Review the Comprehensive Annual Financial Report (CAFR) that you obtained. 1. How does the government classify its governmental expenditures, by function or by object? Are the classifications...

Choosing cost drivers, activity-based costing, activity-based management. Annie Warbucks runs a dance studio with childcare and adult fitness classes. Annies budget for the upcoming year is as...

The Wall Street Journal reported that Juniper Networks, Inc.a maker of company network equipmentplans to offer its more than 1,000 employees the opportunity to reprice their stock options. Junipers...

Kobe Company has a factory machine with a book value of $90,000 and a remaining useful life of 5 years. It can be sold for $30,000. A new machine is available at a cost of $300,000. This machine will...

1. Do you believe that the diagnosis and resulting profile prepared by Management Analysis Corporation were necessary steps in the process of finding a potentially successful group of general...

Pantanal, Inc., manufactures car seats in a local factory. For costing purposes, it uses a first-in, first-out (FIFO) process costing system. The factory has three departments: Molding, Assembling,...

The town barber shop can accommodate 35 customers per day. The manager has determined that if two additional barbers are hired, the shop can accommodate 80 customers per day. What are the design and...

Comparative income statements and balance sheets for Coca-Cola are shown below ($ millions). Required: a. Use the following ratios to prepare a projected income statement, balance sheet, and...

As a study aid, your classmate Pascal Adams has prepared the following list of statements about decision-making and incremental analysis. 1. The first step in managements decision-making process is,...

Graser Trucking has $12 billion in assets, and its tax rate is 40%. Its basic earning power (BEP) ratio is 15%, and its return on assets (ROA) is 5%. What is its times-interest-earned (TIE) ratio?

Gator Co. invested $1,000,000 in Demo Co. for 25% of its outstanding stock. Demo Co. pays out 40% of net income in dividends each year.InstructionsUse the information in the following T-account for...

JFK Corp. factors $300,000 of accounts receivable with LBJ Finance Corporation on a without recourse basis on July 1, 2008. The receivables records are transferred to LBJ Finance, which will receive...

Paul derives utility only from CDs and DVDs. His utility function is U = C D a. Sketch Pauls indifference curves for U = 5, U = 10, and U = 20. b. Suppose Paul has $200 to spend and that CDs cost $5...

The income statement for Arbor Vitae Golf Club for the month ending July 31 shows Service Revenue $16,400, Salaries and Wages Expense $8,400, Maintenance and Repairs Expense $2,500, and Net Income...

Boyle's Home Center, a retailing company, has two departments, Bath and Kitchen. The company's most recent monthly contribution format income statement follows: A study indicates that $370,000 of the...

The following information pertains to the Davenport plant for the month of May (all materials are added at the beginning of the process): Required Compute the cost per equivalent unit for materials...

A firm has a tax burden ratio of .75, a leverage ratio of 1.25, an interest burden of .6, and a return on sales of 10%. The firm generates $2.40 in sales per dollar of assets. What is the firms ROE?

1. Given the facts of this case, is it possible for Brenda and Martin to reach a satisfactory result? Explain. 2. How could an organization go about identifying and measuring the personal...

Bus and subway ridership for summer months in London, England, is believed to be tied heavily to the number of tourists visiting the city. During the past 12 years, the following data have been...

PCB Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown below for the production of 3,000 units. The utilities and maintenance costs...

Henderson Supermarkets (HS) operates at capacity and decides to apply ABC analysis to three product lines: baked goods, milk and fruit juice, and frozen foods. It identifies four activities and their...

On August 31, 2015, the general ledger of The Dean Acting Academy shows a balance for cash of $7,944. Cash receipts yet to be deposited into the checking account total $3,338, and checks written by...

1. Why had Sony been successful in the past (e.g., with the introduction of the Walkman, PlayStation, the CD, and the VAIO computer line)? 2. What was Mr. Ideis assessment of strategic alliances...

