Hope you are well. I have an assignment that has a time limit of 4 hours with 23 questions. Nonetheless, these questions are not long and hard, all I need is direct answer. It?s due tonight, so there is 4 hours left for the deadline. Attached are the 1st attempt questions

Question 2 0 out of 2 points The forecasted sales pertain to Arrow Corporation: Month September October Sales $400,000 320,000 Finished Goods Inventory (August 31): 28,000 Arrow Corporation has a selling price of $5 on all units and expects to maintain ending inventories equal to 25 percent of the next month's sales. How many units does Arrow expect to produce in September? Selected Answer: 36,000 Correct Answer: 68,000 Question 4 2 out of 2 points Tempe Milling is evaluating a proposal to invest in a new piece of equipment costing $90,000 with the following annual cash flows over the equipment's 6-year useful life: Cash revenues $90,000 Cash expenses (52,000) Depreciation expenses (straight-line) (15,000) Income provided from equipment $23,000 Cost of capital 14 percent The accounting rate of return on initial investment is: Selected Answer: 25.56 percent Correct Answer: 25.56 percent Question 6 0 out of 2 points Urbana Corporation is considering the purchase of a new machine costing $152,000. The machine would generate net cash inflows of $46,426 per year for 5 years. At the end of 5 years, the machine would have no salvage value. Urbana's cost of capital is 12 percent. Urbana uses straight-line depreciation. Using a spreadsheet or financial calculator, determine the internal rate of return for the investment. The proposal's internal rate of return (rounded to the nearest percent) is: Selected Answer: 12 percent Correct Answer: 16 percent Question 8 0 out of 2 points Nicky's Donut Shop is considering an investment of $100,000. Data related to the investment and present value factors are as follows: Year Cash Inflows Present Value of $1.00 1 $90,000 0.877 2 88,000 0.769 3 64,000 0.675 4 120,000 0.592 5 120,000 0.519 The net present value of the investment is: Selected Answer: $314,352 Correct Answer: $223,122 Question 10 0 out of 2 points Leo Production Company has the following information: Standard fixed factory overhead rates per direct labor-hour $3.00 Standard variable factory overhead rates per direct labor-hour $10.00 Actual number of units produced 12,000 units Actual factory overhead costs (includes $70,000 fixed) $156,000 Actual direct labor hours 12,000 hours Standard factory overhead rates are based on a normal monthly volume of 10,000 units (1 standard direct labor-hour per unit). What is Leo's variable overhead efficiency variance? Selected Answer: $10,000 (F) Correct Answer: $ -0- Question 16 0 out of 2 points A project under consideration has a net present value of $10,000 for a required investment of $60,000. There are no other investment options at this time. However, the assumed discount rate used to calculate the net present value is 20%. On the basis of this information alone, this project should: Selected Answer: Correct Answer: Probably be approved since the net present value is greater than zero Question 17 0 out of 2 points The management of Mouser Manufacturing is analyzing variable overhead variances for the fiscal period just ended. The flexible budget called for $352,000 in variable overhead but actual variable overhead was $400,000. In computing the overhead variances, Mouser's management discovered that it had used 80,000 pounds of direct material, rather than the budgeted amount of 88,000 pounds. (Pounds of direct material is the single overhead driver of variable overhead). The standard variable overhead rate per pound of direct material is $4.00. What is Mouser's variable overhead efficiency variance? Selected Answer: $16,000 (F) Correct Answer: $32,000 (F) Question 20 0 out of 2 points Falcon Company had sales of $3,000,000, net income of $400,000, and an asset base of $1,200,000. Its investment turnover is: Selected Answer: 1.50 Correct Answer: 2.50 Question 22 0 out of 2 points Homer Glen Division has the capacity to make 3,000 units of an intermediate good that is sold both internally and on the open market for a price of $63 each. To make the product, Homer Glen incurs $14 of variable