At the end of the year, a company offered to buy 4,450 units of a product from X Company for a special price of $11.00 each instead of the company's regular price of $17.00 each. The following information relates to the 62,400 units of the product that X Company made and sold to its regular customers during the year:

Fixed cost of goods sold for the year were $142,272, and fixed period costs were $83,616. Variable period costs include selling commissions equal to 3% of revenue.

6. Profit on the special order is

7. Assume the following two changes for the special order: 1) variable cost of goods sold will decrease by $0.78 per unit, and 2) there will be no selling commissions. What would be the effect of these two changes on the special order profit?

8. There is concern that regular customers will find out about the special order, and X Company's regular sales will fall by 950 units. As a result of these lost sales, X Company's profits would fall by

Please show formulas used w/ numbers.

On December 31, 2017, Berclair Inc. had 400 million shares of common stock and 6 million shares of 9%, $100 par value cumulative preferred stock issued and outstanding. On March 1, 2018, Berclair purchased 30 million shares of its common stock as treasury stock. Berclair issued a 5% common stock dividend on July 1, 2018. Five million treasury shares were sold on October 1. Net income for the year ended December 31, 2018, was $650 million.

Required:

Compute Berclair's earnings per share for the year ended December 31, 2018. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

A. Explain how to address compliance with Government Accounting Standards (GAS) in nonprofit and governmental financial statements. Support your response with academic source(s).

B. Explain how the analysis of nonprofit and governmental financial statements differs from analysis of traditional financial statements. Provide academic examples to support your response.

C. Compose example financial statements for your company as a nonprofit entity and as a governmental entity. Ensure all information is entered accurately and the statements are compliant with GAS.

In an analysis by the Association of Certified Financial Crime Specialists (ACFCS) about the Autonomy merger with HP, the following statement is made: “The scandal is prompting questions about who is to blame for the soured merger. As details emerge, the case is spotlighting the difficulties that accountants and lawyers face in complex mergers and acquisitions and business deals. The case also raises the issue of what responsibility these professionals have for detecting potentially fraudulent business records where the line between accounting discrepancies and financial crime is blurred.”

Given the facts of the case, do you believe Deloitte met its obligations with regard to due care and professional judgment? Explain. Meg Whitman is quoted in the case as saying that the board, which approved the Autonomy transaction, relied on audited information from Deloitte & Touche and additional auditing from KPMG. Given that auditing standards and legal requirements dictate that auditors are responsible for detecting material fraud in the financial statements of audit clients, would you blame the auditors for failing to uncover the improper accounting for revenue at Autonomy? Which audit and ethical standards are critical in making that determination?

Do you believe a conflict of interest exists when audit firms earn about as much money from nonaudit services as audit services, given they are expected to make independent judgments on the financial transactions and financial reporting of their audit clients? Explain by using the Autonomy case as one such example of a possible conflict.

Tower Company owned a service truck that was purchased at the beginning of 2018 for $47,000. It had an estimated life of three years and an estimated salvage value of $5,000. Tower company uses straight-line depreciation. Its financial condition as of January 1, 2020, is shown in the following financial statements model. Assets = Equity Revenue − Expense = Net Income Cash Flow Cash + Machine − Accumulated Depreciation = Common Stock + Retained Earnings 35,000 + 47,000 − 33,000 = 19,000 + 30,000 NA − NA = NA NA In 2020, Tower Company spent the following amounts on the truck: Jan. 4 Overhauled the engine for $7,500. The estimated life was extended one additional year, and the salvage value was revised to $4,000. July 6 Obtained oil change and transmission service, $400. Aug. 7 Replaced the fan belt and battery, $500. Dec.31 Purchased gasoline for the year, $9,000. 31 Recognized 2018 depreciation expense. Required a. Record the 2020 transactions in a statements model like the preceding one. (In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change and NA for not affected. Round your answers to the nearest dollar amount. Enter any decreases to account balances with a minus sign.)

All I need now is the last row for 12/31

Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Three services are provided for seniors—home nursing, Meals On Wheels, and housekeeping. Data on revenue and expenses for the past year follow:

*Allocated on the basis of program revenues.

The head administrator of Jackson County Senior Services, Judith Miyama, considers last year’s net operating income of $48,600 to be unsatisfactory; therefore, she is considering the possibility of discontinuing the housekeeping program.

The depreciation in housekeeping is for a small van that is used to carry the housekeepers and their equipment from job to job. If the program were discontinued, the van would be donated to a charitable organization. None of the general administrative overhead would be avoided if the housekeeping program were dropped, but the liability insurance and the salary of the program administrator would be avoided.

Required:

1-a. What is the financial advantage (disadvantage) of discontinuing the Housekeeping program?

1-b. Should the Housekeeping program be discontinued?

2-a. Prepare a properly formatted segmented income statement.

2-b. Would a segmented income statement format be more useful to management in assessing the long-run financial viability of the various services?

