At December 31, 2013, Dean Co. reported the following information on its balance sheet. Accounts receivable...
A survey of shopping habits found the percentage of respondents that use technology for shopping as shown in Figure 5.37. For example, 17.39% only use online coupons; 21.74% use online coupons and...
The Polaris Company uses a job-order costing system. The following data relate to October, the first month of the companys fiscal year. a. Raw materials purchased on account, $210,000. b. Raw...
The purchasing manager for the Pacific Steel Company must determine a policy for ordering coal to operate 12 converters. Each converter requires exactly 5 tons of coal per day to operate, and the...
Andrew Cha, the founder of Colorscope, Inc., a small, vibrant firm in the graphic arts industry, had seen his business change dramatically over the years. The rapid development of such technologies...
Glaus Leasing Company agrees to lease machinery to Jensen Corporation on January 1, 2010. The following information relates to the lease agreement. 1. The term of the lease is 7 years with no renewal...
The comparative balance sheets of Nike, Inc. are presented here. Instructions(a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2008 as a base.(Show the amount of increase or...
Elysian Fields, Inc., uses a maximum payback period of 6 years and currently must choose between two mutually exclusive projects. Project Hydrogen requires an initial outlay of $25,000; project...
Strategy plans and budgets are unrelated to one another do you agree? Explain.
"The following information is available for Remmers Corporation for 2010. 1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by" $120,000. This...
Bob Farrell, owner of Farrell Motors, is trying to decide whether to buy an insurance policy to cover hail damage on his inventory of more than 200 cars and trucks. Thunderstorms occur frequently,...
Edison Company manufactures wool blankets and accounts for product costs using process costing. The following information is available regarding its May inventories. The following additional...
Your boss at Scott Sampson Products, Inc., has just provided you with the schedule and lead times for the bracket in Problem 14.8. The unit is to be prepared in week 10. The lead times for the...
Zekany Corporation would have had identical income before taxes on both its income tax returns and income statements for the years 2011 through 2014 except for differences in depreciation on an...
Is there a conceptual difference between an error and negligence from a reasonable care perspective? Give examples of each of your response.
The Elixer Drug Company produces a drug from two ingredients. Each ingredient contains the same three antibiotics, in different proportions. One gram of ingredient 1 contributes 3 units, and 1 gram...
Is there a conflict of interests in the way Unilever markets to women and young men? Is it undoing all the good that might be done in the Campaign for Real Beauty by making women sex symbols in Axe...
The manager at Ormonde, Inc. collected the value stream mapping data from the plants most problematic manufacturing cell that fabricates parts for washing machines. This data is shown in Table. Using...
1. What is Googles pay level? How do you define and measure its pay level? 2. Does your answer to the above question depend on what point in time it is answered? For example, what was Googles pay...
Available-for-Sale Securities Entries and Financial Statement Presentation at December 31, 2010, the available-for-sale equity portfolio for Wenger, Inc. is as follows. On January 20, 2011, Wenger,...
Using Microsoft Project, set up the network and determine the critical path for Phase 1 of the project. The project workweek will be 5 days (MF). Given the coming 2010 Winter Olympics in Vancouver...
The Jerico store of Jiffy Mart, a chain of small neighborhood convenience stores, is preparing its activity- based budget for January 2015. Jiffy Mart has three product categories: soft drinks (35%...
Berry Company is an architectural firm located in Detroit, Michigan. The company works with small and medium-size construction businesses to prepare building plans according to client contract. Berry...
Complete the following MRP matrix for itemA: Period 4 578 Item: A Lot Size: Mult 50LT:2 Gross Requirements Scheduled Receipts Projected on Hand 50 Net Requirements Planned Order Receipts Planned...
It is January 2nd. Senior management of Baldwin meets to determine their investment plan for the year. They decide to fully fund a plant and equipment purchase by issuing 50,000 shares of stock plus...