Freight car loadings over a 12-year period at a busy port are as follows: a. Determine a linear trend line for expected freight car loadings. b. Use the trend equation to predict expected loadings...

Cook Company estimates that 360,000 direct labor hours will be worked during the coming year, 2012, in the Packaging Department. On this basis, the budgeted manufacturing overhead cost data, shown on...

REH Corporations most recent dividend was $3 per share, its expected annual rate of dividend growth is 5%, and the required return is now 15%. A variety of proposals are being considered by...

1. Would a lab experiment or a field experiment be more valid in determining whether Tooheys could cause a normal beer consumer to become intoxicated? Explain. 2. Describe an alternate research...

Thirteen students entered the business program at Sante Fe College 2 years ago. The following table indicates what each student scored on the high school SAT math exam and their grade- point averages...

Calculate the after-tax return of a 4.65 percent, 20-year, A-rated corporate bond for an investor in the 15 percent marginal tax bracket. Compare this yield to that of a 3.25 percent, 20-year,...

Two months ago, the owner of a car dealership (and a current football star) significantly changed his sales managers compensation plan. Under the old plan, the manager was paid a salary of $6,000 per...

Develop a WBS for a local stage play. Be sure to identify the deliverables and organizational units (people) responsible. How would you code your system? Give an example of the work packages in one...

On March 31, Dower Publishing discounted a $30,000 note at a local bank. The note was dated February 28 and required the payment of the principal amount and interest at 6% on May 31. The bank's...

Aaron Lynch Company has the following balances in selected accounts on December 31, 2014. Service Revenue ........$40,000 Insurance Expense...... 2,700 Supplies Expense ....... 2,450 All the accounts...

Dr. Kristine Cohen opened a medical practice specializing in physical therapy. During the first month of operation (July), the business, titled Dr. Kristine Cohen, Professional Corporation (PC),...

You have the following information for Van Gogh Inc. for the month ended October 31, 2017. Van Gogh uses a periodic method for inventory. Instructions (a) Calculate (i) Ending inventory , (ii) Cost...

Complete the table below and plot the EAC as a function of time. What are yourconclusions? Cumulative Cost, in Thousands Variance S Week BCWS BCWP ACWP Schedule Cost EAC 50 70 90 120 130 140 165 200...

What limits the usefulness to managers of fixed budget performance reports?

ShurShot Sports Inc. manufactures basketballs for the National Basketball Association (NBA). For the first 6 months of 2014, the company reported the following operating results while operating at...

Transvaal Mining Tools Ltd. of South Africa makes specialty tools used in the mining industry. The company uses an activity-based costing system for internal decision-making purposes. The company has...

Picasso Restoration Company completed the following selected transactions during May 2014: May 1. Established a petty cash fund of $800. 10. The cash sales for the day, according to the cash register...

Did Enrons bankers, auditors, and attorneys contribute to Enrons demise? If so, what was their contribution? Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant...

Suppose Nordstrom, Inc., which operates department stores in numerous states, has the following selected financial statement data for the year ending January 30, 2014. For the year, net sales were...

The Alpine House, Inc., is a large retailer of winter sports equipment. An income statement for the companys Ski Department for a recent quarter is presented below: Skis sell, on the average, for...

1. What evidence was presented in this case that the staff members from different units at Tymco might have become better acquainted. 2. What should Maria do next to improve the chances that the home...

1. Why didnt this team receive the RFP at the same time the larger consulting firms did? 2. Why is this team being considered as a candidate to submit a proposal? 3. What should Maggie, Paul, and...

Busch Corporation has an existing loan in the amount of $4.5 million with an annual interest rate of 5.5%. The company provides an internal company-prepared financial statement to the bank under the...

You are a part-time financial advisor. A client is considering an investment in common stock of a waste recycling firm. One motivation is a rumor the client heard that the company made huge...

