what documentation should you access prior to making a collection call?
how can you negotiate with customers so that both they and the organisation you represent are happy with the outcome?
hat sort of procedures might be in place to deal with accounts that are outside of agreed terms?

what non financial (qualitative) information might be useful for management team of Singapore Airlines company? provide two examples and explain why. (250 words)

Characteristics of Production Process, Cost Measurement

Vince Melders, of EcoScape Company, designs and installs custom lawn and garden irrigation systems for homes and businesses throughout the state. Each job is different, requiring different materials and labor for installing the systems. EcoScape estimated the following for the year:

Number of direct labor hours	6,720
Direct labor cost	$67,200
Overhead cost	$50,400

During the year, the following actual amounts were experienced:

Number of direct labor hours	6,045
Direct labor incurred	$66,495
Overhead incurred	$50,500

Vince Melders, owner of EcoScape, noticed that the watering systems for many houses in a local subdivision had the same layout and required virtually identical amounts of prime cost. Vince met with the subdivision builders and offered to install a basic watering system in each house. The idea was accepted enthusiastically, so Vince created a new company, Irrigation Specialties, to handle the subdivision business. In its first three months in business, Irrigation Specialties experienced the following:

	June	July	August
Number of systems installed	48	68	88
Direct materials used	$14,976	$21,216	$27,456
Direct labor incurred	$9,984	$14,144	$18,304
Overhead	$8,985.60	$9,900.80	$10,982.40

Required:

1. Should Irrigation Specialties use process costing or job-order costing?

2. If Irrigation Specialties uses an actual costing system, what is the cost of a single system installed in June? In July? In August? Round your answers to the nearest dollar.

June	$ per system
July	$ per system
August	$ per system

3. Now assume that Irrigation Specialties uses a normal costing system. Estimated overhead for the year is $64,600, and estimated production is 680 watering systems. What is the predetermined overhead rate per system?

$ per system installed

What is the cost of a single system installed in June? In July? In August?

June	$ per system
July	$ per system
August	$ per system

In 2022, Draper Company discovered errors made in 2019-2021, its first three years of operation.

	2021	2020	2019
Items not recognized:
Prepaid expenses	$1,300	$900	$550
Unearned Revenues	950	700	800
Other information:
Reported net income	$23,000	$25,000	$20,000
Dividends declared and paid	4,100	2,600	5,000
Common stock and additional paid in capital at 12/31	22,000	17,000	15,000

Indicate the error in 12/31/21 Retained Earnings:

Select one:

a. $400 overstated

b. $350 overstated

c. $400 understated

d. $350 understated

e. $550 understated

Question 29

Not yet answered

Points out of 3.00

Flag question

Question text

In 2022, Draper Company discovered errors made in 2019-2021, its first three years of operation.

	2021	2020	2019
Items not recognized:
Prepaid expenses	$1,300	$900	$550
Accrued expenses	950	700	800
Other information:
Reported net income	$23,000	$25,000	$20,000
Dividends declared and paid	4,100	2,600	5,000
Common stock and additional paid in capital at 12/31	22,000	17,000	15,000

Corrected 12/31/21 Total Equity will be:

Select one:

a. $78,450

b. $110,300

c. $77,950

d. $110,650

e. $78,650

Scoresby Inc. tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the end of the year, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31.

  

Transactions	Units			Unit Cost
a. Inventory, Beginning		1,500		$	26
For the year:
b. Purchase, March 5		7,500			27
c. Purchase, September 19		3,500			29
d. Sale, April 15 (sold for $71 per unit)		2,300
e. Sale, October 31 (sold for $74 per unit)		6,500
f. Operating expenses (excluding income tax expense), $402,000 Prepare an income statement that shows the FIFO method, LIFO method and weighted average method. SCORESBY INC. Income Statement For the Year Ended December 31 FIFO LIFO Weighted Average Income (Loss) from Operations

Bob Sample opened the Campus Laundromat on September 1, 2017. During the first month of operations, the following transactions occurred. Sep. 1 Bob invested $20,000 cash in the business. Sep. 2 The company paid $1,000 cash for store rent for September. Sep. 3 Purchased washers and dryers for $25,000, paying $10,000 in cash and signing a $15,000, 6-month, 12% note payable Sep. 4 Paid $1,200 for a one-year accident insurance policy. Sep. 10 Received a bill from the Daily News for online advertising of the opening of the laundromat $200. Sep. 20 Bob withdrew $700 cash for personal use. Sep. 30 The company determined that cash receipts for laundry services for the month were $6,200. Question1 Journalize the September transactions. (Use J1 for the journal page number.) (in General journal table) Question2. Open ledger accounts and post the September transactions Question3. Prepare a trial balance at September 30, 2017

Please answer ALL of the questions!