Goose down is used in a wide variety of products, including jackets, bedding, and pillows. In recent years, the cost of down has been increasing. For example, in October 2010, Lands End, a retailer...
Beachfront property owners of the Village of Eden requested a seawall be constructed to protect their beach. The seawall was financed through a note payable, which was to be repaid from taxes raised...
On January 1, 2015, Stoops Entertainment purchases a building for $610,000, paying $110,000 down and borrowing the remaining $500,000, signing a 9%, 15-year mortgage. Installment payments of...
Austen Manufacturing produces self- watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the...
Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Barley Hopp had the following actual results last year: Number of units produced and...
Intel appears to rely heavily on mentoring and long term leadership development from within. What are the pros and cons of such an approach? Intel also seems to have thrived on a pattern of...
Ellix Company manufactures two models of ultra-high fidelity speakers, the X200 model and the X99 model. Data regarding the two products follow: Additional information about the company follows: a....
Recording Adopted Budget. The City of Marion adopted the following General Fund budget for fiscal year 2011: Estimated revenues: Taxes................$3,000,000 Intergovernmental revenues...........
1. What are some problems with Precisions performance appraisal process that might cause challenges for Jackson to implement a merit pay program? 2. What changes do you recommend Precision make to...
Ainsley Corporation has four operating divisions. The budgeted revenues and expenses for each division for 2014 follow: Further analysis of costs reveals the following percentages of variable costs...
The Cooper Furniture Company of Potomac, Maryland, assembles two types of chairs (Recliners and Rockers). Separate assembly lines are used for each type of chair. Required Classify each cost item...
Silver Company makes a product that is very popular as a Mothers Day gift. Thus, peak sales occur in May of each year, ad shown in the companys sales budget for the second quarter given below: From...
Multiple Choice. Choose the best answer. 1. When equipment was purchased with General Fund resources, which of the following accounts would have been debited in the General Fund? a. Expenditures. b....
Gibbs Company purchases sails and produces sailboats. It currently produces 1,200 sailboats per year, operating at normal capacity, which is about 80% of full capacity. Gibbs purchases sails at $250...
Bills Grill is a popular college restaurant that is famous for its hamburgers. The owner of the restaurant, Bill, mixes fresh ground beef and pork with a secret ingredient to make delicious...
On January 1, 2014, Derek Company had Accounts Receivable $139,000, Notes Receivable $30,000, and Allowance for Doubtful Accounts $13,200. The note receivable is from Kaye Noonan Company. It is a...
The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year: The following transactions relating to payroll, payroll deductions, and...
Captain Borders Corp. manufacturers fishing equipment. Currently, the company has a plant in Los Angeles and a plant in New Orleans. William Borders, the firms owner, is deciding where to build a new...
Ellison Inc., a manufacturer of steel school lockers, plans to purchase a new punch press for use in its manufacturing process. After contacting the appropriate vendors, the purchasing department...
During 2014, Copernicus Corporation held a portfolio of available-for-sale securities having a cost of $185,000. There were no purchases or sales of investments during the year. The market values at...
Over the past 5 weeks, demand for wine at Winstons Winery has been 1,000, 2,300, 3,200, 1,750, and 1,200 bottles. Winston has placed weekly orders for glass bottles of 1,100, 2,500, 4,000, 1,000, and...
The following items (in millions) pertain to Chester Corporation: Chesters manufacturing costing system uses a three-part classification of direct materials, direct manufacturing labor, and...
The following data were taken from the financial statements of Ares Inc. for the current fiscal year. Assuming the long-term investments totaled $3,000,000 throughout the year and that total assets...
Kostrivas Company has gathered the following information. Units in beginning work in process ........ _0_ Units started into production .......... 40,000 Units in ending work in process ...........
The general ledger of Zips Storage at January 1, 2018, includes the following account balances: The following is a summary of the transactions for the year: a. January 9 Provide storage services for...
Manufacturing overhead data for the production of Product H by Smart Company are as follows. Overhead incurred for 52,000 actual direct labor hours worked .........$263,000 Overhead rate (variable...