cost per unit and $24 of fixed costs per unit. What is the minimum price Homer Glen would accept for an internal transfer of 1,000 units of the product if the division is operating at 100% capacity? Selected Answer: $38.00 each Correct Answer: $63.00 each Question 23 0 out of 2 points Next Step Company is a two-division firm and has the following information available for this year: Common fixed costs $ 800,000 Direct fixed costs of Division A 200,000 Direct fixed costs of Division B 400,000 Sales revenue of Division A 1,200,000 Sales revenue of Division B 1,800,000 Variable costs of Division A 240,000 Variable costs of Division B 360,000 What is Division A's contribution margin? Selected Answer: $(240,000) Correct Answer: $ 960,000 Question 25 0 out of 2 points Sammy Corporation is considering an investment in equipment for $150,000 with a four-year life and no salvage value. Sammy uses the straight-line method of depreciation and is subject to a 34 percent tax rate. Over the life of the project, the total tax shield created by depreciation is: Selected Answer: $ 25,000 Correct Answer: $ 51,000 Question 27 2 out of 2 points Thomas, Inc. uses activity-based costing. The company produces two products, 001 and 002. Information relating to the two products is as follows: Units produced Machine-hours Direct labor-hours Materials handling (number of moves) Setups The following costs are reported: Materials handling Labor-related overhead Setups Setup costs assigned to 002 are: Selected Answer: $350,000 Correct Answer: $350,000 Question 28 0 out of 2 points The Year 1 selling expense budget for Karin Corporation is as follows: Budgeted sales Selling costs: Delivery expenses Commission expenses Advertising expenses Office expenses Miscellaneous expenses Total Delivery and commission expenses vary proportionally with budgeted sales in dollars. Advertising and office expenses are fixed. Miscellaneous expenses include $10,000 of fixed costs. The rest varies with budgeted sales in dollars. The Year 2 budgeted sales is $3,400,000. What will be the value for commission expenses in the Year 2 selling expense budget? Selected Answer: $122,000 Correct Answer: $102,000 Question 29 0 out of 2 points USE THE FOLLOWING INFORMATION FOR QUESTIONS 47 - 50: Seemore Company manufactures binoculars. The actual costs for 2013 and 2014 were as follows: Direct materials: Plastic case Lens set Direct labor Indirect manufacturing costs: Variable Fixed Beginning in 2014, Seemore implemented a continuous improvement program that required a first-year cost reduction target of a 7 percent reduction of the 2013 base. Seemore's continuous improvement target for indirect variable manufacturing costs in 2014 was: Selected Answer: $17.60 Correct Answer: $14.88 Question 30 0 out of 2 points Plainfield Company has two divisions: the Mixing Division and Bottling Division. The Mixing Division sells beverage mix to the Bottling Division. Standard costs for the Mixing Division are as follows: Direct materials $4.00 per gallon Direct labor 1.60 per gallon The Mixing Division uses the following predetermined overhead rate: Variable overhead $2.40 per gallon Fixed overhead 1.60 per gallon Total $4.00 per gallon What is the transfer price for the beverage mix per gallon based on standard absorption cost plus a markup of 30 percent? Selected Answer: $ 9.50 Correct Answer: $ 12.48 Question 32 0 out of 2 points Cari Chair Company manufactures rocking chairs. The estimated number of rocking chair sales for each of the last three months of Year 1 is as follows: Unit Sales October 10,000 November 14,000 December 15,000 Month Finished goods inventory at the end of November was 4,000 units. Desired ending finished goods inventory is equal to 25 percent of the next month's sales. Cari Chair expects to sell the chairs for $100 each. January sales for Year 2 are projected at 16,000 chairs. How many chairs should Cari produce in December? Selected Answer: 9,500 Correct Answer: 15,000 Question 35 0 out of 2 points Read Publishing is considering the purchase of a used printing press costing $84,200. The printing press would generate a net cash inflow of $37,422 a year for 3 years. At the end of 3 years, the press would have no salvage value. The