##### Musich Corporation has an activity-based costing system with three activity cost pools--Machining, Setting Up, and Other....

Musich Corporation has an activity-based costing system with three activity cost pools--Machining, Setting Up, and Other. The company's overhead costs, which consist of equipment depreciation and indirect labor, have been allocated to the cost pools already and are provided in the table below.

Activity Cost Pools

Machining

Setting Up

Other

Total

Equipment depreciation

$9400$

48,700

$23,800$

81,900

Indirect labor

4500

2900

4100

11,500

Total

$13,900$

51,600

$27,900$

93,400

Costs in the Machining cost pool are assigned to products based on machine-hours (MHs) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are not assigned to products. Data concerning the two products and the company's costs appear below:

MHs

Batches

Product Z3

6000

750

Product T1

6200

1350

Total

12,200

2100

Product Z3 Product T1

Sales (total)

$230,800$

255,500

Direct materials (total)

$84,000$

97,600

Direct labor (total)

$110,000$

105,200

Required:

Calculate the following:

Machining Activity Rate

$Setting up Activity Rate$

Amount of OH applied to product Z3 (round to the nearest dollar)

$Amount of OH applied to product T1 (round to the nearest dollar)$

Product Margin – Z3 (round to the nearest dollar)

$Product Margin – T1 (round to the nearest dollar)$

In: Accounting

##### The ____ basis of accounting is not a generally accepted method of determining profit for a...

The ____ basis of accounting is not a generally accepted method of determining profit for a businesses that have significant credit transactions.

In: Accounting

##### What is the nominal rate of interest compounded monthly at which payments of $200 made at... What is the nominal rate of interest compounded monthly at which payments of$200 made at the end of every three months accumulate to $9200 in eight years? Show the financial calculator (BA II Plus) steps with values so I can see how to do the question as they need just the financial calculations for the midterm (and timeline if needed). In: Accounting ##### Reynolds Corporation's comparative balance sheets are presented below. Reynolds CORPORATION Balance Sheets December 31 2018 2017... Reynolds Corporation's comparative balance sheets are presented below.  Reynolds CORPORATION Balance Sheets December 31 2018 2017 Cash$ 10,000 $9,000 Accounts receivable 35,000 30,000 Inventory 25,500 20,000 Land 15,000 15,000 Building 90,000 90,000 Accumulated depreciation (27,000) (25,000) Total$148,500 $139,000 Accounts payable$ 50,000 $45,000 Common stock 65,000 60,000 Retained earnings 33,500 34,000 Total$148,500 $139,000 Reynolds' 2018 income statement included net credit sales of$200,000, cost of goods sold of $120,000, and net income of$30,000.

Instructions:
Compute the following ratios for 2018. (a) Current ratio. (b) Acid-test ratio. (c) Receivables turnover. (d) Profit margin. (e)Return on assets. (Round ratios to 2 decimal places and percentages to 1 decimal place.)

In: Accounting

##### Douglas Toys is a manufacturer that uses the weighted-average process costing method to account for costs...

 Douglas Toys is a manufacturer that uses the weighted-average process costing method to account for costs of production. It produces a plastic toy in three separate departments: Molding, Assembling, and Finishing. The following information was obtained for the Assembling Department for the month of September. Work in process on September 1 had 114,000 units made up of the following:
 Amount Degree of Completion Prior department costs transferred in from the Molding Department $163,020 100 % Costs added by the Assembling Department Direct materials$ 108,300 100 % Direct labor 40,688 60 % Manufacturing overhead 28,374 50 % $177,362 Work in process, September 1$ 340,382

In: Accounting

##### discuss the four approaches that are widely used to express the cost of employee benefits and...

discuss the four approaches that are widely used to express the cost of employee benefits and service

In: Accounting

##### You are planning for a very early retirement. You would like to retire at age 40...

You are planning for a very early retirement. You would like to retire at age 40 and have enough money saved to be able to draw $220,000 per year for the next 40 years​ (based on family​history, you think​ you'll live to age 80​). You plan to save for retirement by making 15 equal annual installments​ (from age 25 to age​ 40) into a fairly risky investment fund that you expect will earn 12% per year. You will leave the money in this fund until it is completely depleted when you are 80 years old. 1. How much money must you accumulate by​ retirement? ​(Hint​:Find the present value of the$ 220,000 withdrawals.)

