Question 1

Fortes Inc. has provided the following data concerning one of the products in its standard cost system. Materials price variances is calculated on material purchased and materials quantity is based on Material used in production. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Standard Quantity or Hours Standard Price or Inputs per Unit of Output Rate Direct materials 10.0 ounces $ 8.10per ounce Direct labor 0.5 hours $ 24.70per hour Variable manufacturing overhead 0.50 hours $ 6.40per hour The company has reported the following actual results for the product for April: Actual output 7600units Raw materials purchased 50,2000unces Actual cost of raw materials purchased $ 386,210 Raw materials used in production 76,03 Oounces Actual direct labor-hours 345 0hours Actual direct labor cost $ 88,880 Actual variable overhead cost $ 21,295 Required :" Enter all numbers as positive and rounded to the nearest dollar Materials price variance Materials quantity variance* $ Labor rate variance Labor efficiency variance* EA Variable overhead rate variance* EA Variable overhead efficiency variance EAHoll Corporation has provided the following data for November . Denominator level of activity 490 0 machine - hours Budgeted fixed manufacturing overhead costs 58 , 310 Standard machine - hours allowed for the actual output 520 0 machine - hours Actual fixed manufacturing overhead costs $ 57, 330 Required :" Calculate the following . Input all amounts as positive values FOH Budget Variance FOH Volume VarianceQUESTION 3 Schurz Corporation's management reports that it's average delivery cycle time is 29 days , it's average throughput time is 15 . 0 days , its manufacturing cycle efficiency ( MCE ) is 0. 32 , it's average move time is 0.7 day , and its average queue time is 7 .9 days . Required :" Round your answer to I decimal place . What is the Wait Time ? days Process Time ? days Inspection Time ?! daysPresent Value of St 1 . It Periods 436 536 686 786{ 836 936 103 1135 127 137 143 15% 168 1736 1836 198 20% 2136 2236 237 248 25%\\ 9.962 0.952 0.943 0935 0.926 0917 0.909 0901 0893 08.85 0.877 0.870 0.862 0.855 0.8:47 0.840 0.8:33 0.826 0.8.20 0.813 9.806 0.800* 0.925 0.907 0.890 0.873 0.857 0.842 0.826 0812 0.797 0.783 0.769 0.756 0.743 0.731 0.718 0.706 0.694 0.683 0.672 0.661 9650 0.640 0.8 89 0.864 0.840 0.816 0.794 0.772 0.751 0.731 0.712 0 693 0.675 0.658 0.641 0.624 0.609 0.593 0.579 0.554 0.551 0.537 0.524 0.512 0.855 0.823 0.792 0. 763 0.735 0.708 0683 0659 0.636 0613 0.592 0.572 0.552 0.534 0.516 0.499 0.482 0.467 0.451 0.437 9.423 0$10 0.822 0784 0.747 0713 0.681 0.650 0621 0593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.402 0. 386 0.370 0.355 0.341 0.328\\ 0.790 0.746 0.705 0686 0.630 0.596 0564 0535 0.507 0.480 0.456 0.432 0. 410 0 . 390 0. 370 0 . 352 0 . 3:35 0 .319 0 . 303 0 . 289 0.275 0.262 0.760 07:1 0665 0.623 0.583 0.547 0513 0482 0.452 0.425 0.400 0.376 0.354 0.3.33 0.3.1 4 0.296 0.270 0.263 0.240 0.235 0.222 0.210 9. 