Martinez company's relevant range of production is 7,500 units to 12,500 units. When it produces and sells 10,000 units, its average cost per unit are as follows

direct materials $6.40
direct labor $3.90
variable manufacturing overhead $1.40
fixed manufacturing overhead $4.00
fixed selling expense $3.40
fixed administrative expense $2.10
sales commission $1.10
variable administrative expenses $0.55

11) if 8,000 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production?

total manufacturing over head cost-
manufacturing overhead per unit-

12) If 12,500 units are produced, what is the total amount of manufacturing overhead cost incurred to support this level of production? what is this total amount expressed on a per unit basis?

total manufacturing overhead cost-
manufacturing overhead unit-

13) if selling price is $22.40 per unit, what is the contribution margin per unit?

contribution margin per unit-

14) if 12,000 units are produced, what are the total amounts of direct and indirect manufacturing costs incurred to support this level of production?

total direct manufacturing cost-
total indirect manufacturing cost-

Sandra's Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.

a) Using FIFO, calculate cost of goods sold on October 31.

b) Using FIFO, calculate ending inventory on October 31.

c) Using LIFO, calculate cost of goods sold on October 31.

d) Using LIFO, calculate ending inventory on October 31

e) Calculate weighted-average cost per unit. (Round your answer to 2 decimal places.)

he income statement, balance sheets, and additional information for Virtual Gaming Systems are provided.

Additional Information for 2021:

1. Purchase additional investment in stocks for $80,000.

2. Sell land costing $47,500 for $55,000, resulting in a $7,500 gain on sale of land.

3. Purchase $15,000 in equipment by issuing a $15,000 long-term note payable to the seller. No cash is exchanged in the transaction.

4. Declare and pay a cash dividend of $105,000.

5. Issue common stock for $45,000.

  
Required:

Prepare the statement of cash flows using the indirect method. Disclose any noncash transactions in an accompanying note. (List cash outflows and any decrease in cash as negative amounts.)

19. (Mod. 6) ABC Hospital is a non-profit entity that does not have to pay income taxes. Management is considering buying an automated blood analysis machine that will significantly reduce the time a lab technician spends working on a blood sample. The machine will cost $80,000.00. Unfortunately, the machine’s operating life is somewhat short, and management expects it will be discarded (no salvage value) at the end of four years. During its four year operating life, however, expected savings in annual variable costs should amount to roughly $30,000.00 (measured at the end of each year). If it purchases the machine, the company will have to borrow the entire $80,000 at an annual interest rate of 8% (APR).

Complete and submit an EXCEL worksheet, showing your work, and answers highlighted in yellow,
(a) the present value of the expected overall savings in operating costs during the four years if the machine is purchased.
(b) the Internal Rate of Return on this investment.
(c) a narrative indicating whether, based on the calculations in (a) and (b), whether purchasing the machine makes sense.

Determine the best alternative among the options in the table below if the MARR is 6%.

a) Using Excel, construct a choice table for interest rates from 0% to 25% showing the NPV of each option for each interest rate using the NPV function. Based on the table, state the range of interest rates over which each option should be chosen.

b) Using Excel, plot the values for the three options for a rate interest ranging from 1% to 25%. This table will plot the NPV of each option as a function of interest rate. On the plot, label the internal rate of return for each option. Interpret the results of the graph.

c) In Excel, use the IRR function that you have to perform a rate of return analysis on the three options.The MARR=6%. Show the calculated values of each internal rate of return, expressed to 2 decimal places. Explain any decision to consider or reject an option.

Oaktree Company purchased new equipment and made the following expenditures: Purchase price $ 50,000 Sales tax 2,700 Freight charges for shipment of equipment 750 Insurance on the equipment for the first year 950 Installation of equipment 1,500 The equipment, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash. Required: Prepare the necessary journal entries to record the above expenditures. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Pretend it is early 2002 and you are Senator Paul Sarbanes.  What would you do differently when writing the Sarbanes-Oxley Act? (Do not say you think it is perfect and you would not do anything differently. Discuss at least two things you would do differently.please explain in detail.

