Questions
A) csc 401 c++ Write a class CorpData to store the following information on a company...

A) csc 401 c++

Write a class CorpData to store the following information on a company division:

a. Division name (such as East, West, North, or South)

b. First quarter sales c. Second quarter sales d. Third quarter sales e. Fourth quarter sales Include a constructor that allows the division name and four quarterly sales amounts to be specified at the time a CorpData object is created. The program should create four CorpData objects, each representing one of the following corporate divisions: East, West, North, and South. These objects should be passed one at a time, to a function that computes the division's annual sales total and quarterly average, and displays these along with the division name.

In: Computer Science

Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the...

Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2020.

January

February

March

April

May
Estimated unit sales 10,800 11,100 8,700 8,400 8,000
Sales price per unit $50.50 $48.20 $48.20 $48.20 $48.20
Direct labor hours per unit 2.0 2.0 1.5 1.5 1.5
Wage per direct labor hour $9 $9 $9 $10 $10


Lowell has a labor contract that calls for a wage increase to $10 per hour on April 1. New labor-saving machinery has been installed and will be fully operational by March 1.

Lowell expects to begin the year with 16,350 frames on hand and has a policy of carrying an end-of-month inventory of 100% of the following month’s sales, plus 50% of the second following month’s sales.

Prepare a production budget for Lowell Company by month and for the first quarter of the year.

LOWELL COMPANY
Production Budget
                                                                      For the Year Ending March 31, 2020March 31, 2020For the Quarter Ending March 31, 2020

Jan

Feb

Mar

Total

                                                                      Total Materials RequiredDesired Ending Direct MaterialsDirect Materials PurchasesRequired Production UnitsTotal Required UnitsDesired Ending Finished Goods UnitBeginning Direct MaterialsDirect Materials Per UnitBeginning Finished Goods UnitExpected Unit Sales

                                                                      AddLess:                                                                       Total Materials RequiredRequired Production UnitsTotal Required UnitsExpected Unit SalesDesired Ending Direct MaterialsDirect Materials Per UnitDirect Materials PurchasesBeginning Finished Goods UnitDesired Ending Finished Goods UnitBeginning Direct Materials

                                                                      Desired Ending Finished Goods UnitRequired Production UnitsBeginning Direct MaterialsDirect Materials Per UnitDesired Ending Direct MaterialsTotal Required UnitsExpected Unit SalesTotal Materials RequiredDirect Materials PurchasesBeginning Finished Goods Unit

                                                                      AddLess:                                                                       Total Required UnitsTotal Materials RequiredExpected Unit SalesBeginning Finished Goods UnitRequired Production UnitsDirect Materials Per UnitDirect Materials PurchasesBeginning Direct MaterialsDesired Ending Direct MaterialsDesired Ending Finished Goods Unit

                                                                      Desired Ending Direct MaterialsBeginning Direct MaterialsRequired Production UnitsBeginning Finished Goods UnitDirect Materials Per UnitTotal Required UnitsTotal Materials RequiredExpected Unit SalesDesired Ending Finished Goods UnitDirect Materials Purchases

eTextbook and Media

  

  

Prepare a direct labor budget for Lowell Company by month and for the first quarter of the year. The direct labor budget should include direct labor hours. (Round Direct labor hours per unit answers to 1 decimal place, e.g. 52.7.)

LOWELL COMPANY
Direct Labor Budget
                                                                      For the Quarter Ending March 31, 2020For the Year Ending March 31, 2020March 31, 2020

Jan

Feb

Mar

Total

                                                                      Total Materials RequiredDirect Labor Time (Hours) Per UnitCost Per PoundTotal Pounds Required for ProductionTotal Direct Labor CostDirect Materials PurchasesDesired Ending InventoryTotal Required Direct Labor HoursDirect Materials Per UnitDirect Labor Cost Per HourTotal Cost of Direct Materials PurchasesBeginning Materials InventoryUnits to be Produced

                                                                      Direct Materials PurchasesBeginning Materials InventoryCost Per PoundDirect Labor Cost Per HourDirect Labor Time (Hours) Per UnitTotal Cost of Direct Materials PurchasesDirect Materials Per UnitTotal Materials RequiredTotal Direct Labor CostTotal Required Direct Labor HoursTotal Pounds Required for ProductionUnits to be ProducedDesired Ending Inventory

