Get college assignment help at uniessay writers Margin of Safety The Spector Company has sales of $250,000, and the break-even point in sales dollars is $165,000. Determine the company’s margin of safety as a percent of current sales High-Low Method for a Service Company Boston Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by Boston Railroad is a measure of railroad operating activity, termed “gross-ton miles,” which is the total number of tons multiplied by the miles moved. $670,600 224,000 747,700 February March 528,400 62,000 – 716,800 195,000 601,200 770,800 Determine the variable cost per gross-ton mille and the fioxed cost Variable cost (Round to two decimal places.) per gross-ton mile Total fixed cost
Exercise 5-17 (Part Level Submission) Kingbird Corporation’s balance sheet at the end of 2016 included the following items. Current assets (Cash $82,000) $236,770 Current liabilities $151,770 Land 32,190Bonds payable 101,770 182,190 Buildings 121,770 Common stock 92,190 Retained earnings 46,190 Equipment $481,920 Accum. depr.-buildings (31,770 Total Accum. depr.-equipment (11,000) 41,770 Patents $481,920 Total The following information is available for 2017. 1. Net income was $60,100 2. Equipment (cost $21,770 and accumulated depreciation $9,770) was sold for $11,770. 3. Depreciation expense was $5,770 on the building and $10,770 on equipment 4. Patent amortization was $2,500 5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,770. 6. An addition to the building was completed at a cost of $28,770 7. A long-term investment (Equity) in stock was purchased for $16,000. 8. Bonds payable of $52,190 were issued. 9. Cash dividends of $30,000 were declared and paid. 10. Treasury stock was purchased at a cost of $11,000 Prepare a statement of cash flows for 2017. (Show amounts that decrease cash flow with either a – sign e.g. -15,000 or in parenthesis e.g. (15,000).) KI N NGBIRD CORPORATIO Statement of Cash Flows Adjustments to reconcile net income to
No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6.
No. Account Titles and Explanation Debit Credit 1. (To close accounts with credit balances) 2. To close accounts with debit balances) 3. (To close net income / (loss)) 4. To close dividends) Click if you would like to Show Work for this question Open Show Work
VAUGHN, M.D. Conversion of Cash Basis to Accrual Basis For the Year 2017
1. An income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) RYAN FINANCIAL PLANNERS Income Statement 2. A retained earnings statement. RYAN FINANCIAL PLANNERS Retained Earnings Statement 3. A balance sheet. (List Assets in order of liquidity. RYAN FINANCIAL PLANNERS Balance Sheet Assets Liabilities and Stockholders’ Equity Click if you would like to Show Work for this question: Open Show Work
Prepare a 2017 retained earnings statement for Teal Corporation. (List items that increase adjusted retained earnings first.) TEAL CORPORATION Retained Earnings Statement
The following forecasts of earnings per share (EPS) and dividends per share (DPS) were made at the end of 2016 for a company with a book value per share of 22,00 euro: 2019 2017 2018 2020 2021 3,90 3,31 3,59 EPS 3,70 3,90 DPS 1,00 1,00 1,00 1,00 1,00 The company has an equity cost of capital of 12 percent per annum. Calculate the residual earnings (residual income) that are forecast each year, 2017 to 2021 What is the per-share value of equity at the end of 2016 based on residual income valuation a. b. model?