Calculate the present value to find out how much money must be accumulated by retirement. ​(Round your answer to the nearest whole​ dollar.)

 The present value is $. 2. How does this amount compare to the total amount you will draw out of the investment during​ retirement? How can these numbers be so​ different?  Over the course of your retirement you will be withdrawing$ . However, by age 40 you only need to have invested

These numbers are different​ because:

A.You need to have far more accumulated than what you will withdraw because you will withdraw a large portion of the investment every yearlong dash the balance remains invested where it continues to earn 12% interest.

B. You need to have the same accumulated as you will withdraw because you will not earn further interest on your investment when you reach retirement.

C.You need to have far less accumulated than what you will withdraw because you only withdraw a portion of the investment every yearlong dashthe balance remains invested where it continues to earn 12​% interest.

D.None of the above.

3. How much must you pay into the investment each year for the first fifteen ​years?​(Hint​: Your answer from Requirement 1 becomes the future value of this​ annuity.) ​(Round your answer to the nearest whole​ dollar.)

 You must pay $into the investment each year for the first fifteen years. 4. How does the total​ out-of-pocket savings compare to the​ investment's value at the end of the fifteen-year savings period and the withdrawals you will make during​ retirement?​ (Use the investment rounded to the nearest whole number that you calculated​ above, then round your final answer to the nearest whole​ dollar.)  The total out-of-pocket savings amounts to$ . This is far than the investment's worth at the end of fifteen years and remarkably than the amount of money you will eventually withdraw from the investment.

In: Accounting

##### Miller Company’s contribution format income statement for the most recent month is shown below: Total Per...

Miller Company’s contribution format income statement for the most recent month is shown below:

 Total Per Unit Sales (32,000 units) $160,000$ 5.00 Variable expenses 64,000 2.00 Contribution margin 96,000 $3.00 Fixed expenses 43,000 Net operating income$ 53,000

Required:

(Consider each case independently):

1. What is the revised net operating income if unit sales increase by 10%?

2. What is the revised net operating income if the selling price decreases by $1.20 per unit and the number of units sold increases by 18%? 3. What is the revised net operating income if the selling price increases by$1.20 per unit, fixed expenses increase by $9,000, and the number of units sold decreases by 4%? 4. What is the revised net operating income if the selling price per unit increases by 10%, variable expenses increase by 10 cents per unit, and the number of units sold decreases by 11%?  1. Net operating income 2. Net operating income 3. Net operating income 4. Net operating income In: Accounting ##### Part V (10 marks) Part A In September 2017, the budget committee of Fidelity Company assembled... Part V Part A In September 2017, the budget committee of Fidelity Company assembled the following data: 1. Expected Sales October$400,000 November 420,000 December 450,000 2. Cost of goods sold is expected to be 45% of sales. 3. Purchases for October are $180,900. 4. Desired ending merchandise inventory is 10% of the next month's cost of goods sold. Required: Prepare the budgeted income statement for October through gross profit on sales, including a cost of goods sold schedule In: Accounting ##### Water Planet is considering purchasing a water park in Miami, Florida​, for$ 2,100,000. The new...

Water Planet is considering purchasing a water park in Miami, Florida​, for $2,100,000. The new facility will generate annual net cash inflows of$ 535,000 for eight years. Engineers estimate that the facility will remain useful for eight years and have no residual value. The company uses​ straight-line depreciation. Its owners want payback in less than five years and an ARR of 10​% or more. Management uses a 12% hurdle rate on investments of this nature.

.

Requirement 1. Compute the payback​ period, the​ ARR, the​ NPV, and the approximate IRR of this investment.​ (If you use the tables to compute the​ IRR, answer with the closest interest rate shown in the​ tables.) ​(Round the payback period to one decimal​ place.)

 The payback period is years.

​(Round the percentage to the nearest tenth​ percent.)

 The ARR (accounting rate of return) is %.

 Net present value \$

The IRR​ (internal rate of​ return) is between

.

Requirement 2. Recommend whether the company should invest in this project.

In: Accounting