First part of question. Second will come through now.

Diversified Products, Inc., has recently acquired a small publishing company that offers three books for sale—a cookbook, a travel guide, and a handy speller. Each book sells for $10. The publishing company’s most recent monthly income statement is shown below.

Please see the url, for the second part of the question.

https://www.chegg.com/homework-help/questions-and-answers/second-part-question-following-additional-information-available-printing-costs-sales-commi-q38920042?trackid=jHh8sqog

I am not sure, but did you get the information for the second part of the question?

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year-end December 31 follow.

2a. What is the amount of income from continuing operations before income taxes?
2b. What is the amount of the income tax expense?
2c. What is the amount of income from continuing operations?

Assume that the company’s income tax rate is 30% for all items.

Tanek Corp.’s sales slumped badly in 2017. For the first time in its history, it operated at a loss. The company’s income statement showed the following results from selling 575,500 units of product: sales $2,877,500, total costs and expenses $2,992,600, and net loss $115,100. Costs and expenses consisted of the amounts shown below.

Management is considering the following independent alternatives for 2018.

(a) Compute the break-even point in dollars for 2017. (Round final answer to 0 decimal places, e.g. 1,225.)

(b) Compute the contribution margin under each of the alternative courses of action. (Round final answer to 0 decimal places, e.g. 1,225.)

Compute the break-even point in dollars under each of the alternative courses of action. (Round selling price per unit to 2 decimal places, e.g. 5.25 and other calculations to 0 decimal places, e.g. 20% and also final answer to 0 decimal places, e.g. 1,225.)

Which course of action do you recommend?

Your company has the sales for year 1 below. You want to select from one of three models for forecasting: a three-month moving average, a weighted moving average (you believe that the weights should be 0.2, 0.3, and 0.5), and an exponential smoothing average in which you use an alpha of 0.2 and an assumed forecast for January of year one of $35,000. Determine sales forecast for January year 2 and calculate MAD.


Jan Yr 1 34284
Feb 34000
Mar 31017
Apr 33406
May 34518
Jun 35469
Jul 35360
Aug 34894
Sep 34547
Oct 31015
Nov 31167
Dec 32925

A) Three-month moving average:
Sales forecast: $  
MAD:  

B) Weighted moving average:
Sales forecast: $  
MAD:  

C) Exponential moving average:
Sales forecast: $  
MAD:  

Which forecasting method should you use for your company? (enter A, B, C):

Exchange Corp. is a company that acts as a facilitator in tax-favored real estate swaps. Such swaps, know as 1031 exchanges, permit participants to avoid some or all of the capital gains taxes that would otherwise be due. The bookkeeper for the company has been asked to prepare a report for the company to help its owner/manager analyze performance. The first such report appears below:

Note that the revenues and costs in the above report are unit revenues and costs. For example, the average office expense is $257 per exchange completed on the planning budget; whereas, the average actual office expense is $135 per exchange completed.  

Legal and search fees is a variable cost; office expenses is a mixed cost; and equipment depreciation, rent, and insurance are fixed costs. In the planning budget, the fixed component of office expenses was $5,050.

All of the company’s revenues come from fees collected when an exchange is completed.

Required:  

1. Is the report prepared by the bookkeeper useful as a performance report?

2. Complete a performance report that would help the owner/manager assess the performance of the company in May. (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.)

Write a 350- to 700-word paper comparing the impacts of fraudulent financial statements, asset misappropriation and corruption on the organization.

Include the following:

• How does each type of fraud impact the organization?
• Consider the relative frequency.

Please help. I have been sick all week and having trouble finding the energy to get all my course work done. Also, I need it to include at least one reference.

in the fourth quarter of last year, Colditz Company embarked on a major effort to improve productivity. It redesigned products, reengineered manufacturing processes, and offered productivity improvement courses. The effort was completed in the last quarter of the current year. The controller’s office has gathered the following year-end data to assess the results of this effort:

Required

1. Prepare a summary contribution income statement for each of the 2 years, and calculate the change in operating income.

2. Compute the partial operational productivity ratios for each production factor in each year.

3. Compute the partial financial productivity ratios for each production factor in each year.

Your firm is the auditor of Pinkglow Ltd, a manufacturer. You have obtained a summary of the property, plant and equipment for the year ended 30 June 2018, which identifies cost and accumulated depreciation brought forward, additions and disposals in the year and depreciation charges. A review of the management letter from the previous year’s audit shows that there were some problems in relation to making a distinction between capitalisation and expenses; some items were capitalised when they should have been expensed and other capital items were included in repairs and maintenance in the income statement. Another risk identified from prior years relates to depreciation calculations; there is a range of depreciation rates within categories and there has been a concern that the rates applied to some assets have been too low. The depreciation policy disclosed in the financial report shows: •

buildings: 2–4% straight-line • plant and machinery: 5–10% straight-line • fixtures fittings and equipment: 5–20% straight line.

