following information: March 31, cash balance, $64,000 Amortization expense for April, $13,400 Dividends paid in April, $23,000 Cash collections in April, $142,000 Equipment purchased for cash in April, $27,200 Cash paid for operating expenses in April, $59,600 Merchandise paid for in April, $84,600 Chinn requires a minimum cash balance of $10,000. Required: Prepare.

Homework Answers
32 Views
  • 111) Chinn Company has gathered the following information: March 31, cash
  • Accounting
Homework Answers
View Answer

106) The annual income statement of ZAP Inc. shows the following items: Sales$800,000 Total expenses (excluding amortization)$560,000 Amortization$160,000 Average income tax rate20 percent Capital Cost Allowance$140,000 Required: Compute the following amounts (ignore present value considerations): a.Net after-tax accounting income b.Total net after-tax cash inflow from operations 107) The owner of a construction company is contemplating possible purchase of new.

Homework Answers
25 Views
  • 106) The annual income statement of ZAP Inc. shows the
  • Accounting
Homework Answers
View Answer

Below are two potential investment alternatives: Case X Case Y Initial capital investment $120,000 $180,000 Estimated useful life          3 yrs.           3 yrs. Estimated terminal salvage value           -0-           -0- Estimated annual savings in cash operating costs $ 50,000 $ 80,000 Minimum desired rate of return 10 percent    12 percent PV of $1 (3 years) PV of an Annuity of $1 (3 years)    8 percent 0.7938 2.5771 10.

Homework Answers
35 Views
  • Below two potential investment alternatives: Case X Case Y
  • Accounting
Homework Answers
View Answer

29) What are the total selling and administrative expenses for 15,000 units? A) $300,000 B) $ 45,000 C) $ 55,000 D) $270,000 30) What is the net income for 10,000 units? A) $90,000 B) $120,000 C) $300,000 D) $270,000 31) What is the net income for 15,000 units? A) $450,000 B) $180,000 C) $405,000 D) $150,000 Woodlund Company had the following information: Selling price per unit $120 Variable.

Homework Answers
31 Views
  • 29) What the total selling and administrative expenses for 15,000
  • Accounting
Homework Answers
View Answer

108) DOCA Corp. is considering the following two capital projects: Machine AMachine B Cost$200,000$150,000 Additional annual revenues$220,000$  80,000 Additional annual cash expenses$140,000$  30,000 Terminal salvage value-0--0- Required after-tax rate of return10%10% Useful life of machine5 yrs.5 yrs. Appropriate tax rate25%25% CCA class9(25%)9(25%) Additional data (for interest rate of 10 percent, 5 periods): Present value of $10.6209 Future value of $11.6105 Present value of annuity.

Homework Answers
26 Views
  • 108) DOCA Corp. considering the following two capital projects: Machine AMachine
  • Accounting
Homework Answers
View Answer

39) What is the cost function? A) Costs = $ 75,000 + $0.098(Lines) B) Costs = $ 75,000 + $0.068(Lines) C) Costs = $245,000 + $0.068(Lines) D) Cannot be determined 40) What would be the total flexible budget if the number of lines increased to 2,600,000? A) $176,800 B) $245,000 C) $251,800 D) Cannot be determined 41) Identify which of.

Homework Answers
26 Views
  • 39) What the cost function? A) Costs = $ 75,000 +
  • Accounting
Homework Answers
View Answer

Can't find what you're looking for ?

Ask our exprts a study questions, on us.
Get free Homework Help*