How can a management team justify dealing with a subcontractor based in a country in which human rights are being widely violated?
Gerrad Manufacturing has projected sales of its product for the next six months as follows: January ........ 300 units February ......... 700 units March .........1,000 units April ......... 900...
1. If you were Palmer at the end of the case, how would you respond? 2. What, if anything, could Palmer have done to avoid losing Olds? 3. What advantages and disadvantages of a matrix type...
McBride Company has the following opening account balances in its general and subsidiary ledgers on January 1 and uses the periodic inventory system. All accounts have normal debit and credit...
Molander Corporation is a distributor of a sun umbrella used at resort hotels. Data concerning the next months budget appear below: Required: 1. Compute the companys margin of safety. 2. Compute the...
The following selected transactions were complete by Lawn supplies co., which sells irrigation supplies primarily to wholesalers and occasionally to retail customers: Mar. 1. Sold merchandise on...
The following data refer to one year. Fill in the blanks. Direct material inventory, January 1 . . . . . . . . . . . . . . . . . .a.__________ Direct material inventory, December 31 . . . . . . . . ....
The teenage daughter of a recently deceased movie star inherited a number of items from her famous fathers estate. Rather than convert these assets to cash immediately, her financial advisor has...
Air travel on Mountain Airlines for the past 18 weeks was: a. Explain why an averaging technique would not be appropriate for forecasting. b. Use an appropriate technique to develop a forecast for...
Using Table 6-13, create a pro forma balance sheet using the percentage of sales method. If net income next year is $50,000, answer the following: a. How much did the owners take out of the business?...
A large manufacturer of pencil sharpeners is planning to add a new sharpener, and you have been asked to balance the assembly line, given the following task times and precedence relationships. Assume...
Dispositions, Including Condemnation, Demolition, and Trade-in Presented below are a schedule of property dispositions for Hollerith Co. The following additional information is available. Land On...
An incomplete subsidiary ledger of wire cable for May is as follows: a. Complete the materials issuances and balances for the wire cable subsidiary ledger under FIFO.b. Determine the balance of wire...
Farnsworth Company has gathered data on its overhead activities and associated costs for the past 10 months. Tracy Heppler, a member of the controller's department, has convinced management that...
Ethical Dilemma The American car battery industry boasts that its recycling rate now exceeds 95%, the highest rate for any commodity. However, with changes brought about by specialization and...
On April 1, DeDonder Travel Agency Inc. was established. These transactions were completed during the month. 1. Stockholders invested $30,000 cash in the company in exchange for common stock. 2. Paid...
The bank portion of the bank reconciliation for Bogalusa Company at October 31, 2017, is shown below. The adjusted cash balance per bank agreed with the cash balance per books at October 31. The...
Exchange Corp. is a company that acts as a facilitator in tax-favored real estate swaps. Such swaps, know as 1031 exchanges, permit participants to avoid some or all of the capital gains taxes that...
Identify which control activity is violated in each of the following situations, and explain how the situation creates an opportunity for fraud or inappropriate accounting practices. 1. Once a month,...
Approximately 14 million Americans are addicted to drugs and alcohol. The federal government estimates that these addicts cost the U.S. economy $300 billion in medical expenses and lost productivity....
URL Services has two divisions: Basic Web Pages and Custom Web Pages. Ricky Vega, manager of Custom Web Pages, wants to find out why Custom Web Pages is not profitable. He has prepared the reports...
1. Which approaches to employee development are mentioned in this case for Zappos? Which are mentioned for General Electric? 2. These two companies are both well respected and successful but have...
Morley Properties is planning to build a condominium development on St. Simons Island, Georgia. The company is trying to decide between building a small, medium, or large development. The payoffs...
The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report: Net revenue .......... $ 375,000 Cost of goods...
Kaffen Company, a ski tuning and repair shop, opened on November 1, 2013. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the...
