Tom Brennan opened Brennan's Cleaning Service on July 1, 2014. During July the following transactions were completed. July 1 Stockholders invested $20,000 cash in the business in exchange for common...

1. Cost out these packages given the data in Exhibits 1 and the information obtained from various insurance carriers and other information sources (Exhibit 4). Exhibit 1: Current compensation costs...

The following cost data relate to the manufacturing activities of Chang Company during the just completed year: The company uses a predetermined overhead rate to apply overhead cost to production....

These financial statement items are for Barfield Corporation at year-end, July 31, 2014. Salaries and wages payable........... $ 2,080 Salaries and wages expense.......... 57,500 Supplies...

A construction company wants to determine the optimal replacement policy for the earth mover it owns. The company has a policy of not keeping an earth mover for more than five years, and has...

The following are the trial balance and the other information related to Yorkis Perez, a consulting engineer. 1. Fees received in advance from clients $6,000. 2. Services performed for clients that...

Toot Auto Supply distributes new and used automobile parts to local dealers throughout the Midwest. Toot's credit terms are n/30. As of the end of business on October 31, the following accounts...

The fixed and variable costs for three potential manufacturing plant sites for a rattan chair weaver are shown: (a) Over what range of production is each location optimal? (b) For a production of 200...

Effect of alternative transfer-pricing methods on division operating income. (CMA, adapted) Ajax Corporation has two divisions. The Mining Division makes toldine, which is then transferred to the...

Jansons Department Store in Stark, Ohio, maintains a successful catalog sales department in which a clerk takes orders by telephone. If the clerk is occupied on one line, incoming phone calls to the...

On July 1, 2010, Jessie Halverson established an interior decorating business, Photogenic Designs. During the month, Jessie Halverson completed the following transactions related to the business:...

Complete the following MRP matrix for Item X. Determine when orders should be released and the size of thoseorders. Item: X Lot Size: Min 50 Gross Requirements Scheduled Receipts Projected on Hand...

Ceda Co. has equipment that cost $80,000 and that has been depreciated $50,000. Instructions Record the disposal under the following assumptions. (a) It was scrapped as having no value. (b) It was...

Mike Derr and Mark Finger form a partnership by combining assets of their separate businesses. The following balance sheet information is provided by Derr from his sole proprietorship. The new...

(Conversion of Bonds) On January 1, 2009, Trillini Corporation issued $3,000,000 of 10-year, 8% convertible debentures at 102. Interest is to be paid semiannually on June 30 and December 31. Each...

What are some of the things IKEA is doing right to reach consumers in different markets? What else could it be doing?

The following information is available for Cole Bowling Alley at December 31, 2014. Prepare a classified statement of financial position; assume that $13,900 of the notes payable will be paid in2015....

Ramiro & Sons buys T-shirts in bulk, applies its own trendsetting silk-screen designs, and then sells the T-shirts to a number of retailers. Ramiro wants to be known for its trendsetting designs, and...

Wonderful Not only did our salespeople do a good job in meeting the sales budget this year, but our production people did a good job in controlling costs as well, said Kim Clark, president of Martell...

Castle Leasing Company signs a lease agreement on January 1, 2014, to lease electronic equipment to Jan Way Company. The term of the noncancelable lease is 2 years, and payments are required at the...

Kozma Companys chart of accounts includes the following selected accounts. 101 Cash ............... 401 Sales Revenue 112 Accounts Receivable ........ 414 Sales Discounts 120 Inventory ................

Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours....

1. Give examples of needs, wants, and demands of Chick-fil-A customers, differentiating these three concepts. 2. Describe Chick-fil-A in terms of the value it provides customers. How does Chick-fil-A...

Gross Profit Method Astaire Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May...

Conrad Air, Inc., reported net income of $1,365,000 for the year ended December 31, 2013. Show how Conrads balance sheet would change from 2012 to 2013 depending on how Conrad spent those earnings as...

Coffee Bean, Inc. (CBI), is a processor and distributor of a variety of blends of coffee. The company buys coffee beans from around the world and roasts, blends, and packages them for resale. CBI...

