• What occurrences do not result in deductible casualty losses according to the IRS in addition to those listed in the text?
• What occurrences do not result in deductible theft losses according to the IRS in addition to those listed in the text?
• At the same time it is explaining the occurrences that do not result in deductible casualty or theft losses, the IRS states that deductible losses can result from two specific occurrences that would seem to fall into the “nondeductible” category. Briefly describe these provisions.

What do publication do I need to cite

Miller Cereals is a small milling company that makes a single brand of cereal. Recently, a business school intern recommended that the company introduce a second cereal in order to “diversify the product portfolio.” Currently, the company shows an operating profit that is 20 percent of sales. With the single product, other costs were twice the cost of rent.

The intern estimated that the incremental profit of the new cereal would only be 7.5 percent of the incremental revenue, but it would still add to total profit. On his last day, the intern told Miller’s marketing manager that his analysis was on the company laptop in a spreadsheet with a file name, NewProduct.xlsx. The intern then left for a 12-month walkabout in the outback of Australia and cannot be reached.

When the marketing manager opened the file, it was corrupted and could not be opened. She then found an early (incomplete) copy on the company’s backup server. The incomplete spreadsheet is shown as follows. The marketing manager then called a cost management accountant in the controller’s office and asked for help in reconstructing the analysis.

Required:

As the management accountant, fill in the blank cells. (Do not round intermediate calculations. Round your final answers to the nearest whole number. Enter all amounts as positive values.)

Miller Cereals

Projected Income Statement

For One Year

Schedule of Cost of Goods Manufactured and Sold
At December 31,2016, the end of its fiscal year, Kelly Metal Products Corporation collected the following data for 2016

Prepare a schedule of cost of goods manufactured and sold for Kelly Metal Products Corporation for the year ended December 31,2016, assuming that there were no other manufacturing overhead items than those listed above.

Do not use negative signs with any of your answers.

Bank Organizer ​Printers, Inc., produces luxury checkbooks with three checks and stubs per page. Each checkbook is designed for an individual customer and is ordered through the​ customer's bank. The​company's operating budget for September 2017 included these​ data:

The budgeted amounts for September 2017 ​were:

The actual results for September 2017 were as​ follows:

The executive vice president of the company observed that the operating income for September was much lower than​ anticipated, despite a​ higher-than-budgeted selling price and a​ lower-than-budgeted variable cost per unit. As the​ company's management​ accountant, you have been asked to provide explanations for the disappointing September results. Bank Organizer develops its flexible budget on the basis of budgeted​ per-output-unit revenue and​ per-output-unit variable costs without detailed analysis of budgeted inputs.

1. For this and the next 3 question. New York Waste (NYW) is considering refunding a $50,000,000, annual payment, 14.5% coupon, 30-year bond issue that was issued 5 years ago. It has been amortizing $3 million of flotation costs on these bonds over their 30-year life. The company could sell a new issue of 25-year bonds at an annual interest rate of 11.67% in today's market. A call premium of 14% would be required to retire the old bonds, and flotation costs on the new issue would be $3 million. The company's marginal tax rate is 40%. The new bonds would be issued when the old bonds are called. Calculate the initial cost of the refunding?

   		$5,049,939
   		$5,315,725
   		$5,595,500
   		$5,890,000
   		$6,200,000
   		None of the above

2. Calculate the after-tax annual INTEREST SAVINGS if the refunding takes place.

   		$664,050
   		$699,000
   		$768,900
   		$849,000
   		$930,369
   		None of the above

3. The amortization of flotation costs reduces taxes and thus provides an annual cash flow. Calculate the net increase or decrease in the annual flotation cost tax savings if refunding takes place.

   		$8,000
   		$6,480
   		$7,200
   		$8,800
   		$9,680
   		None of the above

4. What is the NPV if the bonds are refunded today?

   		$1,746,987
   		$1,838,933
   		$1,935,719
   		$2,037,599
   		$3,785,322
   		None of the above

1. Single Plantwide Rate and Activity-Based Costing

   Whirlpool Corporation conducted an activity-based costing study of its Evansville, Indiana, plant in order to identify its most profitable products. Assume that we select three representative refrigerators (out of 333): one low-, one medium-, and one high-volume refrigerator. Additionally, we assume the following activity-base information for each of the three refrigerators:

   Three Representative Refrigerators	Number of Machine Hours		Number of Setups		Number of Sales Orders		Number of Units
   Refrigerator—Low Volume	120		21		63		600
   Refrigerator—Medium Volume	310		20		140		1,550
   Refrigerator—High Volume	960		14		210		4,800