You are engaged in the audit of Phoenix Corp., a new client, at the close of its first fiscal year, April 30, 20X1. The accounts had been closed before the time you began your year-end fieldwork. You...
All future costs are relevant do you agree? Why?
Lindon Company is the exclusive distributor for an automotive product that sells for $40 per unit and has a CM ratio of 30%. The companys fixed expenses are $180,000 per year. The company plans to...
White gloves Janitorial Service was started 2 years ago by Nancy Kohl. Because business has been exceptionally good, Nancy decided on July 1, 2010, to expand operations by acquiring an additional...
1. Draw a Gantt chart for the construction phase of the program. What is the completion date if construction starts in March? What is the completion date of the project if construction is started in...
1. Which principles of high-performance work systems appear in this scene? Note some examples from the scene of the principles you identify. You also can refer to Figure while viewing the scene. 2....
On August 1, 2014, Ortega Corporation issued $600,000, 7%, 10-year bonds at face value. Interest is payable annually on August 1. Ortegas year-end is December 31. Instructions Prepare journal entries...
Selected data from a February payroll register for Sutton Company are presented below. Some amounts are intentionally omitted. FICA taxes are 7.65%. State income taxes are 4% of gross earnings....
The general ledger of Pipers Plumbing at January 1, 2015, includes the following account balances: The following is a summary of the transactions for the year: a. Provide plumbing services for cash,...
Suppose that upon Polands entering the European Union, it is discovered that the cost of automobile production in Poland is 20,000 while it is 30,000 in Germany. Suppose that the EU, which has a...
AMR Corporation (parent company of American Airlines) reported the following for 2011 (in millions). Service cost .......... $366 Interest on P.B.O. ........ 737 Return on plan assets ...... 593...
1. Arthur Okun distinguished between _____prices, which changed rapidly, and custom prices, which are slow to change. 2. For most firms, the biggest cost of doing business is _____. 3. The price...
The intangible assets section of Glover Company at December 31, 2013, is presented below. Patents ($60,000 cost less $6,000 amortization) ....... $54,000 Franchises ($48,000 cost less $19,200...
The Horsheim Company is a furniture manufacturer with two departments: molding and finishing. The company uses the weighted-average method of process costing. In August, the following data were...
Outdoor Luggage Inc. makes high-end hard-sided luggage for sports equipment. Data concerning three of the companys most popular models appear below. Required: 1. The total time available on the...
Presented below is an aging schedule for Zillmann Company. At December 31, 2010, the unadjusted balance in Allowance for Doubtful Accounts is a credit of $12,000.Instructions(a) Journalize and post...
Outdoor Life manufactures snowboards. Its cost of making 2,000 bindings is as follows: Suppose Lancaster will sell bindings to Outdoor Life for $14 each. Outdoor Life would pay $3 per unit to...
Swift Manufacturing must choose between two asset purchases. The annual rate of return and the related probabilities given in the following table summarize the firm's analysis to this point. a. For...
Patty Bayan is a single taxpayer living at 543 Space Drive, Houston, TX 77099. Her Social Security number is 466-33-1234. For 2014, Patty has no dependents, and her W-2 from her job at a local...
Given the following network for a stock repurchase project with outside consulting resource demands, construct a modified Gantt AOA chart with resources and a resource load diagram. Suggest how to...
In the month of March, Style Salon services 560 clients at an average price of $120. During the month, fixed costs were $21,024 and variable costs were 60% of sales. Instructions (a) Determine the...
"Melinda!" bellowed Toran to the company's HR specialist, "I've got a problem, and you've got to solve it. I can't get people in this plant to work together as a team. As if I don't have enough...
1. Construct a service blueprint for the bear-making process indicating (1) The stages in the process; (2) The directional flow of the process; (3) Labor cost for each stage in the process; (4) The...
The trial balance of Sanchez Company at the end of its fiscal year, August 31, 2014, includes these accounts: Beginning Inventory $18,700; Purchases $154,000; Sales Revenue $190,000; Freight-In...