                                                                      Direct Labor Time (Hours) Per UnitTotal Materials RequiredDirect Materials PurchasesDirect Materials Per UnitTotal Required Direct Labor HoursBeginning Materials InventoryTotal Direct Labor CostCost Per PoundDirect Labor Cost Per HourTotal Cost of Direct Materials PurchasesDesired Ending InventoryUnits to be ProducedTotal Pounds Required for Production

                                                                      Total Required Direct Labor HoursTotal Direct Labor CostDirect Labor Cost Per HourCost Per PoundBeginning Materials InventoryUnits to be ProducedDirect Labor Time (Hours) Per UnitDirect Materials PurchasesTotal Cost of Direct Materials PurchasesDirect Materials Per UnitDesired Ending InventoryTotal Materials RequiredTotal Pounds Required for Production

$

$

$

                                                                      Cost Per PoundDirect Materials Per UnitTotal Cost of Direct Materials PurchasesDirect Materials PurchasesBeginning Materials InventoryUnits to be ProducedTotal Materials RequiredDirect Labor Cost Per HourTotal Required Direct Labor HoursDirect Labor Time (Hours) Per UnitDesired Ending InventoryTotal Pounds Required for ProductionTotal Direct Labor Cost

$

$

$

$

In: Accounting

Prepare a lease schedule and journal entries for the leased motor vehicle. Useful life = 8...

Prepare a lease schedule and journal entries for the leased motor vehicle. Useful life = 8 years, no residual value.

18 Feb 2020, entered a lease agreement $42,000

Lease term 5 years, the number of monthly lease payments is 60 months (134 days from 18 Feb 2020 to 30 June 2020), the year 2020 = 366 days

The first lease payment of $660 is made in advance, hence no interest on the first payment.

Thereafter, 59 monthly lease payments are due on the 18th day of each. The final payment is due on 18 Jan 2025.

In the final payment, the company also has to make the guaranteed lease residual payment of $10,000, the company intends to pay out the guaranteed lease residual in 5 years time and take full legal possession.

In: Accounting

Wilson Industries produces an assembly used in the production of various products. The assembly is sold...

Wilson Industries produces an assembly used in the production of various products. The assembly is sold to various manufacturers throughout the United States. The unit selling price is $ 175.00. A projected sales forecast (in units) follows:

                                    January           18,000                                    

                                    February         24,000

                                    March              30,000            

                                    April                 37,000

                                    May                 32,000

The following information pertains to production policies and manufacturing specifications followed by Wilson Industries:

a.    Finished goods inventory on January 1st was 5,400 units. The desired ending inventory for each month is 30 percent of the next month’s sales.

b.    Materials used in the assembly are as follows:

Direct Material             Part #              Parts Per Unit             Cost per Part

     Widget                    325                            4                          $ 7.00

     Whatnot                  326                            6                          $ 3.00         

      Inventory policy dictates that sufficient materials be on hand at the beginning of the month to produce 40 percent of that month’s production needs. (THINK!!) This is exactly the amount of material on hand on January 1st.

c.     The direct labor used per unit of assembly is four hours. The average direct labor cost per hour is $ 19.00.

d.    The predetermined variable overhead is allocated at the rate of $ 11.00 per direct labor hour. Fixed overhead averages $265,000 per month.

The following information pertains to sales/purchases and their related cash collections/disbursements pattern:

a.    On average, credit sales are 75% of total sales.

b.    On average, 30% of credit sales are collected in the month of sale; 55% of credit sales are collected in the month following sale; 15% of credit sales are collected in the second month following sale.

c.     Cash sales for November and December were $ 700,000 and $ 950,000 respectively. (THINK!!)

d.    All material purchases are on account. On average, 40% of material purchases are paid in the month of purchase; 60% of material purchases are paid in the month following purchase.

e.    Material purchases for November and December were $ 974,300 and $ 1,158,000 respectively.

Given the above information, answer the following questions.