731 0.677 0.627 0.582 0.540 0.502 0.467 9434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0.233 0.218 0.204 0.191 0. 179 0. 168 10 Q.703 0.645 0.592 0.544 0.500 9. 460 0 424 0391 0: 361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0. 194 0. 180 0. 167 0.155 0. 144 0. 134) 9.676 0.614 0.558 0.508 0.463 0. 422 0. 386 0.352 0.322 0.295 0.270 0.247 0.227 0.208 0.191 0. 176 0. 162 0. 149 0. 137 0. 126 0.1 16 0. 107\\ 12 0.650 0.585 0.527 0475 0 420 0 383 0 350 0 317 0 287 0261 0.237 0.215 0.195 0. 178 0. 162 0. 148 0. 135 0. 123 0. 1 12 0. 103 9.094 0.085) 13 0.625 0.557 0.497 04 40 0.397 0.356 0.319 0 286 0.257 0.231 0.208 0. 187 0. 168 0. 152 0. 137 0.124 0.1 12 0. 102 0.092 0.083 0.076 0.06s 9.601 0.530 0.469 0415 0368 0.326 0280 0258 0.220 0.204 0. 182 0. 163 0. 145 0. 130 0. 1 16 0. 104 0.093 0.084 0.075 0.068 9.061 0.055 0.577 0.505 0.4 42 0 383 0. 340 0. 295 0. 263 0232 0. 205 0. 181 0. 160 0. 141 0. 125 0.11 1 0.099 0.088 0. 078 0.069 0.062 0.055 0.049 9.040 0.555 0.481 0.417 0.362 0.315 0.275 0. 239 0.209 0. 183 0. 160 0. 140 0. 123 0 . 108 0.095 0.084 0.074 0.065 0.057 0.051 0.045 0.040 0.035\\ 17 0.534 0.459 0. 394 0:3:39 0 292 0. 252 0 218 Q 183 0. 163 0. 141 0. 123 0. 107 0.093 0.081 0.071 0.062 0.054 0.047 0.042 0.036 0.032 0.028) 18 0.513 0.436 0 371 0.317 0270 0 231 0 198 Q 170 0. 146 0. 125 0. 108 0.093 0.080 0.059 0.050 0.052 0.045 0.039 0.034 0.030 0.026 0.023 0490 0$16 0.350 0.296 0250 0 212 0. 180 0. 153 0. 130 0. 1 1 1 0.095 0.081 0.069 0.059 0.051 0.014 0.038 0.032 0.028 0.024 9.021 0.018 20 0. 475 0.396 0.331 0277 0 232 0 194 2. 164 0. 138 2. 1 16 0.098 0.083 0.070 0.060 0.051 0.043 0.037 0.031 0.027 0.023 0.020 0.017 0.014 0.456 0.377 0.312 0 258 0.215 0. 178 9149 0. 124 0. 104 0.087 0.073 0.061 0.051 0.043 0.037 0.031 0.026 0.022 0.019 9.016 0.014 0.012 21 22 0. 439 0.359 0.294 0242 0. 180 Q 164 0. 135 Q 1 12 0.093 0.077 0.064 0.053 0.044 0.037 0.031 0.026 0.022 0.018 0.015 0.013 9.011 0.009\\ 23 0.422 0. 342 0. 278 0.226 0.184 Q 150 0 123 Q 101 9.083 0.068 0.056 0.046 0.038 0.032 0.026 0.022 0. 018 0.015 0.013 0.011 0.009 0.007 0.406 0. 326 0.262 0211 0. 170 0. 138 2 1 12 0.091 0.074 0.060 0.049 0.040 0.033 0.027 0.022 0. 018 0.015 0.012 0. 010 0.009 0.007 0.008 25 0. 390 0.310 0247 0.197 0. 158 0. 126 0. 102 9.082 0.066 0.053 0.043 0.035 0.028 0.023 0.019 0.015 0.013 0.010 0.008 9.007 9.906 9.005) 0. 375 0.295 0.23:3 0. 184 0. 146 0. 1 16 0.092 0.074 0.059 0.047 0.038 0.030 0.024 0.020 0.016 0.013 0.010 0.009 0.007 0.006 0.005 0.004) 26 27 0.361 0.281 0.220 0. 172 0. 135 Q 106 dogs 9066 0.053 0.042 0.033 0.026 0.021 0.017 0.014 0.019 0.009 0.007 0.006 9.005 9.00# 9.003 28 0. 347 0.268 0.207 0. 161 0. 125 9098 9076 0.060 76 0.060 0.047 0.037 0.029 0.023 0.018 0.014 0.011 0.009 0.007 0.006 0.005 0.004 0.003 0.002 0.3:33 0.255 0. 196 0. 150 0 1 16 90so Qoss 0.054 0.042 0.033 0.026 0.020 0.016 0.012 0.010 0.008 0.006 0.005 0.004 0.003 9.002 0.002 0.321 0. 243 0.185 0. 141 Q 107 0.082 0.063 0.048 0.037 0.029 0.022 0.017 0.014 0.011 0.008 0.006 0.005 0.004 0.003 0.002 0.002 0.002 0.308 0.231 0.174 0. 