Bachmann Products, Inc., has found that new products follow a learning curve. The first two units have been completed with the following results:

How much time will be needed to complete the 8^th unit?

62.00 hours.

39.20 hours.

32.00 hours.

27.44 hours.

Generators R Us (GRU) is a leading manufacturer of partible electric generators used for emergency power supply in both civil and private disaster situations. Each year it produces 16,000 of its model HI-360 units. This model used two bearings, which the company purchases from an outside vendor. A review of accounting and usage records reveals the following information:

labour for installing the bearings = $8 per generator;

• per-unit cost of bearings = $25;

• delivery charges per order = $5;

• processing costs per order = $6;

• mailing expenses per order = $2; and

• the estimated cost of carrying one bearing in inventory for the ear = $0.35.

GRU also found that on average four days elapse between the time an order is placed and the time items are received. Required: a) Compute the economic order quantity. b) Compute the reorder point. Assume that the HI-360 model is manufactured for 350 days each year

On January 1, 2018, Baddour, Inc., issued 10% bonds with a face amount of $160 million. The bonds were priced at $140 million to yield 12%. Interest is paid semiannually on June 30 and December 31. Baddour’s fiscal year ends September 30.

Required:
1. What amount(s) related to the bonds would Baddour report in its balance sheet at September 30, 2018?
2. What amount(s) related to the bonds would Baddour report in its income statement for the year ended September 30, 2018?
3. What amount(s) related to the bonds would Baddour report in its statement of cash flows for the year ended September 30, 2018? In which section(s) should the amount(s) appear?
(For all requirements, Enter your answers in whole dollars.)
On January 1, 2018, Baddour, Inc., issued 10% bonds with a face amount of $160 million. The bonds were priced at $140 million to yield 12%. Interest is paid semiannually on June 30 and December 31. Baddour’s fiscal year ends September 30.

Required:
1. What amount(s) related to the bonds would Baddour report in its balance sheet at September 30, 2018?
2. What amount(s) related to the bonds would Baddour report in its income statement for the year ended September 30, 2018?
3. What amount(s) related to the bonds would Baddour report in its statement of cash flows for the year ended September 30, 2018? In which section(s) should the amount(s) appear?
(For all requirements, Enter your answers in whole dollars.)

On January 1, 2018, Tennessee Harvester Corporation issued debenture bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below:
     

Required:
1. What is the face amount of the bonds?
2. What is the initial selling price of the bonds?
3. What is the term to maturity in years?
4. Interest is determined by what approach?
5. What is the stated annual interest rate?
6. What is the effective annual interest rate?
7. What is the total cash interest paid over the term to maturity?
8. What is the total effective interest expense recorded over the term to maturity?

The work in process inventory account of a manufacturing company that uses and overhead rate based on direct labor cost has a $9,873 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material cost of $3,300 and direct labor cost of $2,100. Therefore, the company's overhead application rate is:

A. 64% of direct labor cost

B. 136% of direct labor cost

c. 157% of direct labor cost

D. 213% of direct labor cost

E. 47% of direct labor cost

Hillsong Inc. manufactures snowsuits. Hillsong is considering purchasing a new sewing machine at a cost of $2.45 million. Its existing machine was purchased five years ago at a price of $1.8 million; six months ago, Hillsong spent $55,000 to keep it operational. The existing sewing machine can be sold today for $242,097. The new sewing machine would require a one-time, $85,000 training cost. Operating costs would decrease by the following amounts for years 1 to 7:

The new sewing machine would be depreciated according to the declining-balance method at a rate of 20%. The salvage value is expected to be $380,900. This new equipment would require maintenance costs of $97,800 at the end of the fifth year. The cost of capital is 9%.

Click here to view PV table.

Use the net present value method to determine the following: (If net present value is negative then enter with negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round present value answer to 0 decimal places, e.g. 125. For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

Calculate the net present value.

Determine whether Hillsong should purchase the new machine to replace the existing machine?

ABC vs. PROCESS COSTING & JOB-ORDER COSTING

How do the three compare? What are the advantages, disadvantages, and applicability for each?