Ifiventory and the total cost of units trans- rehensive Exercise; Second Production Department-Weighted-Average Method [LO2, LO3, L04, LO5) Corporatior produces fine papers in three production departments-Pulping, Drying Pulping Department, raw materials such as wood fiber and rag cotton are lly treated to separate their fibers. The result is a thick slurry of fibers.In Seri and F nically and nn the wet fibers transferred from the Pulping Department are U Drying Department, the wet fibers t the t are laid down on excess liquid, and dried in ovens. In the Finishing Departunent., porousner is coated, cut, and spooled onto reels. The co dried papess costing system. Data for March for the Drying Department folow company uses the weighted-average method in its process costin Percent Compléted Units Pulping Conversion Work in process inventory, March 1 . . . . Work in process inventory, March 31 5.000 8.000 . . . . . . . . . 100% 100% 20% 25% Pulping cost in work in process inventory, March 1 Conversion cost in work in process inventory, March 1 Units transferred to the next production department ………….157,000 Pulping cost added during March…… Conversion cost added during March…. $1.00 $4,800 $500 $102,450 No materials are added in the Drying Department. Pulping cost represents the costs of the wet fibers transferred in from the Pulping Department. Wet fiber is processed in the Dry in batches; each unit in the above table is a batch and one batch of wet fibers produces a set amount of dried paper that is passed on to the Finishing Department Required: Determine the equivalent units for March for pulping and conversion Compute the costs per equivalent unit for March for pulping and conversion mine the total cost of ending work in process inventory and the total cost of units trans- ferred to the Finishing Department in March. Prepare a cost reconciliation report for the Drying Department for March. Average Method [L02, L04, LO5
ohnston Enterprises Statement of Cash Flows Adjustments to reconcile net income to
Get college assignment help at uniessay writers Check my work 3 Sachs Brands’ defined benefit pension plan specifies annual retirement benefits equal to: 1.6% × service years x final year’s salary. payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2004 and is expected to retire at the end of 2038 after 35 years’ service. Her retirement is expected to span 18 years. Davenport’s salary is $94,000 at the end of 2018 and the company’s actuary projects her salary to be $300,000 at retirement. The actuary’s discount rate is 8%. EVof$1, PV0f$1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) 2.5 points Required 2. Estimate by the projected benefits approach the amount of Davenport’s annual retirement payments earned as of the end of eBook References2018. ences3. What is the company’s projected benefit obligation at the end of 2018 with respect to Davenport? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) 4. If no estimates are changed in the meantime, what will be the company’s projected benefit obligation at the end of 2021 (three years later) with respect to Davenport? (Do not round intermediate calculations. Round your final answer to nearest whole dollar) 2. Annual retirement payments 3. Projected benefit obligation 2018 4. Projected benefit obligation 2021
ORIOLE CORPORATION Statement of Cash Flows Adjustments to reconcile net income to
SE 9-11 Cost Assignment: Cost Reconciliation-Weighted-Average Method [L02, LO4, LO5) or Micro Products uses the weighted-average method in its process costing system. During the Delta Assembly Department completed its processing of 25,000 units and transferred the next department. The cost of beginning inventory and the costs added during January amounted to $599.780 in total. The ending inventory in January consisted of 3,000 units, which omplete with respect to materials and 60% complete with respect to labor and over- were 80% c head. The costs per equivalent unit for the month were as follows: Materials Labor Overhead $12.50 $6.40 $3.20 Cost per equivalent unit Required . Compute the equivalent units of materials, labor, and overhead in the ending inventory for the month. Compute the cost of ending inventory and of the units transferred to the next department for January 3. 2. Prepare a cost reconciliation for January. (Note: You will not be able to break the cost to be accounted for into the cost of beginning inventory and costs added during the month.)
EXERCISE 6-3 Sales Dollars as an Allocation B Konig Enterprises, Ltd., owns and operates three restaurants in Vancouver, B.C. The company allocates its fixed administrative expenses to the three restaurants on the basis of sales dollars. During 2008, the fixed administrative expenses totaled $2.000,000. These expenses were allo- ase for Fixed Costs [L02] cated as follows: Restaurants Rick’s Imperial Ginger Wok Harborside Garden Total Total sales-2008. . $16,000,000 Percentage of total sales. Allocation (based on the above percentages)… $15,000,000 375% $9,000,000 $40,000,000 40% 22.5% 100% $800,000 $750,000 $450,000 $2,000,000 During 2009, the following year, the Imperial Garden restaurant increased its sales by $10 million. The sales levels in the other two restaurants remained unchanged. The company’s 2009 sales data were as follows: Restaurants Rick’s Harborside Ginger Wok Imperial Garden Total Percentage of total sales.. 100% 50% 18% 32% Paed diministrative expenses remained unchaned at $2.000 Required: ee sales dollars as an allocation base, show the allocation of the fixed administrative expenses among the three restaurants for 2009. your allocation from (I) above to the allocation for 2008. As the manager of the rden restaurant, how would you feel about the amount that has been charged to you for 2009? on the usefulness of sales dollars as an allocation base.
