1.Illustrate using graphs the effects of government intervention on financial institutions

2.Frodic Corporation has budgeted sales and production over the next quarter as follows:

Sales in Units : September : 50,000 October : 54,000 November : ?

Production in Units : September : 50,400 October : 52,300 November : 56,650

Units of Product on Hand, September 1 : 5,000

Desired Ending Inventory : 10% of next month's sales

Budgeted Sales for November would be ?

3.Moren Opera performs at a local theater. The average show sells 1,000 tickets at $60 per ticket. The company runs 80 shows a year and each show requires a team of 75 artists. Each artist receives a base salary of $10,000 per year plus $375 per show. Program printing cost is $2 per guest. Sales commission to agent includes a base of $2,000 per show plus a commission of $3 per ticket. Annual rent and other fixed costs total $300,000. The number of shows that must be performed each year to break even is?

4.The following data have been taken from the budget reports of Sequioia Company, a merchandising company, which purchases merchandise inventory and sells to customers. The information on the sales to customers and the purchase of the inventory is given below:

January : Sales : 100,000 Purchases : 160,000

February : Sales : 200,000 Purchases : 160,000

March : Sales : 240,000 Purchases : 160,000

April : Sales : 280,000 Purchases : 154,000

May : Sales : 260,000 Purchases : 140,000

Additional Information :

The % of purchases paid for cash at the time of purchase : 40%

The % of purchases paid in the next month after purchase : 30%

The % of purchases paid in the second month after purchase : 30%

Purchases for November and December in the previous year : $150,000 per month

The Cost of Goods Sold is 60% of sales

Collections are expected as follows : 60% in month of sale, 40% in month following the sale

Employee wages are 10% of sales for the month in which the sales occur and are paid during the month

Other administrative expenses are 20% of the following month's sales and the entire amount is paid during the current month. The amount includes depreciation expense for the office equipment of $13,000.

Interest payments of $2,100 are paid quarterly in January and April (monthly interest is $700).

Sequoia is planning to declare cash dividends in April to be paid in May : $10,000

The balance in retained earnings is expected to be $210,000 on March 31.

Cash disbursements for the month of April would be ?

5.Martin Company requires 6 direct labor hours for each unit produced and pays $20 per hour. During the last month, the company produced 1,000 units of product and paid a total of $87,120 direct labor salary. The labor efficiency variance was $800 favorable. What was the direct labor rate variance?

6.A manufacturer of sound equipment uses a standard costing system with fixed manufacturing overhead applied based on Machine Hours. According to their standards, each unit requires 2 Machine Hours.

For the most recent period :

Budgeted Units : 1,400

Actual Units : 1,586

Actual Machine Hours : 3,400

Fixed Manufacturing Overhead -> budget : 40,650 actual : 41,600

Question : The Fixed Manufacturing Overhead Volume Variance for the period was closest to :

7.Atlanta Inc. applies manufacturing overhead based on machine hours. The following information is available at the end of the period:

Machine Hours Available at Capacity : 79,000

Machine Hours Estimated For the Period : 68,000

Machine Hours Actually Incurred During the Period : 63,500

Estimated Manufacturing Overhead : $3,384,360

Actual Manufacturing Overhead : $3,642,690

If Atlanta bases its predetermined overhead rate on activity at capacity, how much lower will its applied manufacturing overhead be versus traditional GAAP Method?

8.Corley Corporation uses the weighted average method in its process costing system. The ending work in process inventory consists of 9,500 units. The ending work in process inventory is 100% complete with respect to materials. The cost per equivalent unit is $3.75 for material and $1.25 for conversion cost. If the ending balance of work in process inventory account is $41,625, what is the percentage of completion with respect to conversion cost in the ending work in process inventory account?

9.How do you calculate compound interest, derive the formula

10.Find the accumulated value at the end of 10 years of 4 payments of 200 each payable half yearly in advance, if the interest rate is:

(a) 3% per annum e

ffective.

(b) 5% per annum convertible monthly.