(Hints: prepare a skeleton of the following budgets for the first quarter: sales, production, D/M, D/L, OVH, cash receipts, cash payments; plug in the appropriate data; complete the budgets; answer the questions; since there are 2 D/M (widgets and whatnots), you will need 2 D/M budgets – one for each part; credit will NOT be given for carry-thru errors so make sure your budgets are prepared properly; see me for help. Read the information carefully. I know you can do it. Good luck and have fun.J)

1.    How many assembly units should be produced in the first quarter?

2.    What dollar amount of widgets needs to be purchased in January?

3.    What quantity (not $) of whatnots needs to be purchased in the first quarter?

4.    What is the total cost of Direct Materials for February?

5.    How many Direct Labor hours are needed in March?

6.    What is the total cost for Direct Labor for the first quarter?

7.    How much is budgeted variable overhead for January?

8.    How much is budgeted fixed overhead for the first quarter?

9.    What is the expected amount of cash receipts for February?

10. What is the estimated payment in January for material purchases?

In: Accounting

Krepps Corporation produces a single product. Last year, Krepps manufactured 29,650 units and sold 24,600 units....

Krepps Corporation produces a single product. Last year, Krepps manufactured 29,650 units and sold 24,600 units. Production costs for the year were as follows:

Direct materials $222,375
Direct labor $145,285
Variable manufacturing overhead $243,130
Fixed manufacturing overhead $563,350

Sales totaled $1,070,100 for the year, variable selling and administrative expenses totaled $140,220, and fixed selling and administrative expenses totaled $210,515. There was no beginning inventory. Assume that direct labor is a variable cost.

Under absorption costing, the ending inventory for the year would be valued at:

Multiple Choice

  • $269,980

  • $199,980

  • $261,480

  • $227,480

******************************************

An income statement for Sam's Bookstore for the first quarter of the year is presented below:

Sam's Bookstore
Income Statement
For Quarter Ended March 31
Sales $ 910,000
Cost of goods sold 565,000
Gross margin 345,000
Selling and administrative expenses
Selling $ 120,000
Administrative 144,000 264,000
Net operating income $ 81,000

On average, a book sells for $70. Variable selling expenses are $5 per book with the remaining selling expenses being fixed. The variable administrative expenses are 4% of sales with the remainder being fixed.

The contribution margin for Sam's Bookstore for the first quarter is:

Garrison 17e Rechecks 2020-09-09

Multiple Choice

  • $243,600

  • $280,000

  • $666,400

  • $808,600

***************************

A partial listing of costs incurred during March at Febbo Corporation appears below:

Factory supplies $ 9,000
Administrative wages and salaries $ 85,000
Direct materials $ 126,000
Sales staff salaries $ 30,000
Factory depreciation $ 33,000
Corporate headquarters building rent $ 43,000
Indirect labor $ 26,000
Marketing $ 65,000
Direct labor $ 99,000

The total of the period costs listed above for March is:

Multiple Choice

  • $291,000

  • $293,000

  • $68,000

  • $223,000

************************************************************************

In: Accounting

According to life-cycle models of consumption, a $1000 tax cut would have the largest impact on consumption spending when

According to life-cycle models of consumption, a $1000 tax cut would have the largest impact on consumption spending when

a. The tax cut is permanent b. The tax cut is temporary, and tax rates will steadily rise in subsequent years c. The tax cut is temporary, and tax rates will suddenly jump in subsequent years d. None of the above – A $1000 tax cut has the same impact on consumption spending regardless of whether it is temporary or permanent

7. An appreciation of the US dollar tends to a. Discourage Americans from traveling abroad b. Encourage exports of US goods c. Encourage foreigners to travel to the US d. Encourage imports into the US

8. If employers set efficiency wages that are above market wages, then a. Involuntary unemployment would disappear b. Real wage rigidity ceases to be an issue c. There could be permanent involuntary unemployment d. There could be permanent shortages of workers

9. The accelerator property of investment spending implies that a. Fluctuations in investment spending are more volatile than GDP fluctuations b. Fluctuations in investment spending are more stable than GDP fluctuations c. The IS curve is steeper than the LM curve d. The LM curve is steeper than the IS curve

In: Economics

REQUIREMENTS: Prepare, in good form, a Master Budget which includes the following: 1)    Sales Budget 2)   ...

