The current organization structure of Blue Sky Company, a manufacturer of small sailboats, is presented below. a. What operational problems (for example. inefficiency, errors, fraud) do you think...

ABC, process costing Parker Company produces mathematical and financial calculators and operas at capacity. Data related to the two products are presented here. Total manufacturing overhead costs...

The Sabat Corporation manufactures and sells two products: Thingone and Thingtwo. In July 2013, Sabats budget department gathered the following data to prepare budgets for 2014: 2014 Projected Sales...

Last year, Baldwin Corp paid their workers $26.81 per hour. How much will they be paying them 2 rounds from then? a. $28.29 b. $29.56 c. $28.15 d. $31.04

Kelly Pitney began her consulting business, Kelly consulting P.C., on April 1, 2012. The accounting cycle for Kelly Consulting for April, including financial statements, was illustrated on pages...

The project information for the custom order project of the Air Control Company is presented here. Draw a project network for this project. Compute the early and late activity times and the slack...

1. Drawing on the five forces model, explain why the pharmaceutical industry has historically been a very profitable industry. 2. After 2002, the profitability of the industry, measured by ROIC,...

Martinez Company has decided to introduce a new product. The new product can be manufactured by either a capital-intensive method or a labor-intensive method. The manufacturing method will not affect...

Susan Williams runs a small Flagstaff job shop where garments are made. The job shop employs eight workers. Each worker is paid $ 10 per hour. During the first week of March, each worker worked 45...

Nina Finzelberg started her own consulting firm, Finzelberg Consulting Inc., on May 1, 2014. The following transactions occurred during the month of May. May 1 Stockholders invested $15,000 cash in...

Sanyu Sony started a new business and completed these transactions during December. Dec. 1 Sanyu Sony transferred $65,000 cash from a personal savings account to a checking account in the name of...

A summary of the balance sheet of Travelers Inn Inc. (TII), a company which was formed by merging a number of regional motel chains and which hopes to rival Holiday Inn on the national scene, is...

Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first...

The comparative balance sheet of Wedge Industries Inc. for December 31, 2014 and 2013 is as follows: The following additional information is taken from the records: 1. Land was sold for $100. 2....

Comparing Income with Cash Flow (A Challenging Problem) Huang Trucking Company was organized on January 1, 2011. At the end of the first quarter (three months) of operations, the owner prepared a...

The budget director of Gold Medal Athletic Co., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the...

Rao Technologies, a California- based high- tech manufacturer, is considering outsourcing some of its electronics production. Four firms have responded to its request for bids, and CEO Mohan Rao has...

Condensed financial data of Odgers Inc. follow. Additional information: 1. New plant assets costing $100,000 were purchased for cash during the year. 2. Old plant assets having an original cost of...

The Jimenez Corporation's forecasted 2011 financial statements follow, along with some industry average ratios. a. Calculate Jimenez's 2011 forecasted ratios, compare them with the industry average...

Snookers Restaurant is open from 8:00 am to 10:00 pm daily. Besides the hours that they are open for business, workers are needed an hour before opening and an hour after closing for setup and...

George Hincapie Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the companys...

Given all the changes in the branding strategy for Las Vegas over the years, has the Vegas brand had a consistent meaning to consumers? Is this a benefit or a detriment to the city as it moves...

The following data are taken from the unadjusted trial balance of the Westcott Company at December 31, 2013. Each account carries a normal balance and the accounts are shown here in alphabetical...

In the audit of the Worldwide Wholesale Company, you did extensive ratio and trend analysis. No material exceptions were discovered except for the following: 1. Commission expense as a percent of...

1. As the top managers of their company, what types of issues might Bert and John have to deal with? Be as specific as possible. Which management functions might be most important to them? Why? 2....

(EPS: Simple Capital Structure) On January 1, 2010, Bailey Industries had stock outstanding as follows. 6% Cumulative preferred stock, $100 par value, issued and outstanding 10,000 shares $1,000,000...

Clark Products makes pizza ovens for commercial use. Michael Clark, CEO, is contemplating producing smaller ovens for use in high school and college kitchens. The activities necessary to build an...

The Money Pit Mortgage Company is interested in monitoring the performance of the mortgage process. Fifteen samples of five completed mortgage transactions each were taken during a period when the...

The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers. Also note that the company uses...

Trendy Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at...

1. At this point, what would you do if you were the project manager? 2. Was top management acting correctly in developing an estimate? 3. What estimating techniques should be used for a mission...

1. With respect to the natural resources needed to make wickable shirts, is Patna or Lucknow the preferred location? Why? 2. With respect to transportation considerations, is Patna or Lucknow the...

The planning department of an electronics firm has set up the activities for developing and production of a new MP3 Player. Given the information below, develop a project network using Microsoft...

1. What is your reaction to the situation described in this case? What factors, both inside the company and externally, appear to have contributed to this situation? 2. What appeared to be happening...

Consider the following cost information for a pizzeria: a. What is the pizzerias fixed cost? b. Construct a table in which you calculate the marginal cost per dozen pizzas using the information on...