Required: Describe audit procedures to ensure: a) the accuracy of the summary of property plant and equipment b) all items of capital expenditure are included in additions for the year and that no expenses have been capitalised c) the depreciation rates are calculated appropriately. (this is auditing question but i could not find auditing in subject list so i choose finannce)

Sullivan's Island Company began operating a subsidiary in a foreign country on January 1, 2017, by investing capital in the amount of 55,000 pounds. The subsidiary immediately borrowed 136,000 pounds on a five-year note with 10 percent interest payable annually beginning on January 1, 2018. The subsidiary then purchased for 191,000 pounds a building that had a 10-year expected life and no salvage value and is to be depreciated using the straight-line method. Also on January 1, 2017, the subsidiary rented the building for three years to a group of local attorneys for 7,500 pounds per month. By year-end, rent payments totaling 75,000 pounds had been received, and 15,000 pounds was in accounts receivable. On October 1, 4,400 pounds was paid for a repair made to the building. The subsidiary transferred a cash dividend of 11,800 pounds back to Sullivan's Island Company on December 31, 2017. The functional currency for the subsidiary is the pound. Currency exchange rates for 1 pound follow:

Prepare a statement of cash flows in pounds for Sullivan's Island Company's foreign subsidiary and then translate these amounts into U.S. dollars

Income Statement

Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost, Unit Cost

On August 1, Cairle Company’s work-in-process inventory consisted of three jobs with the following costs:

During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows:

Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold.

Cairle’s selling and administrative expenses for August were $1,300. Assume that Cairle prices its jobs at cost plus 25 percent.

Required:

Prepare an income statement for Cairle Company for August.

Feedback

True/False–Circle the best

TF 1. Multiple overhead rates may be applied to give more accurate product costs if departments consume resources differently.

TF 2.In a job-order cost sheet only the totals by cost component are recorded.

TF 3. In a process costing system, there is a separate Work-in-Process account for each process.

TF 4.Service firms cannot use a process costing approach because services are never homogeneous or repetitive.

TF 5. There is no difference in the unit costs computed under the weighted average and FIFO methods of process costing if there are no beginning work-in-process inventories.

TF6. Under the weighted average method, the equivalent units in the production report relate only to work done during the current period.

TF 7. In a process costing system, the costs of one processing department become the transferred-in costs of the next processing department.

TF 8. Theoretically speaking, the weighted average method in a process costing method provides a more realistic calculation of the costs incurred in a given period.

TF 9.The operation costing method assigns direct labor costs using the procedures of the process costing method

Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present, the ball is manufactured in a small plant that relies heavily on direct labor workers. Thus, variable expenses are high, totaling $15.00 per ball, of which 60% is direct labor cost.

Last year, the company sold 42,000 of these balls, with the following results:

Required:

1. Compute (a) last year's CM ratio and the break-even point in balls, and (b) the degree of operating leverage at last year’s sales level.

2. Due to an increase in labor rates, the company estimates that next year's variable expenses will increase by $3.00 per ball. If this change takes place and the selling price per ball remains constant at $25.00, what will be next year's CM ratio and the break-even point in balls?

3. Refer to the data in (2) above. If the expected change in variable expenses takes place, how many balls will have to be sold next year to earn the same net operating income, $154,000, as last year?

4. Refer again to the data in (2) above. The president feels that the company must raise the selling price of its basketballs. If Northwood Company wants to maintain the same CM ratio as last year (as computed in requirement 1a), what selling price per ball must it charge next year to cover the increased labor costs?

5. Refer to the original data. The company is discussing the construction of a new, automated manufacturing plant. The new plant would slash variable expenses per ball by 40.00%, but it would cause fixed expenses per year to double. If the new plant is built, what would be the company’s new CM ratio and new break-even point in balls?

6. Refer to the data in (5) above.

a. If the new plant is built, how many balls will have to be sold next year to earn the same net operating income, $154,000, as last year?

b. Assume the new plant is built and that next year the company manufactures and sells 42,000 balls (the same number as sold last year). Prepare a contribution format income statement and Compute the degree of operating leverage.

A medium-sized industrial grade compressor can be purchased for $35,000. Annual O&M costs are expected to increase $1,300 every year, with a 1st year O&M cost of $2,000. (MARR =16%, and planning horizon is 10 years)

• The compressor salvage value for a given period t, is calculated based on the following equation: Salvage value (t) = $30,000– $3,000 * t

a) Find the Optimum Replacement Interval for this Equipment

b) Find the Optimum Replacement Interval for this Equipment if the O&M costs is increased to $1,600/yr. What is your conclusion?

c) Find the Optimum Replacement Interval for this Equipment if the initial cost is reduced to $32,000. What is your conclusion?

Consider the balance sheet of the following bank.

                                           Chase

     ------------------------------------------------------------------------------

     Reserves        3000       Checkable Deposits      5000

     Loans             7000       Savings and Time Deposits 8000  

     Bond Holdings      4000      Equity               1000

     Using balance sheets, show all the balance sheet steps of Chase making a loan of $1000. Provide a brief explanation for each step and assume that the loan check is re-deposited in another bank (provide a balance sheet for that bank as well). Verify how the money supply (M2) changes as a result

Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,000 shares of cumulative preferred 3% stock, $15 par, and 401,400 shares of $24 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $55,700 ; second year, $78,000 ; third year, $78,900 ; fourth year, $98,300.

Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".