REQUIREMENTS:
Prepare, in good form, a Master Budget which includes the following:
1)    Sales Budget
2)    Production Budget
3)    Direct Materials Purchases Budget
4)    Direct Labour Cost Budget
5)    Factory Overhead Cost Budget
6)    Cost of Goods Sold Budget
7)    Selling and Administrative Expenses Budget
8)    Budgeted Income Statement
9)    Schedule of Collections from Sales
10)    Schedule of Payments for Manufacturing Costs
Budgets should be for the individual three (3) months of the first quarter of 2019.
Include a quarterly total column on the right side. (except for #6 and #8).
Budgets #6 and #8 are for the first quarter only.
Use proper rounding and show two (2) decimal places of accuracy on dollar amounts.
Round up and show whole amounts on all other figures.
(Hint) Excel provides functions for rounding:
=ROUND(your formula,2)
=ROUNDUP(your formula,0)

BALANCE SHEET:

Bottas Manufacturing, Inc.
Balance Sheet
December 31, 2018
ASSETS
Cash $           25,711.00
Marketable securities                20,000.00
Accounts receivable             565,844.43
Inventories:
   Finished goods $           86,385.60
   Work in process                          0.00
   Direct materials                  7,193.94                93,579.54
Total Current Assets             705,134.97
Property, plant and equipment $         844,200.00
   Less: Accumulated depreciation           (318,600.00)
Total Property, Plant and Equipment             525,600.00
      Total Assets $     1,230,734.97
LIABILITIES AND STOCKHOLDERS EQUITY
Accounts payable $              5,755.15
Income taxes payable                          0.00
Total Current Liabilities $              5,755.15
Long-term notes payable             436,000.00
Total Liabilities             441,755.15
Common stock ($5.00 Par) $         475,000.00
Paid-in capital             100,000.00
Retained earnings             213,979.82
Total Stockholders Equity             788,979.82
      Total Liabilities and Stockholders Equity $     1,230,734.97
      Total Liabilities and Stockholders Equity

FACTS SHEET:

1. Sales
2018 Actual Units 2019 Budgeted Units
Nov Dec Jan Feb Mar Apr May
7,835 7,970 7,450 7,090 8,320 9,070 10,120
The selling price per unit has remained constant from the past year and is expected to
remain unchanged throughout the first quarter of 2019 at an amount of $          59.99
2. Production
The Company's policy is to produce during each month, enough units to meet the current
month's sales as well as a desired inventory at the end of the month which should be
equal to 23% of next month's estimated sales. On December 31, 2018, the
finished goods inventory consisted of 1,714 units.
3. Direct Materials
Each month the Company purchases enough direct materials to meet that month's
production requirements and an amount equal to 25% of the next month's
estimated production requirements. Each unit of finished product requires 2.83
pounds of direct materials at a cost of $1.38 per pound. On December 31, 2018
the direct materials inventory consisted of 5,213 lbs.
4. Direct Labour
Direct labour hours required per unit of finished product: 1.75
Average rate per direct labour hour: $          12.25
5. Factory Overhead
The Company applies variable factory overhead at the rate of 120% of direct
labour cost. The Company has the following fixed overhead expenses per month:
Factory supervisor's salary $    5,400.00
Factory rent         6,000.00
Factory insurance         6,500.00
Depreciation of factory equipment            600.00
6. Cost of Goods Sold
Beginning finished goods inventory units were at a cost of $          50.40
The Company has no beginning or ending work in process inventory.
Beginning direct materials were at a cost of $             1.38
7. Selling and Administrative Expenses
Variable selling and administrative expenses are:
Freight out $             0.80 per unit
Sales commissions 1% of sales
Fixed selling and administrative expenses per month are:
Salaries $    8,700.00
Rent         1,800.00
Advertising            150.00
Insurance            250.00
Depreciation (excluding depreciation
of computer to be purchased at the
end of January 2019. See Note A)      10,050.00
All selling and administrative costs, except depreciation, are paid for in cash during the
month in which they are incurred.
8. Income Statement
Interest revenue for the quarter ending March 31, 2019, is $        300.00
Interest expense for the quarter ending March 31, 2019, see Note B.
Income tax rate is 30% of income before taxes computed at the end of the
quarter ending March 31, 2019, payable in the second quarter.
9. Cash Collection Policy
Total sales consist of the following:
Cash sales: 5%
Credit sales: 95%
Credit collections are as follows:
In the month following the month of sale: 75%
In the second month following the month of sale: 25%
The accounts receivable balance of as of December 31, 2018, represents 75%
of credit sales made in December plus 25% of credit sales made in November to
be collected in January. It also includes 25% of credit sales made in December to
be collected in February.
The Company does not have bad debts.
10. Cash Payments Policy
Material purchase payments are made as follows:
In the month of purchase: 80%
In the following month the balance: 20%
The accounts payable balance of $    5,755.15 as of December 31, 2018
represents 20% of purchases made in December to be paid in January.
All labour costs are paid for during the month in which they are incurred.
All factory overhead costs, except depreciation, are paid for during the month in
which they are incurred.
Note A.   Capital Expenditure
The Company expects to buy a new computer on January 31, 2019, for use in the sales and
administrative offices at a cost of $ 18,000.00 which will be paid in cash.
Monthly depreciation expense will be an additional $        300.00
Note B.   Debt Repayment
On March 31, 2019, the Company is scheduled to pay $ 30,000.00 of the long-term notes
payable plus interest expense for the first quarter at a rate of 12%
Note C.   General Information
Use proper rounding and show two (2) decimal places of accuracy on dollar amounts.
Round up and show whole amounts on all other numbers
(Hint) Excel provides functions for rounding:
=ROUND(your formula,2)
=ROUNDUP(your formula,0)

