Questions
Canterra Co. incurs $160,000 of overhead costs each year in its three main departments, setup($10,000), machining...

Canterra Co. incurs $160,000 of overhead costs each year in its three main departments, setup($10,000), machining ($110,000), and packing ($40,000). The setup department performs 40 setups per year, the machining department works 5,000 hours per year, and the packing department packs 500 orders per year. Information about Canterra's 2 products is as follows: ...................................................Product One............Product Two Number of setups...................................20...........................20 Machining Hours................................1,000......................4,000 Orders packed.......................................150.........................350 Number of Products Manufactured........600.........................400 Using ABC, How much of correspondence costs will be assigned to Department B? How much account rerification costs will be assigned to Department A?

In: Accounting

how has unemployment in south africa affected the south african youth and what are the possible...

how has unemployment in south africa affected the south african youth and what are the possible solutions?

In: Economics

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

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

Sales revenues, North $660,000
Variable expenses, North $383,000
Traceable fixed expenses, North $79,000
Sales revenues, South $510,000
Variable expenses, South $291,000
Traceable fixed expenses, South $66,000

In addition, common fixed expenses totaled $179,000. A properly constructed segmented income statement in a contribution format would show that the net operating income of the company as a whole is:

In: Accounting

QUESTION 5 When we think of "traditional" economies, we think of land ownership being concentrated among...

QUESTION 5

  1. When we think of "traditional" economies, we think of land ownership being concentrated among a tiny few. Was this the case in the South before the Civil War?

    a

    Yes, especially in the case of plantations where large-scale production of export commodities (especially cotton and tobacco) was practiced.

    b

    No, the South was the paradise of the small independent farmer.

    c

    No, the South was characterized by hundreds of small plantations, growing cities, massive immigration, and rapid technological development.

    d

    No, because the South was mainly wilderness.

In: Economics

The Quick Pass CPA Review Co., charges $10,000 for its review classes, and offers a money-back...

The Quick Pass CPA Review Co., charges $10,000 for its review classes, and offers a money-back guarantee, if the student does not pass on the first try. The company collected $500,000 from students in its first class, which was held from July through October of 2019. Since the grades of the students on the November test will not be known until January 2020, the owner of Quick Pass intends to not recognize any income until the number of students who actually passed is known, so that he can report income and refund in the same year. What is your advice to your client?

In: Accounting

(CO 3) Using the following information regarding actual sales for Paradise Pools, calculate the seasonal ratio...

(CO 3) Using the following information regarding actual sales for Paradise Pools, calculate the seasonal ratio for June of Year 3.

Sales for Paradise Pools ($000s)

Month

First Year

Second Year

January

84

84

February

80

82

March

88

98

April

100

120

May

150

160

June

200

210

July

240

250

August

220

215

September

180

195

October

160

165

November

120

130

December

92

100

Group of answer choices

1.41

0.77

0.67

1.08

In: Accounting

Exercise 11-7 On October 31, the stockholders’ equity section of Carla Vista Co.’s balance sheet consists...

Exercise 11-7

On October 31, the stockholders’ equity section of Carla Vista Co.’s balance sheet consists of common stock $352,000 and retained earnings $398,000. Carla Vista is considering the following two courses of action:
(1) Declaring a 6% stock dividend on the 88,000 $4 par value shares outstanding
(2) Effecting a 2-for-1 stock split that will reduce par value to $2 per share.

The current market price is $16 per share.

Prepare a tabular summary of the effects of the alternative actions on the company’s stockholders’ equity and outstanding shares.

Carla Vista Co.’s
Balance Sheet

Before Action After Stock Dividend After Stock Split

Stockholders’ equity

   Paid-in capital

$enter a dollar amount $enter a dollar amount $enter a dollar amount

   Retained earnings

enter a dollar amount enter a dollar amount enter a dollar amount

      Total stockholders’ equity

$enter a total of the two previous amounts $enter a total of the two previous amounts $enter a total of the two previous amounts

Outstanding shares

enter a number of shares enter a number of shares enter a number of shares
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In: Accounting

A. On June 10, Crane Company purchased $9,000 of merchandise on account from Pronghorn Company, FOB shipping point, term...

A. On June 10, Crane Company purchased $9,000 of merchandise on account from Pronghorn Company, FOB shipping point, terms 2/10, n/30. Crane pays the freight costs of $550 on June 11. Damaged goods totaling $350 are returned to Pronghorn for credit on June 12. The fair value of these goods is $80. On June 19, Crane pays Pronghorn Company in full, less the purchase discount. Both companies use a perpetual inventory system.

Prepare separate entries for each transaction on the books of Crane Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

B.

Presented below are transactions related to Wildhorse Company. Prepare the journal entries to record these transactions on the books of Wildhorse Company using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
1. On December 3, Wildhorse Company sold $593,600 of merchandise on account to Novak Co., terms 4/10, n/30, FOB destination. Wildhorse paid $430 for freight charges. The cost of the merchandise sold was $383,200.
2. On December 8, Novak Co. was granted an allowance of $29,300 for merchandise purchased on December 3.
3. On December 13, Wildhorse Company received the balance due from Novak Co.

In: Accounting

To what extent does the election of Barack Obama as President of the United States of...

To what extent does the election of Barack Obama as President of the United States of America affirm the Jeffersonian ideals of equality expressed in the Declaration of Independence? Has equality been fully realized in America? (300 words)

In: Economics

In a knowledge economy, knowledge is the intensive factor of production. Comparing China and America, which...

In a knowledge economy, knowledge is the intensive factor of production. Comparing China and America, which country do you think has competitive advantage in a knowledge economy, China or America? Explain and justify your answer.

In: Economics