Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments:

The cost of beginning inventory according to the company’s costing system was $7,875 of which $4,849 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $180,742. The costs per equivalent unit for the month were:

Required:

1. Compute the total cost per equivalent unit for the month.

2. Compute the equivalent units of material and conversion in the ending inventory.

3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory.

4. Compute the number of units started and completed during the month.

5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month.

6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month.

1)

Compute the total cost per equivalent unit for the month. (Round your answer to 2 decimal places.)

2)

Compute the equivalent units of material and conversion in the ending inventory.

3)

Compute the equivalent units of material and conversion that were required to complete the beginning inventory.

4)

Compute the number of units started and completed during the month.

5)

Compute the cost of ending work in process inventory for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.)

6)

Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month. (Round your intermediate calculations to 2 decimal places.)

ABC-A Service Application
Grand Haven is a senior living community that offers a full range of services including independent living, assisted living, and skilled nursing care. The assisted living division provides residential space, meals, and medical services (MS) to its residents. The current costing system adds the cost of all of these services (space, meals, and MS) and divides by total resident days to get a cost per resident day for each month. Recognizing that MS tends to vary significantly among the residents, Grand Haven's accountant recommended that an ABC system be designed to calculate more accurately the cost of MS provided to residents. She decided that residents should be classified into four categories (A, B, C, D) based on the level of services received, with group A representing the lowest level of service and D representing the highest level of service. Two cost drivers being considered for measuring MS costs are number of assistance calls and number of assistant contacts. A contact is registered each time an assistance professional provides medical services or aid to a resident. The accountant has gathered the following data for the most recent annual period:

a. Determine the ABC cost of a resident day for each category of residents using assistance hours as the cost driver.

Round answer below to the nearest dollar.

Medical services cost per assistance hour $Answer   

NOTE: Use your rounded answer above to compute answers below. Round final answers to the nearest dollar.

b. Determine the ABC cost of a resident day for each category of residents using assistance contacts as the cost driver.

Round answer below to the nearest dollar.
Medical services cost per assistance contacts $Answer

NOTE: Use your rounded answer above to compute answers below. Round final answers to the nearest dollar.

E7-7 (Algo) Analyzing and Interpreting the Financial Statement Effects of LIFO and FIFO LO7-2, 7-3 Skip to question [The following information applies to the questions displayed below.] Emily Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2: Units Unit Cost Inventory, December 31, prior year 2,800 $ 13 For the current year: Purchase, April 11 8,960 14 Purchase, June 1 7,850 19 Sales ($52 each) 10,960 Operating expenses (excluding income tax expense) $ 189,000 E7-7 Part 3 3. Which inventory costing method may be preferred for income tax purposes?

Problem 8-80A
Ratio Analysis

Consider the following information taken from GER's financial statements:

Also, GER's operating cash flows were $12,829 and $14,874 in 2020 and 2019, respectively.

Required:

Round your answers to two decimal places.

1. Calculate the current ratios for 2020 and 2019.

2. Calculate the quick ratios for 2020 and 2019.

3. Calculate the cash ratios for 2020 and 2019.

4. Calculate the operating cash flow ratios for 2020 and 2019.

5. Conceptual Connection: What are some reasons why GER's liquidity may be considered to be improving and some reasons why it may be worsening?

GER’s liquidity appears to hold constant when one looks only at the quick ratio . However, because the receivables and inventories  may not be easily converted to cash, the liquidity of GER may be worsening.

A. Journalize the following transactions and post them to ledger. From the following transactions of Phoenix Inc for Oct ,2016. (i)Journalize the below transactions (ii)Post the Journal entries in to ledger accounts Date Transactions 2016 Oct 1 Niel started business with cash $ 800,000 Oct 2 purchased goods worth $ 3000 Oct 15 Sold goods for $ 25000 Oct 18 Purchased stationeries $4000 Oct 23 Purchased furniture for $ 24,000 Oct 25 Paid electricity charges with cash $3000 Oct 26 Paid Salary $18000 Oct 28 Paid rent $500 B. “Bookkeeping is synonymous to accounting” Analyse this statement.

Sheffield Warehouse distributes hardback books to retail stores and extends credit to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $2,845 from Catlin Publishers. 3 Sold books on account to Garfunkel Bookstore for $1,400. The cost of the merchandise sold was $800. 6 Received $45 credit for books returned to Catlin Publishers. 9 Paid Catlin Publishers in full. 15 Received payment in full from Garfunkel Bookstore. 17 Sold books on account to Bell Tower for $1,400. The cost of the merchandise sold was $850. 20 Purchased books on account for $800 from Priceless Book Publishers. 24 Received payment in full from Bell Tower. 26 Paid Priceless Book Publishers in full. 28 Sold books on account to General Bookstore for $1,700. The cost of the merchandise sold was $770. 30 Granted General Bookstore $210 credit for books returned costing $30. Need to know what each one is for either positive or negative for cash, accts Rec, Inv, accts pay, common stock, rev, exp.

Need to know if positive or negative for either cash, accts rec, inv, accts pay, common stock, rev, exp.

Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, the accounting records for the most popular item in inventory showed the following: Transactions Units Unit Cost Beginning inventory, January 1 410 $4.00 Transactions during the year: a. Purchase, January 30 310 3.50 b. Purchase, May 1 470 5.00 c. Sale ($6 each) (170) d. Sale ($6 each) (710) Required: a. Compute the amount of goods available for sale. b. & c. Compute the amount of ending inventory and cost of goods sold at December 31, under Average cost, First-in, first-out, Last-in, first-out and Specific identification inventory costing methods. For Specific identification, assume that the first sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1.

