Fish Fillet Incorporated obtains fish and then processes them into frozen fillets and then prepares the frozen fish fillets for distribution to its retail sales department. Direct materials are added at the initiation of the cycle. Conversion costs are incurred evenly throughout the production cycle. Before​ inspection, some fillets are spoiled due to undetectable defects. Inspection occurs when units are​ 40% converted. Spoiled fillets generally constitute​ 6% of the good fillets. Data for April 2017 are as​ follows: ​WIP, beginning inventory​ 4/1/2017 ​ 85,000 fillets         Direct materials​ (100% complete)         Conversion costs​ (50% complete) Started during April ​134,000 fillets Completed and transferred out​ 4/30/2017 ​183,000 fillets ​WIP, ending inventory​ 4/30/2017 ​24,000 fillets         Direct materials​ (100% complete)         Conversion costs​ (25% complete) Costs for​ April:    ​ WIP, beginning​ Inventory:         Direct materials ​$140,000         Conversion costs ​105,910     Direct materials added ​309,000     Conversion costs added ​390,130 What cost is allocated to abnormal spoilage using the weightedaverage processcosting ​method? (Round any cost per unit calculations to the nearest​ cent.)

Suppose you win the lottery when the jackpot amount is $162 million. You can receive the jackpot amount paid out evenly over 26 years or you can elect to take an immediate payment of $95 million, before taxes. Ignore all tax effects. Considering this scenario, which option is most advantageous and why? (Be specific as to any calculations performed.) What other factors should be considered in making your decision?

Important Note: Please be sure your response is based on our course concepts: the time value of money. Your post should include calculations for both payout options using the time value of money, explain your assumptions, and interpret the results of your calculations. You may also discuss any and all other factors that will impact the decision as to which type of payout option you would choose but only after you have completed the calculations necessary to support your response.

Purchase-Related Transactions

The debits and credits from four related transactions are presented in the following T accounts.

Describe each transaction.

How defined benefit, defined contribution, and postretirement benefit plans are reported on financial statements?

The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers. Also note that the company uses a clearing house to take care of all bank as well as non-bank credit cards used by its customers.

Record on page 10 of the journal

Record on page 11 of the journal

Journalize the entries to record the transactions of Amsterdam Supply Co. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTS

Amsterdam Supply Co.General Ledger

The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2018:

Grandma's Attic Company produces soft pillows made from goose down. The company uses a standard cost system and has set the following standards for materials and labour for each pillow:
Feathers from 5 large white geese (5 geese @ R5) R25
Fabric to make pillowcases (3 metres @ R2) R6
Direct labour (5 hours @ R8) R40
Total prime cost R71
During the month, the company produced 1000 goose down pillows. Actual geese purchased were 5100, at R4 per goose. Actual fabric purchased was 2900 metres at R2.10 per metre. There was no beginning or ending inventory of geese or fabric. Actual direct labour was 5200 hours at R7.75 per hour.
Required
1. Determine the total materials price variance and whether it is favourable or unfavourable. (5)
2. Determine the total materials usage variance and whether it is favourable or unfavourable. (5)
3. Determine the labour rate variance and whether it is favourable or unfavourable. (3)
4. Determine the labour efficiency variance and whether it is favourable or unfavourable.

Williams Ltd manufactures and sells a single product. The selling price is R18. The following information relates to its yearly production and cost data. (Assume that there is no change to the stock level of the company.)
Unit Total
Year Volume Cost R
1 300 000 4 000 000
2 150 000 2 800 000
3 420 000 6 600 000
4 280 000 3 900 000
5 230 000 3 200 000
6 120 000 2 100 000
Required:
1. Based on the above cost and volume data, use the high–low method to identify variable cost per unit and annual fixed costs for the company.
5 marks
2. On the basis of your answers in part (1) above, calculate the breakeven point of the company in both units and sales revenue.

Comfort Corporation manufactures and sells various types of chairs. The below are the costing details of a chair model, namely, Curver:

• Variable manufacturing cost per unit = $60
• Total fixed manufacturing cost for the year = $1,500,000
• Variable selling and administrative expense per unit sold = $5
• Total fixed selling and administrative cost for the year = $230,000
• Predetermined overhead rate being computed based on the expected production of 100,000 units

The selling price for the chairs was $150 each.

1. If Comfort used the normal absorption costing method with all over/under-applied of fixed manufacturing costs directly written off to cost of goods sold, what would be the net operating income on the sale of Curver in its first year when 120,000 chairs being produced instead of the 100,000 expected production? Comfort managed to sell 100,000 chairs.
2. Based on your answer for Question 5, what would have been the difference in profit if the variable costing format was used instead? A complete variable income statement is not required.
3. If the company had used absorption costing and the actual costing system, what would have been Comfort's net operating income in its first year if 12,000 chairs had been produced instead of 10,000 and Comfort still sold 10,000 chairs?
4. Using variable costing method only, compare the net operating income difference if the company only sold 90,000 chairs instead of 100,000 chairs?

Select a publicly-traded company and access the company’s most recent annual report (select the “Investors” menu item). Locate the notes to the financial statements and identify the information topics disclosed in these footnotes and explain the reasons for disclosure. Please no answer that has already been listed Thanks and cite if needed, please?

Select a publicly-traded company (the home depot inc.) and access the company’s most recent annual report (select the “Investors” menu item). Locate the notes to the financial statements and identify the information topics disclosed in these footnotes and explain the reasons for disclosure. Please no answer that has already been listed Thanks and cite if needed, please?

Companies where IT is an important part of their product offerings presumably also have a sales force that is well versed in technology. Why is it then necessary to take the CIO along on customer visits? Discuss

1. How companies account for defined benefit, defined contribution, and postretirement benefit plans?

Question 1
Norway (Pty) Ltd is a divisionalised company, where the divisional managers’ remuneration packages are linked to the return on investment of their divisions. Return on investment is based on the net book value of assets employed in the division at the beginning of the financial year. On average, divisional managers remain in their posts for a three-year period.
The manager of the Scandinavian division is considering two mutually exclusive alternative proposals for investing in new machinery. These proposals both involve an initial outlay of R250 000, but will yield different levels of savings over the life of the machinery, which is estimated at five years, after which they will have no residual value. Norway (Pty) Ltd ‘s depreciation, is calculated on a straight-line basis.
The savings will give rise to increased cash flows as follows:
Year
Machine
A
Cash flows
B
Cash flows
1
80 000
100 000
2
80 000
90 000
3
80 000
80 000
4
100 000
60 000
5
100 000
40 000
Required:
1. Appraise each project, using
a) return on investment, as described above
b) net present value, using the company’s cost of capital of 6%
15 marks
Based on your results from (1), explain which machine the divisional manager is likely to choose and discuss the potential conflict between performance measurement and investment appraisal.

Outose Concept manufactures small tables in its Processing Department. Direct materials are added at the initiation of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Before inspection, some units are spoiled due to undetectable materials defects. Spoiled units generally constitute 44% of the good units.

Data for December 2017 are as follows:

WIP, beginning inventory 12/1/2017 22,700 units

    Direct materials (100% complete)

 Conversion costs (75% complete)

Started during December 77,000 units

Completed and transferred out 12/31/2017 72,900 units

WIP, ending inventory 12/31/2017 18,000 units

  Direct materials (100% complete)

     Conversion costs (70% complete)

Costs for December:     

WIP, beginning Inventory:  

   Direct materials $152,000

Conversion costs 77,200

Direct materials added 232,400

   Conversion costs added 296,000

What is the total cost per equivalent unit using the weighted−average method of process costing? (Round any cost per unit calculations to the nearest cent.)