On March 1, 2019, Annapolis Company has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 37,000 units were started. At the end of the month all started units were 75% complete with respect to conversion. Direct Materials placed into production had a total cost of $375,000 and the total conversion cost for the month was $423,000. Annapolis uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of direct material for the month of March. (Round answer to the nearest cent.)

On October 14, 2005, eBay acquired all of the outstanding securities of Skype Technologies S.A. (“Skype”), for a total initial consideration of approximately $2.6 billion, plus potential performance based payments of approximately $1.3 billion (based on the euro–dollar exchange rate at the time of the acquisition and using an income approach to estimating the value of the earnout). The initial consideration of approximately $2.6 billion was comprised of approximately $1.3 billion in cash and 32.8 million shares of eBay’s common stock. For accounting purposes, the stock portion of the initial consideration was valued at approximately $1.3 billion based on the average closing price of eBay common stock surrounding the acquisition announcement date of September 12, 2005. Prepare the journal entry on eBay’s books to record the acquisition.

before procedures using statistical or non-statistical sampling methods begin, the auditor must determine how the sample will be selected. Discuss the four types if sample selection, when they are used and generally, how they are used. give examples.

Nancy Conradt and Chris Russell are partners who share profits and losses in the ratio of 60:40, respectively. On December 31, 2019, they decide that Russell will sell one-half of his interest to Pam Ortega. At that time, the balances of the capital accounts are $640,000 for Conradt and $840,000 for Russell. The partners agree that before the new partner is admitted, certain assets should be revalued. These assets include merchandise inventory carried at $425,200 revalued at $413,000, and a building with a book value of $274,000 revalued at $502,000.

Record the revaluation entries and Determine the capital balances of the two existing partners after the revaluation is made.

Evaluate and discuss how Delta airlines could benefit by analyzing future projects in terms relevant costs. This discussion should include the firm’s future plans, such as expansion, consolidation, and downsizing and how relevant costs could be used in the decision making.

Regarding accounts receivable and an allowance for uncollectible accounts, which of the following statements is false?

Group of answer choices

Net realizable value equals the sales price of an item less reasonable further costs to both make the item ready to sell and to sell it.

An aging of accounts receivable is a determination of how long each receivable has been on the books.

The net realizable value of accounts receivable is decreased when a bad debt is written off.

Receivables that result from transactions other than trade receivables, if material, are to be separately disclosed on the balance sheet.

Larkspur Inc. reports the following pretax income (loss) for both book and tax purposes. (Assume the carryback provision is used where possible for a net operating loss.)

The tax rates listed were all enacted by the beginning of 2015.

Prepare the journal entries for years 2015–2018 to record income tax expense (benefit) and income taxes payable (refundable), and the tax effects of the loss carryback and loss carryforward, assuming that based on the weight of available evidence, it is more likely than not that one-half of the benefits of the loss carryforward will not be realized. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Prepare the income tax section of the 2017 income statement beginning with the line “Operating loss before income taxes.” (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Prepare the income tax section of the 2018 income statement beginning with the line “Income before income taxes.” (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Peter Nimmer opened a veterinary business in Nashville, Tennessee, on August 1, 2017. On August 31, the balance sheet showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, and Owner’s Capital $13,700. During September, the following transactions occurred.

1. Paid $2,900 cash on accounts payable.
2. Purchased additional equipment for $2,100, paying $800 in cash and the balance on account.
3. Recognized revenue of $7,800, of which $2,500 is received in cash and the balance is due in October.
4. Withdrew $1,100 cash for personal use.
5. Paid salaries $1,700, rent for September $900, and advertising expense $450.
6. Incurred utilities expense for month on account $170.
7. Received $10,000 from Capital Bank (money borrowed on a note payable).

Instructions

1. (a) Prepare a tabular analysis of the September transactions beginning with August 31 balances. The column headings should be as follows: Cash 1 Accounts Receivable 1 Supplies 1 Equipment 5 Notes Payable 1 Accounts Payable 1 Owner’s Capital 2 Owner’s Drawings 1 Revenues 2 Expenses.
2. (b) Prepare an income statement, Owner Equity y Balance Sheet for September 30.