Write between 500 to 1000 words about the differences between S.A.P and Sage

Financial Statement Analysis The financial statements for Nike, Inc., are available at the Appendix C link above. The following additional information (in millions) is available: Accounts receivable at May 31, 2011: $3,138 Inventories at May 31, 2011: 2,715 Total assets at May 31, 2011: 14,998 Stockholders' equity at May 31, 2011: 9,843 Determine the following measures for the fiscal years ended May 31, 2013 (fiscal 2012), and May 31, 2012 (fiscal 2011). Do not round interim calculations. Round the working capital amount in part (a) to the nearest dollar. Round all other final answers to one decimal place. When required, use the rounded final answers in subsequent computations. Fiscal Year 2012 Fiscal Year 2011 a. Working capital (in millions) $ $ b. Current ratio c. Quick ratio d. Accounts receivable turnover e. Number of days' sales in receivables days days f. Inventory turnover g. Number of days' sales in inventory days days h. Ratio of liabilities to stockholders' equity i. Ratio of sales to assets j. Rate earned on total assets, assuming interest expense is $23 million for the year ending May 31, 2013, and $31 million for the year ending May 31, 2012 % % k. Rate earned on stockholders' equity % % l. Price-earnings ratio, assuming that the market price was $61.66 per share on May 31, 2013, and $53.10 per share on May 31, 2012 m. Percentage relationship of net income to sales % %

Amber Mining and Milling, Inc., contracted with Truax Corporation to have constructed a custom-made lathe. The machine was completed and ready for use on January 1, 2018. Amber paid for the lathe by issuing a $500,000, three-year note that specified 4% interest, payable annually on December 31 of each year. The cash market price of the lathe was unknown. It was determined by comparison with similar transactions that 10% was a reasonable rate of interest. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1-a. Complete the table below to determine the price of the equipment. 1-b. Prepare the journal entry on January 1, 2018, for Amber Mining and Milling’s purchase of the lathe. 2. Prepare an amortization schedule for the three-year term of the note. 3. Prepare the journal entries to record (a) interest for each of the three years and (b) payment of the note at maturity.

1. Rain Gear, Inc., produces rain jackets. The master budget shows the following standards information and indicates the company expected to produce and sell 28,000 units for the year. Variable manufacturing overhead is allocated based on direct labor hours.

Rain Gear actually produced and sold 30,000 units for the year. During the year, the company purchased and used 130,000 yards of material for $429,000. A total of 65,000 labor hours were worked during the year at a cost of $637,000. Variable overhead costs totaled $231,000 for the year.

1. Company policy is to investigate all variances greater than 10 percent of the flexible budget amount for each of the three variable production costs: direct materials, direct labor, and variable overhead. Identify which of the six variances calculated in requirements bthrough eshould be investigated.

2. Provide two possible explanations for each variance identified in requirement e.

The following information is computed from Katy Inc.'s annual report for 2018.

Note: One-third of the operating lease rental charge was $100,000 in 2018 and $50,000 in 2017. Capitalized interest totaled $30,000 in 2018 and $20,000 in 2017.

Required:

Terri computed the pre-determined overhead rate. She estimated that 440,000 direct labor hours were going to be used for the upcoming year. Her boss wanted her to change the estimate to 420,000 direct labor hours even though he knows that this amount is probably going to be wrong. 1) What is the effect of changing the estimated direct labor hours on the pre-determined overhead rate computation? 2) Should Terri change the estimated direct labor hours to 420,000? Why or why not?

Denver Inc purchased a 5 year asset in November for $20,000. This is the only asset the company placed in service during that year. Neither the straight line method nor the 150% declining balance method was elected. The company elects out of bonus depreciation an the Section 179 expense deduction. Denver Inc sold the asset in September of Year 3. What is the depreciation in the year of sale? A. $2,350, B. $2,850, C. $3,250, D. $3,450

A partially completed pension spreadsheet showing the relationships among the elements that constitute Carney, Inc.’s defined benefit pension plan follows. At the end of 2018, Carney revised its pension formula and incurred a prior service cost of $100 million. At the end of 2019, the pension formula was amended again, creating an additional prior service cost of $200 million. At the beginning of 2020, $400 million prior service cost was incurred. At the beginning of 2021, $300 million prior service cost was incurred. In 2018 - 2021, the actuary’s discount rate remained 10%, and the average remaining service life of the active employee group remained 10 years. The expected rate of return on assets was 10% in 2019, and increased by 1% each year.