For each transaction, (1) Analyze the transaction using the accounting equation, (2) Record the transaction in journal entry form, (3) Post the entry using T-accounts to represent ledger accounts....

A production process at Kenneth Day Manufacturing is shown in figure S7.9. The drilling operation occurs separately from, and simultaneously with, the sawing and sanding operations. A product needs...

Vitalite, Inc., produces a number of products, including a body-wrap kit. Standard variable costs relating to a single kit are given below: During August, 500 kits were manufactured and sold....

On July 23 of the current year, Dakota Mining Co. pays $4,715,000 for land estimated to contain 5,125,000 tons of recoverable ore. It installs machinery costing $410,000 that has a 10-year life and...

You are evaluating audit results for assets in the audit of Roberts Manufacturing. You set the preliminary judgment about materiality at $50,000. The account balances, tolerable misstatement, and...

Using Rhodes Corporation's financial statements (shown below), answer the following questions. a. What is the net operating profit after taxes (NOPAT) for 2010? b. What are the amounts of net...

The budget director of Feathered Friends Inc., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the...

Several years ago, Westmont Corporation developed a comprehensive budgeting system for profit planning and control purposes. While departmental supervisors have been happy with the system, the...

Cesar Rego Computers, a Mississippi chain of computer hardware and software retail outlets, supplies both educational and commercial customers with memory and storage devices. It currently faces the...

Big Box Store is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the companys fiscal year on November 30,...

Petty Cash, Bank Reconciliation Bill Jovi is reviewing the cash accounting for Nott leman, Inc., a local mailing service. Jovi?s review will focus on the petty cash account and the bank...

During the first quarter, Francum Company incurs the following direct labor costs: January $40,000, February $30,000, and March $50,000. For each month, prepare the entry to assign overhead to...

1. A factor that causes or leads to a change in a cost or activity is a (n) a. Driver. b. Intercept. c. Slope. d. Variable term. e. Cost object. 2. Which of the following would probably be a variable...

Tribke Enterprises collected the following data from its financial reports for 20X3: Stock price ............. $18.37 Inventory balance .........$300,000 Expenses (excluding OGS) .... $1,120,000...

The production manager at Sunny Soda, Inc., is Interested in tracking the quality of the company% 12-ounce bottle filling line. The bottles must be filled within the tolerances set for this product...

The stockholders?? equity T accounts of Life??s Greeting Cards Inc. for the current fiscal year ended December 31, 2012, are as follows. Prepare a statement of stockholders?? equity for the fiscal...

Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invests $70,000 cash and office equipment valued at...

Wilson Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labor-hours (DLH). Wilson Products...

Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2014 (the end of its fiscal year). Summarized transactions for January 2015 were as follows....

Whiteside Corporation issues $500,000 of 9% bonds, due in 10 years, with interest payable semiannually. At the time of issue, the market rate for such bonds is 10%. Compute the issue price of the...

A company reports the following sales related information: Sales (gross) of $200,000; Sales discounts of $4,000; Sales returns and allowances of $16,000; Sales salaries expense of $10,000. Prepare...

Joey Cuono started his own consulting firm, Cuono Company SpA on June 1, 2017. The trial balance at June 30 is shown below. In addition to those accounts listed on the trial balance, the chart of...

Flight Caf is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The companys planning budget for July appears below: In July, 17,800 meals were...

The ledger of Claudell Company includes the following unadjusted normal balances: Prepaid Rent $1,000, Services Revenue $55,600 and Wages Expense $5,000. Adjusting entries are required for (a)...

Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Worley sets its prices for all hospitals by marking up its...

Consider the following network for conducting a two week (10 working days) computer training class: (a) Construct a schedule showing: ESs for all activities LSs for all activities Slacks for all...

Ayala Corporation accumulates the following data relative to jobs started and finished during the month of June 2014. Overhead is applied on the basis of standard machine hours. Three hours of...

Loren Satina is the sole owner of Clear View Park, a public camping ground near the Lake Mead National Recreation Area. Loren has compiled the following financial information as of December 31, 2017....

What are the pros and cons to BMWs selective target marketing? What has the firm done well over the years and where could it improve?

The following trial balance was extracted from the books of Old NV on 31 December 20X1. Note of information not taken into the trial balance data: (a) Provide for: (i) An audit fee of 38,000. (ii)...

Paula Judge owns Judge Creative Designs. The trial balance of the firm for January 31, 2016, the first month of operations, is shown below. INSTRUCTIONS 1. Complete the worksheet for the month. 2....

Superior Markets, Inc., operates three stores in a large metropolitan area. A segmented absorption costing income statement for the company for the last quarter is given below: The North Store has...

Items 1 through 9 are selected questions of the type generally found in internal control questionnaires used by auditors to obtain an understanding of internal control in the sales and collection...

Variable and fixed costs in the wine industry, decision making A Votre Sant: Product Costing and Decision Analysis in the Wine Industry3 Background A Votre Sant (AVS) is a small, independent winery...