Regis Clothiers can borrow from its bank at 17 percent to take a cash discount. The terms of the cash discount are 3/19, net 45. Should the firm borrow the funds?

Moath Company reports the following for the month of June. Instructions (a) Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO (2) LIFO. (b) Which costing method gives...

1. In the context of KS Cleaners, critically evaluate the availability of any prerequisites to implementing a performance management process. 2. Discuss your plans for developing formal job...

Organizations typically have limits to how much change they can absorb. As a manager, what signs would you look for that might suggest your organization has exceeded its capacity to change?

On November 1, 2014, the account balances of Samone Equipment Repair, Inc. were as follows. During November, the following summary transactions were completed. Nov. 8 Paid $1,500 for salaries due...

The Murdock Corporation reported the following balance sheet data for 2009 and 2008. Additional information for 2009: (1.) Sold available-for-sale securities costing $69,500 for $74,000. (2.)...

Owen Company manufactures bicycles and tricycles. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. Owen Company uses the...

Peng Plasma is a privately held Chinese business. It specializes in the manufacture of plasma cutting torches. Over the past eight years it has held the Chinese renminbi price of the PT350 cutting...

Harris Systems specializes in servers for workgroup, e-commerce, and ERP applications. The companys original job costing system has two direct cost categories: direct materials and direct labor....

The following balance sheet was prepared for Jared Corporation as of December 31, 2011. The following additional information relates to the December 31, 2011, balance sheet. (a) Cash includes $4,000...

Cost of Bank Loans Del Hawley, owner of Hawleys Hardware, is negotiating with First City Bank for a 1-year loan of $50,000. First City has offered Hawley the following alternatives. Calculate the...

On July 1, 2008, Agincourt Inc. made two sales. 1. It sold land having a fair market value of $700,000 in exchange for a 4-year zero-interest-bearing promissory note in the face amount of $1,101,460....

Landloc, a real estate development firm, is considering several alternative development projects. These include building and leasing an office building, purchasing a parcel of land and building a...

Jones Enterprises was started when it acquired $6,000 cash from creditors and $10,000 from owners. The company immediately purchased land that cost $12,000. Required a. Record the events under an...

Norman Company's income statement for the year ended December 31, 2010, contained the following condensed information. Norman's balance sheet contained the following comparative data at December 31....

Why is the life cycle curve often S shaped?

Contrast the prime law for projects, Never surprise the boss, with the corporate adage Bad news never travels up.

BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $110,100 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.8% and SUTA...

Surfs Up, a manufacturer of surfing supplies and training equipment, has the following selected data ($ in millions): Based on these amounts, calculate the following ratios for 2015: 1. Debt to...

Rachel Robertson wishes to use mean-per-unit sampling to evaluate the reasonableness of the book value of the accounts receivable of Smith, Inc. Smith has 10,000 accounts receivable accounts with a...

White Woods manufactures jewelry boxes. The primary materials (wood, brass, and glass) and direct labor are traced directly to the products. Manufacturing overhead costs are allocated based on...

WACC and Optimal Capital Structure Elliott Athletics is trying to determine its optimal capital structure, which now consists of only debt and common equity. The firm does not currently use preferred...

Tax Agency Fund. The county collector of Lincoln County is responsible for collecting all property taxes levied by funds and governments within the boundaries of the county. To reimburse the county...

1. What alternatives does the Pastorius family have to resolve their conflict? 2. What operations management principles would apply to running a microbrewery? When Tom Pastorius opened Penn Brewery...

Linda Kipp started a business on May 1, 20--. Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then...

A company produces two products, A and B, which have profits of $9 and $7, respectively. Each unit of product must be processed on two assembly lines, where the required production times are as...

Here are selected 2014 transactions of Cleland Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $62,000 and had a useful life of 10 years with...

Diamond Jims makes and sells class rings for local schools. Operating information is as follows: Selling price per ring ........... $600 Variable cost per ring Rings and stones ........... $220 Sales...

