WVTU is a television station that has 20 thirty-second advertising slots during its regularly scheduled programming each evening. The station is now selling advertising for the first few days in...

A comparative balance sheet and an income statement for Burgess Company are given below: Burgess also provided the following information: 1. The company sold equipment that had an original cost of $...

Time period used to compute indirect cost rates. Splash Manufacturing produces outdoor wading and slide pools. The company uses a normal-costing system and allocates manufacturing overhead on the...

Contrast the competitive necessity model with the operating necessity model. What are the advantages and disadvantages of each?

Annette Creighton opened Creighton Consulting. She rented a small office and paid a part-time worker to answer the telephone and make deliveries. Her chart of accounts is as follows: Creighton's...

Roche Brothers is considering a capacity expansion of its supermarket. The landowner will build the addition to suit in return for $200000 upon completion and a five- year lease. The increase in rent...

Jupiter Company sells goods on January 1 that have a cost of $500,000 to Danone Inc. for $700,000, with payment due in 1 year. The cash price for these goods is $610,000, with payment due in 30 days....

Daffitar Inc. produces and sells theater set designs and costumes. The company began operations on January 1, 2014. The following transactions relate to securities acquired by Daffitar Inc., which...

Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014. Prepare an income statement, a retained earnings statement,...

Consider PepsiCos advertising throughout its history. Identify as many commonalities as possible across its various ad campaigns. How is this campaign consistent with PepsiCos brand image? This year,...

1. What is the business reason for China Noah's potential currency exposure? Does the company really need to subject itself to substantial exchange rate risk? Is the risk "material" to China Noah? Do...

Roland Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2011 for $10,000,000 and had an estimated useful life of 8 years with no salvage...

As manager of the St. Cloud Theatre Company, you have decided that concession sales will support themselves. The following table provides the information you have been able to put together thus far:...

Kathleen McFadden, vice president of operations at Jackson Manufacturing Company, has just received a request for quote (RFQ) from DeKalb Electric Supply for 400 units per week of a motor armature,...

The following information relates to Sanculi Real Estate Agency. Oct. 1 Alan Sanculi begins business as a real estate agent with a cash investment of $15,000. 2 Hires an administrative assistant. 3...

Bed & Bath, a retailing company, has two departments, Hardware and Linens. The companys most recent monthly contribution format income statement follows: A study indicates that $340,000 of the fixed...

Joint-cost allocation, sales value, physical measure, NRV methods. Instant Foods produces two types of microwavable productsbeef-flavored ramen and shrimp-flavored ramen. The two products share...

Kleckner Company started operations in 2009, and although it has grown steadily, the company reported accumulated operating losses of $450,000 in its first four years in business. In the most recent...

What is unique about Costcos channel management process? What components can other retailers borrow or implement?

Last Chance Company offers legal consulting advice to prison inmates. Last Chance Company prepared the end-of-period spreadsheet at the top of the following page at June 30, 2014, the end of the...

Timmins Company of Emporia, Kansas, spreads herbicides and applies liquid fertilizer for local farmers. On May 31, 2017, the company's Cash account per its general ledger showed a balance of...

Stacy Corporation had income before income taxes for 2012 of $6,300,000. In addition, it suffered an unusual and infrequent pretax loss of $770,000 from a volcano eruption. The corporations tax rate...

The monthly sales for Telco Batteries, Inc., were as follows: Month Sales January............. 20 February ............. 21 March. ............. 15 April.............. 14 May............... 13...

Kohlbeck Corporation, a manufacturer of steel products, began operations on October 1, 2011. The accounting department of Kohlbeck has started the fixed-asset and depreciation schedule presented on...

Income at the architectural firm Spraggins and Yunes for the period February to July was as follows: Use trend- adjusted exponential smoothing to forecast the firms August income. Assume that the...

Edington Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. The calculators sell for $15 and $25, respectively. Because of the intense competition Edington...

Rayya Co. purchases and installs a machine on January 1, 2013, at a total cost of $105,000. Straight-line depreciation is taken each year for four years assuming a seven- year life and no salvage...

Colleen Fernandez, president of Rhino Enterprises, applied for a $175,000 loan from First Federal Bank. The bank requested financial statements from Rhino Enterprises as a basis for granting the...

Lillian Fok is president of Lakefront Manufacturing, a producer of bicycle tires. Fok makes 1,000 tires per day with the following resources: Labor: 400 hours per day @ $12.50 per hour Raw material:...

Wendells Donut Shoppe is investigating the purchase of a new $18,600 donut-making machine. The new machine would permit the company to reduce the amount of part-time help needed, at a cost savings of...

Mike Szabo Company engaged in the following transactions during the month of December: December 2 Made credit sales of $4,000 (accepted accounts receivable). 6 Made cash sales of $2,500. 10 Paid...

Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of...

Allen Products, Inc., wants to do a scenario analysis for the coming year. The pessimistic prediction for sales is $900,000; the most likely amount of sales is $1,125,000; and the optimistic...

1. What was the catalyst for NIBCO to develop a VMI program, and why was it able to respond? 2. Describe what types of transactions are involved in NIBCOs VMI program. 3. What types of benefits have...