At the end of the year, a company offered to buy 4,100 units of a product from X Company for a special price of $12.00 each instead of the company's regular price of $18.00 each. The following information relates to the 68,400 units of the product that X Company made and sold to its regular customers during the year:

		Per-Unit	Total
Cost of goods sold		$9.43	$645,012
Period costs		2.60	177,840
Total		$12.03	$822,852

Fixed cost of goods sold for the year were $151,848, and fixed period costs were $78,660. Variable period costs include selling commissions equal to 4% of revenue.

6. Profit on the special order is

Tries 0/3

7. Assume the following two changes for the special order: 1) variable cost of goods sold will decrease by $0.87 per unit, and 2) there will be no selling commissions. What would be the effect of these two changes on the special order profit?

Tries 0/3

8. There is concern that regular customers will find out about the special order, and X Company's regular sales will fall by 700 units. As a result of these lost sales, X Company's profits would fall by

Tries 0/3

X Company currently makes a part and is considering buying it from a company that has offered to supply it for $19.45 per unit. This year, per-unit production costs to produce 54,000 units were:

Direct materials	$8.50
Direct labor	6.50
Overhead	4.10
Total	$19.10

$167,400 of the total overhead costs were variable; $39,960 of the fixed overhead costs cannot be avoided even if X Company buys the part. If the company buys the part, the resources that are used to make it cannot be used for anything else. Production next year is expected to increase to 57,400 units.

If X Company continues to make the part instead of buying it, it will save _______

The Perez Company has the opportunity to invest in one of two mutually exclusive machines that will produce a product it will need for the foreseeable future. Machine A costs $11 million but realizes after-tax inflows of $5 million per year for 4 years. After 4 years, the machine must be replaced. Machine B costs $13 million and realizes after-tax inflows of $3.5 million per year for 8 years, after which it must be replaced. Assume that machine prices are not expected to rise because inflation will be offset by cheaper components used in the machines. The cost of capital is 14%.

1. Using the replacement chain approach to project analysis, by how much would the value of the company increase if it accepted the better machine? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answer to two decimal places.
   $ ________ million

2. What is the equivalent annual annuity for each machine? Enter your answer in millions. For example, an answer of $1.2 million should be entered as 1.2, not 1,200,000. Round your answers to two decimal places.

   Machine A	$ ________ million
   Machine B	$ ________ million

Blackwelder Factory produces two similar products-small lamps and desk lamps. The total plant overhead budget is $529,000 with 540,000 estimated direct labor hours. It is further estimated that small lamp production will require 264,000 direct labor hours and desk lamp production will need 276,000 direct labor hours.

Using the single plantwide factory overhead rate with an allocation base of direct labor hours, how much factory overhead will Blackwelder Factory allocate to small lamp production if actual direct hours for the period is 191,000?

a.$187,180

b.$731,183

c.$366,083

d.$506,000

2)

Blackwelder Factory produces two similar products-small lamps and desk lamps. The total plant overhead budget is $582,000 with 471,000 estimated direct labor hours. It is further estimated that small lamp production will require 267,000 direct labor hours and desk lamp production will need 204,000 direct labor hours.

Using the single plantwide factory overhead rate with an allocation base of direct labor hours, how much factory overhead will Blackwelder Factory allocate to desk lamp production if actual direct hours for the period is 178,000.

a.$220,720

b.$507,824

c.$873,000

d.$361,280

3)

Challenger Factory produces two similar products - regular widgets and deluxe widgets. The total plant overhead budget is $563,000 with 350,200 estimated direct labor hours. It is further estimated that deluxe widget production will need 5 direct labor hours for each unit and regular widget production will require 6 direct labor hours for each unit.

Using the single plantwide factory overhead rate with an allocation base of direct labor hours, how much factory overhead will Challenger Factory allocate to regular widget production if budgeted production for the period is 75,000 units and actual production for the period is 104,800 units?

a.$1,012,368

b.$842,410

c.$93,833

d.$168,482

Many mortgage companies have included in their mortgage contracts the right to non-judicial foreclosure, meaning that if a mortgagee becomes delinquent under the terms of the note, the mortgage company can foreclose on the property without having to sue the mortgagee and obtain a judgment for judicial foreclosure. Do you think this nonjudicial foreclosure provision is fair? Is it good for the economy/business? Should it be allowed? Why or why not? Please remember to comment upon at least two other students' posts in addition to posting your own comment.

