Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials):

Selling expenses $ 210,000

Purchases of raw materials $ 265,000

Direct labor ? Administrative expenses $ 155,000

Manufacturing overhead applied to work in process $ 371,000

Actual manufacturing overhead cost $ 356,000

Inventory balances at the beginning and end of the year were as follows:

The total manufacturing costs for the year were $680,000; the cost of goods available for sale totaled $720,000; the unadjusted cost of goods sold totaled $666,000; and the net operating income was $36,000. The company’s underapplied or overapplied overhead is closed to Cost of Goods Sold.

Required:

Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.)

Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials):

Inventory balances at the beginning and end of the year were as follows:

The total manufacturing costs for the year were $685,000; the cost of goods available for sale totaled $725,000; the unadjusted cost of goods sold totaled $660,000; and the net operating income was $34,000. The company’s underapplied or overapplied overhead is closed to Cost of Goods Sold.

Required:

Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.)

Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 214,000 Purchases of raw materials $ 261,000 Direct labor ? Administrative expenses $ 155,000 Manufacturing overhead applied to work in process $ 374,000 Actual manufacturing overhead cost $ 358,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 60,000 $ 31,000 Work in process ? $ 33,000 Finished goods $ 34,000 ? The total manufacturing costs for the year were $685,000; the cost of goods available for sale totaled $730,000; the unadjusted cost of goods sold totaled $670,000; and the net operating income was $32,000. The company’s underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.)

A solid 0.5350-kg ball rolls without slipping down a track toward a loop-the-loop of radius R = 0.8150 m. What minimum translational speed vmin must the ball have when it is a height H = 1.276 m above the bottom of the loop, in order to complete the loop without falling off the track?

The readings talked about problems of Financial Management Myopia and Spreadsheet Mirage. What do these concepts mean to you? Do you believe in them? Have you had experience with these issues in the past (yourself or someone you know)? How specifically will you avoid falling into these traps?

Please do someone that I know

Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 27 percent for the next 3 years, with the growth rate falling off to a constant 6 percent thereafter.

If the required return is 14 percent and the company just paid a $1.50 dividend. what is the current share price?

• $33.75

• $31.01

• $32.42

• $33.09

• $29.71

Assume that when an economy has a GDP of $500, Consumption is $550. The MPC is .75. Investment is 25. Government Spending equals $50. Begin the problem by completing Income/Consumption Schedule:

                                GDP=DI       Consumption     Investment     Government

                                  $500                  $550                    $25                   $50

                                    600                 

                                    700

                                    800

                                    900

                                  1000

                                  1100

1. Graph the Consumption Function.
2. Add Investment to the graph.
3. Add Government Spending to the graph.
4. What is the multiplier? (Use the formula discussed in your text.)
5. What is the Break-Even level of Income? (Do not include Investment or Government Spending)
6. What is the Equilibrium level of Income? (Include Investment and Government Spending)
7. What would be the new equilibrium in this economy if Investment increased by $12?

The government of Canada is spending unprecedentedly to curb the spread of COVID-19, revive the economy from economic recession and also ensure that a vaccine is found. Since February to date, the government has committed over 15% of GDP to COVID-19. The government is borrowing to finance its spending.

Drawing from what you have learnt on the topic "Expenditure Multiplier" and your prior knowledge, what do you think will be impact of these spending on the Canadian economy? Does this increased spending have negative implications for the economy, investors, and tax payers?

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