   Prior to conducting the study, the factory overhead allocation was based on a single machine hour rate. The machine hour rate was $600 per hour. After conducting the activity-based costing study, assume that three activities were used to allocate the factory overhead. The new activity rate information is assumed to be as follows:

   	Machining Activity		Setup Activity		Sales Order Processing Activity
   Activity rate	$580		$900		$200

   a. Complete the following table, using the single machine hour rate to determine the per-unit factory overhead for each refrigerator (Column A) and the three activity-based rates to determine the activity-based factory overhead per unit (Column B). Finally, compute the percent change in per-unit allocation from the single to activity-based rate methods (Column C).

   If required, round all per unit answers to the nearest cent. Round percents to one decimal place. For column C, use the minus sign to indicate a negative or decrease.

   	Column A	Column B	Column C
   Product Volume Class	Single Rate Overhead Allocation Per Unit	ABC Overhead Allocation Per Unit	Percent Change in Allocation
   Low	$	$	%
   Medium	$	$	%
   High	$	$	%

   
   b. Why is the traditional overhead rate per machine hour greater under the single rate method than under the activity-based method?

   The machine hour rate is greater under the single rate method than under the activity-based method because 100% of the factory overhead is is allocated by machine hours under the single rate method. However, only a portion of the factory overhead is allocated under the machine rate method using activity-based costing. The remaining factory overhead is allocated using the . Thus, the numerator for for determining the machine hour rate under activity-based costing must be less than the numerator under the single machine hour rate method.

   c. Interpret Column C in your table from part (A).

   Column C indicates that under activity-based costing the low-volume product has a per-unit cost than calculated under the single rate method. In contrast, under activity-based costing the high-volume product has a per-unit cost than calculated under the single rate method. This result will occur when there are activities that occur in proportions different from their volumes. In this case, volume products have setups and sales orders occurring in higher proportions of total setups and sales orders than their proportion of machine hours to total machine hours. The opposite is the case for the volume product. Thus, the lower-volume products are produced and ordered in batch sizes compared to the higher-volume product. This implies that Whirlpool may wish to simplify its product line by eliminating some of the volume products or by attempting to reduce the overall cost of setup and sales order processing activities.

he president of the retailer Prime Products has just approached the company’s bank with a request for a $49,000, 90-day loan. The purpose of the loan is to assist the company in acquiring inventories. Because the company has had some difficulty in paying off its loans in the past, the loan officer has asked for a cash budget to help determine whether the loan should be made. The following data are available for the months April through June, during which the loan will be used:

1. On April 1, the start of the loan period, the cash balance will be $38,500. Accounts receivable on April 1 will total $148,400, of which $127,200 will be collected during April and $16,960 will be collected during May. The remainder will be uncollectible.

2. Past experience shows that 30% of a month’s sales are collected in the month of sale, 60% in the month following sale, and 8% in the second month following sale. The other 2% is bad debts that are never collected. Budgeted sales and expenses for the three-month period follow:

3. Merchandise purchases are paid in full during the month following purchase. Accounts payable for merchandise purchases during March, which will be paid in April, total $186,000.

4. In preparing the cash budget, assume that the $49,000 loan will be made in April and repaid in June. Interest on the loan will total $840.

Required:

1. Calculate the expected cash collections for April, May, and June, and for the three months in total.

2. Prepare a cash budget, by month and in total, for the three-month period.

Connolly Enterprises manufactures tires for the Formula 1 motor racing circuit. For August 2017 ​, it budgeted to manufacture and sell 3 comma 100 tires at a variable cost of $ 73 per tire and total fixed costs of $ 53 comma 500 . The budgeted selling price was $ 116 per tire. Actual results in August 2017 were 3 comma 000 tires manufactured and sold at a selling price of $ 119 per tire. The actual total variable costs were $ 240 comma 000 ​, and the actual total fixed costs were $ 50 comma 500 . Read the requirements LOADING... . Requirement 1. Prepare a performance report that uses a flexible budget and a static budget. Begin with the actual​ results, then complete the flexible budget columns and the static budget columns. Label each variance as favorable or unfavorable.​ (For variances with a​ $0 balance, make sure to enter​ "0" in the appropriate field. If the variance is​ zero, do not select a​ label.) Actual Results Units sold Revenues Variable costs Contribution margin Fixed costs Operating income Flexible-Budget Flexible Variances Budget Sales-Volume Static Variances Budget Requirement 2. Comment on the results in requirement 1. The total static-budget variance in operating income is $ There is a(n) total flexible-budget variance and a(n) sales-volume variance. The sales-volume variance arises solely because actual units manufactured and sold were than the budgeted 3,100 units. The flexible-budget variance in operating income is due primarily to the in unit variable costs. Choose from any list or enter any number in the input fields and then continue to the next question.