Band Box Entertainment (BBE) operates a large store in Atlanta, Georgia. The store has both a movie (DVD) section and a music (CD) section. BBE reports revenues for the movie section separately from...

Union Express has 60 tons of cargo that needs to be shipped from Boston to Dallas. The shipping capacity on each of the routes Union Express planes fly each night is shown in the following table:...

Henry Crouchs law office has traditionally ordered ink refills 60 units at a time. The firm estimates that carrying cost is 40% of the $10 unit cost and that annual demand is about 240 units per...

Yung Corporation sold $2,000,000, 7%, 5-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. Yung Corporation uses the straight-line method to amortize...

Jamison Woodworking uses normal costing and allocates manufacturing overhead to jobs based on a budgeted labor-hour rate and actual direct labor-hours. Under-or overallocated overhead, if immaterial,...

(Multiple-Choice) 1. Which of the following is a characteristic of a corporation? a. No income tax b. Mutual agency c. Limited liability of stockholders d. Both a and b 2. Home Team, Inc., issues...

1. The fundamental difference between cycles and seasonality is the A) Duration of the repeating patterns B) Magnitude of the variation C) Ability to attribute the pattern to a cause D) All of the...

1. Senior Discounts for Movies. Your movie theater charges a single price of $6. The marginal cost of each patron is $1. A recent marketing survey revealed the following information about senior...

Red Hot Chili Peppers Co. had the following activity in its most recent year of operations. (a) Purchase of equipment. (b) Redemption of bonds payable. (c) Sale of building. (d) Depreciation. (e)...

Discuss the ethical issues that caused the downfall of Countrywide Financial. Not too long ago, Countrywide Financial seemed to have everything going for it. Co-founded in part by Angelo Mozilo in...

1. How might population trends affect a professional services organization like PwC? What might it have to do to adapt to these trends? 2. What challenges might PwC face in adapting to a more diverse...

Activity-based budgeting, Balanced Scorecard, and strategy Sippican Corporation (B)12 Refer to Case 5-36, the Sippican Corporation (A) case, which required time-driven ABC analysis. Sippican's senior...

Rework Table 7.4 for horizon years 1, 2, 3, and 10, assuming that investors expect the dividend and the stock price to increase at only 6% a year and that each investor requires the same 12% expected...

Tom Alexander has an opportunity to purchase any of the investments shown in the following table. The purchase price, the amount of the single cash inflow, and its year of receipt are given for each...

Over the past 12 months, Super Toy Mart has experienced a demand variance of 10,000 units and has produced an order variance of 12,000 units. a) What is the bullwhip measure for Super Toy Mart? b) If...

The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2012 and 2013. Late in December 2013, the business purchased a small office building and...

Below is a project WBS with cost apportioned by percents. If the total project cost is estimated to be $600,000, what are the estimated costs for the following deliverables? a. Design? b....

The IRS is concerned with improving the accuracy of tax Information given by its representatives over the telephone. Previous studies involved asking a set of 25 questions of a large number of IRS...

Bulldog Appliances uses the periodic inventory system. Details regarding the inventory of appliances at September 1, 2011, purchases invoices during the next 12 months, and the inventory count at...

Sarah Miracle has her own chain of music stores, Miracle Music. Her stores sell musical instruments, sheet music, and other related items. Music lessons and instrument repair are also offered through...

(Computation of Pension Expense, Amortization of Net Gain or Loss???Corridor Approach, Journal Entries for 3 Years) Hiatt Toothpaste Company initiates a defined-benefit pension plan for its 50...

Suppose that fixed costs for a firm in the automobile industry (start-up costs of factories, capital equipment, and so on) are $5 billion and that variable costs are equal to $17,000 per finished...

Sharp Company manufactures a product for which the following standards have been set: During March, the company purchased direct materials at a cost of $55,650, all of which were used in the...

How should Intuit gauge the results of its research among younger consumers with mobile devices?

Why did Nike fail to address corporate social responsibility earlier? Phil Knight and his University of Oregon track coach Bill Bowerman founded Blue Ribbon Sports, later renamed Nike, in 1964. The...

Tobacco is shipped from North Carolina to a cigarette manufacturer in Cambodia once a year. The reorder point, without safety stock, is 200 kilos. The carrying cost is $15 per kilo per year, and the...

The Rent-A-Dent car rental company allows its customers to pick up a rental car at one location and return it to any of its locations. Currently, two locations (1 and 2) have 16 and 18 surplus cars,...

What are the problems that Wal-Mart has faced, and what has the company done to address them? Wal-Mart Stores, Inc., is an icon of American business. From small-town business to multinational, from...

1. How does Toyotas approach to social responsibility relate to the three concepts of social responsibility described in the text (profit responsibility, stakeholder responsibility, and societal...

On October 1, Little Bobby Corporations stockholders equity is as follows. Common stock, $5 par value ............ $400,000 Paid-in capital in excess of parcommon stock ... 25,000 Retained earnings...

The following selected accounts and their current balances appear in the ledger of Carpet Land Co. for the fiscal year ended October 31, 2012: Instructions 1. Prepare a multiple-step income...

