Explain one type of bond to the group.  Examples (all usable, but no duplication) are junk bonds, mortgage bonds, bonds with sinking funds, equipment trust certificate, debentures, etc.  What advantages and disadvantages to each the issuer and the investor?

Cost of Goods Sold Budget

Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 23,400 barrels of oil for purchase in June for $70 per barrel. Direct labor budgeted in the chemical process was $180,200 for June. Factory overhead was budgeted at $294,800 during June. The inventories on June 1 were estimated to be:

The desired inventories on June 30 were:

Use the preceding information to prepare a cost of goods sold budget for June. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Key learnings - Perform research and reflect upon what happened to include some ideas or recommendations on what could have been done to reduce the severity and global impact of the 2008 crisis. Consider some key risks and related impact. Consider who was responsible, or who should have been more responsible (i.e. financial institutions, government, central banks, households, businesses).

Krepps Corporation produces a single product. Last year, Krepps manufactured 27,540 units and sold 22,200 units. Production costs for the year were as follows:

Sales totaled $1,098,900 for the year, variable selling and administrative expenses totaled $115,440, and fixed selling and administrative expenses totaled $176,256. There was no beginning inventory. Assume that direct labor is a variable cost.

Under variable costing, the company's net operating income for the year would be:

The following data relate to direct materials costs for February:

Materials cost per yard: standard, $1.90; actual, $2.05
Standard yards per unit: standard, 4.69 yards; actual, 5.05 yards
Units of production: 9,500

Calculate the direct materials price variance.

a.$6,683.25 favorable

b.$1,425.00 unfavorable

c.$7,196.25 favorable

d.$7,196.25 unfavorable

Payroll may seem like an easy area to review however there are many items to review for this function. Please share your thoughts on auditing payroll and payroll accruals, etc. How would you approach this and what are specific areas/items you would want to verify?

Menlo Company distributes a single product. The company’s sales and expenses for last month follow:

Required:

1. What is the monthly break-even point in unit sales and in dollar sales?

2. Without resorting to computations, what is the total contribution margin at the break-even point?

3-a. How many units would have to be sold each month to attain a target profit of $66,000?

3-b. Verify your answer by preparing a contribution format income statement at the target sales level.

4. Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms.

5. What is the company’s CM ratio? If sales increase by $89,000 per month and there is no change in fixed expenses, by how much would you expect monthly net operating income to increase?

Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company’s costs:

For example, electricity costs are $1,000 per month plus $0.07 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.90 per car washed.

The actual operating results for August appear below.

Required:

Complete the flexible budget performance report that shows the company’s activity variances and revenue and spending variances for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.) PLEASE SHOW WORK

Hello. Please answer all my all questions.

Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $23.95 per hundred square feet. However, there is some question about whether the company is actually making any money on jobs for some customers—particularly those located on remote ranches that require considerable travel time. The owner’s daughter, home for the summer from college, has suggested investigating this question using activity-based costing. After some discussion, she designed a simple system consisting of four activity cost pools. The activity cost pools and their activity measures appear below:

The total cost of operating the company for the year is $351,000 which includes the following costs:

Resource consumption is distributed across the activities as follows:

Job support consists of receiving calls from potential customers at the home office, scheduling jobs, billing, resolving issues, and so on.

Required:

1. Prepare the first-stage allocation of costs to the activity cost pools.
2. Compute the activity rates for the activity cost pools.
3. The company recently completed a 400 square foot carpet-cleaning job at the Flying N Ranch—a 51-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system.
4. The revenue from the Flying N Ranch was $95.80 (400 square feet @ $23.95 per hundred square feet). Calculate the customer margin earned on this job.

Holden Company issued the following bonds: Issue date – January 1, 2015. Maturity date – January 1, 2020. Par value – $100,000.

Market interest rate at time of issue – 10% annually. Stated interest rate – 9%. Issue price – $96,149. Interest paid – 4.5% semiannually, first on July 1, 2015.