131 0.080 0.075 0.057 0.044 0.033 0.026 0.020 0.015 0.012 0.009 0.007 0.005 0.004 0.003 0.003 0.002 9.002 0.001 40 0.208 0. 142 0.097 0.067 0.046 0.032 0.022 0.015 0.011 0.008 0.005 0.004 0.003 0.002 0.001 0.0 01 0.001 0.000 0.000 0.000 0.000 0.000* EXHIBIT 13 8 - 2) Present Value of an Amurky of $1 In Arrears. . 1 - 1-or !` Periods\\ 48 58 68 78 83 83 10* 118 128 138 145 158 168 178 183 198 203 218 228 238 248 25%\\ 0.052 0.052 0.943 0.935 0926 0.817 0909 0.901 0893 0.885 087 7 0870 0862 0.855 0 847 9840 0833 0826 0.820 0. 813 0.806 QBOO 1. 886 1 1. 859 1. 833 } $ 1.80 8\\ 2.775 } $ 2.723 2 18 1.783 1 . 759 1 . 736 1 . 713 1 . 690 1 . 868 1. 647 1.626 1 . 605 1 . 585 1. 5 6 6 1 .547 1.528 1.509 1. 492 1 , 47 4 1. 457 1. 440 A B W 3.630 } 13.546 3 2.673 2624 2 14 2577 2.531 2487 2.494 2.402 2.361 23:22 2 283 2:246 2.210 2.174 2140 2106 2.074 2.042 2.011 1.981 1.952 4.452 { 5 3.065 3.387 3:312 3.240 3. 170 3.102 3:037 2.974 2914 2855 2798 2.743 2.690 2639 2589 2540 2.494 2.498 2404 2362 4.329 4.212 4.100 3.993 3.690 3.791 3.696 3.605 3.517 3.433 3.352 3. 274 3.199 3.127 3.058 2991 2.926 2.864 2.803 2.745 2689 5. 242 5076 4.917 4.767 4623 4.486 4 355 4. 231 4. 1 1 1 3.998 3.8.89 3. 784 3.685 3.589 3. 498 3. 410 3. 326 3.245 3. 167 3.092 3.020 2951) 2 5.786 5 12 5.389 5 15.206 5.033 4.868 4. 712 4.569 4.423 4 28.8 4. 160 4.039 3.922 3.812 3. 706 3.605 3.508 3.416 3.327 3.242 2.161 6.733 6.463 6.210 5.971 5.747 5.535 5.3.35 5. 146 4.968 4.799 4639 4 487 4 349 4. 207 4.078 3.954 3.837 3.726 3.619 3.518 3.421 3.329\\ 10 7.435 7.108 6.802 6.515 6247 5.895 5.759 5.537 5.328 5. 132 4.946 4.7 72 4.607 4.451 4.303 4. 163 4.031 3.905 3.786\\ 8.111 7.722 7.360 7.024 6710 6.418 6.1 45 5.8.89 5. 650 5.426 5 216 5.019 4. 833 4.658 4. 494 4.3.39 4 192 4.054 3.923 3. 789 3.682 3.57 1 25 3.786 3.673 3.566 3.463 8.760 8.306 7 9.385 8 8.863\\ 7 .887 7.499 7 .139 6.805 6. 495 6.207 5.938 5.687 5. 453 5.234 5.029 4.836 4.656 1.486 4.327 4. 177 4.035 3.902 3.776 3.656 13 9. 986 { 10.563\\ 9.304 8 3 8.384 7.943 7.536 7.161 6.819 6.492 6. 194 5.918 5.660 5.421 5. 197 4. 988 4. 793 4611 4 439 4 278 4. 127 3.985 3.851 3.725 8.853 8.358 7 8.295 8.795 8 $ 7.904 7.487 7. 103 6.750 6. 424 6. 122 5.842 5.583 5.342 5. 118 4.910 4.715 4.533 4.362 4.203 4. 053 3.812 3.780 8244 7.786 7. 367 6.982 6.628 6.302 60.02 5. 724 5. 468 5.228 5.008 4.802 4611 4.432 4. 265 4. 108 3.862 3.824) 1 1. 1 18 10.3 80 9.712 9. 108 8.559 8.061 7.606 7 . 191 6.81 1 6.462 6. 142 5.847 5.575 5.324 5.092 4.876 4 675 4.489 4.315 4. 153 4.001 3.859 16 1 1. 652 10.838 10. 106 9.467 8.851 8.313 7.824 7.379 6.97 4 6.604 6 265 5.95 4 5.658 5.405 5. 162 4.938 4. 730 4.536 4. 357 4. 189 4033 3.8.87 18 12.166 1 1. 274 10.477 2.763 9.122 8.544 8.022 7. 549 7. 120 6.729 6.373 6047 5.749 5.475 5.272 4.980 4.775 4.576 4.391 4.219 4.059 3.910 12.659 1 1. 680 10.828 10.05% { 20 13. 134 12.085 1 1. 158 10.336 9 8:372 8.756 8. 201 7 . 702 7. 250 6. 840 6.467 6. 