2020 spreadsheet

1. Fill in blanks in the 2021 pension spreadsheet.

Joe has an annual income of $80,000. His employer pays all of his health insurance premiums.
Joe expects to incur $2,000 in unreimbursed medical expenses for the year. He pays an average
federal tax rate of 22%. In addition, his state has a flat 3% income tax rate. Thus, his total
income taxes paid will be equal to 25% of his taxable income. Joe expects to deduct $15,000
from his annual income for income tax purposes.
a. How much income tax will Joe pay in total (state plus federal)?

b. How much FICA (payroll) tax will Joe pay? How much will his employer pay? What
fraction of the total payroll tax can be attributed to Medicare?

c. Joe decides to redirect $2,000 of his salary to a flexible spending account. This
contribution is considered a salary reduction, which means it reduces both the payroll
taxes and the income taxes Joe needs to pay. What are the total taxes Joe needs to pay
now? How much money has he saved?

Flexible Budgeting and Variance Analysis

I Love My Chocolate Company makes dark chocolate and light chocolate. Both products require cocoa and sugar. The following planning information has been made available:

I Love My Chocolate Company does not expect there to be any beginning or ending inventories of cocoa or sugar. At the end of the budget year, I Love My Chocolate Company had the following actual results:

Required:

1. Prepare the following variance analyses for both chocolates and the total, based on the actual results and production levels at the end of the budget year:

     a. Direct materials price variance, direct materials quantity variance, and total variance.

     b. Direct labor rate variance, direct labor time variance, and total variance.

Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

2. The variance analyses should be based on the   amounts at   volumes. The budget must flex with the volume changes. If the   volume is different from the planned volume, as it was in this case, then the budget used for performance evaluation should reflect the change in direct materials and direct labor that will be required for the   production. In this way, spending from volume changes can be separated from efficiency and price variances.

Analyzing Manufacturing Cost Accounts

Fire Rock Company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for June:

In addition, the following information is available:

a. Materials and direct labor were applied to six jobs in July:

b. Factory overhead is applied to each job at a rate of 170% of direct labor cost.

c. The June 1 Work in Process balance consisted of two jobs, as follows:

d. Customer jobs completed and units sold in July were as follows:

1. Determine the missing amounts associated with each letter and complete the following table. If required, round amounts to the nearest dollar. If an answer is zero, enter in "0". Enter all amounts as positive numbers.

a. Materials Requisitions $

b. Work in Process Beginning Balance $

c. Direct Materials $

d. Direct Labor $

e. Factory overhead applied $

f. Completed jobs $

g. Cost of goods sold $

h. Indirect labor $

2. Determine the June 30 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balances.

Hairco makes and sells hair products at an awesome salon. The hair products are made of aloe, gel, and tea tree oil. Given the following information about Hairco’s January operations, answer the questions below. Budgeted MOH: $800 per month. Budgeted Machine Hours (Hairco’s chosen allocation base for MOH): 200.

Inventory Balances 1/1 1/31

Hair Products $ 1000 1200

Aloe 50 65

Partly-mixed hair products 400 385

Gel 300 280

Tea Tree Oil 450 620

During January, Hairco bought 200 ounces of aloe at $0.75 per ounce, 6000 ounces of gel at $0.50 per ounce, and 800 ounces of tea tree oil for $3 an ounce. The machines were used 190 hours. It also incurred the following costs.

Depreciation on machines $30 per month

Depreciation on tools $10 per month

Cashier in store 40 hours a week at $12 per hour for 4 weeks

Rent on factory $150 per month

Factory custodian 10 hours per week at $8 per hour for 4 weeks

Utilities for factory $200 per month + $0.05 per kilowatt hour.

Shampoo mixer 40 hours per week (4 weeks) at $10 per hour

Categorize the inventory items listed above.

Categorize each of the costs listed above as Direct Materials, Direct Labor, Manufacturing Overhead or Period (Nonmanufacturing) cost AND as fixed or variable.

Hairco sold $15,000 worth of hair products in January. Create an income statement for the month. Like many companies, Hairco uses actuals for DM & DL, and the Budgeted MOH rate to calculate MOH.

In March, Hairco gets its utility bill (2000 kilowatt hours were used) for January, the last of its MOH costs for that month. How much is Hairco’s MOH over or under-applied? What are its options for disposing of this amount?

Show all these.

Please explain to me how they calculating 10.4 M , 1.4M and also 4.4M A construction company entered into a fixed-price contract to build an office building for $26 million. Construction costs incurred during the first year were $6 million and estimated costs to complete at the end of the year were $9 million. During the first year the company billed its customer $9 million, of which $3 million was collected before year-end. What would appear in the year-end balance sheet related to this contract using the percentage-of-completion method? (Enter your answers in whole dollars.) Assets: Accounts receivable $6,000,000 Costs plus profit in excess of billings $1,400,000 Explanation: Assets: Accounts receivable ($9 million – 3 million) = $6,000,000 Cost plus profit ($6 million + $4.4 million*) in excess of billing ($9 million) = $1,400,000 * First year gross profit = $10,400,000 – 6,000,000 = $4,400,000