In: Accounting

Could you predict growth of automotive industry of 2020 to 2025 ? Show me your calculation,...

Could you predict growth of automotive industry of 2020 to 2025 ? Show me your calculation, not just theory.

In: Finance

Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory...

Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the quarter ending September 30, 2018:

Cost Retail
Beginning inventory $ 410,000 $ 545,000
Net purchases 910,000 1,320,000
Freight-in 44,400
Net markups 59,000
Net markdowns 29,000
Net sales 1,255,000


Estimate ending inventory and cost of goods sold (average cost).

In: Accounting

Flexible Budget, Standard Cost Variances, T-Accounts Ingles Company manufactures external hard drives. At the beginning of...

Flexible Budget, Standard Cost Variances, T-Accounts

Ingles Company manufactures external hard drives. At the beginning of the period, the following plans for production and costs were revealed:

Units to be produced and sold 25,000
Standard cost per unit:
Direct materials $ 10
Direct labor 8
Variable overhead 4
Fixed overhead 3
Total unit cost $ 25

During the year, 24,800 units were produced and sold. The following actual costs were incurred:

Direct materials $263,872
Direct labor 204,352
Variable overhead 107,310
Fixed overhead 73,908

There were no beginning or ending inventories of direct materials. The direct materials price variance was $9,672 unfavorable. In producing the 24,800 units, a total of 12,772 hours were worked, 3 percent more hours than the standard allowed for the actual output. Overhead costs are applied to production using direct labor hours.

Required:

d. Fixed overhead spending and volume variances

Spending variance $ Favorable
Volume variance $

e. Variable overhead spending and efficiency variances

Variable overhead spending variance $ Unfavorable
Variable overhead efficiency variance $ Unfavorable

3. Use T-accounts to show the flow of costs through the system. In showing the flow, you do not need to show detailed overhead variances. Show only the over- and underapplied variances for fixed and variable overhead. Record the following transactions in the T-accounts: If an amount is zero, enter "0".

(a) purchase of materials,

(b) issuance of materials into production,

(c) incurrence of direct labor cost,

(d) application of variable overhead cost to production,

(e) application of fixed overhead cost to production,

(f) transfer of finished goods to finished goods inventory,

(g) sale of goods,

(h) closure of Direct Materials Price Variance account,

(i) closure of Direct Materials Usage Variance account,

(j) closure of Direct Labor Efficiency Variance account,

(k) closure of Variable Overhead Control account, and

(l) closure of Fixed Overhead Control account.

Enter these transactions in the T-accounts in the same order that they are presented here.

Materials
(a)
Work in Process
Finished Goods
Direct Materials Price Variance
(a)
Direct Materials Usage Variance
Accounts Payable
Wages Payable
Direct Labor Rate Variance
Direct Labor Efficiency Variance
Variable Overhead Control
Fixed Overhead Control
Cost of Goods Sold
$
$

In: Accounting