1.Calculate the number of handbags that must be sold for the company to make an annual profit of 80,000.

Elite Accessories Ltd. is planning to sell 4,000 handbags next year at a selling

price of 85. To make each handbag, the company uses 0.6m² of leather at a cost of 40 per m², two hours of direct labor at 8 per hour and 5 of variable overheads. Fixed costs are estimated to be 100,000 for the year.

2.Internal Insights Inc., A developer of radiology equipment, has stock outstanding as follows: 70,000 shares of cumulative preferred 2% stock, $60 par, and 100,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $49,000; second year, $132,000; third year, $146,000; fourth year, $160. Compute the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places

3.Glisan Corporation's relevant range of activity is 4,000 units to 8,000 units. When it produces and sells 6,000 units, its average costs per unit are as follows:

average cost per unit

Direct materials 5.75

direct labor 3.00

variable manufacturing overhead 1.60

fixed manufacturing overhead 4.50

fixed selling expense 0.75

fixed administrative expense 0.60

sales commissions 1.50

Gilsan currently sells at a price of $24 per unit

SHOW WORK

Part A.What is net operating income assuming Glisan sells 6400 units?

Part B.Compute the gross margin assuming Glisan sells 6600 units.

Part C.Assume that Glisan can only increase sales to 6400 units by decreasing the current price of $24 by 2.6%. If Glisan does not decrease the price, then demand will stay at 6,000 units. How much better or worse off is Glisan if it decreases the price?If better off, enter your answer as a positive number, if worst off enter your answer as a negative number.Round to the nearest dollar.

4.Mcmurtry Corporation sells a product for $170 per unit. The product's current sales are 12,800 units and its break-even sales are 11,136 units. The margin of safety as a percentage of sales is closest to:

5.Accounting Equation Shannon Cook is the stockholder and operator of You're A Star LLC , a motivational consulting business. At the end of its accounting period, December 31, 20Y2, You're A Star has assets of $777,000 and liabilities of $186,000. Using the accounting equation determine the following amounts:

A. Stockholders equity as of December 31, 20Y2 .

B. Stockholders equity as of December 31, 20Y3 , assuming that assets decreased by $148,000 and Tables decreased by $45,000 during 20Y3

6.What is the role of the management accountant

7.Explain the factors that influence a company's demand for management accounting information

8.Discuss the purpose of standards costing

9.Describes how a standard costing system operates

10.On June 25, Repair Service extended an offer of $141,000 for land that had been priced for sale at $161,000, On July 9, AAA Repair Service accepted the seller's counteroffes of $153,900. On October 1 the was assessed at a value of $230,000 for property tax purposes. On December 22, AAA Repair Service was offered $245,000 for the land by a national retail chain.

At what value should the land be recorded in AAA Repair Service's records?