In downtown Metropolis, Mr. Kent owns several small office buildings in which he rents space to various professionals. Last year he sold two of his rental buildings. Mr. Kent sold one of the buildings, Lois Lane Office Suites, for $450,000; Mr. Kent’s basis in Lois Lane Office Suites was $400,000. Mr. Kent sold the second building, Kryptonite Professional Center, for $470,000. Mr. Kent’s basis in Kryptonite Professional Center was $540,000. He had owned both buildings for several years. Depreciation claimed by Mr. Kent was not accelerated or otherwise subject to any recapture rules.

(a) What is the character of Mr. Kent’s gains and losses? Assume no other transactions during the year.

(b) What is the result if Mr. Kent’s basis in Kryptonite Professional Center was $490,000? (all other information remains the same as originally stated)

(c) What is the result if Mr. Kent’s basis in Lois Lane Office Suites was $490,000? (all other information remains the same as originally stated)

(d) What is the result if Lois Lane Office Suites was held for 11 months at the time of the sale? (all other information remains the same as originally stated)

Research a publicly traded company of your choice using the latest financial statements and announcement of quarterly or annual dividends per share, an announcement of a stock split of one to two and the purchase of treasury stock. If all three events did not take place, imagine, based on the latest financial statements of the company, that all three events did take place in the company, and build a scenario and projections as follows:

1. Discuss the primary reporting alternatives the company has for the repurchase of its own shares. How would each option affect total shareholders’ equity?
2. How would a stock split of one for two be accounted for, how would it affect shareholder’s equity, and why?
3. How would the company account for the cash dividends from declaration to the date of payment? What are the important dates for dividends payment and how would it affect the balance sheet, and why?

In this question, we will explore the irrelevance of dividend policy.

Suppose XYZ Inc currently has 1 million shares outstanding, and XYZ expects to make $1 million per year in perpetuity, all of which is paid out in dividends. Assume the relevant discount rate is 10%. (Ignore taxes and transaction costs, and assume the markets are efficient.Use the DDM to value the shares)

a.What is the value of one share of XYZ Inc? (Assume the next dividend payment is one year from today.)

b.Now assume XYZ Inc plans to change its dividend policy as follows: the company will skip the next dividend payment and instead it will repurchase $1 million worth of shares. In year 2, and in all subsequent years, the dividends will resume and all the income will be paid out as dividends. What is the current share price under this policy? Provide an explicit calculation of the share price given the new dividend payment stream.(Hint: Let P1 be the share price at time 1, immediately before the share repurchase. Calculate the number of shares repurchased, and then find the dividends per share for years 2 and beyond. Discount all this back in order to find the current share price.) Do not assume the M&M proposition that the dividend policy is irrelevant. Essentially, this question is meant to prove that fact.

c.Suppose you purchase 100 shares today, and sell them 2 years from now, immediately after the year 2 dividend is paid. What is your total profit under each dividend policy? Does this difference in profit violate the indifference of dividend policy? Expla

Service Department Charges

In divisional income statements prepared for LeFevre Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll distributions, and the Purchasing Department costs are charged back on the basis of the number of purchase requisitions. The Payroll Department had expenses of $75,584, and the Purchasing Department had expenses of $25,960 for the year. The following annual data for Residential, Commercial, and Government Contract divisions were obtained from corporate records:

		Residential		Commercial		Government Contract
Sales		$543,000		$719,000		$1,651,000
Number of employees:
	Weekly payroll (52 weeks per year)	190		70		75
	Monthly payroll	38		49		36
Number of purchase
	requisitions per year	1,900		1,300		1,200

a. Determine the total amount of payroll checks and purchase requisitions processed per year by the company and each division.

	Residential	Commercial	Government Contract	Total
Number of payroll checks:
Weekly payroll
Monthly payroll
Total
Number of purchase requisitions per year:

b. Using the activity base information in (a), determine the annual amount of payroll and purchasing costs charged back to the Residential, Commercial, and Government Contract divisions from payroll and purchasing services. If required, round your answers to two decimal places. Do not round your interim calculations, round your answers to two decimal places, if required.

Service department charge rates:
Payroll Department	$ payroll distribution
Purchasing Department	$ per requisition

	Residential	Commercial	Government Contract	Total
Service department charges:
Payroll Department	$	$	$	$
Purchasing Department
Total	$	$	$

c. Residential's service department charge is   than the other two divisions because Residential is a   user of service department services. Residential has many employees on a weekly payroll, which translates into a   number of check-issuing transactions.