Assume Dec. 31 is the fiscal year-end.

a. Prepare the journal entry to record the issuance of the bonds on Jan. 1, 2015.

b. Prepare the journal entries to record the interest expenses on July 1, 2015, and Dec. 31, 2015.

c. Prepare the journal entry to record the interest payment on Jan. 1, 2016.

DigitalWave startups had a maximum pie of the private equity and venture capital (PE/VC) funding last year. Discuss how arranging venture capital from the venture capitalist differs from Equity financing.

Plz answer in more than 500 words if possible.

Munoz Manufacturing Corporation was started with the issuance of common stock for $70,000. It purchased $7,900 of raw materials and worked on three job orders during 2019 for which data follow. (Assume that all transactions are for cash unless otherwise indicated.)

Factory overhead is applied using a predetermined overhead rate of $0.60 per direct labor dollar. Jobs 2 and 3 were completed during the period and Job 3 was sold for $11,160 cash. Munoz paid $400 for selling and administrative expenses. Actual factory overhead was $5,160.

Required

1. Record the preceding events in a horizontal statements model. The first event for 2019 has been recorded as an example.

2. Reconcile all subsidiary accounts with their respective control accounts.

3. Record the closing entry for over- or underapplied manufacturing overhead in the horizontal statements model, assuming that the amount is insignificant.

4. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2019.

34) During the current year, LaVone recognizes a $30,000 Sec. 1231 gain on sale of land and a $18,000 Sec. 1231 loss on the sale of land. Prior to this, LaVone's only Sec. 1231 item was a $14,000 loss six years ago. LaVone must report a

A) $12,000 net LTCG.

B) $12,000 ordinary income.

C) $14,000 ordinary income.

D) $10,000 ordinary income and $2,000 net LTCG.

35) Sec. 1231 property will generally have all the following characteristics except

A) real or depreciable property.

B) used in trade or business.

C) held for sale to customers.

D) held for more than one year.

36) During the current year, Hugo sells equipment for $150,000. The equipment cost $175,000 when placed in service two years ago, and $55,000 of depreciation deductions were allowed. The results of the sale are

A) LTCG of $30,000.

B) Sec. 1231 gain of $30,000.

C) Sec. 1245 ordinary income $30,000.

D) Sec. 1250 ordinary income of $30,000.

The Polaris Company uses a job-order costing system. The following transactions occurred in October:

a.Raw materials purchased on account, $209,000.

b.Raw materials used in production, $192,000 ($153,000 direct materials and $38,400 indirect materials).

c.Accrued direct labor cost of $49,000 and indirect labor cost of $20,000

d.Depreciation recorded on factory equipment, $105,000.

e.Other manufacturing overhead costs accrued during October, $130,000.

f.The company applies manufacturing overhead cost to production using a predetermined rate of $9 per machine-hour. A total of 76,400 machine-hours were used in October.

g.Jobs costing $513,000 according to their job cost sheets were completed during October and transferred to Finished Goods.

h.Jobs that had cost $449,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 32% above cost.

Required SHOW ALL WORK:

1.Prepare journal entries to record the transactions given above.

2.Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $36,000.

25. In accounting for research and experimental expenditures incurred in 2018, all of the following alternatives are available with the exception of

A) expense R&E costs in the year in which a product or process becomes marketable.

B) expense R&E costs in the year paid or incurred.

C) defer and amortize R&E costs as a ratable deduction over a period of 60 months or more.

D) capitalize and write off R&E costs only when the research project is abandoned or is worthless.

26. Green Corporation purchases specialty software from a software development firm for use in its business as of January 1 of the current year at a cost of $90,000. No hardware was acquired. How much of the cost can Green deduct this year?

A) $30,000

B) $45,000

C) $60,000

D) $90,000

27. In calculating depletion of natural resources each period,

A) cost depletion must be used.

B) percentage depletion must be used.

C) the smaller of cost depletion or percentage depletion must be used.

D) the greater of cost depletion or percentage depletion must be used.