company's cost of capital is 10 percent. The company uses straight-line depreciation. The present value factors of an annuity of $1.00 for different rates of return are as follows: Cost of Capital Period 8% 10% 12% 14% 16% 2 1.78 1.74 1.69 1.65 1.61 3 2.58 2.49 2.40 2.32 2.25 4 3.31 3.17 3.04 2.91 2.80 The investment's net present value is: Selected Answer: $ 5,480 Correct Answer: $ 8,981 Question 40 0 out of 2 points Assume the following information for a product line: Sales revenue $2,200,000 Variable manufacturing costs 200,000 Fixed manufacturing costs 150,000 Variable selling/administrative costs 120,000 Fixed selling/administrative costs 100,000 What is the product line's segment income? Selected Answer: $1,530,000 Correct Answer: $1,630,000 Question 42 2 out of 2 points Long Horn Medical Services is considering an investment of $100,000. Assume the discount rate is 18%. Data related to the cash inflows are as follows: Year Cash Inflows 1 $50,000 2 46,000 3 60,000 4 80,000 5 50,000 Using a spreadsheet or financial calculator, determine the net present value for the investment. The investment's net present value is: Selected Answer: $ 75,046 Correct Answer: $ 75,046 Question 43 0 out of 2 points Boulder Milling is evaluating a proposal to invest in a new piece of equipment costing $100,000 with the following annual cash flows over the equipment's 4-year useful life: Cash revenues $120,000 Cash expenses (64,000) Depreciation expenses (straight-line) (20,000) Income provided from equipment $36,000 Cost of capital 12 percent Using a spreadsheet or financial calculator, determine the net present value for the investment. The investment's net present value is: Selected Answer: $170,092 Correct Answer: $ 70,092 Question 45 0 out of 2 points Texas Curtain Works is in the process of preparing its budget for next year. Cost of goods sold has been estimated at 70 percent of sales. Fabric purchases and payments are to be made during the month preceding the month of sale. Wages are estimated at 20 percent of sales and are paid during the month of sale. Other operating costs amounting to 25 percent of sales are to be paid in the month following the month of sales. Sales revenue is forecasted as follows: Month February March April May June Sales $440,000 $450,000 $480,000 $500,000 $510,000 What is the amount of fabric purchases during the month of March? Selected Answer: $288,000 Correct Answer: $336,000 Question 46 0 out of 2 points Cardinal Company allocates common Building Department costs to producing departments (A and B) based on space occupied, and it allocates common Personnel Department costs based on the number of employees. Space occupancy and employee data are as follows: Building Personne Space occupied Employees 200 ft. 3 If Cardinal uses the direct allocation method, the ratio representing the portion of Personnel costs allocated to Department A is: Selected Answer: None of the above Correct Answer: 90/115 Question 48 0 out of 2 points Long Horn Medical Services is considering an investment of $100,000. Data related to the investment and present value factors are as follows: Year Cash Inflows Present Value of $1.00 1 $50,000 0.85 2 46,000 0.72 3 60,000 0.61 4 80,000 0.52 5 50,000 0.44 The investment's net present value is: Selected Answer: $ 62,920 Correct Answer: $ 75,820 Question 50 0 out of 2 points Thomas Company has a sales budget for next month of $1,000,000. Cost of goods sold is expected to be 45 percent of sales. All goods are paid for in the month following purchase. The beginning inventory of merchandise is $20,000, and an ending inventory of $24,000 is desired. Beginning accounts payable is $152,000. For Thomas Company, the ending accounts payable should be: Selected Answer: $356,000 Correct Answer: $454,000 1. USE THE FOLLOWING INFORMATION FOR QUESTIONS 47 - 50: Seemore Company manufactures binoculars. The actual costs for 2013 and 2014 were as follows: 2013 Direct materials: Plastic case Lens set Direct labor Indirect manufacturing costs: Variable $ 8.00 34.00 64.00(1.6 hours) $ 7.60 34.40 60.00(1.5 hours) 16.00 14.20 (120,000 3.80 units) (100,000 4.00 units) Fixed 2014 Beginning in 2014, Seemore implemented a continuous improvement program that required a first-year cost reduction target of a 7 percent reduction of the 2013 base. Seemore's continuous improvement target for lens sets in 2014 was: $31.62 $34.40 $37.40 $32.30 2. Sayali Company manufactures metal brackets. The estimated number of metal bracket sales for the first three months of the current year is: Month January February March Unit Sales 2, 500 2,800 2,400 Finished goods inventory at the end of last December was 300 units. Desired ending finished goods inventory is equal to 20 percent of the next month's sales. Sayali Company expects to sell the brackets for $20 each. How many brackets should Sayali produce in January? 