I would like you do identify a publicly traded manufacturing company. BY publicly traded it means they have stock traded on an exchange such as the New York Stock Exchange. I would then like you to research a product they manufacture. Based on what you have found would they use process costing or job order costing. Why did you select the method they did. Please be sure to integrate terms and concepts you learned about in week three and four as you describe the cost accounting system they might use

Break-Even Sales Under Present and Proposed Conditions

Kearney Company, operating at full capacity, sold 163,500 units at a price of $60 per unit during 20Y5. Its income statement for 20Y5 is as follows:

The division of costs between fixed and variable is as follows:

Management is considering a plant expansion program that will permit an increase of $780,000 (13,000 units at $60 per unit) in yearly sales. The expansion will increase fixed costs by $104,000, but will not affect the relationship between sales and variable costs.

Instructions:

1. Determine for 20Y5 the total fixed costs and the total variable costs.

2. Determine for 20Y5 (a) the unit variable cost and (b) the unit contribution margin.

3. Compute the break-even sales (units) for 20Y5.
units

4. Compute the break-even sales (units) under the proposed program.
units

5. Determine the amount of sales (units) that would be necessary under the proposed program to realize the $3,550,000 of income from operations that was earned in 20Y5.
units

6. Determine the maximum operating income possible with the expanded plant.
$

7. If the proposal is accepted and sales remain at the 20Y5 level, what will be the operating income or loss for 20Y6?
$  

8. Assuming a lack of market research, disadvantages for expanding the plant include all of the following except:

1. The break-even point increases.
2. The sales necessary to maintain the current income from operations must increase in excess of 20Y5 sales.
3. If future sales remain at the 20Y5 level, the income from operations will decline.
4. The maximum income from operations possible with the expanded plant is less than the current income from operations.

Bachmann Products, Inc., has found that new products follow a learning curve. The first two units have been completed with the following results:

How much time will be needed to complete the 8^th unit?

62.00 hours.

39.20 hours.

32.00 hours.

27.44 hours.

Generators R Us (GRU) is a leading manufacturer of partible electric generators used for emergency power supply in both civil and private disaster situations. Each year it produces 16,000 of its model HI-360 units. This model used two bearings, which the company purchases from an outside vendor. A review of accounting and usage records reveals the following information:

labour for installing the bearings = $8 per generator;

• per-unit cost of bearings = $25;

• delivery charges per order = $5;

• processing costs per order = $6;

• mailing expenses per order = $2; and

• the estimated cost of carrying one bearing in inventory for the ear = $0.35.

GRU also found that on average four days elapse between the time an order is placed and the time items are received. Required: a) Compute the economic order quantity. b) Compute the reorder point. Assume that the HI-360 model is manufactured for 350 days each year

On January 1, 2018, Baddour, Inc., issued 10% bonds with a face amount of $160 million. The bonds were priced at $140 million to yield 12%. Interest is paid semiannually on June 30 and December 31. Baddour’s fiscal year ends September 30.

Required:
1. What amount(s) related to the bonds would Baddour report in its balance sheet at September 30, 2018?
2. What amount(s) related to the bonds would Baddour report in its income statement for the year ended September 30, 2018?
3. What amount(s) related to the bonds would Baddour report in its statement of cash flows for the year ended September 30, 2018? In which section(s) should the amount(s) appear?
(For all requirements, Enter your answers in whole dollars.)
On January 1, 2018, Baddour, Inc., issued 10% bonds with a face amount of $160 million. The bonds were priced at $140 million to yield 12%. Interest is paid semiannually on June 30 and December 31. Baddour’s fiscal year ends September 30.

Required:
1. What amount(s) related to the bonds would Baddour report in its balance sheet at September 30, 2018?
2. What amount(s) related to the bonds would Baddour report in its income statement for the year ended September 30, 2018?
3. What amount(s) related to the bonds would Baddour report in its statement of cash flows for the year ended September 30, 2018? In which section(s) should the amount(s) appear?
(For all requirements, Enter your answers in whole dollars.)

On January 1, 2018, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:
     

Required:
1. What is the face amount of the bonds?
2. What is the initial selling price of the bonds?
3. What is the term to maturity in years?
4. Interest is determined by what approach?
5. What is the stated annual interest rate?
6. What is the effective annual interest rate?
7. What is the total cash interest paid over the term to maturity?
8. What is the total effective interest expense recorded over the term to maturity?

The work in process inventory account of a manufacturing company that uses and overhead rate based on direct labor cost has a $9,873 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $3,300 and direct labor cost of $2,100. Therefore, the company's overhead application rate is:

A. 64% of direct labor cost

B. 136% of direct labor cost

c. 157% of direct labor cost

D. 213% of direct labor cost

E. 47% of direct labor cost

Hillsong Inc. manufactures snowsuits. Hillsong is considering purchasing a new sewing machine at a cost of $2.45 million. Its existing machine was purchased five years ago at a price of $1.8 million; six months ago, Hillsong spent $55,000 to keep it operational. The existing sewing machine can be sold today for $242,097. The new sewing machine would require a one-time, $85,000 training cost. Operating costs would decrease by the following amounts for years 1 to 7:

The new sewing machine would be depreciated according to the declining-balance method at a rate of 20%. The salvage value is expected to be $380,900. This new equipment would require maintenance costs of $97,800 at the end of the fifth year. The cost of capital is 9%.

Click here to view PV table.

Use the net present value method to determine the following: (If net present value is negative then enter with negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round present value answer to 0 decimal places, e.g. 125. For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

Calculate the net present value.

Determine whether Hillsong should purchase the new machine to replace the existing machine?