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 430 $1,500. During May,...

ABC Company and XYZ Company are competitors in the manufacturing industry. The following ratios and financial information have been compiled for these two companies for the most recent year: Required...

On June 1, 2012, Andre Company and Agassi Company merged to form Lancaster Inc. A total of 800,000 shares were issued to complete the merger. The new corporation reports on a calendar-year basis. On...

Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided...

Golden Corp., a merchandiser, recently completed its 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3)...

Grace Greenberg, production planner for Science and Technology Labs, in New Jersey, has the master production plan shown below: Period ( weeks) 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 35 40 10...

Gershwin Corporation obtained a franchise from Sonic Hedgehog Inc. for a cash payment of $120,000 on April 1, 2012. The franchise grants Gershwin the right to sell certain products and services for a...

On April 15, Sanborn Company sold merchandise to Barr Company for $3,000 on terms of 2/10, n/30. Assume a return of merchandise on April 20 of $600 and collection in full on April 25. What is the...

Each coffee table produced by Kevin Watson Designers nets the firm a profit of $ 9. Each bookcase yields a $ 12 profit. Watsons firm is small and its resources limited. During any given production...

The Solo Hotel opened for business on May 1, 2014. Here is its trial balance before adjustment on May 31 Other data: 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows...

(Multiple- and Single-step Income, Retained Earnings) The following account balances were included in the trial balance of J.R. Reid Corporation at June 30, 2004. The Retained Earnings account had a...

1. What type of team building best describes these volunteering activities? 2. Explain how the corporate social responsibility element of volunteering contributes to team building. 3. Along with team...

QualSupport Corporation manufactures seats for automobiles, vans, trucks, and various recreational vehicles. The company has a number of plants around the world, including the Denver Cover Plant,...

Belmain Co. expects to maintain the same inventories at the end of 2014 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of...

You are the head of the project selection team at Broken Arrow records. Your team is considering three different recording projects. Based on past history, Broken Arrow expects at least a rate of...

The following cost data for the year just ended pertain to Heartstrings, Inc., a greeting card manufacturer: Service department costs * ............... $ 50,000 Direct labor: wages .....................

Preston & Grover Soap Company manufactures powdered detergent. Phosphate is placed in process in the Making Department, where it is turned into granulars. The output of Making is transferred to the...

Three roommates Tinker, Evers, and Chance share an apartment. It is really cold outside and they are considering turning up the thermostat in the apartment up by 1, 2, 3, or 4 degrees. Their...

On December 1 of the current year, the following accounts and their balances appear in the ledger of Latte Corp., a coffee processor: Preferred 2% Stock, $50 par (250,000 shares authorized, 80,000...

Alexis Company uses 800 units of a product per year on a continuous basis. The product has a fixed cost of $50 per order, and its carrying cost is $2 per unit per year. It takes 5 days to receive a...

Almas Recording Studio rents studio time to musicians in 2-hour blocks. Each session includes the use of the studio facilities, a digital recording of the performance, and a professional music...

The Marlin Company produces plastic bottles to customer order. The quality inspector randomly selects four bottles from the bottle machine and measures the outside diameter of the bottle neck, a...

McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments: the assembly department and the finishing department. This problem...

Capriati Corporation commenced operations in early 2012. The corporation incurred $60,000 of costs such as fees to underwriters, legal fees, state fees, and promotional expenditures during its...

Helix Company produces several products in its factory, including a karate robe. The company uses a standard cost system to assist in the control of costs. According to the standards that have been...

1. Do you think Hal's concerns have merit? 2. How would you present the case that a green design will help the company in the future? 3. Should a company engage in green design if it is not required...

The Ambrosia Bakery makes cakes for freezing and subsequent sale. The bakery, which operates five days a week, 52 weeks a year, can produce cakes at the rate of 116 cakes per day. The bakery sets up...

The following is Sullivan Corp.'s comparative balance sheet accounts at December 31, 2010 and 2009, with a column showing the increase (decrease) from 2009 to 2010. Additional information: 1. On...

Use the information in each of the following separate cases to calculate the unknown amount. a. Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total...

Martinez Corporation engaged in the following cash transactions during 2012. Sale of land and building $191,000 Purchase of treasury stock 40,000 Purchase of land 37,000 Payment of cash dividend...

The cash flow statements for retailing giant BigBox, Inc. spanning the period 20102013 are as follows: Answer the following questions using the information found in these statements: a. Does BigBox...

Jim Carrie Company shows a balance of $181,140 in the Accounts Receivable account on December 31, 2008. The balance consists of the following. Installment accounts due in 2009 ...... $23,000...

a. Create a spreadsheet model for this problem and solve it. What is the optimal solution? b. If Rick wanted to improve this solution, what additional resources would be needed and where would they...

For many years Futura Company has purchased the starters that it installs in its standard line of farm tractors. Due to a reduction in output, the company has idle capacity that could be used to...

Via Gelato is a popular neighborhood gelato shop. The company has provided the following data concerning its operations: While gelato is sold by the cone or cup, the shop measures its activity in...