In this problem, you will apply the concept of present value to find at what amount a bond payable should be recorded. I encourage you to use Excel to find the answer.

Company ABC needs $1,000,000 for an investment but does not have enough cash to finance the opportunity. After considering its options, ABC decides to finance the investment using debt. Unfortunately, ABC is unable to find a single creditor willing to lend it the entire $1,000,000. Instead, it finds four creditors each willing to lend it $250,000. All four lenders agree that they ought to earn 8% annual interest on their investment. However, each lender wants its $250,000 returned at a different point in time. One lender demands repayment after five years, the next ten years, the third fifteen years, and the final twenty years. ABC agrees to make annual payments totaling $12,000 to each lender while the principal balance of $250,000 is outstanding (for example, through years one through five for the first lender).

What is the value of the liability that Company ABC must record for the above financing plan? Round your answer to the nearest dollar.

Define in own words please

CHAPTER 6 – Accounting for Merchandising Businesses

1. Asset turnover
2. Cost of merchandise sold – (5 points extra – if you can tell me what this is also known as) You will hear this acronym more often than Cost of merchandise sold…
3. Credit memo
4. Credit terms
5. Debit memo
6. FOB (free on Board) destination
7. FOB (free on board) shipping point
8. Gross profit
9. Operating income
10. Invoice
11. Purchases discounts
12. Purchases returns and allowances
13. Sales discounts
14. Trade discounts
15. Administrative expenses (general expenses)

a company purchases inventory during the year in four batches, with unit and price amount shown below:

Batch 1 - 9,500 units @ $2.10 per unit
Batch 2 - 4,300 units @ $2.08 per unit
Batch 3 - 3,600 units @ $2.04 per unit
Batch 4 - 7,200 units @ $2.01 per unit

10,800 units were sold after Batch 2 was purchased, while 3,400 units were sold after Batch 3 was purchased.

1. calculate cost of goods sold and ending inventory under the LIFO method, using the perpetual inventory system.

2. Calculate cost of goods sold and ending inventory under the lifo method, using the periodic inventory system

Prepare a horizontal analysis of the balance sheet data for Nike, using 2019 as a base. (Show the amount of increase or decrease as well.)

b. Prepare a vertical analysis of the balance sheet data for Nike for 2020.

Prepare horizontal and vertical analyses.

E13.6 (LO 2) Here are the comparative income statements of Delaney Corporation.

Multiple-Step Income Statement and Report Form of Balance Sheet

The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019:

1. Prepare a multiple-step income statement.

2. Prepare a statement of owner's equity.

3. Prepare a balance sheet, assuming that the current portion of the note payable is $14,200.

4. Which type of income statement shows intermediate balances?

I think that I know some of these answers but I am concerned that I am getting the wrong answers.

Coverall Inc. produces and sells a unique type of case for a standard-size tablet computer that is guaranteed waterproof but still allows for regular functionality of the tablet. The company has just opened a new plant to manufacture these cases, and the following cost and revenue data have been provided for the first month of the plant’s operation in the form of a worksheet:

Since the new case is unique in design, management is anxious to see how profitable it will be and has asked that an income statement be prepared for the month.

Prepare a contribution format income statement for the month. (Do not leave any empty spaces; input a 0 wherever it is required.)

Ogilvy Company manufactures and sells one product. The following information pertains to each of the company’s first three years of operations:

The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Ogilvy produced 69,000 units and sold 69,000 units. During its second year of operations, it produced 69,000 units and sold 65,400 units. In its third year, Ogilvy produced 69,000 units and sold 72,600 units. The selling price of the company’s product is $59 per unit.

Required:

1. Assume the company uses super-variable costing:

a. Compute the unit product cost for Year 1, Year 2, and Year 3.

b. Prepare an income statement for Year 1, Year 2, and Year 3.

2. Assume the company uses a variable costing system that assigns $18 of direct labor cost to each unit produced:

a. Compute the unit product cost for Year 1, Year 2, and Year 3.

b. Prepare an income statement for Year 1, Year 2, and Year 3.

3. Reconcile the difference between the super-variable costing and variable costing net operating incomes in Years 1, 2, and 3.