Check my work 3 Dixon Development began operations in December 2018. When lots for industrial development are sold, Dixon recognizes income for financial reporting purposes in the year of the sale. For some lots, Dixon recognizes income for tax purposes when collected. Income recognized for financial reporting purposes in 2018 for lots sold this way was $18 million, which will be collected over the next three years. Scheduled collections for 2019-2021 are as follows: 2 points 2019 6 million 8 million 4 million 2020 eBook 2021 18 million References Pretax accounting income for 2018 was $24 million. The enacted tax rate is 35%. Required: 1. Assuming no differences between accounting income and taxable income other than those described above, prepare the journal entry to record income taxes in 2018. 2. Suppose a new tax law, revising the tax rate from 35% to 30%, beginning in 2020, is enacted in 2019, when pretax accounting income was $20 million. No 2019 lot sales qualified for the special tax treatment. Prepare the appropriate journal entry to record income taxes in 2019 3. If the new tax rate had not been enacted, what would have been the appropriate balance in the deferred tax liability account at the end of 2019? Complete this question by entering your answers in the tabs below
Co. makes funiture. The following data are taken from its production plans for the year Direct labor costs Hazardous waste disposal costs 615 Tables 205,000 units Expected production Direct labor hours units Hazardous waste disposed s waste costs are as plantwide overhead rate based on direct labor hours. OH Cost per Activity OH $ per direct labor hourTotal Overhead Cost Units Product unit Chairs Tables Determine hazardous waste disposal costs per unit for chairs and for tables if costs are assigned based on the of dis of OH Cost per Units OH $ per pound Total Overhead Cost unit Chairs Tables 3. Which method is better for assigning costs to each product? Assignment based on direct labor hours Assignment based on the number of pounds
High-Low Method The manufacturing costs of Ackerman Industries for the first three months of the year follow: Total Costs Units Produced January $182,700 1,575 units 266,130 February 3,060 284,200 5,075 March Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost. Round all answers to the nearest whole dollar. a. Variable cost per unit b. Total fixed cost Contribution Margin Sally Company sells 23,000 units at $42 per unit. Variable costs are $27.30 per unit, and fixed costs are $118,300. Determine (a) the contribution margin ratio, (b) the unit contribution margin, and (c) income from operations. a. Contribution margin ratio (Enter as a whole number.) b. Unit contribution margin (Round to the nearest cent.) per unit c. Income from operations Break-Even Point Nicolas Enterprises sells a product for $120 per unit. The variable cost is $78 per unit, while fixed costs are $580,356 Determine (a) the break-even point in sales units and (b) the break-even point if the selling price were increased to $125 per unit. a. Break-even point in sales units units b. Break-even point if the selling price were increased to $125 per unit units
76 Part 1 Yap, Inc. manufactures an organic insecticide that is marketed and sold via television infomercials. Each “YAP” kit sells for $22, which includes a base price of $20 per “YAP kit plus $2 in shipping and handling fees. Yap’s contribution margin ratio is 60%. In addition, Yap expects to break even if it sells 17,500 “YAP kits per month. Required: a. What is the unit variable cost of a “YAP kit? b. What are Yap’s monthly fixed costs? c. Suppose Yap introduces an offer for “free” shipping and handling. Ho additional “YAP” kits must be sold each month to break even?
Part2 Auto Body specializes in repairing automobiles involved in accidents. Arena has contracts with most insurance providers, enabling Arena to directly bill (and collect from) customers’ insurance companies. Arena estimates that its variable costs equal 30% of billings and that fixed costs equal $14,000 per month. Furthermore, Arena pays income Required: I. What is Arena’s monthly breakeven point in billings (S)? 2. Suppose Arena’s billings for March were $50,000. What is Arena’s profit before t 3. Suppose Arena wants to have profit after taxes of $7,280 per month. What required level of monthly billings?
Part 3 Fahoum, Inc, sells towels for S15 each. The company’s budgeted unit sales for 4 months during 2018 appears below. March 39,000 42,000 44,000 40,000 Fahoum desires to have total towels on hand at the end of each month equal to 15 percent of the following month’s budgeted unit sales. Each towel requires 0.25 yards of fabric. A the end of each month, Fahoum desires to have 20 percent of production material needs required for the next month on hand. The fabric costs $2.60 per yard. Each towel April May June produced requires 0.15 hours of direct labor. REQUIRED a. How many units must be produced in April and in May 2018? b. How many yards of material must be purchased in April to be able to produce required units? How many direct labor hours are needed for April’s production?
. Mark harrywitz proposes to invest shares, X and Y. He expects a return of 12 percent from X and 8 percent from Y. The standard deviation of the return is 8 percent for X and 5 percent for Y. The coefficient between the returns is 0.2. a Compute the expected return and standard deviation of the following portfolios Portfolio Percent in X Percent in Y 50 50 75 25 75 25 h the set of portfolios composed of X and b) Sketc Y. Suppose that Mr. Harrywitz can also borrow or lend at an interest rate of 5 percent. Show on your sketch how this alters his opportunities. Given that he can borrow or lend, what proportions of the common stock portfolio should be invested in X and Y? K,-10%
The post Question: Margin Of Safety The Spector Company Has Sales Of $250,000, And The Break-even Point In Sales Dollars Is $165,000. Determine The Company’s Margin Of Safety As A Percent Of Current Sales High-Low Method For A Service Company Boston Railroad Decided To Use The High-low Method And Operating Data From The Past Six Months To Estimate The Fixed And Variable … appeared first on uniessay writers.