1- a restaurant made cash sales of $4,000 subject to a 5% sales tax. record the sales and the related tax. also record the payment of the tax to the state.

on october 1, 2014, rhodes company purchased equipment at a cost of $10,000.00, signing a nine-month 8% note payable for that amount. record the october 1 purchase and the adjusting entry needed on december 31, 2014. record the entry for the payment of the note plus interest at maturity on july 1, 2015.

2- closing entries using T-account

please do 1 and 2

At the end of June, the job cost sheets for Monson Manufacturing show the following total costs accumulated on three custom jobs.

Job 203 was started in production in May and the following costs were assigned to it in May: direct materials, $12,000; direct labor, $6,000; and overhead $8,700. Jobs 204 and 205 are started in June. Overhead cost is applied with a predetermined rate based on direct labor cost. Jobs 203 and 204 are finished in June, and Job 205 will be finished in July. No raw materials are used indirectly in June. Using this information, answer the following questions assuming the company's predetermined overhead rate did not change.

a. What is the cost of the raw materials requisitioned in June for each of the three jobs? Blank 1
b. How much direct labor cost is incurred during June for each of the three jobs? Blank 2
c. What predetermined overhead rate is used during June? Blank 3
d. How much total cost is transferred to finished goods during June? Blank 4

31. Houseal Corporation has provided the following data from its activity-based costing system:

Data concerning one of the company's products, Product W58B, appear below:

According to the activity-based costing system, the product margin for product W58B is:

2. Doede Corporation uses activity-based costing to compute product margins. In the first stage, the activity-based costing system allocates two overhead accounts--equipment depreciation and supervisory expense--to three activity cost pools--Machining, Order Filling, and Other--based on resource consumption. Data to perform these allocations appear below:

Distribution of Resource Consumption Across Activity Cost Pools:

In the second stage, Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products.

Activity:

Finally, sales and direct cost data are combined with Machining and Order Filling costs to determine product margins.

Sales and Direct Cost Data:

The activity rate for the Machining activity cost pool under activity-based costing is closest to:

3. In time-based activity-based costing, the practical capacity percentage is an estimate of the company’s capacity in relation to its closest competitor. true or false

Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. Jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. In addition to the materials and labor charged directly to the jobs, $7,400 of indirect materials and $12,000 of indirect labor were used during the month. The cost sheets for the four jobs entering production during the month are as follows, in summary form:

Required:

Answer this fully please

PepsiCo, Inc. (PEP), the parent company of Frito-Lay snack foods and Pepsi beverages, had the following current assets and current liabilities at the end of two recent years:

a. Determine the (1) current ratio and (2) quick ratio for both years. Round to one decimal place.

1. Neelon Corporation has two divisions: Southern Division and Northern Division. The following data are for the most recent operating period:

The common fixed expenses have been allocated to the divisions on the basis of sales.

The Northern Division’s break-even sales is closest to:

2. Data for January for Bondi Corporation and its two major business segments, North and South, appear below:

Sales revenues, North $ 640,000
Variable expenses, North $ 371,300

Traceable fixed expenses, North $ 76,500

Sales revenues, South $ 493,900 Variable expenses, South $ 281,800

Traceable fixed expenses, South $ 63,900

In addition, common fixed expenses totaled $173,300 and were allocated as follows: $90,000 to the North business segment and $83,300 to the South business segment. A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:

3. A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:

Selling price $ 140

Units in beginning inventory 0

Units produced 3,150

Units sold 2,760

Units in ending inventory 390

Variable costs per unit:

Direct materials $ 47

Direct labor $ 18

Variable manufacturing overhead $ 10

Variable selling and administrative expense $ 19

Fixed costs:

Fixed manufacturing overhead $ 107,100

Fixed selling and administrative expense $ 24,840

The total gross margin for the month under absorption costing is:

4. Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price $ 116

Units in beginning inventory 0

Units produced 9,000

Units sold 8,600

Units in ending inventory 400

Variable costs per unit:

Direct materials $ 19

Direct labor $ 61

Variable manufacturing overhead $ 7

Variable selling and administrative expense $ 11

Fixed costs:

Fixed manufacturing overhead $ 135,000

Fixed selling and administrative expense $ 8,900

What is the net operating income for the month under absorption costing?

5. Aaron Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price $ 99

Units in beginning inventory 0

Units produced 4,800

Units sold 4,030

Units in ending inventory 770

Variable costs per unit:

Direct materials $ 20

Direct labor $ 40

Variable manufacturing overhead $ 6

Variable selling and administrative expense $ 4

Fixed costs:

Fixed manufacturing overhead $ 54,900

Fixed selling and administrative expense $ 3,500

The total contribution margin for the month under variable costing is:

1- Financial Accounting is done for the benefit of……………………………………

Creditors

Government

All of the above

Investors

2-

Wages paid to factory workers is an example of …………………………………

Group of answer choices

Indirect Cost

Period Cost

Direct Cost

None of the above

3-

Manufacturing Overheads are an example of…………………………………………….