1,960 2,360 2,760 2,600 3. Assume that EEG Company wanted to reduce the cost of materials handling in each of its stores, and management set a target reduction of 2 percent per year. If a given store has current annual materials handling costs of $200,000 and expected an increase next year due to 15 percent growth, the budget for next year would be: $216,000 $196,000 $230,000 $225,400 4. Boulder Mower Manufacturing Company has three divisions. Engine components are transferred from Components to Assembly. Assembled engines are transferred from Assembly to the Mower Division. Costs for each division are given below. Mowers are sold on a competitive outside market for $250. There are no outside markets for engine components or assembled engines. Division Name Components Assembly Mower Total variable costs $100 per package of components $20 per engine plus transfer price paid to Components $200 per mower plus transfer price paid to Assembly Total division fixed costs $110,000 $110,000 $220,000 This period, Components sends Assembly 10,000 packages of engine components. Using a market based transfer price, determine the amount Assembly would pay Components: Cannot be determined from the information provided Is based on the Component's division's variable cost Is based on the Component's division's full absorption cost Is the $250 market price of the mowers 5. Tracey Sales Co. has predicted the following costs for this year for 500,000 units: Manufacturing Variable Fixed Total $ 800,000 1,200,000 $2,000,000 Selling and Administrative $250,000 300,000 $550,000 What is the markup on variable manufacturing costs needed to break even? 218.75 percent 212.50 percent 150.00 percent 25.00 percent 6. The Year 1 selling expense budget for Karin Corporation is as follows: Budgeted sales $2,500,000 Selling costs: Delivery expenses $25,000 Commission expenses 75,000 Advertising expenses 20,000 Office expenses 12,000 Miscellaneous expenses 30,000 Total $ 162,000 Delivery and commission expenses vary proportionally with budgeted sales in dollars. Advertising and office expenses are fixed. Miscellaneous expenses include $10,000 of fixed costs. The rest varies with budgeted sales in dollars. The Year 2 budgeted sales is $3,400,000. What will be the value for commission expenses in the Year 2 selling expense budget? $102,000 $ 24,000 $ 48,000 $122,000 7. USE THE FOLLOWING INFORMATION FOR QUESTIONS 47 - 50: Seemore Company manufactures binoculars. The actual costs for 2013 and 2014 were as follows: 2013 Direct materials: Plastic case Lens set Direct labor Indirect manufacturing costs: Variable Fixed 2014 $ 8.00 34.00 64.00(1.6 hours) $ 7.60 34.40 60.00(1.5 hours) 16.00 14.20 (100,000 4.00 units) 3.80 (120,000 units) Beginning in 2014, Seemore implemented a continuous improvement program that required a first-year cost reduction target of a 7 percent reduction of the 2013 base. Seemore's continuous improvement target for plastic cases in 2014 was: $8.00 $7.60 $7.44 $8.80 8. Birchtown Company's budgeted sales were 5,000 units at $400 per unit. Actual sales were 4,500 units at $420 per unit. Birchtown's sales price variance was: $ 34,000 (U) $100,000 (U) $ 90,000 (F) $ 45,000 (F) 9. Boulder Milling is evaluating a proposal to invest in a new piece of equipment costing $100,000 with the following annual cash flows over the equipment's 4-year useful life: Cash revenues $120,000 Cash expenses (64,000) Depreciation expenses (straight-line) (20,000) Income provided from equipment $36,000 Cost of capital 12 percent Using a spreadsheet or financial calculator, determine the net present value for the investment. The investment's net present value is: $ 9,345 $170,092 $ 70,092 $264,482 10. Cari Chair Company manufactures rocking chairs. The estimated number of rocking chair sales for each of the last three months of Year 1 is as follows: Month Unit Sales October 10,000 November 14,000 December 15,000 Finished goods inventory at the end of November was 4,000 units. Desired ending finished goods inventory is equal to 25 percent of the next month's sales. Cari Chair expects to sell the chairs for $100 each. January sales for Year 2 are projected at 16,000 chairs. How many chairs should Cari produce in December? 