Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:

Direct material of 5.00 yards at $5.50 per yard

Direct labor of 2.50 hours at $18.00 per hour

Overhead applied per sleeping bag at $19.00

In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $6.10 per yard. The labor used was 11,700 hours at an average rate of $20.50 per hour. The actual overhead spending was $96,200.

Determine the labor rate variance and round to the nearest whole dollar. Enter a favorable variance as a negative number. Enter an unfavorable variance as a positive number.

4. If a country increases the amount of goods it imports but its exports remain unchanged:

7. Rising confidence in the economy shifts the aggregate demand curve to the left.

8. An increase in net export spending will result in a(n):

12. The decline in aggregate demand that occurred during the Great Depression caused a drop in real GDP:

Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows: Direct material of 5.50 yards at $5.25 per yard Direct labor of 3.00 hours at $19.00 per hour Overhead applied per sleeping bag at $16.00 In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $6.10 per yard. The labor used was 11,700 hours at an average rate of $16.50 per hour. The actual overhead spending was $96,200. Determine the total materials variance and round to the nearest whole dollar. Enter a favorable variance as a negative number. Enter an unfavorable variance as a positive number.

As a part of the stimulus package ($93 billion) was paid out in the form of tax credits . Use the parameters given in the table below and the equation of IS Curve to answer the following questions:

Autonomous Consumption (C) = $1.3 trillion mpc = 0.6

Autonomous Investment (I) = $1.2 trillion c = 0.1

Government Spending (G) = $3.0 trillion d = 0.2

Tax Revenue (T) = $3.0 trillion x = 0.1

Net Exports (NX) =1.3 trillion financial frictions (f) = 1

a) Calculate the goods market equilibrium output ( Hint: Use equation for IS Curve)

b) Calculate the good market equilibrium if there is tax cut of $93 billion. Interpret your result and provide economic intuition to support your result.

During the year, Belyk Paving Co. had sales of $2,395,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,325,000, $615,000, and $444,000, respectively. In addition, the company had an interest expense of $269,000 and a tax rate of 23 percent. The company paid out $394,000 in cash dividends. Assume that net capital spending was zero, no new investments were made in net working capital, and no new stock was issued during the year. (Ignore any tax loss or carryforward provision and assume interest expense is fully deductible.)

Calculate the firm's net new long-term debt added during the year. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)  

Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:

Direct material of 4.00 yards at $5.00 per yard

Direct labor of 3.00 hours at $19.00 per hour

Overhead applied per sleeping bag at $18

In the month of April, the company actually produced 5,100 sleeping bags using 26,800 yards of material at a cost of $5.50 per yard. The labor used was 12,250 hours at an average rate of $20.50 per hour. The actual overhead spending was $96,200. Determine the labor quantity variance and round to the nearest whole dollar. Enter a favorable variance as a negative number. Enter an unfavorable variance as a positive number.

Bowie Sporting Goods manufactures sleeping bags. The manufacturing standards per sleeping bag, based on 5,000 sleeping bags per month, are as follows:

Direct material of 6.00 yards at $5.75 per yard

Direct labor of 3.00 hours at $17.00 per hour

Overhead applied per sleeping bag at $15.00

In the month of April, the company actually produced 5,200 sleeping bags using 27,300 yards of material at a cost of $5.10 per yard. The labor used was 11,700 hours at an average rate of $18.50 per hour. The actual overhead spending was $96,200.

Determine the total materials variance and round to the nearest whole dollar. Enter a favorable variance as a negative number. Enter an unfavorable variance as a positive number.

If Dave’s Doors uses the First-in First-out (FIFO) costing system, it is assumed that the first units “available for sale” are the first units sold. Therefore, Dave’s will sell its beginning inventory first, then units that they purchased on 9/4, and then on 9/12 until they have accounted for the 45 units sold. Use the table for Dave’s FIFO Costing to complete the requirements below.

Since the 45 units sold is more than the 24 in beginning inventory, we know that all 24 of the units in inventory were sold. Include the units, cost per unit and Total Costs for beginning inventory in the table above. Use the data in your table from 6) above.

How many doors would Dave’s have sold from the units they purchased on 9/4? _______ Include the units, Cost per unit and Total costs for this row in the table above.

Complete the table determining how many units from each purchase Dave’s would have sold until the total equals the 45 units. Total the column “Total Costs” Hint: The number of units for the 9/18 purchase will be less than the total number purchased on that date.

Write the journal entry to record Dave’s expense.

Assume Dave’s sold these doors to customers for $480 each. Write the journal entry to record Dave’s revenue.

What is Dave’s Gross Margin for the period under the FIFO costing method?

The value of ending inventory can be determined 2 ways. The first method is to subtract the COGS calculated from the “Cost of Goods Available for Sale”.

Cost of Goods Available for Sale           ______________ (2) from Table in 6)

minus COGS                                       - ______________ from 8d)

equals Ending Inventory                        ______________

The other method is to use the number of units in ending inventory and assign costs from the most recent purchases until the number of units have been accounted for. Here, we can assume that all these units come from the purchases made on 9/18. Calculate the ending inventory balance.

# of units in inventory   times   cost per unit (from 9/18 purchase) = ending inventory

   _____________             X              _____________           =      _______________

More Info here: https://www.chegg.com/homework-help/questions-and-answers/cost-per-unit-items-purchased-easily-determined-using-purchase-records-assigning-cost-per--q26337761

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Item 4

Item 4 Part 1 of 2 0.5 points

Required information

[The following information applies to the questions displayed below.]

Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company’s balance sheet as of June 30th is shown below:

Beech’s managers have made the following additional assumptions and estimates:

1. Estimated sales for July, August, September, and October will be $210,000, $230,000, $220,000, and $240,000, respectively.

2. All sales are on credit and all credit sales are collected. Each month’s credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts receivable at June 30 will be collected in July.

3. Each month’s ending inventory must equal 30% of the cost of next month’s sales. The cost of goods sold is 60% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in July.

4. Monthly selling and administrative expenses are always $60,000. Each month $5,000 of this total amount is depreciation expense and the remaining $55,000 relates to expenses that are paid in the month they are incurred.

5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30.

Required:

1. Prepare a schedule of expected cash collections for July, August, and September.

2-a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30.

2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September.

3. Prepare an income statement that computes net operating income for the quarter ended September 30.

4. Prepare a balance sheet as of September 30.