Nittany 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 1: Units Unit Cost Inventory, December 31, prior year 1,870 $ 5 For the current year: Purchase, March 21 5,050 7 Purchase, August 1 2,830 8 Inventory, December 31, current year 4,070 Required: Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods. (Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount.)

Huxley (60) and Elise (45) started the process on adopting Elwood (15) on May 1, 2020. On July 6, 2020, Huxley took a $5,000 distribution from his 401(k). On September 24, 2020, Elise took a $5,000 distribution from her IRA. What is the tax treatment of each distribution?

Huxley's distribution is taxable and not subject to the early distribution penalty. Elise's distribution is taxable and subject to the early distribution penalty.

Huxley's distribution is not taxable or subject to the early distribution penalty. Elise's distribution is taxable and subject to the early distribution penalty.

Huxley's distribution is taxable and not subject to the early distribution penalty. Elise's distribution is taxable and not subject to the early distribution penalty.

Huxley's distribution is taxable and subject to the early distribution penalty. Elise's distribution is taxable and not subject to the early distribution penalty.

Pecan Theater Inc. owns and operates movie theaters throughout Florida and Ga. Pecan Theater has declared the following annual dividends over a six-year period ending December 31 of each year, the outstanding stock of the company was composed of 30,000 shares of cumulative, 4% preferred stock, $100 par, and 100,000 shares of common stock, $25 par.

1. Determine the total dividends and the per share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of Year 1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0".
Year.    Total Dividends. Preferred/Common
1.           48,000                 total? per share?
2.           144,000
3.           288,000
4.           276,000
5.           336,000
6.           420,000
2. Determine the average annual dividend per share for each class of stock for the six-year period. If required, round your answers to two decimal places.
Average annual dividend for preferred_____ per share
Average annual dividend for common_____per share
3. Assuming a market price per share of $253 for the preferred stock and $31 for the common stock, determine the average annual percentage return on initial shareholders' investment, based on the average annual dividend per share for preferred stock and for common stock.
Preferred stock______%
Common stock______%

Twenty metrics of liquidity, Solvency, and Profitability

The comparative financial statements of Automotive Solutions Inc. are as follows. The market price of Automotive Solutions Inc. common stock was $56 on December 31, 20Y8.

Instructions:

Determine the following measures for 20Y8. Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days' sales in receivables and number of days' sales in inventory, round intermediate calculations to the nearest whole dollar and final amounts to one decimal place. Assume there are 365 days in the year.

4

Woodsman Company sells a product for $220 per unit. The variable cost is $120 per unit, and fixed costs are $520,000.

Determine (a) the break-even point in sales units and (b) the break-even point in sales units if the company desires a target profit of $202,800.

Jaynes Inc. acquired all of Aaron Co.'s common stock on January I, 2017, by issuing 11,000 shares of SI par value common stock. Jaynes' shares had a $17 per share fair value. On that date, Aaron reported a net book value of S120,000. However, its equipment (with a five-year remaining life) was undervalued by $6,000 in the company's accounting records. Any excess of consideration transferred over fair value of assets and liabilities is assigned to an unrecorded patent to be amortized over ten years. The following figures came from the individual accounting records of these two companies as of December 31, 2017Aaton Co.276,000 144,000 Jaynes Inc S 720,000 528,000 Not given 00,000 Revenues Expenses Investment income Dividends paid 60,000 The following figures came from the individual accounting records of these two companies as of December 31, 2018 Aaron Co 336.000 180,000 Jaynes Inc Revenues Expenses Investment income Dividends paid Equipment Retained carnings, 12/31 18 balance 840,000 552,000 Not given 110,000 600,000 50,000 360,000 960.000 216000

A.What was the total for consolidated patents as of December 31, 2018?

B. What was consolidated equipment as of December 31, 2018?

C.What balance would Jaynes' Investment in Aaron Co. account have shown on December 31, 2018, when the equity method was applied for this acquisition?

D. What was consolidated net income for the year ended December 31, 2018?

Please provide solutions and answers