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i only need ans for question 3 which 3 a and 3 b

1 of 1 Q30) ceuld present 1. What part of the Mast u al report is written by the company and a nd view of financial condition and resul? Balance Sheet b. Management's Discussion and Analysis of Financial Condition and Operations (MDRA) c. Audio's Report d. In Samen 2. Horisontal analysis of mase balance sheet for 2017 would report 2 Cash 9.50% of totales b. a 17 increase in Cash and Cash Equivalents. c. a current ratio of 1.01. d. inventory turnover of times 3. Vertical analysis of Mas balance sheet for 2017 would report Cash 9.50% of m e current ratio of 1.01 b. inventory turnover of times. d. a 17% increase in Cash 4. Which statemene best describes a cident for 2017 a Greater than Less than b. Equal to 1 d. None of the above 5. Men tor turnover during 2017 wames rounded 6 times 8 times b. 7 times d. not determinable from the data ve 6. Asume al sales are credit. During 2017 een day sales in receivables ratio a. 1 days. b. 30 days. 31 days d. 28 days 7. Which measure expresses and times interest-carned ratio (umounts rounded) 254 19 cimes 1.5% 8. Marrard of return on common stockholders equity can be described as bnormal & Wong d. Average 9. The company has 2.500 shares of common stock outstanding What is a Ingriper share? 2. $1.62 $1.75 $2.73 d. 2.63 times 10A l e for an em to be reported in the tradinary m ction of the income statement, m e a. unusual unusual or infrequent b. infrequent d. and infrequent. Question 1 Artificial Perfume Supplies manufactures its own brand of male perfume. At the end of December 2020, the accounting records showed the following: Inventories: Beginning $13.500 0 Ending $ .500 1.500 Raw Material Work--Process Finished goods Other information 6.100 $34000 Raw materials purchases Plantaritorial services Sales salaries Delivery cost Sales revenue Utilities for plant Rent on plant Customer service hotline costs Direct labor 5.200 1,300 114,000 2.000 1600 19,000 Required: Prepare a schedule of cost of goods manufactured for Artificial Perfume Supplies for the year ended December 31, 2020 Prepare an Income Statement for Artificial Perfume Supplies for the year ended December 31.2020 How does the format of the income Statement for Artificial Perfume Supplies differ from the income statement of a merchandiser. (5 marks) Artificial Perfume Supplies manufactured 17,200 units of its product in 2020. Calculate the company's unit product cost for the year. Question 2 Honda Motorcycles manufactures motor scooters. The company has automated production, so it allocates manufacturing overhead based on machine hours. Honda expects to incur $240,000 of manufacturing overhead costs and to use 4.000 machine hours during 2020. At the end of 2019, Honda reported the following inventories: Raw materials inventory Work in process inventory Finished goods inventory S20.000 $17.000 $11,000 During January 2020, Honda actually used 300 machine hours and recorded the following transactions Purchased materials on account, $31,000 b. Used direct materials, $39,000 Manufacturing wages incurred totaled $40,000, of which 90% was direct labor and 10% was indirect labor d. Used indirect materials, $3.000 e Incurred other manufacturing overhead on account. $13.000 f. Allocated manufacturing overhead for January 2016 & Cow of completed motor scooters, $100,000 Sold scooters on account, $175.000, con of scooters sold. 995.000 Required: 1 Calculate Honda's predetermined overhead rate for 2020. 2. Journaline the transactions in the general journal. Use the following account Account Receivable. Raw Materials Inventory Work in Process I X . Finished Goods Inventory Accounts Payable, Wages Payable, Sales Revenue Manufacturing Overhead, and Cost of Goods Sold 3. Ses up T-accounts for the accounts listed in Requirement 2. Enter the beginning bilances for the inventory account and assume the remaining accounts have a beginning balance of So. Post the transactions to the T-accounts and determine the ending balances 4. Md Manufacturing Overhead for the overallocated or underallocated overhead Post your entry to the accounts. 5. What are the ending balances in the three inventory accounts and in Cost of Goods Sold? Q35 1. What are the three main ways to analye financial statement 2. What is an annual report Briefly describe the key parts of the annual report. 3. What is horizontal analysis, and how is a percentage change computed? 4. What is trend analysis, and how does it differ from horizontal analysis 5. What is vertical analysis? What item is used as the base for the income statement? What inem is used as the base for the balance sheet? 6. Describe a common-site statement and how it might be helpful in evaluating a company 7. What is benchmarking, and what are the two main types of benchmarks in financial statement analysis 8. Briefly describe the ratios that can be used to evaluate a company's ability to pay current liabilities 9. Briefly describe the ratios that can be used to evaluare a company's ability to sell merchandise inventory and collect receivables. 10. Briefly describe the ratios that can be used to evaluare a company's ability to pay long-term debt. 11. Briefly describe the ratios that can be used to evaluate a company's profitability 12. Briefly describe the ratios that can be used to evaluate a company's stock as an investment. 13. What are some common red flags in financial statement analysis? 144. What is reported in the discontinued operations section of the income statement 15A. Describe the types of inems that would be reported in the extraordinary items section of the income statement 1 of 1 Question 3 Mason Corporation reported the following financial statements: Mason Corporation Comparative Balance Sheet December 31, 2017 and 2016 Assets $ 2.094 Current Assets Cash and Cash Equivalents Accounts Receivable Merchandise Prepad Expenses Total Current Other Adet Total Assets 2.120 15.732 Current Liabilities Long-tamil Total Labs $ 7.230 58467 4.7983 ,292 12.028 12,259 Stockholders' Equity Common Stock, no per Retained carings Total Stockholders' Equity Totalbies and Stockholders' Equity 7200 10363 $22.622 $25.76 Income Statement Year Ended December 31, 2017 Net Sales Cost of Goods Sold Gross Profit Operating penses Operating income Interest Expense Income before income Taxes Net income Question 1 Artificial Perfume Supplies manufactures its own brand of male perfume. At the end of December 2020, the accounting records showed the following: Inventories Raw Materials Wo haces ed goods Beginning Ending $ 1600 SS500 F Other information $34000 Raw material purchases Pantal services Sales salaries Delivery costs Sales revenue Ulities for plant Renton plant Customer service hotline costs Direct labor 116000 2.000 11.000 1,600 19.000 Required: Prepare a schedule of cost of goods manufactured for Artificial Perfume Supplies for the year ended December 31, 2020 Prepare an income Statement for Artificial Perfume Supplies for the year ended December 31.2020 How does the format of the income Statement for Artificial Perfume Supplies fer from the income statement of a merchandiser (5 marts) Artificial Perfume Supplies manufactured 17.200 units of its product in 2020. Calculate the company's unit product cost for the year