Wilkins Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing...

Presented below is information related to James Garfield Corp. July 1 James Garfield Corp. sold to Warren Harding Co. merchandise having a sales price of $8,000 with terms 2/10, net/60. Garfield...

J. Wold, project manager of Print Software, Inc., wants you to prepare a project network; compute the early, late, and slack activity times; determine the planned project duration; and identify the...

Brecker Inc., a greeting card company, had the following statements prepared as of December 31, 2014. Additional information: 1. Dividends in the amount of $6,000 were declared and paid during 2014....

1. Which promotional mix elements does Volvo Trucks use? 2. How does the "Live Tests" campaign demonstrate the characteristic of integrated marketing communication? What grade would you give "Live...

Thurgood Devices uses activity-based costing to allocate overhead costs to customer orders for pricing purposes. Many customer orders are won through competitive bidding. Direct material and direct...

Moonbeam Company manufactures toasters. For the first 8 months of 2017, the company reported the following operating results while operating at 75% of plant capacity: Sales (350,000...

On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: A. Jay Crowley transferred cash from a personal bank account to an account...

Munson Performance Auto, Inc., modifies 375 autos per year. The manager, Adam Munson, is interested in obtaining a measure of overall performance. He has asked you to provide him with a multifactor...

Comprehensive variance analysis. Sol Electronics, a fast-growing electronic device producer, uses a standard costing system, with standards set at the beginning of each year. In the second quarter of...

On May 3, 2012, Eisler Company consigned 80 freezers, costing $500 each, to Remmers Company. The cost of shipping the freezers amounted to $840 and was paid by Eisler Company. On December 30, 2012, a...

Sarah Edwards, division manager for Pillows Plus, is speaking to the controller, Diana Rothman, about the budgeting process. Sarah states, Im not an accountant, so can you explain the three main...

Lightfoot Inc., a software development firm, has stock outstanding as follows: 40,000 shares of cumulative preferred 1% stock, $125 par, and 100,000 shares of $150 par common. During its first four...

Suppose Hillard Manufacturing sold an issue of bonds with a 10-year maturity, a $1,000 par value, a 10% coupon rate, and semiannual interest payments. a. Two years after the bonds were issued, the...

Borges Machine Shop, Inc., has a 1- year contract for the production of 200,000 gear housings for a new off- road vehicle. Owner Luis Borges hopes the contract will be extended and the volume...

Lanza Company had the following adjusted trial balance. Instructions (a) Prepare closing entries at June 30, 2014. (b) Prepare a post-closing trialbalance. Lanza Company Adjusted Trial Balance For...

On May 1, Nimbus Flying School, a company that provides flying lessons, was started with an investment of $45,000 cash in the business. Following are the assets and liabilities of the company on May...

The trial balance of Syed Moiz Co. shown below does not balance. Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the...

List some of the demographic trends of interest to marketers in the United States and discuss whether these trends pose opportunities or threats for marketers.

Depletion, Timber, and Extraordinary Loss Conan OBrien Logging and Lumber Company owns 3,000 acres of timberland on the north side of Mount Leno, which was purchased in 1998 at a cost of $550 per...

The trial balance of Nixon Company as of January 31, 2016, after the company completed the first month of operations, is shown in the partial worksheet below. INSTRUCTIONS 1. Record the trial balance...

General Capital Assets. Make all necessary entries in the appropriate governmental hind general journal and the government-wide governmental activities general journal for each of the following...

Topper Sports, Inc., produces high-quality sports equipment. The companys Racket Division manufactures three tennis racketsthe Standard, the Deluxe, and the Prothat are widely used in amateur play....

Use the information contained below to compress one time unit per move using the least cost method. Reduce the schedule until you reach the crash point of the network. For each move identify what...

What two fundamental product strategies do companies choose between when selling their products in the global marketplace?

Hildreth Company uses a job order cost system. The following data summarize the operations related to production for April 2014, the first month of operations: a. Materials purchased on account, $...

