Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below. Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same. (Round overhead rate to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,275.) Case A Case B Case C Direct materials used (a) $93,400 $65,150 Direct labor 56,000 146,100 (h) Manufacturing overhead applied 44,800 (d) (i) Total manufacturing costs 150,150 (e) 212,750 Work in process 1/1/17 (b) 16,800 18,800 Total cost of work in process 205,900 (f) (j) Work in process 12/31/17 (c) 15,400 (k) Cost of goods manufactured 194,300…Details
ACC10707 Session 2, 2018 Assessment 3 Questions Business Analysis and Interpretation 1. A garden supply company has the following business transaction estimates relating to the third quarter of 2018. $ Credit Sales 160960 Cash Sales 122104 Receipts from Accounts Receivable 97546 Wages 60080 Office Furniture 12109 Prepayments 4722 Administrative Expense 18818 Depreciation on Office Furniture 1454 Depreciation on PPE 35000 Provision for doubtful debts 1454 Receipt of Loan 20000 Credit Purchases 85450 Payments of Accounts Payable 69110 Accrued Wages and other expenses 9854 Prepayments – Other 1597 The cash balance at 1 July 2018 was $106826. Required Prepare a cash budget for the quarter ending 30 September 2018. (15 Marks). Note that 1 mark will be…Details
The Walton Toy Company manufactures a line of dolls and a doll dress sewing kit. Demand for the dolls is increasing, and management requests assistance from you in determining an economical sales and production mix for the coming year. The company has provided the following data: Product Demand Next year (units) Selling Price per Unit Direct Materials Direct Labor Debbie 75,000 $28.00 $5.20 $4.80 Trish 67,000 $ 5.70 $2.10 $1.36 Sarah 60,000 $33.50 $10.19 $7.20 Mike 36,000 $18.00 $4.50 $5.60 Sewing kit 350,000 $ 10.50 $5.70 $0.96 The following additional information is available: The company’s plant has a capacity of 164,990 direct labor-hours per year on a single-shift basis. The company’s present employees and equipment can produce all five…Details
Woodchuck Timber Pty Ltd grows, harvests and processes timber for use in the building industry. The following data relate to the company’s sawmill during June:
|Work in process, 1 June:|
|Costs incurred during June:|
The equivalent units for June were as follows:
a) Calculate the cost per equivalent unit, for both direct material and conversion, during June. Use weighted average process costing.
b) Repeat requirement 1 using the FIFO method.
Lewis Company’s standard labor cost of producing one unit of Product DD is 3.1 hours at the rate of $12.5 per hour. During August, 42,000 hours of labor are incurred at a cost of $12.70 per hour to produce 13,400 units of Product DD.
(A) Compute the total Labor Variance
(B) Compute the labor Price and Quantity Variances
(C) Compute the labor price and quantity variances, assuming the standard is 3.3 hours of direct labor at $12.90 per hour.
QUESTION `1 [6 + 4 + 6 = 16 Marks.] a) This is a two period certainty model problem. Assume that Bradley Lane has a sole income from Fisher Ltd in which he owns 12% of the ordinary share capital. Currently, Bradley has no savings. In August, 2018, Fisher Ltd reported net profits after tax of $800,000 for the last financial year, 2017-18 (1 July, 2017 to 30 June, 2018), and announced it expects net profits after tax for the current financial year, 2018-19, to be 20% higher than last financial year’s figure. The company has a dividend payout ratio of 70%, which it plans to continue, and will pay the annual dividend for 2017-18 in late-September, 2018, and the…
Instructions: You are given the following data below. Calculate in YELLOW
- Calculate mean, variance, standard deviation, covariance, correlation
- Create a chart of the mean and standard deviation of combinations of the portfolios.
- Add the individual asset returns to the chart—are the two portfolios on the efficient frontier?
QUESTION 1 Grace Park has recently graduated with a Masters of Health and Human Services and has decided to set up her own business as a health policy and research consultant. From her past medical experience Grace is confident she can succeed with her business Park Health. Grace has provided the transactions for Park Health for the first quarter ending 3oth June 2018. a) You are required to record the following transactions into the transaction analysis chart (template provided). April 1 Invested $160,000 of her own funds into a business bank account. 2 Purchased a self-contained office space in Richmond for $360,000. Grace paid a 10% deposit and the balance was financed through a mortgage with Gotcha Banking Corporation. 3 Grace…
Project Description: You are an investment banker and you would like to put together a brief statistical report of the most-viewed stock quotes for the day. To complete this task, you will enter stock prices and create a report using the Analysis ToolPak. Instructions: For the purpose of grading the project you are required to perform the following tasks: Step Instructions Points Possible 1 Start Excel. Open exploring_e08_grader_m1_Stocks.xlsx. 0.000 2 Type Symbol in cell B2, type Last Sale Price in cell C2, and type Rank in cell D2. 12.000 3 Enter the following stock information beginning in cell B3: Click cell B3 and type CTIC. Click cell C3 and type 1.92. Click cell B4 and type AAPL. Click cell C4 and type 130.96. Click cell B5 and type C. Click cell C5 and…
ACC5000 Assignment 1 Due: 20th August 2018 Assignment Requirements: Consider the information provided for Legal Eagle Law Services and use Excel to: Record the journal entries for June transactions. Record adjusting entries. Construct the “T” formatted leger accounts. Prepare the profit and loss statement. Prepare the classified narrative formatted balance sheet You must use formula to construct the leger accounts, profit and loss statement, and balance sheet. Legal Eagle Law Services Unadjusted Trial Balance as at 31 May 2019 Debit Credit Cash at bank $11,670 Accounts receivable 32,550 GST receivable 3,900 Prepaid rent 3,150 Prepaid insurance 4,095 Office supplies 6,030 Office equipment 18,300 Accumulated depreciation — office equipment $3,705 Accounts payable 4,200 Unearned fees 1,650 Loan payable…
The year is 2030, and the world has run out of oil. Fortunately, a crop called Extrophia (which can be regrown) has emerged to meet humanity’s needs, as it can be processed into a type of fuel which can run the new breed of Extro-cars and Extro-trains. Kobol Processing Inc began its life 12 years ago when it started purchasing land to rent out to farmers for growing Extrophia. The company has shown a profit in all of its years of existence, and the shareholders simply adore the company’s management. Prior to founding Kobol, its CEO, Shang Tsung, was the founder and CEO of a failed crude oil refining operation. The bankruptcy and the resulting Companies’ Creditors Arrangement Act (CCAA)-driven…
AMC Corporation currently has an enterprise value of $400 million and $100 million in excess cash. The firm has 10 million shares outstanding and no debt. Suppose AMC uses its excess cash to repurchase shares. After the share repurchase, news will come out that will change AMC’s enterprise value to either $600 million or $200 million. What is AMC’s share price prior to the share repurchase? What is AMC’s share price after the repurchase if its enterprise value goes up? What is AMC’s share price after the repurchase if its enterprise value declines? Suppose AMC waits until after the news comes out to do the share repurchase. What is AMC’s share price after the repurchase if its enterprise value goes up?…