On January 1, 2014, the ledger of Shumway Company contains the following liability accounts. Accounts Payable ........... $52,000 Sales Taxes Payable ........... 5,800 Unearned Service Revenue...

Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of May: Instructions 1. For both companies, determine the...

Fernandez Corporation purchased a truck at the beginning of 2012 for $50,000. The truck is estimated to have a salvage value of $2,000 and a useful life of 160,000 miles. It was driven 23,000 miles...

Ramsey Company produces speakers (Model A and Model B). Both products pass through two producing departments. Model A's production is much more labor intensive than that of Model B. Model B is also...

Terminator, Inc. manufactures a motorcycle part in lots of 250 units. The raw materials cost for the part is $150, and the value added in manufacturing unit from its components is $300, for a total...

Joe Jones wants to establish a construction fund (or sinking fund) to pay for a new bowling alley he is having built. Construction of the bowling alley is expected to take six months and cost...

1. Arrows up or down: Outsourcing _____ production costs and _____ consumer prices. 2. In the first three months of 2004, the number of jobs moving to another state was _____ (larger/smaller) than...

What would efficient revenue management imply for the pricing of the Cowboys Stadium parking lot on typical game days? How about for the Super Bowl? How about for the many smaller events that fill...

Oscar Geer, a mid-level product manager for Theresa's Shoes, thinks his company should switch from LIFO to FIFO. He says, "My bonus is based on net income. If we switch it will increase net income...

Arlin Fabrication Company produces tools on a job order basis. During May, two jobs were completed, and the following costs were incurred: Other factory costs for the month totaled $16,800. Factory...

Sanchez Corporation runs two convenience stores, one in Connecticut and one in Rhode Island. Operating income for each store in 2007 is as follows: The equipment has a zero disposal value. In a...

(a) What is the par or stated value of Coca-Colas and PepsiCos common or capital stock? (b) What percentage of authorized shares was issued by Coca-Cola at December 31, 2007, and by PepsiCo at...

Southwest Tours Co. is travel agency. The nine transactions recorded by Southwest Tours during May 2012, its first month of operations, are indicated in the following T accounts: Indicate for each...

LaSalle Company established a petty cash fund on May 1, cashing a check for $100. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $1.75....

Runcke Motor Company manufactures automobiles. During September 2011 the company purchased 5,000 head lamps at a cost of $9 per lamp. Runcke withdrew 4,650 lamps from the warehouse during the month....

Consider the following data for November 2014 from Gray Manufacturing Company, which makes silk pennants and uses a process-costing system. All direct materials are added at the beginning of the...

The Hickory Cabinet and Furniture Company produces sofas, tables, and chairs at its plant in Greensboro, North Carolina. The plant uses three main resources to make furniturewood, upholstery, and...

Blundell Biotech is a U.S.-based biotechnology company with operations and earnings in a number of foreign countries. The company's profits by subsidiary, in local currency (in millions), are shown...

In alphabetical order below are current asset items for Dieker Companys balance sheet at December 31, 2010. Prepare the current assets section (including a complete heading). Accounts receivable...

The Cakebread Candy Company presents the following data for October: During the month, the firm purchased 49,000 pounds of materials for $127,500. Wages earned were $214,000. Compute the labor and...

Gina Vitale has just contracted to sell a small parcel of land that she inherited a few years ago. The buyer is willing to pay $24,000 at the closing of the transaction or will pay the amounts shown...

According to a summary of the payroll of Bailik Co., $880,000 was subject to the 6.0% social security tax and the 1.5% Medicare tax. Also, $40,000 was subject to state and federal unemployment taxes....

Maxwell Communications was organized on December 1 of the current year and had the following account balances at December 31, listed in tabular form: Early in January, the following transactions were...

Maria Juarez is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $40,000 cash. 1 Hired a...

What is the one greatest strength of a pluralistic society? What is the one greatest weakness? Do these characteristics work for or against business?