Prepare a skeleton statement of revenues, expenditures, and changes in fund balances using the headings in Illustration 2-11 (e.g., Revenues, Expenditures, and Excess (Deficiency) of Revenues over...

On January 4 of this year, Freckles Boutique incurs a $ 105,000 cost to modernize its store. Improvements include new floors, ceilings, wiring, and wall coverings. These improvements are estimated to...

1. Explain why solving the empty container logistics problem contributes to cost savings for CSAV. 2. What are some of the qualitative benefits of the optimization model for the empty container...

Simmons Corporation owns stock of Armstrong, Inc prior to 2010 the investment was accounted for using the equity method. In early 2010, Simmons sold part of its investment in Armstrong, and began...

Assume that your parents wanted to have $160,000 saved for college by your eighteenth birthday and they started saving on your first birthday. They saved the same amount each year on your birthday...

Using the full spectrum of segmentation variables, describe how Starbucks initially segmented and targeted the coffee market. By now, you should be familiar with the Starbucks story. After a trip to...

Construct a cause-and-effect diagram to reflect student dissatisfied with university registration process. Use the four Ms or create your own organizing scheme. Include at least 12 causes.

Preparing an Income Statement and Computing the Gross Profit Percentage and Receivables Turnover Ratio with Discounts, Returns, and Bad Debts Tungsten Company, Inc., sells heavy construction...

An average worker in Brazil can produce an ounce of soybeans in 20 minutes and an ounce of coffee in 60 minutes, while an average worker in Peru can produce an ounce of soybeans in 50 minutes and an...

Beth Corbins regular hourly wage rate is $16, and she receives an hourly rate of $24 for work in excess of 40 hours. During a January pay period, Beth works 45 hours. Beths federal income tax...

On January 3, 2013, Persoff Corporation acquired all of the outstanding voting stock of Sea Cliff, Inc. in exchange for $6,000,000 in cash. Persoff elected to exercise control over Sea Cliff as a...

How can a team of writers ensure that each member shoulders an equal or fair amount of the work on an extensive writing project, such as a formal proposal or report?

Climate-Control, Inc., manufactures a variety of heating and air-conditioning units. The company is currently manufacturing all of its own component parts. An outside supplier has offered to sell a...

Comparative balance sheet accounts of Sharpe Company are presented below. Additional data:1. Equipment that cost $10,000 and was 60% depreciated was sold in 2012.2. Cash dividends were declared and...

Worksheet data for DeSousa Company are presented in E4-2. The owner did not make any additional investments in the business in April. In E4-2, The adjusted trial balance columns of the worksheet for...

Linda Butler is the new division controller of the snack-foods division of Daniel Foods. Daniel Foods has reported a minimum 15% growth in annual earnings for each of the past 5 years. The...

Illinois Furniture, Inc., produces all types of office furniture. The Executive Secretary is a chair that has been designed using ergonomics to provide comfort during long work hours. The chair...

Given the decision tree below for a two-stage (decision) project to enter a joint venture, find the best alternatives (among a1-a6 in the figure) and their expected values. The outcomes shown are...

Tomlinson Corporation is a biotech company based in Milpitas. It makes a cancer-treatment drug in a single processing department. Direct materials are added at the start of the process. Conversion...

Midshipmen Company borrows $15,000 from Falcon Company on July 1, 2015. Midshipmen repays the amount borrowed and pays interest of 12% (1%/month) on June 30, 2016. (1) Record the borrowing for...

Suppose your elasticity of demand for your parking lot spaces is 0.5, and price is $20 per day. If your MC is zero, and your capacity at 9 A.M. is 96%full over the last month, are you optimizing?

1. Columbiana is a small, independent island in the Caribbean that has many historical buildings, forts, and other sites, along with rain forests and striking mountains. A few first- class hotels and...

Keith Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 2 years to overhaul the engine on his vintage used car. While there is some uncertainty about...

