• Q : Amount of total monthly car....
    Accounting Basics :

    JJ Motors Inc. employs 45 sales personnel to market their line of luxury automobiles. The average car sells for $23,000, and a 6 percent commission is paid to the salesperson.

  • Q : How to considering investing in a project....
    Accounting Basics :

    A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $455,580 and is expected to generate cash inflows of $180,000 each year for three years. T

  • Q : The bonds pay interest semiannually on september....
    Accounting Basics :

    On September 30, 2011, Ace Electronics issued $100,000 of 10-year, 8% bonds at 100. The bonds pay interest semiannually on September 30 and March 31.

  • Q : First mortgage payment will be used to reduce the principal....
    Accounting Basics :

    On January 1, 2011, Climax Corporation signed a $10,000,000, 6%, 10-year mortgage note to finance the construction of its new hotel in Cancun. The note will be repaid in 10 equal annual installments

  • Q : The initial investment in the project....
    Accounting Basics :

    In using the internal rate of return method, the internal rate of return factor was 4.0 and the equal annual cash inflows were $40,000. The initial investment in the project must have been?

  • Q : What would be the effect on the overall profit....
    Accounting Basics :

    Two products, IF and RI, emerge from a joint process. Product IF has been allocated $37,300 of the total joint costs of $58,000. A total of 3,200 units of product IF are produced from the joint proc

  • Q : How to use activity-based costing....
    Accounting Basics :

    Puget World, Inc., manufactures two models of television sets, the N 800 XL model and the N 500 model. Data regarding the two products follow: Direct Labor- Hours per Unit Annual Production.

  • Q : Discuss the labor rate variance for the month....
    Accounting Basics :

    What is the labor rate variance for the month? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required.

  • Q : Calculate the accrued salaries and wages on unadjusted....
    Accounting Basics :

    The salaries and wages were paid on Jan 4 2014 for the two weeks ended Dec 29 2013. Gross salaries were $ 55,000. The salaries and wages were paid in Jan 2013 for the year end pay period were $50,00

  • Q : Use of the new computer....
    Accounting Basics :

    Debra Manufacturing has identified that the cost of a new computer will be $120,000, but with the use of the new computer, net income will increase by $10,000 a year. If depreciation expense is $6,

  • Q : Explain the price per pound of direct materials purchased....
    Accounting Basics :

    The Wright Company has a standard costing system. The following data are available for September: Actual quantity of direct materials purchased 50,000 pounds Standard price of direct materials $ 4 p

  • Q : Explain the process units are produced....
    Accounting Basics :

    Whipple Company manufactures widgets. Cates Manufacturing has approached Whipple with a proposal to sell the company widgets at a price of $160,000 for 100,000 units.

  • Q : How much is the incremental cost or savings....
    Accounting Basics :

    The manufacturing overhead consists of $32,000 of costs that will be eliminated if the components are no longer produced by Whipple. From Whipple's point of view, how much is the incremental cost o

  • Q : Determine the amount of overhead assigned....
    Accounting Basics :

    Suppose the Luxury boat requires 4,750 machine hours, 285 inspections, and 57 batches. Using activity proportions, determine the amount of overhead assigned to the Luxury product line.

  • Q : Capacity to produce the additional units....
    Accounting Basics :

    Seasons Manufacturing manufactures a product with a unit variable cost of $100 and a unit sales price of $176. Fixed manufacturing costs were $480,000 when 10,000 units were produced and sold.

  • Q : Lakeside inc manufactures four lines of remote control....
    Accounting Basics :

    Lakeside Inc. manufactures four lines of remote control boats and uses activity-based costing to calculate product cost.

  • Q : Break-even point for the given sales mix....
    Accounting Basics :

    Mendel Paper Company produces four basic paper product lines at one of its plants: computer paper, napkins, place mats, and poster board. Materials and operations vary according to the line of produ

  • Q : Michele to achieve her investment requirement....
    Accounting Basics :

    In order to fund her retirement, Michele requires a portfolio with an expected return of 0.10 per year over the next 30 years. She has decided to invest in Stocks 1, 2, and 3, with 25 percent in Sto

  • Q : Discuss the additional information provided by dave....
    Accounting Basics :

    You are to work independently of the CLC Team, but use the CLC report being developed for Module 1 with the anticipation that your additional work will be merged with that of other staff (CLC) membe

  • Q : Compute the amount of funds ms. sudsberry....
    Accounting Basics :

    Determining amount to borrow and pro forma statement balances Athena Sudsberry owns a small restaurant in New York City. Ms. Sudsberry provided her accountant with the following summary information

  • Q : The units would need to be modified slightly for customers....
    Accounting Basics :

    Holtrop Corporation has received a request for a special order of 9,600 units of product Z74 for $47.10 each. The normal selling price of this product is $52.20 each, but the units would need to be

  • Q : Prepare the bank reconciliation for july 31....
    Accounting Basics :

    Branch's daily cash receipts of $11,514 were placed in the night depository on that date, but do not appear on the July 31 bank statement.

  • Q : Gross profit muscle construction....
    Accounting Basics :

    Muscle Construction signs a contract to build a classroom addition for Smallville High School. The total price for the addition is $800,000, and the initial cost estimate was $650,000.

  • Q : Compute the weighted-average number....
    Accounting Basics :

    The data below were taken from the accounting records of Fosel Inc. for 2006:Net income - $150,000;Income tax expense - 55,000;Interest expense - 35,000;Preferred stock dividends.

  • Q : What is the estimated cost of providing weekly payroll....
    Accounting Basics :

    This is an example of ABC for a service company. Costko Payroll Services provides weekly payroll processing for a number of small businesses.

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