Group of answer choices

None of the above

Period Cost

Product Cost

Direct Cost

4- Budgeting is an integral part of………………………………………………………………….

Group of answer choices

Managerial Accounting

Forensic Accounting

Financial Accounting

Responsibility Accounting

5- The inventory valuation technique in which the inventory purchased later will be used first is called………………………………………….

Group of answer choices

Average Cost

Specific Cost

LIFO

FIFO

6-Administrative expenses belong to the category……………………………………………………………………

Group of answer choices

Product Cost

Period Cost

None of the above

Direct Cost

7- The information of the company must not be shared by the management accountant with the external parties is covered under the ethical code……………………………………………………….

Group of answer choices

Credibility

Integrity

Confidentiality

Competence

10 - The Inventory valuation technique suitable for articles which have unique identification code is called......................

Group of answer choices

LIFO

Specific Cost

Average Cost

EOQ

Lysiak Corporation uses an activity based costing system to assign overhead costs to products. In the first stage, two overhead costs--equipment depreciation and supervisory expense-are allocated to three activity cost pools--Machining, Order Filling, and Other--based on resource consumption. Data to perform these allocations appear below:

Distribution of Resource Consumption Across Activity Cost Pools:

In the second stage, Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity data for the company's two products follow:

Activity:

How much overhead cost is allocated to the Machining activity cost pool under activity-based costing in the first stage of allocation?

2.

Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity data for the company's two products follow:

Activity:

Finally, the costs of Machining and Order Filling are combined with the following sales and direct cost data to determine product margins.

Sales and Direct Cost Data:

What is the product margin for Product F7 under activity-based costing?

James Henderson deposited $19,000 in a money market certificate that provides interest of 8% compounded quarterly if the amount is maintained for 3 years. How much will Cindy Henry have at the end of 3 years? (Round factor values to 5 decimal places, e.g. 1.25124. Round answers to the nearest whole dollar, e.g. 5,250.)

Consolidation at the end of the first year subsequent to date of acquisition—Equity method (purchase price equals book value) Assume that a parent company acquires its subsidiary on January 1, 2016, by exchanging 40,000 shares of its $1 par value Common Stock, with a market value on the acquisition date of $28 per share, for all of the outstanding voting shares of the acquiree. You have been charged with preparing the consolidation of these two companies at the end of the first year. On the acquisition date, all of the subsidiary’s assets and liabilities had fair values equaling their book values. Following are financial statements of the parent and its subsidiary for the year ended December 31, 2016.

discuss analyzing cost allocation methods?

Explain the importance of computing ratios and their significance to investors ?

The CFO of Advo Corporation is considering two investment opportunties. The expected future cash inflows for each opportunity follow:

, Year 1 Year 2 Year 3 Year 4

Project 1 $144,000 $147,000 $160,000 $178,000

Project 2 204,000 199,000 114,000 112,000

Both investments require an initital of $400,000. dvo's desired rate of return is 16 percent.

a) Compute the net present value of each project. Which project should Advo adopt based on the net present value approach?

b) Use the incremental revenue summation method to compute the payback period for each project. Which project should Advo adopt based pn the payback approach?

1) What is meant by the expression, time value of money?

2) Why should all capital investment proposals include time value of money (present value) calculations of future cash flows that are to be received from the alternative investments?

Bramble Electronics operates as a decentralized company. Bramble’s Battery division manufactures batter chargers that are sold both externally to outside customers and internally to the Camera division. Battery division’s annual capacity is 83,700 units. The revenue and costs associated with one battery charger are as follows:

The Camera division would like to purchase 25,110 units of battery chargers; however, Cameron, the manager of the Camera division, is able to purchase the battery charger from an overseas supplier at $19.

Assuming the Battery division operates at 85% capacity, what is the range of the transfer price, if any, for the battery charger? Cameron has learned that the Battery division operates below its capacity. He is willing to pay up to $18.50 for a battery charger. Should the Battery division accept the offer at $18.50?

The range $_______   ? TP ? $_________

The Battery division _____(should/should not) accept the offer to transfer the battery chargers at $18.50.

Selected current year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $49,900; total assets, $199,400; common stock, $86,000; and retained earnings, $34,224.)

Required:
Compute the following: (1) current ratio, (2) acid-test ratio, (3) days' sales uncollected, (4) inventory turnover, (5) days' sales in inventory, (6) debt-to-equity ratio, (7) times interest earned, (8) profit margin ratio, (9) total asset turnover, (10) return on total assets, and (11) return on common stockholders' equity. (Do not round intermediate calculations.)