Church Company completes these transactions and events during March of the current year (terms for all its credit sales are 2/10, n/30). Mar. 1 Purchased $43,600 of merchandise from Van Industries,...

The common stock of Warner Inc. is currently selling at $110 per share. The directors wish to reduce the share price and increase share volume prior to a new issue the per share par value is $10;...

Many multidivisional firms do not report revenues or profits by division or segment in their Form 10K or Annual Report. What are pros and cons of this management practice? Discuss.

Accounting for manufacturing overhead. Consider the following selected cost data for the Pittsburgh Forging Company for 2008. Budgeted manufacturing overhead costs $7,500,000 Budgeted machine-hours...

Below are comparative balance sheets for the Gilmour Company. Instructions(a) Prepare a comparative balance sheet of Gilmour Company showing the percent each item is of the total assets or total...

Express Distribution markets CDs of the performing artist Fishe. At the beginning of October express had in beginning inventory 2,000 of Fishes CDs with a unit cost of $7. During October, Express...

MKM International is seeking to purchase a new CNC machine in order to reduce costs. Two alternative machines are in consideration. Machine 1 costs $500,000, but yields a 15 percent savings over the...

Absorption versus variable costing Grunewald Company manufacturers a professional grade vacuum cleaner and began operations in 2011. For 2011, Grunewald budgeted to produce and sell 20,000 units. The...

North Dakota Electric Company estimates its demand trend line ( in millions of kilowatt hours) to be: D 5 77 1 0.43Q where Q refers to the sequential quarter number and Q 5 1 for winter of Year 1. In...

1. Which of the following statements regarding aggregate planning is true? A) In a pure level strategy, production rates or work force levels are adjusted to match demand requirements over the...

Decades of overfishing have dramatically reduced the world supply of cod (a type of whitefish). Farm-raised halibut is considered a close substitute for ocean-fished cod. a. On the graph in Figure...

Health Care Systems of Florida (HCSF) is planning to build a number of new emergency-care clinics in central Florida. HCSF management has divided a map of the area into seven regions. They want to...

A manufacturer is considering alternatives for building new plants, to be located closer to three of its primary customers with whom it intends to develop long-term, sole-supplier relationships. The...

Financial information for Powell Panther Corporation is shown here. a. What was net working capital for 2007 and 2008?b. What was the 2008 free cash flow?c. How would you explain the large increase...

(Multiple Choice) 1. A capital expenditure a. records additional capital. b. is a credit like capital (owners equity). c. is expensed immediately. d. adds to an asset. 2. Which of the following items...

Andrews Inc., a greeting card company, had the following statements prepared as of December 31, 2010. Additional information: 1. Dividends in the amount of $6,000 were declared and paid during 2010....

Sams Cat Hotel operates 52 weeks per year, 6 days per week, and uses a continuous review inventory system. It purchases kitty litter for $11.70 per bag. The following information is available about...

Dozier Corporation is a fast-growing supplier of office products. Analysts project the following free cash flows (FCFs) during the next 3 years, after which FCF is expected to grow at a constant 7%...

1. Given the facts of this case, should John have been discharged? Explain. 2. Should the sales representatives of AEM be held to a higher standard of personal conduct than sales representatives for...

Memofax, Inc., produces memory enhancement kits for fax machines. Sales have been very erratic, with some months showing a profit and some months showing a loss. The companys contribution format...

At the end of the prior year, Durney's Outdoor Outfitters reported the following information. Accounts Receivable, Dec. 31 prior year Accounts Receivable (Gross)(A)........................ $48,067...

Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are shown below and on page 86. Jan. 2 Invested $15,000 cash in the business in exchange for common...

A developer of video game software has seven proposals for new games. Unfortunately, the company cannot develop all the proposals because its budget for new projects is limited to $950,000 and it has...

1. Arrow up or down: In Figure, rent control _____ the quantity of apartments, _____ producer surplus, _____ consumer surplus, and _____ the total market surplus. 2. In Figure, rent control prevents...

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: (a) Develop a 3-year moving average to forecast registrations from year 4...