Dempsey Railroad Co. is about to issue $400,000 of 10-year bonds paying an 11% interest rate, with interest payable semiannually. The discount rate for such securities is 10%. How much can Dempsey...

The American Association for Freedom, a political think tank, was recently established. During its rst year of operations it engaged in the following transactions and was affected by the following...

On January 1, 2015, Casey Corporation exchanged $3,300,000 cash for 100 percent of the outstanding voting stock of Kennedy Corporation. Casey plans to maintain Kennedy as a wholly owned subsidiary...

The bank portion of the bank reconciliation for Helene Company at November 30, 2012, was as follows. The adjusted cash balance per bank agreed with the cash balance per books at November 30. The...

The following are Sullivan Corp.'s comparative balance sheet accounts at December 31, 2012 and 2011, with a column showing the increase (decrease) from 2011 to 2012. Additional information:1. On...

The bank portion of the bank reconciliation for Rintala Company at November 30, 2014, was as follows. The adjusted cash balance per bank agreed with the cash balance per books at November 30. The...

Determine Proper Cash Balance Francis Equipment Co. closes its books regularly on December 31, but at the end of 2010 it held its cash book open so that a more favorable balance sheet could be...

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...

Jarden Company has credit sales of $ 3.6 million for year 2013. On December 31, 2013, the companys Allowance for Doubtful Accounts has an unadjusted credit balance of $ 14,500. Jarden prepares a...

The many identical residents of Whoville love drinking Zlurp. Each resident has the following willingness to pay for the tasty refreshment: First bottle.......$5 Second bottle.....4 Third...

Wiset Company completes these transactions during April of the current year (the terms of all its credit sales are 2/10, n/30). Apr. 2 Purchased $ 14,300 of merchandise on credit from Noth Company,...

Solstice Company determines on October 1 that it cannot collect $ 50,000 of its accounts receivable from its customer P. Moore. Apply the direct write-off method to record this loss as of October 1.

The Starr Theater, owned by Meg Vargo, will begin operations in March. The Starr will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of...

Given the following network, determine the first activity to be crashed by the following priority rules: (a) Shortest task first (b) Minimum slack first (c) Most critical followers (d) Mostsuccessors...

1. Should the new system be designed as a Web-based system? Why or why not? What are some specific issues and options that Susan should consider in making a decision? 2. Assume that Cassia Umi,...

Is the relationship between Ciscos own collaborative culture and the products and services it sells something that could work for all companies? Consider this issue for a consumer products company...

Wayward Company wants to prepare interim financial statements for the first quarter. The company wishes to avoid making a physical count of inventory. Waywards gross profit rate averages 34%. The...

Durham Companys trial balance as of January 1, the beginning of the current year, is given below: Durham Company uses a job-order costing system. During the year, the following transactions took...

On July 1, 2017, Major Co. pays $15,120 to Cruz Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Major Co., journalize and post the entry on...

Two athletes of equal ability are competing for a prize of $10,000. Each is deciding whether to take a dangerous performance-enhancing drug. If one athlete takes the drug, and the other does not, the...

A chain of home health care firms in Louisiana needs to locate a central office from which to conduct internal audits and other periodic reviews of its facilities. These facilities are scattered...

The Harvey Motorcycle Company produces three models: the Tiger, a sure-looted dirt bike; the LX2000, a nimble cafe racer: and the Golden, a large interstate tourer. This months master production...

It is time for the annual performance review of Go-Coms account executives. Account values and hours spent each week acquiring and servicing accounts are shown below. Each agent works approximately...

United Airlines flies to more than 200 domestic and international destinations and operates more than 3,300 flights a day. Although the airlines hubs are strategically located in Chicago, Denver, Los...

In February 2009 Treasury 6s of 2026 offered a semiannually compounded yield of 3.5965%. Recognizing that coupons are paid semiannually, calculate the bond's price. Include settlement date, maturity...

1. How should Jennifer go about making her decision? 2. What kind of additional data or information should she collect? 3. What exactly should Jennifer require the others to submit in the way of...

Jeter Co. uses a perpetual inventory system and both an accounts receivable and an accounts payable subsidiary ledger. Balances related to both the general ledger and the subsidiary ledger for Jeter...

The comparative statements of Villa Tool Company are presented below. All sales were on account. The allowance for doubtful accounts was $3,200 on December 31, 2011, and $3,000 on December 31, 2010....

Tyva makes a very popular undyed cloth sandal in one style, but in Regular and Deluxe. The Regular sandals have cloth soles and the Deluxe sandals have cloth-covered wooden soles. Tyva is preparing...

(Pension Expense, Journal Entries, Amortization of Loss) Gottschalk Company sponsors a defined benefit plan for its 100 employees. On January 1, 2010, the companys actuary provided the following...

1. What properties inherent in auto repair services contribute to consumer vulnerability? 2. What types of ethical issues are involved with this case? 3. Describe the consequences of Sears Auto...