128 5.818 5.534 5.273 5.033 4.812 4.608 4. 419 4. 243 4.080 3.928 $ 9604 8.950 8.365 7.839 7 . 365 6.939 6:550 6. 198 5.877 5.584 5.316 5.070 4.843 4.635 4.442 4.263 4097 3.942 13.590 12.462 1 1. 470 10.594 9.818 8.129 8. 519 7.963 7.469 7. 025 6.623 6. 259 5.929 5.628 5.3:53 5. 101 4.870 4.657 4.460 4. 279 4. 1 10 2.954) 21 14.029 12.821 1 1 . 764 10.836 10:017 9.292 8.649 8.075 7.562 7. 102 6.687 6.312 5.973 5.665 5. 384 5. 127 4.891 4.675 4.476 4.202 4. 121 3.963 14.451 13. 163 12.042 1 1. 061 10 201 8,942 8. 7 72 8. 176 7.645 7. 170 6.743 6.359 601 1 5. 686 5. 410 5. 149 4808 4680 4 48 8 4. 302 4. 130 3.870Joanette, lnc., is considering the purchase of a machine that would cost $510,000 and would last for 5 years, at the end of which, the machine would have a salvage value of $61,000. The machine would reduce labor and other costs by $121,000 per year. Additional working capital of $7000 would be needed immediately, all of which would be recovered at the end of 5 years. The company requires a minimum pretax return of 17% on all investment projects. (Ignore income taxes.) Use Exhibit 133-1 and Exhibit 138-2 above to determine the appropriate discount factor(s). Required: Determine the net present value of the project. (Negative amount should be indicated by a minus sign. Round your intermediate calculations and final answer to the nearest whole dollar amount.) Net present value I The management of Winstead Corporation is considering the following three investment projects ( Ignore income taxes . ) : Project ] Project 2 Project 3 Investment required $ 82 , 400 $ 125, 900 $ 235, 500 Discounted value of cash inflows $ 90 , 064 $ 145 , 084 $ 258, 175 The only cash outflows are the initial investments in the projects . Required : Rank the investment projects using the project profitability index . Rank 1 project Rank 2 project Rank 3 projectBurns Corporation's net income last year was $98,300. Changes in the company's balance sheet accounts for the year appear below: Increases (Decreases) Asset and Contra-Asset Accounts: CaSh and cash equivalents $ 20,500 Accounts receivable $ 13,400 Inventory 39 ( 16,500) Prepaid expenses 39 4400 Long-term investments 19 10,300 Property, plant, and equipment 39 74,900 Accumulated depreciation $ 32,200 Liability and Equity Accounts: Accounts payable $ ( 18,700) Accrued liabilities $ 17,100 Income taxes payable 3; 4300 Bonds payable $ ( 64,800) Common stock 15 42,800 Retained earnings $ 94,100 The company did not dispose of any property, plant, and equipment, sell any long-term investments, issue any bonds payable, or repurchase any of its own common stock during the year. The company declared and paid a cash dividend of $4200. Required: No decimals are needed Complete the following Operating Activities schedule: Adjustments Depreciation Expense Change 1n $( 1 3,400) Change 111 Inventory Change in Prepaid Expenses $(4,400) Change in $ Change in Accrued Liabilities $ Change in Income Taxes Payable $4,300 Net Cash Provided by Operating Activities $