Examine the wellness wheel. The wellness wheel provides the different aspects of a person’s life that contributes to a good quality of life. Which among these do you want to improve? Which aspects of your life do you want to focus on? Write a letter to yourself or to other people on what you will do given this pandemic. For example, if you choose, the physical wellness, what will you do to achieve physical wellness (e.g. exercise, eat healthy, etc.). Specify and elaborate. This will serve as your commitment to remain positive in this trying time. You may choose at least one or more than one it depends on you.

PLEASE ANSWER ASAP THANKS

Payback Period and Accounting Rate of Return: Equal Annual Operating Cash Flows with Disinvestment
Roopali is considering an investment proposal with the following cash flows:

For parts b. and c., round answers to three decimal places, if applicable.

a. Determine the payback period.
Answer

years

b. Determine the accounting rate of return on initial investment
Answer

c. Determine the accounting rate of return on average investment
Answer

2- Henrietta is self-employed and would like to know what kind of deduction she could get for her home office. She has gross income from her business of $150,000. Her total home square footage is 2,500. The square footage of her office is 150. Total utilities $600. Total home mortgage interest $10,000. Total real estate taxes $4,000.

1. Explain to Henrietta the options for calculating the home office deduction.
2. Based on the information provided what would be Henrietta’s deduction?
3. What information should you discuss with Henrietta regarding the requirements of taking this deduction?

Ranking Investment Proposals:Payback Period, Accounting Rate of Return, and Net Present Value
Presented is information pertaining to the cash flows of three mutually exclusive investment proposals:

Select the best investment proposal  using the payback period, the accounting rate of return on initial investment, and the net present value criteria. Assume that the organization's cost of capital is 14 percent.

Note: Follow rounding instructions noted for each computation. Use a negative sign with your answers, when appropriate.

5. Following information is available for two companies. Analyze the information and answer the questions: a. M G Industries manufactures various types of industrial chemicals. The company had a total asset turnover of 2.5 times for the year ended 31st March 2019. The sales for the year were ₹ 35,50,000. Total assets were ₹ 12,35,890 as on 31st March 2018. Assume that compared to 31st March 2019, total assets were projected to increase by 12% by 31st March 2020. The company projected a total asset turnover of 2.8 times for the year ending 31st March 2020. Given this information, what are the projected sales for year ending 31st March 2020? b. An airline company has taken many aircrafts on lease. Its EBIT for the year ended 31st March 2019 was ₹124.68 crores. Interest coverage ratio was impressive at 5.6 times. However its fixed charges coverage ratio was only 1.4 times. The fixed charges were lease rentals for the aircrafts. Given this information, calculate the lease rentals for the year.

List of account activity and how they are added or subtracted on the statement of cash flows?

1. Cash Received from Customers

2. Decrease in Accounts Receivable

3. Increase in Inventory

4. Decrease in Inventory

5. Increase in Prepaid Expenses

6. Decrease in Prepaid Expenses

7. Equipment Purchase

8. Sale of Equipment

9. Paid Salaries and Wages

10. Cash Received from Issuing Stock

11. Cash Paid for Income Taxes

12. Cash Paid to purchase investments in Securities

13 Dividends Paid to Owners

14. Interest Paid in Liabilities

15. Cash Used to repay Principal to Lenders

16. Cash Used to Repurchase Stock from Owners

17. Cash Provided by Dividends and Interest on Investments

18. Cash from Sale or Maturity of Investments in Securities

19. Cash Provided by Borrowing from a Bank

20. Depreciation Expense

Jason Ackerman is the management accountant for Central Restaurant Supply ​(CRS. Beth Donaldson, the CRS sales​ manager, and Jason are meeting to discuss the profitability of one of the​ customers, Mama Leone's Leone's Pizza. Jason hands Beth the following analysis of Mama Leone's activity during the last​ quarter, taken from Central ​activity-based costing​ system:

Sales $23,400

Cost of goods sold (all variable) 14,025

Order processing (25 orders processed at $300 per order) 7,500

Delivery (2,500 miles driven at $0.75 per mile) 1,875

Rush orders (3 rush orders at $165 per rush order) 495

Sales calls (3 sales calls at $150 per call) 450

Operating income $ (945)

Beth looks at the report and​ remarks, "I'm glad to see all my hard work is paying off with Mama Leone's. Sales have gone up 10 % over the previous​ quarter!"

Jason ​replies, "Increased sales are​ great, but​ I'm worried about Mama Leone's ​margin, Beth. We were showing a profit with Mama Leone's at the lower sales​ level, but now​ we're showing a loss. Gross margin percentage this quarter was 40 %​, down five percentage points from the prior quarter.​ I'm afraid that corporate will push hard to drop them as a customer if things​ don't turn​ around."

​"That's crazy," Beth responds.​ "A lot of that overhead for things like order​ processing, deliveries, and sales calls would just be allocated to other customers if we dropped Mama Leone's. This report makes it look like​ we're losing money on Mama Leone's when​ we're not. In any​ case, I am sure you can do something to make its profitability look closer to what we think it is. No one doubts that Mama Leone's is a very good​ customer."

Requirements

Assume that Beth is partly correct in her assessment of the report. Upon further​ investigation, it is determined that 10 % of the order processing costs and 20 % of the delivery costs would not be avoidable if CRS were to drop Mama Leone's. Would CRS benefit from dropping Mama Leone's​? Show your calculations.

Beth​'s bonus is based on meeting sales targets. Based on the preceding information regarding gross margin​ percentage, what might Beth have done last quarter to meet her target and receive her​ bonus? How might CRS revise its bonus system to address​ this?

Should Jason rework the​ numbers? How should he respond to Beth​'s comments about making Mama Leone's look more​ profitable?