15,000 14,000 9,500 10,500 11. Chattanooga, Inc. has two categories of overhead: maintenance and inspection. Costs expected for these categories for the coming year are as follows: Maintenance $800,000 Inspection 400,000 The following data have been assembled for use in developing a bid for a proposed job: Direct materials $6,000 Direct labor $16,000 Machine-hours 400 Number of inspections 4 Direct labor-hours 800 The practical capacity of machine-hours for all jobs during the year is 25,000, and for inspections is 800. These are the cost drivers for maintenance and inspection costs, respectively. Using the appropriate cost drivers, the total cost of the potential job is: $22,000 $14,400 $33,600 $36,800 12. Boulder Milling is evaluating a proposal to invest in a new piece of equipment costing $110,000 with the following annual cash flows over the equipment's 4-year useful life: Cash revenues $95,000 Cash expenses (52,000) Depreciation expenses (straight-line) (15,000) Income provided from equipment $28,000 Cost of capital 14 percent The investment's payback period is (rounded to two decimal places): 3.91 3.33 2.37 2.56 2500 2800 2400 Dec Ending Sales Month Oct Nov Dec 300 560 2500 200000 Variable Fixed Total Budgeted sales Selling costs: Delivery expenses Commissio n expenses 15% 10000 14000 2500 2800 25% desireend Req unit Beg inv Product 3500 13500 2500 11000 625 14625 3500 11125 560 3060 300 2760 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 2% 225400 Manf OH $800,000 $1,200,000 $2,000,000 S&Admin $250,000 $300,000 $550,000 150% $100,000 1200000 $10,000 20,000 Advertising expenses Office expenses Miscellane ous expenses Total unit Budgeted sales Selling costs: Delivery expenses Commissio n expenses Advertising expenses 10,000 Office expenses Miscellane ous expenses Total 6,000 15,000 $162,000 $2,500,000 $25,000 0.01 75,000 20,000 0.03 102000 20,000 12,000 0.0048 30,000 0.012 $162,000 $61,000 3% 0.1 120000 102000 7.44 5000 4500 maint Insp Hours Main Inspe Rate Main Inspe D.mat D. lab Mach hou Insp 400 420 $800,000 400000 25000 800 $32 500 6000 16000 $12,800 2000 $36,800 1800000 1890000 90000 -100000 Cash inflow Rev Expe Dep Income Cash flow $170,091.56 $70,092 2.56 120000 64000 20000 36000 -110000 43000 43000 43000 43000 36000 56000 31.62 2760 225400 Cannot be determined from the information provided 150% 102000 7.44 90000 $70,092 15000 $36,800 2.56 2500 2800 2400 Dec Ending Sales Month Oct Nov Dec 300 560 2500 200000 Variable Fixed Total Budgeted sales Selling costs: Delivery expenses Commissio n expenses 15% 10000 14000 2500 2800 25% desireend Req unit Beg inv Product 3500 13500 2500 11000 625 14625 3500 11125 560 3060 300 2760 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 2% 225400 Manf OH $800,000 $1,200,000 $2,000,000 S&Admin $250,000 $300,000 $550,000 150% $100,000 1200000 $10,000 20,000 Advertising expenses Office expenses Miscellane ous expenses Total unit Budgeted sales Selling costs: Delivery expenses Commissio n expenses Advertising expenses 10,000 Office expenses Miscellane ous expenses Total 6,000 15,000 $162,000 $2,500,000 $25,000 0.01 75,000 20,000 0.03 102000 20,000 12,000 0.0048 30,000 0.012 $162,000 $61,000 3% 0.1 120000 102000 7.44 5000 4500 maint Insp Hours Main Inspe Rate Main Inspe D.mat D. lab Mach hou Insp 400 420 $800,000 400000 25000 800 $32 500 6000 16000 $12,800 2000 $36,800 1800000 1890000 90000 -100000 Cash inflow Rev Expe Dep Income Cash flow $170,091.56 $70,092 2.56 120000 64000 20000 36000 -110000 43000 43000 43000 43000 36000 56000 31.62 2760 225400 Cannot be determined from the information provided 150% 102000 7.44 90000 $70,092 15000 $36,800 2.56